2022-12-31-accounts - Lloyds Bank Foundation For The Channel Islands

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YEAR ENDED 31 DECEMBER 2022 Contents
REFERENCE AND ADMINIS TRATIVE DETAILS	3
CHAIR'S REVIEW OF THE YEAR	5
TRUSTEES' REPORT AND STRATEGIC REPORT	8
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
LLOYDS BANK FOUNDATION FOR THE CHANNEL ISLANDS	20
STATEMENT OF FINANCIAL ACTIVITIES	24
BALANCE SHEET	25
STATEMENT OF CASH FLOWS	26
NOTES TO THE FINANCIAL STATEMENTS	27

f the two main object eeds.	s o	f the Foundation:	Education an	d Training, or	Social and	Community
Issue			2022	2022	2021	2021
			No. of	Grants	No. of	Grants
			Grants	6	Grants	6
Support for Children	and Young People		1	66,000	8	269,699
Health including Mental		Health	5	233,850	5	189,000
Support for People with		Disabilities			5	249,944
Community Support				73,500	3	83,000
Training, employment	and lifelong				3	105,000
learning
Support for Older People			2	109,501
Victim Support						70,000
Advice and advocacy				40,000
Offenders / Ex-offenders						35,000
Relationships including		caring				35,000
Homelessness				90,000		35,000
			12	612,851	29	1,071,643
Cost of living grants				81,375
Matched giving donations				11,988		5,169
Total				686,214		1,076,812

Risk			How	we manage it
Virtually		all the	~	The funding agreement includes	a minimum	level —this was
income		arising		increased in 2021 from F460,500	to6614,000	effective from 2022
from	a	single	~	The funding agreement requires	nine year's notice to be given
source,		Lloyds	~	Funding is available from reserves to maintain		grant giving or the
Banking	Group pic			grant giving budget is adjusted
Investment		losses	~	Regular monitoring of performance
			~	Diversified portfolio
			~	Advice from Investment Manager	—Cazenove	Capital
Impact	— is the		~	Regular feedback from grant holders
Foundation the desired		making impact	~ ~	Training and support for grant holders Monitoring ofgrant holders
			~	Regular review ofgrant making strategy
Key person		failure	~	Support from Lloyds Foundation	for England	&Wales
			~	Support ofExecutive Director by	Chair and Trustees
			~	Regular communications and monitoring
ITsecurity			~	Training in cyber security
			~	Access controls
			~	Back-up and recovery processes

		Note	Unrest-	Total	Unrest-	Total
			ricted		ricted
			2022	2022	2021	2021
			6	6	E	6
Income from:
Donations		3	778,650	778,650	868,690	868,690
Investment income		6	24,043	24,043	23,583	23,583
Total			802,693	802,693	892,273	892,273
Expenditure on:
Investment fees			11,371	11,371	13,654	13,654
Charitable activities		4a	822,292	822,292	1,173,317	1,173,317
Total			833,663	833,663	1,186,971	1,186,971
Net (expenditure)
before gain on
investment			(30,970)	(30,970)	(294,698)	(294,698)
Net unrealised	(loss)l
gain on investments		6	(149,342)	(149,342)	128,612	128,612
Net (expenditure)			(180,312)	(180,312)	(166,086)	(166,086)
Net movement	in		(180,312)	(180,312)	(166,086)	(166,086)
funds
Reconciliation	of
funds
Funds brought	forward		1,648,776	1,646,776	1,814,862	1,814,862
Funds carried forward		10	1,468,464	1,468,464	1,648,776	1,648,776

S AT 31 DECENI	B	ER 2022
			Note	Total	Total
				2022	2021
				E	6
Fixed assets:
Tangible assets			5
Investments			6	1,654,798	1,791,499
Total fixed assets				1,654,798	1,791,499
Current assets:
Debtors				9,503	917
Cash at bank and	in	hand		209,126	86,210
Total current assets				218,629	87,127
Liabilities:
Creditors: Amounts		falling due within one year	8	(346,124)	(197,450)
Net current liabilities				127,495	110,323
Total assets less	current liabilities			1,527,303	1,681,176
Creditors: Amounts		falling due after more than	9	(58,839)	(32,400)
one year
Total net assets				1,468464	1,648,776
The funds ofthe	charity:
Unrestricted funds			10	1,468,464	1,648,776
Total chari funds				1,468,464	1,648,776

EAR ENDED 31 DECEMBER 2022
				Notes	2022	2021
					F	6
Cash flows from operating activities
Net cash enerated from/ used in	o eratin		activities	A	111,514	490,954
Cash flows from investing activities:
Income from investments					24,043	23,583
New investment and reinvested income					(382,244)	(596,753)
Proceeds from sales ofinvestments					443,637	976,103
Movements on term deposits					(74,034)	20,724
Net cash generated from investing	activities				11,402	423,657
Change in cash and cash equivalents		in the	reporting		122,916	(67,297)
ear
Cash and cash equivalents at the	beginning		ofthe		86,210	153,507
re ortin ear
Cash and cash equivalents at the	end	ofthe	reporting	(B)	209,126	86,210
ear
(A) NET CASH FLOWS USED IN	OPERATING ACTIVITIES
					2022	2021
					E
Net (expenditure) for the reporting	year				(180,312)	(166,086)
Adjustments for:
Income from investments					(24,043)	(23,583)
(Increase)/decrease in debtors					(8,586)	240
Increase(decrease) in creditors					175,113	(172,913)
Losses/ ains on investments					149,342	128,612
Net cash enerated from/ used in	o eratin		activities		111514	490,954
(B)ANALYSIS OF CASH AND CASH		EQUIVALENTS
					2022	2021
					E	6
Cash in hand					209,126	86,210
Total cash and cash e uivalents					209,126	86,210

OTES TO THE FINANCIAL STATEMENT	S (cont.)
2. DONATIONS
	Unres-	Total	Unres-	Total
	tricted	2022	tricted	2021
	E	E	F	6
Donations from Lloyds Banking Group
Covenant income	626,685	626,685	784,390	784,390
Cost of living supplement	61,400	61,400
Operating costs contribution	75,000	75,000	75,000	75,000
Events and publications	6,265	6,265
Donated services
External audit fees paid by Lloyds	9,300	9,300	9,300	9,300
Bankin Grou
	778,650	778,650	868,690	868,690

a) Ch	aritable activities
		Grants	Other	Support	2022
			Charitable	Costs
		f	activities 6
Grants Programmes
Jersey		411,611		69,341	500,952
Guernsey		177,900		36,542	214,442
Cost of living grants		61,375		12,607	73,982
		650,886		138,490	789,376
Other activities
Matched	Giving	11,988		2,463	14,451
Training	and events		18,465	-	18,465
		11,988	18,465	2,463	32,916
Total		662,874	18,465	140,953	822,292

4.ANALYSIS OF EXPENDITURE	4.ANALYSIS OF EXPENDITURE	(cont.)
a) Charitable activities (cont.)			Grants	Other	Support	2021
			Charitable		Costs
			activities
			6	5
Grants Programmes
Jersey			295,008		37,332	332,340
Guernsey			397,907		45,885	443,792
Covid 19emergency	grants Jersey		175,000		20,180	195,180
Covid 19emergency	grants Guernsey		140,000		16,144	156,144
Alderney			35,000		4,036	39,036
		1,042,915			123,577	1,166,492
Other activities
Matched Giving			5,169		596	5,765
Training and Events				1,060		1,060
			5,169	1,060	596	6,825
Total		1,048,084		1,060	124,173	1,173,317
b) Grant awards
				2022		2021
Grants awarded			No.		No.	F
Grants in Jersey			8	434,951	15	498,736
Grants in Guernsey				177,900	13	537,907
Alderney					1	35,000
Cost of living grants				61,375
Total Grants			12	674,226	29 1,071,643
Other activities
Matched Givin			19	11,988	14	5,169
Total Grants and Matched Giving the year		awarded	in	686,214	1,076,812
Less grants cancelled or refunded ear		in the		(23,340)		(28,728)
Grants payable (Note 4c)				662,874	1,048,084

c) Grants payable	c) Grants payable	c) Grants payable	c) Grants payable
The table below shows reconciliation				between	grant amounts	approved during	the year and
amounts paid during	the year.
						2022	2021
							E
Reconciliation ofgrants		payable
Amounts outstanding	at 1	January				223,621	395,021
Grants approved/cancelled			in year
Grants approved in	the year					686,214	1,076,812
Grants cancelled							14,364
Grants payable in	the year					686,214	1,062,448
Grants paid during the year						522,320	1,233,848
Due within one year	(Note	8)				328,676	191,221
Due after more than	one	ear	Note 9			58,839	32,400
Amounts outstandin at		31	December			387,515	223,621

d) Suppo	rt costs
		Note	2022	2021
				E
Staff costs		4e	64,266	64,452
Governance	costs	4f	29,159	22,171
Communications			23,941	26,882
Other costs			23,586	10,668
Total			140,952	124,173
e) Staff	costs
			2022	2021
			E
Wages and	salaries		60,000	60,000
Social Security costs			4,020	3,960
Other costs			246	492
Total			64,266	64,452

subsistence and other expenses (202	subsistence and other expenses (202	subsistence and other expenses (202	subsistence and other expenses (202	subsistence and other expenses (202	1:L2,339four Trust	ees).
5. TANGIBLE FIXEDASSETS
					Computer		Total	Total
					equipment	and	2022	2021
					software
						E
Cost
At beginning	ofthe year					6,054	6,054	6,054
Dis osals
At end ofthe		ear				6,054	6,054	6,054
Accumulated		Depreciation
At beginning	ofthe year					6,054	6,054	6,054
Depreciation
Dis osals
At end ofthe		ear				6,054	6,054	6,054
Net book value		at beginning	of	the year
Net book value at end ofthe				ear
The fixed assets		are fully depreciated,			and still in use.

							2022	2021
								E
Investments		listed or traded			on	a recognised stock exchange	1,441,137	1,674,049
Derivative	financial		instruments				79,125	74,083
Cash held	b	investment		mana		ers	134,536	43,367
Total							1,654,798	1,791,499
Movement		in the year
As at 1 January							1,791,499	2,062,961
Additions							369,602	586,827
Disposals							(443,637)	(976,103)
Net unrealised (losses)/gains							(182,050)	109,998
Net realised		gains					32,707	18,614
Reinvested		net income					12,642	9,926
Cash movements							74,034	20,724
As at 31 December							1,654,798	1,791,499
							2022	2021
Investment		income					6	6
Bank interest							31	3
Dividends							24,012	23,580
Total							24 043	23,583

method	s and risk management ar	s and risk management ar	e included in the trustees' report.
	7. DEBTORS
				2022	2021
					F
Other	debtors			6,265
Pre a ment				3,238	917
Total				9,503	917
	8. CREDITORS: amounts		falling due within one year
				2022	2021
				6	6
Grants outstanding		(Note 4c)		328,676	191,221
Accruals				5,239	5,500
Taxes and social		security		4,372
Trade	creditors			7,837	729
Total				346,124	197,450

NOTES	TO	T	HE FINANCIAL STATE	HE FINANCIAL STATE	HE FINANCIAL STATE	MENTS (co	nt.)	nt.)
	9.		CREDITORS: amounts			falling due	after more than one year
								2022	2021
Grants	outstandin			Note 4c				58,839	32,400
Total								58,839	32,400
10.		MOVEMENT			IN FUNDS
				Balance at		Total	Total	Change in	Balance at
					1 Jan	incoming	resources	market value	31 Dec
					2022	resources	expended	of	2022
								investments
					F		F.	6	F
Unrestricted			funds		1,648,776	802,693	833,663	149,342	1,468,454
Total					1,648,776	802,693	(833,663)	(149,342)	1,468,464
				Balance at		Total	Total	Change in	Balance at
					1 Jan	incoming	resources	market value	31 Dec
					2021	resources	expended	of	2021
								investments
						F	6	E	F
Unrestricted			funds		1,814,862	892,273	1,186,971	128,612	1,648,776
Total					1,814,862	892,273	(1,186,971)	128,612	1,648,776

Guernse	rants	2022	2022
Guernse	Communi		Savin s	53,500	Towards	a	art time	Mana er
Guernse	Mind			50,000	Towards	Guernse		Mind'sstrate		ic lan
Guernse	Volunta		Service	54,400	Towards	salaries for the			Jubilee	Social Club
Relate Guernsey					Towards	core operating			costs to achieve their
				20,000	Business	Plan
Total a	roved for		Guernse	177,900	4 rants
					Towards	the	impact	ofcost of living pressures
Cost of livin su		ort fundin		25,686	on charitable		fundin
Total				203,786
Jerse	rants 2022
Caritas Jerse				40,000	Towards	the	sala	ofthe CEO
					Towards	the	salary	ofthe Lead		Dementia
Dementia	Jerse			55 101	Advisor	and	Counsellor
Jerse Action A ainst Ra e				60 000	Towards	the	cost ofthe		Lead Counsellor
Jerse Recove		Colic e		52 000	Towards	rent ofa trainin			facilit
Kairos Art				32,700	Towards	the	two ke	members		ofstaff
Macmillan	Cancer	Support			Towards	the	Holistic Needs Assessment
Jerse				39 150	Service
The Shelter Trust		Jerse		90000	Towards	the	Vulnerable		women's service
					Towards	the	salaries of		the Educators for
					delivery	ofthe education,			group	and one to one
You Matter				66,000	ro rammes
Total a	roved for		Jerse	434,951	8 rants
					Towards	the	impact	ofcost of living pressures
Cost oflivin su		ortfundin		35,469	on charitable		fundin
Total				470,440