UCHFIELD MUNICIPAL CHARITIES R•gl8tered Charlty Numb•r. 264299 FINANCIAL STATEMENTS YEAR ENDED 31 DECEM8ER 2025 Dalns Audh Ltd Ch4rt•red A¢¢ountants 2 Chambèrlain Square Paradls¢ Clrcu• Bimlngham
LICHFIELD MUNICIPAL CHARITIES INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 DECEMBER 2025 PAGE 1-3 Annual Independent Examine Report statement of Finar•1 ActNitk?S Balon Sheet Notos to tne Accoun1$
UCHFIELD MUNICIPAL cHARlEs ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 R•f•r•n¢• and #dmlnlstr¥tlv• InfDrnutiI)n The Chanty trustees serveo ourtrrfj ts yeai tt14wnting bodwore.. C P Eam$h8W K R Lom8S H Ashton C 9all JHFOX W M Hen E Ne%Uld C. Piiidei-smith E L KavAing T J Roach J Russdl 8 $¢halor N G SedgNM C R Stok•s D J Sullivan Vic• chairman efiheio cry thfield Cty CtyJnLxI Llfip.Id r.ity Ctroptstsve Ctroptalive ExffiO CtroptobY¢ C(wtsli¥e Ctsopt•tyv• Ex-offic40 Cwplalive Ctroplabva awynted 14 May 2025 aFK¥li1 4 202 èyred 14 May X12S apwM804 Mwcn 2025 Prfnclp•l AddrnB•'. .$ R.IHm*s c[ Lthfi•kl MurpaI Charili•s Bank HtyJse Farni Yoyall .8iaffs L)E13 8NR W•b•lt•'. R8gllterod Charlty No: 254299 CAF Bank Lttl 25 King$ Hills Aven Kirys Hill Wesl Malling MEl9c Prlnclpg18•Dk•r•: Ind•pend•nt Examln•r: M Gumey F¢CA DChA Of Dains Auott Lt¢J Chartered AcccMJntwits ? C.litiiTiitslain Soujre Paradise Circus Bimiingh8m B3 34X Inv••trnwitAdviw•.' RBC Brèthn Ddptiiii 6th fioor, Tho ChOn Bulldlng 81. Cdmore 8imiinghAm 83 28A Page 1
LICHFIELD MUNICIPAL CHARlEs AIYIYUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 (CoTINUED) Report of th¢ Trustees for tbe yujr 31 Dtcemb¢T 21125 The mi8tPe4 PTr£nt the tewrt along with the linancial ststements of the Charity f(Ir the year ended 31 Dc¢¢mE¢r 2025. 1.he fmancial staments have becn in a¢dance with the accounting policies sd out on pgge 7 Comply with the Charity Commission ScIne. the Charities Act 2011 Accowiting and Rcporting by Lhanties.. Ststemeni of RecommendLYI Pili(¢ appliuble to chariti¢S pr¢parll their accoun In accordanL¥ widj ai¢ Finala] Rcporting Sthndord applicable in the UK gnd RepllbliL Vfhrlld cff¢¢tiv¢ l January 2019. Strn¢ture, fynvprnathce Mllag¢me•t Ilistory. Obj¢¢tives And AetiYili¢s for ihe Publk Benefft Lichfi¢ld Municipal c.harities was established in 1654 &nd is now r¢gulated by a Charity ComTni%yion Schemc which was 3¢aled on 24 September 1982. The Ch8rlry 15 an unitJLx>iyuiated asslatio1). Thc Charity do¢s not a¢tively fundraise and seeks to continue its philartthropic work through the care1 stewardthip of its existin8 rtsourc¢s. Following ihe rem1]l[l& projxi. which was completed durth8 2022, Licbfield MwiicipAI C.hyritie5 n¢)w QJi)Pli3¢s hv¢lv¢ Almthous¢s known as Williwn Lunn Homp4, wliich aT¢ Situated in Li¢hfi¢ld. All are suit4ble for Couples. The Alm%hiTrw%o ar¢ availablc for o¢curAtion by poor inhabit4Dts of the c.ity of After payin¥ the ¢osts of mointaining the prop¢ty and expenses irtcldenial To the a(kniiiistsoliuJi of th¢ Charity. any surplus Is available for the rellef of Tre1. ¢itti¢J ¥¢iKially or individually ol. pèrso re6id¢nt in the srea of ihe formeT Ciiy vfLi¥lificld as ¢onJtitui¢d on 31 Mw¢h 1974. MAngement •nd Govern*nee Fiillvwiiig an amendm¢nt durin& 2013, th¢ Scheme provides for rhe Arv)inimriii of 14 tn]stec3. 1 ¢x- ofticio, 3 nomitiative and 10 CLp1111¥e. The ¢XvOtrJcio trusie¢ is th¢ Mayor ol'the Lity of Lichfjeld. The three nominati¥¥ ¢nLSttts are appointed by Lichlield Lity LowKil. Nomlnailve TrnSTe&% b¢TW¢ fui a y¢J'iod of four vcars. Lo-optalive ttN$tees setv¢ for 4 period iyffive years. New ¢o-OPthtive tnJstee5 Are identified from people within the Ial Community who have the skills and inieresi anil Ore pIllIla by th¢ remaining tnJgtce$. The iiidu¥liuJi pioc¢Js for any n¢wty Oppoint comprises in iniiixl rneetin8 with the board of tru$t¢¢5 Ot whi¢h an inforn)ation pack is pmvi¢ltxI. 171is in¢lud¢s a copy of the ioveming document, a copy of the mngt re.Leiil annual rcport and accounts, copy mwutes of previous rrustees. meelin¥5 aiid a copy of the Churity Commission Guidan¢e'Th¢ E$sential TTuslee' and 'Charities and Publi¢ Benefit,. Th¢ trusie¢s normally meet four times * year to ¢onsider the C.harily's affairs and as and when appropriate the broad strategy 2nd area of aLlivily fvi Charity, including wngideratiOD of 8rwt mHkin8. Inv1111r1l1J. itsrrw¢s and rijk mon4gement policie6 4nd perfonnance The chArfty hxN fiJriii¢d a Ptop¢rtY Sub Committee ¢ompnsin8 BLY trustees, etectd 3mn1lIy. and d¢l¢gated to it, within certain financial paramet¢TS, authority tlj LxJmmi55ion and overs¢e rcfiubishmenL r¢placemeni and renov81Lon work5 at William LS Ilom¢s. The day io day adminislrali ijf the Chtitity is dekgated to the Clerk. Risk Review The in]%teES hdvr rAlillia the rnijor tnt¢rnul ond eKt¢mil risks which the Charity ld confirni that JyJtGm3 hav¢ been v¢Ablished to minimise these Grant m¥killz policy •nd pro¢ed•res The Charity is w'ell known in the City and invites appli¢Ations from diVIdUalS artd organisaTlons. EaLh dpplicatlOTI l5 consid¢rtd on its 0¥ m¢rits. Grant application fornjs are avallable Uir Cluk whose addrw 13 3hoMm on page l or from the website. www.lic unici
LICHFIELD MUNICIPAL CHARITILtr ANPIUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED) Achievemtttts and PerforniDce During the year exterior groundworks and l&)dscaping have taken plx¢ to improve the resid¢nts' gardens and paths. The work has t¢en funded partty from occn]ed income a1 pwLly from a bequesL for which th¢ charity wL% grat¢ful. from th¢ I£ Robert (h¥en. Other eharilHhle. .nditute during the yew totalled £19.849. A detsiled bre•k¢k>wn of this figure 15 8iven not¢ 4 10 the a¢¢ounts. FlnD¢ig1 Revlew Inv¢strneDt Pvll¢y nd P¢rfornin¢¢ The Charity dtrives its income from its TM>rtft)lio of investments and a small holding Of land. The inv&qtsnent portfolio is managed by exnMI fiujd managers on a discretionary basis h]eve a balanced reNm from tncom¢ and capital groth by acttoing a moderate level of risk. The inv¢stment portfolio 8erterai¢d a total return of I1.08Yo net of f¢¢5 over the wurse of th¢ year. This Compares with a return of 14.31% for the RBC Brewin Dolphin Cat¢Bory 6 tnd¢x and 9.3 Ib/o for the ARC Sieady Grothth index ov¢r the 5am¢ period. The ¢rustees rntsnitor the t¢rforn)ance ofthe futKI th a quttrty b95iS. Re#rv¢s Polley Chariry funds ai 31 t)ecember 2025 tothlled £3.102,540 and comprised pernanent endowment £2,180,511, extraordmary repatrs t]d £141.028 aii¢J wuli1£d r¢Jerv¢s £781.001. Til¢ tsust¢¢3 aim to mttinlain Juch r¢s•rves $ Theeessary fnr ihe. fithjre 1r. tmprovem¢Dt and refurbishment of the Almshouses fman¢e workin8 C8Pital requirements. Publle Benefit The Trustees confirni th¥41 they have referred to the guidance contained in the Clwiry Commission's general guidance on public benefii when revi¢win8 the Charity's aim5 And objectives and in plAnnin8 iu)d 5eiiing their grant makin8 policy for the year and have complied with their dulles under the Charities Act 2011. Trustet$' R¢$pon51bllltie5 In Rtl4tlon to tbe FiDnell Stttme•ts Law applicable to ¢hariiies in England Wales requlTes the I ru51ees io pr¢p¥re tlnanLi#l s111¢1 fur ¢ath fmanci31 year whi¢h give J true and fatr vlew of th¢ Cliwiiy'J fLfJAn¢ial 4ctiviti¢J durin8 th¢ y¢ur tsttd of its yvsilivii a¢ th¢ ¢nd of th¢ ycw. In prtporing those fina11 st#temenls. the. Tnjstees ire required select suitable acwunting policies and then apply them con$isl¢ntly• obs¢rve the methods and principles in the Chariii¢s SORP- make judgements and estimate5 that are reasonable and prudent. state whether applirable accouniin8 5tanil8rds hav¢ been follow¢4 subjert to gny material departur¢s disclosed and explained in the fin18] teMents. prepare the flnancial slatements OD the going ¢ortern iusis unless it is imppropriate to pr¢sume that the Charity will continue in blneSS. The TnL5tee5 ar¢ respon5ibl¢ for kecping accounting records which dis¢lose with wsonable oc£uracy at any time the finaneial position of the Charity and enable them to ensuT¢ that the rtn8ncial ststernents Comply with the Charities A¢t 2011. They are also resy)nsible for safeguarding lh¢ assets of the Charity and hence for taking reasonable step5 for the preven(ton aJbd detection of fraLKI and other irT¢&uiaritie5. Approved by the Trumees on 24 MaT¢h 2026 aTbd si8nd their bcho]f by.. C P E•rnshaw
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF UCHFIELD MUNICIPALCHARtTIES I report lo the ¢harty trustees on my eXaMinan of the coUnts of the charity for the y¢ar ended 31 December 2025 are set out on pages &9. R•sponslbllltlo¥ and basls of report As the charity's trustees you are responsib for the Preparnttr of the xcounts in ac£ordance wrth the requirements ol the Chants Act 2011 Acfl. I report Sn re$pect ol my examination of the chartls accounts Carn out undèr section 145 of the A¢t and in ¢affwng out my examinal)n I have follcNMd all th8 appIabl Dire¢tions gNen by the Charity Commi$sK under SeCtn 14515llbl of the Act. Ind•p•ndont •xamln•rf8 •t•t•rnent I have completed my examinatKJn. I w)firm Ihgl no malwi81 mBttws have my attontion in connection wrth the xamin8tion gmng me cau¥• to beli that in any material respect". 1. 8ccounling rocords not kept in ofthe dnty as required by 8ectw 130 of the Act". or 2. the xcounls do not wrtn th088 record8', or 3. the account$ do not ¢ompty with the ¥¢eounting rnquiremenls ConceMN tho fomi and content of accounts sel out in the Charit$ IA¢counls and Rep)rtsl Regulatn8 2008 othor than any requirement that the aOUnt5 give a Irug and f8ir vith¥' vknKh is nol 8 matter considered as part of an independent examination. I have no concems and have come xross no other m¥tterg in ¢onne(ion with th¢ oxamin¥lh?n lo which attèntion ¥houkY be drawn in this report in order lo anabL* a propèr understanding of the Account• to b• r•gch8(1 M Gurney FCCA, CClb4 of Dains Audit Ltd 2 Chamberlain Squar Paradise Clrcus Birmingham B3 3AX March 24. 2026 P•3è 4
UCHFIELD MUNICIPAL CHARITIES STATEMENT OF FINAJ4CIAL AcnwnES YEAR ENDED 31 DECEM8ER 2025 Inwn• Extrnordinary Endowment Total Fund Repairn Fund Fund 2025 Total 2024 InGome and •ndowments from.. Charitabl& artivitis Maintenance eontsibukjns rKvable 73,2eiJ 73,Z¢dl 62,246 Investm15 Income frorn listed investments Deposrt inler88t and similar incx)rne Rental in¢ome 49. 1.481 57.993 1.481 58,750 679 365 Other dCrntn Totsl 124.229 133.134 122,040 Éxp•ndlturn on.. Alrnshous¢ running ¢ost5 Other thtyntoblc oxponditur• Invft%tm8nl manaoernent ¢harqe$ lfisuranc etc re18nd 8t Damfd Cbrk's salary Independent examiners fwi Sundry exp8ns•6 Depre¢iallon- Solar p8rl$ Total 245.391 11) R49 2.397 245.391 19,849 11.455 47.933 11,796 11,287 1.214 17,411 17.411 3.094 1.878 4.003 303.465 18,750 2.940 1.803 4,003 08,858 1,878 4,Crf)3 294.407 1.214 Galnslllo&w51 on Investment$ io 28.Cfj6 20,574 113.822 162.462 N•t Incorn•ll•xpgndltur•l 1142,112} 28,265 105,978 17.8691 132,554 N•t movement In lun 1142,112) 28,205 105,078 17.869) 132,5S4 Recon¢lllatbon of fund8'. Total luThJs brougm forward fJ.113 112.783 2,074,$33 3,110.4oa 2.977,855 Total lund• ¢•th•d forw•nl 781.1 141,028 2 180,511 3.102.540 3,110.409 Pagg 5
LICHFIELD MUNICIPAL CHARITIES BALANCE SHEET 310ECEMBER 2025 Income Extraordinary Endowment Fund Repalrs Fund Fund Total 2025 Total 2024 Flxed Assets FreehOIO Land ana Bulldlng5 Pan*ls Inve$tment ProF4rty Ltsted Investments 680,000 ,565 29.339 33.342 7,5 7,500 7.500 144.704 1,501,820 2.079.609 2.C60,087 144.704 2,189,320 3,081,013 3,Cfj5,494 29.339 10 433.085 746.989 Current Assats Debtors Baknces al Bank.. Deposit Current Total current 488•ts 11 6,899 7,917 34,046 1,099 43,009 44,771 2,628 55,316 12,233 53.178 4,376 {3.4111 6,758 16,758) uabl11 12 Credrtor$.' Amounts due W1h1n 1 year N¥( ¢urr•nt A•••ts 19,186 34,012 265 (3.8761 2,051 18.8091 21,482 21.527 10.401 44,915 Net Assets 781,001 141,028 2,180.511 3,102.540 Th• funds ol th• charlty: Permanent endrywmènt EAlr8ordinary r•pairs fund Unre51ricted incomg funds 2.180.$11 2.180,511 2,074,533 141.028 112,763 781.001 923.113 141,028 2.180,S11 3,102.540 3,110,409 141,028 781,001 I hèse Ilnancwi $teMeNt¥ wrtrp approved by th¢ 8¢ard d Tru8t•gB on 24 MAreh 2026 and 8iontvA on their b•haff by.. C P Eamshaw K R Ltynag Page 6
UCHFIELD MUNICIPAL CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 23 1 Accoung Poll¢l Basis ol AccounrKJ The finanaal ststements have been prepargy in accordarteTiti AccwntirJ and Rwhng by Charibes Ststemgnt of Recommended pra{ aFPlNe to dnte5 preparing thwr acthun¢e in accordancè tht FinArrial Rerb[Vj Stsndard aQtyicab In the UK RepUle ol Ireland IFRS1021 offecthve 01101r2019. the Finanaal Rep)rbrrfJ S¢8ndard splicabk in the UK and IrdaThJ (FRs12) and thè Chanb¢S Aa 2011. The thonty coN6trtuts8 a tenefft entty as d8fin&J ty FRS 102. InarKsal $tatemwrt$ C4)M wlh FRS 102. finand81 ¥tatement$ ha bew y•par8d undw the hist( ojst cuw¢nts"on ith items r4eognised at cost or transa¢av) value urA•ss 6tatéd. b Fwhold Land and Buil¢YITrJs Fffjehold Land and BuildiThJs are irWudod at ts'r r•nslattmwrt inwrarte purp)ses •s at July 20J4 %%ith remcJelling refuthshment o)sts Iwwj wnc? that dale Irudl at Cost. c Invesrnern Pruwly Investrn•nt prop•ty h8$ valijthj by ts tnotees at cw markot vrJ to exi5b.ng u$•. d Invesimenis listed investments ar• $t•ted at m8rkel • Funds The Income fvnd comprlw thow the tru#•e8 freo to irt xwdanc• th8 ¢hanl8blg obJ'ed$ Th$ permanènt endownert repr•8ents ttth• 8S8et8 must te W permanontty by th• Cty. In¢cYne arising on me enoomeni fund Ldli LK uaed in •wdon¢¢ Iho objèct6 gf thanty rid is Indu4od as unrestn¢t ineemo Any captsl gain$ yS1n0 on the investrnents fom p•rt nf IhAt luThJ. Investsnent manwent charges rdaling to the 1nd are charged again$t that fvnd. The exlracydinary paIrS fund is a de$9nai•d r•wN• v*fvch rtyosenb #Mnts Set asth to C4rry out major rtpairs on th• freehdd bkJiJs 2 Incom• from Ll•tgd Imie•tsn•r)ts In 2024 Incfjme fr listed Investments totslled £58.750 £53.792 rewosentgj unresth¢tsd income funds and £4.958 presented the extraordthary plS lund 3 Alm8hou•e RunnlrwJ cts 2026 2024 Insurance Garcjen maIrn1o Cxtenor groun(rkE landscapi Water. CcNJnol Tax and Elethc Lifeline and Smoke ALgmi System Repair5 and Renewds Atherkn51ng maintenan of sdar pands Sundry Expenses 1,759 5.231 201.754 3.102 1,704 6.342 373 34.201 27. 2.138 1.091 47.933 245.391 Pag• 7
LicpfFIELD MUNICIPAL CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 4 Other Charitsble Expondlture 2025 2024 st Hospti Curborough Communty Aswi4tn n.ln Fnolish Lanouage Schwl {Wren back in 2025) Grants to 27 Indluals<2o24- 151 {1.2601 15.609 19,849 8,036 11.798 5 Inv•stment managem•nt charg•s In 2024 the expenditure on InstMent management Charges Idalkryd £11.287 01whh £7.618 was from the endowment fund, £616 frthn the extr•ydinary repair fund and £3.053 frorn unreslrided incomg funds. 6 Trust$ R•mun•ratlon and Exp•nw and R•lat8d Pany TranBaGtSons No rgmuneration directty or indireGtty out ol thtr funds of the Charty was paid or payabkn f the yearlo any tru¥l•e or to any person or person$ kn(wm to bè conrne¢tod wth any of them. An Annual Dirtn•r wa5 héw for trustè8s al 8 ¢OSt 01 £79512024&591. Nn ftxpanses wer¥ paMI lo anytrustee during the year.12024- nil} 7 Frmhold Land and 8ulldlng• 2025 2024 12 8ungalow$ known a$ William Lunn$ Homos Al 1 January 2025 and 31 Deber 2025 964,565 W.565 8 Sol•r Panel• 2026 2024 At cost 1 Jgnijxry 2025 Addrtions.. Battery storage Cost 31 December 2025 40,036 26,911 13.125 40.036 40,036 Oeproc5ation at 1 January 2025 Depreciation ch8rg• for the yoar O¢pr•ciation at 31 Decem[ 2025 6.694 4,C¥)3 10,697 2,691 4,003 6,694 Net bwk value at 31 December 2025 29,339 33,342 The solar panels ond asscKiated batteries are beiThJ depre¢iat&J a110% on a $lratght line basis. g Inv•*tm•nt Prnrty 2025 2024 Land at Damford-Al 1 January 2025 and 31 Decemt•r 2025 7.500 P49e 8
LICHFIELD MUNICIPAL CHARMES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 10 List•d InvlmOnts 2025 2024 siea UK Invesiments Investmtsnt Portfolio Coch 2,03rf,916 44.693 2.079.609 2.038.780 2.060,087 In¢¢Th Extraordlnory Endowm•Tht Fund R•p•lr4 Fund Fund Tt)tsl 2026 Totsl 2024 Invg$tments held at 01.01.25 Additions 8t cost Disposals at carryiThJ value Add nel gainlllossl on rwaluabon Investments hold at 31.12.25 542.685 77,256 1222.7281 28.Cfj6 425,279 103.987 101.354 184,1711 20.574 147.744 1.392.088 153.393 1197.4101 113.822 1.467.893 2,038,760 1,940,480 332,003 375,936 1498,3091 1385.0281 162,462 107.372 2.034,916 2.038,760 All investrnenls are quoted on the London sirk Exchangè and ar¢ carried at their market value. Asset s818s and purehases arè recogni$ed at the date of trad8 al cost (that is Iheir transacti valiAI. RBC Brewin tklphin Mrted prowd& o discrÈts)nary man•3omern Semc 11 D•btorn 2026 2024 Malnltnance Conthbutions Recthvabl• Other Debtors and Prepayrnenls Inve$tm•nt Incomé 1,391 1,375 337 1,315 7,864 7.917 12 Cr•dltor¥ 2025 2024 Creditors and acwed eXn Grants payabl8 21.482 9,141 1,260 10,401 21,482 P•mianent tndwment Exlraordsnary repaits f¢Jnd Unrestricted income funds 2,051 26S 19.186 21,482 1.952 157 8.292 10.401 Pggp. FJ
LICHFIELD MUNICIPAL CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 13 Anatysls of Not Assets BetW8on Funds A¢cumulat•d Extraordinary Endowm•nt Inci>m¢ Fund Repalrs Fund Fund Total 2024 Flxea A$sS urrent Ag3ets Current Liabilrties Fund Balance 870,519 111,995 925 157 112,763 2,082.980 1 C65.494 16.4951 55,316 1,952 10.401 2,074,533 3.110,409 8.292 23.113 14 Futur• Commltm•nt At 31 December 2025, there was a cLynmitm8nl for LindPing totalling £12.198. This 18 to be fingnced tr the irKcwne fvrKI. Page 10