REGISTERED CHAIUTY NUMBER: 221978 Tru$tees' Report •nd Unaudited FinY4Trclal Stat•mènts for the Y••r Ended 31 March 1024 Th• John Wllllam Lamb Charity Clayton & Brewlll Chartered Accountants Cawley House 149-155 Canal Street Nottlngham Nottinghamshlre NGI 7HR
The John Willi•m Lamb Charity Contents of the Financlal Statement• for the year ended 31 March 2024 Page Reference and AdmInIstiVe Details Trust. Report Independent examln•r'$ R•port Statsm•nt of Fln•ndal Actlvltle Balan¢e Sheet N¢Jte&T to the Flnandal St•t•m¢nts 7 to 10 D•tailed Stat•m¢nt of Flnandal Actlvltlea li
Th• John Wllllarn Lamb Ch•rlty R•ferenc• and Administratlve Det•ll$ for the year ended 31 Murch 2024 TRUSTEES MrAM Nall Mrs A Murray Mr R A Hodge PIUNCIPAL ADDRESS Nottlngham5hire Communlty Foundatlon Ash House, Ransom Wood Busine55 Park Southwell Road West Mansfield Nottlnghamshl NG21 OHJ REGISTERED ¢HARrrY NUMBER 221978 Z14DEPENDE14T EXAMINER Clayton & Brewlll artered Attountants Cawley House 149-155 Cènal Street Nottlngham Nottlnghamshlre NGI 7HR Page I
The John William Lamb Charlty Trust•ès' Report for th• ye•r ended 31 14arch 2024 The trustees present their report wlth the fi'nanclal statements of the charlty for the year ended 31 March 2024. The trustees have adopteil the provlsions of Accountlng and Reportlng by CharStles.' statement of Recommended Practlce applicable to charitie5 preparlng thelr accounts In a¢¢ordance with the Flnanclal Reportlng Standard applicable in the UK and Republlc of Ireland IFRS 102) (effertive I january 2019). OBJEcfivES AND ACTIvrrrES Objectives and actlvltle The Chaty'S actlvlty Is to provlde annultles and other benefits for elderly and needy persons, and to appoint a vlsitor to watch over the welfare of the annultants. Durfng the year untler revlew annultles totalllng £7,100 were paid to the beneficiaries, together with £630 In grants for household puhaSe5 and utility rosts. Publ1¢ benellt The trustees conflrm that they have consIded the Commlsslon's guidance on publlc benefit when vlewing the chaty,$ objectives and actlvitie5. ACHIEVEMENT AND PERFORMANCE Charltable actlvitl¢$ The trustes report that at the end of the 2023124 flnanclal year a total of 11 beneflclades have received a vaetY of benefits indudlng regular annuities, together wlth 2 beneficlarles receivlng vlslts from the support worker. In ottober 2023 a target was set to have 20 beneficiarfes at the end of 2024. To date there are 16 beneficiaries, wlth five new beneflclarles havlng been found, although tsvo beneficlaries have sadly passed away In recent months. A tar9et of 17 benefitiarie5 for 2024 would be satlsfattory. Bulldlng on the eX1]ent work of the support worker the charlty wlll seek to find additlonal beneflclaries In the fijture. FINANCIAL REVIEW FinaTrc5al posltlon The Statement of Financial Actlvltles on page 5 shows net Income for the year of £2,699 compared to net expendlture of £4,676 In the prevlous year. The indivldual incorne and expendSture figures. shown on page 10, were mostly slmllar to those for the prevlous year, except for an increase In Investment income of £3,117, and a significant decrease of £4,294 In portfolio management fees as no charge5 have, as yet, been ralsed by the new Investment managers. There were unrealLsed Investment losses of £4,635 12023.. £50,191), and a loss on the dlsposal of Investments of £13,401 12023: £6,383). glvlng an overall deficlt for the year of £15,337 12023: £61,250>. R•#•rves pollcy It 15 the pollcy of the Charity to malntsln resènfes whlch provlde sufficient funds to cover twelve months of management, admSn15tratlon and 5UPPOrt costs. Thls was still easily achleved with the balance of unrestrlctèd fiJrTrds at 31 March 2024 belng £1,015,56812023'. £1,030,905). STRUCTURE, GOVERNANCE AND MANAfjEMEf4T Governing docum•nt The tharity Is controlled by Its governlng document, a deed of trust and constltutes an unincorporated chadty. The tharity was formed under the will of the late john Willlam Lamb who died on 21 June 1916. charity constituted by the will Is managed and admlnlstered a¢¢ordlng to the Scheme dated 31 January 1922, as amènded 28 November 2000. as amended by orders dated 15 August 2Q03, 13 December 2004 and 4 Marth 2005. The management of the charlty Is vested In the body of trustees. R•crultment and appolntment of new trust The exlstlng trustees have the power to Jppolnt new trustees by the passlng of a resolutlon at a meetlng of the trustees. New trustees are recruited from Indlviduals already known to existing trustees, and are requlred to slgn a declaratlon of acceptance of offlce In the minute book. Page 2
The John Wllllam L•mb Charlty Trust•ts' Report for thé year ended 31 March 2024 srRucfuRE, GOVERNANCE AND MANAGEMENT Or9anlsatlonal $tNrture The trustees meet three tlmes a year to agtse the broad strategy and areas of actTvity for the charlty, Induding the consideration of potentlal new beneficlarles and the grantlng of addltlonal fundlng for household purchases. The day to day administration of the charlty is delegated to Nottlnghamshire Community Foundation, wlth the welfare of annuitants being monltored by the charlty's support visltor. Rhk management The trustees have a duty to Identlfy and revlew the rtsks to whlch the chartty Is exposed and to ensure approprlate contro15 are In place to provlde reasonable assurance against ftBud and error. Approved by order of the board of trustees on by.. and Signed on its behalf K (¢VK Mr Nall - Trustee Page 3
Xndependent Examin•e¥ R•port to the Tste¢S of The John Wllllam Ljmb Charlty Independenl examln•V8 report to the truste of Th• John Wllllam Lamb Charfty I report to the charlty tnJstee5 on my examlnation of the accounts of The John William Lamb Charity {the Trust) for the year ended 31 March 2024. Respon*ibilltl•s and basis of report As the charity trustees of the TnJst you are responslble for the preparatlon of the accounts In accordance with the requirements of the Charlties Act 2011 I'the Act.). I report In respect of my examination of the Trust's accounts carried out under Sertlon 145 of the Act and In carrying out my examinatlon I have followed all appllcable Direttions glven by the Charoty Commisslon under Settion 145(5){b> of the Act. Independent •xamirber's •tatsment I have completed my examlnation. I conflrm that no motertal matters have come to my attentlon In connettion with the examlnatlon glvlng me cause to believe that In any materlal respert: accountlnq records We not kept In respert of the Trust a5 required by Sertion 130 of the Act; or the accounts do not accord wlth those records,. or the accounts do not comply wlth the opplicable requirements concernlng the form and content of ccounts set out In the Charttles (Accounts and Reports) Regulations 2008 other than any reqU1ment that the accounts give a tme and fair vlew whlch Is not a matter consldered as part of an Independent examlnatlon. I have no con¢ems and have come across no other matters In connettion with the examlnatlon to whlch attentlon should be drawn In thls report In order to enable a proper understandlng of the accoLtnts to be reached. D Perry Clayton & Brèwill Chartered Accountants Cawley House 149-155 Canal Street Nottingham Nottlnghamshlre NGI 7HR Date: Pagè 4
The John Wllllam Lamb Charfty Statement of Flnanclal Activitres for th• year •nded 31 March 2024 3113124 Unrestrirted fund 3113123 Total fijnds Notes INCOME AND ENDOWMENTS FROM Investment Income 28,842 25.725 EXPENDITURE ON Ralsing funds 2,904 7,198 Charitabl• actlvlties Expendlture on charltable artlvltles Other expendltu 15,349 7,890 14,481 8,722 Total 26,143 30.401 Net gèins/(losses) on Investments (18,036) (56,574) NET ZNCOME/(£XPENDmiRE) (15,337) (61,250) RECONCILuTfoN OF FUNDS Total funds brought forward 1,030,905 1,092.155 TOTAL FUNDS CARRIED FORWARD 1,015,568 1,030.905 The notes form part of these financlal statements Page 5
The John William Lamb Charlty Balan Sheet 31 March 2024 3113124 3113123 Total fvnds Vnre5tricted fund Notes FIXED ASSETS Investments 1,006,816 990,897 CURRENT ASSETS Cash at bank and In hand 11,855 44,865 CREDITORS Amounts falllng due withln one year 13,103) {4.857) NET CURRENT ASS5 8,752 40,008 TOTAL ASSETS LESS CURRENT LIABILMES 1.015.568 1,030.905 14ET ASSETS 1,015,568 1,030,905 FUNDS Unrestrltted funds 1.015,568 1,030,905 TOTAL FUNDS 1,015,568 1,030,905 Th finanelal 5taternents were approved by the Board of Trustees and authortsed for issue on 6th?kf.. ,.......... and were signed on Its behalf by: K(6L MrAM Trustee The notes form part of these financial statements Page 6
The John Wllllam Lamb Charlty Not•s to the Fln•ndal St•tements for the year •nded 31 Narch 2024 ACCOUNTING POLICIES Ba$ls of preyring the tlnan¢ial statements The financial Statements of the charlty. whlch Is a public benefit entity under FRS 102, have been prepared in accordance with the Charltles SORP {FRS 102) 'Accountlng and Reportlng by Charitles.. Statement of Recommended Prartice applicable to ¢harftles preparfjng thelr accounts in accordance with the Flnancial Reporting Standard applicable in the UK and Republic of freland {FRS 102) (effectlve l January 2019),, Financial Reportlng Standard 102 'The Financial Reportlng Standard applicable in the UK and Republic of Ireland, and the Charltles Att 2011. The flnancial statements have been prepared under the hlstorlcal cost conventlon, wlth the exceptlon of Investments whlch are Induded at market value, as modified by the revaluatlon of certain assets. Income All income 1$ CognISed in the Statement of Financial Artlvltles once the charlty has entitlement to the funds, It is probable that the Income wlll be ee1ved and the amount can be measured reliably. Interest on fijnds held on deposlt Is included when rtcelvable and the amount can be measured rellably by the ¢harity= th15 Is normally upon notlfication of the Intèrest paid or payable by the bank. Divldends are recognlsed On the dlvldend has been declared and notification has been reIVed of the divldend ¢Jue.' this Is normally upon notiflcation by our Investment èdvlsor of the dlvidend yleld of the investment portfolio. Expendlture abllities are wognlsed as expenditure as soon as there is a legal or construrtlve obllgation committing the chartty to that expenditure, It Is probèble that a transfer of economlc benefits wlll be requlred In settlement and the amount of the obllgatlon can be measured rellably. Expendltvre Is recognlsed on an accrua15 basls as a Ilability Is incurred. Management and admlni5tration expend1 comprlses all costs incurred in runnlng the charlty whlch are all deemed to late to the charity's prlncipal artivlty. Grants offered subject to condltlons which have not been met at the year end date are noted as a commltment but not accrued #s expendlture. Charftabl• •rtlvlti*s Charltable expendlture comptises those costs incurred by the charlty In the dellvery of its actlvltles and services for Its benefidarles. It Includes both costs that can be allocated dlrectly to such actlvltles and those costs of an Indirect nature necessary to supptsrt thern. Taxatlon The chartty Is exempt from tax on its dMritable activltles, Fund actountlng All fijnds are unrestrlcted and can be used in accordance wlth the charftable objettives at the dlscretlon of the trustees for the purposes lald down In the Trnst Deed. Cash and ¢ash 1Valents Cash and cash equlvalents comprlse cash on hand and call deposlts and a held to meet shvrt temi commltments as they fall due rather than for Investment purposes. They are readlly convertlble to a known amount of cash and are subject to an Inslgnlficant rSsk of change in value. Fixed amet investments Fixed asset Investments, other than programme related Investmerts, are included at market value at the balaTr sheet date. Reallsed gain5 Jnd losses on investments are calwlated as the dlfference between sales proceeds and their market value jt the start of thè year, or thelr subsequent cost, and are charged or credited to the Statement of Flnanclal Actlvltles In the period of dlsposal. Unrealised galns and losses represent the movement in market valLTres during the year and are credited or charged to the Statement of Flnanaal Actlvlues based on the market value at the year end. Page 7 contlnuèd...
The John Williarn Lamb Charlty Not•$ to the Flnan¢lal Statements - contlnued for the year ended 31 March 2024 ACCOUNTING POLICIES- continued Falr valve m•••ur•m•nt The best evldence of falr value is a quoted price for an identical asset in an actlve market. When quoted proces are unavallable, the price of a recent transartlon for an identlcal asset provide5 evldence L)f fair value as long as there has not been a 5ignlficant change In economlc clrcumgtsnces or a slgnlflcant lapse of time since the transaction took place. If the rnaet Is rt active and recent transartions of an Identlcal asset on their own are not a good estlmate of falr value, the falr value Is estimated by using a valuation technlque. Gr•nts and •Thnultlés Grants and annultles are payments made to third partles In the furtherBnce of the chartty's obJectlves and are accounted for when they are pald. INVESTMENT INCOME 3113124 3113123 Income from investments Interest re1vable 27,892 950 25,286 439 28,842 25,725 RAISING FUNDS Investm•nt man•9ement costs 3113124 3113123 Portfolio management 2,904 7,198 SUPPORT COSTS Management Flnanee Totals other expendlture 5,696 2,194 7,890 Support costs, Induded In the above, are as follows: Manag•mont 3113124 Other expendlture 3113123 Totol artlvltles Insurance Recrultment c¢sts Computer Expenses Admlnlstration fees 534 529 209 1,578 4.461 1,008 4,154 5,696 6,777 Page 8 continued...
The John Wllll•m Lamb Charlty Note$ to the Finan¢l•l Statemants- contlnu•d lor th• y••r ended 31 March 2024 SUPPORT COSTS - contlnued Flnanc• 3113124 other expendlture 3113123 Total actlvltles Attountancy Accountancy - Independent Examination Bank charges 1.000 1,000 1,092 102 1,038 116 2,194 2,154 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, mUneratIOn or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Tst•eS. expenses There were no tnjstees, expense5 pald for the year ended 31 March 2024 nor for the year ended 31 March 2023. FIXED ASSET INVESTMENTS Llsted Investments MARKET VALUE At l Aprfl 2023 Additions Dlsposals Revaluatitsns 990.897 1,011,451 (990,897) (4,635) At 31 March 2024 1,006,616 NEf BOOK VALUE At 31 Narch 2024 1,006,816 At 31 March 2023 990,897 There w*re no Investment assets outslde the UK. Cost or valuatlon at 31 March 2024 Is representsd by: Listed investments Valuation In 2024 1,006,816 Page 9 contlnued...
The John Wllllam Lamb Ch•rity Note$ to the Flnanclal Statements- continu•d for the yo•r •nded 31 March 2024 CREDITORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 3113124 3113123 Other credltors 3,103 4,857 RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2024. Page 10
Th• John Wllllam Lamb Charlty D¢talled Statement of Financlal A¢tlvltle$ for the yewr end¢d 31 March 2024 3113124 3113123 INCOME AND ENDOWMENTS Inv••tmeTrt Income Income from investments Interest recelvable 27,892 950 25,286 439 28.842 25,725 Totsl incomlng resouKe$ 28,842 25,725 EXPENDrnIRE Inv•tm•nt management costs Portfollo management 2.904 7,198 Charitable actlvitles Vlsitor fees and expenses Visitor and volunteer 9lfts Annultles Grants to Indlvlduals 7,419 200 7. 100 630 6,281 7,525 466 15.349 14,272 Support costs Management Insurance Recruitment costs Computer Expenses Administration fees 534 529 209 1,578 4,461 1,008 4,154 5,696 6,777 Finance Accountancy Accountancy - Independent Examinatlon Bank charyes 1.000 1.092 102 1,000 1,038 116 2,194 2,154 Total resources expended 26, 143 30,401 Nét Income/{expehditur¢) b•fore 9•ins and losses 2,699 (4.676) Reallsed re¢Ognid uins and loss•¥ Realised gain5/lossès on Investments Unrealised gainsllos5es on investments (13,401) 14,6351 (6,383) 150,191) Net expendlture 115,337) (61,2501 This page does not form part of the statutory flnancial statements Page 11