## **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:
- examine the accounts (under Section 145 of the 2011 Act);
- 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
- 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:
- (1) which gives me reasonable cause to believe that in any material respect the requirements:
- (a) to keep accounting records in accordance with section 130 of the 2011 Act; and
- (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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP:
- make judgements and estimates that are reasonable and prudent;
- 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|
|---|---|---|---|
## **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|
|---|---|---|---|