**H E & E L BOTTELEY CHARITY SETTLEMENT**
**Accounts – 5[th] April 2024**
## **H E & E L BOTTELEY CHARITY SETTLEMENT**
Charity number: 1036927
Accounts – 5[th] April 2024
## **INDEX**
|1-3.|Report of the Trustees and General Information|
|---|---|
|4.|Independent Examiner’s Report to the Trustees|
|5.|Statement of Financial Activities|
|6.|Balance Sheet|
|7-14.|Notes to the Accounts|
1.
**H E & E L BOTTELEY CHARITY SETTLEMENT**
## **REPORT OF THE TRUSTEES for the year ended 5[th] April 2024**
The Trustees are pleased to present their annual report and financial statements of the charity for the year ended 5[th] April 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity’s trust deed, the Charities Act 2011 and Accounting and the Charities Statement of Recommended Practice (second edition) and Financial Reporting Standard FRS 102.
## **Reference and Administration Details**
The charity’s name is H E & E L Botteley Charity Settlement.
Charity Registration Number: 1036927 Registered Address: c/o 10 Oaklands Road Sutton Coldfield West Midlands B74 2TB
## **Trustees**
The Trustees and officers who served during the year and since the year end were as follows:
S L Botteley R Barney D Pelekani
## **Objects and Activities**
The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Charity’s aims and objectives and in planning future activities and setting the grant making policy for the year.
The aims of the Charity are to render assistance to charitable institutions or the charitable purposes thereof or any other charitable purposes.
Under the Terms of the Settlement the Trustees have wide powers of investment. Whilst the Trustees generally make payment for charitable donations out of accumulated income, they may, at their discretion make payments out of capital. There is therefore no permanent endowment and all the funds of the Charity are unrestricted.
## **Procedures and Policies for Grant Making**
The Trustees normally meet biannually to consider applications for funding and to decide upon which grants they will make and to review any feedback they have received.
## **Achievements and Performance**
During the year the Charity made 17 (2023: 20) donations to charitable organisations amounting to £27,000 (2023: £30,500), these are listed in note 4.
## **Financial Review**
The Charity received investment income of £29,792 (2023: £28,388), £130 (2023: £44) of bank interest and £nil (2023: £90,001) of donations, details of which are given in note 3. The Trustees made donations of £27,000 (2023: £30,500) to a wide range of charities (as shown in note 4) and governance costs amounted to £960 (2023: £930).
**H E & E L BOTTELEY CHARITY SETTLEMENT**
2.
## **REPORT OF THE TRUSTEES for the year ended 5[th] April 2024 (** Continued)
## **Investment Policy**
1. The generation of sufficient income to enable the charity to carry out its grant making purposes effectively, and without interruption.
2. The maintenance and enhancement of the capital at least in line with inflation over the long term.
3. To obtain a reasonable balance between capital growth and income so that the charity can meet future as well as current needs.
4. To avoid any investment that is unduly risky.
Under the terms of the settlement the Trustees have wide powers of investment. The Trustees’ policy is to invest in an appropriate mix of assets i.e. equities, fixed interest securities, alternative assets and monetary assets. The Trustees recognise that the return on equities, while expected to be greater over the longer term than those of other asset classes, are likely to be more volatile. Investment in a range of asset types should nevertheless provide the levels of return required, and mitigate volatility to achieve the Charity’s objectives.
The portfolio is to be managed on a balanced investment objective.
The Charity’s assets should be invested in line with its aims and objectives as set out in the Trust Deed. Individual investments may be excluded if perceived to conflict with Charity’s purpose. Currently this includes the following: No direct investment in companies involving tobacco production or with more than 10% turnover derived from gambling or armaments.
The Trustees have the responsibility of agreeing with investment strategy and monitoring the investment assets. The Trustees have currently appointed Evelyn Partners (formerly Smith and Williamson) to manage the portfolio on a discretionary basis. The investment manager is required to exercise the power to give effect to the principles as contained in this statement and, must have regard to the need for diversification, concentration and suitability of investments selected.
Evelyn Partners provide custody of assets via its nominee arrangements as authorised and monitored by the Financial Conduct Authority. Meetings take place with Trustees periodically to review the aims and performance of the portfolio and statements and valuations are dispatched on a quarterly basis. The appointment of the investment managed will be reviewed from time to time.
## **Reserves Policy**
It is the policy to maintain unrestricted funds at a level sufficient to cover management and administration costs, to respond to emergency applications for grants which arise from time to time and meet ongoing and future commitments approved by the Trustees.
## **Structure, Governance and Management**
## **Governing Document**
H E & E L Botteley Charity Settlement is a registered charity and was formed under a Deed of Trust dated 20[th] March 1979.
## **Appointment of Trustees**
The Trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.
The Trustees annually review the risks that the Charity faces. To date these have mainly related to investment management.
**E & E L BOTTELEY CHARITY SETTLEMENT**
3.
**REPORT OF THE TRUSTEES for the year ended 5[th] April 2024 (** Continued)
## **Appointment of Trustees** (continued)
Where there is a requirement for new Trustees, these would be identified and appointed by the remaining Trustees. The chair of the Trustees is responsible for the induction of any new Trustee which involves awareness of a Trustee’s responsibilities, the governing document, administrative procedures, the history and the philosophical approach of the Charity. New Trustees would receive a copy of the previous year’s annual report and accounts and a copy of the Charity Commission leaflet ‘The Essential Trustee: What you need to know’.
Approved by the trustees on 25[th ] September 2024 and signed on its behalf by:
S L Botteley
…………………………………..
S L Botteley - Trustee
Sutton Coldfield
4.
## **H E & E L BOTTELEY CHARITY SETTLEMENT**
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES**
I report to the trustees on my examination of the accounts of H E & E L Botteley Charity Settlement for the year ended 5th April 2024.
## **Responsibilities and Basis of Report**
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the charity’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.
## **Independent Examiner’s Statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
A P Williams FCCA CTA A J Carter & Co Chartered Accountants
22b High Street Witney Oxon OX28 6RB
6[th] November 2024
**H E & E L BOTTELEY CHARITY SETTLEMENT**
5.
## **STATEMENT OF FINANCIAL ACTIVITIES**
_(including an income and expenditure account)_
## **for the year ended 5[th] April 2024**
|Note
**Income from:**
Donations
Investments
3
**Total incoming resources**
**Expenditure on:**
Charitable activities
4
**Total expenditure**
**Net income/(expenditure) and net**
**movement in funds for the year**
**Other recognised gains and losses**
Realised profit/(losses) on disposal
of investments
Unrealised gains/(losses) on revaluation
of investments
**Net movement in funds**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**Accumulated**
**Designated**
**Total**
**Income**
**Trust Funds**
**Funds**
**2024**
**£**
**£**
**£**
-
-
-
29,709
213
29,922
29,709
213
29,922
27,960
6,908
34,868
27,960
6,908
34,868
1,749
(6,695)
(4,946)
-
(7,641)
(7,641)
-
60,437
60,437
1,749
46,101
47,850
5,288
978,695
983,983
£7,037
£1,024,796£1,031,833|**Total**
**Funds**
**2023**
**£**
90,001
28,432|
|---|---|---|
|||118,433|
|||39,271|
|||39,271|
|||79,162
(8,600)
(81,936)|
|||(11,374)
995,357|
|||£983,983|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derives from continuing activities.
The notes on pages 7 to 14 form part of these financial statements
**H E & E L BOTTELEY CHARITY SETTLEMENT**
6.
## **BALANCE SHEET**
## **as at 5[th] April 2024**
|Note
**Fixed assets**
Investments
8
**Total fixed assets**
**Current assets**
Cash at bank and in hand
**Total current assets**
**Liabilities**
Creditors falling due within one year
9
**Net current assets**
**Total assets less current liabilities**
**Creditors:**falling due after more than 1 year
Provisions for liabilities
**Total net assets**
10
**The funds of the Charity**
Designated income funds
11
Unrestricted income funds
11
Revaluation reserve
Total unrestricted funds
**Total charity funds**|**2024**
**£**
1,017,437
1,017,437
15,356
15,356
960
14,396
1,031,833
-
£1,031,833
1,024,796
7,037
-
7,037
£1,031,833|**2023**
**£**
965,354|
|---|---|---|
|||965,354|
|||19,559|
|||19,559
930|
|||18,629|
|||983,983
-|
|||£983,983|
|||978,695|
|||5,288
-|
|||5,288|
|||£983,983|
These accounts were approved by the board of trustees and authorised for issue on: 25[th] September 2024 and are signed on their behalf by:
S L Botteley R Barney ...................................................... ...................................................... S L Botteley - Trustee R Barney - Trustee
The notes on pages 7 to 14 form part of these financial statements
**H E & E L BOTTELEY CHARITY SETTLEMENT**
7.
**NOTES TO THE ACCOUNTS for the year ended 5[th] April 2024**
## 1. **Accounting Policies**
The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## a) **Basis of Preparation**
The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## b) **Public Benefit Entity**
The H E & E L Botteley Charity Settlement meets the definition of a public benefit entity under FRS102.
## c) **Going Concern**
The Trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern
## d) **Income Recognition Policies**
Items of income are recognised and included in the accounts when all of the following criteria are 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; and
- the amount can be measured reliably.
Income received in advance of a specific performance or provision of other specified service is deferred until the criteria for income recognition are met.
- e) **Interest Receivable** Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the bank.
- f) **Fund Accounting**
Accumulated income and Trust funds are unrestricted funds. The Accumulated Income Fund is available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. The trust fund has been Designated as an investment fund for the generation of income for the furtherance of the funds objectives.
**H E & E L BOTTELEY CHARITY SETTLEMENT**
8.
## **NOTES TO THE ACCOUNTS**
**for the year ended 5[th] April 2024** (continued)
## g) **Grants**
- Grants payable are charged in the year when the offer is conveyed to the recipient except in those cases where the office is conditional, such grants being recognized as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not yet been met at the year end are noted as commitments, but not accrued as expenditure.
## h) **Investments**
Investments are stated at market value at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluations and disposals throughout the year.
- i) **Cash at Bank and in Hand** Cash at bank and cash in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
- j) **Creditors and Provisions** Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## 2. **Legal Status of the Charity**
H E & E L Botteley Charity Settlement is a registered charity and was formed under a Deed of Trust dated 20[th] March 1979.
## 3. **Investment income**
|Dividends
Real Estate Investment Trusts
Other
Interest|2024
£
22,647
2,115
-
5,160
£29,922|2023
£
23,557
2,039
120
2,716|
|---|---|---|
|||£28,432|
**H E & E L BOTTELEY CHARITY SETTLEMENT**
9.
## **NOTES TO THE ACCOUNTS**
**for the year ended 5[th] April 2024** (continued)
## 4. **Analysis of expenditure on charitable activities**
|**Donations:**
Acorns (Children's Hospice)
All Saints Youth Project
Baca
BID Services
Birmingham City Mission
Birmingham Settlement
Caudwell Children
Deafblind UK
Disasters Emergency Committee
Footsteps International
Itambira Island Trust
Jericho
La Pepiniere Ministries
Macmillan Cancer Support
Marie Curie
Mission Aviation Fellowship
Narthex Sparkhill
OM (for Ukraine)
Parkinsons UK
Rema UK
SOAR
St Giles Hospice
The Gap
Tiny Tin's Children's Centre
Torch
Investment management costs
Independent Examiners Fees
Professional fees
**Total**|2024
Total
£
500
-
500
500
1,000
500
500
-
-
-
8,000
-
500
500
-
2,000
-
-
750
8,000
1,250
1,000
500
500
500
27,000
6,908
960
-
£34,868|2023
Total
£
500
500
-
-
1,500
500
-
500
1,000
500
8,000
500
500
500
500
1,500
500
2,000
1,000
8,000
1,000
500
-
-
1,000|
|---|---|---|
|||30,500
6,992
930
849|
|||£39,271|
5. **Net income/(expenditure) for the year**
|_This is stated after charging:_
Independent examiner's fee|2024
£
960|2023
£
930|
|---|---|---|
**H E & E L BOTTELEY CHARITY SETTLEMENT**
10.
## **NOTES TO THE ACCOUNTS**
**for the year ended 5[th] April 2024** (continued)
## 6. **Related party transactions**
S L Botteley, a Trustee, is also a Trustee of Rema UK which has received donations in the year totalling £8,000 (2023 £8,000) and also Itambira Island Trust which has received donations in the year totalling £8,000 (2023 £8,000).
During the year the trustee S L Botteley donated £nil (2023: £90,001) to the charity.
## 7. **Corporation tax**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
## 8. **Investments**
|Market value of investments at 5th April 2023
Purchases and calls
Sales and redemption proceeds
Realised (losses)/gains
Movement in market value
Market value of investments at 5th April 2024
**Shareholdings**
**Shares**
3i Infrastructure Ord NPV
7,105
Aberforth Smaller Cos Trust Ord GBP0.01
900
Allianz Technology Trust Plc Ord GBP0.25
6,800
Artemis Investment Funds
22,400
Astra Zeneca Ord US$ 0.25
125
BB Healthcare Trust Plc
7,425
Blackrock Fund Managers Ltd
4,500
Blackrock World Mining Trust
1,390
BNY Mellon Global Funds Plc US Eqty
21,400
Vistry Group (Bovis Homes Group Ord GBP0.50)
1,419
BP Ord US$ 0.25
2,750
CG Portfolio Fund Plc
150
Reorg Compass - Compass Group Plc
570|2024
£
965,354
246,403
(247,116)
(7,641)
60,437
£1,017,437
2024
£
23,127
12,222
23,630
20,570
13,275
10,959
8,612
7,464
32,460
16,858
13,918
20,156
12,660|2023
£
964,878
188,455
(97,443)
(8,600)
(81,936)|
|---|---|---|
|||£965,354|
|||2023
£
22,381
-
15,130
20,147
25,507
11,212
13,108
9,035
-
10,586
14,677
20,253
11,543|
**H E & E L BOTTELEY CHARITY SETTLEMENT**
11.
**NOTES TO THE ACCOUNTS for the year ended 5[th] April 2024** (continued)
## 8. **Investments (continued)**
|||2024|2023|
|---|---|---|---|
|**Shareholdings**|**Shares**|£|£|
|Diageo Ord 28.935185p|310|8,833|11,374|
|Experian PLC Ord USD0.10|500|16,955|13,405|
|Fidelity Japanese Values Ord GBP0.25|6,800|12,070|11,713|
|Fil Inv Svcs UK|24,759|27,112|25,329|
|Franklin Templeton Inv Mgmt UK Mid Cap|-|-|20,386|
|Franklin Templeton Funds FTF Clearbridge|10,000|11,730|12,840|
|Fulcrum UCITS SICAV|-|-|14,462|
|Fundsmith LLP Equity I Inc NAV|3,805|24,166|35,974|
|GCP Asset backed Ord NPV|-|-|9,590|
|Guinness Asset Management Funds EquityPlc|1,128|33,248|29,984|
|Guinness Asset Management Funds Energy Plc|780|10,779|14,164|
|Harbourvest Gbl Private Equity|700|16,205|14,280|
|HSBC Holdings|1,100|7,055|6,096|
|Intnl Public Partnerships Ltd|-|-|9,404|
|Intnl Public Partnerships Ltd Ord GBP0.0001|6,600|8,250|-|
|Invesco Perpetual UK|-|-|11,050|
|Janus Henderson UK & Europe Funds|16,800|17,741|-|
|JP Morgan AM UK Ltd|-|-|33,615|
|JP Morgan GBL EM Inc Tst PLC|9,000|11,970|11,520|
|JP Morgan Asia Growth & Income Plc|4,700|16,732|17,202|
|JP Morgan Japan Small CAP G&I Plc|1,550|4,789|4,867|
|Legal & General Group Ord GBP0.025|2,775|6,968|-|
|Lloyds Banking Group Ord 10p|-|-|10,897|
|Link Fund Solutions Ltd Trojan X Inc|15,750|20,163|19,906|
|LXI Reit Plc Ord GBP0.01|11,350|22,484|-|
|M&G Securities Limited Charifund Inc|591|8,623|8,797|
**H E & E L BOTTELEY CHARITY SETTLEMENT**
12.
## **NOTES TO THE ACCOUNTS**
**for the year ended 5[th] April 2024** (continued)
## 8. **Investments (continued)**
|**Shareholdings**
**Shares**
Mercantile Inv Trust Plc Ord GBP0.025
10,575
Murray International Trust Ord GBP0.25
12,125
National Grid Ord 11.395p
1,250
NatWest Group PLC Ord GBP1.0769
3,400
Phoenix Grp Holdings Eur0.0001
1,856
Picton Property Income Ltd Ord NPV
-
Prudential Ord
-
Real Estate Credit Inv Limited Ord NPV
8,600
Relx Plc Ord GBP0.1444
525
Reorg of Reckitt - Reckitt Benckiser Group
140
Rio Tinto Ord 10p
215
RIT Cap Partners Ord GBP1
1,050
Royal Dutch Shell
416
Schroder Unit Trusts
20,254
Scottish Mortgage Inv Trust Ord GBP0.05
3,650
Secure Income REIT Plc
-
Smith (DS)
2,800
SSGA SPDR ETFS Europe
-
T Bailey Fund Services Ltd
-
Vanguard Funds PLC
1,050
Vanguard Funds PLC FTSE All World
790
VH GBL Sustainable Energy Opps Plc
-
Warehouse REIT Plc Ord GBP0.01
13,300
Xtrackers ETC Plc Physical Gold
450|2024
£
23,476
30,070
12,912
9,466
10,162
-
-
9,933
17,419
5,985
10,695
18,165
11,565
15,279
31,302
-
11,480
-
-
81,899
79,444
-
10,401
12,388
903,825|2023
£
-
32,543
14,112
8,918
10,097
10,710
7,721
11,395
13,781
8,870
11,358
19,593
9,830
23,237
23,455
10,585
8,610
30,481
20,900
34,757
-
11,755
13,992
10,926|
|---|---|---|
|||868,060|
**H E & E L BOTTELEY CHARITY SETTLEMENT**
13.
## **NOTES TO THE ACCOUNTS**
**for the year ended 5[th] April 2024** (continued)
## 8. **Investments (continued)**
|**Fixed Interest Securities**
**Shareholdings**
**Shares**
Baillie Gifford & Co Strategic Bond
33,700
UK Government Bond 0.125%
-
UK Government Bond 0.25%
21,900
UK Government Bond 4.125%
14,790
Lyxor US TIPS UCITS
275
Royal London Asset Management Bond Z
31,000
Market value of investments at 5th April 2024|2024
£
25,663
-
21,150
14,871
28,185
23,743
113,612
£1,017,437|2023
£
24,736
20,385
-
-
28,966
23,207|
|---|---|---|
|||97,294|
|||£965,354|
|9.
**Creditors: amounts falling due within one year**
Accruals
10.
**Analysis of net assets between funds**
Investments
Cash at bank and in hand
Other net current assets/(liabilities)
Creditors of more than one year
**Total**|General
Designated
Fund
Trust Fund
£
£
-
1,017,437
7,997
7,359
(960)
-
-|2024
£
960
£960
Restricted
Funds
£
-
-
-
-|2023
£
930
£930
Total
£
1,017,437
15,356
(960)
-|
|---|---|---|---|
||£7,037 £1,024,796|£-|£1,031,833|
**H E & E L BOTTELEY CHARITY SETTLEMENT**
14.
## **NOTES TO THE ACCOUNTS**
**for the year ended 5[th] April 2024** (continued)
## 11. **Analysis of charitable funds**
## **Analysis of movements in designated trust funds**
||Balance|Incoming|Resources|Other|Funds|
|---|---|---|---|---|---|
||6.4.2023|resources|expended|gains/losses|5.4.2024|
||£|£|£|£|£|
|Designated trust fund|978,695|
213|(6,908)|52,796|1,024,796|
|**Total**|£978,695|£213|£(6,908)|£52,796|£1,024,796|
|**Analysis of movements in accumulated income**||||||
||Balance|Incoming|Resources|Other|Funds|
||6.4.2023|resources|expended|gains/losses|5.4.2024|
||£|£|£|£|£|
|Accumulated income|5,288|29,709|(27,960)|-|
7,037|
|**Total**|£5,288|£29,709|£(27,960)|£-|
£7,037|