CHARITY OF ROBERT PHILLIPS ANNUAL REPORT AND ACCOUNTS YEAR ENDED 31 MARCH 2021 Charity of Robert Phillips, Civic Centre, High Street, Esher, Surrey, KT10 9SD (Registration no.. 106331210)
CHARtTY OF ROBERT PHILLIPS Contents Legal and Administrative Details Trustees, Report Independent Examiners Report Statement of Financial Activities Statement of Financial Position Notes to the Accounts
CHARITY OF ROBERT PHILLIPS Legal and Administrative Details Charity Registration number- 106331210 The Charity is governed by a Scheme from the Charity Commissioners for England and Wales sealed on 23ryJ April 1991. Charity Trustees for the year ended 31 March 2021 are as follows: _ Trustees appointed by Elmbridge Borough Council.. - Trustees appointed by SUeY County Council: _ Barry Cheyne Christine Cross Melvyn Mills Margaret Hicks (Chaimian) Rachael Lake Tony Samuels The principal address for the Charity is as folk)ws: _ Clerk to the Trustees Charity of Robert Phillips cjo Surrey County Council Wocmjhatch Place 11 Cockshot Hill Reigate Surrey RH2 8EF The address of other relevant organisations are as follows: . Moya Tytherleigh Clerk to the Trustees clo Surrey County Council Woodhatch Place 11 Cockshot Hill Reigate Surrey RH2 8EF Almas Sharif Treasurer to the Charty clo Finance Surrey County Council Woodhatch Place 11 Cockshot Hill Reigate Surrey RH2 8EF Specific restrictions to the operation of the Charity are as follows'.- The Charity is specifically restricted in its operation to the geographic area of the Ancient Parish of Walton-on-Thames and the neighbourhood thereof. The Trustees shall not appty income or property of the Charity directly in the relief of rates, taxes or other public funds but may apply income or property in supplementing relief or assistance provided out of public funds.
CHARITY OF ROBERT PHILLIPS Annual Report of the Board of Trustees of the Charity of Robert Phillips for the Year to 31 March 2021 The Board of Trustees present their report for the year ended 31 March 2021. The members of the Board. together with their appointing body, are listed in the attached note on legal and administrative details. TTUStees are appointed for a term of four years. The Annual Meeting is usually held in June. (However a meeting was not held in June 2020 due to the pandemic). Objects, Organisation and Activities The Charity is established to allocate grants in respect of: . (a) the provision of land and buildings to be Sett upon trust for use for the purpose of a public library or public museum or any similar charitab5e purpose, or the maintenance of any such institutson., andlor Ib) the promotion of education in the appreciation of music, drama and the fine arts. When the Charity became active in 1992 the Trustees agreed that in the early years they would disburse the incorne but not the capital of the Trust and they therefore tend to favour category (b). The Scheme goveming the administration of the Charity speGifie5 that the Trust 15 for Ihe benefit of the inhabitants of Walton-on-Thames and the neighbourhood thereof. For the purposes of clarity. the Trustees normally interpret this as Ihe geographical area of the Ancient Parish of Walton-on-Thames (Walton. Hersham and part of Oatlands), which was in existence during Robert Phillips, lifetime. The Charity is organised as a selection panel that consider grant applications on a quarterly basis. In order to assist wth the determination of appltionS, the Trustees have established some policies, one of which governs the allocation of funding in respect of the purchase of musical instruments and requires that beneficiaries have attained the Royal Schools of Music Grade Vl qualification as confimiation of musical ability and commitment. Such grants are allocated subject to a condition requiring notification in Ihe event of Ihe instrument no longer being required within a period of rive years from the date of the grant in order that other beneficiaries may be offered the opportunity to have an instrument. Each school within the Charity's geographical area is welcome to submtt an application for a scholarship grant per academic year to provide music lessons for its most deserving pupil(s) reSdIng in the Ancient Parish (see later - Music and Arts Educats-on Grant Scheme.
CHARITY OF ROBERT PHILLIPS With regard to appSications for funding in respect of educational courses of more than one year, the Trustees do not want to make ongoing financial commilments and, accordingly, if applicants seek funding for such courses, it will be necessary for separate applications to be made in respect of each year of the course at the appropfiate time. Applications are considered on their individual merits and grants are dependent upon satisfactory referenS and eVKIen that applicants have SucsSfUl progressed to the next stsge of their course. In the event of the Trustees being minded to offer funding to a school or other organisation where onty some of its pupilslmembers reside in the Ancient Parish, proportional funding is allocated to reflect the percentage of eligible pupilslmembers. To ensure that the best use is made of charitable funds, a standard lime limii applies to all grants that, rf unclaimed after one year from allocation. will expire unless special arrangements have been agreed previously with the Trustees. Review of Progress and Achievements ement of P The Trustees of Charity of Robert Phillips have paid due regard to the guidan on public benefit produced by the Charity Commission and are confident that the work of the Trust meets all the criteria for public benefft. Grant There were 7 formal grant applications consKlered by the Trustees over the course of the year. Unfortunately, 5 of the 7 applications received did not meet the criteria of the Charity's scheme. During this financial year, grants totalling £4,904 were allocated to 2 successful applicants. During the year the Trustees vEre not able to attend events due to the coronavirus pandemic. Music and Arts Education Grant Scheme During the financial year, 3 local schools have taken advantage of the Music and Arts Education Grant Scheme, which has enabled several of their talented and deservin9 pupils to receive music lessons. The total expenditure for 2020121 was £2,600. The Annual allocation to each school that qualified under the Music and Arts Education Grant Scheme was revised in March 2021. Therefore, the allocations are as follows: Infant Schools Junior Schools Primary Schools: - Key Stage 1 - Key Stage 2 Secondary Schools.. Heathside School £2.000 per annum Walton Leigh School £2,000 per annum - Three Rivers Academy £3,000 per annum £600 per annum £1,000 per annum £600 per annum £1,000 per annum
CHARITY OF ROBERT PHILLIPS Finances The attached financial statements show the current state of finan, which the Board consider lo be sound. The accounts comply with current statutory requirements and with the requirements of the Charity's goveming document. Investments Blackrock Investment Management (UK) Limrted. 33 King William Street, London, EC4R 9AS continued as fund managers for the Charity with holdings in the BlackRock Charities Growth and Income Fund. This fund aims to deliver long-term capital growth and a sustainable income distributs"on. The capital value of the Trust has changed from £2,031,385 to £2,467,975 over the year. The Independent Examiner Romit Basu of DSK Partners LLP, Chartered Accountants, 75 Park Lane. Croydon, Surrey, CR9 1XS Thanks The Trustees wish to thank the following Offir$ who have assisted them throughout the year 2020121.. Representing the Clerk to the Trustees: Moya Tytherleigh Representing the Charity Treasurer: Almas Sharif - CF Strategic Finance (Corporate), Surrey County Council Mark Hak-sanders - Strategic Finance Business Partner (Corporate). Surrey County Council Their advice and hard work has been much appreciated. Signed -(Chairman)
CHARITY OF ROBF.RT PHILLIPS Independent Examiner's Report to the Trustees of Charity of Robert Phllllps I report to the charity trustees on my examination of the accounts of Charity of Robert Phillips for the year ended 31 March 2021. Responsibilities and basis of report As the charity trustees of the Trust 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 Act and in carrying out my examination I have followed all 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 giving me cause to believe that in any material respect". accounting records were not kept in respect of the Twst are required by section 130 of the Act- or the accounts do not accord with those records" or the accounts do not comply with the applicable requirements concerning the 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 COnrnS 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. Romit Basu FCA DSK Partners LLP 75 Park Lane Croydon Surrey CR9 1XS
CHARITY OF ROBERT PHILLIPS STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021 Total Funds 2020121 Totsl Funds 2019120 Unrestricted Fund Endowment Fund Incom ur IncomiThJ Resources Investment Income 68.505 68,505 56,187 Tolal Incoming Re80urc88 Re Direct Cha¥itsble Expenses". Grants Other Expenditure.. Publrity and Adminislralion 7,504 9,174 1,018 1,018 1,080 Total Resour$ Expended 10254 Net Incoming Resources Before Transfer 59.983 59,983 45.933 Transfer Been Funds Net Incoming Resources for the Year 59.983 59,983 45.933 Other R Unrealised Gain l (Lossl on Investment Assets 436,590 436,590 1163.5801 Net Movement in Funds 59,983 436.590 4*,S73 1117,6471 Balances Brought Forward at 1 April 347.597 2.031,385 2,378,982 2,496,629 8alarKes Carried Forward al 31 March 407 580 2 467 975 2 875 555 2 378 982
CHAIU'fY OF ROBERT PHILLIPS STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2021 2020121 2019120 Investments (Nole2) Current A5sets'. Cash al Bank Debtor CUrn1 Liabilities.. Creditor 2.467,975 2.031,385 392,152 16.076 333,053 15.192 16481 {6481 Net Assets 2.875.555 2 378 982 Endowment Fund (Nole2) unreStrted Fund {Nole2) 2.467,975 407,580 2,031,385 347,597 2.875 55S 2 378.982 Signed....................(Chairperson} Date .
CHARITY OF ROBERT PHILLIPS Notes to the Accounts Year Ended 31 March 2021 Accountin Policies Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. Statement of Recommended Practi applicable to charities preparing their accounts in accordan wrth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. ss The investments are included at market value. The drfferen in value is stated in the accounts as an Unrealld gainlloss on revaluation. Curren The financial statements are prepared in sterling which is also the functional currency of the company and rounded to the nearest pound. Income All income is recognised in the Ststement of Financial Activities On the charity has entitrnent to the funds. it is probable that the income will be received, and the amount can be measured reliably. ndi Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation commrtting the chanty to that expenditure, il is probable that a transfer of economic benefrts will be required in settlements and the amount of the obligation can be measured reliabty. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. ere costs Cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. Trustee's Remuneration and Benefits There were no trustees. remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
CHARITY OF ROBERT PHILLIPS There were no trustees. expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020. 2021 2020 Accrued interest on deposits Inveslment income 1,715 14.361 1.935 13,257 16,076 15,192 Cre 2021 2020 IE Fee 648 648 10. Investments and Reconciliation of Funds All of the clear income andlor the funds of the Charity can be appld under the terms of the trust deed, therefore all of the funds of the Charity are considered to be unrestricted, it has been analysed between Capital and revenue funds to enable a clear understanding of the operation of the Charity. The capital fund is invested by our Fund Managers, BlackRock Investment Management (UK) Limited. For the year, the fund was invested into one Charity Authorised Inveslment FurKJ, the BlackRock Charities Gr0h and Income Fund. A schedule of holdings has been produced by the Fund Managers and is attached at the end of the notes. The revenue fund is currently held as cash and used to fund the grant giving activities of the Trust. At 31 March 2021, £244,515 in this fund is invested in two separate one and three year fixed temi bonds with Nationwide International Limited. The remainder is held by Surrey County Council for administrative purposes and interest is paid to the Trust on the daily balances. 10
CHARITY or ROBERT PHILLIPS ent f Funds Continued 11. 2020121 2019120 uoted Investments Market Value at 1 April Net Unrealised Gainsl(Losses) Market Value at 31 March 2.031,385 436,590 2 467 975 2,194,965 163,580 2 031 385 Original Cost 765,433 765,433 Balance 0110412020 SurplusllDeficitl For Year Balance 3110312021 Surrey County Council Nationwide Intemational Limited Revenue Fund 105,586 242011 57,479 2,504 163,065 244515 407 580 Balar 0110412020 Unrealised Gain Balance 3110312021 Capital Fund 2 031 385 436 590 2 467 975 f Net Assets Bth&n F Investments Net Current Assets Net Current Assets Revenue Fund at 31 March Endowment Fund at 31March 407.580 407,580 2,467,975 2,467,975 Total Funds 2.467,975 407 580 2 875,555
CHARITY OF ROBERT PFIILLIPS 12. rants Paid During 2020121 five grants were paid to individuals, clubs, schools and local organisations lotalling £7.504. Of those. 3 school scholarship grants were pabd, valued at £2,600. b) Material grants that require disclosure are: 2021 2020 Pai Bell Farm Primary School British Plaque Trust Cardinal Newman Catholic Primary School Elmbridge Arts Council Elmbridge U3A Choir Grovelands Primary School Heathside School Hersham PCC - Parochial Church Council Oatlands School Promenade Choirs St Mary's Church Walton on Thames PCC Walton and Weybridge Amateur Operatic Society Walton Oak School (Lumen Learning Trust) Wallon on Thames Trading Alliance cic 1.000 1,000 424 1,000 250 1.000 1,000 1,000 805 600 1.000 4.099 1,000 1.000 7,504 9,174 Future commitments of grants of £86.000 which are committed but not yet paid a not recognised as sundry creditors because whilst they are approved for payment. they may not be taken up. Grants approved in one year may not be paid until the following or subsequent years, to be met from future income. 12