LEVER NGTON FEOFFE CHARITABLE TRUSTS FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 2024
LEVERINGTON FEOFFEES HARITABLE TRUSTS INDEX Legal aNI hAmlnlstsbve Inf(lat[On IFdent Examinerf$ Rewi Clarke's Muslc s Trust Statement of Financlal Activities Baance Sh88t In Skkness Fund ststement of FlnancSal ActlvMe8 BaarTh Sheet T¢ Lands Nthv Scheme Chartty Statement of Financial Activities B818r Sheet 10 Town Lands EdUtrOnal Founda0 ststement of Fir¥gncial ActEvities Balance Sheet 11 12 Notes to theAccwnts 13
FFEE CHARrrA8LE TRU AND ADMIN TRA FORMATION The charities undw the common c¢y7tr01 ofthe Lgverington Feoffees are a$ fc41ows: Chaiity Number 269579 273753 311325 aarke's Muslc Slee3 Trust Leveringkn Relief Sn Slcknes¥ Fund Tovm L8nds EduGational Founda1¢ Tovon Lands New Scheme (including Philip Chartton. William H8vls. PE13 1EH Pago 1
FEOFF CHARITABLE TRU Trustses Report The tru$te6s present Ihelr report and fln8nclal 8tstem&nts for the year erKled 30th June 2024. Th0 charities undw the common control of the Levering Feoffees 8Ye ¢$11tUt8d by 8 Deed of Trust and ara regi8tèr¢d ¢horf¥e8 88 shovm on pap one. Conblltutlon and objfjcts The obl6cts of th• chaiibes wg as folbJw8:. T(xYn L8ntJs Charity- to reliève either gen9rally or indlvlllually per3ons re$i¢Jgnl In the parfsh ol Leveringlon {as at 31st March 19941 or wdows in lh8 Par18h of Newton. who are in Gonditions negd. ardship or distress ty way of m8king grants of rr¥)ney or provKling or pay7ng ts items. smiices or f8¢ilrfies. or ty of donations or subscriptions to insotutlons or organisations véhi¢h provide the the same. Under a new charity scheme dated 291h Ap1 1994, the Tcwi managed as Lands. John Swaine. Thomas Swalne, Ellard Griffin and Thc4mas CrlplSn Charit6è8 ara administsrgd and managed 4$ part ofthe Tovm LaThJs Charlty. L8verington Reef in SiGkness Fund- to relreve in cases of need. por8on8 resi(16nt kn the Parish ol Leverington who are Ck. wnvakscenL disabled, handicapp•l or inffmi. ClaFkfr's Music Service Twst- to provide gr8nt8 to Ioc81 mUSl8ft$ in need of finarKial he. Tovm L8nds Educational Foundatknn - lo pronK>te educatlon of children and Ung per8on8 roBHlent in tt)e Parishe5 of Gorefi¢. Leverington and ParsL¥b Drov9 by way of payments for hlgh8r 8ducation, 8tten¢ing to thoir health or physic81 condition. prowding 8urgical aplanCeS and ya5ses as necessary. <hganSsatlon and adminltratlon Th¢ cwncil oftrustees 18 as Sho on pagg 1. Appdntmwbt of TAJst5 is govemed by th8 D of the charity. The Boafd of Trustees is authoris8d to appdnt new trustee8 to Nl vacancies arising through Tr8ignation or dealh of an existing trustse. Tho charity Is organised 50 that the tsustees m881 règulaty to managfr irs affalrs. Ther8 is a clerkto the tnJslee8 who fecelves an honorarlum 80ch year WIU) the trustaas volunlegring time free of tharge. There havg no d)ange8 in the l¢leS of the chadty since the18s1 repo Grant maklng l1¢Y and publlc ben•fft The Income cl the fund ts distdl)uted In accordance th tho Obj of Ihe varlou8 charftle8. The Tfustees have cltinUed to give attention lo provkllng educatlonal 8881stance for school le8Vors and suPrtIng requests by the needy for Wdnts. Th6 Charfton's tkjle d18trtbut1 wa8 made to 131 eUglbl8 per)ns. Tha Trn8tees havg pgid regard to the Charity Comwi88lon guidgnca on publlc bgngfit In dectding vthat acllvlttes 8nd individuals the charfties shcwld sup Page 2
ERI GTON FEOFFEE CIIARITABLE TrUSTB EPORT OF THE Flnttnclal r•vi•w And inv••tm•nt PY The Trust DJ aulh(Kises the trustees b make and ho]d tnv•slm8nts. Invgstrngnts held have been iHred in accordanc8 thg TN8t Doed. Oetslls of the varlous cher1. (ncoma and expen(Ilture and financFal poslllon as al 30th Juno 2024 8 set out on pages 8 to 14. Th888 francial 8latèm8nls should bo read In cMlunclkxÈ their rola nots$. Th• TTUSteos rfll condnue to m2MIse thelr Invesknents to onwre there18 8ufficS8nt k%omè to nwt thelr targets for grants and distributions. The assets and Investments are Indepwthnuy on annu81 b88ls to 81? ih8t ome and kwtemi growth aro athigved. In the OnIOn of the trustees the Ghar05. State of affs are nN>8t 85ti8y. FuNts mllabl• Th8 présent leval offvndlng is adequate ID BUPPOrt ts cMlinuafjon of the chadtt98' obleth and princlp81 aTrY1b0$. st•t•m•rt of Tru•t•ts' R•8ptsn#fbllltl•s The18w applicable to ch8riligs in England & Wales requlres the tru5ta8S to prepare finand81 ststwnent8 each finandal yBar which show a Inje and fair vl8w of Ihe affalrs of the Charity and it8 financk81 acdvllle8 for that perlod. In prèwtng Ihose fift8nci818tstemnts, the Trustses are rgquKed to:. - selt suitabl¢ a¢¢ounlJng poli98 and thèn apply them ¢onslstenlty; . mak8 iudg8ments arKI estimates th8t are reasonable and pnKlent . state sthether apICable stsnd8rd8 arKI stst8mgnts of Tgcommende(I practlce have been follow wfyecl to ary dopartures dSsctosed and explained in th¢ flnanc4al statoments; and - prepare the financial statomenl$ on the going ¢oncem bas1$ unfess it Ss in8pproprlats lo presume that the charlty V411 ¢ontlnuo in operational existence. Th8 truslees are respon%ble for kwing propgr accounung rècor(18 k¢h disdo8e vAth rna80nabl8 accuracy 81 any tlme Ihe fin8n¢ial posikn of the thadty and to enable them to ensure that Ihe ffinandal slat&mants comply llhe Art). They are 8180 rosnsIble for safeguarding the assets of the charity and hgnre for tsking rgasonable steps for the pro¥tion and det8Ctlon of fraud and other lff¢gularflks. Approval Thls report was approvgd by the trustees and slgr*d on thelr bthalt: E N&hling Chai0 Pag8 3
ON FF CHARITABLE TRUSTS EPENDEKf EXAMI ER% PORT LEVERIN TON FEOFFEES I rgPQrt on the accowts of the Trusts the year ended 30th June 2024 vthich aro Set out on pag6$ 6 to 14. Respocllve respoMlblllll68 of trusttss and •xamln•r The chaftys trustees are responsible for the FwaralSon of th8 aCOun Thè clriW8 Irustees ¢onsidor Ihal an audit 18 not required for thls yoor un¢Jer tho Chgrflie$ Act 2011, 8. 144 (2) C Ihg A¢t') and that an indopendent examin8lion 18 needed. t Is my reSponbIlitY to.. examlne the accounts undgr sOn 145 of the A. follow the procedures laid down in tha General Direcltons given by the Charlty Comml8Ston (undèr secllon 145(51 (b) of the Act,. and stata particular matt•ts havo 0)me to my attenuon. 8A•l$ of Indold•rtt oxamln•rfs r•port My examlnallon was carried out in acc(¥dan the General Directions given by the Chorlty C(xnmis8ion. An ex8mln8Ion Include8 8 review of the aGGounting 01(18 kept by the charity and a comparison of the accounts presented V41th those records. 11 also indudes consideration of any unugU81 Item$ ordtsdosuros in th8 accounts, and 8eeking èxplanalions from as trustees conceming ary suth matters. The procedureg uThlertaken do not prode all the ewdance that vyJld b6 wuir8d in an audit, and consequgnuy no oplnion Is gwen as to whelFiw the aecounts prosant 8 Irue $nd falrf vsew arKI the report Is1Smited to thoso matteTS 8et out in the statement belty. Ind•pond•nt •x•mlngr's statsm•nt In connecllon YAth"my axamination. no matter ha8 Coma to my atttIon.. (1} which 9iYes me rèasonabb cause to believe that In, any vnaterfal rospert, the reqU*ents. to keep a¢counUng records In accordance with section 130 of th? Act.. and to prepare a¢Unts whiGh accord 11 the accounllng rewrds afKt wnply wlkn tho accounling requlrements of llht ACVI" havg nol b88n met., or {2) to 1¢h. In opinlcNI, attenltcffi should bè drawn in oyder to enablè a proper underslanthrwJ ofthe orLounts to be reach. C L Smilheg FCCA T C Group 9110 The Crescenl WISBECH. C8mbrfdgeshire PE13 1EH
LEVERI TON FEOFFEE USIC SERVICE STATEMENT OF FINANCIAL ACTivrriES FOR THE YEAR ENDED 30th JUNE 2024 Unro8trfct•d Endowm•nt Funds Fund 2024 2023 INCOME Dlvklends- COIF Investrna Fund 193 193 192 TOTAL INCOME 193 193 192 EXPENDITURE rttt Charrfabte Exp¢ndituro- Muslc Grants M8n8gement and AdmIntr*thI ExwBes Clerk's Salory Accountsncy F88s TOTAL EXPENDrruRE 110 110 110 NET INCOMEI(EXPENDITURE) FOR THE YEAR NET GAIN81(LQS8E81 ON INVESTMENTS UNealls&l galnl(loss) on re¥aluatlM of inve8tments 528 $28 311 NET MOVEMENT IN FUNDS 528 611 TOTAL FUNDS BROUGFrr FORWARD at 1•t Juty 2023 1.041 7,686 7.293 TOTAL FUNDS CARRIED FORWARD 1,124 7.173 Page 5
LEVERINGTON FEOFFEES CHARrrABLE TRUSTS sic BALANCE SHEEf AS AT JUNE 2024 Fund• 2024 Fund 2024 Total 2024 23 FIXED ASSETS Inve8lments- 352.60 Sh8re8 COIF Invesknent Fund Income Uniks- at valuation 7,173 7,173 TOTAL FIXED ASSErs CLIRRENT ASSETS C8sh held by Tfxnl8nd8 N6w S¢heme 1.184 1.184 1.101 1,101 Creditors:amrAvts falliro due within Or year NEf CURREKf ASSETSI(LIABILITIESI 1,124 1,041 TOTAL SET5 LESS CURREKf UABILITIES 1.124 7,173 8897 NEf ASSETS 1.124 7,173 7,686 TOTAL FUNDS OF THE CHARrrY 1,124 7,173 8,297 7.886 Page 8
LEVERINGTO FEOFFEES HARrrABLE TRU IEF IN SIC STATEMENT OF FINANCIAL ACTivmE8 FOR THE YEAR ENDED 30th JUNE 2024 Unre•trlcted Endowm•Tht Funds Fund 2024 2024 Totsl 2024 2023 INCOME Invesknent In¢¢)mè Interest- t)8poslt aC(xnt TOTAL INCOME EXPENDITURE Direct Charitable ExpeThllture- Land Management and Admlnlstratin Expons88 Clerk's Sa18ry Accryjrstancy Fees 60 TOTAL EXPENDrruRE 110 NET INCOMEI{EXPENDrruRE) FOR THE YEAR (110) (110} 1110) NET GAIN51ILOSSES) ON INVESTMEiirs Realisfrj disposal of investmeht NEf MOVEMENT IN FUNDS (110) {110> (110) TOTAL FUNDS BROUGHT FORWARD 131 Juty 2023 6,218 6,216 TOTAL FUNDS CARRIED FORWARD at 30th Juno 2024 6,106 6,218 Pago 7
TON FÉ ABLE TR ES CHAR RE ST Funds 2024 Fund 2024 Total 2024 2023 CURREKf ASSErs Cash hekl byTovmLqth Sch9 6,168 106 6.276 6.166 6,180 e,276 Credil(n'.amnts falllng due thIn one NEF cURREp PSSETSIILIABILThES} 6,106 6,106 6,216 TOTAL ASSETS LESS CURRENT UABiufiES 6,106 106 0,210 NEf ASSErs 6,1 6,106 6.216 TOTAL FUNDS OF THE CHARrrY 6.106
LEVERING CHARrrABLE TRUSTS TOWN LANDS NEW SCHEME CHAR INCORPORATING TOWN LANDS THOMAS CRIPLIN JOAN SWAINE SWAIN AND ELLARD GRIFFIN CHARITIES STATEMENT OF FIN ACTMTIE NDED Unrostrlct•d Endo•Dt Fund8 Fund 21)24 Total 2023 21r14 114COME Rent Investment Income 38,109 38,109 37,827 Interest - Bank and Deposit Dfvtdend$- COIF Investment Fund 11 10,384 10.384 9,722 TOTAL INCOME 48,484 47.552 EXPENDIWRE Dlre¢t Charitabl• Exp•nditur• Grants & donatio - Charllon's D(Ao - Tiywn L8ndB Edu¢atlwl FurKI - MustG Indfviduals 9,875 22.150 500 9.300 9,875 22,150 8.715 18,850 250 12210 9.31)0 Admln18tr8llon Insurance Land m8intenanf Clerk's Salary General Expense5 - Alk>trngnts & MiS¢dlorUS Accc¥JntarTrGy Foes Profession81 Fee8 286 276 3,650 157 1,740 2.143 3,650 157 1,740 2,143 3.650 (44) 1.740 2.570 TOTAL EXPENDITURE 50,269 NET INCOMEI(EXPENDITURE) FOR THE YEAR NET GAIN81(LOSSES) ON INVESTMENTS Unrealised gainl{1038) on revaluation of Investmwts (1.785) <1,7 (665> 2.616 16,059 18,675 (10,567) Transfer bets4*en funds MOVEMEpif IN FUNDS 831 16.059 1I890 {11.232) TOTAL FUNDS BROUGHT FORWARD at 1st July 2Q23 TOTAL FUNDS CARRIED FORWARD at 30th Jun• 2024 58.017 1.654.891 1,712,908 1.724.140 1,670,950 17128 Pag9 9
RIN TONF HARITABLE TRU TOWN LAND INCORPORATING TOWN LANDS THOMAS CRIPLIN JOHN SWAINE AIN D ELLARD GRIFFIN BALANCE 3HEEf AS AT 30th JUNE 2024 FF TS Unrnstri¢tod Endownmnl Funds Fund 2024 2024 Total 2024 Total 2023 FIXED ASSErs Investment Property- Land Intsnglble A89et 1.349,307 5,993 1.349,307 1,349,307 5,993 Inveslments- COIF Invaslment Fund Income Unlts CofLsnds Unit TTusts- Aegon Tnjst Fund Aegon Trust Fund ref UR COIF Property Furvl 72,142 191,559 72,142 191,559 39,IM2 86,828 178.128 36,426 39,042 51.949 31 5.650 1870,950 39,042 39.042 354.ffj2 1.709,992 336,018 1,691.318 TOTAL FIXED ASSETS CURRENT ASSErs Debtor5 Cash at Bank Bank Deposit 219 40.409 836 219 219 37,692 824 41,484 41 CredStor8:amounts falllw due wthln one year Cash held on behaw of Educatlonal Fund Cash held on behalf of C18rke'8 Service TFUSt Cash held on bthaw irf Rel in Sickness Fund 1,7dl 12,568 1.184 6.165 21,658 1,741 12.568 1,184 1,741 8,028 1,101 8.275 21.658 NEf CURRENT ASSETSI{UABILmES} 19.808 19,806 21.590 TOTAL AssEfs LESS CURRENT LBrnEs $8.848 1,870.950 4,ng,798 1,712,908 NEf ASSEr8 58,848 1670.950 1,712908 TOTAL FUNDS OF THE CHARITY Poge 10
CHARITABLE TRUSTS ED ATI NAL FOUNDATI OFF ENDED 31Xh JUNE 2024 TEME Unr•8tslct•d Endowm•nt Fund• Fund 2024 T¢)tal Trtal 2023 INCOME Investment Income Donalton - Ttxvn Lands Chwity DivkJends- COIF Investment Fund Interest - Bank Der*JSit AGLwnt 22,150 1.785 22.150 18.850 1,778 18 TOTAL INCOME 23.967 EXPENDITURE Oirect Charitable Expenditure- Grants lo Individuals 22.150 4150 18.850 cterk's Sdary AccwntanGy Fees TOTAL EXPENDrruRE 21260 NEf INCOMEI{EXPENDrruRE) FOR THE YEAR 1,707 1.707 hlET GAINSI(LOSSESI ON INVESTMENTS Urtrftalised gain81(lossesl on revaluat of Investm 4890 2,875 NET MOVEMENT IN FUNDS 1.707 6.597 4.561 TOTAL FUNDS BROUGHT FORWARD at 1stJuty 2023 13.429 61.488 74,917 70,356 TOTAL FUNDS CARRIED FORWARD at 30th Jun¢ 21)24 Page 11
LEVERINGTON FEOFFEES CHARITABLE TrUSTS DSE FO NOATIO BALANCE SHEET AS AT 301h JUNE 2024 Unr•8trfthd Endowment Fund¥ Fund 2024 2024 2023 F5XED ASSETS Investments- 3263.12 Shares COIF Invesknent FutKI I)me Units- 8t vduation 8&378 fjQ378 61.488 TOTAL FIXED ASSETS 61,488 CURRENT ASSErs Cash al bank (Townsland & SWaW) Bank Dep05it Accwnt 12.588 12.588 8.027.1)0 15.366 15,366 13,659 Credllors'.amounts falling due wllhln one 2} 230 NEf CURRENT ASSETSIILIABIUTIESI 15.1 1S,136 13,429 TOTAL ASSETS LESS CURREtrrf LBluE$ 15,136 86.378 81,514 74.917 NET ETs 66.378 74,917 TOTAL FUNDS OF THE CHARrrY 15.1 74.917 Page 12
LEVERING ONF OFFEE CHARITABLE TRUST TEST THEA TH 1. Ac¢ounUng Pollc188 A¢¢ountlng convfrntlon Th8 financL91 statem8nts arg preparod under thg hlsttyical cost ¢onvention as mc%Yified by Ihe Induslon of investmerts at market valuo and In accordance with appllcable accwnting standards. In preparing the finarthl statements the Charity follows best practisè as laid down in the SLment of Recommended Practke.. countlng and Reportlng by ChwttSes' ISORP 20151 (effective l January 2015.} Incom6- Ront Lq dealt with on a cash basls. No account has been laken of rent prep3ld or 8crued. Accrued irwme has been provided lor Inveslment income re(Avable. ExpendlbJr•- Exwiditure is i[Uded on an accruals basTs. Expenthlure inclu(tes inwt VAT whKh annol be reco¢ and is ted as part of the expendlture to vthich il relates. Inv•stsMnts . Current Asset Investments are valu5 88 fd10v.. a) COIF Investment Fund Income Units al value pU1$hed by Chariues Offiaal Invesknent Fund. b) M & G Charifund al value putAi$hed by M & G Securtties Limlted. ¢) Un¢t Trusts held un¢Jer umbrella of Cofund¥ Ltd at published l)td valuo al BaJan Sheet date. d) COIF Propety Fund 8t publlshed bid value at Balance Sheet date. Reali¥ed arKI uwli86d gains and108ses oft investments are det vAth tn the Statement of Flnanclal A¢tivtitt. Land - The Trustees have valued the land held for investment purr)se¥ at 301h June 2024 on the basis of current umstsnces. at approxhnately £4.000 ter acre for Agricultural Holdiros, and £8,OLXI p8r acre f(Y Fami Business Tenancies. The Trustees telieve that thi5 valuation v6 appropriate al thi8 time. Taxatlon- AS ch8ritable organlsatTh, rthe of the funds are gubi&t to Irwne Tax, and therefore interest and inveslment income is Sh( gross recved. The charitses are indlgble to redaim input VAT and all expenses are shown irdusive of Value Add Tax. 2. T¢)wn Lands SGhome. Flxfjd A680ts rnIPu Fund Co¥t and Valuatlon: At 1st July 2023 Revaluath)n Addilions Disposals (de0ml cost) 1,349.307 At 301h June 2024 Not Book Valu•: A5 at 30th June 2024 As * 30th June 2023 The 101 cost of Land shown at vduation Is £470,959.00. Page 13
LERINGTON FEOFFEES CHARITABLE TRUS TE UNTS 3. Town Lands N•w Sch•m•- Intsngibh A•s•ts Intan ible Assets Intan Iblo Au•ts Gan•ral Pu Fund EntiUemeni8 Brought Fcrward dltions 5993 Value as at 30th Jun8 2024 G8neral Pu Fund Market Value Brwght Fcffward Less Dlsw*al at ca)ng value Invested Add net galn(l08$l on revaluatlon Market Value as at June 2024 299,592 299,592 38,426 Pago 14