REGISTERED CHARITY NUMBER: 701450 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 FOR LILIAN PRIME TRUST Johnson Tidsal Linited Chartered Accountants 81 Burton Road DefbyBhire DE11TJ
ULIAN PRIME TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Report ofthe TTUStees 1 to 2 Independent Examlne¢s Report Statement ot Flnancl81 Acdvltle8 Balance She&t Note8 lo the Flnanclal Statements 6 to 10 Dglalled Statsment of Flnanclal A¢Uvltles 11
LIUAN PRIME TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 paARCH 2023 Thg Iru6tses weser¢t their report wth the ffinandal statemeTEls of the ehwty for the year trd 31 Marc 2023. The trustees have adopted the FKovisions of AccountiryJ and Reporting by chitieS. Statemert of Reo)mmerKled Pract applicable to charities PTeparrrKJ thew a(Ounts in accordance thith the FirAngal RwbrwJ Stsr¢Ard gpplirable in the UK and Republic of Ireland (FRS 1021 (efftive 1 JanLW 20191. OBJECTIVES AND ACTMTiES The object of the charity is to prowde for persons sufferirrfj from Mulli sden)si4 or ary other physical or mental disabilty. and in need thèrefore of housing and any other assc#ialed amenitt5 spegfiIty designed or &J8Pted to meet the disabilitie5 and Tequiremerrts of SLth persons on lems appropriate to their needs. ACHIEVEhlENT AND PERFORMANCE The trustees Co81der the perfomian¢% of the Trust lo be satisf&. FINANCIAL REVIEW The attached financiat siatsments sFKMTthe WESUtEs ftylhe yea Bn¢Jed 31 2023 whit Ihe trustees COnder to te satisfacaory. Reseryes polky The trustees have eSts11$Pd a rp)lity vlknby th& unrestrided funds rrt ¢ommitted or invested in tsngible fixed assets (the free reserve5), hdd by the tsjnpary. shouw be betr•Ren and years oflhe reser e>4)ended. Free reserves repres8rtthe working ca1 ofthe )Mpany. avdllable to SUPFQrt short and medtum term obpctsves and lo safegwd agalr urw8(thd decfease8 in incxAne. At present the trustee8 are sattsfiwj that these ObltiveS are beirrfj met STRUCTURE. GOVERNANCE AND MANAGEMEpir The d8 8et up by a trust deed dated 20 March 1989 as a lo knlian Prime. The furKI 15 a registered charity, Numoer 701450.The chan'ty is maintsined by the twtrs as set out in the trust de&l. Wrth regard to risk managetnenl the tree& have examir*J the mai(Y stralegic tyjsiness ar¥J oFerational risks ttl¢h the charity faces and confirm that systems have estaW15hgJ to erth re9ar repcyts to be prod(Ked so Ihat the necessary sleps can be taken to lessen these risks. The ginal objective of provithng manapj ojntrdled residential ptoperties fcy M S Suffere ojntin In planning our actiMties for the year we kept in mind Chairty ComrnissirMJ's gUIdar on public efft St IrLthe meetings. REFERENCE AND ADMINISTRATIVE DETAILS Reg55tered Charlty number 701450 Princlpal addrès8 CathedTd Chamb8rs Amen Alley Derby Derbyshire DE13GT Trustse8 The trustees served the during the perfod there as foltffi: Chalrman P H Mllner Other elected Trustses P J Collinson B A Scott (Resigned 2023) Page 1
ULIAN PRIME TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 REFERENCE AND ADMENISTRATIVE DEfAILS Independent Examlner Johrtson fidsall Lirnited Chartered Accountsnts 81 BLtrton Road Derby Derbyshi DE11TJ &2Z )proved by order of the t4)ard of trusiees on. ........ ...... . . . .. arml signed on its behalf by. rustee Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LIUAN PRIME TRUST Indepgndgnt gxamin8es reportto the trustoes of Llllan Prfme Trust I rep)rt to the charity trustees on my examwtson of the of Lilian Prime TrLtst (the Trtt) br the year ended 31 MaKh 2023. Responslbllltle5 and baskn of report As the charity trustees of the Trust you are resF¥)n$ibte fw ts preparntion of the ac£ounts tn accordance vrith the requirements of the chareS Act 2011 Ilhe Att). I rewt in resFect of my exarnination of the Trusys 8co)unts cwrfed out under Sethon 145 ofthe Act and in carrAg t my ex8minab.on I have follfftd all apFl]b1e DirtionS given Charity Commission under SOn 145t5llb) of the ACL Independent examlnets statement I have completed rny examination. I that rK) material matters te ¢orne to my attention in (%ffit¢tion vAth the exarnination giving me cause lo believe that in ary maleriat res 8ccountiThJ records were rmx kept In reSpt of the Trust as reqLMred by Secon 130 of thg A(, or the aco?unts do nci Cord those rdS.. or the acLounts do not cpIY wth the apIcable reqlllrements corwning the and corrterrt of accounts set out in the Charities {A¢¢ounts arKI Reports) RegLd8tiS 20C6 other than any requirement that the lUnts gtve ttue and tair is not a matter con5idpJed as part of an indewdent examlnation. I have no corKems and have come across no other matters in eonnedion the examinabon to v•hich attention should be dravffl in thls report in order to enable a proper undefstthrg of the accourrts to be reache(L David Mellor FCA Johnson fidsall Limited Chartered Ac£ountants 81 Burton Road Derby Derbyshl DE1 1TJ Date.. ,)3111 Page 3
LILIAN PRIME TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 Unrestrfcted fund Total furKIs INCOME AND ENDOWMENTS FROM Investment income 31706 32,518 XPENDITURE ON Charitable ac11vit5 £tivitses 10.861 22,520 NEf INCOME RECONCILIATION OF FUNDS Total fund5 biought for%Yard 1,107N50 1.097.452 TOTAL FUNDS CARRIED FORWARD 1,129,295 1,107,450 Page 4
LILIAN PRIME TRUST BALANCE SHEEr 31 MARCH 2023 2023 Unrestrfcted fund Total fijnds FIXED ASSETS Investment propety 970000 970,000 CURRENT ASSErs Debtors Cash at bank 64.706 101885 49,249 105.983 16791 155.212 CREDITORS Amounts falli due within one year 18,296) (17.762) NEf CURRENT ASSErs 159,295 137.450 TOTAL ASSETS LESS CURRENT UABIUTIES 1.129.295 1,107.450 NEf ASSETS 1,129296 1.107,450 FUNDS Unrestricied funds 10 1.129.295 1.107,450 TOTAL FUNDS 1.129.295 1.107.450 The financyal statements were approved ty Ihe B0d of Trik%te8s and authorised for issue 2.2•d..•kn.. 2•Z.l... and re signed on its behalf ty: r- Trustee P J collinsc- Trustee The notss fom) part ofthese financJal 8tatanents Pag& 5
ULIAN PRIME TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ACCOUNTING POUCIES Basls of preparlng the flnanclal statements The financial staternents of the cliarity, lch is a put1 benefit entity urKkr FRS 102, have been prep8red in accoTdanee wth the Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. Statement of RecOmmded Practice applicable to charities weparing tsr ac£iyJnts ui accordan wth the Financkil Rew)rting Standard applicate in the UK and Reput4 of Irelarml IFRS 102) leffecbve 1 January 2019).. Financial Reporting Standard 102 Tr Finan(ial Reporting Slandatd a[Cable in the UK and Republic of Irelantt and the Charities Act 2011. The finanraal statefflents ha teen preped underthe histIcal c05t c(wNention. The finanal statements have been prepared to give a Irue and fail view and have departed from the Charities (Accounts and Reports) Regulations 20CE onty to the extent required to prowde a and fair e.. This departure has involved followng the AccounlirvJ and Reportiw by Charities.. Statement of Recommended Practi apICable to thariti.es preparing their accounts in accordance th the Financiai Rep)rting Stsndard for Smaller Entities published on 16 July 2014 fattrr than the kcounting and Rewrting by Charfties.. Statèment of Recommended PraGtiGe effectNe from 1 April 2CX15 vthith ha5 Sin iEen itlKJrdwm. The presentation ¢urrerKy of the fjnanaal statements is Ihe Pound Sterftr¥J (£). Slgnlftcantjudgements and esttmatss The estimates and undedying assumptions are reme1 on an ongoiNJ basis. Remsiorts to aceounts.ng èstimates are rec(>Jnised in the peri¢)d in whth the 8slimate is rew5ed if revision onty affects that period. OT in the perlod of the rev1c and ftftU peri(ts ifthe wsion affects toth cltrrent and future periods. Flnanclal reportlng standard 102. reduced dIsclosu exemptlons The charity has tsken advantsge of the f(Alowro disdo$u exemptions in preparing Ihese financaal statements, as perm¢tted by FRS 102 The Financial Repcxb'rg Standard apF4icable in the UK arKI Republic of Ireland,: the reqimrements of loTr 7 ststefflt of Cash Flow5. Inc¢)me Al income is rec4nised in tt Stement of Finarwl kntivilies ortr ts tharity has entillerrEnl to the fuTrJs, it 1$ prowe that the income be re1ved and the arnnt can be meagjred reliabty. Dgbtovs Other debtors are recogni5ed at the settlement amnI due less ary (JiscounL Expenditurg abilits'es are recognised as experKffture as SODn as there a legal or construth oblig8Uon nmittIng the charity to that expenditure. it is probable that a transfer of economic beneffts wll be required in setitement and the amount of the obligation can be measured rdiat4y. Experbjilure k8 acnted for on an ac£ruals basls and has been dassified under headings that aggregate all cost related to the ralegw. Where costs CaThrt be direcuy attrilxrted to parbtyJlar headings theg have teen alILated to &lfviknes on 8 basls conslsientvrilh the of resources. CredltOT¥ Creditors are recognised th the drIY has a present cbltgab'cfft resulting from a W event that wll probab result in the transfer of frjnds to a third paty and the amount due to setue 1he OtltIOn can te measured or estimated reliably. Creditcfs are recognised at lhr settlement QunL Investment property Investment propety Is shown at most reL%nt val10Th Any ag surplus or defi¢it ari*ng from clHn9es in falr value Is recognised in the Statement of Finandd knjbe5. Taxatlon The charity is exempt from tax on its charitable activiknes. Fund accountlng The charity maintains level of reserves requited to fu1 its obJe¢tives. The t#)ard of tnjstees monitots reserves at regular meetings. Unrestricted funds can be used in accordance 1th the ehritable objectives at the discretic ofthe tNstee
LILIAN PRIME TRUST NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2023 INVESTMEMT INCOME 2022 Rents received Deposit a¢count interest 32,472 3a504 14 31706 32.518 GHARrrABLE ACTivmES COSTS Direct Costs (see rKsle 4) Supp)rt costs (see Acbwtie$ 10,861 DIRECT COSTS OF CHARITABLE ACTMTIES 2023 2022 Management fees Maintenanee ojsts Bad debts 3,700 3.535 18 3,2N) 15,694 18.944 SUPPORT COSTS FEnan¢x Ttstsls 17 3,591 Support cc6ts, induded in the abovq ¥e as foll 21f2 Total actmties kti¥ities Interest payabb similar Insurance Adrnirustradon o 17 3,061 630 716 3,576 TRUSTEES. REMUNERAnoN AND BENEFrrs There no trLt8es, remuneratiry) other beneffts for Ihe year ended 31 March 2 rTh for the year ended 31 March 2022. Trusleès, expenses There m no truste expenses w'd for the year ended 31 2023 for Ihe year erlded 31 Marth 2022. Page 7
LILIAN PRIME TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023 INVESTMENT PROPERTY FAIR VALUE At 1 April 2022 and 31 March 2023 970,000 BOOK VALUE At 31 March 2023 97QOOO At 31 March 2022 970.1)30 Falr Wdlue at31 Marth 2 is represented by. Valuati¢Jn in 2023 970.000 If investment propwty had nc* been revalued it 1)Uld have irLdudgJ at the foll(Ywirg histsica cost.. 2023 2022 Cost 438,168 438.168 Investrnenl propety w3s valued on an open market basis on 31 Marth 2023 trustees. DEBTORS: ApiiouNfs FALUNG DUE VIITHIN ONE YEAR 2023 2022 Olher debtors 64.706 49.249 CREDITOR8: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2023 Other creditors 296 17,762 10. MOVEMENT IN FUNDS Net movement in funds At 114r22 3113r23 Unregtrfcted fuN19 Generd fvnd 1,107,450 21,845 1,129,295 TOTAL FUNDS 1,107,450 21,845 1.129,295 Net movement in fijnds. induded in the abo a as folkxs" oming resources Resources lknvement expended in funds unrtrIOted funds General fvnd 31706 (10m1) 21,845 TOTAL FUNDS 31706 (10.861) 21,845 Page 8
ULIAN PRIME TRUST NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2023 10. MOVEMENT IN FUNDS- ¢onlInl Comparative¥ for movement In funds Net movement in furxjs At 31r3r22 At 114r21 Unregtrict¢d funds General furld 1.097,452 9,998 1,107,450 TOTAL FUNDS 1.097.452 9.998 1.107,49J Comwotive net m¢Jvernert In fund8. trK*uded In Ihe abcw are as follM: Incoming ResouTC8S Movement . resoLwces expended infunds Unrestrlcted lunds General fund 32,518 (215201 TOTAL FUNDS 32,518 (215201 A cjjrrent ye8r 12 morths prior ygar 12 rnonths comtmned posi11c is ay fdfcth&" movement in funds At 31N23 At 114r21 Unregtrfctsd funds General fund 1,097,452 31,843 1,129,295 TOTAL FUNDS 1,097,452 31,843 1,129,295 A current year 12 mc¥rths and prior year 12 mcth combined net MOnent In fund& irduded in the above are as follows.. Inc%)mir#J Resources Movement in funds Unrestrlthd fund5 Generd furKI 65,224 {33,381) 31.843 TOTAL FUNDS 65,224 {33.381) 31.643 Page 9
LIUAN PRIME TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023 11. RELATED PARTY DISCLOSURES There s%Ere Tr? related paty transac*¢)ns forthe year ended 31 Ikrch 2. Page10
LILIAN PRIME TRUST DETAILED STATEMENT OF FINANCIAL ACThITIES FOR THE YEAR ENDED 31 MARCH 2023 2023 INCOME AND ENDOWMEIW6 Investrnènt IOme Rents reGeived Deposit account inlerest 32N72 32.504 14 32.706 31518 Totsl inGomlng resources 706 32,518 EXPENDITURE Charltable activltle8 Managemenl fees Malntenance costs debts 3,700 4535 3,250 15,694 18,944 SupportCO8ts Flnance Bank intere¥i 17 Governance costs Insurance Administration costs 3.061 2.860 716 3A91 3.576 Total resources eynded lo61 22.520 Net Income 21.845 9,998 Thks page doB5 notfcKm part oflhe statrts fnanrA statemerts Page11