## **LIEBENROOD CHARITABLE TRUST**
## **FINANCIAL STATEMENTS**
## **5 APRIL 2023**
## **Contents**
Page
1. Administrative Information 2. Trustees' report 3. Independent Examiner's Report 4. Statement of Financial Activities 5. Balance Sheet
6. - 8. Notes to the Financial Statements
## **FLETCHER & PARTNERS**
## **CHARTERED ACCOUNTANTS**
**SALISBURY**
Page 1
## **LIEBENROOD CHARITABLE TRUST**
## **ADMINISTRATIVE INFORMATION**
## TRUSTEES
Mr Colin Liebenrood Mrs Anne Liebenrood Mr Mark Liebenrood Mr James Fletcher
## CHARITY ADDRESS
Crown Chambers Bridge Street Salisbury SP1 2LZ
## ADVISERS
## **Independent Examiner**
Andrew Radice Chartered Accountant
## **Bankers**
Cater Allen
## **Investment Managers**
Rathbone Investment Management Limited
## REGISTERED NUMBER
270322
Page 2
## **LIEBENROOD CHARITABLE TRUST**
## **TRUSTEES' REPORT**
## **FOR THE YEAR ENDED 5 APRIL 2023**
The Trustees present their Annual Report and Accounts for the year ended 5 April 2023, which have been prepared in accordance with the charity's trust deed, 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 (FRS102).
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The charity was established by trust deed dated 18 January 1974 by Mr C.J.F. Liebenrood and is registered with the Charity Commission, No, 270322. Under clause 14 of the Trust Deed trustees are appointed by the Founder, Colin Liebenrood.
The trustees have reviewed the main risks to which the charity is exposed and confirm that systems have been established to mitigate those risks.
## **PUBLIC BENEFIT**
The trustees confirm that they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers or duties.
## **OBJECTIVES AND ACTIVITIES**
The object of the trust is to distribute its income to such charities or for such charitable purposes as the trustees decide.
## **ACHIEVEMENTS AND PERFORMANCE**
During the year the charity made donations to sixteen charities totalling £29,000.
## **FINANCIAL REVIEW**
The trust's total income amounted to £80,994 which consisted of investment income of £35,994 and donations of £36,000 plus gift aid £9,000. It donated £29,000 to other charities.
Governance and investment management costs amounted to £12,309. The trust's investments realised losses of £10,975 and unrealised losses of £151,864 so that overall the net assets decreased by £123,154 to £1,979,868 (2022: £2,103,022).
## **INVESTMENT POLICY**
The Trustees seek to ensure compliance with the provisions of the Trustee Act 2000 and have appointed Rathbone Investment Management Limited to manage the investment portfolio, with the aim of applying criteria for socially responsible investment, to invest at a medium level of risk, to maximise total returns and to maintain the charity's capital.
## **RESERVES POLICY**
The Trustees aim to maintain a level of reserves that will produce an annual income sufficient to cover the grant applications and management and administration costs.
## **PLANS FOR FUTURE PERIODS**
The Trustees plan to continue to make donations to other charities at around the same monetary level.
Signed on behalf of the Trustees
.................................................. Trustee Approved by the Trustees on 25 June 2023 .................................................. Date
Page 3
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LIEBENROOD CHARITABLE TRUST**
I report to the trustees on my examination of the accounts of the Liebenrood Charitable Trust (the Trust) for the year ended 5 April 2023, which are set out on pages 4 to 8.
## **Responsibilities and basis of report**
As the charity trustees of the Trust 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 Trustees’ accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
(1) accounting records were not kept in respect of the Trust 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.
Signed: Andrew Radice
Name: A J Radice FCA
Address: Guelder Cottage, Hanging Langford, Salisbury, SP3 4NW
24 January 2024
Date: ...................................
Page 4
## **LIEBENROOD CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023**
|Notes
INCOME FROM:
Donations
Investments
2
Total Income
EXPENDITURE ON:
Raising funds:
Investment management costs
Charitable activities
3
Total Expenditure
NET INCOME/(EXPENDITURE) BEFORE
INVESTMENT GAINS/LOSSES
OTHER RECOGNISED GAINS AND LOSSES
Realised gains/(losses) on disposal
Unrealised gains/(losses)
NET MOVEMENT IN FUNDS
Total funds brought forward
Total funds carried forward|Income
Fund
-
35,994
35,994
-
31,038
31,038
4,956
-
-
4,956
29,732
£34,688|Capital
Fund
45,000
-
45,000
10,271
-
10,271
34,729
(10,975)
(151,864)
(128,109)
2,073,290
£1,945,181|Total
2023
45,000
35,994
80,994
10,271
31,038
41,309
39,685
(10,975)
(151,864)
(123,154)
2,103,022
£1,979,868|Total
2022|
|---|---|---|---|---|
|||||38,750
30,575|
|||||69,325|
|||||10,781
27,840|
|||||38,621|
|||||30,704
13,183
99,681|
|||||143,568
1,959,454|
|||||£2,103,022|
The notes on pages 6 to 8 form part of these accounts
Page 5
## **LIEBENROOD CHARITABLE TRUST**
## **BALANCE SHEET**
## **AS AT 5 APRIL 2023**
|Notes
**FIXED ASSETS**
Investments
5
**CURRENT ASSETS**
Debtors
6
Cash at bank and in hand
**LIABILITIES**
Creditors falling due within one year
7
NET CURRENT ASSETS
TOTAL NET ASSETS
Representing :
**THE FUNDS OF THE CHARITY (UNRESTRICTED)**
Income Fund
Capital Fund
TOTAL CHARITY FUNDS|2023
1,893,292
9,000
82,350
91,350
4,774
86,576
£1,979,868
34,688
1,945,181
£1,979,868|2,028,806
7,750
71,126
78,876
4,660
74,216
£2,103,022
29,732
2,073,290
£2,103,022
2022|2,028,806
7,750
71,126
78,876
4,660
74,216
£2,103,022
29,732
2,073,290
£2,103,022
2022|
|---|---|---|---|
||||£2,103,022|
||||29,732
2,073,290|
||||£2,103,022|
Signed on behalf of the Trustees
................................................................. Trustee Approved by the Trustees 25 June 2023 ................................................................. Date
The notes on pages 6 to 8 form part of these accounts
Page 6
## **LIEBENROOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023**
## **1. ACCOUNTING POLICIES**
## **a. Basis of accounting**
The financial statements are prepared in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard (FRS102) and the Charities Act 2011 and applicable regulations. These financial statements are drawn up on the historical cost accounting basis except that investment assets are carried at market value.
The charity meets the definition of a public benefit entity under FRS 102.
The trustees consider that there are no material uncertainties about the Trust's ability to continue as a going concern.
## **b. Fund structure**
Under the deed of trust by which the charity is constituted, income and capital have to be distinguished. The trustees' power to accumulate income ended on 18 January 1995. The trust deed also gives the trustees the power (but not the duty) to distribute capital, which therefore does not form permanent endowment.
## **c. Income**
Income is accounted for in the period in which the charity is entitled to the income, it is probable that the income will be received and the amount of income can be measured reliably. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
## **d. Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is included on an accruals basis. Grants and donations are included in the statement of financial activities in the period in which they became payable.
## **e. Investments**
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.
## **f. Debtors**
Debtors are measured at the amounts the charity anticipates it will receive from a debt or the amount it has paid in advance for goods or services.
## **g. Cash at bank and in hand**
Cash at bank and in hand includes cash and cash on deposit.
## **h. Creditors**
Creditors are measured at the amounts the charity anticipates it will pay to settle a debt or the amount it has received as an advance payment for goods or services it must provide.
## **i. Financial Instruments**
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. They are initially recognised at transaction value and subsequently measured at their settlement value.
|**ESTMENT INCOME**
Dividends from UK equities and unit trusts
Property income distributions
Interest on UK equities and unit trusts
Deposit interest
Dividends from overseas equities
Overseas fixed interest
Reportable income on offshore funds|2023
18,343
3,117
9,324
657
2,123
1,645
785
£35,994|2022
16,266
2,576
7,114
-
2,502
1,531
586|2022|
|---|---|---|---|
|||£30,575||
## **2. INVESTMENT INCOME**
Page 7
## **LIEBENROOD CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 5 APRIL 2023**
|**3.**
**CHARITABLE EXPENDITURE**
**Grantmaking**
Medical charities
Bowel Disease Research Foundation
Lambeth & Southwark Mind
Marie Curie Cancer Care
Motor Neurone Disease
Salisbury Hospicecare Trust Ltd
Thrive (Society for Horticultural Therapy)
Versus Arthritis
Relief of Poverty/Welfare
Childrens Chance
The Children's Society
Karuna Trust
Save the Children
Shelter
Trussell Trust
Environmental charities
Campaign for Better Transport Charitable Trust
Friends of the Earth
Animal Welfare
Cats Protection League
PDSA
**Governance costs (Note 4)**
**4.**
**GOVERNANCE**
Accountancy
Independent Examination|2023
500
-
2,000
2,000
1,000
1,000
3,000
1,000
2,000
2,000
2,000
5,000
2,500
1,000
1,500
1,000
1,500
2,038
£31,038
2023
1,788
250
£2,038|2022
500
1,000
2,000
1,250
1,000
500
2,500
1,000
1,500
2,000
2,000
5,000
1,500
1,000
1,500
750
1,000
1,840|2022|
|---|---|---|---|
|||£27,840||
|||2022
1,590
250|2022|
|||£1,840||
The accountancy fees are payable to Fletcher & Partners, Chartered Accountants, a firm in which Mr J Fletcher is a partner, under authority provided by Clause 8 of the Trust Deed.
Page 8
## **LIEBENROOD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 5 APRIL 2023**
## **5. FIXED ASSET INVESTMENTS**
|Market value at 6 April 2022
Additions at cost
Disposals at opening value
Unrealised gains/(losses)
Decrease in cash held by investment manager
Market value at 5 April 2023
Investments at market value comprise:
Investment assets in the UK
Investment assets outside the UK
Cash held by investment manager
Historical cost at 5 April 2023
**6.**
**DEBTORS**
Income tax recoverable
**7.**
**CREDITORS: Amounts due within one year**
Accruals
Accountants fees
Independent examination fee
Stockbrokers management fee|Listed
investments
2,028,806
256,098
(195,590)
(151,864)
(44,158)
£1,893,292
1,441,744
418,653
32,895
£1,893,292
£1,386,107
2023
£9,000
2023
1,674
500
2,600
£4,774|2022
£7,750|2022|
|---|---|---|---|
|||2022
1,560
500
2,600|2022|
|||£4,660||