RF.GISTERED CHARI'I'Y NUMlllI R: 1000.$74 R¢port of tlie Ti'ustee5 Unaudited FinanciAI StAtenients for the YeRI' Ended 5 Aprll 2022 for MICHALL DAVICIS CHARITABLE SELLMENT
MICIIAEI L J)AVIES CHARITABLE SLIl"I'LEMENT Contcntb (bf the FinAliti] Stllteijieiits foi. tlie yeai. eiide(15 Api'il 2022 Pige Ileferencc #nd AdministrAtive Detai15 Report of the Ti'ust¢es Inilependeiit ExAminer'5 Report Statetnetit of FinaTLcial ActLVIti¢s Balanec Sheet Note$ to the FinAnciRI Statements DetAil¢d Statement of Financial Actlvitl¢$ 10
MICHAEL DAVlbS CTrIARITABLE SF.TTLEMEIYT Refereiice aijd Ailtnithistl'Rtive Detail$ fui. tlit ycAI' eniled 5 Ai?ril 2022 M Dayies K A Hawkill5 Principal addi'¢ss No 9 Lytton Close London N2 ORH R¢gistered charity number 1000574 IELdependent exarninei. Haines Watt5 Chartered Accountants New Derwent House 09-73 Thcobalds Road London WCIX 8TA Page I
MICHAEL DAVILS CIIARITABLL SCITTLEIMCINT Repoi't of tli¢ Tj'ustees foi. tht yeAr elided S Api'il 2022 Thc tl'l15t¢e5 pre%ent their report with the financial slatemeiit5 of the ¢harity for the year ended 5 April 2022. The trustees have Hdopled the provislons of Accouiiting and Reportiiig by Chdi'ilics.. Stat¢rnent ()f Recominended Practice applicable lo chai'ities prcpai'iiig Ilieir accounts in a¢¢oi'dance with tlie Ftnancial Reporting Standard appliGable in the UK at]d Repiibli¢ of Iieland (FRS 102) Icffective l Jaiiuai'y 20191. Objettive5 activities The polici adopted in fiirtheran¢e of thcse object5 are the payment of fvnds to otlier registered charities at the ti'ustees discretiotl and ¢heie has been no challge in these (luring the year. The triistces have paid due rcgard to gllidance issued by the Charity Commtsston in deciding what activitie5 th¢ charity should undertakc. As showi in th¢ Stateineiit of Finattcial Activsties the charity distributed £185.000 12021 accllmulated futlds to other chaTlties. £211.000) of its The trustee5 meet on a regular basis to authori5e donations to other charities. Awai'ds are authorised by a unanimous deciss011 of tli¢ trustees. FinaTrci81 J'eview The ti'ustees consider the financial position of the charity to be satisfactory. The policy of the Gharity is to maintain reserves to fvnd its prospective chaTltable activiti ftsr the foreseedble future. Structurej govei'iiancc mAnAgement Govei'nillg documciit 'I'hc charity is coiiti'olled by its governing doGument, a decd of trust, and constitutB5 An unincorpoi'ated charity. The chaTiiy was established by a charitable tTUSt deed on I I September 1990. The Charity's objcct5 are the support of gencral chai'ilable activities. There are currently no restricted OT eiidowment fijllds. Reci'uitment Appointment of new trustees The charity Tecruils new trustee5 by invitation of the ¢xi8ling Irustces as and when it 15 deemed necessaTy in order for the Board of Trustees to Colltinue to Carry out its dulTe%. Thc trust deed I'equircs tliat a minimum of two tTU5te¢s are appointed at any given point but sets no upper limit. No ti'ustces wei'e appoirtted in the year. The ti'iistees who served during the year were.. M J P Davies K A Hawkill5 Approved by ol'der of tli¢ IMMI.d of trustecs on 30 January..2023 aiid Signed on its behalf by.. M Davies- Trustee Pagc 2
IndcptEiilent bxHmin¢i"s Repol't to thc Ti'u5tee5 of Mii'liael Davies C.h81'itAble Settl¢m¢iJt Indepcndttit examiiicr's repoi't to the ti'ustees of MiLh#tl DAvies Charitable SettlcTnertt I Irpoi't lo Ilic charity tTUStees oji rny exaiiiinalion of the aLCOUllts olmichael Davics Cliai'ilable Settlenicnt (the Trust) for the year cnded 5 Api'il 2022. Respon5ibilitie5 Aiid basls of i'epoi As the charity Irustees of ihe Trust yoii are respojisible for the prepRI'ation of the accounts in accordan¢e with the reqiiirem¢nts of the Charlties Aet 2011 I'th¢ A¢t'l. I report in Icspect of my exainiiialion of the I'rEist'5 a¢¢ounts cai'ried out under Section 145 of the Act and in carrying out Tny exainijiation I havc followed all applicabl¢ Dirceliojis given by thc Charity CommÉ5510ll under Section 145(5)Ibl of the Act. Independent ex#miiJer's statement Since your charity's gross incoine exc¢ed¢d £250,000 your examiner Inust be a mcmber of a listcd body. I can confirm that l ani qualificd to undertake the exanianalion bccau5e l am a registei'ed membcr of the ICAEW which is one of the listcd bDdies. I have cornplded my exaininatiotj. I COllfiTtn that no matErial matters have come to my attention in conn¢ctioD with the examination giving me cause to believe that in any material i'e5pect'. accounting I'ecords were not kept in respect of the Trust as requirEd by Section 130 of the Act. or the arcounls do llot accord with thos¢ records: or tlie ar¢ounls do iiot ¢omply with the applicable Tcquirements concerning thc forrn and wntent of accounts set ovt in tlic Charities {Account5 and Rcpoi'151 R¢gulalioJis 2008 other than any requircment thal the accoutlts give a true at]d fair view which is not a matter considered as part of at) jlldependent examination. I havE no concern5 and have come 4¢ro8s no othei. mallcrs in conne¢lion with the ¢xaminatlOll to which attention Should be drawt] iii this report in order to ejiable a propcr understanding of tlie accounls to bc reached. Nicola Pearson the ICAEW Haines Watts New Dcrwei?t House 69-73 1-heobalds Road London WCIX 8TA Date.. Pag¢ 3
MICHAEL DAVIES CIIAIIITABLE SfiTTLEMEN'r Statem¢nt of liiiiHiici#l Activities foi. the yeai. enile(J 5 Aiiril 2022 2022 Unrtsti'icted fund 2021 Total funds Note5 Income aiid endowment5 from Doiiations and legaii¢s 361,489 Othei. iii¢ome 3,250 3,249 TotAI 364,739 3,249 Expenditiire on Ch¥i'itAble aetivitie5 Donalion5 to other charities 185,000 211.000 Other 1.902 1.864 Total 186,902 212,864 NET INCOMEI{EXPEI NDITURE) 177,837 (209,615) Re¢onciliRtion of fund5 Total fiind5 brou¥hi forward 81l.181 1,020.796 I'otal fund5 cai'ricd foi'wRI'd 989.018 Th£ notes foj'in PArt of these fsnancial 5tatetnents Page 4
MICHAC4 L DAVILIS CIIARITABLE SklTLfLMENT BalHThce 8licct S Api'il 2022 2022 Uni'esti'icted funil 2021 Total funil$ Nutes Cui'i'ent a55ets Debtors Cash at bank 110,881 702,100 878,487 992,618 812.981 Creditors Amouiit5 falling due within ot]e year (3,600) 11,800) Net ouri'ent kS5et$ 989,018 Total a5set5 less cui'reDt liabilities 989.018 NET ASSETS 989.018 Funds Unrestricted fund5 989,018 I'otHI fund$ 989,018 The financial stateillents werc approved by the BoaTd of Triistee5 and authorised for issue ao..January..202a......... and wcre sigRed on ils behalf by.. ot) Davies - Trustee The nol¢s form part of these financial slateThen15 Pag¢ 5
MICHALL I)AVIF.S CHARITABLE SE'I-I'LCIMENT Notes tts tlie Diijancial .8t#ttment5 ror tkie year eiide(15 Api'il 2022 Atcouiiting polities B4sis of prepHI'iiJg the fiiJallciAI 8tAtements The finallcial 51atemcnts of the ¢hai'ity, whsch is a public benefit entity linder FRS 102, havc beeii i)i-epared in a¢cordallCC with the Charities SORP IfRS 102) 'Accoiillting artd Rcporting by Charitie5'. S11c temcnt of Re¢omn)Cllded Pra¢licc applicable to cliai'itie5 pr¢paring theii. aw)unls in accordance with tli¢ Financtal Repoi'ling Standard applicable in the UK and Repiiblic of Treland (I',RS 1021 leffcctive l Januaiy 2019),. Financial Reporting Standai'd 102 'Tlie Finan¢ial Rcportiii¥ Standard applicable in the UK and Rcpiiblic of Irelat]d' and the Charities Act 2011. The financial statements have been prepared under the histoi'ical cost wttvention. FInela1 i'epoi'tillg stAiidai'd 102- I'educed di$tlosure exernplions The charity has lakcn advantage of the following disc105ur¢ exemptions preparillg these financsal statements, as peTmittcd by FRS 102 'The Pinan¢ial Reporting Startdard applicable in the UK and Republic of Ireland.: the requirements of Section 7 Statenient of Cash I,'Iow5. Income All income is recognised in the Statement of Finaiicial Activitics once the cliarity has entitlement to the funds, it 15 probable Iliat the income will be i'eceivcd alld the (tmount can be measui'ed ieliably. Expenditure Liabilities are recognisrd as expet]diture as soon a5 there is o legal OT Constructive obligation committsng the charity to that expellditur¢, it is probabl¢ that a Iian5fer of ec()nomic benefits will be required in scttlernent and the amount of thc obligation Can bc meabui'ed reliably. Expenditure 15 accounted foi. on an accruals basi5 and has been classified under hcading5 that aggi'egate all cost related to Ihc category. Wheir costs cannot be directly attributed to particular headings they have been allocated to adivitics on h basis consistent with the use of i'esources. Gi'ant5 offered subject to ¢onditlOll5 whi¢h have t]ot bEen met at tlie yeaT end date are noted as a commitment but not accrued a5 expenditiire. TAxAtion The chaTlty is exempt fix)tn tax otj it5 cliaritable activitie5. Fund ACCOUlltithg Unie8trictcd fvnds can be u5¢d in a¢cordallce with the charitable objectives at the discretiot] of the trustees. Trustees, remunerAtion xnd benefit5 'rher¢ werc no tTUStees' remuneiation or other benefits for the year ended 5 April 2022 nor foi. the year ended 5 April 2021. Trustee5' expenses Th¢re were no trustees. expense5 paid for the yeaT ended 5 April 2022 nor for thE year ended 5 April 2021. Page 6
MICHAEL DAVIES CHARITABLL SL'fi'LCMFNT Notes to ttle Iiiiiancial St#ttments- coiJtLlltied foi. tlie yeAr elided 5 Api'il 2022 Debtors: amount5 fRlling due after more tliAn one yeai. 2022 2021 Other debtOTS 110.881 Ci'editor$.' amounts fAlling due within one yegr 2022 2021 Other creditOl'5 3,600 1,800 Movement ill funds Net movement in fund5 At 614lll At 514122 Unrestritttd funds General fund 811,181 177,837 989,018 TOTAL fi UNDS 811,181 177,837 989,018 Net movement in fijnds. included in the above are as follows.. Resources expettded Movement in funds resoui'ces Unrestricted funds General fund 364.739 (186,902) 177,837 TOTAL FUNDS 364,739 (186,902) 177.837 CompRrative5 foi. movement in fund5 Net moveTnent in funds At 614120 At 514121 Unrestricted funds Getjeral fut)d 1,020,796 (209,615) I'OTAL fiUNDS 1,020,796 (209,615) Page 7
MICIIAEI L DAVIES CHARITABLE SETTLCIMEN1' Iyotes to the fiinaiicial Statemtrtts- toiitinued foj. Ihe yeAI' eijded 5 Ai)i'il 2022 Movement in fuiid5- coritinued Comparative net movement in funds, included in the alme are as follows.. Incoming J'e$ouJ'ces Re$ources expended Movement in funds Unrestricted fund5 General fi]nd 3,249 (212,864) {209,6151 TOTAL FUiYDS 3,249 (212.864) {209,615) A ¢urrent year 12 months and pi'iOT year 12 months cojnbined position is as follows: Iyet movement in funds At 614120 At 514122 Unr¢$¢J'itted funds General fund 1,020.796 131.778) 989,018 TOTAL FUNDS 1,020,796 131.778) 989,018 A ¢ui'rent year 12 months and prior year 12 months combined net movement in fiinds, in¢luded in the aknve are as follows.. Intomiiig resource5 Re50uI'ees Movement iih fulld5 Uni'e5trictcd funds Gcneral fulld 367,988 {399,766) (31,778) TOTAL fiUNDS 367,988 {399,7661 (31,778) Related pai'ty di$tlosures There were no related party transactions for the year ended 5 April 2022. Page 8
MICHAII.I, DAVIES CHARITABLE SCITI'LEMEI NT Notes to the fiinaneial Stxtcmcnts- continued fDI' tlie yeAI' etlded 5 Apt'il 2022 Employee$ -Fhere wcre t]0 employees during the yeai.. Page 9
MIC14ALL DAVIES CHARITABI,E SETTLEMLIN'I. Detaile(I Staten]cnt of fiDaiJcial Attivities foj. the yeAI' elided 5 Api'il 2022 2022 2021 Incom¢ endowineiits DoiiAt10115 aiid legacie5 Gifts 361,489 Otliei. illcome Loan intcrcst ijicome 3.250 3,249 Total inooming resources 364.739 3.249 Expcnd1tre Chgl'itAble gCtivitie5 Grants to institutions 185.000 211,000 Support ¢ost$ MRnagement Accouiitaiicy 1,800 1,800 FiiJRnee Bank charge5 102 64 Total resources expended 186.902 212,864 Net Intomel(expenditurel 177.837 {209,615) Thi5 page d(Ks not form parl of the statutory financial statement5 Page 10