THE LAW MEIKJRIAL HOUSES Charlty registratlon numbor 234796 REPORT AND UNAUDITED ACCOUNTS YEAR ENDED 31 MARCH 2024
THE LAW MEMORIAL HOUSES TRUSTEES ANNUAL REPORT FOR YEAR ENDING 318f MARCH 2024 CONTENTS TnBtees annual report Objective8 and Actlvftl88 RegeNes Poli FLrture Plans Structure. Gov8mance arKI managem Independent examlner8 report Recelpts arKI Paym8nts account Slaterrent of Assets and Liabilitie8 Thomas Shepherd Law Scholarship Twst
THE LAW MEMORIAL HOUSES FOR YEAR ENDING 31W MARCH 2024 REFERENCE AND ADMINISTRATIVE INFORMATION Registsred Charity Number: 234795 Registered Address: Trustees Post box Law Memorial Houses Bishops Tawion 8amstspI8 Devon EX32 OAG Trustees: Mark Bery (Chair) Lisa Hannan (resigned June 2023) RKhard Vain (r8signed October 2023) Bevedey Allingham (Treasurer) Qoined October 2023) Sue Hilsdon (Secretary) Charlotte Hambty Liberty Saunder8 Matthew Colllns Qoined February 2024) Banker8: Natwest 41 High Street Bamstapl8 Devon EX311DA Solicitors: Toller Beattie Devonshire House Riverside Road Pottington Business Park Barnstw DevoTr EX311QN Independent Examiners: LCA Chartered Acu)untants 13 Silver Street Bamstapl• Devon EX32 8HR
THE LAW MEMORIAL HOUSES TRUSTEES ANNUAL REPORT FOR YEAR E14DING 318r PA4RCH 2024 The Tfusts88 ha pknuro in pr8sentsVJ Towts on the 8nts of the charity for Ihe year ended 3181 Marth 2024. ObbGtlv•• ar aatlvlts• The Char¢s object Is to prDvide aImBIN awnxxlation for prsons of limtted niean8 who are Inh•bitiints oflha w)ty of Devon, a pr6farofKe for p618on8 YhO are inhabttants of th• porknh of Bishop$ Tavrtm. The ¢harty Cufrenty •thlo¥e6 Its ct by &lmlnistwrt the Law VAnorial 8hop3 T8Wton. In CAfrying the Charib/8 c48c( thè Tru have regwd to the guldancè i83u&I by th• Charty Comty#IDn on public The CharSty 15 a momber of the Almshouse A580clatlon (M). and Iho Tr cLThuIt the guid¢8 of Ihat Th8 Law Memorfal Hout•• buildlng 16 a vwy attractive Ilsted Vlctorian bulldlng set ih mature gardern and ovarkK4(ro the valley of fv Rlvei Taw. conGIBting of fr 8lng ats and 4 d(Ale mal6onth. providwyj accmodalon for 12 people. T aGC(xnmodaiion has boen fulty 0ed throughout the y•ar. Two Trustées resvJngJ, the Chalrper8M Treasurer fortunalety Iwo naw and Bev•rkny Mfingham, the Treasurer rolo. North Devon Homeg (NDH) cofttlnu6 to act our MgnAolng Agen( mangglng the d8y.ttrday affairn. wid thelr representaliw, Llnd8ey Eathan, Mntlnue8 b provido rebevant advke and infonnatsn at our meelings. The Charity ¢ontinue8 to carefully manage the ma#ften•nce of the propwty, Yth refurbishmem planned for the roof and chimn•ys In the Swimw of 2024 by lo¢al contra¢tm speciali80 In listed con8ervatKXI WO The extenth and utIfUl garths oonl1n1 to be maintalned by a k)cal conlrnc and the r88idents. T We8kty malnlww Cttawge Is rnvith*d yearfy and 1$ 11 based on ourmrt rats8 of kjcal houslng aUtr4iance. Law Schd•r•hlp Trt Th1$ Trust is a 8rMlI tharltable IJu8t endowed by the saffo benefactor as the Law MnorIal House8 arKI Is adminlstwed by thg same tN8toos. A sum was donated to ts Sth North Devon sts in ye8r but as twe has been red dTraNj for tha Tnjst over the past kn¥ yearn, the Tfustees are seeklng to dose thi• TTUSt duflNJ tho comirvJ year.
THE LAW MEMORIAL HOUSES TRUSTEES ANNUAL REPORT FOR YEAR ENDING 31•T MARCH 2024 Ro8•rvos Pollcy The Truste8s have overall responsibility for 8ecuring ts effic*nt and effeGti administrknn of the charity in it8 resour¢es. Accordingly. ts Tru8tees regard proper control of the chartys finances a6 belng of uimst Importano. The Trustees are mindful of the need to en8ure that tho a$ts of the Trust are kepl good and proper order, improved whén ocea8ion arises and safeguarded against unexpeGled occurrerKes and liabllities. The Trustees are therefore r8quir8d to make provision for future unexpecled or excepb.rmal expen8es which cannot readily be covered by the incom8 of a single year. Provision also has to be made to ensure the SfTK)olh admlnlstratlon of current expdItre. Wrth the foregoing In mind. th8 Trustee6 8eek to makntain adequate reserves a8 surplus fvnds to ensure that they are able lo meetthe demands of an unceriain fulure. The following are some of the matter8 the Trustees ha laken into account in determlnlng the current level of reserves. Thi818 by way of illustratlon only and 18 not interKJed to be 8 full and exdusive Ilst. FundirvJ of large repalr8 or other works of a cyGli¢al nature (e.g. roof) Fundlng of extThaordinary or emergency repairs or other work8 Temporary rahousing of residents during such w(xks Creatirbg a contingency fund to mat possible unexpethd incr8as8s in budgeted item8 Covering Ihe pOssle l¢)ss of income from prolonged vacancies Covering unexpected liabilities or oblualions e.g. gaI costs Covering temporary inadequacy of fvnds in the Gurrent account. For the wtrent year the Truslees to rnaintain Reserves al not lè88 than £60.000. the Reserrfes are reduced by expenditure from them for any purpose. the Trustees will. as soon as practicable thereafter. rèview the Reserves Policy and detennne what steps rf any naed to be taken concemng the level of ReseNes. This policy is to be reviewed fr(Yn time to time during the year and in parb'wlar at the annual general medng. Future Plan• There are three main areas of focus for the comlrYJ year. 1. Completion of the roof. chlmney and general bU11j repairs. 2. Refurbi¥hm8nt of the meeting room to maintain and preseNe its heritage arKI to rn(Klernl88 It for more reguSar usage alow with consideratlon of further communty use.
THE LAW MEMORIAL HOUSES TRUSTEES ANNUAL REPORT FOR YEAR ENDWG 31sf IAARCH 2024 FUrn plan• ¢ondnu•d... 3. Th• chary In bgal Tnmt to beAxxne an Incorporat Charikb Organlsallon OCO). are plamkng to th8truct a Cl•rk to rnanag8 th• d4Y adminljtratkjn Dn b•half of fnmtees and a solldtor to support ts ICO Thè Law vorfal HOU19 a regi6terl tharity created in 19th Century and Is now govemed by thè Schemedatsd 611 00b¥ 1961. tt Is curr an unln¢orpttatsd Tl Charity 16 run by a Board of Tru8tee8. New TTLffjte8s ar• 8pPoknt ty resomrtlon of the TLvJt888 at 8 $Sla1 meotlng. The TrLffjteeB dedare Ihat they h8ve approved the Tnmtees, Report above. SvJffftY on behaK of the ChariV8 Ttustee8.' PAARK BERRY (Ch•lrl Date: IG. ID. loL
THE LAW MEMORIAL HOUSE8 11rnEPNT EXAMINERS REPORT TO THE TRUSTEE8 FOR TrE YEAR ENDED 311T PaARCH 2024 I report on the accounts of Gharily for the yw endad 3181 of March 2024 whi( ve set out Dn paga8 8 to 7. R•8wxlblllty and l>a•l• of r•port A8 the charws trustses you are respon8ib18 for the preparnlion of tho accwnts In cofdance requlfenwts of tho chtieS Act 2011 (Ow 2011 act). l rnport in respect of my examinati( ofts carWs ac¥yJunts carrkd out under 88(aion 145 of the 2011 Act And kn txrryiffj out myexamination, I hav• folkwed the applcable glv•n by Iha Charty Commls8ion ur 80(al( 146 (S)(b) of Ihe Act. Ind•pnd•nt •xaminor •tatsm•nt I ha coffpleted rny exarninat•)n. I confimi that no matarial matter8 have c(xne lo rny attrtIon lft C•xrth wmh the examinatson which gNe5 me I80nable cause to believe that In any matertal re8p6cI: • accounting record8 Were not kept In aCance 8eckn 130 of th• 2011 . accounts do nol awd with the a¢xx>unllng rgcords. I Imve no wn¢8 ar ha%* ccffie ecro88 no other mattorn in neCtIon wlth the •xamlThgtion to whiGh attentM?n Should be drawn in order to enable 8 prcper Name: Reb8uxWllllam8 LCA Chartefed Accounlants Address: 13 Silver Stree( B8m8t4)kn, Devon, EX32 8HR IG1(0122H-.
THE LAW MEMORIAL HOUSES RECEIPTS AND PAYMEMTS FOR THE YEAR ENDED 31 PAARCH 2024 RECEIPTS 2024 2023 Weekly Maintenance Charge (WMC) Inte8t 30,399 47,982 TOTAL RECEIPTS 47.982 PAYMENT8 Repairs and Mainten•ie Furniwre and equilment Management fees Insurance SUblp*10n$ Light and Heat Accountancy Sundries Loan repayments 8.961 138 3.438 2.001 5,983 4,437 1,720 399 85 522 (144) 576 428 TOTAL PAYAIEKrs NET RECEIPTS (PAYMENTS) £14,458 £33,18S CASH BALANCE AT 31 MARCH 2023 £94741 £61.556 CASH BALANCE AT 31 MARCH 2024 £109,197 £94.741
THE LAW MEMORIAL HOUSES STATEMENT OF ASSETS AP4D LIABILITIES AT 31 laARCH 2024 CA8H BALANCES 2024 2023 Bank current Aeeount 109,097 94,843 Bank re88DK awunt 98 TOTAL 74 IKVESTMENT ASSETS HfAdlngs in M&G Chariiy Mutti Assel Fund Th888 were Valu al £95,221 at 311f March 2024 (£89.455 at 314 March 2023). Tho tharity also holds unlts In the COIF ChaTities Invesknont Fund on behall of the Thomas Shepherd Law SGholarÉhlp Trust. ASSETS RETAINED FOR CHARITYS USE Freehold property calbd the Law Memorial Houses, 4ltu8ted ift B[stp5 Tavrton. are a pemTrnenl endowmenL Furnitufe and two marblè bu8ts. LIABILMES NIL Approved by tle Board ol Trust886 on: Signed on its bohalf by." MARK BERRY ICHAIR)
THE LAW MEMORIAL HOUSES RECEIPTS ANO PAYAIENTS FOR THEYEAR ENDED 31 IAARCH 2024 REC&PTS 21)24 2023 740 740 PAYMENTS Ch8ritsbk NEf RECEIPTS (PAYMENTS) (£6461 BANK BALANCE AT 31 MARCH 2023 BANK BALANCE AT 31 MARCH 2024