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**Company No: 1174289 Registered Charity No: 267999**
**LAMPORT HALL PRESERVATION TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE) AND ITS SUBSIDIARY UNDERTAKINGS**
**FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
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## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
## **Financial statements for the year ended 31 March 2022**
|**Contents**|**Page**|
|---|---|
|Legal and administrative information|1|
|Report of the trustees|3 - 10|
|Independent auditor’s report to the members|11 - 14|
|Consolidated statement of financial activities for the year ended|15 - 16|
|31 March 2022||
|Consolidated statement of financial activities for the year ended|17 - 18|
|31 March 2021||
|Consolidated balance sheet|19|
|Charitable company balance sheet|20|
|Consolidated statement of cash flows|21|
|Notes to the financial statements|22 - 37|
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## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
## **Reference and Administrative Details of the Charity, its Trustees and Advisors**
|Directors and Trustees:|R L V Isham (Chairman)|
|---|---|
||W R Butterfield, DL|
||Lady Robinson, BA|
||C D J Holborow, DL|
||R W Newman|
||C L Brudenell|
||J T G Harris|
||P A Fenton|
|Executive Director and Secretary:|M Herrod|
|Registered office:|Lamport Hall|
||Lamport|
||Northampton|
||NN6 9HD|
|Company registration number:|1174289|
|Charity registration number:|267999|
|Auditor:|Cooper Parry Group Limited|
||Chartered Accountants & Statutory Auditor|
||Cubo Birmingham|
||Office 401, 4thFloor|
||Two Chamberlain Square|
||Birmingham|
||B3 3AX|
|Bankers:|Yorkshire Bank PLC|
||7 Gold Street|
||Northampton|
||NN1 1EN|
|Investment managers:|Charles Stanley & Co. Ltd|
||25 Luke Street|
||London|
||EC2A 4AR|
||Rathbones Investment Management Ltd|
||Port of Liverpool Building|
||Pier Head|
||Liverpool|
||L3 1NW|
||Newton Investment Management Ltd|
||160 Queen Victoria Street|
||London|
||EC4V 4LA|
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## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
## **Reference and Administrative Details of the Charity, its Trustees and Advisors (continued)**
Investment Managers (continued): Sarasins & Partners LLP Juxon House 100 St. Paul’s Churchyard London EC4M 8BU Solicitors: Hewitsons Elgin House, Billing Road Northampton NN1 5AU
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## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
**Annual report of the Trustees (incorporating the report of the Directors) for the year ended 31 March 2022**
## **Structure, Governance and Management**
## **FORMATION**
The Lamport Hall Preservation Trust was formed by Sir Gyles Isham by Deed dated 18[th] June 1974. His intention at the time was to gift the whole estate at Lamport into trust for the public benefit. On his death in 1976, within the terms of his will, Lamport Hall together with the outbuildings and park, pictures, books, silver, documents and other contents was passed to the newly created Preservation Trust. The balance of his estate, comprising farms, houses and the village hall, were left by way of endowment to what is now named the Lamport Endowment Estate, which forms part of the Charity.
The constitution of the Charity was formalised in 1986 by the adoption of a Consolidation document which also confirmed the Charity as a company limited by guarantee.
The Trustees have formed a farming company, Lamport Farms Limited, originally to actively farm 1,040 acres of the Endowment Estate and this enterprise has expanded to approximately 1,400 acres as farm tenancies to third parties have ended. This company gift aids its taxable profits to the Endowment Estate. In addition, Lamport Enterprises Limited was formed in 1983 to trade around the Hall, outbuildings and parks and gift aids all of its taxable profits to the Preservation Trust.
## **TRUSTEES**
The Trustees that served during the year are listed below. The Trustees continue to serve to the date of this report:
R L V Isham (Chairman) W R Butterfield, DL Lady Robinson, BA C D J Holborrow, DL R W Newman C L Brudenell, DL J T G Harris P Fenton
The intention is that the Trustees represent a range of skills relevant to the Charity.
New Trustees are appointed only if they can demonstrate to the current Trustees that they:
Have a long term commitment to the Charity; and will bring skills which are needed by and relevant to the objectives of the Charity.
Before appointment, prospective Trustees are invited to attend a Trustees’ meeting and given an indepth tour of the Charity’s total estate together with a detailed commentary by the Executive Director on relevant issues relating to the constituent parts and their contribution to the objectives of the Charity.
In addition, they are furnished with a copy of the constitution of the Charity, up to date financial information and a copy of the five year plan. The Board of Trustees as a body is conscious of the need to keep abreast of legal developments and changes in order for them to contribute to the welfare of the Charity.
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## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
**Annual report of the Trustees (incorporating the report of the Directors) for the year ended 31 March 2022 (continued)**
## **STRATEGIC MANAGEMENT**
The Trustees meet formally three times each year to consider all matters of policy and management which are then given to the Executive Director for implementation.
## **TACTICAL MANAGEMENT**
The Executive Director is responsible for the implementation of the Trustees’ policies and is the de facto Chief Executive of the Trust and its associated businesses. He is in regular contact with his Chairmen and in particular the Chairman of the Preservation Trust and Farming Company. Three additional meetings each year are held between the Executive Director and all three Chairmen. One of these meetings acts as an audit & investment committee and includes a Trustee who is a businessman.
In addition an Estate and Farm Walk takes place, usually late spring or early autumn, when the Trustees view the properties and farm at first hand.
## **RISK ASSESSMENT**
The Trustees have in place a Risk Register. This addresses the major governance, operational, financial, reputational, legal and regulatory risks which might impact upon the Trust’s core purposes and key objectives. This builds on the existing risk management in many aspects of the Trust’s work in areas such as financial management, health and safety, fire and security and disaster planning arrangements to protect both property and people. The Register is reviewed on an annual basis, and the Executive Director reports to the trustees on an annual basis whether any changes have been made.
A full health and safety audit was undertaken by a specialist consultant, who prepared a detailed report and a set of safety management manuals. The actions identified within the report have been completed.
The Trust adopted a Tree Safety Policy for the Estate’s land in March 2008. The Tree Safety Policy identifies and assesses hazards and risks and prioritises any works required. In accordance with the policy, checks are undertaken on an annual basis each spring. The Trust also has a Health and Safety Policy. The Trust continues to have an annual Health and Safety Review and an annual inspection of the fire extinguishing appliances in the Hall and outbuildings. The Tree Safety Policy and the Health and Safety Policy are reviewed on an annual basis.
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## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
**Annual report of the Trustees (incorporating the report of the Directors) for the year ended 31 March 2022 (continued)**
## **Objects and Activities**
## **OBJECTIVES**
The Memorandum of Association of Lamport Hall Preservation Trust Limited, as amended by Special Resolution in 1984, sets the objects of the Trust as being the advancement of historic and aesthetic education, in particular to:
- Preserve as national monuments buildings of national historic or architectural or artistic interest and importance and to protect and improve the amenities of such buildings and their surroundings;
- Preserve for the benefit of the nation and as an adjunct to any such buildings as aforesaid furniture, pictures and other chattels of national historic or artistic interest;
- Facilitate and encourage the access to and the study and appreciation of such buildings, furniture, pictures and chattels as aforesaid by the general public; and
- Fund, create, maintain and offer scholarships exhibitions prizes and rewards for educational purposes and in particular for purposes connected with historic or aesthetic education.
In furtherance of the above general and primary objects but not otherwise the Trust shall have the following powers:
- To accept gifts of or any interest in any real or personal property (including in particular the Mansion known as Lamport Hall in the County of Northampton and the contents thereof or any part or parts thereof respectively) for the general purposes of the Trust or for any particular purpose thereof; and
- Subject to the provisions of any undertaking given to the H.M Treasury in respect of Lamport Hall or any other property which is the subject matter of any Treasury Direction under the provisions of Paragraphs 13 (1) and (1A) of Schedule 6 to the Finance Act 1975 to purchase, take on lease or in exchange or on loan, hire or otherwise acquire any real or personal property and any rights or privileges necessary for the promotion of the objects of the trust.
## **Achievements and Performance**
The small Gothic Dining Room was restored to create a comfortable reading room. The bookcases house a collection of books bequeathed to the Trust by the late Benedict Fenwick, a former trustee. The room will be made available to students as a quiet place to read and study.
The french windows in the drawing room were replaced, improving the security, ease of use and aesthetics of the room. Wooden floors in the hall were repaired and polished.
Following the surrender of the secure tenants of Manor Farmhouse, Hanging Houghton, last year, the house was refurbished and let along with the neighbouring buildings, to new tenants at a premium rent. The industrial units behind the farmhouse were let to four lessees, providing full occupation.
The medieval fishponds were restored successfully and the ponds, which lie in the fields behind All Saints Church, opposite Lamport Hall, have established well. The scheme was funded through the Countryside Stewardship Scheme which commenced last year.
Other works which were funded by the Countryside Stewardship Scheme have continued to progress. These include the laying of new concrete in the farmyard at Scaldwell Lodge, the repair of rainwater gutters on various farm buildings.
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## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
**Annual report of the Trustees (incorporating the report of the Directors) for the year ended 31 March 2022 (continued)**
The annual benefits resulting from the Countryside Stewardship Scheme continue to be seen, with the conservation work undertaken through the scheme complimenting the objectives of the Trust and its work in preserving the Hall and surroundings for public benefit.
Tree surgery was carried out in accordance with the Parkland Management Plan, to improve the safety and health of the trees growing in the park.
All of the above has meant that some costs have been incurred, but the Trustees consider that they are consistent with the objectives of the Charity.
## **CURRENT ACTIVITY**
The Endowment Estate, Lamport Enterprises Limited and Lamport Farms Limited continue to provide revenue for the Preservation Trust. New, appropriate, ways to increase revenue are always being sought.
## **Endowment Estate**
As opportunities arise, improvements continue to be made to the residential properties on the Estate, with all cottages being modernised when they become vacant. Where cottages have been re-let, in all cases they have been let at a rent greater than the previous tenancy.
The refurbishment of Manor Farmhouse and buildings will make a significant increased contribution to the Estate rent roll in future years.
## **Farming Company**
The farming company posted successful yields from the majority of crops.
The work to implement the Countryside Stewardship Scheme continued and the claims for both revenue and capital works were submitted and claimed. The results of the scheme were demonstrable in the increased diversity of various species of animals and wild plants.
Additional grain storage buildings were constructed during the year to improve the business’s ability to store crops for longer which enables better timed sales of crops at higher prices.
The farm continues to be profitable, making a valuable financial contribution to the work of the wider Trust at the end of the year.
## **Enterprise Company**
The operations of the company were curtailed due to ongoing Covid control restrictions although a greater number of events were able to take place than the previous year, including two art & craft fairs, two antiques fairs, outdoor theatre and jazz performances, an outdoor dining event in the Walled Garden and a number of concerts.
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## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
**Annual report of the Trustees (incorporating the report of the Directors) for the year ended 31 March 2022 (continued)**
## **Preservation Trust**
## **Public Benefit and Activities**
The Preservation Trust’s diary of public usage records 109 events taking place over 97 days. This included the opening of the hall and gardens to the public on more than 60 days during the financial year. The Trust estimates that more than 13,000 people derived benefit from access to Lamport Hall and its grounds in 2021-22 (1,000 in 2020-21). It is anticipated that visitor levels will continue to gradually return to previous, pre-covid levels in subsequent years.
The Trust continues to donate tickets for a visit to Lamport Hall to local schools and local charities for raffle prizes. It also tries to oblige requests for the loan of paintings for exhibitions where appropriate. In addition the Trust allows access to several fundraising charities and offers free stalls to various charities at the fairs it hosts.
The events in the gardens continue to attract a good cross section of the general public. Included in the 2021 / 2022 programme were lectures, art courses, theatre performances, outdoor jazz, outdoor dining and classical music concerts. The number of these was increased compared to the previous year, due to Covid.
The link with the Royal & Derngate Theatre in Northampton, supporting its youth theatre programme and also a scheme designed to give disadvantaged children an opportunity to go to a theatre production, has continued.
## **Education**
The Trust maintained collaborative relationships with the University of Lincoln, University College London, Harper Adams University College and Moulton College. Students were offered the opportunity to reside on site and undertake appropriate research as part of their studies. Students from the University of Northampton organised a sculpture exhibition in the Hall and gardens during the year.
The newly restored reading room in the hall provides an attractive place for students to undertake study and research.
The tractor-drawn personnel trailer purchased through the Countryside Stewardship Scheme enabled students to be transported around the wider property for the purposes of their education.
Lectures were held in the Hall on topics pertinent to the work of the Trust and such events were wellattended during the year.
## **Volunteers**
The Trustees remain very grateful to the team of volunteers for their input and assistance in helping the Charity maintain the important activity of opening the Hall and gardens to the public. The pool of volunteers continues to grow in diversity, with two new volunteers being recruited during the year.
## **Investments**
The Investment Policy was established in November 2002 and is now reviewed by the Trustees’ Audit and Investment Committee on an annual basis. It has two functions, firstly, to develop capital growth and, secondly, to provide a balanced portfolio. Currently income from the investments is reinvested, but as and when necessary could be used to fund the objectives of the Charity.
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## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
## **Annual report of the Trustees (incorporating the report of the Directors) for the year ended 31 March 2022 (continued)**
Investment Managers are engaged by the Trust to manage the portfolio. The Investment Managers are asked to produce a portfolio which is liquid enough so that, if necessary, investments can be sold to fund, for example, an emergency repair and/or any property development opportunity that may arise. Furthermore, the spread of investments within the portfolio is structured with a view to maximising the Trust’s ability to select investments for sale in due course, which will realise a gain on sale and not a loss.
All of the Investment Managers are fully conversant with charities and their investments. The Trust has have given much thought to the monitoring of these investments. As a result the Investment Managers prepare statements twice a year showing the movement in capital value and the income received from assets under management.
The viability of these investments is closely monitored and the Trustees are conscious of the need for an increased endowment to supplement the funds generated from the day to day operating activities of the Trust. The Trust recognises that the difficult conditions in the rural economy and the uncertainty surrounding farm subsidies post-Brexit may mean that, in the future, the income from the investments will be very important. On the Endowment Estate the Trust continues to explore development potential and diversification opportunities where appropriate to help augment this fund.
Between 1 April 2021 and 31 March 2022 the listed investment portfolio value increased by £387,698 (2020-2021: increased by £1,035,801). The increased level of performance was attributed to the rebound effect on global markets of the Covid-19 virus. It is, however, likely that performance will be at best muted, possibly negative for the following year as a result of challenges facing the global and domestic economies and the ongoing conflict in Ukraine.
## **Financial Review**
The net movement in funds for the year to 31 March 2022 was £3,346,516 (2021: £1,306,901). Total incoming resources for the year were £1,424,096 which was an increase from the previous year’s total incoming resources of £1,204,859. Total resources expended this year are £1,359,558.
## **Reserves Policy**
It is the policy of the Trust to hold reserves in its non-charitable trading entities, the Preservation Trust and Endowment Estate, which have not yet been committed or designated for any particular purpose. The Trust has set aside these reserves in order to protect the future operations of the Charity from the effects of any unforeseen variations in its income streams as part of a policy of good financial management practice.
The nature of the assets of the Trust are such that high levels of expenditure can be incurred in both the short and long term, which necessitates the Trust having access to liquid funds. At 31 March 2022 the amount of funds in the trading subsidiaries amounted to £318,177 (2021: £234,327), £3,806,122 (2021: £4,169,218) in the Preservation Trust and £28,495,329 (2021: £24,869,567) in the Endowment Estate.
The Trust is aware that the level of free reserves amounting to £318,177 may not be sufficient. Accordingly, it is conscious of the need to raise further income from the Endowment Estate which can then be used to supplement further charitable expenditure. This has been implemented by investing in several portfolios, generating income amounting to £111,298 (2021: £100,143) in the financial year. It is the Trust’s’ intention to improve on this over the course of the coming years.
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## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
## **Annual report of the Trustees (incorporating the report of the Directors) for the year ended 31 March 2022 (continued)**
The financial position of the Trust remains stable, although the Trustees have identified the need for increased income in the medium term. The trading activities of the two subsidiary companies continued to provide incoming resources to the Trust. Lamport Farms Limited donated its taxable profits of £64,661 (2021: £107,356) and Lamport Enterprises Limited donated its taxable profits of £188 (2021: £74,447) by way of gift aid to the parent charity, the Preservation Trust. It is noted that the gift aid donations are made in the accounting year following the year in which the profits are generated.
## **Statement of the principal financial management policies adopted in the year**
The Trustees continue to maintain a close financial control over the performance of the various income strategies.
The Trustees are aware that the assets of the Preservation Trust do not currently have the ability to produce enough income to cover all annual and cyclical costs, and so non-revenue generating land assets need to be turned into revenue earning assets when opportunities arise.
The Trust’s policy is to achieve:
- capital growth and some income from the investments managed by the Investment Managers;
- a sustainable income stream through the activities of the trading companies; and
- continue to increase revenue from the Estate.
The Audit and Investment Committee meets annually to review all financial and investment matters.
The principal sources of funding for the Charity this year continued to be the income derived from the trading activities of the Farm and the rental income from the properties on the Estate. The investment income from the Endowment Estate was reinvested.
## **Plans for future periods**
The Preservation Trust continues to work towards the objectives set out for it by Sir Gyles Isham. In particular, the Trustees wish to see the Hall and outbuildings and gardens fully maintained so that they can be fully opened to the public, the cottages well maintained and brought up to date where needed, and the farm tenancies retaining their viability. The Trust continues to explore opportunities to maximise the potential of the Estate. The Hall will continue to be open to the public as in the past and the Trustees will continue to encourage increased high quality access to the Hall and gardens by hosting additional educational activities. The Trust sees this as key to its success in gaining maximum public benefit in the future. The Trustees and staff will continue to work to ensure that these objectives can be achieved.
The Trust will continue a programme of restoring and maintaining the Hall’s contents as well as the fabric of the built assets of the Trust.
The Trust wishes to continue to increase the quality of the visitor experience by offering a wide range of educational activities in addition to the traditional house visit. Individual lecturers and tutors continue to be sought to organise independent courses in a variety of subjects, as demonstrated by the support given to third parties operating the masterclasses held in the Old Laundry. The Hannington Vintage Tractor Club continues to be allowed to house its vintage tractor collection in the grounds, and has been assisted by the Trust in making its exhibits and contents more user-friendly and accessible to the public. The Trust is keen to see increased use of the Hall’s archives by research students and to increase links with adult educational institutions.
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## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
## **Annual report of the Trustees (incorporating the report of the Directors) for the year ended 31 March 2022 (continued)**
The Trustees expect to complete the restoration and repair of the outbuildings still in need of repair during the next phase of their guardianship. In particular the buildings at Isham Barns may be converted to residential use in order to generate additional income to the Charity and there may be opportunities for additional development at Scaldwell Lodge Farm and Manor Farm, Hanging Houghton. Work will continue on refurbishing the cottage stock as it becomes vacant.
## **STATEMENT OF TRUSTEES RESPONSIBILITIES**
Law applicable to charities in England and Wales requires the directors/trustees to prepare accounts for each financial year, which give a true and fair view of the state of the charitable company and group’s affairs and of its income and expenditure for the financial year. In preparing these accounts the directors/ trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts;
- prepare the accounts on a going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The directors/trustees are responsible for keeping adequate accounting records which disclose, with reasonable accuracy at any time, the financial position of the charitable company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The maintenance and integrity of the charity’s website is the responsibility of the trustees. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislations in other jurisdictions.
In so far as the Directors/Trustees are aware:
- There is no relevant information of which the group’s auditor is not aware and
- The Directors/Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
## **AUDITOR**
Cooper Parry Group Limited has expressed its willingness to continue in office as auditor and will be proposed for reappointment in accordance with section 485 of the Companies Act 2006
## **By order of the Board**
**…………………………… R L V Isham Chairman**
## **9 December 2022**
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## L **AMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
## **Independent Auditor’s Report to the members of Lamport Hall Preservation Trust Limited**
We have audited the financial statements of Lamport Hall Preservation Trust (“the Parent Charitable Company”) and its subsidiaries (“the Group”) for the year ended 31 March 2022 which comprise the group statement of financial activities, the consolidated and company balance sheet, the consolidated statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the Group’s and of the Parent Charitable Company’s affairs as at 31 March 2022 and of the Group’s incoming resources and application of resources for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Group and the Parent Charitable Company in accordance with the ethical requirements relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group or Parent Charitable Company's ability to continue as a
going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
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## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
## **Independent Auditor’s Report to the members of Lamport Hall Preservation Trust Limited (continued)**
## **Other information**
The other information comprises the information included in the Trustees’ Annual Report and Financial Statements, other than the financial statements and our auditor’s report thereon. The other information comprises the Annual Report of the Trustees. The Trustees are responsible for the other information.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Opinion on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees’ Report, which includes the Directors’ Report prepared for the purposes of Company Law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Directors’ Report, which is included in the Trustees’ Report, has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the Group and the Parent Charitable Company and its environment obtained in the course of the audit, we have not identified material misstatement in the Strategic report or the Trustee’s report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Act 2011 requires us to report to you if, in our opinion;
- proper and adequate accounting records have not been kept by the Parent Charitable Company, or returns adequate for our audit have not been received from branches not visited by us; or
- the Parent Charitable Company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of Trustees’ remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the Directors’ report and from the requirement to prepare a strategic report.
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## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
## **Independent Auditor’s Report to the members of Lamport Hall Preservation Trust Limited (continued)**
## **Responsibilities of trustees**
As explained more fully in the Statement of Trustees' responsibilities, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Group’s and the Parent Charitable Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the Parent Charitable Company or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 151 of the Charities Act 2011 and under the Companies Act 2006 and report in accordance with the Acts and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our assessment focussed on key laws and regulations the Parent Charitable Company has to comply with and areas of the financial statements we assessed as being more susceptible to misstatement. These key laws and regulations included but were not limited to compliance with the Companies Act 2006, Charities Act 2011, Charities (Protection and Social Investment) Act 2016, taxation legislation, data protection, anti-bribery and employment legislation.
We are not responsible for preventing irregularities. Our approach to detecting irregularities included, but was not limited to, the following:
- obtaining an understanding of the legal and regulatory framework applicable to the Parent Charitable Company and how the Parent Charitable Company is complying with that framework, including agreement of financial statement disclosures to underlying documentation and other evidence;
- obtaining an understanding of the Parent Charitable Company control environment and how the Parent Charitable Company has applied relevant control procedures, through discussions with Trustees and other management and by performing walkthrough testing over key areas;
- obtaining an understanding of the Parent Charitable Company’s risk assessment process, including the risk of fraud;
- reviewing meeting minutes of those charged with governance throughout the year;
13
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## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
## **Independent Auditor’s Report to the members of Lamport Hall Preservation Trust Limited (continued)**
- performing audit testing to address the risk of management override of controls, including testing journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias; and
- obtaining sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.
Whilst considering how our audit work addressed the detection of irregularities, we also considered the likelihood of detection based on our approach. Irregularities arising from fraud are inherently more difficult to detect than those arising from error.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located at the Financial Reporting Council’s (“FRC’s”) website at https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## **Use of the report**
This report is made solely to the Charitable Company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the Charitable Company’s trustees, as a body, in accordance with the Charities Act 2011. Our audit work has been undertaken so that we might state to the Charitable Company’s members and trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charitable Company, the Charitable Company’s members as a body and the Charitable Company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
## **Glen Bott FCA (Senior Statutory Auditor)**
For and on behalf of Cooper Parry Group Limited Chartered Accountants and Statutory Auditor Cubo Birmingham, Office 401, 4[th] Floor, Two Chamberlain Square, Birmingham, B3 3AX
Date:
14
DocuSign Envelope ID: 594791C7-37D5-45FD-8330-0F91F2EDCDB5
## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
## **Consolidated statement of financial activities (incorporating the Consolidated Income and Expenditure Account) for the year ended 31 March 2022**
||||**Restricted**|**Restricted**|**Restricted**|||
|---|---|---|---|---|---|---|---|
||||**Lamport**|**Endowment**|**Preservation**|**Total**|**Total**|
||**Notes**|**Unrestricted**|**Church**|**Estate**|**Trust**|**2022**|**2021**|
|||£|£|£|£|£|£|
|**INCOME AND ENDOWMENTS FROM:**||||||||
|Donations and legacies|2|43,452|-|-|685|44,137|31,397|
|Income from charitable activities|2|5,188|-|-|-|5,188|45|
|Other trading activities|2|764,191|-|-|19,639|783,830|614,331|
|Other income|2|15,234|-|2,125|3,822|21,181|85,022|
|Income from investments|2|39,811|-|486,874|43,075|569,760|474,064|
||||_______|______|_______|_______|_______|
|||_______||||||
|**Total income and endowments**||867,876|-|488,999|67,221|1,424,096|1,204,859|
|||_______|_______|______|_______|_______|_______|
|**EXPENDITURE ON:**||||||||
|Expenditure on raising funds|3.1|546,297|-|210,433|13,630|770,360|564,323|
|Expenditure on charitable activities|3.2|8,509|-|-|580,689|589,198|505,967|
||||_______|______|_______|_______|_______|
|||_______||||||
|**Total expenditure**||554,806|-|210,433|594,319|1,359,558|1,070,290|
|||_______|_______|______|_______|_______|_______|
|**Net income / (expenditure)**||||||||
|**before gains/(losses) on investments**||313,070|-|278,566|(527,098)|64,538|134,569|
|Gains/(losses) on investment assets||-|-|3,281,978|-|3,281,978|1,172,332|
|||_______|_______|______|_______|_______|_______|
|**Net income / (expenditure)**||||||||
|**for the year carried forward to next page**||313,070|-|3,560,544|(527,098)|3,346,516|1,306,901|
15
DocuSign Envelope ID: 594791C7-37D5-45FD-8330-0F91F2EDCDB5
## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
**Consolidated statement of financial activities (incorporating the Consolidated Income and Expenditure Account) for the year ended 31 March 2022** (continued)
|**Restricted**
**Restricted**
**Restricted**
**Lamport**
**Endowment**
**Preservation**
**Notes**
**Unrestricted**
**Church**
**Estate**
**Trust**
£
£
£
£
**Net income / (expenditure)**
**for the year brought forward from previous page**
313,070
-
3,560,544
(527,098)
Transfers between funds
(229,220)
-
65,218
164,002
_______
_______
______
_______
**Net income/(expenditure) and net**
**movement in funds**
4
83,850
-
3,625,762
(363,096)
Fund balances brought forward
at 1 April 2021
234,327
18,741
24,869,567
4,169,218
_______
_______
________
________
**Fund balances carried**
**forward at 31 March 2022**
12
318,177
18,741
28,495,329
3,806,122
|**Total**
**2022**
£
3,346,516
-
_______
3,346,516
29,291,853
_________
32,638,369
|**Total**
**2021**
£
1,306,901
-
_______
1,306,901
27,984,952
_________
29,291,853
|
|---|---|---|
The charity has no recognised gains or losses other than the results for the year as set out above.
All of the activities of the charity are classed as continuing.
The charity has taken advantage of section 408 of the Companies Act 2006 to not publish its own Statement of Financial Activities.
16
DocuSign Envelope ID: 594791C7-37D5-45FD-8330-0F91F2EDCDB5
## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
## **Consolidated statement of financial activities (incorporating the Consolidated Income and Expenditure Account) for the year ended 31 March 2021**
||||**Restricted**|**Restricted**|**Restricted**|||
|---|---|---|---|---|---|---|---|
||||**Lamport**|**Endowment**|**Preservation**|**Total**|**Total**|
||**Notes**|**Unrestricted**|**Church**|**Estate**|**Trust**|**2021**|**2020**|
|||£|£|£|£|£|£|
|**INCOME AND ENDOWMENTS FROM:**||||||||
|Donations and legacies|2|31,397|-|-|-|31,397|23|
|Income from charitable activities|2|45|-|-|-|45|10,297|
|Other trading activities|2|613,708|-|-|623|614,331|703,910|
|Other income|2|7,026|-|-|77,996|85,022|28,982|
|Income from investments|2|12,190|-|428,688|33,186|474,064|500,914|
||||_______|______|_______|_______|_______|
|||_______||||||
|**Total income and endowments**||664,366|-|428,688|111,805|1,204,859|1,244,126|
|||_______|_______|______|_______|_______|_______|
|**EXPENDITURE ON:**||||||||
|Expenditure on raising funds|3.1|441,283|-|120,203|2,837|564,323|507,059|
|Expenditure on charitable activities|3.2|8,039|-|-|497,928|505,967|575,570|
||||_______|______|_______|_______|_______|
|||_______||||||
|**Total expenditure**||449,322|-|120,203|500,765|1,070,290|1,082,629|
|||_______|_______|______|_______|_______|_______|
|**Net income / (expenditure)**||||||||
|**before gains/(losses) on investments**||215,044|-|308,485|(388,960)|134,569|161,497|
|Gains/(losses) on investment assets||-|-|1,172,332|-|1,172,332|3,468,768|
|||_______|_______|______|_______|_______|_______|
|**Net income / (expenditure)**||||||||
|**for the year carried forward to next page**||215,044|-|1,480,817|(388,960)|1,306,901|3,630,265|
17
DocuSign Envelope ID: 594791C7-37D5-45FD-8330-0F91F2EDCDB5
## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
**Consolidated statement of financial activities (incorporating the Consolidated Income and Expenditure Account) for the year ended 31 March 2021** (continued)
|**Restricted**
**Restricted**
**Restricted**
**Lamport**
**Endowment**
**Preservation**
**Notes**
**Unrestricted**
**Church**
**Estate**
**Trust**
£
£
£
£
**Net income / (expenditure)**
**for the year brought forward from previous page**
215,044
-
1,480,817
(388,960)
Transfers between funds
(330,780)
-
272,832
57,948
_______
_______
______
_______
**Net income/(expenditure) and net**
**movement in funds**
4
(115,736)
-
1,753,649
(331,012)
Fund balances brought forward
at 1 April 2020
350,063
18,741
23,115,918
4,500,230
_______
_______
________
________
**Fund balances carried**
**forward at 31 March 2021**
12
234,327
18,741
24,869,567
4,169,218
|**Total**
**2021**
£
1,306,901
-
_______
1,306,901
27,984,952
_________
29,291,853
|**Total**
**2020**
£
3,630,265
-
_______
3,630,265
24,354,687
_________
27,984,952
|
|---|---|---|
The charity has no recognised gains or losses other than the results for the year as set out above.
All of the activities of the charity are classed as continuing.
The charity has taken advantage of section 408 of the Companies Act 2006 to not publish its own Statement of Financial Activities.
18
DocuSign Envelope ID: 594791C7-37D5-45FD-8330-0F91F2EDCDB5
## **LAMPORT HALL PRESERVATION TRUST LIMITED**
## **AND ITS SUBSIDIARY UNDERTAKINGS**
## **Consolidated balance sheet at 31 March 2022**
|**Notes**
**Fixed assets**
Tangible assets
7
Investments
8
**Current assets**
Stocks
9
Debtors
10
Cash at bank and in hand
**Creditors: amounts falling due**
**within one year**
11
**Net current assets**
**Total assets less current liabilities**
**Capital funds**
Endowment Estate fund
12
**Income funds**
Restricted fund - Preservation Trust
12
Restricted fund - Lamport Church
12
Unrestricted funds
12|**2022**
**£**
10,025,435
21,752,642
_________
31,778,077
_________
243,072
399,787
341,490
_________
984,349
(124,057)
_________
860,292
_________
32,638,369
28,495,329
3,806,122
18,741
318,177
_________
32,638,369|**2021**
**£**
9,902,567
18,394,274
_________
28,296,841
_________
213,559
78,225
807,008
_________
1,098,792
(103,780)
_________
995,012
_________
29,291,853
24,869,567
4,169,218
18,741
234,327
_________
29,291,853|
|---|---|---|
These financial statements were approved by the Governing Body and authorised for issue on 9 December 2022:
R L V Isham Chairman ) ……………………………… ) ) W R Butterfield, DL ) Trustee ) ……………………………… )
## **Company Registration Number: 1174289 Registered Charity Number: 267999**
The notes on pages 22 to 37 form part of these financial statements
19
DocuSign Envelope ID: 594791C7-37D5-45FD-8330-0F91F2EDCDB5
## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
## **Charitable company balance sheet at 31 March 2022**
|||**2022**|**2021**|
|---|---|---|---|
|||£|£|
|**Fixed assets**||||
|Tangible assets|7|7,993,186|7,968,850|
|Investments|8|34,650,429|29,258,781|
|||_________|_________|
|||42,643,615|37,227,631|
|||_________|_________|
|**Current assets**||||
|Stocks|9|-|-|
|Debtors|10|729,516|263,987|
|Cash at bank and in hand||179,953|766,597|
|||_________|_________|
|||909,469|1,030,584|
|**Creditors: amounts falling due**||||
|**within one year**|11|(79,520)|(77,007)|
|||_________|_________|
|**Net current assets**||829,949|953,577|
|||**_________**|**_________**|
|||43,473,564|38,181,208|
|**Capital funds**||||
|Endowment Estate fund|12|39,075,856|33,418,982|
|**Income funds**||||
|Restricted funds||||
|Preservation Trust fund|12|4,378,967|4,743,485|
|Lamport Church Fund|12|18,741|18,741|
|Unrestricted funds|12|-|-|
|||_________|_________|
|||43,473,564|38,181,208|
These financial statements were approved by the Governing Body and authorised for issue on 9 December 2022:
|R L V Isham||
|---|---|
|Chairman|)|
|………………………………|)|
||)|
|W R Butterfield, DL|)|
|Trustee|)|
|………………………………|)|
## **Company Registration Number: 1174289 Registered Charity Number: 267999**
The notes on pages 22 to 37 form part of these financial statements
20
DocuSign Envelope ID: 594791C7-37D5-45FD-8330-0F91F2EDCDB5
## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
## **Consolidated statement of cash flows for the year ended 31 March 2022**
|||**2022**|**2021**|
|---|---|---|---|
|||£|£|
|**Cash flows from operating activities**|19|(571,004)|(161,618)|
|**Cash flows from investing activities**|20|105,486|116,203|
|**Cash flows from financing activities**||-|-|
|||_________|_________|
|**Increase in cash in the year**||**(465,518)**|**(45,415)**|
|Total cash at the beginning of the year||807,008|852,423|
|||_________|_________|
|**Total cash at the end of the year**||**341,490**|**807,008**|
21
DocuSign Envelope ID: 594791C7-37D5-45FD-8330-0F91F2EDCDB5
## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
## **Notes to the financial statements for the year ended 31 March 2022**
## **General information**
Lamport Hall Preservation Trust is a charitable company, limited by guarantee, incorporated in England and Wales and domiciled in England. The registered office is Lamport Hall, Northampton, NN6 9HD and the registered number is 01174289.
## **1. Accounting policies**
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## a) **Basis of preparation**
The financial statements have been prepared in accordance with the Statement of Recommended Practice: 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) (effective 1 January 2019), the Charities Act 2011 and the Companies Act 2006.
The charitable company meets the definition of a public benefit entity as defined by FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
The Trustees believe that the Charitable Group is well placed through the uncertain times caused by the coronavirus pandemic due to its strong cash position and significant net assets amounting to £29.3m at the year end.
Forecasts have been prepared to factor in the impact of the pandemic. The financial statements have been prepared on a going concern basis as the trustees consider that adequate reserves and strong cash balances are available to continue to fund the activities of the charity and the group.
- b) **Basis of consolidation**
The group financial statements consolidate those of the charity and its wholly owned subsidiary undertakings drawn up to 31 March 2021. The results of the charity’s non-charitable trading subsidiaries, Lamport Enterprises Limited and Lamport Farms Limited, have been incorporated on a line by line basis.
A separate Statement of Financial Activities and Income and Expenditure Account for the charity has not been presented because the Charity has taken advantage of the exemption afforded by section 408 of the Companies Act 2006.
- c) **The charity**
The charity comprises the Preservation Trust Fund and the Endowment Estate Fund, which are registered under one charity number with the Endowment Estate Fund being a subsidiary of the Preservation Trust Fund.
- d) **Incoming resources**
- Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.
- i) Voluntary income is recognised on a receivable basis
- ii) Grants are recognised on a receivable basis
- iii) Other income of the charity is recognised on an accruals basis
- iv) Income from the commercial activities undertaken by the charity’s subsidiaries is recognised on an accruals basis
- v) Investment income is included in the Statement of Financial Activities in the year in which it is receivable
22
DocuSign Envelope ID: 594791C7-37D5-45FD-8330-0F91F2EDCDB5
## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
## **Notes to the financial statements for the year ended 31 March 2022**
## e) **Resources expended**
Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive (where applicable) of any VAT which cannot be recovered.
Cost of generating funds are those costs incurred in fundraising, the commercial trading costs and investment management costs
Charitable activity costs are incurred in supporting the objectives of the charity.
Governance costs include costs primarily associated with the constitutional and statutory requirements of the charity.
Support costs include central functions and have been allocated to activity cost categories on an activity basis.
Certain expenditure is directly attributable to specific activities and has been included in those cost categories. Other costs attributable to more than one activity are apportioned across cost categories on the basis of the proportion of time spent by staff on those activities.
## f) **Fund accounting**
Funds held by the charity are either:
Restricted funds – these are funds that can only be used for the particular restricted purposes within the objects of the charity. Both Endowment Funds are designated as restricted.
Unrestricted funds – these are incoming resources received or generated for expenditure on the general objectives of the charity.
## g) **Fixed assets and depreciation**
## **Furniture, fixtures and exhibits**
Furniture, fixtures and exhibits are not depreciated as, in the opinion of the members of the Governing Body, they are maintained to a standard which will ensure their continued existence at a value at least equal to the value included in the financial statements.
## **Depreciation**
Depreciation on other fixed assets is calculated to write down the cost of fixed assets over their expected useful lives. The rates generally applicable are:
Farm plant, implements and equipment 15%-25% reducing balance Estate plant, fixtures and fittings 15% reducing balance Farm improvements and drainage 10% straight line Improvements to buildings and cottages 2% - 25% straight line Motor vehicles 25% reducing balance
## **Freehold land, buildings and exhibits**
The transitional provisions of Financial Reporting Standard 102 have been adopted in respect of the carrying value of freehold land, buildings and exhibits.
These assets were last revalued in 1997 and this valuation has been adopted as surrogate cost. No revaluations have been performed since 1997 and no revaluations are to be made in the foreseeable future unless required under Financial Reporting Standard 102.
Freehold buildings with an estimated useful life of fifty years or less are depreciated on a straight line basis, calculated on valuation, over the future estimated life. At 31 March 2021, the Trustees were of the opinion that every freehold building has a useful life greatly in excess of fifty years. No depreciation has therefore been provided as it is considered that the amount involved would not be material to the statement of financial activities. Freehold buildings and exhibits are reviewed annually for impairment in accordance with Financial Reporting Standard 102, with any consequent reduction in carrying values recognised in the statement of financial activities.
23
DocuSign Envelope ID: 594791C7-37D5-45FD-8330-0F91F2EDCDB5
## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
## **Notes to the financial statements for the year ended 31 March 2022**
## g) **Fixed assets and depreciation - continued**
However any improvements made to buildings and cottages since 1997 have been capitalised and it is the intention of the trustees to depreciate these over their estimated useful life.
- h) **Investments**
Investments are a form of basic financial instrument, are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing market value. Gains and losses arising on disposals and revaluation throughout the year are included in the statement of financial activities.
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.
- i) **Stocks**
Stocks which comprise growing crops and cultivations, together with souvenir shop stock, are stated at the lower of cost and net realisable value.
j) **Taxation** No provision has been made for corporation tax, as the company is of charitable status. No provision for corporation tax is necessary in the subsidiary undertakings as, such sums as shall equal the whole of its income as computed for the purposes of the Corporation Tax Act 2010 are gift aided to the parent company, Lamport Hall Preservation Trust Limited.
## k) **Contributions to pension funds Defined Contribution Scheme**
The pension costs charged in the year represent the amount of the contributions payable to the scheme in respect of the accounting period. The assets of the scheme are held separately from those of the charity.
- l) **Operating leases**
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
24
DocuSign Envelope ID: 594791C7-37D5-45FD-8330-0F91F2EDCDB5
## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
**Notes to the financial statements for the year ended 31 March 2022**
## **2. Incoming resources**
|||**Restricted**|**Restricted**|**Restricted**|||
|---|---|---|---|---|---|---|
|||**Lamport**|**Endowment**|**Preservation**|**Total**|**Total**|
||**Unrestricted**|**Church**|**Estate**|**Trust**|**2022**|**2021**|
||£|£|£|£|£|£|
|**Donations and legacies**|||||||
|Voluntary income|43,452|-|-|685|44,137|31,397|
||_______|_______|_______|_______|_______|_______|
||**43,452**|**-**|**-**|**685**|**44,137**|**31,397**|
|**Income from charitable**|||||||
|**activities**|||||||
|Shop sales and catering|5,188|-|-|-|5,188|45|
||_______|_______|_______|_______|_______|_______|
||**5,188**|**-**|**-**|**-**|**5,188**|**45**|
|**Other trading activities**|||||||
|Commercial trading income|667,135|-|-|-|667,135|596,235|
|Event income and room hire|97,056|-|-|15,075|112,131|17,473|
|House showing and concert|||||||
|admissions|-|-|-|4,564|4,564|623|
||_______|_______|_______|_______|_______|_______|
||**764,191**|**-**|**-**|**19,639**|**783,830**|**614,331**|
|**Other income**|||||||
|Sundry income|15,234|-|2,125|3,822|21,181|81,782|
|Profit on sale of tangible
fixed asset|-|-|-|-|-|3,240|
||_______|_______|_______|_______|_______|_______|
||**15,234**|**-**|**2,125**|**3,822**|**21,181**|**85,022**|
|**Income from investments**|||||||
|Rental income|39,695|-|375,453|43,036|458,184|373,921|
|Listed investment income|-|-|111,298|-|111,298|100,143|
|Bank deposits|116|-|123|39|278|-|
||_______|_______|_______|_______|_______|_______|
||**39,811**|**-**|**486,874**|**43,075**|**569,760**|**474,064**|
||_______|_______|_______|_______|_______|_______|
||**867,876**|**-**|**488,999**|**67,221**|**1,424,096**|**1,204,859**|
||_______|_______|_______|_______|_______|_______|
25
DocuSign Envelope ID: 594791C7-37D5-45FD-8330-0F91F2EDCDB5
## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
## **Notes to the financial statements for the year ended 31 March 2022**
## **3. Resources expended**
|3.1**Expenditure on raising funds**
**Restricted**
**Restricted**
**Restricted**
**Lamport Endowment Preservation**
**Total**
**Unrestricted**
**Church**
**Estate**
**Trust**
**2022**
£
£
£
£
£
Farming expenditure
239,354
-
-
13,630
252,984
Enterprises expenditure
75,016
-
-
-
75,016
Fundraising trading and
direct costs
-
-
-
-
-
Staff costs
70,264
-
-
-
70,264
Share of support costs
161,663
-
175,526
-
337,189
Investment management costs
-
-
34,907
-
34,907
_______
______
______
______
_______
546,297
-
210,433
13,630
770,360
3.2**Expenditure on charitable activities**
**Restricted**
**Restricted**
**Endowment**
**Preservation**
**Total**
**Unrestricted**
**Estate**
**Trust**
**2022**
£
£
£
£
Shop cost of sales
-
-
-
-
Share of support costs
8,509
-
580,689
589,198
______
______
______
______
8,509
-
580,689
589,198
3.3**Analysis of support costs**
**Restricted**
**Restricted**
**Endowment**
**Preservation**
**Total**
**Unrestricted**
**Estate**
**Trust**
**2022**
£
£
£
£
Establishment
(6,365)
5,722
123,099
122,456
Equipment and repairs
49,269
27,614
45,827
122,710
Communications
300
-
8,706
9,006
Staff costs
-
-
271,339
271,339
Management and finance
115,882
137,638
127,925
381,445
Governance costs
11,086
4,552
3,793
19,431
______
______
_______
_______
170,172
175,526
580,689
926,387
**Split by activity:**
**Restricted**
**Restricted**
**Endowment**
**Preservation**
**Total**
**Unrestricted**
**Estate**
**Trust**
**2022**
£
£
£
£
Cost of generating funds
161,663
175,526
-
337,189
Charitable activities
8,509
-
580,689
589,198
______
______
_______
_______
170,172
175,526
580,689
926,387|**Total**
**2021**
£
221,152
13,498
-
56,735
242,359
30,579
_______
564,323
**Total**
**2021**
£
-
505,967
______
505,967
**Total**
**2021**
£
140,896
66,071
9,032
271,131
247,091
14,105
_______
748,326
**Total**
**2021**
£
242,359
505,967
_______
748,326|
|---|---|
26
DocuSign Envelope ID: 594791C7-37D5-45FD-8330-0F91F2EDCDB5
## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
## **Notes to the financial statements for the year ended 31 March 2022**
|3.4**Governance costs**
**Restricted**
**Restricted**
**Endowment**
**Preservation**
**Unrestricted**
**Estate**
**Trust**
£
£
£
Auditors remuneration
11,086
4,552
3,793
______
______
______
11,086
4,552
3,793
**4. Net movement in funds is stated after:**
Depreciation
Auditors’ remuneration|**Total**
**2022**
£
19,431
______
19,431
**2022**
£
265,016
19,431|**Total**
**2021**
£
14,105
______
14,105|
|---|---|---|
|||**2021**
£
140,724
14,105|
27
DocuSign Envelope ID: 594791C7-37D5-45FD-8330-0F91F2EDCDB5
## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
## **Notes to the financial statements for the year ended 31 March 2022**
## **5. Net income from non-charitable trading activities of subsidiaries**
A summary of the results of the trading subsidiaries is set out below.
|
Turnover
Cost of sales
Gross profit
Administration costs
Other operating income
Interest receivable
Interest payable and similar charges
Net profit/(loss)
Gift aid payment to Lamport
Hall Preservation Trust Limited
Tax on profit/loss for the year
Retained in subsidiary
The net assets and liabilities of the subsidiaries
Fixed assets
Current assets
Current liabilities
Total assets less current liabilities
Aggregate share capital and reserves
**Staff costs**
Staff costs during the year were as follows:
Wages and salaries
Social security costs
Pension costs|**Lamport**
**Lamport**
**Farms**
**Enterprises**
**Total**
**Limited**
**Limited**
**2022**
£
£
£
716,172
108,138
824,310
(240,945)
(99,016)
(339,961)
475,227
9,122
484,349
(354,659)
(20,560)
(375,219)
16,785
26,667
43,452
85
32
117
(4,000)
-
(4,000)
133,438
15,261
148,699
(64,661)
(188)
(64,849)
-
-
-
68,777
15,073
83,850
were:
291,129
305
291,434
678,908
99,520
778,428
(667,665)
(84,020)
(751,685)
_______
_______
_______
302,372
15,805
318,177
302,372
15,805
318,177
**2022**
£
302,159
26,309
13,135
_______
341,603
|**Total**
**2021**
£
632,969
(233,624)
399,345
360,675
31,397
-
(4,000)
66,067
(181,804)
-
(115,737)
192,903
333,441
(292,017)
234,327
234,327
**2021**
£
298,534
25,290
12,713
_______
336,537|
|---|---|---|
## **6. Staff costs**
28
DocuSign Envelope ID: 594791C7-37D5-45FD-8330-0F91F2EDCDB5
## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
## **Notes to the financial statements for the year ended 31 March 2022**
## **6. Staff costs** (continued)
The average monthly head count was 10 staff (2021: 10 staff) and the average monthly number of employees of the charity during the year as calculated on a full-time equivalent basis, was:
||**2022**|**2021**|
|---|---|---|
||**Number**|**Number**|
|Preservation and showing activity|5|5|
|Administration|5|5|
||10|10|
One employee received remuneration (excluding employer pension contributions) in excess of £60,000 (£70,000 - £80,000), (2021: one in excess of £60,000 (£70,000 - £80,000)).
The group paid £7,000 (2021: £7,000) under a defined contribution pension scheme for the above employee.
The group paid £1,064 (2021: £1,030) for Trustee Indemnity insurance during the year.
The charity trustees were not paid nor received any other benefits from employment with the Trust or its subsidiaries in the year (2021: £nil) neither were they reimbursed expenses during the year (2021: £nil). No charity trustee received payment for professional or other services supplied to the charity (2021: £nil).
The key management personnel of the group is considered to be the Executive Director and the Farm Manager. The employee benefits of the key management personnel including employer national insurance and employer pension contributions amounted to £133,935 (2021: £135,982).
29
DocuSign Envelope ID: 594791C7-37D5-45FD-8330-0F91F2EDCDB5
## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
## **Notes to the financial statements for the year ended 31 March 2022**
## **7. Tangible fixed assets**
|**Freehold**
**The group**
**land,**
**Farm**
**Implements**
**buildings**
**improvements**
**and**
**and exhibits**
**and woodlands**
**equipment**
£
£
£
**Cost or valuation**
At 1 April 2021
11,104,932
315,602
840,875
Additions
190,297
103,148
87,837
Disposals
(86,002)
-
(9,969)
_________
________
_______
At 31 March 2022
11,209,227
418,750
918,743
**Depreciation**
At 1 April 2021
1,452,200
206,134
724,230
Charged in the year
167,311
16,093
74,306
Released on disposal
(86,002)
-
(9,969)
At 31 March 2022
1,533,509
222,227
788,567
**Net book value**
At 31 March 2022
9,675,718
196,523
130,176
At 31 March 2021
9,652,732
109,468
116,645|**Motor**
**vehicles**
£
42,570
6,602
-
_______
49,172
18,848
7,306
-
26,154
23,018
23,722|**Total**
£
12,303,979
387,884
(95,971)
_________
12,595,892
2,401,412
265,016
(95,971)
_
2,570,457
10,025,435
9,902,567|
|---|---|---|
The figures stated above for cost or valuation includes a valuation as follows:
||**Freehold land, buildings**|**and exhibits**|
|---|---|---|
||**2022**|**2021**|
||£|£|
|At 1997 valuation|10,246,230|10,246,230|
|At cost 1 April 2021|858,702|729,379|
|Additions in the year|190,297|129,323|
|Disposal at cost in year|(86,002)|-|
||11,209,227|11,104,932|
During 1997 freehold land, buildings and exhibits were revalued by Mr G P S Drye, M.Sc., FRICS. The basis of the valuation used was open market value. This valuation was frozen and treated as the historical cost value in accordance with the accounting standards at that time.
30
DocuSign Envelope ID: 594791C7-37D5-45FD-8330-0F91F2EDCDB5
## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
## **Notes to the financial statements for the year ended 31 March 2022**
## **7. Tangible fixed assets** (continued)
|**Freehold**
**The charity**
**land,**
**Implements**
**buildings**
**and**
**Motor**
**and exhibits**
**equipment**
**vehicles**
£
£
£
**Cost or valuation**
At 1 April 2021
9,364,116
88,457 28,574
Additions
190,297
12,279
6,602
Disposals
(86,002)
-
(9,969)
At 31 March 2022
9,468,411
100,736
25,207
**Depreciation**
At 1 April 2021
1,452,199
53,171
6,927
Provided in the year
167,311
10,743
6,788
Released on disposal
(86,002)
-
(9,969)
At 31 March 2022
1,533,508
63,914
3,746
**Net book value**
At 31 March 2022
7,934,903
36,822
21,461
At 31 March 2021
7,911,917
35,286
21,647|**Total**
£
9,481,147
209,178
(95,971)
9,594,354
1,512,297
184,842
(95,971)
1,601,168
7,993,186
7,968,850|
|---|---|
No provision has been made for depreciation of land, buildings and exhibits valued in 1997 as explained in the accounting policies.
The figures stated above for cost or valuation includes a valuation as follows:
||**Freehold land, buildings**|**and exhibits**|
|---|---|---|
||**2022**|**2021**|
||£|£|
|At 1997 valuation|7,311,230|7,311,230|
|At cost 1 April 2021|2,052,886|1,923,563|
|Additions in the year|190,297|129,323|
|Disposal at cost in year|(86,002)|-|
||9,468,411|9,364,116|
During 1997 freehold land, buildings and exhibits were revalued by Mr G P S Drye, M.Sc., FRICS. The basis of the valuation used was open market value. This valuation was frozen and treated as the historical cost value in accordance with the accounting standards at that time.
The trustees consider that the net book value of all of the group and the charity’s tangible fixed assets are used for direct charitable purposes, with the value attributable to other purposes not being material.
31
DocuSign Envelope ID: 594791C7-37D5-45FD-8330-0F91F2EDCDB5
## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
## **Notes to the financial statements for the year ended 31 March 2022**
## **8. Fixed asset investments**
|**The Group**
Value at 1 April 2021
Additions in the year at cost
Disposal proceeds
Unrealised gains/(losses)
Realised gains
Movement in cash awaiting investment
Revaluation
Market value at 31 March 2022
**The Charity**
Value at 1 April 2021
Additions in the year at cost
Disposal proceeds
Unrealised gains/(losses)
Realised gains
Movement in cash awaiting investment
Revaluation
Market value at 31 March 2022|**Shares in**
**subsidiary**
**undertakings**
7
-
-
-
-
-
-|**Investment**
**Properties**
**£**
**Listed**
**Investments**
**£**
**Total**
**£**
13,114,504
5,279,770
18,394,274
-
337,360
337,360
-
(267,301)
(267,301)
-
256,234
256,234
-
55,071
55,071
-
6,331
6,331
2,970,673
-
2,970,673
16,085,177
5,667,465
21,752,642|
|---|---|---|
|||**Investment**
**Properties**
**£**
**Listed**
**Investments**
**£**
**Total**
**£**
23,979,004
5,279,770
29,258,781
-
337,360
337,360
-
(267,301)
(267,301)
-
256,234
256,234
-
55,071
55,071
-
6,331
6,331
5,003,953
-
5,003,953
28,982,957
5,667,465
34,650,429|
||7||
Shares in subsidiary undertakings are stated at cost. Investment properties and listed investments are stated at market value at 31 March 2022.
## **Shares in subsidiary undertakings**
At 31 March 2022, the charity held the entire ordinary share capital of the following companies:
|**Subsidiary undertaking**|**Country of incorporation**|**Nature of business**|
|---|---|---|
|Lamport Farms Limited|England and Wales|Farming|
|Lamport Enterprises Limited|England and Wales|Commercial activities of the Hall|
Investments in group undertakings have been included at cost as the trustees consider that it would not be practical to carry out a valuation of these undertakings. In addition, any valuation attributed to these investments would not be significant in the context of the charity’s net assets at 31 March 2022.
32
DocuSign Envelope ID: 594791C7-37D5-45FD-8330-0F91F2EDCDB5
## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
## **Notes to the financial statements for the year ended 31 March 2022**
## **8. Fixed asset investments** (continued)
## **Investment properties**
The investment properties include cottages, farm land and commercial properties that are held as part of the endowment estate. The farm land is included as an investment property in the financial statements of the charity but is included as an operational fixed asset in the group due to being occupied by the Lamport Farms Limited subsidiary.
These investment properties were revalued by Mr J Stables, BSc, MRICS, FAAV as at 31 March 2022. The basis of the valuation used was open market value.
If the investment properties had not been revalued, they would have been included on the historical cost basis at the following amounts:
|basis at the following amounts:||
|---|---|
||**Investment properties**|
|**Cost**|£|
|As at 1 April 2021 and 31 March 2022|5,479,193|
As at the date of approving these accounts the Trustees are of the opinion that the investment value is not materially different from the March 2022 valuation.
If listed investments had not been revalued, they would have been included on the historical cost basis at the following amounts:
|he following amounts:||
|---|---|
||**The group and the charity**|
||**Listed investments**|
|**Cost**|£|
|At 1 April 2021|3,791,735|
|Additions in the year|337,360|
|Disposals in the year|(148,659)
|
|At 31 March 2022|3,980,436|
33
DocuSign Envelope ID: 594791C7-37D5-45FD-8330-0F91F2EDCDB5
## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
## **Notes to the financial statements for the year ended 31 March 2022**
|**9. Stock**
Consumable goods for resale
Live and dead stock, growing crops and cultivations and stores
**10. Debtors**
**The group**
**2022**
**2021**
£
£
Trade debtors
358,695
61,406
Amounts owed by group
undertakings
-
-
VAT
38,149
16,819
Prepayments and accrued income
2,943
-
______
______
399,787
78,225
**11. Creditors: amounts falling due within one year**
**The group**
**2022**
**2021**
£
£
Trade creditors
88,198
68,051
Social security and other taxes
738
2,866
Accruals
35,121
32,863
_______
_______
124,057
103,780|**The group**
**2022**
**2021**
£
£
7,948
7,948
235,124
205,611
243,072
213,559
**The charity**
**2022**
**2021**
£
£
240,865
47,549
478,949
209,948
6,759
6,490
2,943
-
_______
_______
729,516
263,987
**The charity**
**2022**
**2021**
£
£
50,249
49,119
-
2,184
29,271
25,704
_______
_______
79,520
77,007|
|---|---|
|||
34
DocuSign Envelope ID: 594791C7-37D5-45FD-8330-0F91F2EDCDB5
## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
## **Notes to the financial statements for the year ended 31 March 2022**
## **12. Funds**
## **Group**
|**Restricted funds**
Endowment Estate fund
Preservation Trust fund
Bursary fund
Total Preservation Trust fund
Lamport Church
**Total restricted funds**
**Unrestricted funds**
Non-charitable trading funds
**Total unrestricted funds**
**Company**
**Restricted funds**
Endowment Estate fund
Preservation Trust fund
- Bursary fund
Total Preservation Trust fund
Lamport Church|**Balance at 1**
**April**
**2021**
**£**
**Incoming**
**Resources**
**£**
**Resources**
**Expended**
**£**
**Gains,**
**Losses**
**and**
**Transfers**
**£**
**Balance at**
**31 March**
**2022**
**£**
24,869,567
488,999
(210,433)
3,347,196
28,495,329
4,109,021
67,221
(584,319)
164,002
3,755,925
60,197
-
(10,000)
-
50,197|
|---|---|
||4,169,218
67,221
(594,319)
164,002
3,806,122
18,741
-
-
-
18,741|
||29,057,526
556,220
(804,752)
3,511,198
32,320,192|
||234,327
867,876
(554,806)
(229,220)
318,177|
||234,327
867,876
(554,806)
(229,220)
318,177|
|||
||29,291,853
1,424,096
(1,359,558)
3,281,978
32,638,369|
||**Balance at 1**
**April**
**2021**
**£**
**Incoming**
**Resources**
**£**
**Resources**
**Expended**
**£**
**Gains,**
**Losses**
**and**
**Transfers**
**£**
**Balance at**
**31 March**
**2022**
**£**
33,418,982
620,830
(279,215)
5,315,258
39,075,855
4,683,288
229,802
(584,319)
-
4,328,771
60,197
-
(10,000)
-
50,197|
||4,743,485
229,802
(594,319)
-
4,378,968
18,741
-
-
-
18,741|
||38,181,208
850,632
(873,534)
5,315,258
43,473,564|
The Endowment Estate fund was established on 14 November 1985 as an expendable endowment fund in accordance with the Will of Sir Gyles Isham.
The Preservation Trust fund was established on 14 November 1985 as a restricted fund in accordance with the Will of Sir Gyles Isham.
Within the Preservation Trust fund, the Trustees have established a specific Bursary fund. This Bursary fund is to be used in accordance with the articles of the Charity, “to found, create, maintain and offer scholarships, exhibitions, prizes and rewards for educational purposes and in particular for purposes connected with historic or aesthetic education”.
As part of the arrangements to realise funds from asset sales the Trustees agreed to establish a restricted fund for Lamport Church in order that the income arising may be applied to the fabric of the church.
The non-charitable trading funds represent the funds of the group’s subsidiary undertakings Lamport Enterprises Limited and Lamport Farms Limited.
35
DocuSign Envelope ID: 594791C7-37D5-45FD-8330-0F91F2EDCDB5
## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
## **Notes to the financial statements for the year ended 31 March 2022**
## **13. Analysis of group net assets between funds**
|**Unrestricted**
**Lamport**
**Endowment**
**Preservation**
**funds**
**Church**
**Estate fund**
**Trust fund**
£
£
£
£
Fund balances at 31 March 2022
are represented by:
Tangible fixed assets
291,434
-
2,104,607
7,629,394
Fixed asset investments
-
-
21,752,642
-
Current assets
726,008
18,741
135,619
103,981
Current liabilities
(71,975)
-
(28,537)
(23,545)
Intra-fund indebtedness
(627,290)
-
4,530,998
(3,903,708)
_______
______
________
________
**Total net assets**
**at 31 March 2022**
318,177
18,741
28,495,329
3,806,122
**Unrestricted**
**Lamport**
**Endowment**
**Preservation**
**funds**
**Church**
**Estate fund**
**Trust fund**
£
£
£
£
Fund balances at 31 March 2021
are represented by:
Tangible fixed assets
192,903
-
2,031,451
7,678,213
Fixed asset investments
-
-
18,394,274
-
Current assets
289,943
18,741
522,902
267,206
Current liabilities
(57,085)
-
(24,386)
(22,309)
Intra-fund indebtedness
(191,434)
-
3,945,326
(3,753,892)
_______
______
________
________
**Total net assets**
**at 31 March 2021**
234,327
18,741
24,869,567
4,169,218|**Total**
**funds**
£
10,025,435
21,752,642
984,349
(124,057)
-
_________
32,638,369
**Total**
**funds**
£
9,902,567
18,394,274
1,098,792
(103,780)
-
_________
29,291,853|
|---|---|
## **14. Capital commitments**
The group had capital commitments authorised and contracted for at 31 March 2022 of £nil (31 March 2021: £nil).
## **15. Contingent liabilities**
There were no contingent liabilities at 31 March 2022 or 31 March 2021.
## **16. Pensions**
The charity operates a defined contribution pension scheme for the benefit of the senior employees. The assets of the scheme are administered by trustees in a fund independent from those of the charity.
## **17. Constitution**
The trust is a registered charity and is a company limited by guarantee with no share capital.
36
DocuSign Envelope ID: 594791C7-37D5-45FD-8330-0F91F2EDCDB5
## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
## **Notes to the financial statements for the year ended 31 March 2022**
## **18. Related party transactions**
The following transactions took place with the charity’s wholly owned subsidiaries:
## Lamport Farms Limited
Rent received - £130,000 (2021: £130,000) Service charge received - £1,250 (2021: £1,250) Interest received - £4,000 (2021: £4,000) Gift aid received - £64,661 (2021: £107,317)
## Lamport Enterprises Limited
Rent received - £24,000 (2021: £500) Service charge received - £3,528 (2021: £13,228) Gift aid received - £188 (2021: £74,447)
The balance due from wholly owned subsidiaries is disclosed in note 10.
## **19. Reconciliation of net movement in funds to net cash flow from operating activities**
|**2022**
£
Net movement in funds
3,346,516
Investment income
(569,760)
(Gains)/losses on investments
(3,281,978)
Depreciation
265,016
(Loss)/profit on disposal of fixed assets
-
Decrease/(increase) in stock
(29,513)
Decrease/(increase) in debtors
(321,562)
(Decrease)/increase in creditors
20,277
(571,004)
**Cash flows from investing activities**
**2022**
£
Investment income
569,760
Purchase of listed investments
(337,360)
Disposal proceeds from listed investments
267,301
Movement in cash awaiting investment
(6,331)
Purchase of tangible fixed assets
(387,884)
Receipt from sale of fixed assets
-
105,486|**2021**
£
1,306,901
(474,064)
(1,172,332)
140,724
1,431
48,682
770
(13,730)
(161,618)
**2021**
£
474,064
(583,261)
351,397
90,299
(216,296)
-
116,203|
|---|---|
## **20. Cash flows from investing activities**
37
DocuSign Envelope ID: 594791C7-37D5-45FD-8330-0F91F2EDCDB5
## **LAMPORT HALL PRESERVATION TRUST LIMITED AND ITS SUBSIDIARY UNDERTAKINGS**
**Management information**
**Year ended 31 March 2022**
**The following pages do not form part of the statutory financial statements**
DocuSign Envelope ID: 594791C7-37D5-45FD-8330-0F91F2EDCDB5
## **LAMPORT HALL PRESERVATION TRUST LIMITED**
**Income and expenditure account for the year ended 31 March 2022**
||**Lamport**|**Endowment**|**Preservation**|**Total**|**Total**|
|---|---|---|---|---|---|
||**Church**|**Estate fund**|**Trust fund**|**2022**|**2021**|
|**Income and expenditure**|£|£|£|£|£|
|**Incoming resources**||||||
|Rents received|-|
505,379|67,036|572,415|492,231|
|Concert admission|-|
-|-|-|75|
|House showing|-|
-|4,564|4,564|548|
|Service charges|-|
-|73,560|73,560|84,141|
|Investment income|-|
115,417|39|115,456|104,143|
|Gift aid|-|
-|64,849|64,849|181,803|
|Donations and grants|-|
-|685|685|-|
|Sundry income|-|
2,198|18,897|21,095|77,997|
||______|
_______|_______|_______|_______|
|**Total incoming resources**|-|
622,994|229,630|852,624|940,938|
||______|
_______|_______|_______|_______|
|**Resources expended**||||||
|Direct charitable expenditure||||||
|Staff costs|-|
-|261,339|261,339|271,131|
|Depreciation|-|
117,143|67,699|184,842|97,800|
|Repairs and renewals|-|
27,614|58,506|86,120|61,748|
|Other|-|
9,810|186,658|196,468|129,131|
||______|
_______|_______|_______|_______|
||-|
154,567|574,202|728,769|559,810|
||______|
_______|_______|_______|_______|
|Investment management fees|-|
34,907|-|34,907|30,579|
|Management and administration|-|
91,904|19,946|111,850|100,242|
||______|
_______|_______|_______|_______|
||-|
126,811|19,946|146,757|130,821|
||______|
_______|_______|_______|_______|
|**Total resources expended**|-|
281,378|594,148|875,526|690,631|
||______|
_______|_______|_______|_______|
|**Net (outgoing)/incoming resources**||||||
|**before other recognised losses**|-|
341,616|(364,518)|(22,902)|250,307|
|**Other recognised losses**||||||
|Net gains/(losses) on investment||||||
|assets|-|5,315,258|-|5,315,258|1,482,832|
||______|
_______|_______|_______|_______|
|**Net movements in funds**|**-**|5,656,874|(364,518)|5,292,356|1,733,139|
|Fund balances brought forward||||||
|At 1 April 2021|18,741|33,418,982|4,743,485|38,181,208|36,448,069|
||______|________|________|_________|_________|
|**Fund balances carried forward**||||||
|**at 31 March 2022**|18,741|39,075,856|4,378,967|43,473,564|38,181,208|