REGISTERED CHARITY NUMBER: 1002755
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
FOR
THE SCURRAH WAINWRIGHT CHARITY
Bairstow and Atkinson Chartered Accountants Carlton House Bull Close Lane Halifax West Yorkshire HX1 2EG
THE SCURRAH WAINWRIGHT CHARITY
CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 5 April 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 12 |
| Detailed Statement of Financial Activities | 13 |
THE SCURRAH WAINWRIGHT CHARITY
REPORT OF THE TRUSTEES for the Year Ended 5 April 2023
The trustees present their report with the financial statements of the charity for the year ended 5 April 2023. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The trustees hold the capital and income upon trust to apply the income and all or part of the capital for charitable purposes and to make donations to charitable institutions at such times and in such a manner as the trustees may in their absolute discretion think fit.
The aim of the charity is to support a wide range of charitable projects, with an emphasis on social reform both in Britain and abroad.
Significant activities
The charity's main activity is investment in order to support the payment of grants.
Public benefit
All approved grants are considered by the trustees to be for public benefit. In providing this support, the trustees have had due regard to the guidance published by the Charity Commission on public benefit.
Grantmaking
The charity invites applications for funding through directories of grant-making trusts and through its website www.wainwrighttrusts.org.uk. Applicants are invited to submit background information about themselves, the project they intend to pursue and details of its practical implementation, together with budgets and other sources of finance. The charity gives strong consideration to applications from the Yorkshire region as well as to those from Southern Africa, particularly Zimbabwe. The trustees require feedback on the actual use of grants awarded and the achievements made in order to monitor and assess the quality of grants made.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year the charity has been able to provide grants to support forty six organisations with diverse aims and for the benefit of countless individuals.
Fundraising activities
The charity does not actively raise funds.
Investment performance
The charity relies on its investment managers, Close Brothers Asset Management, to manage investment income to support the charity's grant-making activity.
FINANCIAL REVIEW
Reserves policy
All income is distributed every year with none being held in reserve; the reserves held by the charity are purely of a capital nature. This capital reserve is held in order to generate future investment income to enable grants to be made in future years.
Funds in deficit
An element of capital may be distributed each year which may result in the revenue reserve falling into deficit.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The charity takes its name from Henry Scurrah Wainwright OBE who was a chartered accountant and social reformer. He was instrumental in founding and growing the Leeds medical company Chas F Thackray Ltd. The charity was originally endowed through funds from the sale of that company in 1990.
Recruitment and appointment of new trustees
Appointments are based on the unanimous agreement of all trustees. New trustees may be appointed at any time but so that the total number of trustees shall at no time exceed eight.
Organisational structure
The trustees meet three times a year to assess grant applications for approval or refusal.
Page 1
THE SCURRAH WAINWRIGHT CHARITY
REPORT OF THE TRUSTEES for the Year Ended 5 April 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Induction and training of new trustees
MS Wainwright is responsible for the induction of any new trustee. Such induction would include awareness of a trustee's responsibilities, the governing document, administrative procedures and the history and philosophical approach of the charity. A new trustee would also receive copies of the previous year's annual report and accounts and a copy of the Charity Commission document "The Essential Trustee: what you need to know, what you need to do".
Related parties
The Andrew Wainwright Reform Trust Limited is a related party under common control.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1002755
Principal address The Barn Thrupp Kidlington Oxford OX5 1JY
Trustees M S Wainwright H P I Scott H A Wainwright P Wainwright T M Wainwright
Independent Examiner
Bairstow and Atkinson Chartered Accountants Carlton House Bull Close Lane Halifax West Yorkshire HX1 2EG
Advisers
Close Brothers Asset Management 10 Exchange Square Primrose Street London EC2A 2BY
Approved by order of the board of trustees on 17 November 2023 and signed on its behalf by:
M S Wainwright - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SCURRAH WAINWRIGHT CHARITY
Independent examiner's report to the trustees of The Scurrah Wainwright Charity
I report to the charity trustees on my examination of the accounts of The Scurrah Wainwright Charity (the Trust) for the year ended 5 April 2023.
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 Act and in carrying out my examination I have followed all 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 2. the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
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.
P Dyson FCA
Bairstow and Atkinson Chartered Accountants Carlton House Bull Close Lane Halifax West Yorkshire HX1 2EG
17 November 2023
Page 3
THE SCURRAH WAINWRIGHT CHARITY
STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 5 April 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Investment income 2 Total EXPENDITURE ON Raising funds 3 Charitable activities Grants to charitable projects with emphasis on social reform Other Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
5.4.23 Unrestricted fund £ 28,750 76,142 104,892 22,225 172,656 9,944 204,825 (106,982) (206,915) 2,968,257 2,761,342 |
5.4.22 Total funds £ 2,600 73,111 |
|---|---|---|
| 75,711 | ||
| 23,654 162,085 9,260 |
||
| 194,999 | ||
| 199,582 | ||
| 80,294 2,887,963 |
||
| 2,968,257 |
The notes form part of these financial statements
Page 4
THE SCURRAH WAINWRIGHT CHARITY
BALANCE SHEET
5 April 2023
| Notes FIXED ASSETS Investments 7 CURRENT ASSETS Debtors 8 Cash at bank CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 11 Unrestricted funds TOTAL FUNDS |
5.4.23 Unrestricted fund £ 2,625,562 8,255 178,560 186,815 (51,035) 135,780 2,761,342 2,761,342 2,761,342 2,761,342 |
5.4.22 Total funds £ 2,769,096 3,046 245,280 248,326 (49,165) 199,161 2,968,257 2,968,257 2,968,257 2,968,257 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 17 November 2023 and were signed on its behalf by:
M S Wainwright - Trustee
The notes form part of these financial statements
Page 5
THE SCURRAH WAINWRIGHT CHARITY
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 5 April 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| Franked investment income Unfranked investment income Deposit account interest Interest on investments |
5.4.23 £ 53,472 7,268 41 15,361 76,142 |
5.4.22 £ 49,165 7,243 2 16,701 |
| 73,111 |
Page 6
continued...
THE SCURRAH WAINWRIGHT CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 5 April 2023
3. RAISING FUNDS
Investment management costs
4.
| Investment management costs | |||
|---|---|---|---|
| Portfolio management GRANTS PAYABLE Grants to charitable projects with emphasis on social reform The total grants paid to institutions during the year was as follows: UK national projects North of England Zimbabwe & South Africa |
5.4.23 £ 22,225 5.4.23 £ 172,656 5.4.23 £ 31,125 127,531 14,000 172,656 |
5.4.22 £ 23,654 5.4.22 £ 162,085 |
5.4.22 £ 23,654 |
| 5.4.22 £ 5,000 142,855 14,230 |
|||
| 162,085 |
continued...
Page 7
THE SCURRAH WAINWRIGHT CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 5 April 2023
4. GRANTS PAYABLE - continued
| North of | United | Zimbabwe & | |||
|---|---|---|---|---|---|
| England | Kingdom | South Africa | |||
| Advice at Hart CIC | 5,000 | ||||
| Advice for Renters Ltd (Fair Housing) | 5,000 | ||||
| Agnes Foundation | 3,000 | ||||
| Alternative to Violence Project Britain | 2,855 | ||||
| Amandla Trust | 2,000 | ||||
| Ash (Yorkshire) CIC | 4,000 | ||||
| Batley Community Outreach Centre | 4,000 | ||||
| BD4 Community | Trust Ltd | 4,086 | |||
| Bishop Simeon | Trust | 4,000 | |||
| Blank Canvas | 5,000 | ||||
| Bradford Stories Hub (National Literacy Trust) | 5,000 | ||||
| Brathay Trust | 2,500 | ||||
| CEAD - Community Education Adults Disabilities | 1,400 | ||||
| CLASS - Community Leeds After School Study Support | 5,000 | ||||
| Creating Better | Futures | -2,500 | |||
| Development Education Centre South Yorkshire | 4,000 | ||||
| Freedom4Girls | 2,500 | ||||
| Friends of Hebden Bridge Picture House | 5,000 | ||||
| Great Central Gazette Ltd | 2.000 | ||||
| Grow, Sheffield | 4,205 | ||||
| Honley Village Community Trust | 4,000 | ||||
| Hope at Home | 4,000 | ||||
| Hope for Kids, Zimbabwe | 5,000 | ||||
| JPC Community Farm | 3,000 | ||||
| Leeds N. and E. Circuit of Methodist Church | 5,000 | ||||
| Leeds Space Network | 4,000 | ||||
| Maya Productions Ltd | 4,000 | ||||
| MicroLoan Foundation, Zimbabwe | 5,000 | ||||
| Milton Keynes Quaker Meeting | 5,000 | ||||
| Mum's in Need | 2,100 | ||||
| Muslim Women's Council | 4,000 | ||||
| New Hall Kidz Ltd | 5,000 | ||||
| Northgate Preschool and Toddlers | 4,000 | ||||
| Peak Tuition Academy | 2,500 | ||||
| Pitstops Films | 5,000 | ||||
| Safari Catering | CIC | 3,000 | |||
| Shaw Lane Foundation | 3,000 | ||||
| Sona Tech CIC | 3,800 | ||||
| Survivors of Torture Activity Fund | 2,500 | ||||
| Talking About Loss | 5,000 | ||||
| The Disability Union CIC | 3,970 | ||||
| The Montgomery Theatre and Arts Centre | 3,000 | ||||
| The Thursday Club | 4,000 | ||||
| Voz Theatre | 2,500 | ||||
| WHISH - Whitby | Hidden Impairments Support and Help | 4,740 | |||
| Willows Nook Equine Assisted Learning CIC | 2,500 | ||||
| Working Class Economists Group | 5,000 | ||||
| TOTAL | 127,531 | 31,125 | 14,000 |
continued...
Page 8
THE SCURRAH WAINWRIGHT CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 5 April 2023
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 5 April 2023 nor for the year ended 5 April 2022.
Trustees' expenses
Travel & meeting expenses claimed amounted to £Nil (2022: £Nil).
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Raising funds Charitable activities Grants to charitable projects with emphasis on social reform Other Total Net gains on investments NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 7. FIXED ASSET INVESTMENTS MARKET VALUE At 6 April 2022 Additions Disposals Revaluations At 5 April 2023 NET BOOK VALUE At 5 April 2023 At 5 April 2022 |
Unrestricted fund £ 2,600 73,111 |
|
|---|---|---|
| 75,711 | ||
| 23,654 162,085 9,260 |
||
| 194,999 | ||
| 199,582 | ||
| 80,294 2,887,963 |
||
| 2,968,257 | ||
| Listed investments £ 2,769,096 449,462 (392,289) (200,707) 2,625,562 2,625,562 2,769,096 |
||
continued...
Page 9
THE SCURRAH WAINWRIGHT CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 5 April 2023
7. FIXED ASSET INVESTMENTS - continued
| Analysis of investments between UK and other: | Analysis of investments between UK and other: | 2023 | 2022 | |
|---|---|---|---|---|
| UK investments | 1,709,792 | 1,723,770 | ||
| Foreign investments | 915,770 | 990,857 | ||
| Total investments | 2,625,562 | 2,714,627 | ||
| Material investments held at the year end | 2023 | 2023 | 2022 | 2022 |
| Cost | Value | Cost | Value | |
| Apple Inc Com | 17,774 | 118,403 | 35,547 | 240,022 |
| Bankers Investment Trust | - | - | 65,064 | 107,600 |
| Leeds Group Plc | 654,897 | 42,437 | 654,897 | 62,806 |
| Shell | 70,608 | 94,520 | 70,608 | 84,840 |
| Unilever | 24,786 | 77,261 | 24,786 | 63,617 |
| Visa Inc Com | 29,403 | 73,315 | 29,403 | 68,940 |
| Cost or valuation at 5 April 2023 is represented by: Valuation in 2015 Valuation in 2016 Valuation in 2017 Valuation in 2018 Valuation in 2019 Valuation in 2020 Valuation in 2021 Valuation in 2022 Valuation in 2023 Cost |
Listed investments £ (298,566) (182,485) 236,428 (11,471) 67,412 (567,817) 599,588 143,798 (200,707) 2,839,382 2,625,562 |
|---|---|
8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|
| 5.4.23 | 5.4.22 | |
| £ | £ | |
| The Andrew Wainwright Reform Trust Limited | 46 | 122 |
| Tax | 6,530 | 1,245 |
| Prepayments and accrued income | 1,679 | 1,679 |
| 8,255 | 3,046 |
continued...
Page 10
THE SCURRAH WAINWRIGHT CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 5 April 2023
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Bank loans and overdrafts (see note 10) Accrued expenses LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank overdrafts MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 104,892 TOTAL FUNDS 104,892 Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS |
At 6.4.22 £ 2,968,257 2,968,257 Resources expended £ (204,825) (204,825) At 6.4.21 £ 2,887,963 2,887,963 |
5.4.23 £ 41,690 9,345 51,035 5.4.23 £ 41,690 Net movement in funds £ (206,915) (206,915) Gains and losses £ (106,982) (106,982) Net movement in funds £ 80,294 80,294 |
5.4.22 £ 39,570 9,595 49,165 5.4.22 £ 39,570 At 5.4.23 £ 2,761,342 2,761,342 Movement in funds £ (206,915) (206,915) At 5.4.22 £ 2,968,257 2,968,257 |
|
|---|---|---|---|---|
10. LOANS
11. MOVEMENT IN FUNDS
continued...
Page 11
THE SCURRAH WAINWRIGHT CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 5 April 2023
11. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 75,711 75,711 |
Resources expended £ (194,999) (194,999) |
Gains and Movement losses in funds £ £ 199,582 80,294 199,582 80,294 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 6.4.21 £ 2,887,963 2,887,963 |
Net movement in funds £ (126,621) (126,621) |
At 5.4.23 £ 2,761,342 2,761,342 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 180,603 | (399,824) | 92,600 | (126,621) |
| TOTAL FUNDS | 180,603 | (399,824) | 92,600 | (126,621) |
12. RELATED PARTY DISCLOSURES
There were no related party transactions in the reporting period that require disclosure.
13. ULTIMATE CONTROLLING PARTY
The charity is controlled jointly by its trustees.
14. GAINS AND LOSSES ON INVESTMENT ASSETS
There are total losses of £106,982 shown on the face of the Statement of Financial Activities. An analysis of these gains/(losses) is shown below.
| An analysis of these gains/(losses) is shown below. | |||
|---|---|---|---|
| Realised | Unrealised | Total | |
| Fixed asset investments | 93,725 | (200,707) | (106,982) |
| Investment property | - | - | -- |
| Total | 93,725 | (200,707) | (106,982) |
Page 12
THE SCURRAH WAINWRIGHT CHARITY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 5 April 2023
| INCOME AND ENDOWMENTS Donations and legacies Donations Investment income Franked investment income Unfranked investment income Deposit account interest Interest on investments Total incoming resources EXPENDITURE Investment management costs Portfolio management Charitable activities Grants to institutions Support costs Management Postage and stationery Sundries Secretarial support Finance Bank charges Governance costs Accountancy and legal fees Total resources expended Net expenditure before gains and losses Realised recognised gains and losses Realised gains/(losses) on fixed asset investments Net expenditure |
5.4.23 £ 28,750 53,472 7,268 41 15,361 76,142 104,892 22,225 172,656 332 94 5,665 6,091 133 3,720 204,825 (99,933) 93,725 (6,208) |
5.4.22 £ 2,600 49,165 7,243 2 16,701 73,111 75,711 23,654 162,085 137 145 5,097 5,379 161 3,720 194,999 (119,288) 55,784 (63,504) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 13