Registered Charity No: 1000756
KEMBLE CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 April 2021
FISHER PHILLIPS LLP
Chartered Accountants Summit House 170 Finchley Road London NW3 6BP
KEMBLE CHARITABLE TRUST
ADMINISTRATIVE INFORMATION
FOR THE YEAR ENDED 5 APRIL 2021
| The Trustees | J P Kemble |
|---|---|
| P J Kemble | |
| The Trust's principal address | 13 Beaulieu House |
| 93 Holders Hill Road | |
| London | |
| NW4 1JY | |
| Independent Examiner | Fisher Phillips LLP |
| Summit House | |
| 170 Finchley Road | |
| London | |
| NW3 6BP | |
| Bankers | Barclays Bank |
KEMBLE CHARITABLE TRUST
FOR THE YEAR ENDED 5 APRIL 2021
CONTENTS
| Pages | |
|---|---|
| Trustees' Report | 1-2 |
| Independent Examiner's Report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the accounts | 6-8 |
KEMBLE CHARITABLE TRUST TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2021
The Trustees present their report together with the Financial statement of the trust for the year ended 5 April 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) ''Accounting and Reporting by Charities'' (FRS102) in preparing the annual report and financial statements of the Charity.
The finacial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity's goverrning document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019.
The registered charity number of the Trust is 1000756.
The Trust's principal address is 13 Beaulieu House, 93 Holders Hill Road, London, NW4 1JY. The Trustees on the date of approval and who served during the period were as follows: J P Kemble
P J Kemble
The Trust was established by Deed of Trust dated 16th October 1990 and is registered with the Charity Commission under number 1000756.
OBJECTIVES AND ACTIVITIES
The Trust's objects are to raise and distribute funds for such charitable purpose or purposes for such charitable institution or institutions as the trustees in their absolute discretion think fit.
FINANCIAL REVIEW
The trustees are satisfied with the financial performance of the trust in this year. The results for the year can be summarised as:-
| Income Expenditure Loss on revaluation of investments Excess/(Deficit) of expenditure over income |
Unrestricted Restricted Total £ £ £ 40,902 3,175 44,077 (30,699) (3,175) (33,874) 6,915 - 6,915 |
|---|---|
| 17,118 - 17,118 |
Page 1
KEMBLE CHARITABLE TRUST TRUSTEES ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2021
STATEMENT OF TRUSTEE'S RESPONSIBILITIES
The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP 2015 (FRS 102)
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any
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disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
APPROVAL
This report was approved by the trustees on 8 December 2021 and signed on their behalf by:-
....................................................
J P Kemble
Trustee
Page 2
KEMBLE CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE KEMBLE CHARITABLE TRUST FOR THE YEAR ENDED 5 APRIL 2021
The trustees present their report together with the financial statements of the trust for the year ended 5 April 2021. The financial statements have been prepared in accordance with the accounting policies set out on pages 6 to 7 and comply with the trust deed and applicable law.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is our responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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follow the procedures laid down in the General Directions given by the Charity Commissioners under section 145(5)(b) of the 2011 Act; and
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state whether particular matters have come to our attention.
Basis of independent examiner's report
Our examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently, no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.
Independent Examiner's Statement
In connection with our examination, no matter has come to our attention:
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1) which gives us reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting
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requirements of the 2011 Act
have not been met; or
- 2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Anthony Ornstein FCA For and on behalf of Fisher Phillips LLP
Chartered Accountants Summit House 170 Finchley Road London NW3 6BP
Date: 8 December 2021
Page 3
KEMBLE CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2021
| Note Income: Income from charitable activities 2 Investment income 3 Total income Expenditure: Costs of charitable activities 4 Total expenditure Net income/(expenditure) before net gains/(losses) on investment Net gains/(losses) on investment Net movements in funds Balance brought forward at 6 April 2020 Total funds carried forward 10 at 5 April 2021 |
£ £ 40,000 3,175 902 - 40,902 3,175 30,699 3,175 30,699 3,175 10,203 - 6,915 - 17,118 - 48,444 1,760 65,562 1,760 Unrestricted funds Restricted funds |
2021 Total £ 43,175 902 44,077 33,874 33,874 10,203 6,915 17,118 50,204 67,322 |
£ £ 35,000 7,520 2,069 - 37,069 7,520 39,222 7,520 39,222 7,520 (2,153) - (19,444) - (21,597) - 70,041 1,760 48,444 1,760 Unrestricted funds Restricted funds |
2020 Total £ 42,520 2,069 |
|---|---|---|---|---|
| 44,589 | ||||
| 46,742 | ||||
| 46,742 | ||||
| (2,153) (19,444) |
||||
| (21,597) 71,801 |
||||
| 50,204 | ||||
There were no recognised gains and losses for period other than those included in the Statement of Financial Activities.
The notes on pages 6 to 8 form part of these financial statements.
Page 4
KEMBLE CHARITABLE TRUST BALANCE SHEET AS AT 5 APRIL 2021
| 2021 | 2021 | 2020 | ||||
|---|---|---|---|---|---|---|
| Notes | £ | £ £ |
£ | |||
| Fixed Assets: | ||||||
| Investments | 7 | 38,845 | 31,703 | |||
| Current assets: | ||||||
| Debtors | 8 | 6,532 | 416 | |||
| Cash at bank and in hand | 23,395 | 18,785 | ||||
| 29,927 | 19,201 | |||||
| Liabilities: | ||||||
| Creditors:Amounts falling due | ||||||
| within one year | 9 | 1,447 | 697 | |||
| Net Current assets / (liabilties) | 28,480 | 18,504 | ||||
| Total assets less current liabilities | 67,325 | 50,207 | ||||
| Capital and funds | ||||||
| Trustees capital | 3 | 3 | ||||
| Restricted funds | 10 | 1,760 | 1,760 | |||
| Unrestricted funds | 10 | 65,562 | 48,444 | |||
| Total capital and funds | 67,325 | 50,207 | ||||
| These financial statements were approved by the trustees | on | 8 December 2021 and were signed | on | |||
| their behalf by:- | ||||||
| ........................................... | ………………………………….. | |||||
| J P Kemble | P J | Kemble | ||||
| Trustee | Trustee |
The notes on pages 6 to 8 form part of these financial statements.
Page 5
KEMBLE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021
1 Accounting policies
a)
Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice published in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially
recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
Kemble Charitable Trust is a registered charity (Charity number; 1000756). The principal place of business is 13 Beaulieu House, 93 Holders Hill Road, London, NW4 1JY.
b) Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
c) Income
Incoming resources comprise donations received in the year and investment income.
d)
Donations and services
On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
e)
Interest received
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
f)
Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.
g) Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
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Costs of raising funds comprise of trading costs and the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.
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Expenditure on charitable activities includes the costs of delivering services, exhibitions and other educational activities undertaken to further the purposes of the charity and their associated support costs.
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Other expenditure represents those items not falling into any other heading.
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Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
h) Listed investments
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value will be recognised in the statement of financial activities.
Page 6
KEMBLE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021
1 Accounting policies (Cont.)
j)
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
k)
Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
l) Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
m) Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2 Income from charitable activities
3
4
| Donations received Income tax recoverable through Gift Aid Funds to provide assistance to specifically nominated individuals Income from investments Dividends from investments SCRIP dividends from investments Non Property income distributions Property investments distributions (Gross) Other income from shares Costs of Charitable Activities Charitable donations Assistance payments to nominated individuals Other charitable expenditure |
2021 2020 Unrestricted Restricted Total Total £ £ £ £ 34,000 - 34,000 30,000 6,000 - 6,000 5,000 - 3,175 3,175 7,520 |
|---|---|
| 40,000 3,175 43,175 42,520 |
|
| 2021 2020 Unrestricted Restricted Total Total £ £ £ £ 33 - 33 415 197 - 197 588 90 - 90 89 582 - 582 977 - - - - |
|
| 902 - 902 2,069 |
|
| 2021 2020 Unrestricted Restricted Total Total £ £ £ £ 20,194 - 20,194 24,961 10,390 3,175 13,565 21,650 115 - 115 131 |
|
| 30,699 3,175 33,874 46,742 |
Page 7
KEMBLE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021
5 Analysis of staff costs, trustee remuneration and expenses
The charity trustees were not paid nor received any other benefits from employment with the Trust in the year (2020: £nil) neither were they reimbursed expenses during the year (2020: £nil). No charity trustee received payment for professional or other services supplied to the charity (2020: £nil).
6
Taxation
The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
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7
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8
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9
10
Investments
| Investments | Investments | |
|---|---|---|
| Investments at fair value: Listed investments Movements Market value at the start of the year Additions at cost Net gain / (loss) on revaluation Market value at the end of the year Debtors Gift Aid recoverable Income tax recoverable Dividend receivable Residual amount Land Securities Plc Creditors Due within one year Sundry creditors Funds Transfer At Incoming Resources between 6 April 2020 resources expended funds £ £ Restricted reserves: assistance to specifically nominated individuals 1,760 3,175 (13,565) 10,390 1,760 3,175 (13,565) 10,390 Unrestricted reserves 48,444 40,902 (20,309) (10,390) 50,204 44,077 (33,874) - Funds received to provide |
2021 2020 £ £ 38,845 31,703 |
|
| 38,845 31,703 |
||
| 31,703 50,581 227 566 6,915 (19,444) |
||
| 38,845 31,703 |
||
| 2021 2020 £ £ 6,000 - 507 391 1 1 24 24 |
||
| 6,532 416 |
||
| 2021 2020 £ £ 1,447 697 |
||
| 1,447 697 |
||
| Investment At Revaluation5 April 2021 £ - 1,760 |
||
| 1,760 3,175 (13,565) 10,390 48,444 40,902 (20,309) (10,390) |
- 1,760 6,915 65,562 |
|
| 50,204 44,077 (33,874) - |
6,915 67,322 |
Page 8