CHARITY NUMBER: 1068930
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Report of the Trustees and Financial Statements for the year ended 31 August 2020
Richard Radcliffe Trust
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Richard Radcliffe Trust
Contents of the Financial Statements for the Year Ended 31 August 2020
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|Legal|and Administrative|Information|1|
|Report of the|Trustees|2-3|
|Independent Examiner’s|Report|4|
|Statement|of Financial|Activities|5|
|Balance|Sheet|6|
|Notes to the Financial Statements|7-9|
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Richard Radcliffe Trust Legal and Administrative Information for the Year Ended 31 August 2020
CONSTITUTION
Richard Radcliffe Trust is a registered charity governed by its trust deed. Charity number: 1068930.
TRUSTEES
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As set out in the trust deed, the charity is controlled by a minimum of three trustees. Future trustees are appointed by resolution of the trustees.
The trustees of the charity, who served during the year and since the year end, are two of the executors named in the late Richard Radcliffe’s Will:
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Mr A Bell Miss P J Radcliffe
Appointed as a trustee on 29 September 2010 was:
Dr P Radcliffe
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REGISTERED OFFICE
Castle View 77 Moreton Road Buckingham Buckinghamshire MK18 1JZ
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ACCOUNTANTS
Sigma Partners Gloucester House Church Walk Burgess Hill West Sussex RH15 9AS
BANKERS
CAF Cash Ltd Kings Hill West Malling Kent ME19 4TA
INVESTMENT ADVISORS
Sanlam Private Wealth Pacific House 126 Dyke Road Brighton East Sussex BN1 3TE
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Richard Radcliffe Trust
Report of the Trustees for the Year Ended 31 August 2020
The trustees present their report together with the financial statements of the charity for the year ended 31 August 2020.
Objectives and activities:
The objects of the charity stated in its trust deed are general charitable purposes at the trustees’ discretion.
The trustees’ policy is to support the following charitable activities:
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a) Assisting physically handicapped people.
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b) Giving young people a better start in life though providing funds for technical training.
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c) Supporting hospice care for the terminally ill.
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d) Providing help for people who are severely deaf and/or blind. e) Nature conservancy.
To achieve these objectives, and in view of the funds available, a registered charity was created to administer the funds and to make grants for the objects stated above.
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The trustees have complied with the duty in section 4 of the Charities Act 2006 to have due regard to the guidance published by the Charity Commission and in particular public benefit guidance.
Achievements and Performance:
The trustees monitor the work of the charities to which grants are paid by reading annual and other reports supplied by those charities.
The trustees believe that public benefit has been delivered in the areas of the advancement of education, the advancement of health, the advancement of citizenship and the relief of those in need by reason of youth, ill-health, disability and financial hardship. Public benefit will continue to be achieved by ensuring that grants issued meet the charity’s objectives and are in the public interest.
Financial Review:
The trust has a strong and stable financial position at the balance sheet date, with investments valued reservesat £2,072,449 of overand £2current million.assets of £144,212. There are minimal creditors and unrestricted fund
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It is the trustees’ intention to distribute the whole of the available income year by year and to maintain the reserves level in order to continue to generate income from investments.
Sanlam Private Wealth manage the trust’s investment portfolio. The charity’s investment policy is to invest the funds available to achieve a balance of income generation and capital growth.
The trustees believe the charities assets are adequate to fulfil its obligations and consider that the trust will remain a going concern well into the foreseeable future, for a minimum of twelve months after the reporting date.
The trust has set up a system to identify and pay grants to individual charities. Grants of £44,500 were made during the year.
Grants of between £2,000 and £5,000 were awarded during the year.
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Richard Radcliffe Trust
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Report of the Trustees
for the Year Ended 31 August 2020
Structure, governance and management:
The Trust is constituted as an unincorporated charitable trust registered with the charities Commission in the UK.
Management of the charity is vested in three trustees, two of whom were the executors of the late Richard Radcliffe’s will.
The trustees named on page | have served throughout the year and since the year end. Appointment of trustees is governed by the Trust Deed of the charity whereby the existing trustees have the power to appoint further trustees as required. If any further trustees were appointed, they would be introduced to their new role and given copies of the trust deed and a guide to the policies and procedures adopted by the charity. A number of publications from the Charity Commission would also be provided to ensure that new trustees would be aware of the scope of their responsibilities under the Charities Act.
Reference and administrative details:
The charity is called, and is known only as, Richard Radcliffe Trust and the registered charity number is 1068930.
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The Legal and Administrative Information, including the principal office and names of trustees, is set out on page | and form part of this report. The financial statements comply with current statutory requirements and the FRS102 Statement of Recommended Practice.
Exemptions from disclosure:
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None
Funds held as custodian trustee on behalf of others:
None
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Approval:
This report was approved by the trustees on UN Denes 20 and signed on their behalf.
VA bed Me P Radcliffe (Trustee)
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Richard Radcliffe Trust Independent Examiner’s Report to the Trustees of Richard Radcliffe Trust
We : . report on the financial statements of the charity for the year ended 31 August 2020, which are set out on pages 5 to 9.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
As the charity’s trustees you are responsible for the preparation of the financial statements; you consider that the audit requirement of section 43(2) of the Charities Act 1993 as amended by section 28 of the Charities Act 2006 (the Act) does not apply, and that an independent examination is needed. It is our responsibility to examine the financial statements under section 43(3){a) of the Act as amended by section 28 of the Charities Act 2006 and to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 43(7)(b) of the Act as amended by section 28 of the Charities Act 2006, whether particular matters have come to our attention.
BASIS OF INDEPENDENT EXAMINER’S REPORT
Our examination was carried out in accordance with the General Directions given by the Charity Commissioners and under s145 of the Charities Act 2011. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items of disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently we do not express an audit opinion on the view given by the financial statements.
INDEPENDENT EXAMINER’S STATEMENT
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In connection with our examination, no matter has come to our attention:
which gives us reasonable cause to believe that in any material respect the requirements
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e to keep accounting records in accordance with section 130 of the Charities Act 2011; e for the accounts to match the accounting records;
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¢ to prepare the accounts in accordance with the Charities SORP (FRS 102); and
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- e to prepare financial statements which accord with the accounting records and to comply with the accounting requirements of the Charities Acts 1993, 2006 and 2011
have not been met;
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to which, in our opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Sigma Partners Chartered Certified Accountants and Registered Auditors Gloucester House Church Walk Burgess Hill West Sussex RHIS5 9AS
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Richard Radcliffe Trust
Statement of Financial Activities
for the Year Ended 31 August 2020
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|Total|Total|
|Funds|Funds|
|Notes|2020|2019|
|£|£|
|Incoming Resources|
|Investment|income|5|46,675|62,618|
|Interest receivable|0|0|
|Total Incoming Resources|46,675|62,618|
|Resources Expended|
|Charitable|expenditure|
|Grants|payable|in|furtherance|
|of the|charity's|objectives|6|44,500|90,000|
|Management and|administration|7|46,895|23,492|
|Total|Resources Expended|91,395|113,492|
|Net (Outgoing)/Incoming Resources|
|Before|Reyaluations|and|Investment|
|Asset Disposals|-44,720|-50,874|
|(Losses)/Gains|on|revaluations|and|
|disposals|of investment|assets|9|10,992|26,524|
|Net movement in|funds|for|the|year|-33,728|-|-24,350|
|Total|funds|brought forward|2,248,348|2,272,698|
|Cash|settled|into|Trust|during|the year|0|0|
|Total funds carried forward|a2,214,620|ee2,248,348eae|
|All|
|actvities above relate to unrestricted funds.|
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The statement of financial activities includes all gains and losses recognised in the year. All incoming resources and resources expended derive from continuing activities.
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Richard Radcliffe Trust
Balance Sheet 31 August 2020
| 2020 | 2019 | ||
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| Notes | £ | £ | |
| Fixed Assets | |||
| Investments | 9 | 2,072,449 | 2,087,715 |
| ery 2,072,449 2,087,715 |
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| Current Assets | |||
| Cash at bank | 144,212 | 162,675 | |
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| 144,212 | 162,675 | ||
| Creditors:Amountsfallingduewithinoneyear | 10 | 2,042 | 2,042 |
| Netcurrentassets | 142,170 | 160,633 | |
| Net assets | 2,214,620 | 2,248,348 | |
| Funds | |||
| Unrestricted funds | 2,214,620 | 2,248,348 | |
| 2,214,620 | 2,248,348 |
Approved by the trustees on 24 Temnen, ZILe and signed on its behalf by:
MAL,lok Am pRadetitte (Trustee)
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Richard Radcliffe Charitable Trust
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Notesfor theto Yearthe EndedFinancial 31 AugustStatements 2020
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Public Benefit Entity The Richard Radcliffe Trust is constituted as a charitable trust and registered in the United Kingdom. It is a public benefit entity.
Going Concern
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There are no material uncertainties about the charity's abitity to continue as a going concern.
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- Basis of preparation The financial statements are prepared under the historical cost conveation as modified by the inclusion of investments at market value and in accordance with the Charities Statement of Recommended Practice (FRS 102} and with the Charities Act 1993 (as amended by the Charities Acts 2006 and 2011).
Accounting Pollctes
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Incoming Resources
Investment Income
Income from equity, fixed interest and cash investments is included when receivable by the charity. Interest Receivable interest is included when receivable by the charity. Resources Expended Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered. Fixed Asset Investments Ail Investments are included at Fair Value with gains or losses included in the profit and loss account. Fair value is determined by quoted market prices. Fund Accounting
Funds held by the charity are: Unrestricted general fundsthese are funds which can be used in accordance with the charitable objects at the discretion of the trustees. 4, Legal Status of the Charity The charity is constituted under a trust deed
| Investment Income | ||
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| 2020 | 2019 | |
| £ | £ | |
| Dividends receivablefrom equity investments | ||
| UK Non-UK |
28,225 7,746 |
35,153 = 12,635 |
| Interestreceivable from fixed interest securities | 10,704 | 14,830 |
| 46,675 | 62,618 | |
| Interest receivablefrom cash | 0 | 0 |
| 46,675 | 62,618 |
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Richard Radcliffe Charitable Trust
for the Year Ended 31 August 2020 6. Grants Payable in Furtherance of the Charity's Objectives During the year, the charity made grants to the following charities:
| 2020 «=2019 £ |
2019 £ |
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| Welfare | ||
| The StPeters and StJamesHospice TheConnectionatStMartins YC2Young Carers Youth Club |
2,000 | 3,000 1,000 3,000 |
| Project StreetLife | 2,000 | 3,000 |
| StMungo’s | 1,000 | |
| Martlets Hospice | 3,000 | 3,000 |
| Buckingham Youth Centre | 2,000 | 3,000 |
| WillenHospice | 2,500 | |
| YoungVic | 3,000 | 4,000 |
| Pace (for children with disabilities) | 3,000 | 3,000 |
| Royal CourtTheatre | 4,000 | |
| Medical DetectionDogs | 3,000 | |
| Pepper Children's hospice | 2,000 | |
| Canine Partners | 2,500 | |
| Wheelpower | 2,000 | |
| SouthBucks Hospice (Butterfly House) | 3,000 | 3,000 |
| StBarnabasHouse | 3,000 | 3,000 |
| ChilternsMS Centre | 3,000 | |
| ChaileyHeritage Foundation |
3,000 | 3,000 |
| Demelza (childrens hospice) | 2,000 | |
| NationalTheatre BletchleyPark |
2,500 5,000 |
2,000 3,000 |
| Extratime Guildcare CalibreAudioLibrary Deafblind |
3,000 3,000 1,500 2,500 |
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| Demand (Design&Manufacture forDisability) | 4,000 | |
| TheHospice Biographers | 2,000 | |
| 34,500 | 72,000 | |
| Conservation oftheCountryside TheWoodlandTrust WildlifeTrust |
2,000 4,000 |
2,000 4,000 |
| Buglife | 2,000 | 2,000 |
| Bumblebee ConservationTrust | 2,000 | 2,000 |
| Future Trees | 2,000 | |
| Horatios Garden | 1,000 | |
| Wildwood Trust | 2,000 | |
| WildernessFoundation | 3,000 | |
| 10,000 | 18,000 | |
| 44,500 | 90,000 | |
| Management and Administration | ||
| 2020 | 2019 | |
| £ | £ | |
| Independent examiners fees | 2,040 | 2,040 |
| Investmentmanagement fee | 44,795 | 21,392 |
| BankCharges | 60 | 60 |
| 46,895 | 23,492 |
- Management and Administration
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Richard Radcliffe Charitable Trust
Notes to the Financial Statements for the Year Ended 31 August 2020
- Trustees’ Remuneration
Trustees received no remuneration (2019: £Nil} and were not reimbursed for any of their expenses in the year (2019: £Nil)
- Fixed Asset Investments
| Market | Market | |||||
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| UK | Value as at 1Sep19 £ |
Movement incash balance £ |
Purchases at cost £ |
Disposal proceeds £ |
Gain/ (Loss) £ |
Value as at 31Aug2020 £ |
| Fixed interest | ||||||
| securities Equities Cash |
627,132 915,571 96,697 |
-20,962 | 95,565 648,625 |
284,430 547,466 |
-1,245 8,184 |
437,021 1,024,914 75,735 |
| Non-UK | 1,639,400 | -20,962 | 744,189 | 831,896 | 6,939 | 1,537,670 |
| Fixed interest | ||||||
| securities Equities |
85,732 459,280 |
0 354,585 |
85,078 208,058 |
-654 4,707 |
0 610,514 |
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| 2,184,412 | 20,962 | 1,098,775 | 1,125,033 | 10,992 | 2,148,184 |
All of the above are listed investments.
- Creditors: Amounts Falling Due Within One Year
| Creditors: Amounts Falling DueDue Within One | Year | |
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| 2020 | 2019 | |
| Accruals | £ 2,040 2,040 |
£ 2,040 2,040 |
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