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2022-12-31-accounts

LLOYD THOMAS HOMES

REGISTERED CHARITY NO: 257468

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

LLOYD THOMAS HOMES

INDEX
Page
Legal and Administrative Details 1
Trustees' Report 2 - 5
Independent Examiners’ Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9 - 15

Page 1

LLOYD THOMAS HOMES

LEGAL AND ADMINISTRATIVE DETAILS

Lloyd Thomas Homes is a registered charity, administered and managed by a body of trustees.

REGISTRATION NUMBER:

257468

THE TRUSTEES ARE:

Steve Smeeth (Chairperson) Maggie Gallon (Vice Chairperson) Janet Marsh (Treasurer) Les Harrison Peter Sanders

CLERK TO THE TRUSTEES AND BUSINESS MANAGER:

Lorraine Groom

PRINCIPAL OFFICE:

3a Lloyd Thomas Court Truro Road London N22 8EN

PROFESSIONAL ADVISORS:

Independent Examiner

Independent Examiner Greg Stevenson Knox Cropper LLP Chartered Accountants 65 Leadenhall Street London EC3A 2AD Bankers CAF Bank Limited Kings Hill West Malling Kent ME19 4TA Investment Managers Waverton Investment Management Ltd 21 St James’s Square London SW1Y 4HB

Page 2

LLOYD THOMAS HOMES

TRUSTEES' REPORT

The Trustees present their annual report and financial statements of the charity for the year ended 31st December 2022. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and 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 (FRS 102) effective January 2019.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Board of Trustees meet to determine strategy and policy, and is serviced by the Clerk to the Charity. The Clerk to the Charity oversees the day to day operations at the Almshouses. The Trustees also confirm that they have had regard for the Charity Commission guidance in respect of public benefit when reviewing the Charity’s aims and objectives and planning future activities.

The Trustees have identified the risks to which the charity might be exposed. These are reviewed annually and systems established to minimise risks. These risks include falling in value and yield on investments, void where properties cannot be re-let, the risk of fraud, and the poor condition of property assets.

OBJECTIVE AND ACTIVITIES

The policy of the charity remains to provide housing to people, principally women, of limited means who are able to lead independent lives, in some cases with help from local medical and social services.

The Charity’s aim is to maintain a modernisation programme to ensure compliance with the Decent Homes Standards.

• Introduction

During 2022 Lloyd Thomas Homes has, as its main activity, provided an almshouse service for needy people, giving preference in the majority of its accommodation to present or former residents of the former Metropolitan Borough of Shoreditch. The almshouses are located on a site off Truro Road, Wood Green in the London Borough of Haringey.

Page 3

LLOYD THOMAS HOMES

TRUSTEES' REPORT

OBJECTIVE AND ACTIVITIES (Continued)

• Organisation

The six single storey almshouses form part of a total of 32 almshouses which are located at Wood Green and maintained by The United Charities of St. Leonard Shoreditch. The Clerk to the Trustees attends the almshouses regularly and is responsible to the Trustees for the day to day running of the almshouses.

• Activities and Public Benefit

The Charity provides public benefit by providing accommodation to those who are unable to afford commercial rents. By being in close contact with these individuals the charity can ensure their health and wellbeing is protected.

The Trustees have complied with the duty in s.2 of the Charities Act 2011 in having due regard to public benefit guidance published by the Charity Commission.

These were to maintain warm, comfortable and safe homes for the residents and to gradually upgrade the almshouses as required. In the current year reactive maintenance has continued to keep the almshouses in good condition.

ACHIEVEMENT AND PERFORMANCE

The Almshouses undertake cyclical upgrades to the bungalows to ensure compliance with the Decent Homes Standards.

FINANCIAL REVIEW

• Reserves Policy

The Trustees budget to set aside reserves according to The Almshouse Association’s recommendations and also to build up Designated Reserves for future major modernisation projects. The Designated Reserves are held in certain investments and the CAF Gold account, and there is currently no plan to increase the investment portfolio due to the major works programme on the United Charities of St Leonard Shoreditch’s listed properties. On completion of which the aim will be to rebuild the reserves.

• Designated Funds

The Charity maintains two designated reserves – The Extraordinary Repairs Fund and Cyclical Maintenance and Repairs Fund, and transfers are reviewed annually in accordance with guidance from the Almshouse Association.

Page 4

LLOYD THOMAS HOMES

TRUSTEES' REPORT

FINANCIAL REVIEW (Continued)

The charity’s income, including that from investments, increased from £28,151 in 2021 to £29,504 in 2022. Expenditure increased from £12,705 to £13,211 with increased maintenance undertaken in the year.

The value of the charity’s investments decreased during the year from £113,225 to £101,091.

Total funds increased from £179,169 to £183,328 during the year as a result of increased income offset by losses on investments on the market value of investments.

PLANS FOR THE FUTURE

The Trustees intend to continue the repairs and maintenance programme and modernise the bungalows when necessary (although they remain in good condition at present).

A review of Weekly Maintenance Contributions in due in the forthcoming year.

The Trustees intend to review the Constitution including Trustee involvement.

The Charity is well funded and able to manage the impact of the Covid 19 pandemic on its activities. The Trustees have considered the likely future impact of the Charity’s income and expenditure. The Charity’s investment portfolio which is held for the long term objectives of the Charity has seen falls in the year under review.

Page 5

LLOYD THOMAS HOMES

TRUSTEES' REPORT

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

Charity law requires Trustees to prepare financial statements for each financial year which give a fair view of the state of affairs of Lloyd Thomas Homes and of the surplus or deficit of the Charity for that period. In preparing those financial statements, the Trustees are required to:

The Trustees are responsible for maintaining an adequate system of internal control and keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of Lloyd Thomas Homes and to enable them to ensure that the financial statements comply with The Charity Act 2011. They are also responsible for safeguarding the assets of The Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

BY ORDER OF THE BOARD Janet Marsh (Treasurer)

2023

Page 6

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF

LLOYD THOMAS HOMES

I report to the trustees on my examination of the accounts of the Lloyd Thomas Homes (the Charity) for the year ended 31st December 2022, which comprise the Statement of Financial Activities, the Balance Sheet and related notes.

This report is made to the Trustees, as a body, in accordance with the terms of my engagement. My work has been undertaken so that I might carry out an Independent Examination of the financial statements in accordance with the General Directions given by the Charity Commissioners. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity’s Trustees as a body for my work or for this report.

Responsibilities and basis of report

As the charity trustees of the Charity 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 2011 Act and in carrying out my examination I have followed all 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 applicable 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.

65 Leadenhall Street London EC3A 2AD

Greg Stevenson FCA Knox Cropper LLP Chartered Accountants

2023

LLOYD THOMAS HOMES

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2022

Notes
INCOME FROM
Donations, Legacies and Collections
Investments
Charitable Activities
2
TOTAL INCOME
EXPENDITURE ON
Charitable Activities
3
TOTAL EXPENDITURE
Net (Losses)/Gains on Investment Assets
7
NET INCOME/(EXPENDITURE)
Transfer between funds
NET MOVEMENT IN FUNDS
TOTAL FUNDS BROUGHT
FORWARD AT 1ST JANUARY 2022
TOTAL FUNDS CARRIED
FORWARD AT 31ST DECEMBER 2022
10		 Unrestricted Funds
2022
General
Funds
£
Designated
Funds
£
Total
£
-
3,296
26,208
_
-
-
-
_
-
3,296
26,208
_
29,504
_
-
_
29,504
_
13,211
_
-
_
13,211
_
13,211
_
-
_
13,211
_
(7,698)
(4,436)
(12,134)
_
_
_
8,595
(4,436)
4,159
(8,940)
_
8,940
_
-
_
(345)
4,504
4,159
76,199
_
102,970
_
179,169
_
£75,854
_
£107,474
_
£183,328
_		 Unrestricted Funds
2021
General
Funds
£
Designated
Funds
£
Total
£
-
3,143
25,008
_
-
-
-
_
-
3,143
25,008
_
28,151
_
-
_
28,151
_
12,705
_
-
_
12,705
_
12,705
_
-
_
12,705
_
5,095
2,936
8,031
_
_
_
20,541
2,936
23,477
(8,940)
_
8,940
_
-
_
11,601
11,876
23,477
64,598
_
91,094
_
155,692
_
£76,199
_
£102,970
_
£179,169
_
2022 2021
General
Funds
£
Designated
Funds
£
-
3,296
26,208
_
-
-
-
_
29,504
_
-
_
13,211
_
-
_
13,211
_
-
_
(7,698)
(4,436)
_
_
8,595
(4,436)
(8,940)
_
8,940
_
(345)
4,504
76,199
_
102,970
_
£75,854
_
£107,474
_		 General
Funds
£
Designated
Funds
£
-
3,143
25,008
_
-
-
-
_
28,151
_
-
_
12,705
_
-
_
12,705
_
-
_
5,095
2,936
_
_
20,541
2,936
(8,940)
_
8,940
_
11,601
11,876
64,598
_
91,094
_
£76,199
_
£102,970
_

All the activities reported above represent continuing operations.

Page 8

LLOYD THOMAS HOMES

BALANCE SHEET

AS AT 31 DECEMBER 2022

Notes
FIXED ASSETS
Housing Properties
6
Investments
7
CURRENT ASSETS
Debtors
8
Cash at Bank and in Hand
CREDITORS: Amounts falling
due within one year
9
NET CURRENT ASSETS
TOTAL NET ASSETS
FUNDS
Unrestricted
General
10
Designated
10		 2022
£
£
-
101,091
101,091
82,237
-
82,237
-
82,237
£183,328
75,854
107,474
£183,328		 2021
£
£
-
113,225
113,225
65,944
-
65,944
-
65,944
£179,169
76,199
102,970
£179,169		 2021
£
£
-
113,225
113,225
65,944
-
65,944
-
65,944
£179,169
76,199
102,970
£179,169
113,225
65,944
£179,169
76,199
102,970
£179,169

These financial statements were approved by the Board on 2023 and signed on its behalf by:

_______

Janet Marsh (Treasurer)

Registered Charity Number: 213357

Page 9

LLOYD THOMAS HOMES

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

1. PRINCIPAL ACCOUNTING POLICIES

The Financial Statements have been prepared in accordance with applicable United Kingdom Accounting Standards.

(a) Basis of Preparation and Assessment of going concern

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has been withdrawn.

The Trustees consider that there are no uncertainties about the Charity’s ability to continue as a going concern.

The Accounts of Lloyd Thomas Homes results are consolidated into the accounts of the United Charities of St. Leonard Shoreditch.

(b) Financial reporting standard 102 – reduced disclosure exemptions

The charity has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

(c) Housing Properties:

The Trustees have no record as to the cost of building the Almshouses.

As the cost of the Almshouses is unknown no depreciation can be calculated in these accounts.

(d) Fixed Asset Investments:

Fixed asset investments are stated in the Balance Sheet at market value at the Balance Sheet date.

Page 10

LLOYD THOMAS HOMES

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

1. PRINCIPAL ACCOUNTING POLICIES (Continued)

(f) Cyclical Repairs and Maintenance:

(g) Extraordinary Repairs:

The costs of extraordinary repairs, unless representing improvements to the properties, are charged to the Statement of Financial Activities in the year in which they are incurred.

(i) Extraordinary Repairs Reserve:

(j) Income

Resident contributions and investment income are accounted for in the period in which the charity is entitled to receipt.

(k) Resources Expended:

Expenditure is included on an accruals basis.

Support Costs are allocated on the basis of their use with the aim of ensuring that those costs remaining within administration relate to the management of the charity’s assets, organisational administration and compliance with constitutional and statutory requirements.

(l) Value Added Tax:

(m) Significant Management Judgements and Estimation Uncertainties

The following are the critical judgements and key sources of estimation uncertainty that the Trustees have made in the process of applying the charity’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements:

Page 11

LLOYD THOMAS HOMES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

1. PRINCIPAL ACCOUNTING POLICIES (continued)

(m) Significant Management Judgements and Estimation Uncertainties (continued)

Impairment of Debtors

Debtors are recognised initially at the settlement amount due. In respect of accounts where there are indications that a debtor may be impaired or not collectible, a provision is recorded based on best estimates to reduce the receivable balance to the amount that is expected to be collected. Factors considered in making a provision include the historical payment and collection experience and debtors’ credit worthiness.

2. INVESTMENTS

NVESTMENTS
Interest and Dividends 2022
£
3,296
£3,296		 2021
£
3,143
£3,143
3.
EXPENDITURE ON CHARITABLE ACTIVITIES
2022
Unrestricted Funds
General
Fund
Designated
Funds
2022
Total
Almshouse Expenditure
£
£
£
Water Rates
1,297
-
1,297
Council Tax
-
-
-
Repairs and Maintenance
5,057
-
5,057
Light and Heat
111
-
111
Insurance
725
-
725
Wages and National Insurance
4,364
-
4,364
Pensions
252
-
252
Sundry
(562)
-
(562)
11,244
-
11,244
Support Costs
Trustees expenses
76
-
76
Subscriptions
113
-
113
Telephone
130
-
130
Other Office Costs
15
-
15
Residents Welfare
133
-
133
Accountancy and Payroll Fee
1,500
-
1,500
1,967
-
1,967
CHARITABLE EXPENDITURE
£13,211
£-
£13,211		 3.
EXPENDITURE ON CHARITABLE ACTIVITIES
2022
Unrestricted Funds
General
Fund
Designated
Funds
2022
Total
Almshouse Expenditure
£
£
£
Water Rates
1,297
-
1,297
Council Tax
-
-
-
Repairs and Maintenance
5,057
-
5,057
Light and Heat
111
-
111
Insurance
725
-
725
Wages and National Insurance
4,364
-
4,364
Pensions
252
-
252
Sundry
(562)
-
(562)
11,244
-
11,244
Support Costs
Trustees expenses
76
-
76
Subscriptions
113
-
113
Telephone
130
-
130
Other Office Costs
15
-
15
Residents Welfare
133
-
133
Accountancy and Payroll Fee
1,500
-
1,500
1,967
-
1,967
CHARITABLE EXPENDITURE
£13,211
£-
£13,211		 3.
EXPENDITURE ON CHARITABLE ACTIVITIES
2022
Unrestricted Funds
General
Fund
Designated
Funds
2022
Total
Almshouse Expenditure
£
£
£
Water Rates
1,297
-
1,297
Council Tax
-
-
-
Repairs and Maintenance
5,057
-
5,057
Light and Heat
111
-
111
Insurance
725
-
725
Wages and National Insurance
4,364
-
4,364
Pensions
252
-
252
Sundry
(562)
-
(562)
11,244
-
11,244
Support Costs
Trustees expenses
76
-
76
Subscriptions
113
-
113
Telephone
130
-
130
Other Office Costs
15
-
15
Residents Welfare
133
-
133
Accountancy and Payroll Fee
1,500
-
1,500
1,967
-
1,967
CHARITABLE EXPENDITURE
£13,211
£-
£13,211		 3.
EXPENDITURE ON CHARITABLE ACTIVITIES
2022
Unrestricted Funds
General
Fund
Designated
Funds
2022
Total
Almshouse Expenditure
£
£
£
Water Rates
1,297
-
1,297
Council Tax
-
-
-
Repairs and Maintenance
5,057
-
5,057
Light and Heat
111
-
111
Insurance
725
-
725
Wages and National Insurance
4,364
-
4,364
Pensions
252
-
252
Sundry
(562)
-
(562)
11,244
-
11,244
Support Costs
Trustees expenses
76
-
76
Subscriptions
113
-
113
Telephone
130
-
130
Other Office Costs
15
-
15
Residents Welfare
133
-
133
Accountancy and Payroll Fee
1,500
-
1,500
1,967
-
1,967
CHARITABLE EXPENDITURE
£13,211
£-
£13,211		 3.
EXPENDITURE ON CHARITABLE ACTIVITIES
2022
Unrestricted Funds
General
Fund
Designated
Funds
2022
Total
Almshouse Expenditure
£
£
£
Water Rates
1,297
-
1,297
Council Tax
-
-
-
Repairs and Maintenance
5,057
-
5,057
Light and Heat
111
-
111
Insurance
725
-
725
Wages and National Insurance
4,364
-
4,364
Pensions
252
-
252
Sundry
(562)
-
(562)
11,244
-
11,244
Support Costs
Trustees expenses
76
-
76
Subscriptions
113
-
113
Telephone
130
-
130
Other Office Costs
15
-
15
Residents Welfare
133
-
133
Accountancy and Payroll Fee
1,500
-
1,500
1,967
-
1,967
CHARITABLE EXPENDITURE
£13,211
£-
£13,211
General
Fund
£
1,297
-
5,057
111
725
4,364
252
(562)
11,244
76
113
130
15
133
1,500
1,967
£13,211		 Designated
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
£-
11,244
76
113
130
15
133
1,500
1,967
£13,211

Page 12

LLOYD THOMAS HOMES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

3.
EXPENDITURE ON CHARITABLE ACTIVITIES (continued)
2021
Unrestricted Funds
General
Fund
Designated
Funds
2021
Total
Almshouse Expenditure
£
£
£
Water Rates
979
-
979
Council Tax
-
-
-
Repairs and Maintenance
3,608
-
3,608
Light and Heat
118
-
118
Insurance
683
-
683
Wages and National Insurance
4,877
-
4,877
Pensions
-
-
-
Sundry
207
-
207
10,472
-
10,472
Support Costs
Trustees expenses
79
-
79
Subscriptions
65
-
65
Telephone
98
-
98
Other Office Costs
94
-
94
Residents Welfare
268
-
268
Accountancy and Payroll Fee
1,416
-
1,416
Other Professional Fees
213
213
2,233
-
2,233
CHARITABLE EXPENDITURE
£12,705
£-
£12,705		 3.
EXPENDITURE ON CHARITABLE ACTIVITIES (continued)
2021
Unrestricted Funds
General
Fund
Designated
Funds
2021
Total
Almshouse Expenditure
£
£
£
Water Rates
979
-
979
Council Tax
-
-
-
Repairs and Maintenance
3,608
-
3,608
Light and Heat
118
-
118
Insurance
683
-
683
Wages and National Insurance
4,877
-
4,877
Pensions
-
-
-
Sundry
207
-
207
10,472
-
10,472
Support Costs
Trustees expenses
79
-
79
Subscriptions
65
-
65
Telephone
98
-
98
Other Office Costs
94
-
94
Residents Welfare
268
-
268
Accountancy and Payroll Fee
1,416
-
1,416
Other Professional Fees
213
213
2,233
-
2,233
CHARITABLE EXPENDITURE
£12,705
£-
£12,705		 3.
EXPENDITURE ON CHARITABLE ACTIVITIES (continued)
2021
Unrestricted Funds
General
Fund
Designated
Funds
2021
Total
Almshouse Expenditure
£
£
£
Water Rates
979
-
979
Council Tax
-
-
-
Repairs and Maintenance
3,608
-
3,608
Light and Heat
118
-
118
Insurance
683
-
683
Wages and National Insurance
4,877
-
4,877
Pensions
-
-
-
Sundry
207
-
207
10,472
-
10,472
Support Costs
Trustees expenses
79
-
79
Subscriptions
65
-
65
Telephone
98
-
98
Other Office Costs
94
-
94
Residents Welfare
268
-
268
Accountancy and Payroll Fee
1,416
-
1,416
Other Professional Fees
213
213
2,233
-
2,233
CHARITABLE EXPENDITURE
£12,705
£-
£12,705		 3.
EXPENDITURE ON CHARITABLE ACTIVITIES (continued)
2021
Unrestricted Funds
General
Fund
Designated
Funds
2021
Total
Almshouse Expenditure
£
£
£
Water Rates
979
-
979
Council Tax
-
-
-
Repairs and Maintenance
3,608
-
3,608
Light and Heat
118
-
118
Insurance
683
-
683
Wages and National Insurance
4,877
-
4,877
Pensions
-
-
-
Sundry
207
-
207
10,472
-
10,472
Support Costs
Trustees expenses
79
-
79
Subscriptions
65
-
65
Telephone
98
-
98
Other Office Costs
94
-
94
Residents Welfare
268
-
268
Accountancy and Payroll Fee
1,416
-
1,416
Other Professional Fees
213
213
2,233
-
2,233
CHARITABLE EXPENDITURE
£12,705
£-
£12,705		 3.
EXPENDITURE ON CHARITABLE ACTIVITIES (continued)
2021
Unrestricted Funds
General
Fund
Designated
Funds
2021
Total
Almshouse Expenditure
£
£
£
Water Rates
979
-
979
Council Tax
-
-
-
Repairs and Maintenance
3,608
-
3,608
Light and Heat
118
-
118
Insurance
683
-
683
Wages and National Insurance
4,877
-
4,877
Pensions
-
-
-
Sundry
207
-
207
10,472
-
10,472
Support Costs
Trustees expenses
79
-
79
Subscriptions
65
-
65
Telephone
98
-
98
Other Office Costs
94
-
94
Residents Welfare
268
-
268
Accountancy and Payroll Fee
1,416
-
1,416
Other Professional Fees
213
213
2,233
-
2,233
CHARITABLE EXPENDITURE
£12,705
£-
£12,705
General
Fund
£
979
-
3,608
118
683
4,877
-
207
10,472
79
65
98
94
268
1,416
213
2,233
£12,705		 Designated
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
£-
10,472
79
65
98
94
268
1,416
213
2,233
£12,705

4. NET INCOME

FOR THE YEAR IS STATED AFTER CHARGING

Independent Examiner’s Fee
- Current Year		 2022
£
1,500
£1,500		 2021
£
1,416
£1,416

5. TAXATION

The United Charities of St. Leonard Shoreditch is a registered Charity and is, therefore, exempt from liability to taxation on non-trading income and capital gains providing these are applied to charitable purposes.

6. FIXED ASSETS HOUSING PROPERTIES

The Almshouses were founded in the 16th Century, and have been constructed by Charity, since that date.

There are no records of the cost of the Almshouses, and these have never been valued. All costs relating to improvements have been written off over the years.

As such the balance sheet does not include the value of properties, and hence no depreciation is charged in these accounts.

Page 13

LLOYD THOMAS HOMES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

7. FIXED ASSETS

INVESTMENTS
General
Fund
£
Market value at 1st January 2022
71,833
Additions
-
Disposals
-
Realised gains
-
Unrealised (losses)/gains
(7,698)
Market value at 31st December 2022
£64,135
Historical Cost of Investments
£63,397
DEBTORS
Amounts falling due within one year:
Due from United Charity of St. Leonard, Shoreditch
CREDITORS:Amounts falling due within one year
Residents contributions in advance
Other Creditors and Accruals
 Designated
Funds
£
41,392
-
-
-
(4,436)
£36,956
£36,531
2022
£
82,237
£82,237
£
-
-
£ -		 Designated
Funds
£
41,392
-
-
-
(4,436)
£36,956
£36,531
2022
£
82,237
£82,237
£
-
-
£ -		 2022
Total
2021
Total
£
£
113,225
105,194
-
-
-
-
-
-
(12,134)
8,031
£101,091
£113,225
£99,928
£99,928
2021
£
65,944
£65,944
£
-
-
£ -		 2021
Total
£
105,194
-
-
-
8,031
£113,225
£99,928
£82,237
£
-
-
£ -

8. DEBTORS

  1. CREDITORS: Amounts falling due within one year

10. UNRESTRICTED FUNDS

Balance Brought forward
1st January 2022		 Designated Funds
Cyclical
Repairs &
Maintenance
Reserve
Extraordinary
Repairs
Reserve
Sub Total
£
£
£
45,461
57,509
102,970		 Designated Funds
Cyclical
Repairs &
Maintenance
Reserve
Extraordinary
Repairs
Reserve
Sub Total
£
£
£
45,461
57,509
102,970		 Designated Funds
Cyclical
Repairs &
Maintenance
Reserve
Extraordinary
Repairs
Reserve
Sub Total
£
£
£
45,461
57,509
102,970		 General
Fund
£
76,199		 Total
£
179,169

Cyclical
Repairs &
Maintenance
Reserve
£
45,461
Extraordinary
Repairs
Reserve
£
57,509
Net Income/Expenditure
Gains on Investments		 -
-		 -
(4,436)		 -
(4,436)		 16,293
(7,698)		 16,293
(12,134)
Transfers
Balance carried forward
31st December 2022		 -
5,652
£51,113		 (4,436)
3,288
£56,361		 (4,436)
8,940
£107,474		 8,595
(8,940)
£75,854		 4,159
-
£183,328

Page 14

LLOYD THOMAS HOMES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

10. UNRESTRICTED FUNDS (continued)

Balance Brought forward
1st January 2021		 Designated Funds
Cyclical
Repairs &
Maintenance
Reserve
Extraordinary
Repairs
Reserve
Sub Total
£
£
£
39,809
51,285
91,094		 Designated Funds
Cyclical
Repairs &
Maintenance
Reserve
Extraordinary
Repairs
Reserve
Sub Total
£
£
£
39,809
51,285
91,094		 Designated Funds
Cyclical
Repairs &
Maintenance
Reserve
Extraordinary
Repairs
Reserve
Sub Total
£
£
£
39,809
51,285
91,094		 Designated Funds
Cyclical
Repairs &
Maintenance
Reserve
Extraordinary
Repairs
Reserve
Sub Total
£
£
£
39,809
51,285
91,094		 Designated Funds
Cyclical
Repairs &
Maintenance
Reserve
Extraordinary
Repairs
Reserve
Sub Total
£
£
£
39,809
51,285
91,094		 General
Fund
£
64,598		 Total
£
155,692
15,446
8,031
23,477
-
£179,169
Total
£
107,474
75,854

Cyclical
Repairs &
Maintenance
Reserve
£
39,809
Extraordinary
Repairs
Reserve
£
51,285
Net Income/Expenditure
Gains on Investments		 -
-		 -
2,936		 -
2,936		 15,446
5,095		 15,446
8,031
Transfers
-
5,652
Balance carried forward
31st December 2021
£45,461
ANALYSIS OF NET ASSETS
BETWEEN FUNDS
31/12/2022
Designated Fund
General Fund
Total Unrestricted Funds
31/12/2021
Designated Fund
General Fund
Total Unrestricted Funds		 -
5,652		 2,936
3,288
£57,509
Investments
£
36,956
64,135
£101,091
Investments
£
41,392
71,833
£113,225		 2,936
3,288		 2,936
8,940
£102,970
Current
Assets
£
70,518
11,719
£82,237
Current
Assets
£
61,578
4,366
£65,944		 20,541
(8,940)
£76,199
Current
Liabilities
£
-
-
£ -
Current
Liabilities
£
-
-
£ -
£45,461 £57,509
£183,328
Total
£
102,970
76,199
£179,169

11. ANALYSIS OF NET ASSETS BETWEEN FUNDS

12. CAPITAL COMMITMENTS

APITAL COMMITMENTS
2022 2021
£ £
Capital Expenditure that had been contracted
for but not been provided for in the Financial
Statements at 31st December 2022 £- £-

13. CONTINGENT LIABILITIES

At 31st December 2022 there were no known contingent liabilities (2021: £Nil).

Page 15

LLOYD THOMAS HOMES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

14. KEY MANAGEMENT PERSONNEL

The Key Management Personnel of the Charity consist of the Clerk and the Trustees, who are renumerated by the United Charities of St Leonard Shoreditch, and a portion of these costs are charged to Lloyd Thomas Homes.

15. RELATED PARTY TRANSACTIONS

Lorraine Groom, Clerk to the Trustees is the daughter of Janet Marsh who was a Trustee of the Charity in the year. The Charity was allocated £4,616 in respect of wages, national insurance and pension during the year (2021: £4,877).