2020-11-30-accounts - The Eric Twiname Trust

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Trustees' Annual Report for the period

Period start date Period end date 1st December 2021 30th November 2022

From

Section A Reference and administration details

Charity name Other names charity is known by Registered charity number (if any) 1002313

THE ERIC TWINAME TRUST

Charity's principal address 26 Ashcombe Avenue Surbiton Surrey Postcode KT6 6QA

Names of the charity trustees who manage the charity

Trustee name	Office (if any)	Name of person (or body) entitled to appoint trustee (ifany)
Peter Whipp	Chairman	Eric Twiname Trust trustees
John Reed		Eric Twiname Trust trustees
Duncan Truswell		Eric Twiname Trust trustees
Jim Kirkpatrick		Eric Twiname Trust trustees
Jon Denwood		Eric Twiname Trust trustees
Bruce Aitken	Secretary	Eric Twiname Trust trustees

Names of the trustees for the charity, if any, (for example, any custodian trustees)

Name Dates acted if not for whole year

TAR

March 2012

Names and addresses of advisers (Optional information)

Names and addresses of advisers (Optional information)	Names and addresses of advisers (Optional information)	Names and addresses of advisers (Optional information)
Type of adviser Name Address
Independent Examiner	CMA Simon FCA	13 Malt House Close, Old Windsor, Berkshire SL4 2SD
Bankers	HSBC Bank plc	74 High Street, Alton, Hampshire GU34 1EZ

Name of chief executive or names of senior staff members (Optional information)

Section B Structure, governance and management

Description of the charity’s trusts

Trust Deed - dated 9[th] January 1991 as amended by Supplemental Deed Type of governing document dated 6[th] October 2010. (eg. trust deed, constitution) Trust How the charity is constituted (eg. trust, association, company) New trustees are appointed by the full committee of existing trustees, after Trustee selection methods instigating appropriate background checks and references, and being (eg. appointed by, elected by) satisfied that any candidate will contribute to the successful management and charitable objectives of the trust. As the trust was set up in memory of Eric Twiname, renowned dinghy sailor, journalist and author, due regard is placed on a candidate’s empathy with the trust’s aims to perpetuate Eric’s diverse sailing interests, principally those that arose out of his teaching and coaching of young dinghy sailors.

(eg. trust, association, company)

Additional governance issues (Optional information)

You may choose to include additional information, where relevant, about:

policies and procedures adopted for the induction and training of trustees;
the charity’s organisational All trustees give their time voluntarily and receive no remuneration or structure and any wider expenses. The day-to-day management of the trust is vested in the network with which the charity secretary whilst all decisions involving funding and grants are made on a works; majority voting basis.
relationship with any related parties;
The trustees can confirm that any major risks identified as being those to
• trustees’ consideration of which the charity might be exposed have been and are continually major risks and the system reviewed, with procedures in place to manage them. The trustees can also and procedures to manage confirm that there have been no serious incidents during 2022 that should them. have been drawn to the Charity Commission’s attention.

Section C Objectives and activities

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March 2012

To organise, provide or assist in the organisation and provision of facilities which will enable and encourage pupils of schools and Summary of the objects of the universities in the United Kingdom to sail or yacht race or to participate in charity set out in its any activity associated solely with yachting thereby to assist in ensuring governing document that due attention is given to the physical education and development of such pupils as well as to the development and occupation of their minds. Major activities include the funding of the purchase of training dinghies and equipment for sailing clubs and associations. Particular regard is paid to those organisations that are unable to raise all the necessary funds for such equipment and notably to assist disadvantaged youngsters to access and benefit from the sport of sailing. Emphasis is placed on the ‘grass roots’ end of the sport and the need to provide encouragement to clubs to help youngsters on to the water. Summary of the main The trust also provides financial support for the cost of two premier activities undertaken for the national annual sailing championship events. (see Section D below). public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance Declaration: The trustees can confirm that in their support for the amateur issued by the Charity sport of youth sailing they have complied with their duty to have due Commission on public regard to the Commission’s guidance on public benefit. benefit)

Additional details of objectives and activities (Optional information)

The trust’s policy on grant making is firstly to ensure that with any application it will be pupils in full-time education that will benefit. Secondly You may choose to include the aim is always to put such grants to optimum effect by maximising further statements, where funding across as many worthy recipients as possible, whilst always relevant, about: ensuring that it provides a long lasting benefit. As such the trust does not • policy on grantmaking; policy on grantmaking; provide grants to individuals - only to bone-fide sailing organisations.

policy on grantmaking; policy on grantmaking;
policy programme related investment;

Where applicants cannot satisfy trust criteria for a grant, as far as possible an explanation is given in response and advice offered as to what alternatives (including approaching other relevant charities) there are to help them pursue their aims and raise the necessary funds.

contribution made by volunteers.

Section D Achievements and performance

TAR

March 2012

Section D Achievements and erformance p General - Dinghies for Club Training – during 2022 the trust has made Summary of the main partial or full grants to some 9 clubs, to assist with the purchase of a total achievements of the charity of 23 new dinghies and 12 suits of sails. during the year Within this total is a completed 12[th ] successive RS Tera scheme whereby the trust subsidises each dinghy (total of 25 boats per project), whilst the manufacturer also heavily discounts its normal retail price. Aimed at the ‘grass roots’ end of the sport, notably to clubs that encourage local community participation and support for disadvantaged children, this initiative has helped a large number of youngsters on to the water with the establishment of Junior fleets and Junior race training programmes. A 13[th] scheme has also commenced (again with a total of 25 boats). RYA Eric Twiname Championships – the trust contributes significantly to the cost of this premier national multi-class annual event. It usually attracts up to 300 junior competitors aged between 8 and 15, representing the nine RYA regions and competing in four dinghy/ four windsurfer classes. In 2022 this event was held again successfully at Rutland Sailing Club where it saw a record number of 357 entrants. RYA Eric Twiname National Youth & Junior Team Racing Championships – the trust contributes significantly towards the cost of this annual event which is run over a weekend in October and usually attracts up to 275 sailors competing in up to 55 teams entered by clubs, class associations and schools. In 2022 this event was held although the plan to allow an increase in the number of Junior competitors had to be curbed due to the low water level at Farmoor Reservoir, notwithstanding still resulting in 28 Youth and 29 Junior teams achieving an extraordinary number of races - 407 Youth and 438 Junior.

Section E Financial review

The trust’s reserves policy is to retain a sensible level of capital for future Brief statement of the funding. This is primarily aimed at maintaining the regular financial charity’s policy on reserves support the Trust gives to two annual sailing championships as well as a general level of grants awarded annually for the purchase of dinghies and equipment. Generally the aim is for up to 7 year’s planned expenditure to be maintained. Additional revenue is derived from fundraising events and donations. Details of any funds materially None in deficit

Further financial review details (Optional information)

TAR

March 2012

You may choose to include additional information, where relevant about:

the charity’s principal sources of funds (including any fundraising);
how expenditure has supported the key objectives of the charity;

The trust’s income derived originally from the investment legacy of Eric Twiname’s father but has since been bolstered by at least two other major legacies. Dividend and interest payments are relied upon for regular income, with sales of assets such as unit trusts instigated only as and when required. A financial sub-committee of three trustees looks after the trust’s investments.

investment policy and objectives including any ethical investment policy adopted.

Section F Other optional information

Section G Declaration

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Peter Thomas Whipp Peter Bruce Aitken Position (eg Secretary, Chair, Chairman Secretary etc) Date 25 January 2023

TAR

March 2012

ERIC TWINAME TRUST

RECEIPTS AND PAYMENTS ACCOUNT

YEAR ENDED 30 NOVEMBER 2022

Unrestricted Funds General Investment Fund Fund £ £ 221 - - - 6,000 - 44 - 14,656 - 68 - 20,989 - - 50,000 - 50,000 20,989 50,000 ========= ========= 216 - 2,100 - - - 14,000 - 6,500 - 14,602 - 1,289 - 400 - 39,107 - 39,107 - ========= ========= (18,118) 50,000 50,000 (50,000) 26,985 - 58,867 - ======== ========	Unrestricted Funds General Investment Fund Fund £ £ 221 - - - 6,000 - 44 - 14,656 - 68 - 20,989 - - 50,000 - 50,000 20,989 50,000 ========= ========= 216 - 2,100 - - - 14,000 - 6,500 - 14,602 - 1,289 - 400 - 39,107 - 39,107 - ========= ========= (18,118) 50,000 50,000 (50,000) 26,985 - 58,867 - ======== ========	2021 £ 326 6,090 - 94 11,871 3
General Fund £ 221 - 6,000 44 14,656 68 20,989 - - 20,989 ========= 216 2,100 - 14,000 6,500 14,602 1,289 400 39,107 39,107 ========= (18,118) 50,000 26,985 58,867 ========
		18,384
		-
		-
==	===	18,384 ========= 216 5,880 2,400 - - 9,480 1,097 400
		19,473
==	===	19,473 ========= (1,089) - 28,074 26,985 ========

Page 2

ERIC TWINAME TRUST

STATEMENT OF ASSETS AND LIABILITIES

AT 30 NOVEMBER 2022

Cash funds Balances at Bankers *Total cash funds* Investment assets at market value Authorised Unit Trusts Liabilities ET Junior and Youth Team Racing Championship 2022 Feva sails for team racing boats Administration expenses Independent Examiner's fee *Net asset value at 30th November 2022*	Notes 5	Unrestricted Funds General Investment Fund Fund £ £ 58,867 - 58,867 - - 262,442 - 262,442 8,000 - 5,963 - - 400 - 14,363 - 44,504 262,442 ======== ========	Unrestricted Funds General Investment Fund Fund £ £ 58,867 - 58,867 - - 262,442 - 262,442 8,000 - 5,963 - - 400 - 14,363 - 44,504 262,442 ======== ========	Total 2022 £ 58,867 58,867 262,442 262,442 8,000 5,963 - 400 14,363 306,946 ========	2021 £ 26,985
		General Fund £ 58,867 58,867 - - 8,000 5,963 - 400 14,363 44,504 ========
					26,985
					308,630
					308,630
					6,500 - 4 400
					6,904
					328,711 ========

Approved by the Trustees on 25th January 2023 and signed on behalf of all the trustees:

…………………………………….. Trustee

Page 3

Registered Charity No. 1002313

ERIC TWINAME TRUST

RECEIPTS AND PAYMENTS ACCOUNTS YEAR ENDED 30 NOVEMBER 2022

C.M.A.Simon F.C.A. Chartered Accountant 13 Malt House Close Old Windsor Berkshire SL4 2SD

ERIC TWINAME TRUST

Independent Examiner's Report to the Trustees of the Eric Twiname Trust

I report to the trustees on my examination of the accounts of the Eric Twiname Trust (the Trust) for the year ended 30 November 2022.

Responsibilities and basis of report

As the charity trustees of the Trust 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 Trust’s accounts carried out under section 145 of the 2011 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:

accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
the accounts do not accord with those records.

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.

13 Malt House Close Old Windsor Berkshire SL4 2SD

C.M.A.Simon F.C.A. Chartered Accountant

Date: