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2023-12-31-accounts

LOB'S CHARITY

ACCOUNTS & TRUSTEES' REPORT

FOR THE YEAR ENDED

31 DECEMBER 2023

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 Unit 14, Park Barn Evegate Business Park Smeeth, Ashford Kent TN25 6SX

Page 1

LOB'S CHARITY

TRUSTEES' ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees present their report and accounts for the year ended 31 December 2023.

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 £5,150,572 including £5,133,067 proceeds from the sale of listed investments. Total payments amounted to £5,706,193 including £5,390,981 purchase of listed investments.

Total grants of £290,000, were paid in the year and the trustees look forward to making further grants in 2024.

At 31 December 2023, the charity had cash funds of £118,010, of which £4,290 was unrestricted and £113,720 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 13 August 2024 and signed on their behalf by

Matthew Isaacs

Page 2

LOB'S CHARITY

RECEIPTS AND PAYMENTS ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

Receipts
Investment income
Interest received
Interest reimbursed
Forex gain
Donations
Asset and investment sales
Receipts from sale of listed
investments
Total receipts
Payments
Direct costs of charitable
activities
- Grants paid
Investment management
costs
- Brokers' fees & interest
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
2023
Cash funds at 31 December
2023		 Expendable
Unrestricted
Endowment
Total
Fund
Fund
2023
£
£
£
12,020
-
12,020
1,589
-
1,589
-
-
-
-
896
896
3,000
-
3,000
-
5,133,067
5,133,067
16,609
5,133,963
5,150,572
290,000
-
290,000
-
19,599
19,599

5,580
-
5,580
33
-
33
295,613
19,599
315,212
-
5,390,981
5,390,981
295,613
5,410,580
5,706,193
(279,004)
(276,617)
(555,621)
279,004
(279,004)
-
4,290
669,341
673,631
4,290
113,720
118,010		 Expendable
Unrestricted
Endowment
Total
Fund
Fund
2022
£
£
£
54,173
-
54,173
817
-
817
316
-
316
-
5,750
5,750
-
-
-
-
3,012,346
3,012,346
55,306
3,018,096
3,073,402
226,900
-
226,900
-
38,886
38,886
4,050
-
4,050
21
-
21
230,971
38,886
269,857
-
2,840,212
2,840,212
230,971
2,879,098
3,110,069
(175,665)
138,998
(36,667)
175,665
(175,665)
-
4,290
706,008
710,298
4,290
669,341
673,631

Page 3

LOB'S CHARITY

STATEMENT OF ASSETS AND LIABILITIES

AS AT 31 DECEMBER 2023

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
2023
£
£
£
4,680
113,091
117,771
-
239
239
4,680
113,330
118,010
-
4,346,692
4,346,692
-
4,346,692
4,346,692
4,680
-
4,680
4,680
-
4,680
-
4,460,022
4,460,022		 Expendable
Unrestricted Endowment
Total
Fund
Fund
2022
£
£
£
4,290
406,094
410,384
-
263,247
263,247
4,290
669,341
673,631
-
4,273,365
4,273,365
-
4,273,365
4,273,365
4,290
-
4,290
4,290
-
4,290
-
4,942,706
4,942,706

Approved by the Trustees on 13 August 2024

………………………………………………………………………….........

Matthew Isaacs

…………………………………………………………………………......... Penny Jerram

…………………………………………………………………………......... Anthony Isaacs MBE

Page 4

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 2023 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:

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 Unit 14, Park Barn Evegate Business Park Smeeth, Ashford Kent TN25 6SX 13 August 2024

Page 5