CHARITY Nuf*tBER: 1068930 Ort of th¢ Truste and Financial Statements for the ear ended 31 Au t 2024 for Richard Radcliffe TnLSt
Richard Radcliffe Tiwt Contents of the Financial Statements for the Yeai. Ended 31 Au st 2024 Page Legal and Administtative tnfotmation Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet NotGs to the Financial Statements
RiCh"d Radcliffe Ttust Le al and Administrative IDfoimation for the Year Ended 31 Au t 2024 CONSTITUTION Richard Radcliffe Trust is a registered charity governed by its trust deed. Charity number: 1068930. TRUSTEES As set out in the Iiust deed, the charity is controlled by a minimum of three trustees. Futurc trustees are appoitited by resolution of the trustees. The trustees of the charity, who served during the year and since the year end, are two of the executor8 named in the late Richard Radcliffe's Will.. Mr A Bell Miss P J Radcliffe Appointed as a trustee on 29 September 2010: Dr P RadcEiffe Appointed on 4 May 2023: FrAnces Gennaine Radcliffe REGISTERED OFFICE Castle View 77 Moreton Road Buckingham Buckinghainshire fvIK18 IJZ ACCOUNTANTS Sigma Partners Delmon House 36-38 C:hurch Road Burgess Hill West Sussex RH15 9AE BANKERS CAF Cash Ltd Kings Hill West Malling Kent MEI 9 4JQ INVESTMENT ADVISORS Charles Stanley & Co Ltd 14 Hyde Gardens Eastboume East Sussex BN2 4PR
Richard Radcliffe Trust Re ort of the Trustees for the Year Ended 31 Au st 2024 The tiustees prent their report together with the financial statements of the charity for the year ended 31 August 2024. Objectives And activities: The objects of the charity staled in its tnt deed are general charitable pwposes at the ttees. discretion. The truste&s' policy AS to support the following charitable activities: a) Assisting physically handicapped people. b) Giving young people a better start in life though providing funds for technical training. c) Supportin£ hospice care for the tern)inally ill. d) Providing help for people who are severely deaf an(Vor blind. e) Nature conservancy. To achieve these objectives, and in view of the funds available. a registerd charity was cl'eated to administer the funds and to make for the objects stated above. The trustees have complied with the duty in section 4 of the Charities Act 2006 to have due regard to the guidance piiblished by the Charity Commission and in particular public benefit guidance. Achflevements 2nd Perf0rn12nce: The trustees monitor the work of the charities to which grants are paid by reading annual and other reports supplied by those charities. The trnstees 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 flllancial hardship. Public benefit will continue to be achieved by ensuring that grants issued meet the charity's objectives and are in the public inteiEst. Financlal Revlew: The trust has a sti'ong and stable financial position at the balance sheet date. with investments valued at £2,158,646 and currcnt assets of £88,492. There are minimal creditors and unrtrIcted fund reserves of over £2 million. It is the trustees. intention to distribute the wliole of the available income year by year and to maintain the reserves level in order to conlinue to generate income from inv&stments. During the period. the management of the trust's investment portfolio was transferred into the hands of Charles Stanley & Co Ltd. The charity's investment policy is io invest the funds available to achieve a balance of income generation and capital growth. The trustees believe the charity's assets are adequate to fulfil its obligations and consider that the trust will remain a going conceiij well into the foreseeable future, fol. a minimum of twelve months after the reporting date. The tNst has set up a system to identify and pay grants to individual charities. Grants of £25,000 were made duiing the year. "ants of between £l.000 and £3,000 were awarded during the year.
Richard Radcliffe Trust Re oi't of the Trusteas for the ye Ended 31 Au st 2024 Structure) governance and management: The Trust is constituted as an unincoorated charitable tn]st registcred with the Charity Commission in the Management of the charity is vested in fo. trllst, two of whom were the executors of the late Richard Radcliffe's will. All of the trust¢cs nained on page I, have seTved throughout th¢ year and since the year end. Appointtnenl of trustees is governed by the Trust Deed of the charlty whereby the existing tntstees have the powei. to appoint further trnstees as required. When a further tntee is appoin*d, they are introduced to th¢Èr new j.ole and givcn copies of the trnst deed and a guide to the polici&8 dnd procedurcs adopted by the charity. A number of publications from the Charity Commission are also pi'ovided to ensure that new tllte are aware of the scope of their responsibilities under the ClwitiGs Act. Reference and administrative details: The charity is ¢alled, and is known only as, Richard Radcliffe Tnt and the restered charity number is 1068930. The Legal and AdmInisttive Inf0mtIOll, including the priocipal office and names of tNstees, is set out on page l and form pait of this r¢porl. Thc fJnancia] statements comply wilh curTcnt slaiutory requirements and the FRS 102 Statement of Recommended PractACe. Exempdons from dlsclosure: None. Trustees Responsibilities in relation to the Financial Statements: Law applicable to charities in England and Wales requires the trnstees to prepare financlal statements for each financial year wbich give a true and fair view of the ch'ity'S financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the tnjstees are requlled to: (a) select suitable accounting policies and apply thcm consistentIy; (b) make judgements and estimates tbat are reasonable and PTudent: (¢) state whcihei" applicablc accounting StanddS and statements of recommended practice have been followed, subject to any departures disclosed and ¢xplaia¢d ID the fll)ancial statements. (d) prepare the financial stat¢m¢nts on a going concein basis unless it is inappropriate to presume that the charity will continue in operation. Funds held as custodian trustee on behaIf of others: None, Approval: This report was approved by the ttwtees on 11 1•2r and signed on their behalf. P Radcliffe (Trustee)
Richard Radcliffe Trust Inde endent Examiner's Re ort to the Trustees of Richard Radcliffe Ttust We Yeport on the financial statements of the charity for the year ended 31 August 2024, which are set out on pages 5 to 9. RESPECTIVE RESPOIYSIBILITIES OF TRUSTEES AND EXAMINER 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"). We report in respect of our examination of the Trust's accounts carried out under section 145 of the 201 l Act and in caErying out our examination, we havc followed all the applicable Directions given by the Charity Commission under section 145{5)(b) of the Act. BASIS OF INDEPENDENT EXAMINER'S REPORT Our exatnillation was earried out in accordance with the General Directions given by the Charity Commissioners and under s145 of the Charities Act 201 l. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those recoi'ds. It also includes coi)sideration of any unusual items of disclosures in the accounts, and seektng 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 true and fair view given by the fllW]cial ststements. IIYDEPENDENT EXAMINERJS STATEMENT In connection with our examination. no matter has come to our attentiojj: which gives us re&sonable cause to believe that in any materAal respect the requiitments to keep accounting records ill accordance with section 130 of the Charities Act 2011. for the accounts to match the accounting records. to prepare tbe accounts in accordance with the Charities SORP (FRS 102). and to prepdre fInancial stdiemenls whiLh accord with the accounting records and to comply with the accounting requiiements of the Charities Acts have not been met: to which, in our opinion, attention should be thzwll in order to enable a proper understanding of the financial statements to be reached. Simon P Lea FCCA Sigma Partners Chartered Certified Accountants Delmon House 36-38 Church Road Burgess Hill West Sussex RHI 5 9AE Date:
Richard Radcliffe Trust Statement of Financial Activities includin Income and Ex endtture Account for the Year Ended 31 Au st 2024 Total Funds 2024 Total Funds 2023 Notes Incoming Resources Investment Incom¢ 60,640 57,101 Total Incoming Resources 60,640 57.101 Resources Expended Charitable Expenditure Grants payable in furtherance of the Charitys Objectives Management ftnd Administration 25.000 26,288 56,000 22,978 Total Resources Expended 51.288 78,978 Net (Out£olngVIn¢oming Resources Before Revaluatlons alld Investment Asset Disposals 9,352 -21,877 (Losses)IGains on revaluations and disposals of investment a&gets 172,373 -21,232 Net movement in Funds for the year 181,725 43,109 Tot21 Fund8 brought forw2rd Cash sgltl¢d into Trust dwillg the year 2.063,223 2,106.332 Total Funds cArrfied foiivard 2,244,948 2,063,223 All activities above relate to unrestricted funds. The statement of fmancial activities includes sumnw income and exp¢nditur¢ account and all gains and losses reColSed in the year. All incoming resouTttS and resou8 expended derive from continuing activities.
Richard Radcliffe Trust Balance Sheet 31Au st 2024 2024 2023 Notes Fixed Assets Investments 2,158,646 1,947,668 2,158,646 1,947,668 Current Assets Accrued Income Cash at Bank 4,247 84,245 494 117,191 88,492 117,685 Creditors: Amounts falling due wltbin one year 10 2.190 2,130 Net Current Assets 86.302 115,555 Net Asset$ 2,244.948 2,063,223 Funds Unrestricted funds 2,244.948 2,063,223 2,244,948 2,063,223 All filnds are unreAtricted. Approved by the trustees on and slgned on their behalf by., . P Radcliffe (Trustee)
Richard Radcliffe Charitable Tiust Notes to the Financial Statements for the Year Ended 31 Au st 2024 Pub]Ic Benefit Endty Tlie Richard Radcliffe Tiust is constituted as a cbuitable tn1 8nd rewtd in the United Kingdom. It is a public benefit entity. Golng Coneern The counts have been prepaitd on a going eon¢eTh bls. Thcre arc no material uncertainties alyyjt the charitys ability lo ¢ontinuc as & going concaTJ. Bi¥lJ of Prepiratloll The financi81 stRten)enls are prepaiEd under the hislorieal eost convention as modified by the inclusion of invcstmcnls Al market value and in accordance witb thc ChariliG8 Slatent of Recommendcd PrLiCe {FRS 102) and with the Chariti¢8 Act 2011. The financial sratemefjts are prepared on on 8¢¢ruals b&sÈ8. Accounting Poli¢ieJ IneD1n8 Resoureei lftveitment Intomt Income from equity. fixed intarst ond ¢8sh investments is included when rei%ivdble by the chBrity. Interest R¢¢elvabl¢ Intatst is included when receAvAble by the ch¥rity. Resources Expended Resources eXded are iti¢luded iti the StAt*t of Financial Activities oo on Ix8is, inclusive of 8ny VAT which cannot be recovered. Flxed Asset Investments All Investments a included at Fair Value WAth gains or low irKluded in the profit and lo&s 0unL Fair value is detennined by quoteAI maLkel price4. Fund Accoulltlng Funds held by the charity tr&. Unrestricted general funds- tbese ate fullds which can be used in accordaDce with the charitable objects &i the discrdion of the tswlee& Legal Status of the Chirlty The charity is ¢on8¢itulal und¢r a trusi d¢ed.
Richard Radcliffe Charitable Trust Notes to the Financial Statements for the Year Ended 31 Au st 2024 Inveslment tncome 21124 2023 Dividends receivable equity investh]enls UK Noo-UK Interesi receivable from fixed intettst securities 26,771 8.598 25.150 31,448 11,047 14.470 60519 56,965 tnlerest receivable from 136 60.640 57.101 Grants payable in furthergD¢e of the Chadty•s ObJectlvey During the year, ikne Charity made grants to the following dwiiies: 2024 2023 Welfare YC2 Young CEr5 Youth Club Project Street Lif¢ Maiilels Hospice BuckJ'n8ham Youth Certtre South Bucks Hospi¢¢ (Buiterfly House) Chailey Heritage Foundation National Theatre Bl¢l¢tsley Park Sense Dementia Support RAW Workshop The Pepper Foundation (Children's Hfyspic¢) Deatblind Kiln Theatre Royal Court (The English Sta8e Company) Jigsaw South Easl Willen Hospice Chestnut Tree House 1,000 1,000 3,000 1,0 3,oiJO 2,000 1,000 3,000 2.000 3.000 3,000 3,000 4,000 2,000 3,000 3,000 3,000 3,000 ,000 3,000 3,000 4,000 3,000 3,000 18,1 43,000 Conservadon of the Countryside Wildlife Twsl Buglife Bumblebee Conservalion Trusi Future Trce5 Eatiti Trnst Bmgd81¢ Coll¢¢lions 3.000 2,000 2,000 2.000 2.000 2,000 7.OiX) 13.000 25,000 56,000 Ail grallts wett all made to oibtt charltable tILtiOn4 noncwere made to individu¥ls.
Richard Radcliffe Charitable Trust Notes to the Financial Statements for the Year Ended 31 Au t 2024 Management and AdininistrAtion 2024 2023 Independent Examinai ftts Legal & Prtsfc$8I0n fc Investment inan8gerrKnL fee Bat CbArges 2.190 1287 22,742 69 2,130 20,771 77 26288 22,978 Trustee81 RemunerAtiott Trnsttts received no remuneration {2023'. £Nil) And weff not reimbuMI for thy of theii" expenses in the y¢or. (2023.. £Nil) Flxed Asset Investments Market VNlue Asat I Sep 2023 Market Value Asat 31 Aug 2024 Purthxses DisposAI proceed$ Galnl (Loss) gt coit UK Fixed interest 8e¢urAtie Equities 128,880 1,352.809 723,016 575,968 81,515 1,370,693 9,706 55,410 780.087 613,494 1.481,689 1298,984 1,452208 65,116 1,393,581 Non-UK Fixed interest securitiea Equities 67,563 724.181 71,998 527.917 4.435 102,822 465,979 765,065 1,947.668 1090,728 2.052.123 172.373 2.15A.646 AU of die above are listeAI investments. io. Credltori: Amounts Falllng Due Wlthln One Year 2024 l(b23 Ac¢ruals 2.1 2.130 2,190 2.130 ii. Re]gted P2rty TroD52cdon¥ Tb¢re h&ve been no lated paty transactions during the ye2r{and none in 20231