LICHFIELD CONDUIT LANDS Registered Charity Number: 254298
FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2025
Dains Audit Ltd Chartered Accountants 2 Chamberlain Square Paradise Circus Birmingham B3 3AX
LICHFIELD CONDUIT LANDS INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
| PAGE | |
|---|---|
| Annual Report | 1-3 |
| Independent Examiners Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Accounts | 7-9 |
LICHFIELD CONDUIT LANDS ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 Reference and administrative information
Trustees:
The Charity trustees who served during the year and their appointing bodies are:
| C P Ablitt | Chairman from 3 December 2025 | Co-optative |
|---|---|---|
| J Russell | Chairman to 3 December 2025 | Co-optative |
| Mrs E A Hindley | Vice chairman from 3 December 2025 | Co-optative |
| B Twivey | Co-optative | |
| T J Roach | Co-optative | |
| Mrs G Boyle | terminated 30 June 2025 | Lichfield City Council |
| Mrs K A E Jones | Co-optative | |
| Mrs K Greening | appointed 1 July 2025 | Lichfield City Council |
| Dr A L Hughes | terminated 14 May 2025 | Ex Officio |
| Mr D W Kershaw | Co-optative | |
| Ms C Pinder-Smith | appointed 14 May 2025 | Ex Officio |
| Mr S Schafer | terminated 14 May 2025 | Ex Officio |
| Mr A F Smith | Co-optative | |
| Mr K Vernon | appointed 14 May 2025 | Ex Officio |
| Revd Dr A Walsh | Ex Officio | |
| Principal Address: | S R James | |
| The Warden | ||
| Lichfield Conduit Lands | ||
| Bank House Farm | ||
| Woodhouses | ||
| Yoxall | ||
| Staffs | ||
| DE13 8NR | ||
| Website: | www.lichfieldconduitlands.org.uk | |
| Registered Charity No: | 254298 | |
| Principal Bankers: | CAF Bank Ltd | |
| 25 Kings Hills Avenue | ||
| Kings Hill | ||
| West Malling | ||
| ME19 4JQ | ||
| Independent Examiner: | M Gurney FCCA, DChA | |
| of Dains Audit Ltd | ||
| Chartered Accountants | ||
| 2 Chamberlain Square | ||
| Paradise Circus | ||
| Birmingham | ||
| B3 3AX | ||
| Investment Advisers: | RBC Brewin Dolphin | |
| 6th floor, The Chatwin Building | ||
| 81, Colmore Row | ||
| Birmingham | ||
| B3 2BA |
Page 1
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LICHFIELD CONDUIT LANDS
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2025 which are set 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 ('the Act').
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 145(5)(b) of the Act.
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
-
the accounts do not accord with those records;or
-
the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a "true and fair view" which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
M Gurney FCCA, DChA Chartered Accountant of Dains Audit Ltd 2 Chamberlain Square Paradise Circus Birmingham B3 3AX
March 10, 2026
Page 4
Page 4
LICHFIELD CONDUIT LANDS STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2025
| Unrestricted | Endowment | Endowment | Total | Total | |||
|---|---|---|---|---|---|---|---|
| Notes | Income Funds | Fund | 2025 | 2024 | |||
| £ | £ | £ | £ | ||||
| Income and endowments from: | |||||||
| Investments | |||||||
| Income from listed investments | 41,245 | 41,245 | 41,767 | ||||
| Bank interest | 194 | 194 | 507 | ||||
| Total income | 41,439 | 41,439 | 42,274 | ||||
| Expenditure on: | |||||||
| Charitable activities | 2 | 42,026 | 42,026 | 39,698 | |||
| Investment management charges | 3 | 1,190 | 7,412 | 8,602 | 8,338 | ||
| Warden's salary | 9,250 | 9,250 | 9,250 | ||||
| Sundry expenses | 1,258 | 1,258 | 967 | ||||
| Independent examiner | 4 | 1,668 | 1,668 | 1,620 | |||
| Total | 55,392 | 7,412 | 62,804 | 59,873 | |||
| Net gains/(losses) on investments | 6 | 15,606 | 100,145 | 115,751 | 102,442 | ||
| Net income/(expenditure) | 1,653 | 92,733 | 94,386 | 84,843 | |||
| Net movement in funds | 1,653 | 92,733 | 94,386 | 84,843 | |||
| Reconciliation of Funds: | |||||||
| Total funds brought forward | 230,944 | 1,312,642 | 1,543,586 | 1,458,743 | |||
| Total funds carried forward | 232,597 | 1,405,375 | 1,637,972 | 1,543,586 |
Page 5
LICHFIELD CONDUIT LANDS BALANCE SHEET 31 DECEMBER 2025
| LICHFIELD CONDUIT LANDS BALANCE SHEET 31 DECEMBER 2025 |
|
|---|---|
| Notes Fixed Assets Listed Investments 6 Current Assets Debtors 7 Balances at Bank: 8 Deposit Current Total Current Assets Liabilities: Creditors falling due within one year 9 Net Current Assets Net Assets The funds of the charity: Permanent endowment Unrestricted income funds Total charity funds |
Unrestricted Endowment Total Total Income Funds Fund 2025 2024 £ £ £ £ 227,629 1,410,359 1,637,988 1,530,572 6,662 (3,047) 3,615 3,834 390 390 12,298 39 39 800 |
| 7,091 (3,047) 4,044 16,932 2,123 1,937 4,060 3,918 |
|
| 4,968 (4,984) (16) 13,014 |
|
| 232,597 1,405,375 1,637,972 1,543,586 |
|
| 1,405,375 1,405,375 1,312,642 232,597 232,597 230,944 |
|
| 232,597 1,405,375 1,637,972 1,543,586 |
These financial statements were approved by the Board of Trustees on 10 March 2026 and signed on their behalf by:
C P Ablitt Mrs E A Hindley
Page 6
LICHFIELD CONDUIT LANDS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1 Accounting Policies General
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) effective 1/01/2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
The financial statements comply with FRS 102.
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The financial statements have been prepared on an accruals basis.
Grants
Grants payable are charged in the year when the offer is conveyed to the recipient, except where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment but not accrued as expenditure.
Funds
Unrestricted income funds comprise those funds which the trustees are free to use in accordance with the charitable objects.
The endowment fund represents those assets which must be held permanently by the charity, principally investments. Income arising on the endowment fund can be used in accordance with the objects of the charity and is included as unrestricted income.Any capital gains or losses arising on the investments form part of that fund. Investment management charges relating to the fund are charged against the fund.
2 Charitable Activities
| Grants to Organisations Grants to 11 (2024- 9) Individuals Grants to organisations are as follows: 7th Lichfield Scouts Lichfield Festival Lichfield Arts re Blues and Jazz Festival City of Lichfield Shrievalty Lichfield Waterworks Trust Lichfield Gospel Choir Arthur Terry Learning - Scotch Orchard trip Primitas Learning - Friary EDT programme Lichfield Arts re Festival of Folk Lichfield Garrick Theatre Erasmus Darwin Foundation St Giles Hospice Boley Park Pre-School Lichfield Arts re FUSE Festival Lichfield Pride Lichfield Youth Musical Theatre Elite Academy Lichfield Garrick Youth Theatre Wade Street Church Nether Stowe School Lichfield Friary School Guild of St Mary's Centre Lichfield Ric Nic Christ Church School Association 1st Lichfield Scout Group Less Grant written back: Wade Street Church |
2025 2024 £ £ 34,426 34,188 7,600 5,510 |
|---|---|
| 42,026 39,698 |
|
| £ £ 3,600 3,000 3,000 1,500 1,000 2,000 2,550 1,000 2,000 600 1,000 1,000 2,714 5,000 6,000 762 3,500 3,500 2,000 6,000 900 3,000 800 1,500 500 2,500 916 5,000 1,822 |
|
| 35,226 33,438 800 |
|
| 34,426 33,438 |
Page 7
LICHFIELD CONDUIT LANDS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
3 Investment management charges
In 2024 the expenditure on investment management charges totalled £8,338 of which £1,205 was expenditure from unrestricted funds and £7,133 was expenditure from the endowment fund.
4 Independent Examiner
| Independent Examiner's Fees re independent examination Independent Examiner's Fees for other services |
2025 2024 £ £ 600 600 1,068 1,020 |
|---|---|
| 1,668 1,620 |
5 Trustees Remuneration and Expenses
No remuneration directly or indirectly out of the funds of the Charity was paid or payable for the year to any trustee or to any person or persons known to be connected with any of them. In 2025 an Annual Feast was held for trustees at a cost of £938 (2024 - £799).
6 Listed Investments
| UK Listed Investments Investment Portfolio Cash |
Total Total 2025 2024 £ £ 1,615,593 1,523,066 22,395 7,506 |
|---|---|
| 1,637,988 1,530,572 |
| Investments held at 01.01.25 Additions at cost Disposals at carrying value Add net gain/(loss) on revaluation Investments held at 31.12.25 |
Accumulated Endowment Total Total Income Fund Fund 2025 2024 £ £ £ £ 211,066 1,312,000 1,523,066 1,423,757 2,950 189,110 192,060 146,743 (5,000) (210,284) (215,284) (149,876) 15,606 100,145 115,751 102,442 |
|---|---|
| 224,622 1,390,971 1,615,593 1,523,066 |
All investments are carried at their market value. All investments are quoted on the London Stock Exchange.
Asset sales and purchases are recognised at the date of trade at cost (that is their transaction value).
7 Debtors
| Investment Income | 2025 2024 £ £ 3,615 3,834 |
|---|---|
| 3,615 3,834 |
In 2024 all debtors relate to unrestricted income funds.
Page 8
LICHFIELD CONDUIT LANDS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
8 Bank balances
| Deposit Current Unrestricted income funds Endowment fund 9 Creditors Creditors and accrued expenses Grants authorised but not paid Unrestricted income funds Endowment fund |
2025 2024 £ £ 390 12,298 39 800 |
|---|---|
| 429 13,098 |
|
| 429 15,984 - (2,886) |
|
| 429 13,098 |
|
| 2025 2024 £ £ 4,060 3,918 - - |
|
| 4,060 3,918 |
|
| 2,123 2,080 1,937 1,838 |
|
| 4,060 3,918 |
10 Related Party Transactions
.
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 trustee.
11 Analysis of Net Assets Between Funds
| Fixed Assets Current Assets Current Liabilities Fund Balance |
Accumulated Endowment Total Income Fund Fund 2024 £ £ £ 213,206 1,317,366 1,530,572 19,818 (2,886) 16,932 (2,080) (1,838) (3,918) |
|---|---|
| 230,944 1,312,642 1,543,586 |
Page 9