Charfty Teglstration number 237841 THE SIR EDWARD BOUGHTON LONG LAWFORD CHARITY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
THE SIR EDWARD BOUGHTON LONG LAWFORD CHARITY LEGALAND ADMINISTRATIVE INFORMATION J Venner C Graham C Langham JLWS Reverend P Wllkinson Charlty numbgr 237841 Principal address 7 College Road Iloughby Rugby CV23 8BN Independent èxaminer Cottons Specialist Services Linwted Chestnut Field House ChestnLrt Field Rugby Warw¢kshire Untted Kingdom CV212PD Bankers HSBC Bank Ltd 15 Church Street Rugby CV21 3PN Soli¢itoJs Brelhertons LLP Solicitors Montague House 2 Clifton Road Rugby CV21 3PX
THE SIR EDWARD BOUGHTON LONG LAWFORD CHARITY CONTENTS Trustees. report Independent examinerfs port stateEnt of ffinancial acllvits.es Balance sheet N¢)tes to the financial ststements 6-12
THE SIR EDWARD BOUGHTON LONG LAWFORD CHARITY TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 TtE Trustees present their annual report and finanoal stslemenls for the year ended 31 Dember 2023. The finanual statements have been prepared in accordance with the accounting policies sel OLrt in note 1 to the finanoal statements and eompty with the goveming document. the Chanties Act 2011 and 'Accounting and Reporbng by Charities.. Statement of Recommended Practice applicable to charities prepariThJ their accounts in accordan th the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)- (effective 1 January 20191. Objectives and activities The objectives of the charity is as follo5.. 11 To PrOde pensions for persons qualified" 21 To provide relief for petsons resident in the area of benefil are in need, hardship or distress.. al By making grants of money lo them., b) By prOEng or paying for goods, semw orfactlities for them., c) By makirrfJ grants of money lo other persons or bod¢es who promde goods. services or facilities lo those in need. 31 To provide assistance lor the underprivileged thildn of the parish and for students or other yOLtng people are in need of finanual help for the furtherance of their studtes or careers. 41 And in so far as the income of the charity cannot be Applièd towards the objects above, it may be applied for the bertefit of inhabilants of the area ol benefft as the Irustee$ think fil. "Petsons who, through no fault of their ¢M and in spite of their efforts, whether through ill health, disabifrty or unfortunate circumstances, are not able to enjoy the standard of life enjoyed by their peers. To be eligible for pension payments, daimanls must skni that they are in receipt of pension csedit and resided in the cAvil parish of Long Lawford for at least five years before their appointmenl as pensioners. Public benefft The Tnjslees have paid due regard lo gvidance issued by the Charity Commission in deGding 8t aetivÉties Ihe Charity should undertake. Achievemgrrts and perfom)ance DistiibLrteit monthly pensions and Christmas bOl$ to pensioneTS in the parish. The total penslon payments made during the year was £9,300 {2022 - £9.470). Included within this arnOt are payrnents to pensioner5 who receive an a(Jditional Christmas grant of £40. Made grants and donations lo sick or disabled persons for consuiiants, fees and hospital exper¢ses. Promded mobility aids and stairlsfts for disabled people. Made grants and donations to Residential Homes and Asso¢iations who ¢ontrtbute in some way to the welfaTe and [e of local residents, lo stents. to underprivi1ed children through the village school, to other lo¢al schools to enable them lo improve faalities which will benefit Long Lawford children. to local churches and welfare and youth organisations. None of the aid PTovide(I to the 5thools should have been provided by the local aLthorsty. 2023 2022 Donations and granls to indimduals and groups £11,374 £17,927 Christmas grants to charities in RugbyArea £31.51)0 £36.000 £42,874 £53,927
THE SIR EDWARD BOUGHTON LONG LAWFORD CHARITY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Financial Review The Chaftiy had income in Ihe year of £74,813 (2022- £107,189) and spent £89.42012022- £97,946) on chaTitable activities leaving a defiLYt before gain5llosses on investmerrts of £14.60712022- £9,243 nel surplus}. Due to Ihe fair value method of investment propety and the reduction in annual rent from one of Ys properties, re was a revaluation loss of £285,000 refiected in the Statement of Financial Actiiriti'es. There was however, a gain on investments hesd in sum of £31,292 {2022- £37,503 lossl. resulting in an overall Ioss on investments of £253.70812022 - £37,503). reducing the closing fund at 31 December 2023 to £1,606,304 12022- £1.874.619>. StNcturg9 gov&rnance and manag¢m¢nt The Charity is an lincorporated charity first established under a deed dated 24th Juty 1973 (amended 21st December 2001}. The Charity is regisleretj wlth the Charities Commission uThJer Charity Number 237841. The Trustees vtho served dng the year and up to the date of signature of the finanaal statements were: J Howes (Resigned 29 Febnjary 2024) J Vent7er C Graham E Barlow C Langham J Lewis Reverend P Wlkinson (Resigned 29 February 20241 Methods used to recruit and appoint newTrustee is by the way of nomination which is seconded by current Ttustees al an offiual meeting held quarterfy. The Trustees, retN)rt was approved by the Board ofTrustees. J Lewis Trustee Date..
THE SIR EDWARD BOUGHTON LONG LAWFORD CHARITY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SIR EDWARD BOUGHTON LONG LAWFORD CHARITY I report to the Twslees on my examination of the financial statements of The Sir Edward Boughton Long Lawford Charity (the Charity) forlhe year er¥Jed 31 Decembèr 2023. Responsibilities and basis of report As the Trustees ol the Charity you are responsible for the preparation of the financial statemertts in accordan with the fequiremènts of the ChartEiesA¢t 2011 Ithe 2011 kt}. I report in respect of my examinaiii)n of the Charivs financial stalemÈnts urried out vler section 145 of the 2011 Acl. In carrying out my examination I have follovRd all the applicable Direcb"ons given by the Charity Commission under section 145(5)Ibl of the 2011 Act. Independent examinefs ststsment I have ¢gmpleted my examination. l Gonfirn that no matters have come to my attention in conneGlion with Ihe examination giving me cause to believe thai in any material respect: accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act: or the finanrial statements do not accord those records; or the financtal statements do not comply with the applicable requirements conceming the fom and content of accounts set out in the Charities {A¢Unts and Reports) Regulations 2008 other than any requirement that the accounts gNe a true and fair wew which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection wth the examination to )thich attention should be dr in this report in order to enable a proper understsnding of finan¢kal statements to be fta¢hed. James PAelvin BA BFP FCA Cottons Speualist seICe5 Ltmlted Chestnut Field House Chestnut Field Rugby dck$hIre CV21 2PD United ngdorn Dated". Is jo¥
THE SIR EDWARD BOUGHTON LONG LAWFORD CHARITY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted Unrestricted funds funds 2023 2022 Income from: Investments 74.813 107.189 Total inc¢)mÈ 74,813 107,189 ExndIre on: Charttable actiwties 89.420 97.946 Tolal expendithre 89,420 97.946 Net gainsl{losses) on Investments 1253,7081 137,5031 Net expenditure and movement In funds {268.315) {28.2601 Reeonciliation ot funds: Fund balances at 1 January 2023 1,874,619 1.902.879 Fund balances at 31 December 2023 1,606,304 1,874.619 The staternent of financial activilles In¢lwJes all gains and losses recognised in the year. All irthme and expenditure derive from continuing actiirities.
THE SIR EDWARD BOUGHTON LONG LAWFORD CHARITY BALANCE SHEET ASAT31 DECEMBER 2023 2023 2022 Notes Fixed assets Invesbnent propety Investments 11 12 880,000 584,098 1,165,1)00 402,807 1,464,098 1,567,807 Current assets Debtors Cash at bank and in hand 13 4,821 216.495 2,918 356,629 221.316 359,547 creditS- amounts falllng due within one year 14 179,1101 (52,735) Net curfent assets 142.206 306.812 Total assets loss currant liabilities 1.606,304 1.874,619 Net assets excludlng penslon Ilabllty 1,606,304 1.874,619 The funds of the Charity Unrestri(tsd fvnds 1.606.304 1,874,619 1,606,304 1,874.619 The finanoal statements were approved by the Trustees on ... J Lews
THE SIR EDWARD BOUGHTON LONG LAWFORD CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Aeeounting pollcles Charity Infomiation The Sir Edward 8oughton Long Lawford Charity is an unincorporaled tharity first estsblished under a deed dated 24th Juty 1973 (amended 21st December 2001) . 1.1 Accounting convention Tte financial statements have been prepared in 8ccordanf wth the Charitys trust deed, the Charities Act 2011, FRS 102 "The Finanual Reporting StarKJard applicable in the UK arxl Republic of Ireland. fFRS 102) and the Charities SORP 'Accounling aTrJ RepOra by ChaTilies.' Statement of Recommended Practice applirable lo chatitses preparing their accounts in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" {effective 1 January 20191. The Charity is a Public Benefit Enltty as defined by FRS 102. The Charity has taken advantage of the proviston5 in the SORP for charitie5 not to prepare a Staternent of Cash Flow5. The financial ststemenls have departed from the Charities (Accounts and Reports) Regulations 2008 only lo the extent required lo prowde a tnje and fair view. Thts departUTe has involved following the Statement of Recommended Pradice for charities applying FRS 102 rAlher than the version of the Statement of Recommended Practice which is referred to in th@ Regulations but which has sinee been wthdrawn. The finanoal strtements are prepared in steming. which is the functional currency of the Charity. Monetary 8mounts in these ffinanrjal stalements are rounded to the nearest £. The financial statemerts have been prepared under the historical cost tt•nvention. modified to include the revaluation of freehold properties and to indude investment properties ar certain finanual instrLments at fair value. The principal accounting policies adopted are set out below. 1.2 Going ¢oneem At the time of appioving the financial statements. the Trustees have a reasonable expectation th81 the Charity ha5 adequate resources to continue in operatsonal existen¢e for the foreseeable future. Thus the TteeS eonlinue to adopt the goiro ¢onM basis of aG¢ounting in preparing the fjnan¢ial statements. 1.3 Charitable funds Untestricled furKis are avaitable for use at the discretion of the Trustees in furtherance of their tharitsble objeclives. 1.4 Income Income is recognised wl*n the Charity is legally entiued to it after any performan conditions have ken met. the amounts can be measured reliably, and it is probable that income will be received. Cash t1onations ale 09n¢$ed ¢)n receipt. other donations arè retgnised once the Charity has been notified of the donation, unless perfornian conditions require deferral of the amount. Income tsx recoverable in relation to donations received under Grft Aid or deeds of Venant is recognised at the lime of the donation. Legaaes are recognised on receipt or OthSe rf the Charity has been note of an impending distribLrtion, the amourrt is knoNgn, and receipt is expected. If the amount is not known, the legacy is treated as a iiingent asset.
THE SIR EDWARD BOUGHTON LONG LAWFORD CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 ACUntIng policies (Continued) 1.5 Expanditura Expendf£ure is reeognised once there is a leg81 or construclive obligation to transfer enOmiC berEfft lo a third party, it is probable that a transfer of economic beneffts will be required in settleFrnl, and amount of the obligation can be measured reliabty. Expenditure is dasstfied by actiwty. The costs of each actiwty are made up of the totsl of dirt costs and shared costs, indudiw support costs involved in undertakn'ng each activity. Dired costs athbLrtalJe to a single athvity are allocated diiectly to that actiwty. Shared cosls Mthich contribute lo more than one actiwty and support costs which are not attributable to a single activty are apporboned between those activitEs on a basis cons15tent wsih the use of resources. Central staff costs are all¢Jeated on the basis of lime spent, and depreciation th8rges are allocated on the portion of the asseys use. 1.6 Investmgnt property InvE51Tnent property. which is property held to eam rentals andlor for capital appreciation. is In3{[Y reeognised al cost, which includes purthase cost and any direcJy attributable expenditure. Subsequent il is measured at fair value at the repotting end dale. The surplus or deficil on revalualion is refY)gnised in profit or loss. 1.7 Fixed asset investments Fixed asset investments are in¥tgally measwed at transaction pri excluding transaclion costs. arxl are subsequenlty measured at fair value at each reporting date. Changes in fair value are reeognised in net inconW{expenditurel for the year. Transaction costs are expensed as incurred. 1.8 Cash and ¢ash equlvalents Cash arKt cash equivalents include cash in hand. depostts held at ea]1 wth banks, other short-tem liquid investsnents whth origin81 maturities of three months or less. and bank over(Irafts. BanK over(Jrafts are shown swttu"n borrowngs in wrrent liabilitie5. 1.9 Flnancial instruments The Charity has elected to appty the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Ofher Financial Instruments Issues, of FRS 102 to all of its financv41 Irtruments. Finanu81 instwmenls are reeogniqed in the chari$ balance sheet when the Charity becomes paty to the ntractual provisions of the instrument. FinancAal assets and liabilities are offset, th the net amounts presented in Ihe finanal $tatements. when there is a legally enforceable right lo set off the recognised amounts and there is an intention to settle on a nel basis or to realise the asset and settle the liabilrty simultaneousty. Basic finanual assèts Basic finanaal assets, vthi¢h indude debtOTS and cash and bank balan$, are initially measured at transaction price inding transa¢tion cosls and are subsequenuy Carried al amorti$ed ¢ost using the effective interest method unless the arrangerftent constitutes a finanung transath'on, where the transaction is n*asured al the psefit value of the futLEre receipts discounted at a market rate of Interest. Finanual assets dassified as receivable vhthin one year are not amort(s.
THE SIR EDWARD BOUGHTON LONG LAWFORD CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies (Continued) 84C Itnancialliabili&es Basic financAal liabilities, indudiru creditors and bank loans are initialty recogni5ed at transaction price unless the arrangement constitutes a financtng transaction. where the debt instrnrrEnt is measured at the pwesent value of the fiJture payments diseounled at a mathet rate of interest. Financial liabilities dasstfied as payable vthin one year are not amortrsed. Debt instruments are subsequentty Carried at amortised cost. using the effective interest rate method. Trade creditors are obligations to pay for goods or Servi that have been aC4re in the ordln¥y eourse of operations from suppliers. Amounts payaNe are dassffied as cAJrrenl liabilities if payment is due within one year or less. If not. they are presenle(l as non-CUTrent liabilities_ Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognitlon of financialliabilitles Finanual liabilrties are derecognised when the Charilys contractual obligations expSre or are di$tharged or cancelled. 1.10 Employee bengfts The cost of any unused holiday entitlement 1$ recognised in the period in which the employee's services are Termination beneffts are recognised tmmediatety as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to promde lerminalion beneffts. Critical accounting estimates and judgempnts In the application of the Charity's toUnting policies. the Trustees are required lo make judgements. estimates and aUMptIonS about the canwng amount of assets and liabililies that are not readity apparent from other Sour$. The estimates and assoaated assumplions are based on hislorical experien and other factors that are cons¢iJered lo be relevant. Actual results mty differ from these estimates. The estimates and underlying assumptions are reviewed on an orKJoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revÈsion affects Ihat riod, or in the period of the reVlon and future periods Ythere the revision affects both currerrt aTrJ fijture periods. Intome from investments UnrastriCt Unrestricted funds funds 2023 2022 Rental income Income from listed investments Interest receivable 86,273 6,895 1,645 99.477 6.869 74,813 107,189
THE SIR EDWARD BOUGHTON LONG LAWFORD CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Expenditure on charitsble activltles Relief of hardship 2023 Relial ol hardship 2022 Direct costs Admin Inoependent eXamir$ fees Building repairs TelemmunICat[0ns Insutance vertising Alotmnt expenses Bank charges Legal and professional staff costs 558 1.110 250 290 3,887 1,281 2.405 122 4,819 22,524 164 1,110 7,160 220 3,568 1.192 450 127 20,558 37,246 34.549 Grant funding of activities {S note 5) 52,174 63.397 89,420 97.946 Anatysis by fund Unrestricted fijnds 89.420 97.946 Grants payable Rellef of hardship 2023 Relief of hardship 2022 Grdnts to instilutions-. Christmas grants 31.500 36.000 Grants to individuals 20,674 27.397 Net movement In funds 2023 2022 The nel movement in funds is stsled after thargingll¢rediting)'. Fees payable forthe independent examination of the charitys financial statements 1.100 1,100
THE SIR EDWARD BOUGHTON LONG LAWFORD CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 14 Creditors: amounts falllng due within on9 year 2023 2022 Notss Defetred income Other creditors Accnjals and deferred income 54,500 23,500 1,110 28,125 23,500 1.110 79,110 52.735 15 Unrgstricted funds The unrestricted funds ofthe charty comprise the unexpended balances of donations and grants which are nol subject to specific conditions by donors granlors as to how they may be used. These include designated furxls which have been sel aside out of unrestricted furKls by the trustees for specific purposes. At l January 2023 Ineoming resources Resources expended Gains and At31 losses December 2023 General funds 1.874,619 74.813 {89,420) {253.708} 1,606.304 Previous year. At 1 January 2022 Incoming Re50ur¢as resouices expended Gains and At31 losses De¢gmber 2022 General funds 1.902,879 107,189 (97,946) {37.503) 1,874.619 16 Relatsd party transactlons There were no disdosable related party transaction5 dullng the year {2022- Th)nel. 12-