REGISTERED CHARITY NUMBER: 285524
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
FOR
LAMBOURN CHURCH OF ENGLAND SCHOOL HOUSE TRUST
RML Taylor FCCA
1 Carnegie Road Newbury Berkshire RG14 5D]
LAMBOURN CHURCH OF ENGLAND SCHOOL HOUSE TRUST
CONTENTS OF THE FINANCIAL STATEMENTS For The Year Ended 31 December 2022
| Page | |||
|---|---|---|---|
| Reportof the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statementof Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | il |
LAMBOURN CHURCH OF ENGLAND SCHOOL HOUSE TRUST
REPORT OF THE TRUSTEES
For The Year Ended 31 December 2022
The trustees present their report with the financial statements of the charity for the year ended
31 December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective i January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
Lambourn Church of England School House Trust is an unincorporated charity established by a Deed of Trust, whose purposeis 'the advancementof the education of children in the parish of Lambourn'.
The Trust aims to fund grants and donations each year with the total value determined by investment returns and the availability and eligibility of projects/activities to fund.
The trustees apply the funds at their discretion and in accordance with the charitable purposes and object
of the charity, Any decision whether to award a grant or donation remains solely the responsibility of the trustees,
Public benefit
The focus of the trust is on supporting projects and activities that are outside the core education provision and that are beneficial in meeting the specific needs of the children in the parish.
The Charity's Trustees have had due regard to the Charity Commission's guidance on Public Benefit.
ACHIEVEMENT AND PERFORMANCE
Achievements and Performance
In 2022 the trust increased the value of grant/donation spend by 35%. In addition to the grant to the
local school towards the lease of two minibuses, additional grants were made to the school for storage
and equipment for the nursery building and for out of school music and drama-based activity. The trust also provided funding for 74 pre-school children in the Lambourn postcode area to receive 1 reading book per[month] from the Imagination Library Scheme. The Brownies, Guides, Lambourn Lambs and the Children Craft Workshopsat the library also received donations,
FINANCIAL REVIEW
Financial position
The Trust does not carry out any fund-raising activities. It funds its grant-making activities with income derived from a tangible asset in the form of a residential property which provided a modest annual income and assets held in investment funds at the lower end ofthe risk spectrum.
Reserves policy
The Trust holds a proportion of funds in readily accessible accounts to ensure it can meet its annual obligations for grants and make provision for the maintenance ofthe residential property,
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
The appointment of Trustees is governed by the Deed of Trust ofthe Charity. They are subject to being 3
in number. Each serve a 4 year term. The Trustees are specified in the Deed of Trustto be:
~ The Vicar of the Parish of Lambourn.
- Appointed by the Parochial Church Council of the Parish of Lambourn.
~ Appointed by Excalibur Academies Trust and be from the Parish of Lambourn,
Organisational structure
The Charity was established on 1 August 1982 and is administered by the Trustees. All decisions are made by the Trustees having taken appropriate third party advice where deemed necessary.
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LAMBOURN CHURCH OF ENGLAND SCHOOL HOUSE TRUST
REPORT OF THE TRUSTEES
For The Year Ended 31 December 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
The Trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure that appropriate controls are in place to provide reasonable assurance against fraud and error. A Grants and Donations Policy sets out the criteria for awarding grants. Payment of the grant is made retrospectively upon receipt of evidence that the activity or project has taken place in accordance with the grant's terms.
The Trust has an Investment Policy and the Trustees review the investments on a regular basis with the assistance of professional advisors. This ensures that any relevant risks are identified and monitored and managedin the appropriate manner.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number 285524
Principal address 13A Oxford Street Lambourn Hungerford Berkshire RG17 8xS
Trustees N Hastle C Harris Rev J Mintern
Independent Examiner RML. Taylor FCCA i Carnegie Road Newbury Berkshire ApprovedRG14 5D) by order of the board of trustees on ...0....../.4:4,[Lam] , Z(AS creates and signed on its behalf by:
N Hastle - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LAMBOURN CHURCH OF ENGLAND SCHOOL HOUSE TRUST
Independent examiner's report to the trustees of Lambourn Church of England School House Trust
IT report to the charity trustees on my examination of the accounts of Lambourn Church of England School House Trust (the Trust) for the year ended 31 December 2022.
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 Trust's accounts carried out under Section 145 of the Act and
in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have compieted my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of 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,
T 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.
Puta!
RML Taylor FCCA
1 Carnegie Road Newbury Berkshire RG14 SDJ
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LAMBOURN CHURCH OF ENGLAND SCHOOL HOUSE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
For The Year Ended 31 December 2022
| 2022 | 2021 | |||
|---|---|---|---|---|
| Unrestricted | Total | |||
| fund | funds | |||
| Notes | £ | |||
| INCOME AND ENDOWMENTS |
FROM | |||
| Donations and legacies | 191 | 1,269 | ||
| Investment income | 2 | 43,885 | 40,569 | |
| Total | 44,076 | 41,838 | ||
| EXPENDITURE ON | ||||
| Charitable activities | ||||
| Charitable expenditure | ||||
| 23,183 | 19,170 | |||
| Net gains/(iosses) on investments | (83,626) | 142,066 | ||
| NET INCOME/(EXPENDITURE) | (62,733) | 164,734 | ||
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 1,770,492 | 1,605,758 | ||
| TOTAL FUNDS CARRIED FORWARD | 1,707,759 | 1,770,492 |
The notes form part of these financial statements
Page 4
LAMBOURN CHURCH OF ENGLAND SCHOOL HOUSE TRUST
BALANCE SHEET
31 December 2022
| 2022 | 2021 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Investments | |||
| Investments Investment property |
8 9 |
1,001,531 525,000 |
1,135,157 475,000 |
| 1,526,531 | 1,610,157 | ||
| CURRENT ASSETS | |||
| Debtors | 10 | 103 | 81 |
| Cash at bank | 182,248 | 162,053 | |
| 182,351 | 162,134 | ||
| CREDITORS | |||
| Amountsfailing due within one year | il | (1,123) | (1,799) |
| NET CURRENT ASSETS | 181,228 | 160,335 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 1,707,759 | 1,770,492 | |
| NET ASSETS | 1,707,759 | 1,770,492 | |
| FUNDS | 12 | ||
| Unrestricted funds | 1,707,759 | 1,770,492 | |
| TOTAL FUNDS | 1,707,759 | 1,770,492 |
7 Theaa[veee] a financialeeeeensaaetenateseeesseeeempenaeneaeestatements were andapprovedwere signedby theonitsBoardbehalfofby:Trustees and authorised for issue on
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The notes form part of these financial statements
Page[5]
LAMBOURN CHURCH OF ENGLAND SCHOOL HOUSE TRUST
NOTES TO THE FINANCIAL STATEMENTS For The Year Ended 31 December 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable[in] the UK and Republic of Ireland’ and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Overall risk to operations
In common with many other Charities, the outbreak of COVID-19 in the UK and the measures being taken to control its spread, have had an impact on our activities. The impact is not considered to have been significant and the Charity has still managed to remain in surplus.
Following the year end, there have been no substantial developments that would affect the Charity's ability to remain in surplus. The Charity has therefor determined that there are no post balance sheet events and accordingly, the financial position as at, and results of the operations for, the year ended 31 December 2022 have not been adjusted to reflect their impact.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds,it is probable that the income will be received and the amount can be measured reliably,
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 a transfer of economic benefits will
be required in settlement and the amount of the obligation can be measured reliably. Expenditure
is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have[been] allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Charitable activities
Grant and Donations:
The Trustees apply the funds of the School House Trust at their discretion and in accordance with the charitable purposes and objects of the Charity.
The number and value of grants is necessarily limited to the amount of funds that are available for distribution each year, The trustees have determined that the current priorities for funding grants are:
~ Facilitating extra-curricular activities for children aged 5-11 in areas of arts, sport and culture.
Encouraging pre-school children to attain basic skills in literacy and speaking and listening.
Enabling children to achieve their full potential in literacy.
The trustees will only consider applications for grants from organisations, not individuals, within the Parish of Lambourn.
Applications for grants received not in-keeping with the priorities for support will only be considered under exceptional circumstances.
The trustees will allocate a portion of the fund each year for small donations of up to £500.
Investments
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changesin fair value is recognised in the Statement of Financial Activities.
The overall investment objective is to produce the best financial return with an acceptable level of risk.
continued...
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LAMBOURN CHURCH OF ENGLAND SCHOOL HOUSE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 December 2022
1. ACCOUNTING POLICIES - continued
Investments
Long-term funds:
Are used to generate a fairly high level of income while minimising the risk of capital losses, The income and capital gainswill aid in protecting the Charity's capital from the impact of inflation.
The charity uses the Consumer Price Index (CPI) as an inflation measure and the target return Investmentis inflation plus 5%.
on
Short-term funds:
The Charity will use short term investments with a minimum A-credit rating, to achieve a competitive rate of interest on cash balances, with the main aim being to have readily accessible funds in the case of unexpected expenditure or low value capital projects.
Ethical Policy:
The Charity expects funds to be invest and managed in accordance with the Church of England's
Ethical Investment Advisory Group and the UK Stewardship code.
Taxation
The charity is exempt from tax on its charitable activities,
Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees,
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements,
INVESTMENT INCOME
| INVESTMENT INCOME | |||
|---|---|---|---|
| 2022 | 2021 | ||
| £ | £ | ||
| Rents received Investment income Deposit accountinterest |
11,862 32,009 14 |
11,688 28,881 - |
|
| 43,885 | 40,569 | ||
| 3. | GRANTS PAYABLE | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Charitable expenditure | |||
| 21,584 | 16,020 | ||
| The total grants paid to organisations during the year wasas follows: | |||
| 2022 | 2021 | ||
| £ | £ | ||
| Lambourn Church of England Primary School Otherinstitutions |
15,811 5,772 |
16,020 - |
|
| 21,584 | 16,020 |
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continued...
LAMBOURN CHURCH OF ENGLAND SCHOOL HOUSE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 December 2022
4 INDEPENDENT EXAMINERS’ REMUNERATION
| 2022 | 2021 | |||||||
|---|---|---|---|---|---|---|---|---|
| £ | £ | |||||||
| Independent Independent |
examiners' examiners' |
remuneration remuneration |
- | Non | Independent | examination | 607 (204) |
372 1,428 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021,
6. STAFF COSTS
The Trust did not employ any staff in the current or the preceding year,
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | ||
|---|---|---|
| fund | ||
| E | ||
| INCOME AND ENDOWMENTS FROM |
||
| Donations and legacies | 1,269 | |
| Investment income | 40,569 | |
| Total | 41,838 | |
| EXPENDITURE ON | ||
| Charitable activities | ||
| Charitable expenditure | ||
| 19,170 | ||
| Net gains on investments | 142,066 | |
| NET INCOME | 164,734 | |
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | 1,605,758 | |
| TOTAL FUNDS CARRIED | FORWARD | 1,770,492 |
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continued...
LAMBOURN CHURCH OF ENGLAND SCHOOL HOUSE TRUST
NOTESFor TheTOYearTHEEndedFINANCIAL31 DecemberSTATEMENTS2022continued
8. FIXED ASSET INVESTMENTS
| OL HOUSE TRUST S TO THE FINANCIAL STATEMENTS- continued he Year Ended 31 December 2022 FIXED ASSET INVESTMENTS |
|
|---|---|
| Listed | |
| investments | |
| £ | |
| MARKET VALUE | |
| At 1 January 2022 Revaluations |
1,135,157 (133,626) |
| At 31 December 2022 | 1,001,531 |
| NET BOOK VALUE | |
| At 31 December 2022 | 1,001,531 |
| At 31 December 2021 | 1,135,157 |
There were no investment assets outside the UK.
Cost or valuation at 31 December 2022 is represented by:
| Cost or valuation at 31 December 2022is represented by: | |
|---|---|
| Listed | |
| investments | |
| E | |
| Valuation in 2020 Valuation in 2021 Valuation in 2022 Cost |
93,091 142,066 (133,626) 900,000 |
| 1,001,531 | |
| INVESTMENT PROPERTY | |
| £ | |
| FAIR VALUE | |
| At 1 January 2022 Revaluation |
475,000 50,000 |
| At 31 December 2022 | 525,000 |
| NET BOOK VALUE | |
| At 31 December 2022 | 525,000 |
| At 31 December 2021 | 475,000 |
| Fair value at December 2021 is represented by: Valuation in 1998 Valuation in 2007 Valuation in 2014 Valuation in 2017 Valuation in 2020 Valuation in 2022 Cost |
169,960 255,000 35,000 (40,000) 55,000 50,000 40 |
| 525,000 |
The cost represents the original cost of the land on which the property is now situated. There is no supporting documentation available to determine the costs incurred when erecting the property.
The31 DecemberTrustees obtained2022, Thea valuationprofessionalwasvaluationconductedofbytheMarcinvestmentAllen EstatepropertyAgentsduringand istheconsideredyear endedto be a fair estimate of the market value.
continued...
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LAMBOURN CHURCH OF ENGLAND SCHOOL HOUSE TRUST
NOTESFor TheTOYearTHEEndedFINANCIAL31 DecemberSTATEMENTS2022continued
10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 10. | DEBTORS: AMOUNTS F |
ALLING DUE WITHIN ONE YEAR | ||
|---|---|---|---|---|
| 2022 | 2021 | |||
| £ | £ | |||
| Prepayments | 103 | 81 | ||
| 11, | CREDITORS: AMOUNTS | FALLING DUE WITHIN ONE YEAR | ||
| 2022 | 2021 | |||
| E | £ | |||
| Othercreditors | 1,123 | 1,799 | ||
| 12. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.1.22 | in funds | 31.12.22 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 1,770,492 | (62,733) | 1,707,759 | |
| TOTAL FUNDS | 1,770,492 | (62,733) | 1,707,759 |
Net movement in funds, included in the above are as follows:
| Net movementin funds, included | in the above are as foll | ows: | ||
|---|---|---|---|---|
| Incoming | Resources | Gains and | Movement | |
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 44,076 | (23,183) | (83,626) | (62,733) |
| TOTAL FUNDS | 44,076 | (23,183) | (83,626) | (62,733) |
Comparatives for movement in funds
| Comparatives for movementin fun | ds | ||
|---|---|---|---|
| Net | |||
| movement | At | ||
| Ati.1.21 | in funds | 31.12.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 1,605,758 | 164,734 | 1,770,492 |
| TOTAL FUNDS | 1,605,758 | 164,734 | 1,770,492 |
Comparative net movement in funds, included in the above are as follows:
| Comparative net movementin fu | nds, included in the abo | ve are as follo | ws: | |
|---|---|---|---|---|
| Incoming | Resources | Gains and | Movement | |
| resources | expended | losses | in funds | |
| E | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 41,838 | (19,170) | 142,066 | 164,734 |
| TOTAL FUNDS | 41,838 | (19,170) | 142,066 | 164,734 |
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continued...
LAMBOURN CHURCH OF ENGLAND SCHOOL HOUSE TRUST
ForNOTESTheTOYearTHEEndedFINANCIAL31 DecemberSTATEMENTS2022continued
12, MOVEMENT IN FUNDS~ continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.1.21 | in funds | 31.12.22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 1,605,758 | 102,001 | 1,707,759 |
| TOTAL FUNDS | 1,605,758 | 102,001 | 1,707,759 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| year p the aboveare as follows: |
or year mons co | ne net mov | ementin fund | s, included |
|---|---|---|---|---|
| Incoming | Resources | Gains and | Movement | |
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 85,914 | (42,353) | 58,440 | 102,001 |
| TOTAL FUNDS | 85,914 | (42,353) | 58,440 | 102,001 |
13. RELATED PARTY DISCLOSURES
N Hastle is a Trustee appointed by Excalibur Academies Trust who are responsible for Lambourn Church of England School which receives donations from the Trust.
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