Registered charity number 1063783
The Sumners Foundation
Receipts and Payments Accounts
Year ended 31 August 2022
The Sumners Foundation
Contents
Page Legal and administrative information 1 2-4 Trustees' report 5 Independent examiner’s report 6 Receipts and payments account Statement of assets and liabilities
The Sumners Foundation Legal and Administrative Information
Reference and administrative information
Charity name:
Charity registration number:
Correspondence address:
The Sumners Foundation
1063783
7 Shore Fisherman’s Beach Hythe Kent CT21 6FN
Trustees
D C Sumners F C Sumners
Bankers
HSBC Bank Plc 25 Islington High Street London N1 9LJ
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The Sumners Foundation Trustees' Report for the year ended 31 August 2022
The Trustees are pleased to present our report together with the accounts of the charity for the year ended 31 August 2022.
Legal and administrative information set out on page 1 forms part of this report. The accounts comply with current statutory requirements, including the Statement of Recommended Practice: Accounting and Reporting by Charities (issued in March 2005).
History, objectives and activities of the Trust
Originally named The Mountfort Trust, The Sumners Foundation was formed by a declaration of trust on 27th June 1997. The Trust was started with an injection of cash of £30,000 from D C & Mrs F C Sumners and with various amounts since then. Both the initial donation and additional amounts donated since have been under terms which allow the trustees to either retain the amounts as capital or to spend them. No fund raising activity has been carried out by the Trust.
The Trust deed gives the trustees the power to apply the funds in such a manner as they think fit to or for the benefit of any charitable object or purpose.
The trustees identify projects and organisations they wish to support and the Trust has a policy of not making grants to people or organisations who apply speculatively.
Management and governance arrangements
The trust deed provides for no minimum number of trustees and a maximum of four. Currently there are two trustees and were there a requirement for new trustees, these would be identified and appointed by the remaining trustees.
The chair of trustees is responsible for the induction of any new trustee which involves awareness of a trustee's responsibilities, the governing document, administrative procedures, the history and philosophical approach of the charity. A new trustee would receive copies of the previous year's annual report and accounts and a copy of the Charity Commission leaflet 'The Essential Trustee: What You Need to Know'. The existing trustees have all held office since the Trust was founded.
The trustees annually review the risks that the charity faces. To date these have mainly related to cash management and ensuring grants and donations made are put to appropriate charitable use.
Procedures and policy for grant making
A formal Trust review meeting of all trustees is held once a year. At other times the trustees hold informal meetings to make decisions on new grants and to review on-going regular grants and their effectiveness. In general these informal meetings occur approximately once per month.
Wherever possible grants are made to organisations working in the appropriate fields, which themselves hold charitable status and therefore have their own accountability procedures. Grants to other organisations, or to overseas non-profit organisations are made only when the Trust has personal contact and is able to verify the correct accountability for the use of the grant.
The Trust normally makes one-off grants.
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The Sumners Foundation Trustees' Report for the year ended 31 August 2022
Achievements and performance of the Foundation
As well as supporting previous beneficiaries, there were several new ones. These included those related to the situations in Ukraine and Afghanistan, and a foodbank on the Kent coast. We were pleased to support Acts435, an organisation which connects donors with people in need, with 100% of the donation going to the recipient.
Financial review
Donations of £27,000 were made by the Founders into the Trust during the year (no tax refunds were received), and the Trust made charitable donations of £30,372. At 31 August 2022 the trust held cash of £2,322. The trustees are satisfied with the financial position of the Trust at the balance sheet date.
Investment policy
Under the Trust Deed, the trustees have the power to invest in such assets as they see fit. Cash levels held during the year did not justify separate investment.
Reserves policy
The Trust Deed requires the trustees to use the income and capital of the Trust in promoting its objects. The use of the Trust's reserves is therefore wholly at the discretion of the trustees, with no particular level of reserves required to be maintained.
Future plans .
In future we will maintain support for many of our existing beneficiaries, but would like to identify more charities like Acts435, especially as we feel the current economic climate will continue for a while.
Statement of trustees' responsibilities
Charity law requires the trustees to prepare financial statements for each financial year which show a true and fair view of the state of affairs of the charity and of its financial activities that period. In preparing those financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departure disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue on that basis.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. They 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.
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The Sumners Foundation Trustees' Report for the year ended 31 August 2022
Members of the Trustee Board
Members of the Trustee Board, who served during the year and up to the date of this report, are set out on page 1.
Approved by the trustees and signed on their behalf on 2[nd] June 2023.
D C Sumners Trustee
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The Sumners Foundation Independent Examiner’s Report
Independent examiner’s report to the trustees of The Sumners Foundation
I report to the trustees on my examination of the accounts of The Sumners Foundation (the Trust) for the year ended 31 August 2022.
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 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 giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records.
drawn in this report in order to enable a proper understanding of the accounts to be reached.
S Nathwani
31[st] May 2023
For and on behalf of Count and See Limited 219 Macmillan Way London SW17 6AW
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The Sumners Foundation
Receipts and Payments Account for the year ended 31 August 2022
| Receipts Donations received - D C Sumners Gift Aid tax recoveries Interest received Payments Charitable donations: Computers for Kids COVID Toolkits for India DEC India Appeal Hackney Foodbank Tenzin Palmo DEC Ukraine appeal With Ukraine Acts435 Anne Frank Trust Just Giving A Leg To Stand On Macmillan Cancer Theodora Children's Trust Royal Marsden Cancer Charity Nishtha Save the Children Bhopal Medical Appeal Afghanistan Crisis Appeal Tibet Watch Tibet Relief Fund Tibetan Children's Villages Company Three Teenage Cancer Trust Folkestone Rainbow Foodbank The Listening Place Islington Food Bank Tibetan Nuns Project Bank charges Accountancy fees Net income/expenditure for the year |
2022 £ £ 27,000 - - 27,000 - - - - 287 1,000 1,000 2,210 537 200 - 220 5,100 50 4,750 50 - 1,050 1,000 5,000 1,251 3,000 100 3,000 - - 567 30,372 182 - 30,554 (3,554) |
2021 £ £ 5,000 - - 5,000 1,025 390 500 1,329 273 - - - - - 75 50 5,125 - 524 500 500 - 1,000 - 1,093 - - - 50 108 512 13,054 131 - 13,185 (8,185) |
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The Sumners Foundation Statement of Assets and Liabilities as at 31 August 2022
| Assets Bank current account: Balance at 1 September 2021 Net income/expenditure for the year Balance at 31 August 2022 Gift Aid recoverable Liabilities Amount payable to trustees _Accrued expenses:_accountancy fees |
2022 2021 £ £ 5,876 14,061 (3,554) (8,185) 2,322 5,876 8,000 1,250 10,322 7,126 480480 810 540 1,290 1,020 |
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We, the Trustees approve the accounts and acknowledge our responsibility for them, including the appropriateness of the accounting basis adopted, and for providing all the information and explanations necessary for their compilation.
D C Sumners Trustee
2[nd] June 2023
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