REGISTERED CHARITY NUMBER: 1007105
The Clare Mann Bursary Fund
Clare Mann Bursary Fund
Report of the Trustees and
Audited Financial Statements
for the Year Ended 31 December 2022
Knights Lowe Limited
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR
The Clare Mann Bursary Fund
Clare Mann Bursary Fund
Contents of the Financial Statements for the Year Ended 31 December 2022
|
Page |
Reference and Administrative Details |
1 |
Report of the Trustees |
2 to 3 |
Report of the Independent Auditors |
4 to 7 |
Statement of Financial Activities |
8 |
Balance Sheet |
9 |
Notes to the Financial Statements |
10 to 17 |
Detailed Statement of Financial Activities |
18 |
The Clare Mann Bursary Fund
Clare Mann Bursary Fund
Reference and Administrative Details for the Year Ended 31 December 2022
TRUSTEES |
Gary Caughey |
|
Barbara Stuchfield |
|
Pat Langstone |
|
Anne Gee |
|
Janice Parke |
PRINCIPAL ADDRESS |
The Royal London Hospital |
|
Whitechapel Road |
|
London |
|
London |
|
E1 1FR |
REGISTERED CHARITY NUMBER |
1007105 |
INDEPENDENT AUDITORS |
Knights Lowe Limited |
|
Eldo House |
|
Kempson Way |
|
Suffolk Business Park |
|
Bury St Edmunds |
|
Suffolk |
|
IP32 7AR |
INVESTMENT MANAGERS |
Coutts & Co |
|
440 Strand |
|
London |
|
WC2R 0QS |
Page 1
The Clare Mann Bursary Fund Clare Mann Bursary Fund
Report of the Trustees for the Year Ended 31 December 2022
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended31December 2022.
ThetrusteeshaveadoptedtheprovisionsofAccountingandReportingbyCharities:Statementof Recommended
PracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting Standard
applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
TheCharitywasestablishedtoprovideassistancetoanymemberof theLeagueandcurrentmembersof the nursing
staff with grants for educationalpurposes,or for assistancewith expenses incurredwhile gainingexperienceuseful for
work.
Public benefit
The Trusteeshave given considerationto the questionof the Charity'sstatus,with specialregardto the benefitof the
communitybeyondits own membership.They have referredto the guidelineson the CharityCommissionwebsite and
are satisfied that both its activities and its use of funds fully justify its charitable status.
TheyhavealsogivenregardtotheCharityCommissionGuidelinesonpublicbenefitinformingtheobjectives and
activities of the charity.
Grantmaking
The grants and outgoings are provided from the income generated from the monies held in the Clare Mann Fund.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Allourcharitableactivitiesfocusonassessingtheapplicationsofeligiblenursestoundertakestudy,exchange or
travel that will enhance the care of patients.
TheClareMannBursaryFundcontainsfundsdonatedbyfamilyandcolleaguesinmemoryofstaff.Thefundhas an
agreementsthatthebursariesbegiventoanurseornursesinrelationfortraining,inrelationtotheir chosen
specialism.
Decisionstoawardbursariesareundertakenbythecommitteeasapplicationsarereceived,aminimumof three
members of the committee are required to be involved.
Fundraising activities
The Royal London Hospital Clare Mann Bursary Fund does not carry out any fundraising activities.
FINANCIAL REVIEW
Financial position
Reserves rose from £137,812 at 31 December 2021 to £163,519 at 31 December 2022.
Principal funding sources
Funding is principally from income generated by the investment portfolio.
Reserves policy
ThegrantsandoutgoingsareprovidedfromtheincomegeneratedfromthemoniesheldintheClareMann Bursary
Fund and associated funds.
The Trusteesrequirethat the capitalof the fundand all legaciesare investedand the interestused for the purpose of
the charity.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Page 2
The Clare Mann Bursary Fund Clare Mann Bursary Fund
Report of the Trustees for the Year Ended 31 December 2022
The name of the charity is The Clare Mann Bursary Fund.
The charity was established by Trust Deed dated 18 December 1990.
Recruitment and appointment of new trustees
The President and the Honorary Treasurer automatically stand as Trustees of the Clare Mann Bursary Fund.
Theyare appointedforthreeyears,butmay standforre-electionby the ExecutiveCommittee.Threeother members
of the Executive Committee are elected to be Trustees and, again, they stand for three years but may be re-elected.
Organisational structure
The Clare Mann BursaryFund is managedby Trustees who are responsiblefor the entire administration, management
and day to day control of the Charity.
Risk management
Thetrusteeshaveadutytoidentifyandreviewtheriskstowhichthecharityisexposedandtoensure appropriate
controls are in place to provide reasonable assurance against fraud and error.
Thetrusteesreviewthemajoroperationalriskswhichthecharityfacesandensurethatsystemsareinplace to
mitigate those risks.
The trustees consultat any time considerednecessarywith the fund manager of the charityfor the specific purpose of
assessing financial performance.
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trusteesare responsiblefor preparingthe Reportof the Trusteesand the financialstatementsin accordance with
applicablelawandUnitedKingdomAccountingStandards(UnitedKingdomGenerallyAcceptedAccounting Practice)
includingFinancialReportingStandard102"TheFinancialReportingStandardapplicableintheUKandRepublic of
Ireland".
ThelawapplicabletocharitiesinEnglandandWales,theCharitiesAct2011,Charity(Accountsand Reports)
Regulations2008andtheprovisionsofthetrustdeedrequiresthetrusteestopreparefinancialstatementsfor each
financialyearwhichgiveatrueandfairviewofthestateofaffairsofthecharityandoftheincomingresources and
applicationofresources,includingtheincomeandexpenditure,ofthecharityforthatperiod.Inpreparing those
financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewithreasonableaccuracyat any
time the financialpositionof the charityandto enablethem to ensurethatthe financialstatementscomplywith the
CharitiesAct 2011, the Charity(Accountsand Reports)Regulations2008 and the provisionsof the trust deed. They are
alsoresponsibleforsafeguardingtheassetsofthecharityandhencefortakingreasonablestepsforthe prevention
and detection of fraud and other irregularities.
Approved by order of the board of trustees on 9 June 2023 and signed on its behalf by:
Trustee
Page 3
Report of the Independent Auditors to the Trustees of The Clare Mann Bursary Fund
Opinion
WehaveauditedthefinancialstatementsofTheClareMannBursaryFund(the'charity')fortheyear ended
31 December2022whichcomprisethe Statementof FinancialActivities,the BalanceSheetandnotesto the financial
statements,includingasummaryofsignificantaccountingpolicies.Thefinancialreportingframeworkthathas been
appliedintheirpreparationisapplicablelawandUnitedKingdomAccountingStandards(UnitedKingdom Generally
AcceptedAccountingPractice),includingFinancialReportingStandard102'TheFinancialReporting Standard
applicable in the UK and Republic of Ireland'.
In our opinion the financial statements:
-
give a true and fair view of the state of the charity's affairs as at 31 December 2022 and of its incoming resources and application of resources, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and
-
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
WeconductedourauditinaccordancewithInternationalStandardsonAuditing(UK)(ISAs(UK))andapplicable law.
OurresponsibilitiesunderthosestandardsarefurtherdescribedintheAuditors'responsibilitiesfortheauditof the
financialstatementssectionofourreport.Weareindependentofthecharityinaccordancewiththe ethical
requirementsthat are relevantto our auditof the financialstatementsin the UK, includingthe FRC's Ethical Standard,
andwehavefulfilledourotherethicalresponsibilitiesinaccordancewiththeserequirements.Webelievethat the
audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditingthe financialstatements,we have concludedthat the trustees' use of the going concernbasis of accounting
in the preparation of the financial statements is appropriate.
Basedontheworkwehaveperformed,wehavenotidentifiedanymaterialuncertaintiesrelatingtoevents or
conditionsthat,individuallyorcollectively,maycastsignificantdoubtonthecharity'sabilitytocontinueasa going
concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilitiesand the responsibilitiesof the trusteeswith respect to goingconcernare describedin the relevant
sections of this report.
Other information
Thetrusteesareresponsiblefortheotherinformation.Theotherinformationcomprisestheinformationincluded in
the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationand,excepttotheextent otherwise
explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadtheotherinformationand, in
doingso,considerwhethertheotherinformationismateriallyinconsistentwiththefinancialstatementsor our
knowledgeobtainedintheauditorotherwiseappearstobemateriallymisstated.Ifweidentifysuch material
inconsistenciesorapparentmaterialmisstatements,wearerequiredtodeterminewhetherthisgivesriseto a
materialmisstatementin the financialstatementsthemselves.If, based on the work we have performed,we conclude
thatthereis a materialmisstatementof thisotherinformation,we are requiredto reportthatfact.We have nothing
to report in this regard.
Matters on which we are required to report by exception
We have nothingto reportin respect of the followingmatters where the Charities(Accountsand Reports) Regulations
2008 requires us to report to you if, in our opinion:
-
the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
-
sufficient accounting records have not been kept; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
we have not received all the information and explanations we require for our audit.
Page 4
Report of the Independent Auditors to the Trustees of The Clare Mann Bursary Fund
Responsibilities of trustees
As explainedmore fully in the Statementof Trustees'Responsibilities,the trusteesare responsiblefor the preparation
ofthefinancialstatementswhichgivea trueandfairview,andforsuchinternalcontrolasthetrusteesdetermine is
necessaryto enablethe preparationof financialstatementsthat are free from materialmisstatement,whetherdue to
fraud or error.
Inpreparingthefinancialstatements,thetrusteesareresponsibleforassessingthecharity'sabilitytocontinueas a
goingconcern,disclosing,asapplicable,mattersrelatedtogoingconcernandusingthegoingconcernbasis of
accountingunlessthetrusteeseitherintendtoliquidatethecharityortoceaseoperations,orhaveno realistic
alternative but to do so.
Page 5
Report of the Independent Auditors to the Trustees of
The Clare Mann Bursary Fund
Our responsibilities for the audit of the financial statements
WehavebeenappointedasauditorsunderSection144oftheCharitiesAct2011andreportinaccordancewith the
Act and relevant regulations made or having effect thereunder.
Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefree from
materialmisstatement,whether due to fraud or error, and to issue a Report of the IndependentAuditorsthat includes
ouropinion.Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatanauditconducted in
accordancewithISAs(UK)willalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarise from
fraudorerrorandareconsideredmaterialif,individuallyorintheaggregate,theycouldreasonablybeexpected to
influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Ourapproachtoidentifyingandassessingtherisksofmaterialmisstatementinrespectofirregularities, including
fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the charity through discussions with the trustees and
other management, and from our knowledge and experience of the charity's operating sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the
financial statements or the operations of the charity, including the Charities Act 2011, taxation legislation, data
protection, anti-bribery, employment, environmental and health and safety legislation;
-weassessedtheextentofcompliancewiththelawsandregulationsidentifiedabovethroughmakingenquiries of
management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained
alert to instances of non-compliance throughout the audit.
Weassessedthesusceptibilityofthecharity'sfinancialstatementstomaterialmisstatement,includingobtaining an
understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their
knowledge of actual, suspected and alleged fraud; or;
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and
regulations;
To address the risk of fraud through management bias and override of controls, we:
-
performed analytical procedures to identify any unusual or unexpected relationships;
-
tested journal entries to identify unusual transactions;
-
assessed whether judgements and assumptions made in determining the accounting estimates were indicative of
-
potential bias;
-
investigated the rationale behind significant or unusual transactions;
In responseto the risk of irregularitiesandnon-compliancewithlaws andregulations,we designedprocedures which
included, but were not limited to:
-
agreeing financial statement disclosures to underlying supporting documentation;
-
reading the minutes of meetings of those charged with governance;
-
enquiring of management as to actual and potential litigation and claims;
-
reviewing any correspondence with HMRC, relevant regulators including the Charity Commission and the charity's legal advisors;
There are inherentlimitationsin ourauditproceduresdescribedabove.The more removedthatlaws and regulations
arefromfinancialtransactions,thelesslikelyitisthatwewouldbecomeawareofnon-compliance. Auditing
standardsalsolimitthe auditproceduresrequiredto identifynon-compliancewithlaws andregulationsto enquiry of
the trustees and other management and the inspection of regulatory and legal correspondence, if any.
Page 6
Report of the Independent Auditors to the Trustees of
The Clare Mann Bursary Fund
Materialmisstatementsthatariseduetofraudcanbehardertodetectthanthosethatarisefromerrorasthey may
involve deliberate concealment or collusion.
Afurtherdescriptionofourresponsibilitiesfortheauditofthefinancialstatementsislocatedonthe Financial
ReportingCouncil'swebsiteatwww.frc.org.uk/auditorsresponsibilities.ThisdescriptionformspartofourReport of
the Independent Auditors.
Use of our report
This reportis made solely to the charity'strustees,as a body,in accordancewith Part 4 of the Charities(Accounts and
Reports)Regulations2008. Our auditwork has been undertakenso that we might state to the charity'strustees those
matterswearerequiredtostatetotheminanauditors'reportandfornootherpurpose.Tothefullest extent
permittedbylaw,wedonotacceptorassumeresponsibilitytoanyoneotherthanthecharityandthe charity's
trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Knights Lowe Limited
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR
Date: .............................................
Page 7
The Clare Mann Bursary Fund Clare Mann Bursary Fund
Statement of Financial Activities for the Year Ended 31 December 2022
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
49,740
Investment income
4
1,914
Total
51,654
EXPENDITURE ON
Raising funds
Investment management costs
5
724
724
Charitable activities
6
Providing financial assistance to eligible nurses
8,094
Total
8,818
Net gains/(losses) on investments
(17,129)
NET INCOME
25,707
RECONCILIATION OF FUNDS
Total funds brought forward
137,812
TOTAL FUNDS CARRIED FORWARD
163,519 |
Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
- |
2022
Total
funds
£
49,740
1,914
51,654
724
724
8,094
8,818
(17,129)
25,707
137,812
163,519 |
2021
Total
funds
£
20,870
1,928 |
|
|
|
22,798 |
|
|
|
747 |
|
|
|
747
5,999 |
|
|
|
6,746 |
|
|
|
8,225 |
|
|
|
24,277
113,535 |
|
|
|
137,812 |
The notes form part of these financial statements
Page 8
The Clare Mann Bursary Fund Clare Mann Bursary Fund
Balance Sheet 31 December 2022
Unrestricted
fund
Notes
£
FIXED ASSETS
Investments
12
117,676
CURRENT ASSETS
Cash at bank
45,843
CREDITORS
Amounts falling due within one year
13
-
NET CURRENT ASSETS
45,843
TOTAL ASSETS LESS CURRENT LIABILITIES
163,519
NET ASSETS
163,519
FUNDS
14
Unrestricted funds
TOTAL FUNDS |
Restricted
funds
£
-
-
-
-
-
- |
2022
Total
funds
£
117,676
45,843
-
45,843
163,519
163,519
163,519
163,519 |
2021
Total
funds
£
138,041
3,336
(3,565)
(229)
137,812
137,812
137,812
137,812 |
|
|
|
|
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon9 June2023and were
signed on its behalf by:
Trustee
The notes form part of these financial statements
Page 9
The Clare Mann Bursary Fund
Clare Mann Bursary Fund
Notes to the Financial Statements for the Year Ended 31 December 2022
1. GENERAL INFORMATION
These financial statements cover the individual charity; The Clare Mann Bursary Fund only.
All transactions are reported in £ Sterling, rounded to whole pounds only.
The financial statements comply with the provisions of SORP 2019.
The charity constitutes a public benefit entity as defined by FRS 102.
Thefinancialstatementshavebeenpreparedtogivea'trueandfair'viewandhavedepartedfrom the
Charities(Accountsand Reports)Regulations2008 only to the extent requiredto providea 'true and fair view'.
This departurehas involvedfollowingthe AccountingandReportingby Charities:Statementof Recommended
PracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting Standard
applicablein the UK andRepublicof Irelandissuedin October2019ratherthanthe Accountingand Reporting
by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsof thecharity,whichis a publicbenefitentityunderFRS 102,havebeenprepared in
accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial
ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the
CharitiesAct 2011. The financialstatementshave been preparedunder the historicalcost convention,with the
exception of investments which are included at market value, as modified by the revaluation of certain assets.
Financial reporting standard 102 - reduced disclosure exemptions
Thecharityhastakenadvantageofthefollowingdisclosureexemptionsinpreparingthese financial
statements,aspermittedbyFRS102'TheFinancialReportingStandardapplicableintheUKandRepublic of
Ireland':
-
the requirements of Section 7 Statement of Cash Flows;
-
the requirement of paragraph 3.17(d);
-
the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
-
the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;
-
the requirement of paragraph 33.7;
-
• the requirement of paragraph 24(b) of IFRS 6.
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesonceallofthefollowingcriteriahave been
met:
-
The charity has entitlement to the funds
-
Any performance conditions attached to the items of income have been met or are fully within the
-
control of the charity
-
There is sufficient certainty that receipt of the income is considered probable
-
The amount can be measured reliably
continued...
Page 10
The Clare Mann Bursary Fund
Clare Mann Bursary Fund
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
2. ACCOUNTING POLICIES - continued
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement
andtheamountof theobligationcanbe measuredreliably.Expenditureis accountedforonanaccruals basis
andhas been classifiedunderheadingsthataggregateall costrelatedto the category.Wherecostscannot be
directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the
use of resources.
Grants offered subject to conditionswhich have not been met at the year end date are noted as a commitment
but not accrued as expenditure.
Cash at bank and in hand
Cashatbankandinhandincludescashandshorttermhighlyliquidinvestmentswithashortmaturity from
the date of acquisition or opening of the deposit or similar account.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Investment assets
Investmentsareinitiallyrecognisedattheirtransactionvalueandsubsequentlymeasuredattheir market
valueattheBalanceSheetdateusingtheclosingquotedmarketprice.TheStatementofFinancial Activities
includes net gains or losses on revaluations and disposals throughout the year.
3. DONATIONS AND LEGACIES
Donations
Grants
Grants received, included in the above, are as follows:
Royal London League of Nurses General Fund
Royal London League of Nurses Benevolent Fund |
2022
£
42,725
7,015
49,740
2022
£
3,565
3,450
7,015 |
2021
£
19
20,851 |
|
|
20,870 |
|
|
2021
£
-
20,851 |
|
|
20,851 |
continued...
Page 11
The Clare Mann Bursary Fund Clare Mann Bursary Fund
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
4. INVESTMENT INCOME
4. |
INVESTMENT INCOME |
|
|
|
|
|
|
2022 |
2021 |
|
|
|
£ |
£ |
|
Income from fixed asset investments |
|
1,893 |
1,928 |
|
Deposit account interest |
|
21 |
- |
|
|
|
1,914 |
1,928 |
5. |
INVESTMENT MANAGEMENT COSTS |
|
|
|
|
|
|
2022 |
2021 |
|
|
|
£ |
£ |
|
Portfolio management |
|
724 |
747 |
6. |
CHARITABLE ACTIVITIES COSTS |
|
|
|
|
|
Grant |
|
|
|
|
funding of |
|
|
|
|
activities |
|
|
|
|
(see note |
Support |
|
|
|
7) |
costs |
Totals |
|
|
£ |
£ |
£ |
|
Providing financial assistance to eligible |
|
|
|
|
nurses |
7,729 |
365 |
8,094 |
7. |
GRANTS PAYABLE |
|
|
|
|
|
|
2022 |
2021 |
|
|
|
£ |
£ |
|
Providing financial assistance to eligible nurses |
|
7,729 |
5,134 |
8. |
AUDITORS' REMUNERATION |
|
|
|
|
|
|
2022 |
2021 |
|
|
|
£ |
£ |
|
Fees payable to the charity's auditors for the audit of the charity's financial |
|
|
|
|
statements |
|
- |
500 |
9. |
TRUSTEES' REMUNERATION AND BENEFITS |
|
|
|
There were no trustees'remunerationor other benefitsfor the year ended 31 December 2022 nor for the year
ended 31 December 2021.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended31December2022norfortheyear ended
31 December 2021.
Executive committee transactions
Nomembersoftheexecutivecommitteewerereimbursedanycoststhisyear.2021:Nomembersof the
executive committee were reimbursed any costs
continued...
Page 12
The Clare Mann Bursary Fund
Clare Mann Bursary Fund
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
9. TRUSTEES' REMUNERATION AND BENEFITS - continued
Executive committee transactions - continued
No members of the executive committee were providedwith grant fundingthis year. 2021: No members of the
executive committee were provided with grant funding.
10. STAFF COSTS
The charity employed no staff in this or the prior year.
11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
20,870
Investment income
1,928
Total
22,798
EXPENDITURE ON
Raising funds
Investment management costs
747
747
Charitable activities
Providing financial assistance to eligible
nurses
5,999
Total
6,746
Net gains on investments
8,225
NET INCOME
24,277
Transfers between funds
32,166
Net movement in funds
56,443
RECONCILIATION OF FUNDS
Total funds brought forward
81,369
TOTAL FUNDS CARRIED FORWARD
137,812 |
Restricted
funds
£
-
-
-
-
-
-
-
-
-
(32,166)
(32,166)
32,166
- |
Total
funds
£
20,870
1,928 |
|
|
22,798 |
|
|
747 |
|
|
747
5,999 |
|
|
6,746 |
|
|
8,225 |
|
|
24,277
- |
|
|
24,277
113,535 |
|
|
137,812 |
continued...
Page 13
The Clare Mann Bursary Fund
Clare Mann Bursary Fund
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
12. FIXED ASSET INVESTMENTS
Shares
Other
Additional information as follows:
MARKET VALUE
At 1 January 2022
Additions
Disposals
Revaluations
At 31 December 2022
NET BOOK VALUE
At 31 December 2022
At 31 December 2021
There were no investment assets outside the UK. |
2022
2021
£
£
114,272
134,229
3,404
3,812
117,676
138,041
Listed
investments
£
134,229
89,268
(92,096)
(17,129)
114,272
114,272
134,229 |
|
|
Fixed asset investments are valued on an open market basis by Coutts & Co. at the year end.
Investments (neither listed nor unlisted) were as follows:
|
2022 |
2021 |
|
£ |
£ |
Cash held for reinvestment |
3,404 |
3,812 |
continued...
Page 14
The Clare Mann Bursary Fund
Clare Mann Bursary Fund
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are a
Unrestricted funds
General fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Restricted funds
The Chris Moran Scholarship Fund
The Jill Garrard Memorial Fund
The Ida Latham Fund
TOTAL FUNDS |
s follows:
Incoming
resources
£
51,654
51,654
At 1.1.21
£
81,369
25,903
3,900
2,363
32,166
113,535 |
At 1.1.22
£
137,812
137,812
Resources
expended
£
(8,818)
(8,818)
Net
movement
in funds
£
24,277
-
-
-
-
24,277 |
2022
2021
£
£
-
3,565
Net
movement
At
in funds
31.12.22
£
£
25,707
163,519
25,707
163,519
Gains and
Movement
losses
in funds
£
£
(17,129)
25,707
(17,129)
25,707
Transfers
between
At
funds
31.12.21
£
£
32,166
137,812
(25,903)
-
(3,900)
-
(2,363)
-
(32,166)
-
-
137,812 |
|
|
|
|
14. MOVEMENT IN FUNDS
continued...
Page 15
The Clare Mann Bursary Fund
Clare Mann Bursary Fund
Notes to the Financial Statements - continued for the Year Ended 31 December 2022
14. MOVEMENT IN FUNDS - continued
Comparative 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 |
22,798 |
(6,746) |
8,225 |
24,277 |
TOTAL FUNDS |
22,798 |
(6,746) |
8,225 |
24,277 |
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
Restricted funds
The Chris Moran Scholarship Fund
The Jill Garrard Memorial Fund
The Ida Latham Fund
TOTAL FUNDS |
At 1.1.21
£
81,369
25,903
3,900
2,363
32,166
113,535 |
Net
movement
in funds
£
49,984
-
-
-
-
49,984 |
Transfers
between
funds
£
32,166
(25,903)
(3,900)
(2,363)
(32,166)
- |
At
31.12.22
£
163,519
-
-
- |
|
|
|
|
- |
|
|
|
|
163,519 |
A currentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above
are as follows:
|
Incoming |
Resources |
Gains and |
Movement |
|
resources |
expended |
losses |
in funds |
|
£ |
£ |
£ |
£ |
Unrestricted funds |
|
|
|
|
General fund |
74,452 |
(15,564) |
(8,904) |
49,984 |
TOTAL FUNDS |
74,452 |
(15,564) |
(8,904) |
49,984 |
In a meetingon8 May2021theTrusteesvotedto move allrestrictedfundsintotheunrestrictedfund.This is
becausetherestrictedfundsaresmallinsizeandineffecthavebeenusedupforthepurposesthey were
restrictedfor. This will aid the operationof the charitymoving forwardand the charitywill still support funding
for the training which these restricted funds were dedicated for.
continued...
Page 16
The Clare Mann Bursary Fund
Clare Mann Bursary Fund
Notes to the Financial Statements - continued for the Year Ended 31 December 2022
15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2022.
Page 17
The Clare Mann Bursary Fund Clare Mann Bursary Fund
Detailed Statement of Financial Activities for the Year Ended 31 December 2022
|
|
|
2022 |
2021 |
|
Unrestricted |
Restricted |
Total |
Total |
|
funds |
funds |
funds |
funds |
|
£ |
£ |
£ |
£ |
INCOME AND ENDOWMENTS |
|
|
|
|
Donations and legacies |
|
|
|
|
Donations |
42,725 |
- |
42,725 |
19 |
Grants |
7,015 |
- |
7,015 |
20,851 |
|
49,740 |
- |
49,740 |
20,870 |
Investment income |
|
|
|
|
Income from fixed asset investments |
1,893 |
- |
1,893 |
1,928 |
Deposit account interest |
21 |
- |
21 |
- |
|
1,914 |
- |
1,914 |
1,928 |
Total incoming resources |
51,654 |
- |
51,654 |
22,798 |
EXPENDITURE |
|
|
|
|
Investment management costs |
|
|
|
|
Portfolio management |
724 |
- |
724 |
747 |
Charitable activities |
|
|
|
|
Grants to individuals |
7,729 |
- |
7,729 |
5,134 |
Support costs |
|
|
|
|
Finance |
|
|
|
|
Bank charges |
365 |
- |
365 |
365 |
Governance costs |
|
|
|
|
Auditors' remuneration |
- |
- |
- |
500 |
Total resources expended |
8,818 |
- |
8,818 |
6,746 |
Net income before gains and losses |
42,836 |
- |
42,836 |
16,052 |
Realised recognised gains and losses |
|
|
|
|
Realised gains/(losses) on fixed asset |
|
|
|
|
investments |
(17,129) |
- |
(17,129) |
8,225 |
Net income |
25,707 |
- |
25,707 |
24,277 |
This page does not form part of the statutory financial statements
Page 18
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