Sir Terence Rattigan Charitable Trust Report and Financial Statements for the year ended 27 November 2023 Charity no: 1072532 DHf2056>41215LJI
Sir Terence Rattigan Charitable Trust Detsiis of (Iwity's Trustees and AdvistY5 2- 3 Trustees. Rew¥t Ststement of F8la] A]VitieS Balance sI¢t 7- A l Notes to the Statemen
Sir Terence Rattigan Charitable Trust Detsils of Charity's & Advlsor8 H V S Wiljiarns J S Mccuin L claYn S Curtis V C Gwdwin S O'CoDnor Prlndpal Address 10 Or4nge Street Haymarket London WC2H 7DQ RegbteAwI Charlty 1072532 Aceountauts Shipley5 LLP 10 Ornnge Street Haynwket London WQH 7DQ Indewdent Examlner T C1ke SRG LLP IOBolt Court inndon EC4A 3DA Couits & Co 440 Strand London Wf2R (QS Alan Br(Mlie Representation 55 Charterhouse Street London ECIM 6HA
Sir Terence Rattigan Charitable Trust The TteeS pr¢seni theAr Ong wxth the financlat Statellts of the charity for year¢nde4J 27 November 2023. The financial statements have Iren ePara1 in accordance with the ac¢ountill8 wli¢ie5 set out on pages 7 a[ 8 aTrJ comply with the charity's busi dee(L the CtWIti Act 2011 and the Sta¢meni of Recommended Prnctice.. Accounting and Reyxling by Clwiti&8 preparing their accounts in accordance with the financial reFill£ stsndard applicable ID Ihe UK atsj Republic of trelatKI (FRS 102). Obiertlves and aettrfths for the puNic benefit The tnLstec8 bave the Wer to apply trust fund aNI income theTh)f to the following chItable bcmlies in equal sharES'. (a) Denville Hall (registernl chlty numkr 1148968) (b) King (jeorge V Fund for and Actstsses (gIStered thatity number 210740). of which H V S Willian)s is a Committee MeMi and J S Mccuin is secteiary and trea5uru. The tn]ste¢s collfjrni that they have referred to the guidance contained in CIwAty CoJumission's general guidance on publiG nerLt. The tnLStee5 CODSi(kr thai thwtions to Denville Ha]1 and the King George V Fund are within this guidance. The tnsstett of Denville HaiL a care ho for actors have defjned thir conttibution for the public benefit to a5 follows The ¢tlty serves elderly memlws of a particuIar profession. olle where fjnancial secLirity is. in many cases. far from being the nomi. Fu11 5UPPOrt is gtven through a genernt subsidy of atl our sideDt5. and particular often substantigj additioual subsidy to those ID grea¢est need,. The tnjstees of the King George V Fund have defined their contiibution for the public benefit to be 'By paying Grants to Actors #JKI Actresses who require financial assista& the Fund thE 1P]ents will able to stay in their own knTrrnes longer and not i¢ome a burden on the Sta., Grant mMkln% poucy The trustres decide ¢JD the tirning of the distribulions to th¢ rlwities Tthich depenth on the allK>unt of the available cath reseryes. The trustee5 however aJE Emjulld by the objectives atx)ve with regarits whom they can make grants to. Addevements perf(brnwice The tsustees rnade a distribution of £IO,(KK) in June 21Y23 to bcrfh of beneficiaries. The distsibutions of £20,() is a decrease of £15,IKM) from l&st year'5 of £35,1KM). Fjnandal review The trust's income from its copyrights tothlled £37.483 (2022: £37.127) for the year. Significant royaltie5 were received from The Deep Blue Sea (£1 lJ62}, The Winslow Boy (£5.(hg2). Nijinsky (£5.OtK)) and After the Dance (£3,204). The totsl exp¢ndiÉure in the year was £36,497 (2022.. £49.087) of which £20.¢JLK) (2022: £35,¢M) was OD ChIlable a(xivities. Roy21tles The trusl is ffliant OD the income from its copyrishts which Lktllds the success of cunEnt productions of the play& Reserves pollcy The policy of the trustees (which is reviewed * least annually) is to flllly distribute all of the income received by the Charity, tsking any year with anotF¢r, so that Do reserve will be forned cArt of income. At the year end the balance of income is calculated and dtstribllied in the following year. Thef0 all income will be distributed in the yearcovered by these accounts, in aceordauce with the wlicy. The p)licy will be subje£t to mailltenance of suffjcient c&sh to settle crediiors as and when they fall du The total free regerves held at 27 Noveznber 2023 are£13.717 (20f2.. £11.821}. The free re$Ve5 are the reserves freely available lo spend on any of the ChIty'S puryK)ses. The freetrscrves ar¢ calculated as tolal net ats less the copyrighis as they are the only item noi fTrAy available to spend. Th¢ trustees decided to reduce the reserves from amount at the helt of the palldemic a couple of years ago.
Sir Terence Rattigan Charitable Trust
TRusfw' REPORT (conthiued)
The recovery of th¢atri¢al following the COV19 pandemic is still slow amd the Trnstees have
assessed that royalty income will remain ai a lower kvel weviously enjoyal for soJJ]e tsme to come. Some
myalty income has been received since the yw end and the Tn]stees are TrlaÉning funds to ensure that there is
sutFJci¢nt avatlabie lo meet day-tsHlay ex[eS in the near aTMI 1[[& future. They will conlinue to monitor
the situation regularly.
Plans for the fulure
The trustees have a litcrsry agent who is wnunis8ioned to expand the kuowleAEe and the production of Sir
Terence Rattigan's play5.
The Sir TeretKe Rattigall awritabie Trusi is constityte41 by a Deed of Thlst dated 17 Septemkr 1998 and is a
registered thwity (no. l(172532). At th¢ tru5tees' tDeetings which thke pIace tivice a year, the thjstees agree on the
grant making. r&8erves and risk m8nagemcllt Erfjliciu and kErfontwice.
Rect0t and appojnlment
Sir Terence Rattigan Charitable Trust to the trustees on my examiJLqtion of accounts of the Sir Tee Rattigan Tnjst for the year ended 27 NoY¢ffjb¢r 21r23. whicb are set out on pages 5 to I l. Respollslbllttks aryl bads ofreport As the clwity trLLStees of tr1 you are r¢sEwible for the pRParati of the accounts in ordanCe with the requirements of the Clwities Act 2011 Act.). I [trt in Trspect of my examination of the Tnt¢¢,5 accounts Lwried t lllld section 145 of the 2011 Act aud in carrying my examtnaÉion I have followed all ts appIlble DIlOn$ given by the Ch&rtty Comn)ission under section 145 (5)(b) of the 2011 Act. I have cornplded my examinatson. I coufirm that matuial have come to my att¢ntion in connection with the examination givin8 nle cAse to believe that in any matfflial 8cL. (l) accounting re¢ords were not ketrt An resiwi of the Trust as wuired by seixion 130 of the ACL or (2) the a¢c<)unts do not accord with those recoTd%' or (3) the accounts do not compty with the applicabk rEquirts concrrring the fonn and content of the ac¢ounts set out in the cTrlties (Accounts and Rewrts) RegulatiOll5 28 other than auy requirement that the accounis give a 'true and fair view.. Ivhich is tt a tDatter considered a5 part of all independent exatniaation. I have no concerns and have come a(¥oss no other matters in conDection with the examination to whith attention should be drawn in this rqrt in oth to enable a prow understanding of the accounts lo be reache(L Independellt EAamlner Name: T Clarke Relevant professional quaj1fK1oll or Ixty. FCCA Address: SR(J LLP. 10 Boli Couffj Lnd0 EC4A 3DA Date: 13luTrli
Sir Terence Rattigan Charitable Trust STATEMEhry OF FINANCIAL ACTIVIT Totsl Totsj Unrestricted Funds 2023 Income Other illcome. royalties 37W3.65 37.126.71 Total Income 37A83.65 37,126.71 Expendlture Costs of raising fut.. Royalties mAn2gemeni costs Copyrights- amorttsatiOD 6.074.55 910. io 910.iKI 9,11162 6,984.55 ClTraritsble eXlture. 42.102.50 Totsl expendlthre 136h97j) (49.087.051 Net wrpluslldefich) for the year nd net movement In (un (1I.9f.34) Totsl fuTrMb brought forwanl 3401 46.501.15 T(btsl funds carrled forward £35.527A6 £34,540.81 The notes OD wages 7 to I I forni part of the accounts.
Sir Terence RattAgall Charitable Trust AS AT 27 NOVFhIBER 20L1 Copyrights io 2110.IMI 22,720.00 C&sh io IS554 26.984.44 Debtors li 121L92 CredA¢ors.' Amounts due wfithfin one year li 050.1) (15.163.63) Net current a&sets 13.717A6 11,820.81 Net assets £3527.40 £34,540.81 Represented by: Unrestrlcted Fund 35A27A6 34.540.8I £35,527A6 £34.540.81 The not¢s i)n pages 7 10 1 I forni part of these acc(mts.
Sir Terence Rattigan Charitable Tn]st l.l General Inforn1h Sir Terence Rattigan Charitable Trusi is all unincwrated th15t governed by a trust decd and regist¢red with the Charity Commisslon in England Under number 1072532. Tr principal address is 10 Orange StreeL Haymarkei, London, WC2H 71x2. The objectives of the charity are sd oui on page 2. Tr rJnan¢ial statements have been pyepred llThJer the hISrical cost conventii>tL with Aten recognised at COSt or In83CtIon value llnIe otherwise Swed in the relevant accounting policy. The fjnancial s(arements ha len Prep in accordance with the FJnaDciaI Re[M)rti8 Sland5 applicable in the UK and Republic of Irelatkd (FRS 102). Accounting and Reporting by Chajyties: Statement of Re£ommended Practi applicable to Cl]arities pparing 1r accounts in accorda with the FIDancial Reporting Standard appli¢able ID the UK and Republic of Irela] (FRS 102} (effective January 2019) - (Charities SORP FRS 102) the Cbarities Act 2011. The Charity meets the definition of a wb]ic iuefit entity llder FRS i(ll. The functional currency of the ch&tity 15 considered to be steTling because that is the CneY of the priJllary ellvironment Ill which the Ckthriry The financiaI statements are also preted in slerliug. Ther¢ are no si8nificallt aaS r4uiring nllterA judgemell estimates or aUM[lOn$. IJ flow statement The charity has taken advantage of the exemption ID the LThatiti&s SORP (FRS 102) from the requirem¢nt to produce a cash flow ststemeni on the gTounds that it is a s]1 clwity. 1.4 Preparailon of the y¢counts OD a golng coDttrn basts The trustees consider that there are no material uncertaiDties abt the clwity's ability to continue as a going con(Yrn for at least vwelve monttjs from the date of appmving accounts thie to the eontinlling worldwide interest in produ¢in8 Terence R&tigan plays. IS Fund accoun¢lng Unre#ricted funds are available for disttibution by the ttusteu in equal amounts to the two designated charitable bodie5 in with the rEseFve5 policy 8hov/D in ts Trustea8' Report. 1.6 IllLw recognltion All income is recognised once the charity has entillemeDt to the income. it is probabl¢ that the in¢o]ne will be ceIVed and the amount of IOe receivable Can be nasu ffliably. Royalties are recognid as income the ¢h*oty has be notified Ihat these a rec¢ivable.
Sir Terence Rattigan Charitable Trust NufLs TO THE FINANCIAL STATEMENfs (LY)ntinued) FOR TIIE YEARENDED 27 NOVEMBER 2023 1.7 Expendlture reeo8nition Liabiltties are 0]sed &s eXnd1tte as soon as ttre is a legal OT Constructive obligation committing the charity to expendltll, il is probable that settlement WAII be rwuired and the amount of the c4)ligation be reliably. All expeDditure is aceouDted on an &cnwls basis. Costs of rnising fimits coLsists of the commissions of 0d the S48¢ts a1 atnortisatiOD. Expenditu of chatitable tiVIti grdnts made aj governawe costs. Grants payabl¢ a paymenL8 nwle to third parties in the funherance of the GhaTitsble objectives of the Charity. All t offer8 are unconditioDal aj are 8ccnkd once the recipient hag been notified of thB grani awaTd. The notificatiuTh gives the Rcipient a Trasoll#bk expecthtion that tw will receive the g[t Governance costs cornpwe all ccts involving the public accountability of the chlty and its cornpliallce with regulltion 2nd go practice. These costs include costs related to the independent examination of the accounts and legal fe. Governau¢e costs are all*d ¢0 applicable cxpeDditsue headtn8s based oa the time 5FKllt by ttustee8. IVerAble VAT is charged agaiJL8t tk exEwJiture luding for which it wLg incwred. Copyrights are 8tKJwn at their llwket value when they vKre IKqueknJ to the charity forry six years ago les8 amorti5atiOD over their remaining life of thirty three years commencing from the ye4s eftded 27 November 2015 to the year ended 27 Novemiw 2(K7. IS Cash at bank Cash at bank and cash in hand includes cash and shLYt tern) highly Jiquid investhients with a short maturity of three nM)nths or kn from the date of acquisitioa OT openittg of the deposit similar account. 1.10 CredltOTS and prov191oL8 Creditors and provisiojis are OgnIsed where the charity has a present obligation 5lting from a past event that will probably result in the transfer of funds to a third paty and the amount due to seirle the obligation can be MeaSud or esiimatsd reliably. Creditys and provisions are nornially recognised at their settlement amount after allowins for ally trade discounts due. The ChILY onty ha8 financial assers and financial liabilities of a knDd that qualify as basic fInancAal instruments, Basic financial inslnllne initiaity cOgnISed a¢ tsallsadion Yalue and subsequendy urvd at their sertl¢meuE value.
Sir Terence Rattigan Charitable Trust NOTLS TO THE FINANCL4L ATEmENT3 IcolltRnued) FOR THE YEAR ENDED 27 NOVEMBER 2011 20 2022 Royalties 37A83.65 37,126.71 37A83.65 37,126.71 Alhn Bmdie Rcpresentation cornmissioo SUagen{s couunission Website costs 4.746J7 143125 24. 4.272.98 1.801.57 £820162 £6.074.55 4. Grants Denville Hail King George V Fund for Act0 and Actresses i0,(N. 10,000.00 17,5(M). 17,51K).(MI £20,IXW.(K) £15.(.00 5. AnYth of governllntr A¢c(puntancy f¢¢s- Shipleys LLP CS manageDnI Independent examxnpls fees Overneas tax Bank charges sdry expenses 4.5(M).(Kl 5(J).00 1,620.IJ) 750.00 1,800. 39J8 (8&(W) 42.50 £7J84J8 £7.102.50 Total grants and goTernaDce ca £27J84.38 £42.102.50 Govern8nce costs are allocawl io &rtivitse5 based on time spent by truste¢s (x) activity. Tnre,S tirne is considered to be almost exclusively St on clwitable activities. The charity has no staff and hence no paym¢Dts in excess of £fAI.O(M) nor nsiOn crmtributioDS have been made. No trnstee received any remuneration during the year or the reimbursement of expenses. The accountancy fees payable to Shipleys LtP. Chartered Acmuntallts are for staff time ia the management and administration of the ¢harity of £4,875 {2022: £4.5(1. The fees charged are only for the time 5Trt Oll the charlS affairs. The amount owing at the yegx end io Shipleys LLP is nil12022: t]ill. J S Mccuin is a consultallt to Shipleys LLP but he does not Cha any fees for the time he spends on the chartiy's affairs. There WthE fees wdyabl¢ to CS Management Support Ltd durAng the year of £750 (2022.. £51X)). The fees when charged are only for the time 5pBnt on the ¢haritS affairn. The amount owing at the year end CS Managemeni Support is £1,250 (2022: £5001. L Clayts)n (fOrnr]Y PEnhaligan) is o di(( of CS Managw¢DI ST]PPOrt Ltd whose Servic are charged only for the time spent on the charity's affairn.
Sir Terence Rattigan Charitable Trnst NOTES TO THE FINANCIAL STATEMENIS (fontinued) FOR THE YEAR ENDED 27 NOVEMBER 2013 1999 1SMK).iK) 40,0th00 I4,1)[.(mI 60.0.00 60.000.00 69,0(.00 37,OOOJM) 93.{. 84,.[} 161.000.00 270.(W.00 0.00 90,0.00 4fj000.oo 60,0.00 220,000.IM) 158,(X)O.00 60,(KW. 20,000. 2002 2(K)3 25 2(109 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 21Y20 30,0(K). 35,IMKI.I)O 20W. 2022 2023 (note 4) £0.00 2023 7. Copyrights Hist1¢ C05t £30.(MbD.00 £30.000. knoTtisatlon Balance brought fonvard Charge for the year 7280.IN 910.00 6,370.IK) 910. Balance ¢attied fc*waTd 190.( £7,280.00 Net book v8lu¢ £2110.10 £22,720.00 The ¢opyrigbts last for 70 years from the end of the calendar yeaT in which Sir Terence Rattig8m died. He died on 30 November 1977 so the copyrights expire on 31 Dember 2(M7. The historic cost above is the value of the copyrights when bequeathed by Sir Terence Rattigan to the trustees 45 years ago. The copyrights ue being amortised over the remaining 24 years. Amalysls ofeash Coutts & Co account £1555.54 £26,984.44 -jo-
Sir Terence Rattigan Charitable Trust NOTLS TO THE FINAliCIAL sfATEMENTS (colltiuued) FOR THE YEAR ENDED 27 NOVEMBER 2023 2022 9. Analyth ofdebton COU & Co- Vernal of bank ch VAT 12O.IN) 1091.92 £IAII.92 10. ADgIy81s ofllabllloes: Aonts falTln8 dne wlthkn one year CS Managemeut SRG ILP Iwo.00 3,420.LK 10.000.00 120.00 1.123.63 GTaut conunitmenLq Bonk charges VAT £3.050.IKI £15.163.63 Grdnt ClHnnlltD*nts recognised at the st&rt of the year New grant TrlIMents caa4cd the SOFA ill year (see note 4) Grants paid durin8 the year 10,000.00 20,0W. (30.(IXI.(KI) Amount of grdni commitr£nts rttognised Zl Nov¢n)beJ 2