2022-04-05-accounts - The Gretna Charitable Trust

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THE GRETNA CHARITABLE TRUST

I N D E P E N D E N T E X A M I N E R ’ S R E P O R T

Year ended 5 April 2022

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GRETNA CHARITABLE TRUST

I report to the trustees on my examination of the accounts of the Trust for the year ended 5 April 2022.

Respective responsibilities of trustees and examiner

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). You are satisfied that an audit is not required for this year under charity law and that an independent examination is needed.

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters than an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the accounts present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.

Independent examiner’s statement

I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the Trust as required by section 130 of the Act;

the accounts do not accord with those records.

I have no concerns and have come across no matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

G P SMYE-RUMSBY ACA Dixon Wilson 22 Chancery Lane London WC2A 1LS 2022 26 October

R E P O R T O F T H E T R U S T E E S

THE GRETNA CHARITABLE TRUST

Year ended 5 April 2022

The trustees submit their report and accounts for the year ended 5 April 2022.

The accounts have been produced in accordance with the receipts and payments basis.

Administrative information

The trust was established by a deed dated 15 March 1993 and is a registered charity (No. 1020533).

The trust’s registered office is:

c/o The Directors Office Imperial London Hotels td 66 Russell Square London WC1B 5BB

Settlor

The Gretna Charitable Trust was created by the generosity of H R Walduck, who tragically passed away on 6 January 2021.

Trustees

Mrs S M C Walduck A H E P Walduck Mrs A M Duncan

The number of trustees shall not be less than three. Where there is a requirement for new trustees, these may be appointed by the current trustees and the personal representatives of the late H R Walduck. The trustees receive no reimbursement for their expenses.

Object

The trust's objects are such charitable purposes as the trustees from time to time in their absolute power determine. The trustees meet from time to time to approve distributions made from the income of the settlement. Under the terms of the trust the endowment fund is expendable on such charitable purposes as the trustees determine.

Under the Trust Deed the trustees have the power to accumulate the income of the trust fund as an accretion to the capital of the trust fund as in their absolute discretion they think fit.

Public benefit

The trustees, having regard to the Public benefit guidance published by the Charity Commission in accordance with section 17 of the Charities Act 2011, consider that that purpose and activities of the charity satisfy the requirements of the public benefit test set out in section 4 of the same act.

Organisation

The charity is governed by its trustees who may exercise all the powers contained within the Trust Deed. The trustees confirm that the major risks to which the charity is exposed have been reviewed and systems have been established to mitigate those risks.

THE GRETNA CHARITABLE TRusr Year ended 5 APAI 2022 ReW of the year Incoming and outgoing re50urce5 for the year are sec our in the &twd sd*dule on a recepts and payments basis. The market vue of the veStrent ptsrtfoli) has Creased to a831.316 12021.. £Z613,179). Thb 1$ due to an kn¢rease in the market rdlue of the hol¢Jlng5 and further Purc1 in the year. Donatlom have been rnade by the trustXS to * variety of charitable ac¢ivltit%. Investmènt pow Under the trust deed. the tru5te¢5 may irtvest any monies in the wrthase of any investments or properw clwhitever nature and wherever situated as the tnLs¢¢es in their ab501utr dwetion thlnk fit Investment policy The trustees invest in mediumllow risk ul[leS and bon a view to d¥rvlng a reasonable yield ¢0 generate income for tharitabk contributions. REser¥es The of the trustees is to fulty expend the Inegme for the year and not accumulate intcme re5erve5. Although the endoyrnieni fund is expend2bl4 and is regularly %there donations in the year exG¢¢d income, it15 rnthtainÈd at level where the trustees feel confident it will provth i healthy income strearn tg fund the expeeTrrJ ann1 expeThditure. A H E P WALDUCK MRSA M DUNCAN ro 6£L 2022

Charity Name		No (if any)
The Gretna Charitable Trust		1020533
Receipts andpayments accounts			CC16a
06/04/2021 For the period from Period start date	To	Period end date 05/04/2022

Section A Receipts and payments

A1 Receipts	Unrestricted funds to the nearest £ 5,328 55,349 21,505 - - - - 82,182 1,252,108 - 1,252,108 1,334,290 - 77,500 8,500 - - 115 - - - 86,115 1,270,626 - 1,270,626 1,356,741 - 22,451 22,451 - -	Restricted funds to the nearest £ - - - - - - - - - - - -	Endowment funds to the nearest £	Total funds to the nearest £ 5,328 55,349 21,505 - - - - 82,182 1,252,108 - 1,252,108 1,334,290	Last year to the nearest £
			- - - - - - - -
Interest	5,328			5,328	33
Dividends	55,349			55,349	61,545
Other investment income	21,505			21,505	10,358
Voluntarydonations	-			-	-
	-			-	-
	-			-	-
	-			-	-
*Sub total*(Gross income for AR)	82,182			82,182	71,936
			- - -
A2 Asset and investment sales, (see table).
Investment sales	1,252,108			1,252,108	1,085,971
	-			-	-
*Sub total*	1,252,108			1,252,108	1,085,971
*Total receipts* A3 Payments
			-	1,334,290	1,157,908

	-	-	- - - - - - - - -	-	-
Donationspaid	77,500	-		77,500	81,680
Investment management costs	8,500	-		8,500	7,479
Accountancyfees	-	-		-	-
Legal fees	-	-		-	-
Sundry	115	-		115	60
	-	-		-	-
	-	-		-	-
	-	-		-	-
**Sub total **	86,115	-	-	86,115	89,219
			- - -
A4 Asset and investment purchases, (see table)
Investmentpurchases	1,270,626			1,270,626	1,338,619
	-			-	-
**Sub total **	1,270,626			1,270,626	1,338,619
*Total payments* *Net of receipts/(payments)* A5 Transfers between funds A6 Cash funds last year end *Cash funds this year end*
			-	1,356,741	1,427,838

	- 22,451	-	-	- 22,451	- 269,930
	22,451	-	- 22,451 81,358	-	-
	-	-		81,358	351,288
	-	-	58,907	58,907	81,358

Section B Statement of assets and liabilities at the end of the period

Unrestricted funds to nearest £	Restricted funds to nearest £ - - - - OK	Endowment funds to nearest £
- - -	-	28,569
	-	30,338
	-	-
-	-	58,907
OK		OK

UnTeStri¢ted fund5 Restrfctsd fund5 tonevrnt£ Endowrnent fund5 to nwr•st£ Dètsils Fund Iofthh aSSOtbBI Curr¢nlv•l Dètslls c0rytltypuonj B3 Invostmént assots 2,6M321 1831J16 Fwd ¢Dwlh Detalls cLilopUonj ional B4 Assets relalnèd for the ch8rlty's oMI use WhBndu onal 85 Lsabllftle SIw8d by onE or 1*0 trustee5 an behElf ol all Ihé trusts8S T)ate of oval S¢nabJe Prlnl Name ALEXANOER WALDUCK 2L lio Itoll 161101 ALISON DUNCAN