THE ANNE AND JOHN WALTERS CHARITABLE TRUST
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021
CHARITY NO: 1040859
THE ANNE AND JOHN WALTERS CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 5 APRIL 2021
Status The charity is a registered charity with number 1040859 Constitution The charity is constituted under a trust deed dated 19 July 1994 Address 153a Metchley Lane Harborne Birmingham B17 0JL Bankers Unity Trust Bank Four Brindley Place Birmingham B1 2JB. Independent examiner P Georgiades Chartered Accountant Flint & Thompson 2-6 Manor Square Solihull B91 3PX Objects To provide payments for charitable purposes to organisations which support the prevention and treatment of epilepsy.
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THE ANNE AND JOHN WALTERS CHARITABLE TRUST
TRUSTEES’ REPORT
FOR THE YEAR ENDED 5 APRIL 2021
The trustees present their report for the year ended 5 April 2021.
Constitution and objects
The Anne and John Walters Charitable trust is a registered charity constituted under a trust deed dated 19 July 1994.
The charity continues to provide charitable donations to organisations which support the prevention and treatment of epilepsy, care for those suffering and their families and any other local charitable causes which the trustees may from time to time determine.
When considering the charity’s activities the Trustees are mindful of the Charity Commission’s guideline on public benefit.
Achievements and performance
The trustees continue to review the asset portfolio with a view to determining how best the charity can fulfil its objectives. During the year, the charity made several charitable donations amounting to £99,200 in accordance with the objectives of the charity
Financial review
The results for the year are shown in the Statement of Financial Activities on page 5 and show a surplus of financial year of £196,501 (2020: £65,902 surplus)
Trustees
The Trustees who served during the year were:
A. Fisher I. Humphrey
R. Wishart
Selection and appointment of Trustees
The selection and appointment of new Trustees is determined by the Board of Trustees in office at that time. This policy is based on a complementary age profile, general experience in managing charities and also to provide complementary skills to the other Trustees.
Investment powers and policy
The Trustees have discretion over the investment power of the fund. The investments are made with the purpose of generating income and capital growth that will maintain real value to the funds expenditure on its charitable objectives.
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THE ANNE AND JOHN WALTERS CHARITABLE TRUST
TRUSTEES’ REPORT
FOR THE YEAR ENDED 5 APRIL 2021
(Continued)
Grant making
General unrestricted funds comprise the accumulated surpluses and deficits on general funds and the cumulative realised and unrealised gains on investments. They are available for use at the discretion of the Trustees in furtherance of the general charitable objectives. In addition, the Trustees may designate certain funds for particular purposes.
Reserves policy
In the opinion of the Trustees the charity’s assets are available and adequate to fulfil the obligations of the charity. The level of reserves held is sufficient to enable the charity to operate at its current level for the foreseeable future.
Compliance with statutory requirements
The Trustees confirm that the accounts comply with current statutory requirements and with those of the governing document.
On behalf of the Trustees
A. Fisher
I. Humphrey
R. Wishart
…………………………….
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THE ANNE AND JOHN WALTERS CHARITABLE TRUST
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES
FOR THE YEAR ENDED 5 APRIL 2021
Independent Examiner’s Report to the Trustees of The Anne and John Walters Charitable Trust.
I report to the charity trustees on my examination of the accounts of the charity for the year ended 5 April 2021 which are set out on pages 5 to 10.
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 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:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
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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.
P Georgiades Chartered Accountant Flint & Thompson 2-6 Manor Square Solihull B91 3PX
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THE ANNE AND JOHN WALTERS CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 5 APRIL 2021
| Incoming resources Note Investment Income Rental income Sale of Freeholds Total incoming resources Resources expended Charitable expenditure Support costs 2 Governance costs 3 Donations payable Total resources expended Net Incoming /(outgoing)resources for the year Other recognised gains and losses Gains/(Losses) on disposal of investment assets Realised Unrealised Surplus for the year Total funds brought forward Total funds carried forward |
Unrestricted Funds 2021 2020 £ £ 157,536 162,732 - 35,390 157,536 198,122 64,380 64,185 2,400 2,400 99,200 134,000 165,980 200,585 (8,444) (2,463) (5,555) (1,635) 210,500 70,000 196,501 65,902 6,757,668 6,691,766 6,954,169 6,757,668 |
Unrestricted Funds 2021 2020 £ £ 157,536 162,732 - 35,390 157,536 198,122 64,380 64,185 2,400 2,400 99,200 134,000 165,980 200,585 (8,444) (2,463) (5,555) (1,635) 210,500 70,000 196,501 65,902 6,757,668 6,691,766 6,954,169 6,757,668 |
|
|---|---|---|---|
| 198,122 | |||
| 64,185 2,400 134,000 |
|||
| 200,585 | |||
| (2,463) (1,635) 70,000 |
|||
| 65,902 6,691,766 |
|||
| 6,757,668 |
There are no recognised gains and losses other than the surplus for the financial year of £196,501 (2020: £65,902 surplus)
All the charity’s operations are continuing operations and there were no operations discontinued or acquired during the year.
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THE ANNE AND JOHN WALTERS CHARITABLE TRUST
BALANCE SHEET
FOR THE YEAR ENDED 5 APRIL 2021
| Note Fixed Assets Tangible Assets 4 Current Assets Trade debtors 5 Bank accounts 6 Current Liabilities Amounts falling due within one year 7 Net Current Assets (Liabilities) Net Assets Funds Unrestricted funds 8 |
2021 £ £ 6,688,093 13,477 616,702 630,179 364,103 266,076 6,954,169 6,954,169 |
2021 £ £ 6,688,093 13,477 616,702 630,179 364,103 266,076 6,954,169 6,954,169 |
2020 £ £ 6,566,593 15,509 548,272 563,781 372,706 191,075 6,757,668 6,757,668 |
2020 £ £ 6,566,593 15,509 548,272 563,781 372,706 191,075 6,757,668 6,757,668 |
|---|---|---|---|---|
| 630,179 364,103 |
563,781 372,706 |
|||
| 6,954,169 | 6,757,668 | |||
| 6,954,169 | 6,757,668 |
The financial statements on pages 5 to 11 were approved by the Board of Trustees on …………………. and are signed on its behalf by the Trustees;
A. Fisher
I. Humphrey
R. Wishart
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THE ANNE AND JOHN WALTERS CHARITABLE TRUST
NOTES ON FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2021
1 Summary of significant accounting policies
(a) General information and basis of preparation
The Anne and John Walters Charitable Trust is constituted under a trust deed. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are to provide funds to organizations which support the prevention and treatment of epilepsy.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and UK Generally Accepted Accounting Practice.
The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £1.
There are no material uncertainties regarding going concern.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Fund accounting
Unrestricted funds are 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.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. Income arising on designated funds can be used in accordance with the objects of the Charity and is included in unrestricted funds.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund.
Donations and similar incoming resources
These are included in the Statement of Financial Activities when the charity becomes entitles to the donation or similar income and any conditions for receipt are met and that the Trustees are reasonably certain they will receive it.
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THE ANNE AND JOHN WALTERS CHARITABLE TRUST
NOTES ON FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2021
(Continued)
Income from property
Rental income is recognised in the accounting period to which it is attributable.
Premiums received when leases are extended are credited to the income statement over the period of the term of the lease.
Investment income
Investment income is recognised in the Statement of Financial Activities when receivable and is shown, where appropriate, net of any associated tax credits.
Expenditure
Expenditure is allocated to expense headings on an accruals basis and is shown gross.
Grants and donations
These are included in the Statement of Financial Activities when they are made.
Investment properties
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in ‘net gains / (losses) on investments’ in the Statement of Financial Activities.
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THE ANNE AND JOHN WALTERS CHARITABLE TRUST
NOTES ON FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2021
(Continued)
2 Support Costs
| Management fees Rent, rates and water Insurance Repairs and maintenance Bank charges Management and administration Legal fees Lighting and Heating 3 Governance Costs Independent examiners fees |
2021 £ 23,435 5,521 9,713 20,897 87 1,170 2,824 733 64,380 2021 £ 2,400 2,400 |
2020 £ 20,257 4,042 650 37,239 91 745 776 384 |
|---|---|---|
| 64,184 | ||
| 2020 £ 2,400 |
||
| 2,400 |
4 Tangible Fixed Assets
| At 6 April 2020 Disposals Additions Revaluation during the year Transfers At 5 April 2021 |
Freehold Properties Freehold Ground Rents Leasehold Properties Leasehold Ground Rents Total £ £ £ £ £ 3,995,000 2,315,768 255,000 825 6,566,593 - - (89,000) - - - - - (89,000) - 185,000 25,500 - - 210,500 - - - - - |
|---|---|
| 4,180,000 2,252,268 255,000 825 6,688,093 |
Losses of £5,555 were realised on the disposal of freehold ground rents and these have been disclosed in the Statement of Financial Activities.
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THE ANNE AND JOHN WALTERS CHARITABLE TRUST
NOTES ON FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2021
(Continued)
5 Other debtors
| 2021 2020 £ £ Other Debtors - 7,000 Rents Receivable 13,477 8,509 13,477 15,509 6 Cash at Bank and in hand 2021 2020 £ £ Unity Trust Bank 616,702 548,272 616,702 548,272 7 Trade creditors 2021 2020 £ £ Other creditors Accruals - 2,400 - 2,507 Deferred income 361,703 370,199 364,103 372,706 As stated in Note 1 Income from property, premiums to extend leases are credited to the income statement over the period of the lease. 2021 2020 £ £ Deferred income At 6 April 2020 370,199 391,703 Lease extensions during year/(Adjustments) - (12,639) Credited to income statement (8,496) (8,865) At 5 April 2021 361,703 370,199 |
2020 £ 7,000 8,509 |
|
|---|---|---|
| 15,509 | ||
| 2020 £ 548,272 |
||
| 548,272 | ||
| 2020 £ - 2,507 370,199 |
||
| 372,706 | ||
| 370,199 |
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THE ANNE AND JOHN WALTERS CHARITABLE TRUST
NOTES ON FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2021
(Continued)
8 Unrestricted funds
| General funds | Balance at 5 April 2020 £ Movement Incoming £ 6,757,668 157,536 |
in resources Outgoing £ (165,980) |
Investment Gains £ Balance at 5 April 2021 £ 204,945 6,954,169 |
|---|---|---|---|
9 Transactions involving Trustees
No Trustee has had any beneficial interest in any material contract undertaken, or on behalf of the charity.
10. Related Party Disclosures
There are no related party disclosures required.
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