A.G. MANLY CHARITABLE TRUST (Charity Number . 1007307) FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
A.G. MANLY CHARITABLE TRUST INDEX Page Index Annual report Report of the independent examiner Statement of financial activities Balance sheet Notes to the flnancial statements Notes not forming part of the financial statements Income and expenditure a¢wunt 10 List of beneficiaries
A.G. MANLY CHARITABLE TRUST ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2024 The Iruslees presenl their annual report anu the financl81 staternenls of the charily lor Ihe year ended 5 April 2024. The trustees have adopted the provision5 of the Slalemenl of Recommendod Practlce applicable lo chacilies prèparing their fin6nclal slalemenls in accordance wbiih the Flnan¢ial Reporting SlaTrYard applicable In UK and Rèpubllc ol Ireland Is$ugd in July 2014. L•g•l 8tatU8 The A.G. Monly Charitable Trust registed 4th the Charmy Commissioners Invmbor 10073071. and con3th'1uled by deed of trust. Ils prlncSpal 8ddr8ss Is clo Mooro Kingston Smilh LLP, Belchwth House, 57-85 Stallon Road. Redhill, Surrey. RH1 10L. The charity'5 b8nk8rs are Nal Vvosl Bank Plc, 93 Cenlrgl Road, Worcesler Park, Surrey. KT4 8DZ. Its Investment aavisors are CCLA Fund Manager5, Senalor House, 85 au8èn Victori8 Slrgat, EC4V 4ET. Trust•e$ The trustees ol tho ehar6ty vtho serv8(J durlng the year and lo tha dale of thi8 report re.. OJ Montgomery EPG Rosg DM Manty TC Dwr Tru8100 appolnlments are made by the Board ol Twslees and do not requlre ts approval of any 9xlernal aulhorily. The Irusl¢•• meat quartgdy ObJoCtlv•6 ol th• ¢hrlty The obpclive ol the charily is lo piovlde financlal a8sistar¢co lo ch8fll8bl8 Inslllullons or for charitable purpose8, in porllcular, but not exduslvely. thè pronN)Ilon or dev91opmenl lor the benofit ol the public of Ihe sryancé of englngerfjng 8nd tho advancement of edueallon in engineertng. Flnan¢l#l and bu•ln••¥ r•¥l•w Tho charlly's slalement ol financlzl ac¢lvllies lor the year, 8nd115 financial po$ltlon al the balance 8hg6t dale, 3r6 show) on pages 4 and 5 During the yeai, thé char41y rnadé grants lo charl1¥ Oun16n9 lo £121,500. The Irusiees seek lo spend al least1tr8 whale ol the ¢haillls In¢onw from InvtMentS aftar deducllng support costs, sthlch In the yèar 2023124 was £119,897. Tho Iruslees cOn"nUe lo seek Orgas0t1onSlo 8UPPOrt that fll th the charlly'8 principal oble¢llv8$. Durlng Ir* y&ar covèrèd by these accoltS, tho value of tha ¢h8rlly's Inveslrntrnl In the COIF ChatIeS Inve$tmenl Fund ros• by t377.214 thlle Income g•ngrat•d remolned 8lfong. Rl•k Man•gem•nt The trustges have examSn8(I Ihe major 8lralegic, buslness and operallonol flsk8 vthlch Ihs charfty laces and connrm that $y31effl¥ hov9 been eslabllshed 101g$sen Ihg5• rlsks. R•r¥9$ polley The Iruslees seek lo dlslrfbute all ol the income of each year aB lar as they are able. 8vbJecl to proservlng Ihp capllal base of Ihe charily. Publ1¢ 8•Trgflt The trustées confirm th81 trey compty wlh Ihelr duty lo h8ve regard lo tho guhdance on public benefrt publlshed by tho Charlly Commls$fjon In exer¢i$lng their pothers and dutia3.
A.G. MANLY CHARITABLE TRUST ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2024 Trustees. responsibllitlo9 The (rusl8e8 are respon5ib18 for preparing the Trust8es' Report and the Ilnan¢ial gt8tem•rtts in accordanc• WR applicabl• law and Unit8d Kingdorn Ac¢ounting Standards (uni Kingdom Generally Acceplad Accounting Practi) Induding FRS102'The Financial Rgporting Standard appli¢abie in the UK and Republi¢ ol Ireland.. The law appli¢ablo lo chariti85 in England & Wales requir0$ tha trusleo$ to pPare fInacIal slal&menls for e8¢h linan¢ial year which give a true and fair view ol the slate of thè 8ffair3 01 tho ¢haTity and ol the incoming reBourc8s and application of resource¥, including the Income and exp9ndilure, ollho charily for that period In prèparing the fin4ncial slalement3, the Irusleo$ ara requlred lo.. lal select suitabl8 accounting policiès and Ih•n appty Ihoffl con81sl&ntty', Ibl observe the methods and prlncipl¢s In the Charitias SORP., 1¢) make judg&mènts and 8$limalo$ that arè reasonable and prudent.. Idl Slate whether appli¢8ble UK accounting $1gndards have been f¢ll¢Md, 8ubject lo ony malerigl departure$ di8cloJed And 8xplained in Ihe lin¥nclal slgl•menl3', (•) pr8pare tha finAn¢ial 818ltmtnts on the going ¢onurn ba818 unl•8811 Is In8ppropriate lo pr•¥ume IhJl th• charrty bwll conlinue in busin¢ss. The Iruslees arè r&sponJiblg lor keeping proper accounllng rec¢fd3 that di$dos• with rèasonable 8c¢uraGy al any lime the lin&n¢ial posllion ol the charity enable Ihern lo ensure thal thg financi81 slalomen18 ¢omply with Ihe Ch8rili9s A¢1 2011, th? Charily (Accounts and Report$l Regulallon8 2008 and tha provisions of the Tru31 08ed. They •r¢ 8180 r8spon$ible lor sal89uar¢Jlng th& aoge18 of Ihe charily 8nd hencts lof laklng ro#8onable stops for the provenlion 4rKI dateclion ol fraud and other irr¢gularilie8. Approved by Ihè Tru81ges on 3 Sgplornber 2024 Mr D J Monlgom•ry Trustee
A.G. MANLY CHARITABLE TRUST REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES I rep(t on the financi8151alements of the A G Manly Charitable Trust foT the year ended S Aplll 2024. which compri$e th Stalement ol Fin8n¢ial A¢livilw. the Baknce Sheet and the related notes Your 8llenlion is drawn to the fècl Ihal Ihe charity has prepafod the finanu81 $tatgment5 in 8ccord8ncè with Accounting and Reporting by Charilifj$,' Slatern•nt of Recomm8nd8d Pr8Ctie• appiICab lo charitlos prepafng their financig181alem8nt5 in accordanco with the Financial Report9 siandard ap1¢¥b lo the UK and Republic of Ireland IFRS 1021 in preleroncg to Attounlin9 gThY Reporting by Charfl$.. statement of Recomrnonded Praclir Issued on 1 April 2005 which Is referrèd lo In the extant regulallon8 bul has been withdrawn l undgrNt4nd Ihal this Mag been done in ord•r frtr the finarKI818tatements to wovkye 8 tnJe and f8ir vlew in accordance wilh the Generally Attept8d Aeeounling Pr8ctte eft8Ctiv8 for r8POrting per$ beoinnlng on or after 1 January 2015 Regpecb"va R&8ponsibilitiè$ of Tw$t888 8nd Examin6r The charity'8 Iru$teaS 8re Msponslblg lor the prepar81Jon of Ihe fin8nGI81 ¥lalem•nls The charit18 tfUStè95 eonsidèr that 8n audll Is not required for Ihis ye8r undèr 56clion 144121 of tho Choriti8s Ael 2011 Ilhè 2011 Acll and Ih8t dn Indepandenl éxammalion Is needed 1118 my re)onsYollity io.. exAmin8 Ihe 8ccounl8 undfjr 8aclion 145 of the 2011 Acl. lolknv Ihe procedurns18ld down in tho Gtrnaral Dii¢th'on8 glv•n by tho Charity Commisiion und¢r 66clion 145lSllblol Ihe 2011 kl., and 8llt• whether p8rtityJlaf maiiar8 hav• ¢om to my alièn0 8a$i$ of Ind8p•ndgnl Exarninb¢s Repo My examlnallon was carrd out in accoffjonc• wllh tha General Dire¢lbn$ given by th8 Chartty Comml$lon An gX8mln¥lion hcludg5 a revi8w ol the 8cntIng recwd$ kept by lh• chorily and a compaf150n of the financial slalefflgnls pre88nl•d with Iho8e r0cord8 It a189 in¢lude$ conderaiion ol ony unusual Items or di$ck)$urg3 In the finanu81 slalemonts. and kn9 oxpl8natKJn from you OB truste ¢on¢8rnlng ony Jueh m81tèr8. The procedur08 undertaken do nol prgvid• 011 the evidence that woukl è réquired in oudil and consoquenlly no cpinion is givtyn 88 to whether the rM•ncK41 •l¥im•nts pr98enl a and falr and the r¢port 18 limited lo thoBe matter$ ¥61 oul In tha slatemèni below Independenl Examinerfs Slaiement In eonneciion with my 8xamirk9tion, nD mall8r hai como to my altenlion.. 111 whlch Fiv•8 m• roa80ngble cau88 lo bel¥0 Ih81 In any mal•rtal M8pecl requrem•nls lo keep 0ceountr.ng r¢cord8 In accordance wilh 8etlion 13D ol the 2011 Act., lo ppa fn8ncial ¥toltsmenl8 wnich acord wrth Ihg 8e¢ounling r•cords, eompty wrfh tho aoxunting requilern•ni$ of Ihe 2011 Act and wllh Ihe m?Ihed8 and pfineipl6$ of th• Sl•lemenl of Recomrn•ndèd Pr8di have not beln mél., or 121 io whith, In my opinKin, 8llentK+n 8hould be dr8wn lo •nb a proper und¢rnt8nding ol the tlnancial 61algm8nt$ lo be r¢8ch8d St8phgn Ffanklin ACCA Galloways Accounting Ridge18nd Hou88 15 Carf4K Hoisham West Sussex. RH12 1 DY
A.G. MANLY CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024 Unrestrlcled Fund5 Year endod Year ended S April 2024 S Aprll 2023 Income Inveslment income Dividends receivable 121,171 119.896 Total operating income 121.171 119,896 Expendlturn Charitable activlties 122,774 119,546 Total opèroling expenditur8 122.774 119,546 Nel operatin9 IdeficilKincome 11,6031 3SO Nel gainslllo$$e$l on investment a88els 377.214 1162,1021 Net incomelldeficill and net movement in lund8 375.611 1161,7521 Fund balances brought fo0[d 4,212,720 4,374.472 Fund balances C8Tfi8d lorward 4,588.331 4,212,720 All gains and losses arising in Ihe year have been included in the Statement ol Financial Activities and ari88 from continuing aclivilie$ In both year8, all in¢ome and expenditure related lo unreslricled funds.
A.G.MANLY CHARITABLE TRUST BALANCE SHEET 5 APRIL 2024 2024 2023 Flxod A880ts Investrnenls 4.544,497 4.167,283 Current A$•ets Cash at bank 44,590 46,079 Current Ll•bllltl•J Credilof8 '. Amounts falling due within one year 756 642 Net Current A800ts 43,834 45.437 Net A•$¢ts 4,588,331 4,212.720 R•pr•8ented by Funds Unreslricled income funds 4.588,33t 4,212,720 Totsl Funds 4,588,331 4,212,720 In both years all balances relate lo unrestricted funds. The Financial S181emenls were approved by the Trust688 on 3 Seplgmber 2024 and signed on thair behalf by.. Mr D J Montgomery Twstee
A.G.MANLY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 5 APRIL 2024 Accountlng policlos la) Accounting bas1$ and standards The financial 51alernenls h8v@ pPared In awoidance with the Financial Reporting Standard applicab in the UK and Republic ol Irgl¥nd IFRS 1021. Th¥ Charity is 8 public benefit enlrty for tho purpose¥ of FRS 102 ¢J a ro9lStered charity and thefelore has also prepared ils financial slalemenls in aecordance th Ihe Statement ol Recommènded Practice applicable to charitiès preparing Ihgir acc¢Junts in accofdanc• with th• Financial Roporting Standards applicable In the UK and Ropubli¢ ol Irelond (The FRS 102 Charbties SORPI, and the Charities Acl 2011. Ibl Golng Concern The Irus18?s hav assessed whelh•r the use ol going concern is appropriale ar hav? considered pos$lblg eveTh13 or condilions that might ca¥1 significant doubl on tha ability ol Ih? charily lo continua as & going con¢ern. Thè Iru$l•es hav• mad& this 8ssessmenl lor a Pèfiod of at1oa$t one year from th• dalo ol approval of Ih•$e lirt8nci81 slatem8nls. As the th8ty has no long-leim granl commilmonls, Ihè Iw$lee$ have concludod Ihal Ihore is a r8a3on8ble ¥xpeclalion that ehailty has ad8quale resources lo continue in op•r8tion81 existen¢ for thè lorè88e¥ble fubjre The charity Ihèrelorè continLs to adopt the going concern b8$i8 In preparing its rinaneial sl818monls. 1¢) Incom• All In¢om• is recogni$ed when there is 8n enlilhmenl tts th¢ fund$, tha r•¢•ipl Is probabl& and th• amount Can be m6asured rollably. Idl ExndItUre Expgndllura 1$ included In the Stal4m•nl ol Flnoncial A¢livilis on an aceruals basis, inclusive ol any VAT which cannot be recovef•d. ExpendrtUTe Is recogni¥8d once there is a legal or ¢onstructlve obllg811on lo transler fj¢onornic b8nolil to o third party. it18 probable that 8 Irangler of econi¥nic benefit wlll be rgquired in stslllemenl 8nd the amount of ihe obligation ¢on be measuiqd reliably, Governanc8 CO818 comprise th8 cost ol running the charity, including indepgndent examination cosls. The8e hAve been includ8d in Support costs, l•> Fund Accountlng Unreslricl8d FundT compri$9 those funds whith the Iruslae$ or• free lo use In accordance th tho charitable objects. lfj Crltlcbl A¢eountlng E8timat•# Ind Ar•as of Judg•m•nt In th• view ol Ihg trusle•$ in applying the a¢untIng policies adoplod, no judgernenls were requlred Ihal hay¢ a Slgnilicanl effect on th¥ amounts t09n•d in the linancial slatemanls nor do any è8tim81&s or Assvmption8 made carry any $ignificanl ri¥k of malarial adlu8kn8nt in th• ne linancial slal•ments, Ig} C#h Fl¢>w Sts1•t The charity ha$ IBk9n the exwnplion available in paragraph 7.1 B of FRS 102 and h88 nol preparod a c95h flow 8181grnent. Ihl Flnanclal Instrum•nts Cash and cash equlvalonts Cash and c8sh equivalents includ& cash ol baThk and in hand and short term dep03its with a malurily dato ol three months or less.
A.G.MANLY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 5 APRIL 2024 DebtorJ and credltorx D¢blors and crèditois receivabl• or payabb within one year ol the reportin9 dote are cairied at their transaclion pric•. Flxod a88Ot In¥tments Invfj$lmenls are 8 Iofm ol basi¢ financial In51rum8nt and are initially recogni$ed al their Iransaction valu8 8nd subsequently m&asured al Iheir fair value 98 al the b818nce $heel dale u3ing the closin9 quoted m8fkel pricè. The Slotgmanl of Firtoncial Aclivili8$ in¢lud•s the ntrl 9ain8 and108ses arising on rovalualion and disp413 throughout the year. R•allBod 9alns and 10$#•8 All yalns and losse3 are taken lo Ihg income and oxpgndilufe 8•Glion of the Slalamenl of Flrtancial A¢livilies as they arl8e. Realised galns and10889s on invèstm•nls am calculated as the dffference beknn sale proc¢8ds and orlglnal cos1. Unrealised gains and 1033e8 are calculaled as the diffeTtnc6 bètween Ihe mart&l vglue 81 th& end of the y•ar and op•ning market value, or puTcha8& date if later. R*ali88d and unrealised gains are not 8eparalgd in the Slaloment of Fin•ncial Aclwilié8. Expendltur• on ¢h4rltabl• a¢t1vI•1 Yaar •nd•d 6 Aprll 2024 Yeèr •nd•d S Aprll 2023 DIM¢t CO8t8 Donallofis m8do Inel ol can¢elled donations) 121,500 118,862 Support costs IndendnI oxarninallon Honororium 774 500 1,274 684 Tot•l Chorltablfr Exp8ndltur• 122,774 119,546 All expendllurè on chafitable aclivilles wa8 unrestricted Inv••tm•nl• 2024 2023 Listed in¥e8lm•nt It mid market valu• COIF Ch8rlties Inve8lm•nl Fund 4.544.497 4,187,283 Market V81u8 816 April 2023 Addition$ Increp3elldecre8$è1 in valuè ol investments held 4,167,283 4.239.385 90,000 162.1021 377,214 M81k81 Value al 5 April 2024 4.544,497 4.167,283 Hislori¢al cost of inve8lmen13 hekl 815 April 2024 2.799,786 2,799.786
A.G. MANLY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Cr•dltors .' amount3 fglling dug withln ong year 2024 2023 Indépondent gxaminat6on 756 756 642 Rol8t•d Party Trnnsacilon Th• Board olTrusta•s controls Ine ch8rrfy.