## **The Annie Tranmer Charitable Trust**
Annual Report and Financial Statements
Year Ended 5 April 2021
## **THE ANNIE TRANMER CHARITABLE TRUST Annual report and financial statements for the year ended 5 April 2021**
__________________________________________________________________________________________
## **Contents**
## **Page:**
2 Report of the trustees 4 Independent examiner’s report 5 Statement of financial activities 6 Balance sheet 7 Notes forming part of the financial statements __________________________________________________________________________________________
## **Trustees**
VA Lewis NJ Bonham-Carter FP Grieve ME Allen H Wykes-Sneyd
## **Trust Administrator**
Mrs A Williams, 55 Dobbs Lane, Kesgrave, Ipswich, Suffolk IP5 2QA
## **Registered charity number**
1044231
## **Independent Examiner**
DJ Franklin BA FCA, Franklins, Chartered Accountants, Burcott, School Lane, Forward Green, Earl Stonham, Suffolk, IP14 5EL
## **Solicitors**
Clapham and Collinge, St Catherine’s House, All Saints Green, Norwich NR1 3GA
## **Investment managers**
Smith & Williamson, 25 Moorgate, London, EC2R 6AY
**Bankers** Lloyds Bank Plc, PO Box 4, 13 Cornhill, Ipswich, Suffolk IP1 1DG
**THE ANNIE TRANMER CHARITABLE TRUST Report of the trustees for the year ended 5 April 2021**
__________________________________________________________________________________________
The trustees present their annual report and financial statements of the charity for the year ended 5[th] April 2021. 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, 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 (FRS 102) published on 16 July 2014.
## **Status and administration**
The Charity is constituted by a Trust Deed dated 4 April 1989 annexed to the will of Annie Tranmer, which was proved at Ipswich District Probate Registry on 19 May 1994, and a Deed of Appointment dated 15 December 1994. The Charity is registered under the Charities Act 1960 (Registered Charity number 1044231), completing registration on 16 February 1995.
## **Trustees**
The trustees of the charity who served throughout the year were:
FP Grieve (6 September 2010) - Chair of Trustees VA Lewis (15 December 1994) NJ Bonham-Carter (23 August 2007) ME Allen (4 January 2016) H Wykes-Sneyd (8 October 2018)
The trustees were appointed by the Deeds of Appointment dated as shown above.
## **Objectives and activities for the public benefit**
The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives and in planning future activities and setting the grant making policy for the year. The objectives of the Charity in the Deed of Appointment are:
- (i) To advance charitable purposes by the making of grants to Registered Charities based in Suffolk and adjacent counties;
- (ii) To advance charitable purposes by the making of grants to National Charities having regard to the express wishes of Mrs Tranmer during her lifetime;
- (iii) The advancement of education and historical research relating to the national monument known as the Sutton Hoo burial site and the Sutton Hoo estate;
- (iv) To protect and preserve for the benefit of the public the Sutton Hoo burial site and such other features of the Sutton Hoo estate as are of special interest; (This objective now achieved)
- (v) To further the education of children and young persons in the County of Suffolk. To educate and assist young persons through their leisure time activities so to develop their physical, mental and spiritual capacities that they may grow to full maturity as individuals and members of society and their conditions of life may be improved; and
- (vi) Generally for such good purposes or objects which are from time to time recognised as exclusively charitable according to the law of England and Wales as the trustees in their absolute discretion think fit.
## **Organisation**
The trustees determine the general policy of the charity. Decisions made by Trustees’ are on a unanimous basis.
1
**THE ANNIE TRANMER CHARITABLE TRUST Report of the trustees for the year ended 5 April 2021** _**(Continued)**_
## **Review of activities**
The trustees made grants totalling £90,265 during the year ended 5 April 2021 (2020: £101,448), all in accordance with the Trust’s charitable objectives. The trustees consider that the grants paid in the year have met with the ongoing charitable objectives of the Trust.
The charity received investment income of £128,282 (2020: £132,135). £90,265 (2020: £101,448) was spent on grants, £15,124 (2020: £16,835) to cover support costs, of which £6,220 (2020: £7,476) was for governance costs. Investment management fees were £22,149 (2020: £5,500). A surplus of £744 was transferred to reserves (2020: £8,352).
As reported last year the Covid-19 crisis has had a severe impact on the economy which, in turn, significantly effected financial markets in the latter part of the previous financial year resulting in unprecedented falls in the value of investments in securities. At 5 April 2020 the market value of the Trust’s investments had fallen by £872,013 in the year ended on that date. Since then the value has substantially recovered leading to a net increase in funds at 5 April 2021, after the surplus of £744 referred to above, of £724,303 (2020: net decrease of £863,661).
## **Grant making policy**
The charity receives applications for funding from institutions and individuals. The trustees review the applications against the objectives of the charity before deciding whether or not to authorise the application and make the grant.
## **Investment powers and policy**
Trustees are governed by the Deed of Appointment which permits any investment comprised in the Trust fund to be held in the name of any clearing bank and trust corporation of any stockbroking company, which is a member of the Stock Exchange (or subsidiary of such a stockbroking company) as nominee for the Trustees and to pay any such nominee reasonable and proper remuneration for acting as such.
The charity aims to maintain investment income at constant levels to allow a similar level of grant funding year after year. In the year this was achieved with investment income of £128,282 (2020: £132,135) and a return on the portfolio of 3.4% (2020: 4.3%).
## **Reserves policy**
It is the trustees' aim to maintain reserves in real terms so as to produce an income from investments sufficient to continue to fund grant awards at the current annual level. The Trustees consider that this current level of reserves is sufficient for this purpose in normal economic conditions.
However, given the effects on the financial markets of the Covid-19 crisis, referred to above, the Trustees will continue to carefully monitor the level of grants made in relation to any continuing fall in income.
## **Risk management policy**
The trustees have conducted a review of the major risks to which the charity is exposed and systems are in place to mitigate these risks.
2
**THE ANNIE TRANMER CHARITABLE TRUST Report of the trustees for the year ended 5 April 2021** _**(Continued)**_
## **Trustee recruitment, induction and training**
In the event of Trustees needing to make the appointment of a new trustee they would seek to appoint a member of the legal or medical professions and, or a suitable lay person. The trustees consider that as most of the funds distributed are to other charities and local authority bodies this experience would be appropriate.
## **The financial activities**
The financial activities of the charity are shown in the Statement of Financial Activities on page 5.
## **Plans for the future**
The trustees plan to continue to provide grants in accordance with the charity’s objectives at a similar relationship to investment income.
## **Statement of trustees’ responsibilities**
Law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity’s financial activities during the year and of its financial position at the end of the year.
In preparing those financial statements, the Trustees are required to:
- select suitable accounting policies and apply them consistently
- make reasonable and prudent judgements and estimates
- state whether accounting standards and the statement of recommended practice have been followed, and to disclose and explain any departures therefrom
- prepare the accounts on a going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy 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. 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.
## **Approved by the Board of Trustees on 27 August 2021**
## **FP Grieve**
## **Chair of Trustees**
3
## **THE ANNIE TRANMER CHARITABLE TRUST INDEPENDENT EXAMINER’S REPORT**
I report on the accounts of the Annie Tranmer Charitable Trust for the year ended 5 April 2021, which are set out on pages 5 to 12.
## **Respective responsibilities of trustees and examiner**
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the Charities Act;
- to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act; and
-
- to state whether particular matters have come to my attention.
## **Basis of independent examiner’s report**
My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out below.
## **Independent examiner’s statements**
In connection with my examination, no matter has come to my attention:
- (1) which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 130 of the Charities Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting
- requirements of the Charities Act
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
## **DJ Franklin BA FCA**
ON BEHALF OF Franklins Chartered Accountants Burcott School Lane Forward Green Suffolk IP14 5EL **27 August 2021**
4
## **THE ANNIE TRANMER CHARITABLE TRUST Statement of financial activities for the year ended 5 April 2021**
__________________________________________________________________________________________
|**Note**
**Income and endowments**
Investment income
2
**Total income**
**Expenditure**
Charitable activities
3
Raising funds
4
**Total expenditure**
**Net income before gains (losses) on investments**
Net gains (losses) on investment assets
**Net income (deficit) and net movement in funds**
Fund balances at 6 April 2020
**Fund balances at 5 April 2021**|**Unrestricted funds**
**2021**
2020
**£**
£
**128,282**
132,135
**128,282**
132,135
**105,389**
118,283
**22,149**
5,500
**127,538**
123,783
**744**
8,352
**723,559**
(872,013)
**724,303**
(863,661)
**3,147,546**
4,011,207
**3,871,849**
3,147,546|
|---|---|
All amounts relate to continuing activities.
The notes on pages 7 to 12 form part of these financial statements.
5
## **THE ANNIE TRANMER CHARITABLE TRUST Balance sheet at 5 April 2021**
|____________________________________________
**Note**
**Fixed assets**
Investments
5
**Current assets**
Debtors
6
Cash at bank
**Liabilities:**
Creditors falling due within one year
7
**Net current assets**
**Net assets**
**Funds**
Unrestricted – General|______________________________________________
**2021**
2020
**£**
**£**
£
£
**3,802,441**
3,100,575
**8,797**
-
**118,950**
59,706
**127,747**
59,706
**(58,339)**
(12,735)
**69,408**
46,971
**3,871,849**
3,147,546
**3,871,849**
3,147,546
**3,871,849**
3,147,546|
|---|---|
## **Approved and authorised for issue by the Board of Trustees on 27 August 2021**
## **FP Grieve**
## **Chair of Trustees**
The notes on pages 7 to 12 form part of these financial statements.
6
## **THE ANNIE TRANMER CHARITABLE TRUST Notes forming part of the financial statements for the year ended 5 April 2021**
## **1 Accounting policies**
_Basis of preparation and assessment of going concern_
The financial statements are prepared under the historical cost convention with items recognised at cost or transaction value, with the exception of investments which are stated at market value. The financial statements 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) issued on 16 July 2014 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011 and the UK Generally Accepted Practice as it applies from 1 January 2015.
The trust constitutes a public benefit entity as defined by FRS102.
The trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern.
_The following principal accounting policies have been applied._
## _Income_
Income from investments is recorded in the financial statements when due.
## _Expenditure_
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to expenditure. All expenditure, except grants, is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Grants payable are recorded in the financial statements in the year in which they are paid. All other expenditure is accounted for on an accruals basis.
_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 revaluation and disposals throughout the year. _Realised gains and losses_
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between the sales proceeds and opening market value (purchase date if later). Unrealised gains and losses are calculated as the difference between the market value at the year end and opening market value (or purchase date if later).
## _Fund accounting_
Unrestricted funds comprise accumulated surpluses and deficits. They are available for use at the discretion of the trustees in furtherance of the charitable trust’s objectives. Unrestricted funds include designated funds where the trustees, at their discretion, have created a fund for specific purposes.
_Taxation_ The trust is not liable to taxation on its income and recoverable tax is accrued within the accounts. Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
## _Support and governance costs_
All support and governance costs were allocated to charitable activities. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to the statutory examination and legal fees.
7
## **THE ANNIE TRANMER CHARITABLE TRUST Notes forming part of the financial statements for the year ended 5 April 2021** _**(Continued)**_
## **2 Investment income**
|Bonds
Property
Alternatives and Multi-Asset
Equities
Bank interest
**3**
**Charitable activities**
Grants payable to individuals (note 3b)
Grants returned from previous years (individuals)
Grants payable to institutions (note 3c)
_Support costs_
Secretarial costs
Office equipment
Travel expenses
Postage, printing and stationery
Trustee’s insurance
Trustees’ expenses
Governance costs (note 3a)
**_a) Governance costs_**
Independent examination
Other accounting and taxation services
Other charges
**_b) Grants payable to individuals_**
18 individual grants (2020: 30) totalling:|
|
|---|---|
|||
|||
|||
|||
|||
8
## **THE ANNIE TRANMER CHARITABLE TRUST**
## **Notes forming part of the financial statements for the year ended 5 April 2021** _**(Continued)**_
__________________________________________________________________________________________
**3 Charitable activities** _**(Continued)**_
|**haritable activities****_(Continued)_**|||
|---|---|---|
||**2021**|2020|
|**_c) Grants payable to institutions_**|**£**|£|
|Adfam|**-**|500|
|Age UK Suffolk|**-**|2,000|
|Alumah|**500**|-|
|Angling 4 Sucess|**834**|500|
|Anthony Nolan Trust|**500**|-|
|Arkwright|**-**|1,100|
|Asperger East Anglia|**500**|500|
|Asthma UK|**-**|1,000|
|Bipolar UK|**1,000**|-|
|BLEMSA|**500**|500|
|Black Ballet|**-**|1,000|
|BLISS|**500**|1,000|
|Braintree Youth Project|**500**|-|
|British Dyslexics|**1,000**|1,000|
|Buckingham Emergency Food Appeal|**500**|-|
|British Wireless for the Blind Fund|**-**|223|
|Cancer Campaign in Suffolk|**-**|1,000|
|Carers UK|**-**|1,000|
|Castle Fields Pre-school|**-**|500|
|Catch 22|**-**|1,500|
|Cavell Nurse Trust|**-**|1,000|
|Child Autism UK|**500**|-|
|Children’s Heart Foundation|**1,000**|-|
|Church Army|**2,000**|-|
|Church Homeless Trust|**1,000**|-|
|Cirdan Sailing Trust|**1,000**|500|
|CLAPA|**500**|-|
|Clic Sargent|**2,000**|2,000|
|Coach Core Foundation|**1,000**|-|
|Crimestoppers|**500**|-|
|Deafblind UK|**1,000**|-|
|Disability Advice Service|**1,000**|1,000|
|Douglas Bader Foundation|**1,000**|875|
|East Anglian Air Ambulance|**5,000**|5,000|
|Excelsior Trust|**500**|1,000|
|Fairshare East Anglia|**1,000**|-|
|Family Holiday Association|**-**|500|
|Framlingham Area Youth Action Plan|**1,000**|1,000|
|Fresh Start New Beginnings|**-**|1,000|
|Frontline|**-**|500|
|Frozen Light|**-**|1,000|
|Guide Dogs for the Blind|**1,000**|1,000|
|Haemochromatosis UK|**500**|200|
|Happy Days|**-**|500|
|Headstart 4 Babies|**1,000**|1,000|
|High Tide Theatre|**-**|500|
|Hollesley Parish Council|**-**|1,132|
|Home Start in Suffolk|**-**|1,000|
|Hour Community|**1,000**|1,000|
|Hourglass|**1,000**|-|
|Independence at Home|**1,000**|-|
|Independent Age|**1,000**|-|
|Inspire Suffolk|**1,000**|500|
9
## **THE ANNIE TRANMER CHARITABLE TRUST**
## **Notes forming part of the financial statements for the year ended 5 April 2021** _**(Continued)**_
__________________________________________________________________________________________
|**3**|**Charitable activities****_(Continued)_**|||
|---|---|---|---|
|||**2021**|2020|
||**_c) Grants payable to institutions (continued)_**|**£**|£|
||IPSEA|**1,000**|500|
||Ipswich Community Playbus|**-**|1,000|
||JDRF|**1,000**|-|
||Jubilee Opera|**-**|1,000|
||Kidsout|**500**|-|
||Lapwing|**1,000**|-|
||Lennox Children’s Cancer Fund|**-**|500|
||Lifelites|**500**|-|
||Listening Books|**750**|600|
||Little Acorns|**1,000**|-|
||Little Heart Matters|**-**|500|
||Living Paintings|**500**|500|
||Lucy Air Ambulance for Children|**1,000**|1,000|
||MacMillan Cancer Support|**3,000**|3,000|
||Maggies|**1,000**|-|
||Marie Curie Cancer Care|**3,000**|3,000|
||Missing People|**-**|500|
||Mitchell’s Miracles|**500**|500|
||Morning Star Trust|**500**|1,000|
||Motor Neurone Disease|**1,000**|1,000|
||Olive Academies|**500**|-|
||Music in Hospitals|**-**|500|
||New Life|**-**|500|
||Oasis English Language Scool|**-**|1,000|
||Ormiston Families|**1,000**|1,000|
||PACT|**-**|500|
||Phoebe|**1,000**|1,000|
||Power 2 Inspire|**-**|1,000|
||PSPA|**1,000**|1,000|
||Rainbow Trust|**-**|1,000|
||Royal National Lifeboat Institution|**5,000**|5,000|
||Rural Coffee Caravan|**500**|-|
||St Elizabeth Hospice|**5,000**|-|
||St Nicholas Hospice|**1,000**|1,000|
||Sailors’ Children Society|**500**|-|
||Selig (Suffolk) Trust|**1,000**|-|
||Sense|**-**|850|
||Shine|**-**|500|
||Smallpiece Trust|**1,100**|-|
||Speakers for Schools|**500**|-|
||Southend YMCA|**-**|1,000|
||Special Olympics Suffolk|**-**|500|
||Strong Bones Children’s Charitable Trust|**-**|1,178|
||Student Life|**1,000**|-|
||Sue Ryder|**-**|1,000|
||Suffolk Accident Rescue Service|**1,000**|500|
||Suffolk Art Link|**-**|1,240|
||Suffolk Babies|**-**|500|
||Suffolk Lowland Search & Rescue|**500**|-|
||Suffolk Sight|**500**|-|
||Swan Youth Project|**500**|-|
||Swim England|**-**|400|
||Tall Ships Youth Trust|**-**|1,500|
||The Brain Tumour Charity|**-**|1,000|
10
## **THE ANNIE TRANMER CHARITABLE TRUST Notes forming part of the financial statements for the year ended 5 April 2021** _**(Continued)**_
|**3**|**Charitable activities****_(Continued)_**|||
|---|---|---|---|
|||**2021**|2020|
|||**£**|£|
||**_c) Grants payable to institutions (continued)_**|||
||The Mission to Seafarers|**500**|-|
||The Norfolk Hospice|**500**|-|
||The Offshoot Foundation|**500**|500|
||The Police Community Clubs of GB|**1,000**|500|
||The Salvation Army|**2,000**|2,000|
||Tom’s Trust|**-**|500|
||Total Insight Theatre|**-**|990|
||Unique|**-**|500|
||Volunteering Matters|**1,000**|-|
||Wednesday’s Child|**-**|500|
||With Community|**500**|-|
||Woodbridge Rugby Union Football Club Ltd|**1,000**|-|
|||
**78,684**|
79,788|
|**4**|**Raising funds**|
|
|
|||**2021**|2020|
|||**£**|£|
||Investment management|**21,993**|5,500|
||Regulatory fees|**156**|-|
|||**22,149**|
5,500|
|**5**|**Fixed asset investments**|||
||_a) Schedule of movements_|||
|||**2021**|2020|
|||**£**|£|
||Market value at 6 April 2020|**3,074,938**|3,820,831|
||Additions|**1,233,610**|932,071|
||Proceeds from disposals|**(1,401,437)**|(805,951)|
||Net unrealised (losses)/ gains|**723,559**|(872,013)|
|||**________**|________|
||Market value at 5 April 2021|**3,630,670**|3,074,938|
||_Cash on deposit_|**171,771**|25,637|
|||**________**|________|
||Market value at 5 April 2021|**3,802,441**|3,100,575|
||_b) Historical cost of investments_|||
|||**2021**|2020|
|||**£**|£|
||At 5 April 2021 and at 5 April 2020|**3,323,745**|3,548,798|
## **THE ANNIE TRANMER CHARITABLE TRUST**
**Notes forming part of the financial statements for the year ended 5 April 2021** _**(Continued)**_
## **5 Fixed asset investments** _**(Continued)**_
_c) Classes of investments_
|**d asset investments****_(Continued)_**
_) Classes of investments_|||||
|---|---|---|---|---|
||**2021**||2020||
||**Market value**||Market value||
||**£**|**%**|
£|%|
|Bonds|**509,108**|**13.4**|356,605|11.5|
|Property|**303,485**|**8.0**|-|-|
|Alternatives and Multi-Asset|**406,316**|**10.7**|353,234|11.4|
|Equities|**2,411,761**|**63.4**|2,365,099|76.3|
|||||~~**---**~~|
||**3,630,670**|**95.5**|3,074,938|99.2|
|_Cash on deposit_|**171,771**|**4.5**|25,637|0.8|
||
**3,802,441**|
**100.0**|3,100,575|100.0|
At 5 April 2021 three investments each comprised in excess of 5% of the portfolio: BNY Mellon Fund Managers (6.4%), Royal London Unit Trust Managers (8.0%), Black Rock Fund Managers (7.5%).
At 5 April 2020 six investments each comprised in excess of 5% of the portfolio: Schroder Unit Trusts (6.4%), BNY Mellon Fund Managers (17.7%), M&G Securities (16.6%), Unicorn Asset Management (7.4%), Royal London UT Managers (7.5%), Black Rock Fund Managers (21.9%).
## **6 Debtors**
|Investment income
**7 Creditors**
Amounts falling due within one year
Year-end grants
Accruals|**2021**
**£**
**8,797**
**2021**
**£**
**45,000**
**13,339**
**58,339**
|2020
£
-
2020
£
-
12,735
12,735|
|---|---|---|
## **8. Trustees’ remuneration**
the trustees in the year totalled £32, after a refund of £38 (2020: £177). These expenses were made up of 2 of the 5 trustees (2020: 4 of 5) reimbursed for travel expenses of £70 (2020: £177).
12