THE PROVEN FAMILY TRUST
Unaudited financial statements for the year ended 5 April 2021
THE PROVEN FAMILY TRUST
TRUSTEES’ REPORT AND ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2021
| Charity Number: | 1050877 |
|---|---|
| Address: | c/o Waugh & Musgrave |
| Solicitors | |
| 50 Main Street | |
| Cockermouth | |
| Cumbria | |
| Bankers: | National Westminster Bank plc |
| 31 Pow Street | |
| Workington | |
| Cumbria | |
| Independent Examiner: | W Moore |
| Saint & Co Chartered Accountants | |
| Unit 7b Lakeland Business Park | |
| Cockermouth | |
| Cumbria | |
| Investment Manager: | Blankstone Sington Limited |
| Walker House | |
| Exchange Flags | |
| Liverpool | |
| L2 3YL | |
| Solicitors: | Waugh & Musgrave |
| 1 Main Street | |
| Cockermouth | |
| Cumbria |
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF
THE PROVEN FAMILY TRUST
YEAR ENDED 5 APRIL 2021
I report on the unaudited accounts of the Charity for the year ended 5 April 2021 which are attached.
This report is made solely to the Charity’s Trustees, as a body in accordance with section 145 of the Charities Act 2011 and regulations made under section 154 of that Act. My work has been undertaken so that I might state to the Charity’s Trustees those matters I am required to state to them in an Independent Examiner’s Report and for no other purpose. To the fullest extent permitted by Law, I do not accept or assume responsibility to anyone other than the Charity and the Charity’s Trustees as a body, for my work or for this report.
Respective responsibilities of trustees and the independent examiner
The Charity’s Trustees are responsible for the preparation of the accounts. The Charity’s Trustees consider that the audit is not required for the year under section 144(2) of the Charities Act 2011 (the 2011 Act) does not apply and that an independent examination is needed.
It is my responsibility to:
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examine the accounts (under Section 145 of the 2011 Act);
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to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act); and
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to state where 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 you as Trustees concerning 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 in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements:
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(a) to keep accounting records in accordance with section 130 of the 2011 Act; and
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(b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 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.
William Moore FCA Saint & Co Chartered Accountants Unit 7b Lakeland Business Park Cockermouth Cumbria CA13 0QT
15 July 2021
THE PROVEN FAMILY TRUST
REPORT FOR THE YEAR ENDED 5 APRIL 2021
The Proven Family Trust is constituted by a Deed of Trust dated 7th October 1995 and is a Registered Charity Number 1050877. Its address is c/o Waugh & Musgrave, Solicitors, 1 Main Street, Cockermouth, Cumbria. The Charity Trustees in the year to 5 April 2021 were: -
Mr Michael Carl Taxman Mr Graham Robert Quigley Mr Colin Jeffrey Worthington Mr Andrew Simon Griffiths Mr Jonathan Adam Dees
The Trustees hold the Trust Funds and its income upon trust to apply only the income thereof to make grants towards such charitable purposes as the Trustees in their absolute discretion shall think fit.
During the year the investment portfolio was regularly reviewed resulting in certain investments being sold and others being purchased in order to achieve a balanced portfolio of investments.
Income from investments received in the year totalled £31,732 (2020: £41,325).
During the year the Trustees authorised charitable donations and grants to be awarded totalling £20,800 (2020: £27,335).
The Trust has a sound capital base which is expected to yield income sufficient to enable the Trustees to continue to support worthwhile charitable projects and organisations.
Responsibilities of the trustees
The 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 and of the incoming resources and application of resources of the charity for that period.
In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP:
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and The Charity (Accounts and Reports) Regulations 2008. The trustees 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.
The attached receipts and payments accounts comply with the current statutory requirements and this report, together with the Accounts were approved by the Trustees.
……………………………………………..
Trustee 15 July 2021
THE PROVEN FAMILY TRUST – CHARITY NUMBER 1050877
YEAR TO 5 APRIL 2021
| RECEIPTS AND PAYMENTS ACCOUNT Receipts Income from Investments Sale of Investments Transfers Donations TOTAL RECEIPTS FOR YEAR Payments DIRECT CHARITABLE EXPENDITURE Donations made OTHER EXPENDITURE Legal Fees Accountancy Fees Investment Management Honorarium Sundry Expenses LEI Fee Purchase of Investments TOTAL PAYMENTS IN YEAR NET RECEIPTS (PAYMENTS) CASH FUNDS AT LAST YEAR END CASH FUNDS AT THIS YEAR END STATEMENT OF ASSETS AND LIABILITIES Cash Funds at this year end Non-Monetary Assets: - Computer Held for Investment Purposes - at cost - (Market value April) |
Income Fund – General 2021 2020 £ £ 31,732 41,325 - - - - - - 31,732 41,325 20,800 27,335 2,400 2,400 2,400 2,400 5,154 4,446 2,000 2,000 142 120 - - 32,896 38,701 - - 32,896 38,701 (1,164) 2,624 7,463 4,839 6,299 7,463 6,299 7,463 525 525 |
Capital Endowment Fund 2021 2020 £ £ - - 163,553 227,305 - - - - 163,553 227,305 - - - - - - - 25 - - - 546 114 114 114 685 160,621 221,456 160,735 222,141 2,818 5,164 8,886 3,722 11,704 8,886 11,704 8,886 724,870 730,985 (694,926)(566,195) |
Totals 2021 2020 £ £ 31,732 41,325 163,553 227,305 - - - - 195,285 268,630 20,800 27,335 2,400 2,400 2,400 2,400 5,154 4,471 2,000 2,000 142 666 114 114 33,010 39,386 160,621 221,456 193,631 260,842 1,654 7,778 16,349 8,561 18,003 16,349 |
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THE PROVEN FAMILY TRUST
BALANCE SHEET as at 5 APRIL 2021
| ASSETS Quoted Investments at Cost Monies held by Broker – re Investment Funds re Income Funds National Westminster Bank – re Income Funds re Capital Funds REPRESENTING Funds held as at 5 April 2020 Net Gain (Loss) on disposal of Investments Income received in 2020/2021 LessDonations made Expenses Donations Received LEI Levy paid |
£ 20,800 12,096 |
£ 11,694 1,470 4,827 10 31,732 32,896 |
£ 724,870 18,001 742,871 747,332 (3,183) 744,149 (1,164) - (114) 742,871 |
|---|---|---|---|