THE SIR ANDREW MARTIN TRUST FOR YOUNG PEOPLE ANNUAL REPORT FOR THE YEAR ENDED 30- JUNE 2021
THE SIR ANDREW MARTIN TRUST FOR YOUNG PEOPLE TRUSTEES, REPORT FOR THE YEAR ENDED 30- JUNE 2021 The Trustees present their annual report and financial statements of the charity for the yéar ended 30 June 2021. The financial statements have been prepared in accordance with the charity's trust deed, the Charities Act 2011 and 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 {FRS102) update bulletin 2 leffeclive 1, January 20191. OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT The objects of the Trust are lo promote such charitable purposes for tha benefit of young people living in Leicestershire and Rutland, in particular, those undertaken by youth organisations, as the tnjstees in their absolute discretion think fit. Grant making policy Modest grants are made to individual young people and the Trust also makes grants to voluntary youth organisations wth which Sir Andrew Martin was closely involved. All grants are made at the discretion of the Trustees lo support Ihe aspirations and needs of young people and Iheir voluntary organisations. Public benefit In planning the Trust's grant making the trustees have given consideration to the Charily Commission's published guidance on public benefit. ACHIEVEMENTS AND PERFORMANCE The Tnjst has made £14,82012020: £15,024) in grants to improve the lives of young people who live in Leicester, Leicestershire or Rutland. The Trust has actively supported the aspirations and needs of young people who have an outstanding skill or talenl, the opportunity lo gain a unique experience, or who are disadvantsged, have disabilities, learning difficulties, special educational needs or mental health issues. The Trust has also supported voluntary youth organisations which are making a significant contribution to benefit young people and the wider community- Investments have been managed throughout the year by the Investment Managers. with performance being monitored by the Trustees of Liverpool Charity and Voluntary Services through its Investment Committee meetings. FINANCIAL REVIEW Income from investments of£32,360 {2020- £35,797) and donations totalling £14,056 (2020: £12,606) was received during the year. Grants of £14,820 {2020.' £15,024) were made. At the year end capital investments were valued at £1,405,328 (2020.. £1,201,366}. Investment policy and powers The trustees have the same full and unrestricted powers of investment in all respects as rfthey were the beneficial owners. The investment strategy is set by the trustees and takes account of recent demands for fLJnds and an assessment of expected future needs (see ReseNes). The investment policy and strategy are
THE SIR ANDREW MARTIN TRUST FOR YOUNG PEOPLE TH TRUSTEES, REPORT FOR THE YEAR ENDED 30 JUNE 2021 reviewed with the inveslment managers at regular intervals. The investment objectivé is to maximise income available to make grants while maintaining the long- temi value of capital. Risk management The main risks to which the charity is exposed as identified by the trustees have been considered and systems have been established to mitigate those risks. ReseThes The Trust Deed permits the spending of capital., the trustees have, however, agreed lo retain the capital for the time being and to invesl il to produce income to make grants. The tnjstees are managing the reserves to balance the needs of current and fL¢ture beneficiaries. It is not anticipated that the needs of beneficiaries will diminish over time. Plans for the future The objectives of the Trust remain unchanged for the fijture., the intention is to continue managing the funds on a consistent basis and distributing income as grants to those in financial need. Second year of Covid-19 concerns Pandemic lockdown reslriclions on meetings for young people's activities and organisalions continued for the whole of the financial year (and beyond). The effect was to severely reduce applications for grants. Whereas bNenty-five applicalions from young peopla and half a dozen or so from their organisations could be received for each quarterly grants, meeting, applications dropped to less than a handful. Almost from the inception of the Trust, tweniy five years ago. until 2019 the trustees had given continuous and growing support by grants to individual young carers, generally alerted to the Trust by Bamardo's Carefree slaff based in Leicester. The trustees were sad to learn of the sudden closure of the Leicester-based support network. The trustees have made enquiries about young carers, support in Leicestershire and Rulland to encourage applications. The trustees discussed how they might encourage applications for grants believing that despite the lockdown there are young people and their organisalions planning for the future and needing financial support. Several aclions were implemented.. lo maintain contact and advertise the Trust more actively a new website was developed and launched A list of numerous voluntary youth organisations that might value a grant was prepared and all received an email which resulled in some enquiries Press releases were written and despatched lo Leicestershire and Rutland magazines and newspapers and to HM Lord-Lieutenants of Leicestershire and Rutland and the High Sheriff of Rutland. (The Trust has historic links with the Lieutenancies.) Professional new large-sGale publicily banners were designed and printed Business cards, a new innovalion, designed by a trustee and aimed at young people were printed with a stock to continue distribution for years a dedicated telephone line was launched and is manned by a trustee BBC Radio Leicester welcomed two of the trustees to a dayiime programme to advertise the Trust
THE SIR ANDREW MARTIN TRUST FOR YOUNG PEOPLE TRUSTEES, REPORT FOR THE YEAR ENDED 30- JUNE 2021 In April 2021, in reflecting on the support and encouragement of the late HRH The Duke of Edinburgh to young people the trustees recognised his inilialive in the introduction of Gift Aid from the 1980's and its continuing importance not least for young people and their voluntary youth organisations in strengthening fund-raising. The proposed 25 Anniversary Celebration of the Trust (2020), delayed dLJe lo Covid-19 remained on the trustees, agenda. Further discussion showed the trustees, continued intention to hold a publicity event when Covid restrictions permit, hopefully in April 2022 and still at the intended venue, Curve theatre, Leicester. STRUCTURE, GOVERNANCE AND MANAGEMENT The Sir Andrew Martin Trusl for Youn People is a registered charity, nLJmber 1042358. It was established by a Trust Deed dated 18 November 1994. Oryanisation, management and delegation The adTlliniStration of the Trust's grant making activities is carried out, at no Gost to the Trust, by a volunteer from Samworth Brothers. The Trustees meet quarterly to make grants and review the Trust's perf0mlan, its financial position and its investments. The Trustees, in their power. have delegated accountanGy matters lo LCVS. Trustee recruitment and appointment Having considered relevant skills, experience, and geographical requirements. polenlial new Trustees are approached by the existing Trustees and then appointed with the agreement of the Trustees. The Trustees are also responsible for the induGtion and training of new Trustees. REFERENCE AND ADMINISTRATIVE DETAILS Principal office 151 Dale Street, Liverpool L2 2AH Trustees The Trustees during the year were.. Mr. David Knowles Mr. John Aldridge Mr. Terry Higgins Mr. David Smith Mr. Alec Jeffery Ms. Susan McEniff Mr. David Andrews Miss. Alison Jolley Liverpool Charity and Voluntary Services The charity's corporate trustee, Liverpool Charity and Voluntary servIs (LCVS), 151 Dale Street, Liverpool L2 2AH, is incorporated under the Companies Act as a company limited by guarantee thoul share capitsl as company number 181759. It is also a registered charity, number 223485, and a Charitable Trust Corporation.
THE SIR ANDREW MARTIN TRUST FOR YOUNG PEOPLE YH TRUSTEES, REPORT FOR THE YEAR ENDED 30 JUNE 2021 The Trustees of LCVS, who are also its Directors, were as follows during the year= Heather Akehurst. Dorcas Akeju, Duncan Brookes (resigned 14, December 2020), Jonny Hesketh, Michael James th (resigned 27, April 2021), Steven Long (resigned 29 January 20211, Andrew Lovelady (resigned 1 st Dember 2020), Kenneth Pery, John Pri, Michael Salla, Louise Scholes, James Sloan, Michael Thomas and Susan Williams. The following trustees were appointed 20, May 2021- Sonia Bassey MBE, Maxine Ennis, Neil John Sturmey and Henry Terefenko. Pmfessional advisers Trust Administrator Sir Andrew Martin Trust Administrator Walkers Charnwood Bakery 200 Madeline Road Beaumont Leys Leicester LE4 1 EX Independent Examiner Anna spenr-GraY RSM Tax and Accounting Limited 20 Chapel Street, Liv8rpool L3 9AG CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent, ME19 4JQ Investec Wealth and Investment 100 Old Hall Street Liverpool, L3 9AB Bankers Investment Managers TRUSTEES. RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The charity trustees are responsible for preparing a trustees, annual report and financial ststements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the finanGial statements, the trustees are required to.. selact suitsble accounting policies and then apply them consistently- observe the methods and principles in the applicable Charities SORP., make judgements and estimates that are reasonable and prudent- state whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continuè in business.
THE SIR ANDREW MARTIN TRUST FOR YOUNG PEOPLE TH TRUSTEES, REPORT FOR THE YEAR ENDED 30 JUNE 2021 The trustees are responsible for keeping proper accounting records thal disclose with reasonable aGcuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and t8king reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Trustees on and signed on their behalf by David Knowlès Chaimian Dated: 12 <
Inde endent Examlner's Re The Sir Andrew Martin Trust for Youn ort to the Trustees of Peo I report to the trustees on my examination of the acc£Junts of The Sir Andrew Martin Trust for Young People ('tha charity'l for the year ended 30 June 2021. which are set out on pages 8 to 15. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Chanties Act 2011 ('the 2011 Act.). I report in respect of my examination of the GhartVs 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 Comrnission under section 145 (5}(b) of the 2011 Act. An independent examination does not involve gathering all the evidence that would be required in an audil and consequenuy does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and rA)nduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently. l express no opinion as to whether the accounts present a 'true and fair view and my report is limited to those speafic matters set out in the independent examinerfs statement. Independent examinerfs statement I have completed my examination. I confim that no material matters have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect.. 1. accounting records were not kept in respect of the charity as required by seclion 130 of the 2011 Act" or 2. the accounts do not accord with those records. or 3. the accounts do not comply with the applicable requirements conceming the fomi and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that Ihe 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 examinalion to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. iL4 7cLr hfrK*wJin4 Name: Anna Spencer-Gray Name of applicable listed body.. The Institute of Chartered Accountants in England and Wales Relevant professional qualification or body: Chartered Accountant ON BEHALF OF RSM UK TAX AND ACCOUNTING LIMITED Chartered Accountants 14, Floor 20 Chapel Street Liverpool L3 9AG Date.. 18 October 2021
THE SIR ANDREW MARTIN TRUST FOR YOUNG PEOPLE TH STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2021 -UNRESTRICTED FUNDS------- th Year to 30 June 2021 Income Capital Funds Funds Year to th 30 June 2020 Total Total Notes Income from: Donations & legacies Investments 14,056 32,360 14,056 32,360 12,606 35,797 Tolal income 46,416 46,416 48,403 Expenditure on: Raising funds Charitable activities 300 16,906 300 16,906 255 17.213 Total expenditure 17,206 17,206 17,468 Net income before investment galns and {losses) 29,210 29,210 30,935 Nel gainsl(lossesl on investments 173.962 173,962 (94.069) Net incomel(expenditure) before transfers between funds 29,210 173,962 203,172 {63,1341 Transfers between funds (30,0001 30,000 Net movement in funds 1790) 203,962 203,172 {63,1341 Reconciliation of funds.. Total funds brought foNard 8,936 1,201,366 1,210,302 1,273,436 Total funds carried fonvard 8,10 8,146 1,405,328 1,413,474 1,210,302 The notes on pages 1010 15 form part oflhese accounts. The nel movement in funds in the year was derived from the conlinuing activity of Ihe charty. Thase unaijdited finanaal statèménts hava b&en subjected to independer*l examination. See report on page 7.
THE SIR ANDREW MARTIN TRUST FOR YOUNG PEOPLE TH BALANCE SHEET AS AT 30 JUNE 2021 -UNRESTRICTED FUNDS- Al 30 June 2021 At 30 June 2020 Notes Fixed assets: Investments 1,405,328 1.201,366 Current assets- Cash at bank 9,686 10,607 Current liabilitSes: Credilors {1,5401 (1.6711 8,146 8,936 Net assets 1,413.474 1,210,302 The funds of the charily: 8,10 Capital Funds Income Funds 1,405,328 8,146 1,201,366 8,936 1,413,474 1,210,302 Approved and aulhorised for issue bythe Trustees on and signed on their behalf by Davld Knowles Chaimian Dated: Thèsé unaudited financial slalements have b&&n subjèclÉd to indèpèndént èxamination. See report on page 7,
THE SIR ANDREW MARTIN TRUST FOR YOUNG PEOPLE TH NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2021 ACCOUNTING POLICIES Basis of preparation The accounts have been prepared under the historical cost convention with items recognised at cost or trans8Ction value unless otherwise stated in the relevant notels) lo these accounts. The financial slalements have been prepared in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and Charities Act 2011. The Irust constitutes 8 public benefit entity as defined by FRS 102. The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The Charity has taken advantage of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. Going concern At the time of approving the accounts. given the Covid-19 pandemic, the Irustees have a reasonable expectation that the charity has adequate reSoUrS to continue in operalional existence for the foreseeable fulure. Thus the truslees continue to adopl the going concern basis of accounting in preparing the accounts. Fund accountlng Unrestricted fLJnds are considered free, reseNes and are expendable at the discretion of the Trustees in furtheran of the general objectives of Ihe Trust. Investments Investments held as fixed assets. in accordan with SORP 2015 are stated and included in the balance sheet at their market value al the valualion dale nearest to the year end. Realised and unrealised gains and losses are dealt wth as movements on the Capital Fund. Investments are valued at the mid-market price on the valuation date. The main form of financial risk fad by the charity IS that of volatility in equity markets and investmenl markets due to wider economic conditions. The TrLtstees conduct a thorough risk analysis in conjunction with thèir inveslment managers at each of their Investment Committee meetings. Income recognition Income from investments comprises dividend income and interest and are accounted for when received in the financial year. Donations are recognised at the earlier of notification or date of receipt, in the case of the third party donations and legacy income when received by the organisation. Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, il is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure recognition Ail expenditure is accounted for on an accruals basis. All expenses, induding support costs and These unauiiited financial statements have been subjected lo In(Jependent examination. See report on page 7. io
THE SIR ANDREW MARTIN TRUST FOR YOUNG PEOPLE TH NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2021 governance costs. are allocated or apportioned lo the applicable expenditure headings in the statement of financial activities. Raising funds costs relate to expenses incurred in the administration of the investmenl assets. Charilable activities includes grant funding. along with associated support cosls. to beneficiaries. These are dealt with in the Ststement of Financial Activities when payment has been approved by the charity. GovemanGe costs relate to compliance with constilulional and statutory requirements and specifically include all costs inourred by the charity in producing the Annual Report. Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held al call with banks, other short- term liquid investments with original maturities of three months or less, and bank overdrafts. Financial instruments The charity has elected to apply the provisions of Seclion 11 'B8sic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 10 811 of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes paty to the contractual provisions ofthe inslrument. Financial assets and liabilities are offset, with the nel amounts presented in the financial statements, when there is a legally enforceable right to sel off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assels, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unlèss the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Derecognltion of Ilnanclal Ilabllltles Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. Taxation The charity benefits from various exemptions from taxation afforded by lax legislation and is not liable to corporation lax on income or gains falling within those exemptions. The charity is not able to recover Value Added Tax. Expenditure is recorded in thè accounts inclusive of VAT. Th&s8 unaudited financial slalemenls have been subjacted lo indèpèndent examination. See report 011 Pa9e 7.
THE SIR ANDREW MARTIN TRUST FOR YOUNG PEOPLE TH NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2021 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS In the application of the charity's accounting policies, the twstees are required to make judgements, eslimales and assumptions about the carrying arnount of assels and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experien and other factors that are considered to be relevant. Actual results may differ from these estimales. The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and futLAre periods. DONATIONS AND LEGACIES Income Funds Capital Funds Total 2021 Total 2020 General donalions £14,056 £14,056 £12,606 In 2020 the total income of £12,606 was unrestricted. RAISING FUNDS 2021 2020 Investment administration fees - LCVS £300 £255 Inveslment administration fees expenditure of £255 in 2020 was unreslricted. These unaudited financial statements have been subjected to independenl Èxamination. See report on page 7. 12
THE SIR ANDREW MARTIN TRUST FOR YOUNG PEOPLE TH NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2021 CHARITABLE ACTIVITIES- GRANT FUNDING 2021 2020 Granl funding 14.820 15,024 14,820 15,024 Support and govemance costs.. Financial administration - LCVS Independent examination fee Trustee meetings Volunteer expenses Business cards Bank charges Website 1,294 252 1,431 246 52 50 96 92 302 60 400 2,086 2,189 16,906 17,213 No trustee other than LCVS (see note 111 has received any remuneralion for Iheir services as trustee {2020- Nill. During the year no truslee was reimbursed out of pocket expenses (2020.. £Nil). During the year the following grants were made to individual young people and charitable voluntary youth organisations.. Grants of £1,000 and over to organisations: Centre for Fun and Families Chamwood 20'.20 Leicestershire & Rulland Youth & Family SeNiGes Loughborough Sea Cadets Peter Le Marchant Trust Rutland Music Trust The New Futures Project Winstanley Wizards Table Tennis Club 1,000 1,000 1,000 1,500 1,000 1,000 1,000 1,000 8,500 3,550 2,770 Other grants to voluntary youth organisations Grants to individuals £14.820 In 2020 expenditure of £17,213 was unrestricted. Thèse unaudited financial slalements have been subjected to independent examination. See report on page 7. 13
THE SIR ANDREW MARTIN TRUST FOR YOUNG PEOPLE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30- JUNE 2021 FIXED ASSET INVESTMENTS 2021 2020 Quoted investments: Market value at 1. July 2020 Capital introduced Net unrealised gainsl{lossesl on investment assets 1,201,366 30,000 173,962 1.269.935 25.500 (94,0691 Market value at 30 June 2021 1,405,328 1,201,366 Book value at 30 June 2021 940,858 910,858 The trust holds 100 % of ils investments in a Charity Commission approved pooling scheme, the Settlors, Trust Fund ISTF), administered by Liverpool Charity and Voluntary servIs and managed by Investec Wealth and Investment. At 30, June 2021, the assets of the STF fund had a total market value of £33,037.531 {2020.. £28.526,494) of which £1,405,328 (2020.. £1,201,366) is an asset of the trust. CREDITORS 2021 2020 Financial administration - LCVS Independent examination fee 1,294 246 1,431 240 1,671 UNRESTRICTED FUNDS Income Fund.. Investment income and donalions received for distribution as grants to individual young people and charilable voluntary youth organisations. Capital Fund.. Funds held provide income for the on-going activities of the trust. TRANSFERS BETWEEN FUNDS During the year an amount of £30,000 was transferred from income funds to capital funds, this is to reflect an addition lo investments. These unaudited financial statements have bethn subjacted to independent examination. See report on page 7. 14
THE SIR ANDREW MARTIN TRUST FOR YOUNG PEOPLE TH NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2021 10. RELATED PARTY TRANSACTIONS Raising funds.. include £30012020: £2551 payable to LCVS to cover capital administration costs. Charitable activities.- these include £1,294 (2020= £1,431) payable to LCVS in respect of accountancy and trust administration. th At 30 June 2021, creditors included an accrual of £1,294 to LCVS (2020.- £1,431). LCVS is related lo the Trust by virtue of LCVS being the Trusl's corporate trustee. Thase unaudited financial slalomènls have been subl8cted to independent examinab'on. Se8 report on page 7. 15