LICHFIELD MUNICIPAL CHARITIES
Registered Charity Number.. 254299
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
Dalns Audit Ltd
Chartered Accountants
St Johns Court
Wlltell Road
LiGhfleld
Staffordshirg
WS14 9DS

LICHFIELD MUNICIPAL CHARITIES
INDEX TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGE
Annual Report
Independenl Examiners Report
Sialement of Flnancial Activities
Balance Sheet
Notes to the A¢counls

LICHFIELD MUNICIPAL CHARITIES
ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Refèrence and adminÈ$tratlve Infom7ation
Tru5tee5:
The Charity trustees who served during the yeaT and their appointsng bodies are..
W M Henwood
C P Eamshaw
H Ashton
C Ball
J M E8gland
M Flèld
JHFOX
J A Greaves
D Greatorex
DrA Hughes
K R Lomas
C J M¢Neill
E Newbould
T J Roach
J Russell
S Sch8f8r
N G Sedgwick
C Rstokes
Chaimian
Vice chairman
appointed Odober 2024
appointed November 2024
expired June 2024
explred Septernber 2024
appointed Novombar 2024
expired Novembar 2024
expired Novèmber 2024
explred May 2024
appointed June 2024
rèsigned April 2024
appointed September 2024
Co-optallvè
Co-opt8tive
Llchfield Cty Council
Llchfield City Council
Co-optalive
Lichfield Ctty Council
Lichfiel¢J Cty Council
Lichfield Cliy Council
Lichfield City Coundl
Ex~ officAO
C(FOPtalive
Co-optstive
C%>optslive
Co-optstive
Co-optative
Ex-officio
Co.oplative
Co-opl8tlvo
appolnled May 2024
PFinclpal Address:
S R J8mes
The Clefk Lt¢hfield Municipal Charities
Bank House Farm
Woodhouses
Yoxall
Stsffs
DE13 8NR
Webslto:
www.llchf￿ld1llunIcI
al.o
.uk
Reglstsred Charlty No: 254299
Prln¢ip¥l Banker$:
CAF Bank Ltd
25 Kings Hills Avenue
Kings Hill
Wesl Mallino
ME194JQ
Independent Ex#mlnor: M Gumey FCCA, DChA
of Dain5 Audit Ltd
Ghartered Accountants
Sl Johns Court
Wiltell Roa
Lichfield
Staffs
WS14 9DS
Investment Advlsers: RBC Brèwln Dolphin
6th floor, The cha￿1n Buildi
81. Colmore Row
Birmingham
83 2BA
Pag8 1

LICHFIELD ￿L￿NICIPAL CHARITIES
ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINLED)
Report of the T￿SteeS for the year ended 31 December 2024
The trnstees present th¢ir rq)ort along with the financial statements of the Charity for the year wd¢d 31
Dec¢mber 2024. The financial statements hai'¢ been preparcd in accordance with the a¢rounting poli¢ies
s¢1 out on page 7 and ¥0￿pIY with the Charity CommissioD S¢heme, the ChArities Act 2011 and
Accounting and Reporting by Charities.. Stal¢Tn¢nt of Recommended Practice applicable to ¢harili¢$
preparing their accounts in accordance with th¢ Financial Rew>rting Stsndard applicabl¢ irt the UK and
Repllblic of Ireland ¢ffectiv¢ l January 2019.
Strllcture, Governance and Management
Hlstoryy Objectii'es and A¢tivities for the Publi¢ Benefit
Lichfi¢ld Municipal Charities was establi5hcd in 1654 L￿d is now regulated by a Charity Commission
Scheme which was s¢al¢d on 24 Septcmher 1982. The Charity is an Uninco￿Or￿ted asso¢iation. The
Charity does not actively fundraise and s¢¢ks to continue tts phi12nthropic work through the ¢arefiLI
stewardship of its existing resour¢es.
Following the remodclling project, which was completed during 2022, Lichfield Municipal Ch8riiies now
comprises twelve AlJnshouses known as William Lunn Homes, which are situated in Li¢hfs¢ld. All are
$uitabl¢ for couples. The Almshouses ar¢ available for oc¢upaiion by poor illhabitants of the City of
Lichfi¢ld.
Afi¢r paying the co$ts of maintaining the property and expenses in¢idental to th¢ administration of the
Chariiy, any sU￿]uS is available for th¢ relief of need. either g¢nerally or individually of persons resident
in the area of the fornier City of Lichfield a5 ronstituted on 31 March 1974.
Management and Governance
Following an arn¢ndment during 2013, the Scheme provides for the appointm¢nt of 14 trnsiees, l ex-
offi¢io, 3 nominative and 10 co-optstivc. The ex-officio trust¢¢ is the Mayor of the Ciry of Lichfi¢ld. The
three nominativ¢ trustees are appointed by Lichfield City Council. Nominative trusteeg serve for a period
of four years. Co-oprative tNstees sen'e for a period of five y¢ars. New co-optative tr￿Stee& are identified
from people within the local communiry who have th¢ n¢¢essary skills and i11t¢￿$t and are appointed by
th¢ r¢maining trugtees.
Th¢ inductÉon process for any newly appointed irustee comprises all initial meeting with the board of
trustees at whi¢h an inforniation pack is provided. Thi5 includes a copy of the governing document. a copy
of the most rec¢nt annual report and a¢counts, copy minutes of pre￿iOuS tru5t¢¢s' meetings and a copy of
the Charity Commission GuidaD¢e'The Essential Trusi¢e" and 'Charities ¥nd Public Benefit,.
The trnstees nornially meet four ti￿e$ a year to consider the Charity's affairg and as and when appmpriai¢
the broad sirategy and area of activity for the Chdriiy, including consideration of grant making,
investments, reserves and risk management polici¢s 2nd perfonnance.
The day lo day administration of the Charity is d¢l¢gated to the Clerk.
Ri$k Review
The trustees have examined the major int¢mal and external risks which the Charity faces and eonftrni that
systems have been ¢st8blished to minimise these risks.
Grant making poll¢y and procedures
The Charity is well known in the City and invites applications from individuals and organisations. Each
application is congidered on its own rnerits.
(irant appli¢alTon forn)s arc available from the Cl¢rk whose address is shown on page l or from th¢
website, www.liehfieldmunicipal.owg.uk
P*ge2

LICHFIELD MUNICIPAL CHARITIES
ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024 (Co￿'T￿NIuED)
Achievement$ and Perform#nee
Following the refurbishment project, th¢ Almshouses ar¢ fully occupied.
Other charitable expenditure 1Suring the year totalled £l1.796. A detailed breakdown of this figure is given
in note 4 to th¢ ac¢ounts.
Financial Revlew
Ini'cstment Policy and Performance
The Charity derives its income from its portfolio of inv¢siments and a small holding of land. The
investment portfolio is managed by external fLmd managcrs on a discretionary basis lo achxeve a balanced
r¢ium froin income and capital gro￿th by accepting tt moderate level of risk. The investment portfolio
generated a total return of 7.950/0 net of fees over the cours¢ of the year.
This compares wilh a return of 13.13 /D for the RBC BrewEll Dolphin Category 6 Tndex and 8.23 % for the
ARC Steady Growth index over the same period.
The trnStees monitor the perforniknce of (he fund on a quarterly b8SiS.
Reseryes Poll¢)
Charity funds at 31 December 2024 totalled £3,110,409 and coinprised perman¢nl ¢ndowment £2,074,533,
traordinary repairs fund £112,763 and unrestricted reserves £923,113.
The truste¢s aim to maintsin Such reserves as arc ne¢ess2ry for the fuNr¢ r¢pair, improvement and
r¢furbishment of the Almshouses and to finance working capital requirements.
Public Benefit
The Truslecs confimi that they have referred to the guidance contained in the Charity Commission's
gene￿] guidance on public benefit when reviewing the Charity's aims and objectives and in planning
and setting their grant making policy for the y¢ar and have Complied with their duties under th¢
Charities Act 2011.
Trustees) Responsibilities in Reliitlon to the FiD¥ncial Ststement5
Law applicable to charities in England Wales requires the Trustees to pr¢pare financial statem¢nts for each
financial year which giv¢ a trlle and fair view of the Charity's financial aciivities during th¢ year and of its
financial position at the end of the year. In pr¢paring ihose financial statements, the Trugtees are required
to:
s¢lect suitable accounting policies and then apply them ¢onsist¢nily'
observe the rnethods and principles ill the Charities SORP;
ake judgements and estimates that ar¢ reasonable and prndent.
state whether applicable accounting gthndards have b¢￿ followed, subje¢t to any mai¢rial
departures disclosed 2nd explained in the financial statements.
and
prepare th¢ financial slatements on the going concern basis unless it is inappropriate to presume
that the Chariry will continue in business.
The Trnstees are responsible for keeping accounting r¢cords which disclose wilh reasonable accurdcy at
any time the financial positioT) of the Charity and ¢nable them to ensur¢ that the financial statements
comply with th¢ Charities Act 2011. They are also r¢sponsible for safeguarding the assels of the Charity
and hence for takit]g reasonable 5t¢ps for thc pr¢veniion and detection of hud and other irregularities.
Approved by th¢ Trnstees on 4 March 2025 and signed on their behalf by: W H¢nwood
Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
LICHFIELD MUNICIPAL CHARITIES
I report lo the charity Iruslees on my examinalion of the accounts of the charity for the year
ended 31 December 2024 which are set out on pages 5-9.
Responslbllltles and basis of report
As the ch8riWs Iruslees you are responsible for the preparation of the a¢¢ounls in accordance
with the requirements of the Charities Act 20111.lhe Act'l.
I report in respect of my examination of the chariws a¢¢ounts 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 14515}Ibl of the Act.
Independent examlner'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 Ihe charity as requlred by section 130 of the
Act., or
2. the accounts do not accord wth 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 {Accounls and Reports) Regulations 2008 other
than any requirement that the accounts give a 'true and fair view. which Is not a matter
consldered as part of an independent examination.
I have no concern$ and have come acr055 rio other matters in connection with the examination
lo which attention should be drawn in this report in order to enable a propel understanding of the
accounts lo be reached.
M Gurney FCCA, Dcha
of Dains Audit Ltd
Si John's Court
Willell Road
Lichfield
Slaffordshire
WS14 9DS
Date:
March 4, 2025
Page 4

LICHFIELD MUNICIPAL CHARITIES
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 DECEMBER 2024
Incom
Fund
Extraordinary Endowment
R¥pairs Fund
Fund
Total
2024
Total
2023
Note
Incomtr and endowments from:
Charitable a¢livllies
Maintenance ¢onlribulions receivable
62,246
62,246
52.857
Investments
Income Irom listed investments
Deposit interest and similar income
Rental income
53,792
679
365
4.958
58,750
679
365
53,329
2.312
365
Dorsalions and Legacies
Legacy- R S Owen
Roger Hinton's Charity
Other donatior¢
Total
85.918
200
195,881
117,082
4,958
122.040
Expgnditure on:
Almshous6 running costs
Oihet ¢h8rit8ble expenditur8
Investment management charges
InsuranTr etc re18nd at Damfor(J
Clerk's salary
Independent examinerfs féas
Sur¢dry expenses
Impaimienl review
Depraciation Solaf panels
Total
47.933
11.796
3,053
346
16.750
2.940
1,803
47,933
11,796
11,287
346
18,750
2,940
1.803
34.302
10.011
10.293
326
15.882
2,874
1,591
2.934
2,691
80,904
618
7,618
4.003
88,624
4.003
96,858
616
7,618
Gainsllknssesl on investments
10
14.705
2.683
95,350
107.372
69,109
Net Incomellexp¢ndityr81
43.163
1.659
87.732
132,554
184.086
Net movement In funds
,163
1,659
87,732
132,554
184.086
Re¢onclliation of funds..
Total funds brought forward
879.950
111,104
1,986,801 2,977,855 2.793.769
Total fund5 ¢arrled lorward
923,113
112,763
2.074,533 3.110,409 2,977,855
P896 5

LICHFIELD MUNICIPAL CHARITIES
BALANCE SHEET
31 DECEMBER 2024
Income
Fund
Extraordinary Endowment
Repalrs Fund
Fund
Total
2024
Total
2023
Note
Fixed Assots
Freehold Land and Buildings
Solar Panels
Investment Property
Listed Investments
284,565
33,342
680.000
964,565
964.565
33,342
24,220
7,500
7,500
7,500
111,995 1,395,480
2,060,087 1,958,639
111.995 2,082,980 3.065.494 2,954.924
10
552.612
870,519
Current Assets
Debtors
Balances al Bank:
Deposit
urrenl
Total current assets
11
7,424
493
7.917
6.350
44,771
8,691
60,886
44,771
2,628
55,316
18.081
11,233
35.664
432
925
6.495
16,4951
Llabilities
12
Credilors.. Amounts due within 1 year
Net Current Assets
8,292
52,594
157
768
1.952
18,4471
10,401
44,915
12,733
22,931
Net Assets
923,113
112,763 2,074,533
3.110,409 2,977.855
The funds of the charity:
Permanent endowment
Extraordinary repairs fund
UnTeslricled income funds
2,074,533 2,074,533 1,986.801
112,763
111.104
923,113
879,950
3.110,409 2,977,855
112,763
923.113
923,113
112,763 2,074,533
These financial Statements were approved by the Board of Trustee5 on 4 March 2025 and signed
on their behalf by:
W M Henwocrtg
C P Earnshaw
Page 6

LICHFIELD MUNICIPAL CHARITIES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accountlng Policio
Basis of AccoLtnling
The financi81 statements have been prepared in accordance with A¢¢ounting and Reporting
by Charilies.. Statèmgnt of Recommended Practice applicable lo charilios preparing their
a¢¢ounts in aC￿rd3￿ce with the Financial Reptsrtlng Standard applicable in tho UK and
Republi¢ of Ireland {FRS10218ffective 01101r2019, the Flnaneial Reporting Stsndard
applicable in the UK and Ireland IFRS102) and the Charities Act 2011.
The charity constilules a pybll¢ benefit entity 8$ defined by FRS 102.
The finan¢i81 statemen15 comply with FRS 102.
The financial stslemenls have been prepared under the historical cost convéntion with ilerns
recognised al c05t or transaction value unless otherwise stslod.
b Freehold Land and Build5ngs
Freehold Land and Buildings are included 81 their rainstatement value for insurance purposes
as at July 2004 with remodelling and refurbishment costs incurred since that date in¢luded at cost.
¢ Investment Property
Investmenl property has been valued by the Iruslees al open market value subj-ect to existing
use.
d Lisled Investmènts
Listed investments a￿ staled at market value.
Funds
The income fund ￿mpriSeS thosts funds which the trustees are free to use in accordance with the
charitable objects.
The permanent endowment represents those assets which must be held p8iman8nlly by the oharity.
Income arising on the endowment fund can be used in a¢cordance with the objects of the charity
and is Included as unrastricled income. Any ¢apilal gains or losses arising on the investments
fom part of that fund. Investment management charges relating to the fund are charged against
Ihat fund.
The extraordinary repairs fund is a de&gnatad reserve whlch rep￿sentS am¢unl$ Sel 8sid8 to carry
oul major repalrs on tho freehold buildings.
2 Incomo from Listed Invèstments
In 2023 in¢ome from listed iftvestments totslled £53,329 of which £49.055 rapres8nted unrestricted
income funds and £4,274 representad ihe exlraordinary repairs fund.
3 Almshouse Running Costs
2024
2023
Insurance
Garden Mainten8ne8
Water, Council Tax and Electric
Lifeline and Smoke Alarm Syst8m
Repairs and Renewals
Advertising
Sundry Expenses
1.704
5.342
4,822
373
34,201
400
1,091
47.933
1.672
7.625
7.569
680
14,317
2,439
34,302
Pag8 7

LICHFIELD MUNICIPAL CHARITIES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
4 Other Charitable Expenditure
2024
2023
Sl Giles Hospi¢e
English Language School
Grants lo 15 individuals {2023- 18)
2,500
1,260
8,036
11,796
10,011
10.011
S Investment management Charges
In 2023 the expenditure on investment management charges totslled £10.293 of which
£7,365 was from the endowment fund. £614 from the extraordinary repair fund and £2,314
from unrestricted income funds.
6 Trustees Remuneration and Expenses and Related Party Transactions
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 confftcled wth any of them.
An Annual Dinner was held for trustees at a cost of £659 {202&£495 }.
No expenses were paid to any trustee during the year.(2023- nil)
7 Freehold Land and Bulldlngs
2024
2023
12 Bungalows known as William Lunns Homes
At 1 January 2024 and 31 December 2024
964,565
964,565
8 Solar Panels
2024
2023
At cost 1 January 2024
AddEtions: Ballery storage
Disposal
Cost 31 December 2024
26,911
13.125
9,773
26,911
9,773
26.911
40,036
Depreciation at 1 January 2024
Depreciation charge for the year
Impairment
Disposal
Depreciation at 31 December 2024
2,691
4,003
6,839
2,691
2,934
9,773
2,691
6.694
Nel book value al 31 De¢ember 2024
33.342
24,220
The solar panels and associated batteries are being depreciated at Iook on a straight line
basis.
9 Invostment Property
2024
2023
Land al Darnford-Al 1 January 2024 and 31 December 2024
7.500
7,500
Page 8

LICHFIELD MUNICIPAL CHARITIES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
10 List8d Investments
2024
2023
Listed UK Investments
Investment Portfollo Cash
2,038,760
21,327
2.060,087
1,94D,480
18,159
1,958,639
In¢om9 Extraordinary Endowment
Fund
RepaSrs Fund
Fund
Totsl
2024
Total
2023
Investments held 8101.01.24
Additions at cost
Disposals at catrying value
Add nel gainlllossl on revaluatlon
Investments held at 31.12.24
532.825
132,688
1137,533)
14.705
542,685
101.842
21,827
{16,9991
2,683
103,987
1,305,813
221.421
{230.4961
95,350
1.392,088
1,940,480 1,719.705
375.936 454,158
{385.0281 (302,4921
107,372
69,109
2,038,760 1,940,480
All investments are quoted on the London Stock Exchange and are carried al their market value.
Asset sales and purchases are ￿CogniSed al the dale ol trade al cost Ithal 15 their transaction value).
RBC Brewin Dolphin Limited provide a discreuonary management service
11 Dgbtors
2024
2023
Maintsnanco ContribLFtsons Recelvable
Other Debtors and Prepayments
Investment Income
337
1,315
6.265
7,917
685
1.373
4,292
6,350
12 Creditors
2024
2023
Creditors and accrued expenses
Grants payable
9.141
1,260
10,401
12,733
Pemianent endowmenl
Exlr8ordinary repairs fund
Unrestricted Income funds
1,952
157
8,292
10,401
1,836
10,743
12,733
Page 9

LICHFIELD MUNICIPAL CHARITIES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
13 Analysis of Net Assets Between Funds
A¢cumulated Extraordinary Endowment
Income Fund
Repairs
Fund
Fund
Total
2023
Fixed Assets
Current Assets
Current Liabilities
Fsjnd Balance
848,982
41.711
10.743
879.950
110,826
432
154
111,104
1.995,116 2,954,924
{6,4791
35,664
11,836
12,7331
1.986.801 2,977,855
Page 10