The Charlty Registration Number is :_ 1010559 The Robert Clutterbuck Charitable Trust Report and Accounts 5 April 2024
The Robert Clutterbuck Charitable Trust Report and accounts for the year ended 5 April 2024 Contents Page Charity infomiation Trustees. Annual Report Statement of directors. responsibilitie8 Indopgndent Accountanf8 Report Funds Statements... ststement of Financial Acttvilies ststement of total recognised gains and losses Fixed Asset funds Movements in funds Income and Expenditure account 14 15 16 16 17 Balancg 8heet 18 Notes to the accounts 19
The Robert Clutterbuck Charitable Trust Trustees. Annual Report for the year ended 5 April 2024 The Trustees present their Report and Accounts for the year ended 5 April 2024. Reference and administrative details rhe charity name. The legal name of the charity is:_ The Robert Clutterbuck Charitable Trust The charfty's areas of operation and UK charltable reglstratlon. The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1010559 Legal structure of the charfty The charity is constituted as an unincorporated charity. established by Trust Deed. The governing document of the charity is the Trust Deed establishing the charity. There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law. The trustees are all individuals. The prfnclpal operatlng addre8S, telephone number, emall and addresses of the charlty are:. 28 Brookfields Calver, Hope Valley Derbyshire, S32 3XB Telephone 01433 631308 Email Address secretary@clutterbucktrust.org.uk Web address w.GIutterbuCktrUst.Org.uk The Trustees In office on the date the report was approved were:. Mr l A Pearson Mrs L F Pitman Mrs T Lydekker The trustees who served as a trustee in the reporting period were as shown above, and there were no changes during the year, or in the period between the year end and the approval of the accounts.
The Robert Clutterbuck Charitable Trust Trustees. Annual Report for the year ended 5 April 2024 Objects and activities of the charty The puryjoses of the charity as set out in its governing document. The Trust was established by a Deed dated 2 April 1992 on the basis that the income shall be applied for the benefit of such charitable purposes, charitable institutions, charitable foundations or charitable trusts as shall be determined by the trustees. The trustees may at their discretion also apply any capital similarly. The main activities undertaken in relation to those purposes during the year. The trustees meet lce a year to review grant applications in light of funds available and grant criteria. Grants may be made immediately or further conditions may be requested before grants will be made. In addition there are annual bursary payments made to the Worshipful Company of Founders and the Worshipful Company of Barbers further particulars of which appear on page 4. HISTORY OF THE CHARITY Major R G Clutterbuck founded the charity in 1992 and funded it with £1 million from his own resources. For nearly twenty years he was chairman and took a keen interest in the Trust's activities. Until ill-health affected him in his last few years, he spent a great deal of time considering the various appeals and expressing views upon them. On his death on 17 April 2012 Major Clutterbuck left a legacy of £500,000 to be added to the Trust's resources. The trustees are atways mindful of what his views would have been when considering applications. The trustees do not expect that there will be any new resources in the form of legacies or gifts from other outside sources in the future.
The Robert Clutterbuck Charitable Trust Trustees. Annual Report for the year ended 5 April 2024 The main activities undertaken during the year to further the charity s purpose for the public benefit. The trustees achieve the Charity Commission requirements to provide public benefit by providing funding to a wide range of other well established organisations and ford looking new small charities within their stated priorities. During the year the trustees were able to help a wide variety of good causes. Amongst the grants given, they are pleased to be able to help charities that supported-. current and past seNice personnel and their families. several village activities and other projects within Cheshire and Hertfordshire. wildlife and conservation projects throughout the United Kingdom. domestic and other animal charities. recreation facilities for the young and disabled. A full list of the grants paid over the last two years is shown in note 19 on pages 25 to 27 of the accounts. The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity. Grant maklng policies and how these contributed to the achievement of the charity s aims and objectives during the year. Grants will not be made to charities with an annual turnover exceeding £500,000 unless they are primarily concerned with the welfare of ex-service personnel or have pvIOuslY received a grant from the Trust. The trustees do not consider applications for payments to individuals and prefer not to pay grants below £1,000. They prefer that grants be applied for the purchase of specific items. The trustees wll not nonnally consider appeals from charities within two years of a previous grant being approved. Grants are awarded to charities:_ al in support of personnel within the Armed Forces and Ex-seniice men and women., b) in support of sport and recreational facilities for young people giving priority to Cheshire and HertFordshire', c) dealing with the welfare, protection and presetvation of domestic animal life giving priority to Cheshire and Hertfordshire., d) dealing with natural history and wildlrfe in the British Isles, giving priority to Cheshire and Hertfordshire., e) that are particularly associated with the founder, Major Robert Clutterbuck (deceased).
The Robert Clutterbuck Charitable Trust Trustees. Annual Report for the year ended 5 April 2024 The main achievements and performance of the charity during the year. Bursaries Despite the current uncertain economic climate, the trustees have sufficient ongoing funds to continue supporting Iwo annual awards. The Worshipful Company of Founders has requested an annual bursary to support students in the fields of materials engineering and technology. The trustees have agreed to fund two bursaries of £1,500 each for students finishing at John Warner School and going on to university. The Worshipful Company of Founders will contribute £500 and the trust £2,500. The selection process has commenced and the trustees will be providing information on the selected students. A bursary of £2,500 has been established, named after Major Robert Clutterbuck who was a liveryman of the Worshipful Company of Barbers. It assists the medical training of a student through the Worshipful Company of Barbers charities. The trustees were pleased to see the details of the successful candidate for this year, whose application was particularly impressive and whose need for financial support very obvious, and agreed that the grant should be rolled forward for a further year. The difference the charity s perfom?ance during the year has made to the beneficiaries of the charity and have benefited wider society. The trustees are satisfied with the performance of the charity during the year and the position at 5 April 2024 and consider that the charity is in a strong position to continue its activities during the coming year despite the uncertainty in the UK and worldwide economies, and that the charity's assets are adequate to fulfil its obligations. The grants made by the charity have enabled the recipients to move forward with their current and future activities and hence benefit the wider society. Investment performance against the Investment objectives. The trustees, aim is to maintain the capitsl value of the Trust investments at not less than £2 million to achieve an adequate income flow to use together with contributions from capital to make grants for charitable purposes. The trustees and appointed stockbrokers are satisfied that the portFolio performance matches expectations. As at 14 September 2024 the total portFolio value is £2,335,009.
The Robert Clutterbuck Charitable Trust Trustees, Annual Report for the year ended 5 April 2024 The methods used to recruit and appoint new charity trustees. In the event of a vacancy for a trustee. the trustees would endeavour to find a replacement with knowledge of the aims of the Trust and of the late Major Clutterbuck's wishes. They would then make an appointment at the next trustees, meeting. No other person or external body is allowed to appoint a trustee. The trustees, bankers and advisors Bankers CAF Bank Ltd, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ J M Finn & Co Ltd, 25 Copthall Avenue, London EC2R 7AH Hamilton Burt, 47 Holly Hill, Bassett, Southampton S016 7ES Investment advisors Accountants Financial review The charity s financial position at the end of the year ended 5 April 2024 The financial position of the charity at 5 April 2024 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:. 2024 2023 Net incomel(expenditure) 132,951 {297,324) Unrestricted Revenue Funds available for the general purposes of the charity 2,297.843 2,164,892 Total Funds 2,297,843 2,164,892
The Robert Clutterbuck Charitable Trust Trustees. Annual Report for the year ended 5 April 2024 Financial review of the position at the reporbng date, 5 Apnl 2024 . The trustees consider the financial performance by the charity during the year to have been satisfactory. The financial statements are set out in pages 14 to 28. The financial statements have been prepared implementing the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard 102 (effective 1 January 2016). The Stalement of Financial Activities show revenue income less all costs for the year resulting in net outgoing resources (loss) of £31,119 {prior year net outgoing resources Ilossl of £20.987) as shown on page 17 and an increase in capital resources of £164,070 (prior year decrease in capital resources of £276,337). making a net overall increase (profit) in resources of £132,951 (prior year net overall decrease {loss) of £297,324) as shown on page 15. The total reserves at the year end after accounting for unrealised gains stand at £2,297,843 (prior year £2.164.892) as shown on page 16. The trustees noted that the huge change in income for the year resulted from the increase in the value of the trust's investments in the year rather than investment income which had in fact increased modestly in the current year. The prior year decrease would only have been realised on immediate sale of the investments at 5 April 2023. Policies on reseNes. The Trust holds reserves in order to maintain the level of benefits for charitable purposes, charitable institutions. charitable foundations or charitable trusts as shall be determined by the trustees. All funds are received as unrestricted as they come from the founder, who made no specific stipulations, or from subsequent investment. The trustees from time to time designate funds for future grants. Unrestricted funds are needed..- al to provide funds which can be designated to specific projects to enable these to be undertaken at short notice., b) to cover administration support costs without which the charity could not function. The Trust has unrestricted reseNes of £2,297,843 as at 5 April 2024. This is a increase on the previous year of £132,951.
The Robert Clutterbuck Charitsble Trust Trustees. Annual Report for the year ended 5 April 2024 Going Concem The uncertainty in the global economy have affected the Trust's underlying value of its assets but not the income generated therefrom. There is no threat to the Trust's continued existence. Availability and adequacy of assets of each of the funds The board of trustees is satisfied that the charity's assets are available and adequate to fulfil its obligations. Significant events which have affected the financial perfonnance and the Inancial position. The global uncertainty has caused the Trust's capitsl value to fluctuate over the last few years. However as at a certain point in time i.e. 5 April in the year, the capital value of the Trust's investments has remained above the target figure of £2 million. The trustees considered that they should do what they could to help other charities that were generally in difficult financial positions due to the effect the high cost of living and inflation has had on fundraising activities. Investment policy and investment objectives. The trustees intend that the real value of the Trust's assets be maintained and enhanced over the long term by investment in a portfolio comprised of equities, fixed income stocks and cash. In addition, the trustees wish to withdraw a sum each year to meet the Trust's expenditure. In order to meet these objectives the trustees have appointed J M Finn & Co Ltd. as the Trust's agent to manage a diversified portfolio of suitsble investments on a discretionary basis. In the context of the J M Finn & Co Ltd Client Understanding Note the truslees have selected e balance investment objective with medium risk. No iestriGtions were put on the investment portfolio diversity with regard to social, environmental or ethical considerations. The trustees wish to thank Mrs Kim Woolmer and her team at J M Finn & Co Ltd. for their hard work on behalf of the trust.
The Robert Clutterbuck Charitable Trust Trustees. Annual Report for the year ended S April 2024 The major risks to which the Charity is exposed and reviews and systems to mitigate them. The future perf0mlan of investments is hard to predict in an unusually volatile global market. The asset base of the Trust does depend on the perfomiance of the stock market and the Trust minimises the risks by placing the management of investments in the hands of J M Finn & Co who have an excellent record. The Trust will continue to take the advice of J M Finn & Co who are familiar with the needs and aims of the charity in respect to income from and value of their portfolio. Plans For the Future Summary of plans for the future and the trustees. perspective of the future direction of the charity. The trustees have not considered lowering the minimum grant level of £1,000 as this is considered to be a reasonable level to ensure that the grant will have a significant impact. However many of the charities the Trust wishes to help are suffering financial difficulties. During the current crisis with a lower income, in order to maintain the level of grant making. the Trustees will authorise transfers from capital to be made. The Trustees do not believe that the amounts of capital which will be transferred will have any material effect on the overall value of the Trust's investments. Detsils of The Independent Examiner WAHBurt Member of Association of Taxation Technicians 47 Holly Hill Bassett Southampton Hampshire S016 7ES
The Robert Clutterbuck Charitable Trust Trustees. Annual Report for the year ended 5 April 2024 Statement of Trustees. Responsibilities The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant ststutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP {Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP), In particular, charity law requires the Trustees, if they prepare accounts on an accruals basis, to prepare financial ststements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Trustees are required lo :_ prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). select suitable accounting policies and apply them consistently., make judgements and estimates that are reasonable and prudent" prepare the financial statements on the going concern basis unless it is inappropriat, to presume that the charity will continue in business- state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements., The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year. The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made under the Charities Act 2011. 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.
The Robert Clutterbuck Charitable Trust Trustees. Annual Report for the year ended 5 April 2024 The Trustees are also responsible for the contents of the Trustees. report, and the statutory responsibility of the Independent Examiner in relation to the Trustees, report is limited to examining the report and ensuring that , on the face of the report. there are no material inconsistencies with the figures disclosed in the financial statements. This report was approved by the board of trustees on 1 October 2024. I A PEARSON Trustee 10
The Robert Clutterbuck Charitable Trust Report of the Independent Examiner to the Trustees of the charity on the accounts for the year ended 5 April 2024 I report to the Trustees on my examination of the financial statements of the charity on pages 14 to 28 for the year ended 5 April 2024 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102, (effective 1 st January 2016) adapted to meet the needs of unincorporated organisations, as modified by FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016). (The SORP), published by the Charity Commission in England & Wales (CCEW) , and under the historical cost convention and the accounting policies set out on page 19. Respective responsibilities of the Trustees and the Independent Examiner and the basis As described on page 9. you, the charity's Trustees, are responsible for the preparation of the financial statements in accordance with the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practice, applicable to smaller entities, and for being satisfied that the financial statements give a true and fair view. The Trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the Governing Document for the conducting of an audit. As a consequence, the Trustees have elected that the financial statements be subject to independent examination. Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination. it is my responsibility to:_ a) examine the financial statements of the charity under Section 145 of the Act; b) follow the applicable procedures in the Directions given by the Charity Commission under section 145{5)(b) of the Act. 11
The Robert Clutterbuck Charitable Trust Basis of Independent ExaMineS Statement and scope of work undertaken I report in respect of my examination of the charity's financial statements carried out under s145 of the Act. 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 setting out the duties of an independent examiner in relation to the conducting of an independent examination. An independent examination includes a review of the accounting records kept by the charity and of the accounting systems employed by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you, as Trustees, concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of charity legislation and that, on a test basis of evidence relevant to the amounts and disclosures made, the financial statements comply with the SORP. The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the Trustees in the course of the examination is not subjected to audit tests or enquiries and does not cover all the matters that an auditor would consider in arriving at an opinion. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide Consequently, I do not express an audit opinion on the view given by the financial statements, and in particular, l express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below. I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report l obtained written assurances from the Trustees of all material matters. 12
The Robert Clutterbuck Charitable Trust Independent Examinerfs Ststement, Report and Opinion Subject to the limitations upon the scope of my work as detailed above, I have completed my examination.. and can confirm that: This is a report in respect of an examination carried out under 145 of the Act and in accordance with Directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable; and 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 charity as required by with Section 130 of The Charities Act 2011" the financial statements do not accord with those records., or the financial statements 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. have not been prepared in accordance with the methods and principles set out in the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP). 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 financial statements to be reached. Slgned:. W A H Burt - Independent Examiner Association of Taxation Technicians 47 Holly Hill Bassett Southampton Hampshire S016 7ES This report was signed on 4 October 2024 13
The Robert Clutterbuck Charitable Trust - Statement of Financial Activities for the year ended 5 April 2024 Statement of Financial Activities for the year ended 5 April 2024 SORP Ref Current year UnStricted Funds Current year Restricted Funds Current year Total Funds Prior Year Totsl Funds 2024 2024 2024 2023 Incom8 & Endowments from: Investments A4 51,217 51,217 51,959 Expendlturo on: Raising funds Charitable activities Other B1 B2 83 19,823 56,803 5,710 19,823 56,803 5.710 20,209 46,643 6,094 Total expenditure 82,336 82,336 Net gains on investments B4 164,070 164.070 (276,337> Nat incomel(exp8nditure) for the yèar 132.951 132,961 (297,324) Net income after transfers A-B-C 132,951 132,951 (297,324) Net movament In funds 132,951 132,951 {297,324) Reconciliation of funds:. Total funds brought forward 2,164,892 2,164,892 2,462,216 Total funds carried forward 2,297,843 2,297,843 2,164,892 The 'SORP Ref indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet. A Statement of Total Recognised Gains and Losses is included as a primary statement in these accounts. All the prior year transactions were unrestricted items, and no further analysis is required All activities derive from continuing operations The notes attached on pages 19 to 28 form an integral part of these accounts. 14
The Robert Clutterbuck Charitable Trust - ststement of Financial Activities for the year ended 5 April 2024 ststement of Total Recognised Gains and Losses for the year ended 5 April 2024 2024 2023 Deficlt for the year :_ Net excess of income over expenditure from operations before tax {31,119) (20,987) Income from operations before tax In the Statement of Financlal Activitles (31,119) (20,987) Add/(deduct) non income and expenditure items... Unrealised gainsl(losses) on investments 164,070 {276,337) Net Movement in funds before taxatlon 132,951 {297,324) Funds generatsd In the year as shown on Statement of Flnanclal Activities 132,951 297,324 The notes attached on pages 19 to 28 form an integral part of these accounts. 15
The Robert Clutterbuck Charitsble Trust - statement of Financial Activities for the year ended 5 April 2024 The Robert Clutterbuck Charitable Trust - Resources applied in the year ended 5 April 2024 towards fixed assets for Charity use:. 2024 2023 Funds generated in the year as detailed in the SOFA Net resources available to fund charitable activities 132,951 132,951 297,324 297,324 The notes attached on pages 19 to 28 form an integral part of these accounts. Movements in revenue and capital funds for the year ended 5 April 2024 Revenue accumulated funds Unrestricted Rastrfcted Funds Funds 2024 2024 Total Funds 2024 Last year Total Funds 2023 Accumulated funds brought fOard 2,164,892 2,164,892 2,462,216 Recognised gains and losses before transfers 132,951 132,951 (297,324) 2,164,892 2,297,843 2,297.843 Closlng revenue funds 2,297,843 2,297,843 2,164,892 Summary of funds Unrestricted Restricted and Funds Designated funds 2024 Total Funds Last Year Total Funds 2024 2024 2023 Revenue accumulated funds 2,297,843 2.297,843 2.164.892 The notes attached on pages 19 to 28 form an integral part of these accounts. 16
The Robert Clutterbuck Charitable Trust - ststement of Financial Activities for the year ended 5 April 2024 The Robert Clutterbuck Charitsble Trust Income and Expenditure Account for the year ended 5 April 2024 as required by the Companies Act 2006 2024 2023 Income Investment income Income from investments. other than interest receivable Interest receivable 37,775 13,442 42,761 9,198 Gross Income In the year before exceptional items 51,217 51,959 Gross in¢ome in tho year Sncluding exceptional items 51,217 51,959 Expenditure Charitable expenditure, excluding depreciation and amortisation Fundraising costs Governance costs Other expenditure Realised losses on disposals of social investments which are programme related 55,308 19,823 1,495 5,710 45,073 20,209 1,570 6,094 Total expenditure in the year 82.336 72,946 Net income before tax in the financial year (31,119) {20,987) Tax on surplus on ordinary activities Net income after tax in the financial year (31,119) (20,987) Retained surplus for the financial year 31,119 20,987 All activities derive from continuing operations The notes attached on pages 19 to 28 form an integral part of these accounts. 17
The Robert Clutterbuck Charitsble Trust - Balance Sheet as at 5 April 2024 SORP Note Rgf 2024 2023 Flxed assets Investments held as fixed assets 2,292,615 2,108,434 Current assets Investments hehy as current assets Cash al bank and in hand 10 B3 5,576 5,847 56,211 25,442 Totsl culnt assets 11,423 Creditors: amounts falllng due within one year 11 C1 6.195 25.195 Net current assets 5,228 56.458 The totsl net assots of the charfty 2,297,843 2.164,892 Tha total net assets of the charfty am funded by the funds of the chartty, as follows:. Restri¢tod funds Unrestrlcted Funds Unrestr¢cted Revenue Funds 14 D3 2,297.843 2,164,892 Deslgnat•d Funds Totsl ¢harlty fund8 2,297,843 2,164,892 The 'SORP Ref indicated above is the classification of Balance Sheet items as set oul in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried foNard funds above have been agreed to the SOFA.. The Trustees acknowledge their responsibilities for complying with the requirements of charity legislation with respect to accounting records and the preparation of accounts. The charity is subject to Independent Examination under charity legislation, and thè report of the Independent Examiner is on page 13. The Truslees are satisfied that. although the charity is not registered under the Companies Acts, if it were so registered, it would be eligible lo prepare accounts in accordance Wbth the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime. I A PEARSON Trustees Approved by the board of trustees on 1 October 2024 MRS L F PIThIAN MRS T LYDEKKER The notes attached on pages 19 to 28 fonn an integral part of these accounts.
The Robert Clutterbuck Charitable Trust Notss to the AcGounts for the year ended 5 April 2024 1 Accounting policies PoliciTes relating to the production of the accounts. Basls of preparation and ac¢ountlng eonventlon The accounts have b8en prepared on the accruals basis, under the historical c05t convention. and in accordance with the Financial Reporting Standard 102, {effect¢ve 1st January 2016) and'FRS 102 SORP Iststement of Recommended Practs. for Accounting and Reporting by Charities} 2015, {as amended by the Bulletin issued in February 20161. (The SORPI, published by the Charity Commission in England & Wale5 (CCEWI , effective January 2016, , and in attOrdan with all applicable law in the charitys jurisdiction of registration, eXpt that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practi for Aecounling and Reporting by Charities) 2015, las amended by the Bulletin issugd in February 2016). (The SORP), in preferen to the previous SORP, the SORP 2005. which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities IAccounls and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done lo accord with current best practice. Rlsks and future assumption8 The ¢harity is a public benefrt entity. The trLtstees have reviewed the governance, operats'onal, financial, extemal and legal and regulatory compliance risks which may affect the Trust within the next 12 months. In the view of the trustees the largest risk to the Continued operabon of the Trust is the fluctuation in investments. To mitigate the risk. the Trust has instructed in writing J M Finn & Co Ltd lo manage the portfolio on their behalf in line with their investment policy. The investment advisers attend the trustees, meetings, which OCCLsr twice year, to review the investment portfolio and make any future investments as agreed and approved by the trustees. Policles rnlatlng to categorles of Income and inconw ro¢ognltlon. Naturè ol In¢om• Gross income represents the value of divid8nds and intsr¢$t from investments held. Catogorlos ot In¢omo Income 1$ ¢ategorised as income from investsnent income 8nd other income. Incom• r•¢ognition Income is recognised in thè statemènt of financial activities ISOFAI on a receivable basis, when a transaction or olher event results in an increa)¢ in th¢ Gharity's aosetJ or a redL+Gtion in its liabilitiea and only when the charity has legal entitlement. the income is probable and can be measured reliably. Income subject to tenns and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have boen mel_ All income is accountod for gross, before deducting any related fees or costs. 19
The Robert Clutterbuck Charitable Trust Notes to the Accounts for the year ended 5 April 2024 Policies relating to expenditure on goods and seThices pmvided to the charity. Re¢ognltJon of Ilabllltles and ¢xpendlture A liability. and the related expenditure, is cOgnised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated. Liabilities arising from future funding commitments and constructive obligations, indudifig performan related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The Pfovision is increased to reflect any increases in liabilities, and is decreased by the ulilisation of any provision within the period. and reversed if any provision is no longer required. These movemen1$ are charged or credited to the respeth.ve funds and activities to which the provision relaleg. Pollcles relatlng to assets, liabilities andpmvisions and othermatters. Flxéd Ass•t Inv•$tm•nt8 Fixed asset investments in quoted shares. traded bonds. investment properties and similar investments ore Shown initially at ¢osl upon acquisition and at their malkel value al the balan sheet date at the end of the financial period. Investment properties are not depreciated. Fixed asset investments in unlisted fquiti85 are shown al the balance sheet da18 al the best estimate of their market value, where pra¢ti¢able. Where valuation techniques are considered unreliable or where. in the opinion of the trustees, the ¢o$ts outsveigh the benefits to the users of the accounts, tho investment 15 included al cost, and a review is undertaken at each year end as to whether the asset should be written down. All gains on fixed asset investments. whether realised or unrealised, a induded in r¢JW B4 of the Statement of Financial Activrties. Debtons Debtors are measured at thèir recoverable amounts at the balance sheet date. Curront as8gt Inv•gtmonts Current asset investments are shown at the amounts propedy COnled to the stockbrokerfs Statements. Creditors and provlslon$ In accordance with the SORP, a contingent liability for those grants, which do not represent liabilities, where the possible obligation, which arises from past events will only be confirmed by the occurren of one or more nrtain fLrture events not wholly within the trustees, control. Provisions are racognised for those grants where there is nrtaInty as to the liming and amount. and any uncertainty regarding the amount is more than one of detemiining a basis for reasonable estimation of the liability arising from that conslrucb've obligation. 20
The Robert Clutterbuck Charitable Trust Notes to the Accounts for the year ended 5 April 2024 Cash and bank balances No Cash is or was held by the charity. The bank balance, whether in crlIt or overdrawn, is shown at the amoun1$ properly reconciled to the bank statements. Fund Accounting Unrestricted funds are available for use at the discretion of the trustee5 in furtherance of the general objectives of the charity. There are no designated funds. There are no restricted funds. 2 Liability to taxation The Trustees consider that Ihe charity sa115fi8s the lesls set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly. the Charity is potentially exempt from 18xalion in respect of income or capital gains feceived within ¢ategories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are applied exclusively on the specific charitsble objects of the charity and for no other purpose. Value Added Tax is not recoverable by the charity. and is therefore included in the relevant costs in the Statement of Financial Activrties. 3 Wlndlng up or dl$8olution of the charity If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities. the assets represented by the accumulated fund shall be transferred lo some other charitable body or bodies having Similar objects to the charrty. 4 Slgnifi¢ance of financial In8trumonts to th¢ charity's position The are no significant implications of finanoal instruments lo the charitys financial F)osibon or perfomiance. 6 Investmgnt gains Current yoar Curront year Current year PrSor Y•ar Unr•strlct•d RtrIct•d Total Funds Totsl Funds Funds Funds 2024 2024 2023 2024 Unrealised InS /(lossu) and writing down of canylng valu•s Llsted Inveslmonts - Unalised 164.070 184.070 1276,3371 Total unreallsed galnsl{108$0$1 otc 164 070 276.337 Total roall$od and unl11$ed galns 164.070 276,337 21
The Robert Clutterbuck Charitsble Trust Notes to the Accounts for the year ended 5 April 2024 6 Remuneration and payments to Trustees and persons connected with them No trustees or persons eonnected with them received any remuneration from the charty. or any related entity. 7 Trnstees. expgn398 The expenses reimbursed to trustees. or paid directly to third parties, in the ujrrent or prior year. was as shown below. 2024 2023 The 8mounl relmbyrsed to Irusloes 570 322 The nature of the trustees, expenses was travel. The number of truslees, lo whom expenses were reimbursed was 2. 8 Investments hèld a8 fix&d a880ts Inve$lm•nts in 8ub8ldlarfe8 Llstad Investm•nts Other Class8$ of Total Inv•8tm•nt Carrylng valum of inv•Jtments At 6 April 2023 Additions Revalu8lion al 5 April 2024 DIsk)osals 2.108,434 330,337 164,070 1310,2261 2,108,434 330,337 164,070 1310,2281 At 5 Aprll 2024 2 292615 2 29261J Analy•l• b•twn falr valu• and hl•torlcal cost Investments as 8bove held al fair value 2292615 2 292,615 9 Debtor8 2024 2023 Prepayments and accrued income 10 Inveslments hgld as current assets at market value at 5 April 2024 2024 2023 Other inveslmerits S.676 66,211 11 Groditors: amounts falling due within one year 2024 2023 Aeeruals 22
The Robert Clutterbuck Charitable Trust Notes to the Accounts for the year ended 5 April 2024 12 Incomè and Expenditure a¢¢ount summary 2024 2023 At 6 Apfll 2023 Loss after tsx for the year 2,441,229 2,462,216 {31,1191 {20.9871 At S April 2024 2,410.110 2.441.229 13 Particulars of how partlcular funds are representsd by assets and Ilabilitie8 At 6 April 2024 Unrestrictsd DeslgThatgd R•8trl¢ted funds fund8 furtds Total FundB Investments al valualion: Fixed asset investments Current Assets Current Liabilities 2.292.615 11.423 16.1951 2.292.615 11.423 {6,195) 2 297 843 2 297 843 At e Aprll 2023 UnroStrfct8d D•slgnatsd Restrictsd funds funds lund• Total Fund Inve51menls al valuation.' Fixed assel inv8slmenls Current Assets Current Llablllties 2.108,434 81,653 125,195 2,108,434 81,663 126,1961 2 164 892 2.164,892 14 Change In totsl funds over the year as shown ID Note 13 . analy8ad by Individual funds Funds brought forward from 2023 Mov8ment In funds Sn 2024 Translor• b•twg0 fund8 Sn 2024 So• Not• 15 $* Nots O Fund8 carri•d forward to 2026 Unr•8tricted and deslgn•t¢d fvnds... Unrestricted Rèvenue Funds 2 164892 132,951 Total unrèstrletad and d•¥ignatsd funds 2.164.892 132 961 2 297 843 Total charlty fund$ 2.164.892 132 951 16 Analysis of mov8ments In funds ovgr the year as shown in Nots 14 Otr Galns & L055es 2024 Income Expgndlturo Mov•ment in fund$ 2024 2024 2024 Unrestrlcted and dosignotedfunds... Unrestrictèd Revenue Funds 51,217 82,336 132951 Gains and losses are detailed in note 5. 23
The Robert Clutterbuck Charitable Trust Note5 to the Accounts for the year ended 5 April 2024 16 The purposes for which the funds as dgtailgd in notè 14 are held by the charity are:. Unrestrictedand designated funds.". These funds are held for the meeting the objectives of the charity, and to provide reserves for future activities, and , subject to charity legislation, a free from all $tellOnS on their use. Unrestricted Revenue Funds 17 Uttimate controlling party The charity is under the ¢ontrol of its Trustees. Every Trustee of the charity has unlimited joint and several liability for the debts of the charity. 24
The Robert Clutterbuck Charitable Trust Detailed analysis of income and expenditure for the year ended 5 April 2024 as required by the SORP 2015 This analysis is classified by conventional nominal descriptions and not by actlvity. 18 Investment income Current year Unrestrlcted Funds 2024 Current year Restrfcted Funds 2024 Current year Total Funds Prioryear Total Fund3 2024 2023 Dividend Income Bank Inlerest Receivable Non Bank interest receivable 37,775 27 13,415 37.775 27 13,415 42,761 74 9,124 Total Inveslment Income 51.217 51.959 19 Expendituro on charitabla activities- Grant funding of actSvitio8 Current yoar Unrestrtcted Funds 2024 Current year Restrlctod Funds 2024 Current year Total Funds Prior Year Total Funds 2024 2023 Grants made to organisations 55,263 55,263 45,400 Total grant maklng costs B2c 55,263 55,263 45,400 Breakdown of Grants made to organlsations Current year Unrestrlcted Funds 2024 Current year Restrlcted Funds 2024 Current year Totsl Funds Prlor Year Total Funds 2024 2023 Barber Company Founders Company 1st Croft Guloes Vvamnglon 1st Stretford Scout Group cetaan Research and Rescue Chester Scouts Jamboree Fund CPRE Cheshire Crewe Rotary Club Demantia Together Wirrel Emmaus St Albans East Cheshire Hospice Friends for Leisure Greyhound Rescue Henshaws Hinxworth ParTrsh Council Home Start Hertfordshire Horse Sense Wirral 2,500 2,500 2,000 1,000 1,000 1.500 1.000 1.000 2.000 1,000 2,880 1,700 1,000 1,303 1,000 1,000 1,000 2,500 2,500 2,000 1,000 1,000 1,500 1,000 1,000 1.000 2,880 1.700 1,000 1,303 1,000 1,000 1,000 25
The Robert Clutterbuck Charitable Trust Detailed analysis of income and expenditure for the year ended 5 April 2024 as required by the SORP 2015 Hospice of St Francis Joss Searchlight Jubilee Sailing Trust Lake District Foundation Leicester Sea Cadels Live! Lytham St Anne's Sea Cadets MedEquip4KIDS Molhenuell Cheshire Neuro Therapy Centre North West Pre-Hospital Critical care Charity Pegusas Riding for the Disabled Plafform for Life Southem Thailand Elephant Foundation st Benedict's Catholic Primary School Handford Stokenthurth Dog Rescue suso Toft Crickel Club Transition Wilmslow 1,500 1,000 1,500 1,000 1,500 1.000 1.500 1,500 1,000 1,500 1.500 1,000 1.500 1,000 1,500 1,000 1,500 1,500 1.000 1.500 1.500 1,500 2,880 1,000 1,000 2,880 1,000 1,000 1,000 1,000 2,000 1.000 1,000 1,000 2,000 1,000 1,000 1,000 Wheathampstead Chapel Community Hub Wingatre Special Children's Centre Woodwork lo Wellness Barn Owl Trust Bren Project Bristol Avon River Trust British Forces Foundation Brogdale Collections Burma Star Memorial Fund Carer Support Wiltshire Chapter West Cheshire CHIPS Crackerjacks Children's Trust Culchelh Methodist Church Disabled Sailors Association Dyspraxia Foundation Easi & North Hertfordshlre Hosplla15 Charity Felix Fund Go Kids Go Isabel Hospice Idlewild Animal Sanctuary Little Ouse Headwaters Project Marine Conservation Society Moorland Mousie Trust Mounl Pleasant Village Hall Muscle Help Foundation Prevent 2 Prolect Rainforest Concern Space4autism stick n Step 1,000 1,500 2,000 1,000 1,500 2,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1.000 1.500 2,000 1,000 2,500 1,000 1,000 2,700 1.000 2,000 1.000 1,000 1,500 1,000 1,000 1,000 1,500 1.200 26
The Robert Clutterbuck Charitsble Trust Detailed analysis of income and expenditure for the year ended 5 April 2024 as required by the SORP 2015 streefvet Time Out Group Veterans Outdoors Welcome to Our Future Wewn Haffield Women's Refuge Whizz-Kidz Wirral Bam Owl Trust 2,000 1,000 1,000 1,500 1.000 1,000 1,500 55.263 45,400 As set out in the grant making policies section of the Trustees Annual Report, grants have all been made to Institutions not individuals. Each grant related to a specific project or item of equipment and were to charities that'.- a) in support of personnel within the Armed Forces and Ex-service men and women; b) in support of sport and recreational facilities for young people giving priority to Cheshire and Hertfordshire., c) dealing with the welfare. protection and preservation of domestic animal life giving priority to Cheshire and Hertfordshire., d} dealing with natural history and wildlife in the British Isles giving priority to Cheshire and Hertfordshire., e) that are particularly associated with the founder, Major Robert Clutterbuck (deceased) 20 Support costs for charitable activities Current year Unrestricted Fund8 2024 Current year Restricted Funds 2024 Current year Total Funds prtor Year Totsl Funds 2024 2023 Administrative overheads Administrative fees 4.000 4,000 4,C0 Professional fees paid to advisors other than the auditor or examiner Accountancy fees other than examination or audit fees 1.695 1,695 1,695 Financial costs Bank charges 60 72 Support costs before reallocatlon 5.755 5.755 5.767 Less support costs reallocated to specific activities To non-charitable costs (5,710) (5,710 (6,0941 Total support costs 45 327 The basis of allocation of costs between activities is described under accounting policies 27
The Robert Clutterbuck Charitable Trust Detailed analysis of income and expenditure for tho yoar ended 5 April 2024 as required by the SORP 2015 21 Other Expenditur• - Governance costs Current year Unrestricted Funds 2024 CuThent year Restricted Funds 2024 Current year Total Funds Prior Year Total Funds 2024 2023 Independent Examiners fees Trustees, expenses 1.000 495 1.000 495 1,000 570 Total Governance costs 1,495 1.495 1,570 22 Total Charitable expenditure Current year Unrestricted Funds 2024 Current yèar Restricted Funds 2024 Current year Total Funds Prfor Year Total Funds 2024 2023 Total grant making costs Total support costs Total Govemance costs B2c B2d B2e 55,263 45 1,495 55,263 45 1,495 45,400 (3271 1,570 Total charftsble expenditurn B2 56,803 56,803 46,643 23 Expenditure on ralslng funds and costs of investment management Current year Unrestrlcted Funds 2024 Current year Restrlcted Funds 2024 Curront year Total Funds Prlor Year Totsl Funds 2024 2023 Investment managemenl costs 19,823 19.823 20,209 Totsl fundralslng costs B1 19,823 19,823 24 Other trading expenditure unrelatod to fundraising or charitable activities Current year Unrestricted Funds 2024 Current year Restricted Funds 2024 Current year Prior Year Totsl Fund8 Total Funds 2024 2023 Reallocated from support costs 5,710 5,710 6,094 Non charity expenditure B3 5.710 5,710 6,094 28