CHARITY OF ROBERT PHILLIPS ANNUAL REPORT AND FINANCIAL sTATEMErs FOR THEYEAR ENDED 31 MARCH 2025 Charity registration number 1063312
CONTENTS Legal and Administrative Details TnEt*s' Report 2to4 Independent Examiners Report Statement of Financial Activities Statement of Financial Position Notes to the Accounts 8t012
CHARITY OF ROBERT PHILLIPS LEGAL AND ADMINISTRATIVE DETAILS Charity Registration number- 1063312 The Charity is governed by a Scheme from the Charity Commissioners for England and Wales sealed on 23rd April 1991. Charity Trustees for the year ended 31 March 2025 are as follows: . Barry Cheyne Christine Cross Margaret Hicks (Vice-chair) Rachael Lake Melvyn Mills (Chair) Ashley Tilling The principal address for the Charity is as follows: Charity of Robert Phillips clo Surrey County Council Woodhatch Place 11 Cockshot Hill Reigate Surrey RH2 8EF The address of other relevant organisations are as follows.. - Moya Ther1eigh Oliver Sawyers Clerk to the Trustees Treasurer to the Charity clo Surrey County Council clo Finance Woodhatch Pla Surrey County Council 11 Cockshot Hill Woodhatch Place Reigate 11 Cockshot Hill Surrey Reigate RH2 8EF 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 apply 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 TRUSTEES. REPORT The Board of Trustees present their report for the year ended 31 March 2025. The members of the Board, together with their appointing body, are listed in the attached note on legal and administrative details. The Annual Meeting is usually held in June. Objects, Organisation and Activltles The Charity is established to allocate grants in respect of: . (a) the provision of land and buildings to be settled upon trust for use for the purpose of a public library or public museum or any similar charitable purpose, or the Maintenan of any such institution; andlor (b) the promotion of education in the appreciation of music. drama and thefine arts. When the Charity became active in 1992 the Trustees agreed that in the early years they would disburse the income but not the capital of the Trust and they therefore tend to favour category (b). The Scheme governing the administration of the Charity specifies that the Trust is for the benefit of the inhabitants of Walton-on-Thames and the neighbourhood thereof. For the purposes of clarity, the Trustees nomially interpret this as the geographical area of the Ancient Parish of Walton-on- Thames (Walton, Hersham and part of Oatlands), which was in existen during Robert Phillips, lrfetime. The Charity is organised as a selection panel that consider grant applications on a quarterly basis. Each school within the Charity's geographical area is welcome to submit an application for a grant under the Music and Arts Education Scheme (MAES) per academic year. With regard to applications for funding in respect of educational courses of more than one year, the Trustees do notwantto makeongoing financial commitmentsand, accordingly, if applicants seek funding for such courses, it will be neSSary for separate applications to be made in respect of each year of the course at the appropriate time. Applications are considered on their individual merits and grants are dependent upon satisfactory references and evidence that applicants have successfully progressed to the next stage of their course. In the event of the Trustees being minded to offer funding to a school or other organisation where only 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 time limit applies to all grants that, if unclaimed after one year from allocation. will expire unless special arrangements have been agreed previously with the Trustees. Statement of Public Benefrt The Trustees of The Charity of Robert Phillips have paid due regard to the guidance on public benefit produced by the Charity Commission and are confident that the work of the Trust meets all the criteria for public benefit.
CHARITY OF ROBERT PHILLIPS Review of Progress and Achievements Grants There were formal grants paid during the yeartotalling £39,454, as well as £11,000 of grants provided under the Music and Arts Education Grant Scheme. In total £50,454 was paid out in grants. There were 13 fonnal grant applications considered by the Trustees at their meetings during the financial year. Unfortunately, 4 of the 13 applications received did not meet the criteria of the Charity's scheme. Music and Arts Education Grant Scheme During the financial year, eight local schools took advantage of the Music and Arts Education Grant Scheme. The total expenditure for 2024125 was £11,000. The Annual allocation to each school that qualified under the Music and Arts Education Grant Scheme are as follows.. Infant Schools Junior Schools Primary Schools: Key Stage 1 Key Stage 2 Secondary Schools: Heathside School Weybridge £2,000 per annum (until 2026 when it will cease funding) Heathside School Walton on Thames £2,000 per annum (until 2026 when it will Increa to £3,000) - Walton Leigh School £3,000 per annum - Three Rivers Academy £3,000 per annum £600 per annum £1,000 per annum £600 per annum £1,000 per annum Finances The attached financial statements show the current financial position, which the Board consider to be sound. The accounts comply with current statutory requirements and with the requirements of the Charity's governing document. Investments Blackrock Investment Management (UK) Limited, 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 distribution. The capital value of the Trust has changed from £2,974,139 to £2,931,174 over the year. The Independent Examiner Kevin Kearney FCA Kevin Kearney Associates Suite 3, Haland House 66 York Road Weybridge Surrey Iff13 9DY
CHARITY OF ROBERT PHILLIPS Thanks The Trustees wish to thank the following offirS who have assisted them throughout the year 2024125.. Representing the Clerk to the Trustees.. Moya Tytherleigh Representing the Charity Treasurer.. Oliver Sawyers, Finance (Corporate), Surrey County Council Their advice a hard w k have been much appreciated. Mr Mel n Mills on behalf of the Board of Trustees Date: 2g 202
CHARITY OF ROBERT PHILLIPS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHARITY OF ROBERT PHILLIPS Inde endent examinerfs re ort to the trustees of Charit of Robert Philli I report to the charity trustees on my examination of the accounts of the above charity for the year ended 31 March 2025. Res onsibilities and basis of re ort 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, Inde endent examiner's re ort I have completed my examination. I confirm that no matters have cometo my attention in connection with the examination giving 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 the accounts did not accord with the accounting records., or the accounts did 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. Kevi ney FCA Kevin rney Associates Suite 3, Haland House 86 York Road Weybridge Surrey KT13 9DY Date: 2 P
CHARITY OF ROBERT PHILLIPS STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Endowment fund fund Totsl funds 2025 Totsl funds 2024 Notes Income from: Donations Investment income Totsl income 30 96,216 103,960 103 960 103,960 103 960 Expenditure on: Charitable activities Governance and support costs Total expenditure 50,454 4,007 50,454 4,007 46,826 3,182 Other recognised gains and losses: Unrealised gainl(loss) on Net incomel(exFenditure) for the (92,464) (92,464) {92,464) (42,965) 53,229 99,467 49,499 Reconclllatlon of funds Total funds brought fomard Total funds carried forward 10&11 10&11 556,623 606,122 2,417,516 2,325,052 2,974,139 2,931,174 2,874,672 2,974,139
CHARITY OF ROBERT PHILLIPS STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025 2025 2024 Notes Assets Investments 2,325,052 2.417,516 Current assets Debtors Cash at bank 23,199 585,192 79,541 478,223 Current liabilities Creditors (2,269) (1,141) Net assets 2,931,174 2,974,139 Funds of the charity: Endowment fund Unrestricted fund 10 11 2,325,052 606,122 2,417,516 556,623 2,931,174 2,974,139 Approved the Boa of Trustees and signed on its behalf by: Mr Melvyn Date.. 28 ZOZL .
CHARITY OF ROBERT PHILLIPS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year. Basis of preparation The financial statements have been prepared in accordance with the Charities SORP (FRS 102) Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared to give a'true and fairf view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fairf view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The Charity of Robert Phillips meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless othepNise stated in the relevant accounting policy. The financial statements are presented in British Sterling and are rounded to the nearest Pound. Going concern The Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity's ability to continue as a going conrn, thus they continue to adopt the going concern basis of accounting in preparing the financial statements. Income All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure on charitable activities comprises grants paid. Grants are recognised on payment. Expenditure on governan and support costs comprises costs attributable to the charity's compliance with constitutional and statutory requirements, as well as costs incurred by the charty in the delivery of its activities and servi5 for its beneficiaries.
CHARITY OF ROBERT PHILLIPS Investments Fixed asset investments are included at market value at the balan sheet date. Realised gain and losses on investments are calculated as the difference between sales prOedS and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal. Unrealised gains and losses represent the movement in market values during the year and are credited or charge to the Statement of Financial Activities based on the market value at the year end. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-tenn highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Trustee's remuneration, benefits and expenses There was no trustees, remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024, There were trustees, expenses of £216, in respect of travel, for the year ended 31 March 2025 (2024.. nil). Investment income 2025 2024 Income from dividends 86,169 17,791 103,960 80,646 15,570 96,216 Income from interest Charitable activities 202S 2024 Grant funding of activities 50,454 46,826 A breakdown of the grants paid during the year are as follows.. 2025 2024 Ashley COE Primary School Bell Farm Primary School Cardinal Newman Catholic Primary School Cleves School 1,600 1,600 1,600 1,000 5,000 2,600 1.600 13,650 Elmbridge Community Link
CHARITY OF ROBERT PHILLIPS Grovelands Primary School Heathside School, Walton on Thames Heathside School. Weybridge Hersham Music Club Oatlands Infant School Joanne Richards 1,000 16,654 2,000 6,900 1,000 1,000 2,000 2,000 600 2,370 1.000 5,781 Promenade Choirs Riverhouse Bam Arts Centre The Cecil Hepworth Playhouse The Parochial Church of St Peter Treble Clef Choir Walton Film Festival Walton Oak Primary School Whitely Homes Trust 2,550 1,700 5.000 625 1,250 10,000 1,600 600 50.454 46,826 At the balance sheet date there were no grants approved to be paid in future accounting periods. Governance and support costs 2025 2024 Independent examination fee- current year Independent examination fee- prior year Clerk fees 1,200 (140) 2.620 106 1.140 1,825 217 IT expenses Trustee expenses Postage 216 4.007 3,182 10
CHARITY OF ROBERT PHILLIPS Fixed asset investments 2025 2024 Cost or valuation Market value at 1 April 2024 Net unrealised gainsl{losses) Market value at 31 March 2025 2,417,516 (92,464) 2,325,052 2,364,287 53,229 2,417,516 Original cost 765,433 765,433 There were no additions or disposal during the year. Debtors 2025 2024 Due withln one year Accrued income 23,199 79,541 The charity receives quarterly dividends from an investment fund. In the prior year, dividends for three previous quarters were held by the fund while the charity completed the approval of relevant signatories, along with the dividend for the quarter ending March, which is typically received in April after the year-end. These additional funds were received in the current year. As of 31 st March 2025, the outstanding amount represents the March 2025 dividend, which was received in April 2025. Cash at bank 2025 2024 Nationwide accounts 258,338 326,854 585,192 252,892 225,330 478,223 Balance held in Surrey County Council (SCC) SCC administer the banking function the charity. Payments for grants and other costs are made directly from an SCC bank account. Creditors". Amounts falling due within one year 2025 2024 Accrued expenses 2,269 1,141 Accrued expenses represent the costs in relation to the Independent Examiner's Report and clerk fees.
CHARITY OF ROBERT PHILLIPS 10. Summary of funds Unrealised gainl(loss) on Balance at investments 31 March 2025 Balance at 1 April 2024 Income Expenditure Endowment fund 2,417,516 (92.464) 2,325,052 Unrealised gainl{loss) on Balance at investments 31 March 2024 Balance at 1 April 2023 Income Expendlture Endowment fund 2.364,287 53,229 2,417,516 All of the clear income andlor the funds of the Charity can be applied under the temis 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 endowment fund is invested by our Fund Managers, BlackRock Investment Management (UK) Limited. For the year, the fund was invested into one Charity Authorised Investment Fund, the BlackRock Charities Growth and Income Fund. 11. Unrestricted fund Balance at 1 April 2024 Balance at Expenditure 31 March 2025 Income Unrestricted fund 556.623 103,960 (54,461) 6(,122 Balance at 1 April 2023 Balance at Expenditure 31 March 2024 Income Unrestricted fund 510,385 96,246 (50,008) 556,623 The unrestricted fund is held as cash and used to fund the grant giving activities of the Trust. At 31 March 2025, £258,338 of the fund was invested in separate fixed term bonds with Nationwide International Limited. The remainder is held by Surrey County Council for administrative purposes., interest is paid to the Trust on the daily balans. 12