## **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: 1. 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 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