Registered charity number 1061534
The C P Charitable Trust
Unaudited Report and Accounts for the year ended 1 October 2021
MDCA Professional Chartered Accountants
4 High Firs Gills Hill Radlett
Hertfordshire WD7 8BH
The C P Charitable Trust Report and accounts Contents
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the accounts | 7 |
The C P Charitable Trust Trustees' Annual Report for the year ended 1 October 2021
Reference and administrative information
Charity Name and Number
The C P Charitable Trust: registered charity number 1061534
Trustees
Mr R C Brewer Mrs P M Brewer Mr S R Brewer Mrs S Brewer Mr C T Brewer Mrs H Brewer
Principal office
The Heights 35 Withdean Road Brighton BN1 5BP
Independent Examiner
J H Marcusfield FCA MDCA Professional Chartered Accountants 4 High Firs Gills Hill Radlett Hertfordshire WD7 8BH
Bankers
Barclays Bank Plc Leicester LE87 2BB
CCLA Investment Management Limited 80 Cheapside London EC2V 6DZ
1
The C P Charitable Trust Trustees' Annual Report for the year ended 1 October 2021
The Trustees present their annual report together with the financial statements of The C P Charitable Trust (the Charity) for the year ended 1 October 2021. The Trustees confirm that the annual report and financial statements of the Charity comply with the current statutory requirements, the requirements of the Charity’s governing document and the provisions of 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 (FRS 102) issued on 16 July 2014.
The C P Charitable Trust, The Heights, 35 Withdean Road, Brighton, BN1 5BP, is registered with the Charity Commissioners (No. 1061534) and constituted by Deed of Trust.
There are six Trustees, Mr. Robert Christopher Brewer and Mrs. Priscilla Margaret Brewer, who were appointed in February 1997 when the charity was set up and Mr. Simon Robert Brewer and Mr. Charles Thomas Brewer, who were appointed on 25th April 2014. On 25th February 2019, Mrs Samantha Brewer and Mrs Helen Brewer were appointed as additional trustees.
The Trust Deed specifies that the Trustees shall not be less than three but there is no restriction on the total number. The power of appointing new Trustees shall be exercised by Robert Christopher Brewer and Priscilla Margaret Brewer during their lifetime and thereafter by the survivor.
The objects of the Charity are:
(1) the benefit of medical research projects generally and worldwide in particular. Projects involving hospitals, children, education, alleviation of sickness, disability, suffering and disease; rehabilitation; healthcare; diagnosis; patient care; community care; screening; regeneration; and the provision of medical equipment, products and facilities generally;
(2) subject to the above clause being the priority and main purpose of the Charity (at least during the initial period of the Charity), generally for such other 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 may think fit.
The Trustees have assessed the major risks to which the Charity is exposed and are satisfied that systems are in place to mitigate the exposure to major risks.
During the year the trustees have paid due regard to the Charity Commission’s guidance on public benefit and have strived to ensure that the Charity’s activities reflect this.
Financial Review
The financial position of the Charity remains very stable. The Charity holds substantial investment funds and deposit balances with the CCLA. The Charity enjoys receiving on-going sources of new income. The Charity has few recurring external obligations and does not run any potential deficit positions.
In the light of this financial position, the Charity does not have a fixed policy on reserves and has no material future obligations other than those included within the accounts.
The principal funding source of the Charity remains the introductions from the founding Trustees, together with recoverable gift aid. All the expenditure in the year under review has been directly in support of the key objectives of the Charity.
The Charity holds material investments. The policy and objectives of those investments are to generate income to support the work of the Charity, together with providing a source of capital withdrawal as and when the objectives require it. At all times the Charity’s Trustees give consideration to the social, environmental and ethical considerations of their work.
2
The C P Charitable Trust Trustees' Annual Report for the year ended 1 October 2021
Plans for Future Periods
It is the policy of the Charity’s Trustees to deploy its investments in a manner that optimises their return for the Charity’s objectives, and to minimise risks of loss of capital and hence revenue. The Charity’s Trustees have continued a programme of re-investment into equities through the CCLA. The Charity will continue to adopt professional management and standards in respect of its portfolio of investments.
Grant Making Policies
These policies are as set out above in the Charity’s objectives.
During the year the Trustees have paid due regard to the Charity Commission guidance on public benefit and believe that the Charity’s grant payments as detailed below have resulted in public benefit.
Achievements and performance:
The following grants were made to Charities during the year
University College London
£70,000 was donated to sponsor four African scholars for their MsC course on Global Health and Development.
The Norwegian Association of the Disabled
£24,000 was donated for their continuing CBR/CBID work in Zambia and Zanzibar plus their ongoing support for CAN.
Revival Centre, Chernihiv, Ukraine
£70,000 was donated to support this remarkable centre caring for disabled children.
International Liberty Association
£30,000 was donated to help their work in supporting refugees across Europe.
Aurora School, Johannesburg
£10,000 was provided to support this rural school.
Disability Africa
£73,000 was donated to support the development of play schemes for disabled children in Gambia, Kenya, Sierra Leone and Zambia.
All Ears International (Cambodia)
£15,926 was donated to support an ongoing project to run ear clinics for deprived people in six districts in Cambodia.
The Lambeth Trust
£2,000 was donated to support the Archbishop of Canterbury’s strategic objectives.
Sisanda
£10,000 was donated to fund their work with children in Cape Town.
Approved by the trustees on 24 October 2022
Signed on their behalf by:
R C Brewer Trustee
3
The C P Charitable Trust Independent Examiner's Report
Report to the trustees of The C P Charitable Trust - charity number 1061534, on the accounts for the year ended 1 October 2021 set out on pages 6 to 12.
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 Trust’s 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 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 which gives me cause to believe that in, any material respect:
-
the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning he 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.
J H Marcusfield FCA MDCA Professional Chartered Accountants
4 High Firs Gills Hill Radlett Hertfordshire WD7 8BH
24 October 2022
4
The C P Charitable Trust Statement of Financial Activities for the year ended 1 October 2021
| Unrestricted Funds Notes £ Incoming resources Income and endowments: Donations and legacies 2 125,000 Investment - bank interest - Total 125,000 Resources expended Expenditure on: Charitable activities 3 306,195 Governance costs 5 590 Total charitable expenditure 306,785 Total 306,785 Net income/(expenditure) before transfers (181,785) Gross transfers between funds - Net income/(expenditure) before (181,785) other recognised gains and losses Other recognized gains/(losses): Gains/losses on investment assets 819,831 Net movement in funds 638,046 Reconciliation of funds: Total funds brought forward 5,287,663 Total funds carried forward 5,925,709 |
Total Funds 2021 £ 125,000 - 125,000 306,195 590 306,785 306,785 (181,785) - (181,785) 819,831 638,046 5,287,663 5,925,709 |
Total Funds 2020 £ 150,000 16 |
|---|---|---|
| 150,016 | ||
| 476,037 590 |
||
| 476,627 | ||
| 476,627 | ||
| (326,611) - |
||
| (326,611) 349,473 |
||
| 22,862 5,264,801 |
||
| 5,287,663 |
5
The C P Charitable Trust Balance Sheet as at 1 October 2021
| Notes Fixed assets Investments 7 Total fixed assets Current assets Cash at bank and in hand 9 Creditors: amounts falling due within one year 10 Net current assets Total net assets Funds Unrestricted funds 11 Total Charity funds |
Unrestricted Funds £ 5,677,897 5,677,897 245,963 (23,151) 247,812 5,925,709 5,925,709 5,925,709 |
Total Funds £ 5,677,897 5,677,897 245,963 (23,151) 247,812 5,925,709 5,925,709 5,925,709 |
Prior period Total Funds £ 5,178,066 |
|---|---|---|---|
| 5,178,066 | |||
| 114,277 (4,680) |
|||
| 109,597 | |||
| 5,287,663 | |||
| 5,287,663 | |||
| 5,287,663 |
Approved by the trustees on 24 October 2022
Signed on their behalf by:
R C Brewer Trustee
6
The C P Charitable Trust Notes to the Accounts for the year ended 1 October 2021
1 Basis of Preparation
Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
And 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 (FRS 102) issued on 16 July 2014.
And with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).
And with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
Going concern
The financial position of the Charity remains very stable. The Charity holds substantial investment funds and deposit balances with the CCLA. The Charity enjoys receiving on-going sources of new income. The Charity has few recurring external obligations and does not run any potential deficit positions. The charity remains a going concern.
Changes of accounting policies
There were no changes of accounting policies. The accounts present a true and fair view and the accounting policies adopted are those outlined in note 2.
Changes to accounting estimates
No changes to accounting estimates have occurred in the reporting period.
Changes to accounting estimates
No changes to accounting estimates have occurred in the reporting period.
2 Accounting policies
Fund accounting
Funds held by the charity are either:
Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Where relevant, further explanation of the nature and purpose of each fund is included in the
Incoming resources
All incoming resources are included in the statement of financial activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
-
When donors specify that donations and grants given to the charity must be used in future
-
accounting periods, the income is deferred until those periods.
-
When donors impose conditions which have to be fulfilled before the charity becomes entitled
-
to use such income, the income is deferred and not included in incoming resources until the pre-conditions for use have been met.
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The C P Charitable Trust Notes to the Accounts for the year ended 1 October 2021
2 Accounting policies (continued)
Incoming resources
When donors specify that donations or grants, including capital grants, are for particular restricted purposes, which do not amount to pre-conditions regarding entitlement, this income is recognised in the SoFA as restricted funds when receivable.
Interest is included when receivable by the charity.
Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes nonrecoverable VAT and is reported as part of the expenditure to which it relates.
-
Charitable expenditure comprises those costs incurred by the charity in the delivery of its
-
activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
-
Governance costs include those costs associated with meeting the constitutional and statutory
-
requirements of the charity including fees for the independent examination of the accounts.
-
All costs are allocated between the expenditure categories of the SoFA on a basis designed to
-
reflect the use of the resource. Costs relating to a particular activity are allocated directly.
-
Grants payable are charged in the year when the offer is made except in those cases
-
where the offer is conditional, such grants being recognised when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
Investments
Fixed asset investments in quoted shares, traded bonds and similar investments are valued at initially at cost and subsequently at fair value (their market value) at the year end.
The same treatment is applied to unlisted investments unless fair value cannot be measured reliably in which case it is measured at cost less impairment.
2 Donations and associated income
| Donations: Donations received and receivable Income tax recoverable 3 Charitable activities Grants and donations payable Other expenditure |
Unrestricted £ 100,000 25,000 125,000 |
2021 Total £ 100,000 25,000 125,000 2021 £ 304,926 1,269 306,195 |
2020 Total £ 100,000 50,000 |
|---|---|---|---|
| 150,000 | |||
| 2020 £ 471,039 4,998 |
|||
| 476,037 |
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The C P Charitable Trust Notes to the Accounts for the year ended 1 October 2021
| 4 Grants and donations payable to institutions The African Graduate Scholar's Scheme at UCL CBR African Network (CAN) with the Norwegian Association for the Disabled International Liberty Association Disability Africa British Humanitarian Aid for the Revival Centre, Chernihiv, Ukraine All Ears International (Cambodia) Aurora School, Johannesburg Sisanda FunDation The Lambeth Trust 5 Resources expended Activity 2021 costs Governance Total Accountancy 1,000 - 1,000 Independent examiner's fees - 590 590 Promotional costs - - - Administrative expenses 269 - 269 1,269 590 1,859 6 Fees for examination of the accounts 2021 £ Independent examiner's fees 590 Accountancy 1,000 1,590 Purpose To sponsor African students studying for their MSc course on Global Health Development at UCL. Continuing CBR/CBID work in Zambia and Zanzibar plus their ongoing support for CAN. Supporting the work and mission of present and former Archbishops of Canterbury. Funding to help their work in supporting refugees across Europe Donations to support the development of play schemes for disabled children in five countries in Africa Ongoing support for the Revival Centre in Ukraine for disabled children. Support for an ongoing project to run ear clinics for deprived people in six districts in Cambodia. Funding to support the school. Support for deprived children in Cape Town, South Africa. |
2021 Committed in the year £ 70,000 24,000 30,000 73,000 70,000 15,926 10,000 10,000 2,000 |
|---|---|
| 304,926 | |
| 2020 Total 1,000 590 3,551 447 |
|
| 5,588 | |
| 2020 £ 590 1,000 |
|
| 1,590 |
9
The C P Charitable Trust Notes to the Accounts for the year ended 1 October 2021
7 Fixed asset investments
Investments are held primarily to provide an investment return for charity.
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Carrying fair value at 2 October | 5,178,066 | 5,228,593 | |
| Disposals at carrying value | (320,000) | (400,000) | |
| Net gain/(loss) on revaluation | 819,831 | 349,473 | |
| Carrying (fair) value at 1 October | 5,677,897 | 5,178,066 | |
| Analysis of investments | 2021 | 2020 | |
| £ | £ | ||
| Fair value at year end | |||
| Investments listed on a recognised stock exchange | |||
| or held in common investment funds, open ended | |||
| investment companies, unit truts or other collective | |||
| investment schemes | 5,677,897 | 5,178,066 | |
| Material investment holdings | |||
| All investments are held in COIF Charities Investment Fund Accumulation Units at | |||
| the market values stated above. | |||
| 8 | Debtors | 2021 | 2020 |
| £ | £ | ||
| Income tax reclaimed on gift aided donations | 25,000 | - | |
| 9 | Cash at bank and in hand | 2021 | 2020 |
| £ | £ | ||
| Short term deposits | 4,053 | 4,052 | |
| Cash at bank and in hand | 241,910 | 110,225 | |
| 245,963 | 114,277 | ||
| **10 ** | Creditors: amounts falling due within one year | 2021 | 2020 |
| £ | £ | ||
| Grant commitments | 20,000 | - | |
| Other creditors and accruals | 3,151 | 4,680 | |
| 23,151 | 4,680 |
10
The C P Charitable Trust Notes to the Accounts for the year ended 1 October 2021
Details of material funds held and their movements during 11 the CURRENT reporting period
| At 2 October 2020 Income Expenditure Gains and losses on investment assets At 1 October 2021 At 2 October 2018 Income Expenditure Gains and losses on investment assets At 1 October 2020 Details of material funds held and their movements during the PREVIOUS reporting period |
General Fund £ 5,287,663 125,000 (306,785) 819,831 5,925,709 General Fund £ 5,264,801 150,016 (476,627) 349,473 5,287,663 |
Total 2021 £ 5,287,663 125,000 (306,785) 819,831 |
|---|---|---|
| 5,925,709 | ||
| Total 2020 £ 5,264,801 150,016 (476,627) 349,473 |
||
| 5,287,663 |
12 Transactions with trustees and related parties
None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related charity.
No trustee expenses have been incurred.
Related party transactions
During the year, the charity received an aggregate of £125,000 (2020 - £150,000) of unconditional donations from related parties.
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