LOB'S CHARITY
ACCOUNTS & TRUSTEES' REPORT
FOR THE YEAR ENDED
31 DECEMBER 2021
LOB'S CHARITY
TRUST INFORMATION
TRUSTEES
Matthew Isaacs Penny Jerram Anthony Isaacs MBE
CORRESPONDENCE ADDRESS
Jordans Eashing Lane Godalming GU7 2QA
CHARITY COMMISSION NUMBER
294101
BANKERS
Barclays Bank Leicester Soho Square Leicestershire LS87 2BB
INDEPENDENT EXAMINERS
Begbies Old Printers House Stone Street Cranbrook Kent TN17 3HF
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LOB'S CHARITY
TRUSTEES' ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
The trustees present their report and accounts for the year ended 31 December 2021.
Structure, governance and management
The charity was set up by a Trust Deed dated 18 December 1985 and is operated by the trustees. New trustees are appointed by the existing trustees.
Objectives and activities
The charity's object is to make donations for charitable purposes chosen by the trustees. The charity was dormant for a number of years having distributed to charity in 2010 all the assets of its original endowment, but following the receipt of the expendable endowment in late 2015, the trustees have re-commenced grant-making.
Financial review, achievements, performance and reserves policy
The charity's total receipts in the year were £1,988,487 including £1,949,909 proceeds from the sale of listed investments. Total payments amounted to £3,527,824 including £3,217,232 purchase of listed investments.
Total grants of £271,714, were paid in the year and the trustees look forward to making further grants in 2022.
At 31 December 2021, the charity had cash funds of £710,298, of which £4,290 was unrestricted and £706,008 was in the expendable endowment fund.
The trustees do not consider that a reserve policy is appropriate.
Public benefit
The Trustees confirm that they have continued to comply with their duty in Section 17 of the 2011 Charities Act to have due regard to the Charity Commission's public benefit guidance.
This report was approved by the trustees on 19 October 2022 and signed on their behalf by
Matthew Isaacs
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LOB'S CHARITY
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2021
| Receipts Investment income Interest received Asset and investment sales Deferred receipts from sale of unquoted investments Receipts from sale of listed investments Total receipts Payments Direct costs of charitable activities - Grants paid - Other direct charitable expenditure Investment management costs - Brokers' fees & interest - Forex gain Other payments - Accountancy & Independent examination fees - Bank charges Asset and investment purchases Purchase of listed investments Total payments Net receipts/ (payments) Transfers between funds Cash funds at 1 January 2021 Cash funds at 31 December 2021 |
Expendable Unrestricted Endowment Total Fund Fund 2021 £ £ £ 38,510 - 38,510 68 - 68 - - - - 1,949,909 1,949,909 38,578 1,949,909 1,988,487 271,714 - 271,714 - - - - 34,743 34,743 (159) (159) 4,290 - 4,290 4 - 4 276,008 34,584 310,592 - 3,217,232 3,217,232 276,008 3,251,816 3,527,824 (237,430) (1,301,907) (1,539,337) 238,450 (238,450) - 3,270 2,246,365 2,249,635 4,290 706,008 710,298 |
Expendable Unrestricted Endowment Total Fund Fund 2020 £ £ £ 17,552 - 17,552 162 - 162 - 1,498,643 1,498,643 - 1,309,411 1,309,411 17,714 2,808,054 2,825,768 291,500 - 291,500 772 - 772 - 27,542 27,542 - - - 3,660 - 3,660 34 - 34 295,966 27,542 323,508 - 1,185,944 1,185,944 295,966 1,213,486 1,509,452 (278,252) 1,594,568 1,316,316 278,162 (278,162) - 3,360 929,959 933,319 3,270 2,246,365 2,249,635 |
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LOB'S CHARITY
STATEMENT OF ASSETS AND LIABILITIES
AS AT 31 DECEMBER 2021
| Cash funds Cash at bank Cash on deposit with stockbrokers Total cash funds Investment assets Listed investments at market value Total investment assets Liabilities Provision for accountancy charges Total liabilities Total assets less liabilities |
Expendable Unrestricted Endowment Total Fund Fund 2021 £ £ £ 4,290 638,179 642,469 - 67,829 67,829 4,290 706,008 710,298 - 4,615,549 4,615,549 - 4,615,549 4,615,549 4,290 - 4,290 4,290 - 4,290 - 5,321,557 5,321,557 |
Expendable Unrestricted Endowment Total Fund Fund 2020 £ £ £ 3,270 915,207 918,477 - 1,331,158 1,331,158 3,270 2,246,365 2,249,635 - 3,085,144 3,085,144 - 3,085,144 3,085,144 3,270 - 3,270 3,270 - 3,270 0 5,331,509 5,331,509 |
|---|---|---|
Approved by the Trustees on 19 October 2022
…………………………………………………………………………......... Matthew Isaacs
…………………………………………………………………………......... Penny Jerram
…………………………………………………………………………......... Anthony Isaacs MBE
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LOB'S CHARITY Registered Charity No. 288015
Independent Examiner's Report to the Trustees of Lob's Charity
I report to the trustees on my examination of the accounts of the charity for the year ended 31 December 2021 which are set out on pages 3 to 4.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011(‘the Act’).
I report in respect of my examination of the Trustee’s 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:
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1) accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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2) the accounts do not accord with those records.
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.
Daniel Valentine ACA
Begbies Old Printers House Stone Street Cranbrook Kent TN17 3HF 24 October 2022
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