Charlty numb•r: 1064963 The Sir James Roll Charitable Trust Trustees, report and financial statements For the year ended 31 Mar¢h 2022
Thè Slr James Roll Charltable Tnjst Contents Page Reference and administrative dètails of the Trust. its Trustèès and advisers Truste•$' rèport Indpndent audltor$' roport on the financial statemenls Statement of financial activities 7-10 Balance sheet 12 Notes to the financial statements 13-26
Tho Slr James Roll Charitable Trust Rofvrencg and adminlstrative detai15 ¢f the Trust, Its Truste8s and advisers For th• year ended 31 March 2022 Trustees NTGCWharton BWEIVY J M Liddiard Charty r•gl$tered numbor 1064963 Prin¢lpal office Downs Farm Pilgrims Way Wouldham Rochester Kent ME13RB Ind•p•nd•nt auditors Azels Audit Services Statutory Auditors Gk)b8 House Ecllpse Park Sittingbourne Road MastOne Kent ME14 3EN Bankers CAF Bank Limited 25 Kings Hill Avenue Kings Hill Wesl Malling Kent ME194JQ Sollcltors DGB Solicitors LLP The Captain's House Central Avenue Pembroke Chatham Kent ME4 4UF Investment Managers Ralhbone Investment Management Fiennes House 32 Soulhgale Street Winchester S023 9EH A¢¢ountants Kreslon Reeves LLP Chartered Accountants Montague Place Chatham Maritime Kènt ME4 4QU Page 1
Th• Slr James Roll Charltabl• Trust Trustees. report For tho y8ar endgd 31 March 2022 The Trustees present their annu81 report logather with the audited financial ststemenls of the Trust for the year from 1 April 2021 to 31 March 2022. The Trustees have adopted the provisions of the Slatemenl of Recommended Practice ISORPI "Accounting and Reporting by Charities. in preparing the annual report and financial stalemenls of the ChaTIty. The financial ststemenls have been prgpared in a¢cordan¢e with the a¢nting policies set OLrt in notes to the accounts and comply w(fh the Charity's goveming document, the Charities Act 2011 and Accounting and Reporting by Charities.. Slaternenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Retx)rting Siandard applicable in the UK and R8public of Ireland publish8d in October 2019. Obl•¢tlves and a¢tlvltl•s a. Poli¢l•s and obJ•ctlv The object of the Trust is lo provide public benefit by supporting registered charitable organisations by way of grants for the.following purp(Ises'. the promollon of mutual tolerance. commonality and cordiality in majof world religions. the furtherance of access lo computer technology as a leaching medium al primary school levels. the improved access to computer technology in community based projects other than political parties or local government. the funding of projects aimed al early identification of specific leaming disorders. such olher charitable object or obje¢ts in any part of the worfd as the Trustees shall in their absolute discretion Ihink fil to support or estsblish. The Trustees confirm that they have referred lo the guidance contained in the Charily CommissK)n's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities and setting the grant making policy for the year. There have been no changes in the objectwes Since the last annual report. In setting objeclwes and planning for aclivilies, the Trustees have gNen due consideration to general guidancè published by the Charity Commission relatin9 to public benefrt, including the guidance 'Public benefit.. running a charity IPB2I'. b. Grant-maklng pollelés All grants must be In accordance wllh the oblects of the Charftable Trust. Page 2
Tho Slr James Roll Charltablè Trust Tru$l¢gs' rgport Icontlnu&d For the year ended 31 March 2022 A¢hievements and perfomian a. Revlew of a¢tivltl•s The results for the year are set out on page 11. Income from investments in the year amountefl to £230,662 12021.. £198,491) representing a gross return of 4.580/0 12021.. 3.980/.l on the Glosing value of the investments. Grants made in the year amount lo £174,800 12021.. £126,301) representing 75.78 /.12021'. 63.63%) of total income from 811 sources. The cumulative balanGe of £40,225 {2021.. £25,035) is carried forward as an unrestrided funé. The investments held in the restricted endowment fund amounted lo £5,035,714 as at 31 March 2022 12021.. £5,010,050}. as reftecled in note 10 to the financial statements. b. Inv•stment pollcy and performance The investment policy of the Tru51 is the subj'ect of a detailed investment policy $18tement reviewed annually by the Trustees once the draft financial statements are available. The objecllves ol the Trust's investment policy are.. al To provide a reasonable level of income in order to Continue the Trust's capacity lo apply grants to those charities which the Trustees decide qualify under the Deed of Trust. bl To maintain and énhancè the real value of the assets over the long temi by investm&nl in a porrfolio comprised of equities, fixed income stocks and cash. The Trustees are governed by the Trusteg Act 2000. The Trust's objectives (see abovel are lo be achieved by investing prudendy and cautiously in a broad rangg 01 fixed interest securilses and equities, which are quoted on a recogniseé Investment Exchange, anij unbl trusts and open ended investment companies IOEICSI. The investment portfollo mix wlll fall within the following broad ran9es'. UK Equib'es Overseas Equities Fixed Interesl Cash 45-85°/0 0-30° 15-45.10 0-10V4 No initial equity investment should exceed 5Vo of the total value of the funds under management and the total sum ol all equty holdings in excess of 5Vo must not equal or exceed 40Yo of the fund's value al any lime without the Trustees. SpeCC approval. Investments in negotiable instruments known as 'derivalives' are not permitted in any circumstances. Investment Managers Ralhbone Investment Management who are authorised and regulated by the Financial Conduct Authority, are the appointed investment managers. They have conffirmed they will comply with the policy ond arrangements and that they h8ve not departed from them $8ve with Ihe express approv81 of the Trustees. Rathbono Investment Management will provide evidence of Ihe firrn's insurance on request. Page 3
The Slr James Roll Charltable Trust Trustees. report lcontinuedl For the year ended 31 March 2022 Achlevements and perfomiance Ic¢ntlnufrd} Ralhbone Investment M8nagtsmenl will report lo the Trustees al regular intervals to be agreed separately providing a full listing of the inveslmenls with delails of their cost, curront markel value and estimated incorne and statistics detailing the fund's performance. Cash deposits are placed with the approved banks with suitable credit rating5. Cash deposits rnay also be retained by Rathbone Investment Management as part of the investment portfolKJ. Financial rtvitw a. Golng ¢on¢em After making appropriate enquiries, the Trustees have a reasonable expectation Ihal the Trust has adequate resources lo continue in operational existence for the foreseeable future. For this ieason, they continue to adopt the going concern basis in preparing the financial statements. Further detsi15 regarding the adoption of the going concern basis can be found in thè a¢¢ounling policies. b. Ra$¢rv•$ pollcy R•stri¢ttd Fund The capital of the Trust has been classified as a Restricied incomè fund to eomply wrth the objects of the Driginating Trust Deed and the SORP. The Trustees rogord Ihls fund. for inlemal m8nagement purposes, as an 'èndowm8nt" to which mgmorandum references are made in the financial statemenls. Al the Balance sheet dale the Charity holds restricted funds amounting to £5,035,75912021.' £5,010,407). Unrestricted Fund The Trustg8s, having absolute discretion as lo the managernent of the restricted income fund, consider the incom8 and oxpendilure of the Trust as a whole to be m05t fairly repTesenled by an unrestrted general fund for the purpose of fulfilling their obligations under the Trust Deed. The Trustees try ID see that the unrestricted fund incomg after moeting 1ct expenses 15 applied in grants lo registered charities in accordance with the objects of the Trust. At the Balance sheet dale the Charlty holds unrestricted funds amounting lo £40,22512021.. £25,035). leh is in accordance with the reserves policy of holding a minimLsm of approximately one months worth of unrestricted expenditure. amounting lo approximately £15,000 {2021.' £15.0001. Structure, govemance and management Constitution The Trust is consliluted under a Trust deed daled 24 February 1997 and is a gIStered charity number 1064963. b. Methods of appointment or •le¢tlon of Tru$t¢•s The management of the Trust is the responsibility of the Trustees who are elected and co-opted under the terms ol the Trust de. A Solicf(or and Chartered Accountant shall be retained as Trustees on the Board of Trustees lo see that all relevant obligations under the Chariti8s Acts are complied with. Page 4
The Slr James Roll Charltable Trust Tru$t¢es' report Icontlnuedl For the year ended 31 March 2022 Structur¢, gov8rnan¢e and management {contlnued . Organisational structur• and declslon-maklng poll¢le$ The Trustogs meet on aveiage four times a year lo discuss grant applications and matters relating lo the administration of the Trust, which are also discussed on an ad-hoc basis throughout the financial year. d. Risk management The Truslees have assessed the major risks lo which the Trust is exposed and are satisfied that system5 and pro¢edures are in pla¢8 lo mitigate exposure lo the major risks. Plans for future perlods The Trustees will continue lo support the objects of the Charity for the foreseeable future. Statement ol Trust••s' responsibilities The Trustees are responsible for preparing the TnJstees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdorn Generally Accepted A¢¢ounling Practice). Thè law appIable ID charities in England & Wales requires th8 Trustèes to prepare financial statements for e8¢h fina181 which give a true and fair view of the stalè of affairs of the Trust and of ils income and application of resources, including its income and exnditure. for that period. In preparing these financial stèlamènts. the Trustees are required to.. select suitable accounting poliGies and then apply them consistently. observe the methods and prin¢iple$ ol thè Charities SORP IFRS 1021., make judgements and accounting eslimales thal are reasonable and prudent,. slate whether applicable UK Accounting Standards {FRS 102} have been followed, subject to any material departures disclosed and axplaingd in the financial stalemenls., prepare the financial slalemenls on the going concern basis unless it is inappropriate to presume that the TTUSt will continue in business. The Trustges are responsible for keeping adequate accounting records that are sufficient to show and explain the Trusvs Iransa¢lions and disclose with reasonable accuracy at any time the financial position of the Trust and enable thern to ensure that the financial sialements comply with the Charities Act 2011. the Charity {Ac¢ounts and Reports) Regulations 2008 and Ihe provisions of the Trust deed. They are a150 responsible lor safeguarding the assels of the Tiusl and hence for taking reasonab steps for the prevention and detection ol fraud and other iiregularib'gs. Discl¢suro of Snfomiatlon to auditors Each of the persons who are Trustees at the lime when this Trustees, report is approved has confirmed that.. so far as that Trustee 15 aware, there is no relevant audit infomiation of which Ihe Trust's auditors are unaware, and that Trustee has taken all the steps that ought to have be8n taken as a Tnjslee in order to be awa of any relevant audit infomalion and lo establish that the Trusys auditors are aware of that inform8ti0n. Page 5
Th• Slr James Roll Charltabl• Trust Trustees. report Icontinuedl For the year ended 31 March 2022 Audltors The auditors, Azels Audit Services. have indicated their willingngss to continue in office. Tho designalod Tru51ees will propose a molion reappoinling the auditors at a mgekn'n9 of the Trustees. Approved by order of the m8mb8rs of thè Board of Truste&s on on their behalf by.. 18 Ik OLfvboy- ¥¢L and signed NTGCWharton Tr stèè W Elvy Trustee Llddiard Trustee Page 6
Independent Auditorfs Report to the Trustees of The Sir Jame5 Roll Charitable Trust Opinion We have audited the financlal statements of The Sir James Roll Charitable Twst (the 'chariVI for the year ended 31 March 2022 which Comprise Statement of Financial Artivtties, the Balance Sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Financiol Reporting Standard t7pplicoble in the UK and Republ of Irelond {United Kingdom Generally ACpted Accountirbg Prarticel. In our opinion the financial statements.. give a true and fair view of the state of the tharitVs affairs as at 31 March 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended,. have been properly prepared in accordan wtth United Kingdom Generally ACpted Accounting Practice,. and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements settion of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audtt of the financial 5tatement5 in the UK, including the FRC'S Ethical Standard, and we have fulf illed our other ethical responsibilities in accordance with these requirement5. We believe that the audit evidence we have obtained 15 sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going COIKem In auditing the financial statements, we have concluded that thetrustees, use of the goin8 concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to event5 or conditions that, individually or collertively, may cast significant doubt orb the charity's abllityto continue as a going concern for a period of at leasttwelve months from when the financial ststements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respett to going concem are described in the relevant settions of this report. Other informalion The other information comprises the information included in the tru5tees' report, other than the financial statements and our auditorfs report thereon. The trustee5 are responsible for the other information contained within their report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Independent Auditorfs Report (continued) to the Trustees of The Sir James Roll Charitable Trust other Information (continued) Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otheNise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have perfornied, we conclude that there is a material misstatement of thi5 Other information, we are required to report that fact. We have nothing to report in this regard. Matters on whlth we are required to report by exception We have nothing to report in respert of the following matters in relation to which the Charities IAccounts and Reports) Regulations 2008 require us to report to you if, in our opinion.. the information given in thefinancial statements is inconsistent in any material re5pett with the trustees, report,. or the charity has not kept adequate accounting records- or the financial statements are not in agreement with the accounting records and returns,. or we have not received all the information and explanations we require for our audit. Responsibilitles of trustees As explained more fully in the trustees, responsibilities statement, the trustee5 are responsible for the preparation of the financial statements and for being satisfied that they give a true and fairview, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitrfs ability to continue a5 a going concern, disclosin& as applicable, matters related to going concern and using the going conrn basis of accounting unle55 the trustees either intend to liquidate the charity orto cease operations, or have no realistic alternative but to do so. Auditor responsibilities for the audit of the financial Statements We have been appointed as audrtor under section 145 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whetherdue to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of 355urance, but is not a guarantee that an audit condurted in accordance with ISAS IUK} will always detert a material mlSStatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decision5 of users taken on the basis of these financial statements. A further description of our responsibilities is available on the Financial Reporting Council's website at: https'.//www.frc.org.uVauditorsrespon5ibilities. This description forms part of our auditorfs report.
Independent Auditorfs Report Icontinuedl to the Trustees of The Sir James Roll Charitable Trust Extent to which the audit was considered capable of deterting irregularities, indudinE fraud Irregulèritie5, including fraud. are instances of non-compliance with laws and regulations. We design procedure5 in line with our responsibilities, outlined above, to detert material misstatement5 in respett of irregularities, including fraud. We obtain and update our understanding of the entity, its artivities, its control environment. and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whetherdue to fraud orerror, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud. In response to the risk of irregularities and non-compliance with laws and regulations, including fraud. we designed procedures which included- Enquiry of management and those charged with governance around actual and potential litigation and claims as well as artual, suspected and alleged fraud,. Reviewing minutes of meetings of those charged with governance,. Assessing the exient of compliance with the laws and regulations considered to have a direct material effett on the financial statements or the operations of the entity through enquiry and inspection- Reviewing financial ststement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; Performing audit work over the risk of management bias and override of controls. including testing of journal entries and other adjustments for appropriateness, evalijating the business rationale of significant transattions outside the normal course of business and reviewing accounting estimates for indicators of potential bias. Because of the inherent limitationsof an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-cornpliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detetting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. We communicate with those charged with governance regardin8, among other matters, the planned scope and timing of the audit and significant audit findings. including any significant deficiencies in internal control that we identify during our audit.
Independent Auditorfs Report Icontinuedl to the Trustees of The Sir Jame5 Roll Charitable Trust Use of our report This report 15 made solely to the charitvs trustees, as a body, in accordance with Part 4 of the Charrties (Accounts and Reports) Regulations 2008. Our audit work ha5 been undertaken so that we might stste to the charit¢s trustees those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent pemitted by law, we do not accept or assume responsibility to anyone other than the charity and the chariV5 trustees a5 a body, for our audit work, for this report, or for the opinions we have fomied. Michelle Wllkes FCA {SeniorStatutoryAuditorl For and behalf of Azets Audit Services Chartered Accountants Statutory Auditor Globe House Eclipse Park Sittingbourne Road Maidstone Kent ME14 3EN Date- 19 October 2022 10
The Slr James Roll Charltable Trust Statement of finan¢lal a¢tiviti¢$ For the ygar ended 31 March 2022 Re$trS¢t8d Unrestrl¢t¢d funds funds 2022 2022 Total funds 2022 Total funds 2021 Notè Income from: Investments 230,662 230.662 198,491 Total incom• 230,662 230.662 198,491 Expendlture on: Raising funds Charitable activities 20.508 20.508 215,472 18,799 179,941 215,472 Total expendlture 20.508 215,472 235.980 198,740 Net lexpenditur¢}lincome before n•t gains on investments Net gains on investments 120,$08) 45.860 15,190 15,3181 45.860 {2491 1,028.635 10 Net movernent in funds 25.352 15,190 40.542 1,028,386 Reconciliation of fvnd$: Total funds brought forward Nel movement in funds 5.010.407 25.352 25,035 15,190 5,035.442 40.542 4,007,056 1,028,386 Total funds carrl¢d forward 5.035,759 40,225 5,075,984 5,035,442 The Statement of financial activities includes all gains and losses recognised In the year. The notes on pages 13 10 26 form part of these financial statements. P898 11
Th• Slr James Roll Charltabl• Trust Balon¢o $h¢•t As at 31 March 2022 2022 2021 Not• Fixod ass•ts Investments Current assets 10 5.035,714 5,010,050 Debtors Cash al bank and in hand 3,131 70,843 2,076 57,560 73.974 59,636 cdItors.. amounts falling due within one year 12 133.704) 134,2441 Net current as$?t$ 40.270 25,392 Total net assets 5,075,984 5.035.442 Charity fvnds Re51ricled fund5 Unreslricled funds 5,035,759 40,225 5,010,407 25,035 13 Total funds 5,075,984 5,035,442 The financial statements were approv and aulhorised for issue by the Trustees on and signed on their bohalf by.. i{tt LLkpl4 NTGCWharton Tnj BWEIVY Trustée J M Llddlard Tfuslee The notes on pages 13 to 26 form part of these financial statemènts. Page 12
The Slr Jam•s Roll Charltsblè Trust Notes to the financial statements For thè yoar ended 31 March 2022 General information Sir James Roll Charitable Trust is a Charitable Trust and an Unincorporaled Charily in England and Wales. The registered office is Downs Farm, Pilgrims Way, Wouldham, Rochester, Kent, ME1 3RB. The principal activities of the Trust are lo support registered charitable organisations by way of grants. hAore details are provKJed in the Trustees RetK)rt. Ac¢ountlng poll¢lo$ 2.1 Basis of preparation of finan¢lal $tat•monts The financial statements have been prepared in accordance wlh the Charities SORP IFRS 1021- Ac¢ovnling and Reporting by Charities.. Statement of Recommended Practice applicable to chariti85 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Chariti&s Act 2011. The finan¢i81 stslements have be8n prepared to give a 'true and fairf view and have departed from the Charitiès {Accounls and Reports) Regulations 2008 only to the extent required to provide a 'true and fair, view. This departure has involved following the Charitiès SORP IFRS 102) publishèd in October 2019. The Sir James Roll Charitable Trust meets th8 dèfinftion of a public benefit entty under FRS 102. Assets and liabilities are initially recognised al historical ¢osl or transaction value unless othgnwise stated in the relevant accounting policy. The Charity has tskan advantsge of the provisions in the SORP for charities applying FRS 102 Update BUIlIn 1 not to prepare a Statement of Cash Flows. Monetsry values are rounded lo the nearest whole £1. 2.2 Going concem The Trustees assess whether the use of going concem is appropriate i.e. whether there are any malerial uncertainties related lo events or conditions that may cast significant doubl on the ability of the Trust to continue as 8 going concern. The Trustees make this assessment In respect of a period ol at least one year from the dale of aulhorisalion for issue of the financial statements and have ¢on¢luded that the Trust has adequate resources lo continue in operationa1 existence for the foreseeable future and there are no material uncertainties about the Trust's ability lo continue as a going concern. thus they continue lo adopt the 90ing concern ba515 of accounting in preparing the rinancial statements. 2.3 Incom• All income is fecognised once the Trust has enlitlernent to the income, 11 is probable that the income will be received and the amount of income receivable can be measured reliably. Income lax recoverable in relation to investment incom8 is recognised at the time th& investmènt income is receivable. Page 13
Th• Slr Jamas Roll Ch8rltabl• Trust Note$ to the flnan¢lal $tat•m¢nt$ For the year •nd¢d 31 Mar¢h 2022 Accounting polici•s {continu•dl 2.4 Expendlture Expenditure is recognised once there is a leg81 or conslruclive obligation lo transfer economic benefit lo a third party, it is probable that a transfer ol economic benefits will b8 required in settl8m&nt and the amount of the obligation can be measured reliably. Expenditure on raising funds includes all expenditure incurred by the Trust lo raise funds for ils charitablg purposes and includes costs of all fundraising actwilies events and non-charitable trading. Expenditure on charitable activities is incurred on diredy undertaking th8 activiti&s which furthèr Ihe Trust's objecbves, a5 well as any associated support costs. Grants payabl8 are charged in th9 ygar when the offer Is made except in those cases where the offer is cond((ional. such grants being recognis&d as expenditure when the conditions attaching are fulfilled. Grant5 offered subject to conditions which have not been met at the ygar end are noted as a commitment, but not accrued as expenditure. All expenditLJre is inclusive of irrecoverable VAT. 2.5 Interest receivable Interest on funds held on deposit is included when receivable and the amount Gan be measured reliably by the Tiust,. this is normally upon notification of the interest paid or payable by the institution with whom Èhe funds are deposited. 2.6 Investments Fixed asset investments are a form of financial instrument and are initialty re¢ognised at their transaction cost and subsequently measured al lair value al the Balance sheet date. unless the value cannot be measur&d reliably in which case il is me¥sured at cost less impairmenl. Investment gains 8nd 105ses, whether realised or unrealised. are combined and presented as 'GainsllLossesl on inveslmenls, in the Statement of financial aclivilies. 2.7 Debtors Trade and other debtors are rgcognised at the settlement arnount after any trade discount off8r8d. Pfepayments are valued al the amount prepaid nel of any trade discounts due. 2.8 Cash at bank and in hand Cash at bank and in hand includès cash and short-lerm highly liquid investments with a short matunty of three months or less from the dale of aCquis.0n or opening of the deposit or similar account. 2.9 Liabilities and provisions Liabilitigs are recognised when there is an obligation al the Balance sheet dale as a result of a past event, il Is probable that a transfer ol economic b&nefil will be required in settlement, and the amount of the settlemenl can be eslimaled reliably. Liabilities are recognised al the amount that the Trust anticipales it will pay to settle the debt or the amount it has received as advanced payments for the goods or services It must prtsvide. Provisions are measured al the besl estimate of the amounts required to settle the obligation. Where the effect of the lime value of money is material, the provision is based on the present value of those amounts, discounted at the pr&lax discount rale that reflects th8 risks specifiG lo the liability. The unwinding of the discount is recognised in the Statement of financial acliwties as a finance c051. Page 14
The Slr James Roll Charltable Trust Notes to the financial statements For the year ènded 31 March 2022 Accounting poll¢lgs {continu•dl 2.10 Flnan¢lal Instruments The Trust only has financial assets and financial liabilities of a kind that qualrfy as basic financial instruments. Basic financial instrumenls are initially rgcognised al transaction value and subsequently m&8sured al their settlement value. 2.11 Fund accounting Goneral lunds are unrestr18 funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of Ihe Trust and which have not been designat8d for other purposes. RtrStrted funds are funds which are to be use(1 in accordance wth specific restrictions imposed by donors or which have been raised by the Trust for particular purposes. The costs of raising and a.dministering such fijnds are charged against the specrfic fund. The aim and use of each restricted fund is set oul in the notes to the financial statem&nts. Investment income. gains and losses are allocated lo the appropriate fund. 2.12 Critical a¢¢ounting èstlmat•s and arèas of judgmènt Accounting estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed lo be reasonable und¢r th$ ¢ir¢umstan¢es. There are no judgements or koy sources of estimation uncertainty. Investment In¢omo Unrestricted funds 2022 Total funds 2022 Total lunds 2021 Income from listed investments Deposit interest received Commissions received 230.022 12 628 230.022 12 628 197,475 16 1,000 230,662 230,662 198,491 Totsl 2021 198,491 198,491 Page 15
The Sir James Roll Charltable Trust Notas to the financial statèments For tho yèar gnd¢d 31 March 2022 Investment management expenses R•$trl¢t•d funds 2022 Total funds 2022 Total funds 2021 Investment manag@mgnt fees 20,508 20.508 18.799 Total 2021 18,799 18,799 Analysis of expenditure by a¢tivitie$ Grants payab 2022 Support costs 2022 Total lunds 2022 Totsl funds 2021 Charilable activities Inoles 6 and 71 174,800 40.672 215,472 179,941 Total 2021 126.301 53,640 179.941 Page 16
Tho Slr James Roll Charftabl• Trust Notes to the flnancial statements For tho y•ar ended 31 March 2022 Analysis of grants Gr8nt$ lo In$tltution$ 2022 Total funds 2022 Totsl funds 2021 Grants payable 174,800 174,800 126,301 Total 2021 126,301 126,301 During the financial year the Charity has rnade grants lo 154 institutions 12021.. 1301, the details of which are as shown In note 16 to the financial statements. Support ¢osts Unrestrlctgd funds 2022 Total fund$ 2022 Total funds 2021 Auditors. remuneration Managemènt & adminislralion cosls Inole 81 Sundry expenses 3,720 35,782 1,170 3,720 35.782 1,170 3.480 49,339 821 40,672 40,672 53,640 Totsl 2021 53,640 53,640 Page 17
Th• Slr Jam•s Roll Charltable Trust Not•$ to th? financial statements For th• y•#r ended 31 March 2022 Manag•m•nt & admlnistratlon ¢¢$l$ Unrostrb¢t•d fund$ 2022 Totsl funds 2022 Total funds 2021 Consultancy fees Accountancy fees 17.686 18.096 17,686 18,096 30,624 18,715 35,782 35,782 49,339 Totsl 2021 49,339 49,339 Kreslon Reeves LLP ceiVed £628 12021.. £1,000) of eommissFons from Ralhbone Investment Management Limited in respect of a share ol transaction ¢ommlssions arising on the investment changes carried oul dur4ng the year. This was reimbursed lo the Charity. J M Liddiard, an employee of Ralhbone Investment Managemenl Limiled, receives no remuneration or expenses in his capacity as a Trustee. N T G C Wharton has carried out the adminislrab'on of the Charity since estsblishing it on the instructions of the Rev Sir James Roll. He does this through his own consultant solicitors office. At the year end the Trust owed N T G C Wharton a sum lotalling to £17,686, and Kreston Reeves LLP were owed £6,996 {2021. £7,150) Trustees, remuneratlon and expen$os N T G C Wharton has carrled out the administration of the Charity since establishing il on the instructions of the Rev Slr James Roll. He doe5 this through his own consultanl solicitors office. As disclosed in note 8 to the financial slalemenls. he charged a sum of £17.686 for thg services provided during the financial year, all of which was outstanding at the Balance shoet date. The Charity had no employees during the year12021.' Nill. During the year ended 31 March 2022, expenses totalling £335 were reimbursed or paid directly to 1 Truslee12021- £190 10 1 Trustee). Page 18
Th• Slr James Roll Charltsbl8 Trust Note5 to the finan¢ial statements For thg year ended 31 March 2022 10. Fixed asset inv•$tm•nt$ Cash held al Listèd Investment Invèstmènts managers Total Cost or valuatlon At 1 April 2021 Addition5 4,990,217 15B,689 {172,332) 45,860 19,833 5,010,050 1 58.689 {172,3321 45,860 16,5531 Disposals Revaluations Cash movements 16.5531 At 31 March 2022 5,022,434 13.280 5.035.714 Hlstorlcal ¢¢t The historical cost of the Trusvs listed fixed asset investments, al the Balance sheet dale, is £4.489,692 12021. £4,487,727). Investments at m¥rket value ¢omprlse: Listed UK investments of Listed overseas investsnents of Cash held al inveslmant managers £2,860,501 12021.. £2,875,066} £2,161.933 12021.. £2,115,151) £13,280 12021., £19,833) Which are allocated between.. Equities Fixed interest securities Cash held at investment managers £3.929,950 12021.. £3.842,9161 £1,092.484 12021.. £1.147,3011 £13,280 {2021.. £19.8331 Valuation A professional valuation of the investments was conducted by Ralhbon8 Investment Management al the year end dale of 31 March 2022. Page 19
The SSr James Roll Charltablo Tru$t Notes tr* the financial stat8m8nts Forthg year ended 31 Mar¢h 2022 10. Fixtd asset investments Icontinu•dl Material investments {ovor 3Y• of ¢lo$ing mark•t valu•l 2022 Bla¢krock Fund Managers Conlinenlal Euopean Income D Inc Blackrock World Mining PLC Sp Ordinary Shares City of London Inv Trust PLC 25p Qrdinary Shares JP Morgan Gbl Emarg Mkts In¢ 1 p Ordinary Shares L&gg Mason Global Fund WA Gbl Blue Chip Bd Prtrm IGBP} Londonmelric Property PLC 10p Ordinary Shares M&G Securities Charifund Inc Merchan15 Trusl PLC 25p Ordinary ShaTOS Rio Tinlo 1 Op Ordinary Shares 162.077 149.000 187,200 153.525 152,560 179,270 173,768 229,200 221,957 Debtors 2022 2021 Du• within on• y•aT Other debtors 3,131 2.076 3,131 2,076 12. Creditors.. Amount$ falllng du• wllhln one y•ar 2022 2021 Other creditors 33,704 34,244 Page 20
The Slr James Roll Charltable Trust Notes to the financial staternents For the year ended 31 March 2022 13. Statement of funds statemant of funds - currant year B8lan¢e at 31 March 2022 Balance at 1 Apr512021 Gain51 {Lossesl Incom• Expenditure Unrestricted funds General fvnds 25.035 230,662 1215,472} 40,225 Restrictèd funds Restricted funds 5,010,407 120,508} 45,860 5,035.759 Total of funds 5,035,442 230,662 1235,980) 45.860 5,075.984 Detsils of the rèslri¢ted fvnds ar8 detailBd within the reserves policy on pag6 4 of the Truste8$' Report. Statement of funds- prior year Balance al 31 March 2021 Balance at 1 April 2020 Gainsl (Lossesl Income Expenditure Unrestrl¢tèd fund$ Gerieral funds 6,485 198.491 1179,9411 25,035 Restricted funds Reslricled fundy 4,000,571 118,7991 1,028,635 5,010,407 Total of fund$ 4,007,056 198,491 1198,7401 1,028,635 5.035,442 Page 21
Th• Slr Jam•s Roll Charltable Trust N¢te$ to the financial Statemtrnts For th• y¢ar •nded 31 March 2022 14. Analysis of n•t assets b•tWn fvnd$ Analy$ls of not a$s•ts btheon funds- current year Rostrieted Unr•strl¢t¢d funds funds 2022 2022 Total funds 2022 Flxed asset investrnents Current assets Creditors due within one year 5.035.714 5,347 15,3021 5.035,714 73,974 (33.7041 68.627 128.4021 Total 5,035,759 40,225 5.075,984 Analysls of net assets between funds - prior year Resiri¢ted Unreslricled funds funds 2021 2021 Total funds 2021 Fixed asset investments Current assets Creditors due wthin one year 5,010,050 4,309 {3.9521 5.010,050 59,636 134,2441 55.327 130,2921 Total 5,010,407 25,035 5.035,442 15. Related party transartions The Trust's related party transactions are as set out in notes 8 and 9 to tho financial Statements. Page 22
The Slr James Roll Charltable Trust Notes to the financial Statoments For the year ended 31 March 2022 16. Grants pald In year to 31 March 2022 2022 3H Fund Able Kidz Action Medical Research AFASIC APT IAclion on Povetyl ASTI Attend BANA 8DFA Become Charity {formerty Who Cares) BEDE House A550cialion BIBIC Blooming 81ossoms Trust Bowel Cancer UK Brain Tumour Research Brainwave British Blind Sport British Disabled Angling Association Bri115h Dyslexics Bri115h Epilepsy Asso¢ialion British Liver Trust British Wireless for the Blind Fund Bumbake Trust Calibre Audio Library Care for Veterans Carers UK Cavell Nurses. Trust CEREBRA Challenging Behawour Foundation Child Brain Injury Trust Children's Heart Federation Childrens Literacy Charity (was Springboard for Children) Church Homeless Trust Ltd {was Church Housing Trust) CICRA City Escape Climbing Out Cknlhing SolulionslFor Disabled People) Cfv)wns in the Sky Colostomy Association Limrted Cornrnunigrow COMPAID Trust Computer Aid Inlemalional Country Trust Crackerjacks Children's Trust 1,000 800 800 1.000 1,000 1,000 1.OOD 1,000 1,00 1,000 1,000 1,000 1,000 1,000 1,000 1.000 800 1,000 1,000 800 800 1,000 800 1,000 1,000 1,000 1,000 1,000 1,000 BOO 1,000 800 1.000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 Carried fotvlard 42,400 Page 23
The Slr Jamès Roll Charltable Trust Notes to th• financlal stat•m•nt$ For the year ended 31 March 2022 16. Grants pald In year 10 31 March 2022 l¢ontlnu•dl 2022 Brought forward 42,400 CRIMINON UK CRISIS Cruse Bereavement Care CUED Speech Asso¢ialK)n UK Cure Parkinson's Trust Dame Vera Lynn Childrens Charity Deafblind UK DEC Afganistan Crisis Appeal DEC Coronavinjs App881 DEC Ukraine Appeal Demand Designability Different Strokos Disability Challengers Dream Holidays Dream Makers Dreams Come True Charity Elizabèth Foundation Encephalitis Society Epiliepsy Research UK Epiphany Trust Ichrysalisl ERIC Evenl Mobility Family Holiday Association Farms for City Children Limited Fifth Tru51 Fight Against Blindness Fight Bladder Cancer Fine Cell Work Friday People Glass Door Homeless Charity (Was West London Chuhe$ Homeless Con¢eml Go Beyond Iformedy CHICKS) Hackney Quest Handicapped childn$ Action Group Happy Days Hardman Trust Helen Arkell Dyslexia Charity Hol Line Meals Service (London) House ol Mercy Huntingtons Disease Assoc l.T. Schools Africa Inspire Foundation 10,000 1,000 1,000 800 1,000 5,000 5,000 10,000 1.000 800 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1.000 1,000 800 800 800 1,000 1,000 800 800 80LI 1,000 1,000 1,000 1,000 800 1,000 1.000 1.000 1.000 800 1,000 800 1,000 Carried forward 108,200 Page 24
The Slr James Roll Charltabl• Trust Note$ to the finan¢l¥l statements For tho year ended 31 Mar¢h 2022 16. Grants pald in year to 31 March 2022 {¢onllnued) 2022 Brought fotward 108,200 IPSEA International Spinal Research Twsl Jigsaw (South Easll Jubilee Sailing Trust Kent M S Therapy Cenlre Kids Cancer Charity Kids N, Action Koastler Trust LEAP Lennox Childrens Cancer Fund Leukaemia UK Lifelites Link Community Development Living Paintings Trust London Narrow Boat Project Loughborough Junction Action Group Lupus UK (Kent Group) Martha Trust Maytree Medical Engineering Resource Unit Meningitis Now Microloan Foundation Migraine Trust Missing People Limited Morning Star Trust Multiple Sclerosis Trust Multiple System Atrophy Trust Muscular Dystrophy Myaware NARA National Tremor Foundation New Bridge Foundation No Way Trust Limited OCD A¢tion Oesophageal Patients Association Only Connect UK Orchid Cancer Appeal Pancreatic Cancer UK Partnership for Children Prison Advice and Cave Trust Prison Reform Trust 1,000 1,000 1,000 1.000 1.000 1,000 1,000 800 1,000 1,000 800 1,000 1,000 1,000 800 1,000 1,000 7,000 1,000 1,000 1,000 800 800 800 1.000 1,(M)O 1,000 1,000 800 1,000 1,000 800 1,000 1,000 1,000 800 1,000 1,000 1,000 1,000 Carried foNard 147.400 Pagg 25
The Slr James Roll Charitable Trust Notès to thè flnanclal statements For th• year •nd•d 31 March 2022 16. Grants pald In yoar to 31 March 2022 {continued 2022 Brought forward 147.400 prtsoners Edu¢ation Trust Providence Row 1,000 800 1,¢)00 1,000 1,000 1,000 1,000 800 1.000 1,000 1.000 800 1,000 1,000 1.000 1,000 1,000 1,000 1,000 1,000 1,000 800 1,000 1.000 Boo 1.000 800 800 800 REACT Respite Association Roald Dahl's Marvellous Childrgn's Charity Ruddi's Retreat Sailors. Children's sIety Schtsol- Hoffle Support servIs IUKI Sick Children's Trust Smith-magenis Syndrome Foundation UK Speakers For S¢h¢)o15 Spinal Injuries Association Spinal Muscular Atrophy UK Spitamields Crypt Trust Sportability Stoke Mandeville Spinal Research Strongbones Childran's Charllable Trust Sunny Days Childrens Fund Tackle Proslale C3n¢er Target Ovarian Cancer Teens Unrte F1ghting Cancer Thomas Morley Trust Tools for Self Reliance Tools 4 Teens Tower Harnlels Mission Tuberous S¢lero515 Association ITSAI Unlock the National Asso¢ialion of Ex-offenders I was Unlock) Walking With The Wounded Wheelyboat Trust Total 174800 Page 26