LICHFIELD CONDUIT LANDS
Registered Charity Number= 254298
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
Dalns Audit Ltd
Chartered Accountants
St Johns Court
Wiltell Road
Lichfield
Staffordshire
WS14 9DS

LICHFIELD CONDUIT LANDS
INDEX TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGE
Annual Report
Independent Examiners Report
Statement of Financial Activities
Balance Sheet
Notes to the Accounts

LICHFIELD CONDUIT LANDS
ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Reference and administrative infomiation
Trustees..
The Charity Iruslees who served during the year and their appointing bodies are..
J Russell
C P Ablill
T J Roach
Mrs G Boyle
Mrs K A E Churchill
Mr D G Cross
Mrs E A Hindley
Dr A L Hughes
Mr D W Kershaw
Mr S Schafer
Mr A F Smith
B Twivey
Revd Dr A Walsh
Chairman
Vice chairman
Co-oplalive
Co-oplalive
Co-oplalive
Lichfield City Council
Co-oplalive
Ex Officio
Co-oplalive
Ex Officio
Co-optalive
Ex Officio
Co-oplative
Co-optalive
Ex Officio
terminated 15 May 2024
appointed 15 May 2024
Principal Address:
S R James
The Warden
Lichfield Conduit Lands
Bank House FarTn
Woodhouses
Yoxall
Staffs
DE13 8NR
Website:
www.lichfieldconduillands.or
Rggistered Charity No.. 254298
Principal Bankers-
CAF Bank Ltd
25 Kings Hills Avenue
Kings Hill
Wesl Malling
ME19 4JQ
Independent Examiner: M Gurney FCCA, DChA
of Dains Audit Ltd
Chartered Accountants
Sl Johns Court
Willell Road
Lichfield
Staffs
WS14 9DS
Investment Advisers..
RBC Brewin Dolphin
6th floor, The Chatwin Building
81, Colmore Row
Birmingham
B3 2BA
Page 1

LICHFIELD COb4DUIT LANDS
AfiNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
(CONTINUED)
Report of the Trnstees for the year ended 31 December 2024
The trustees preseni their report along with the financial statemenis of the Charity for the year ended 31
Dcccmb¢r 2024. The financial statements have been prepared in accordance Thith the accounting policies
5c( out on pa¥e 7 and comply with the Charity Cornrnission Scheme, the Charities Act 2011 and Accounting
and Reporting by Charities.. Ststement of Recommend¢d Praotice applicable to charities preparing their
accounts in a¢¢ord8nee with the Financial Reporting Standard applicAbl¢ in the UK and Republic of Ireland
effective l January 2019.
Structsre, Governance and Management
History) Objectlves ¥nd Aetivities for the Public Benefit
Lichfield Conduit Lands was founded over 450 years ago and is now gov¢rned by a Charity Commission
Schcmc dat¢d 30 July 1982, as affected by resolutions dated 24 January 2011 And I l December 2013. The
Charity is an unincorporated association. The Charity does not actively fundraise and seeks to continue its
philanthropic work through ihe carefiil stewardship of its existing resou￿¢5.
The Charity existy to provide assistance for the following PUTposes'.
In advancing in such ways as they think fit the edu¢ation (including the social and physical
edu¢ationl of persons under the age of 25 years who are resident or who have a parent or
parents resident in the area of the fornier City of Li¢hfJeld as constituted on the 31 March
1974.
For any charitable purpose for the benefit of the inhabilAnis of ihe said area for which
provision ig not made out of rates, taxes or other public funds, priority being given to the
provision of benefits of a pemianent or enduring nature.
Management and Governance
Following an amendment during 2013. the scheme provides for the appointmeni of12 trustees, 3 ex-officio.
I nominativ¢ and 8 co-oplalive. The ex-officio trustces arc the Rector of the Parish of St Michael Lichfield,
the Mayor of the City of Lichfield and the Chaim]an of Lichfield District Council. Lichfield City Council
appoints the nomin81ive (tijstee. The nominative trustee and co-optative ttustees serve for a period of fivc
year$. New co-optative trustees are identified from people within the local community who have the
n¢c¢ssary skills and interesi and are appointed by the remaining ts￿stees.
The induction process for any newly appointed trustee comprises an initial me¢ting with th¢ Board of
Tru$tees. at which an infonnation pack IS Provided. This includes a copy of the governing document, a copy
of the most recent tNstees' r¢port and accounts, copy minutes of previous trustee5' meetings and a Copy of
the Charity Commission Guidance 'The Essential Trnstee, and 'Charities and Publi¢ B¢nefit'.
The TNstee5 nornially m¢¢t four times a year to consider grant applications and as and when appropriate the
broad strategy and area of activity for the Charity, including investmcnts, reserves and risk management
policies and perforniance. Th¢ day to day administration of grants and the pro¢¢ssing of applications prior
to consideration by the Trustees Are delegated to the Warden.
Risk Revieiv
The trustees review on a regular basis the risks which the Charity faces and lake appropriate action to
mitigate thos¢ risks. To date these have mainly related to investment management where the risks have been
ameliorated by appointing external fund managers to manage a portfolio of diverse investThenls to provide
a balan¢e between capital ￿oWth and incom¢.
Page 2

LICHFIEI.D COl%4DUIT LANDS
ANNL'AL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024 {CONTINUED)
GraDt making Policy and Pro¢edures
The Charity is well known in Li¢hfield and invii¢s Applications from both organisations and individuals.
Each applicant is required to complete a 5taDdard application forni and theTrustees considereach application
on its own merits.
Grant application fornis are availabl¢ from th¢ Warden whose address is shown on page l or from the
website, ￿.￿.￿.11chrieldC()ndU1t1dI7d$.Vr.
Aehievements and Performance
During the year ￿antS totalling £39,698 w¢r¢ tnad¢. A breakdown of this figure is given in note 2 to the
accounts.
Investment Policy and Performince
The Charity derivtt its income from its portfolio of inv¢5tments. The investmeni portfolio is managed by
external fund managers on a discretionary basis to achi¢ve a balanced return from income and capital growth
by accepting a moderate level of risk. Over the year to 31 De¢¢mb¢r 2023, the combined portfolio generated
a iotal return of 7.1 % after fees. This compares with a return of I l. l /0 for the RBC Brewin Dolphin Category
6 benchmark and 7.50/0 for the Asset Risk Consultants Steady Growth Index. The perforniance of the fijnd
is monitored on a quarterly basis by the trustees.
Reserves Policy
Free reserves at 31 December 2023 totalled £245,374. The Trnsiees aim io spend the net income arising
each year on grants and May utilise part of the 2ccumulaied reserves if a large number of deserving
applicaiions are received. The level of Ire¢ r¢s¢rves is monitored and reviewed by the TNslees on an annual
basis. The EndoBThent fund stood at £1,213,309 2131 December 2023.
Public Benefit
The Trustees confirni that they have referred to thc guidancc coniained in the Charity Commission's
general guidance on public benefit when reviewing the Charity's aitns and objectives and in planning
and setiing their grant making policy for the year.
Trustees, Responsibilitie$ in Relatlon to the Flnancial Statements
Law applicable to charitics in Eng.land Wales requires the Trustees to prepare fjnancial statements for each
financial ycar which give x true and fAir Niew of the Charity's financial activities during the year and of its
financial position at th¢ ¢nd of the year. In preparing those financial statements, the Trustees are required
to..
Select suitable accounting policies and then apply them consistently-
observe the methods 2nd principles in ihe applicable Charities SORP (FRSI 02).
make judgemenis and estimates that are reasonable and pnident,.
state whether applicable accounting standards have be¢D followed, subject to any material
departures disclosed and explained in the financial statements.
and
prepare the financial statements on the going concern basis unless i( is inappropriate io presum¢ that
the Charity will continue in business.
The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any
time the financial position of the Charity and ¢nabl¢ th¢tn to ensure that the financial statements comply
with the Charities Act 2011. They ar¢ also responsible for safeguarding the assets of the Charity and hence
for taking reasonable steps for the prev¢ntion and dettttion of fraud and other irregularities.
Approved by th¢ Tru5t¢¢s on 12 March 2024 and signed on their behalf by..
J Russell
P*¥e 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
LICHFIELD CONDUIT LANDS
I report lo the charily Iruslees on my exafflination of the accounts of the charity for the year
ended 31 December 2024 which are sel out on pages 5-9.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance
with the requirements of the Charities Act 2011 I'the Act'l.
I report in respect of my examination of the charity's accounts carried out under section 145 of
the Act and in carrying out my examination I have followed all the applicable Directions given by
the Charity Commission under section 14515llb) of the AGI.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention
in connection with the examination giving me cause to believe that in any material respect..
accounting records were not kept in respect of the charity as required by section 130 of the
Act., or
2. the accounts do not accord with those records',or
3. the accounts do not comply with the accounting requirements concerning the form and
content of accounts sel out in the Charities IAccounls and Reports) Regulations 2008 other
than any requirement that the accounts give 8 "true and fair view" which is not a maller
considered as part of an independent examination.
I have no concerns and have come across no other mallers in connection with the examination
to which allenlion should be drawn in this report in order lo enable a proper understanding of the
accounts lo be reached.
M Gurney FCCA, DChA
Chartered Accountant
of Dains Audit Ltd
Sl John's CoLJrt
Willell Road
Lichfield
Slaffordshire
WS14 9DS
March 11, 2025
Page 4

LICHFIELD CONDUIT LANDS
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 DECEMBER 2024
Unrestricted
In¢ome Fund$
Endowment
Fund
Total
2024
Total
2023
Notes
Income and èndowmènts from:
Investments
Income from listed investmen15
Bank interest
41,767
S07
41.767
507
41,516
254
Totsl Income
42.274
42.274
41,770
Expenditure on:
Charitable activities
Investment management charges
Ward8n's salary
Sundry expenses
Independent examiner
Total
39,698
1.205
9,250
967
1,620
52.740
39,698
8,338
9.250
967
1,620
59,873
23,742
8,053
9.250
1,113
1,500
43,658
7,133
7,133
Nel gainslllossesl on investments
13,9641
106,406
102,442
61,134
Nèt Incomèllexpenditurel
114,4301
99,273
84.843
59,246
Net movement in funds
(14,4301
99,273
84.843
59,246
R¢¢oncillation of Funds..
Total funds brought fc>rward
245.374
1,213,369
1,458,743 1,399,497
Total funds carried forward
230,944
1.312,642
1.543,586 1,458,743
Page 5

LICHFIELD CONDUIT LANDS
BALANCE SHEET
310ECEMBER 2024
Unrestricted Endowment
Income Funds
Fund
Total
2024
Total
2023
Notes
Fixed Assets
Lisled Investments
213,206
1,317,366
1,530,572 1,436,128
Current Assets
Debtors
Balances al Bank..
Deposit
Current
Total Current Assets
3,834
3,834
3,980
15,184
800
19,818
{2,8861
12,298
800
16,932
19,297
3,099
26.376
12,8861
Liabilities-.
Creditors falling due within one year
Net Current Assets
2,080
17,738
1.838
14,7241
3,918
13,014
3.761
22,615
Net Assets
230,944
1,312,642 1,543,586 1,458,743
The funds of thg charity..
Permanent endowment
Unreslricled income funds
Total charity funds
1,312,642 1,312,642 1,213,369
230,944
245,374
1,312,642 1.543,586 1,458,743
230,944
230.944
These financial statements were approved by the Board of Tru51ees on 11 March 2025 and signed
on their behalf by-.
T J Roach
J Russell
Page 6

LICHPIELD CONDUIT LANDS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDEO 31 DECEMBER 2024
1 Accounting Polrci&8
General
Th8 financial slatetn8nt5 have been prep8r8d In accordance with Accounting and Reporting
by Charili&s". Statement ol Recornmended Practice applicabl8 to Gharthes preparing their
accounts in accordance wlth th8 Financial Reporbng Stsn(lard appllcabla in thè UK and
Republic of Ireland IFRS1021 effective 110112019. the Financial Reporting S18ndard
applitable in UK and Republic of Ireland IFRS1021 and the CharTlies Act 2011.
The clwrity cmst￿leS 8 publlc b8nèfit trntityas defined by FRS 102.
Th8 ￿nanc￿21 st2￿ments complywith FRS 102.
The finan¢ial ststemenb have b8en prepared under the hisloncal cost convention ilams
rtrco9nistd al r￿st or Ir8nsaclion value unless otherwise statèd in the relevant nows) to these
account8.
Tht financial statements have been prepar8d on an ac¢ruab ba51$.
Grants
Grants payable are charg8¢ In th8 year when the offer is conveyed to the reclpitnt, axcepl
whère the offer is conditional. such grants baing ￿cOgnised as expenditure ¥vhen Ihe
condibons allad)ing are fulfilled. Grants offered subject to condltions which have rK>I b9en rnet
al the yearend are noted as a commitment bul not accrued as expenditure.
Funds
Unrestrrt6d income fjJnds Comprise Imse funds whith the trustees are fr88 to use in accordan(
smth the charilable objects
The endowment fund represents those a$5els wtmth musl be hehj p8miananly bythe charity.
principally inveslmenls. Income arising on tha endowfflent fund can be used In accordanca with
the 04ects of the charity and is indudg(S as unrestricted incomt.Any Gapital gain5 or105se$
arising on the invesiments fomi part ofthat fund Investmenl m8n8gement charges relati￿ to
the fund are charged against Ihe fund.
2 Charltable A¢tlvitlas
2024
2023
Grants to Or9anisations
Grants lo 912023-141 IndivhJLgls
34,188
21,442
5,510
2.300
39.698 23,742
Grants to organisations aro as follows..
Lichfmild Arts re Blues arKI Jazz Festival
LKhfi•ld Prpde
Lrhf161d Youlh Musical Theatra
Elile AG4demy
Lichfield Garrick Youth Theatre
Wa¢Je Street Church
Lichfi8ld Festival
Nether Stowe School
LiChr￿1￿ Arts re FeslNal of Folk
LIch￿ld Friary Sthool
Guild of St Maws Centr& Lichfield
Ric Nic
Christ Churth School Assocration
chfiehJ Arts re FUSE Festival
1st Lichfield Scout Group
7th Lichftald Sl Chads Guid85
Lichfield C81hedr81
City of Lpchfield Shrievalty
PCC of Sl Micha81 and St Mary Lithfeld
Lichfield 'English Class"
Friends of Lichfield City Slalion
Llthfield Tablt Ténnis Club
LIthfIe￿ W8larwodKs Twst
1.000
2.000
6.000
900
3.000
800
3.000
1,500
1.000
500
2.500
916
5.000
3.500
1.822
750
3.000
500
soo
3,462
2.000
2.OOD
3.000
2.OOD
2.000
515
1.000
3,465
23,442
2,000
21,442
34.188
Less Grantwrfttan back.. U¢M8ld TtEatre
34.188
Pa*7

LICHFIELD CONDUIT LANDS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
3 Investment management charges
In 2023 the expenditure on investment management charges lolalled £8,053 of which
£1,228 was expenditure from unreslricled funds and £6,825 was expenditure from
the endowment fund.
4 Independent Examiner
2024
2023
Independent Examiner's Fees re independent examinatlon
Independent Examiner's Fees for other services
600
1,020
1,620
600
900
1,500
5 Trustees Remuneration and Expenses
No remuneration directly or Indirectly out of the funds of the Charity was paid or payable for
the year lo any Iruslee or lo any person or persons known to be connected with any of them.
In 2024 an Annual Feast was held for Iruslees at a cost of £799 (2023 - £7291.
6 Listed Investments
Total
2024
Total
2023
UK Listed Investments
Investment Portfolio Cash
1,523,066 1,423,757
7,506
12,372
1,530,572 1.436,129
Accumulated Endowment
Income Fund
Fund
Total
2024
Total
2023
Investments held al 01.01.24
Additions al cost
Disposals al carrying value
Add nel gainl{lossl on revaluation
Investments held at 31.12.24
215,051
10,000
110,0211
13,964
211,066
1,208,706 1,423.757 1,365,931
136,743
146,743
375,425
1139,8551 1149,8761 1378,733}
106.406
102,442
61.134
1,312,000
1.523,066 1,423,757
All investments are carried at their market value.
All investmen15 are qLJoled on the London Stock Exchange.
Asset sales and purchases are recognised al the dale of trade al cost (that is their transaction
value).
7 Debtors
2024
2023
Investment Income
3,834
2,053
3,834
2,053
In 2023 all debtors relate lo unreslrieled income funds.
Page 8

LICHFIELD CONDUIT LANDS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
8 Bank balances
2024
2023
Deposit
Current
12,298
800
13,098
19,297
3,099
22,396
Unrestricted income funds
Endowment fund
15,984
12,8861
13,098
23,677
{2,871
22,396
9 Creditors
2024
2023
Creditors and accrued expenses
Grants authorised bul not pai(S
3,918
3,761
3,918
3,761
Unrestricted income funds
Endowment fund
2,080
1,838
3,918
2,055
1,706
3.761
10 Related Party Transactlons
The Charity has a very close relationship with Lichfield District Council and Lichfield City Council.
The Mayor of Lichfield and the Chairman of Lichfield District Council are ex-officio trustees.
In addition, Lichfield City Council appoints one Iruslee.
11 Analysis of Net Assets Bètwegn Funds
Accumulated Endowment
Income Fund
Fund
Total
2023
Fixed Assets
Current Assets
Current Liabilities
Fund Balance
218,380
29,049
2,055
245,374
1,217,748 1,436,128
12,6731
26,376
1,7061
13,7611
1.213,369 1.458,743
Page 9