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 F￿8￿la] 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 claY￿n 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 C1￿ke 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 T￿￿teeS pr¢seni theAr ￿Ong wxth the financlat Statell￿ts 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 reF￿ill£ 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 ch￿Itable bcmlies in equal sharES'. (a) Denville Hall (registernl ch￿lty 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 ¢t￿lty serves elderly memlws of a particuIar profession. olle where fjnancial secLirity is. in many cases. far from being the nomi. Fu￿1￿1 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 Ch￿Ilable a(xivities. Roy21tles The trusl is ffliant OD the income from its copyrishts which Lkt*llds 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. The￿f0￿ 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$￿Ve5 are the reserves freely available lo spend on any of the Ch￿Ity'S puryK)ses. The freetrscrves ar¢ calculated as tolal net a￿ts less the copyrighis as they are the only item noi fTrAy available to spend. Th¢ trustees decided to reduce the reserves from amount at the hel￿t of the palldemic a couple of years ago. Sir Terence Rattigan Charitable Trust TRusfw' REPORT (conthiued) The recovery of th¢atri¢al following the COV￿19 pandemic is still slow amd the Trnstees have assessed that royalty income will remain ai a lower kvel weviously enjoyal for soJJ]e tsme to come. Some myalty income has been received since the yw end and the Tn]stees are TrlaÉning funds to ensure that there is sutFJci¢nt avatlabie lo meet day-tsHlay ex[￿￿eS in the near aTMI ￿￿1￿[[& future. They will conlinue to monitor the situation regularly. Plans for the fulure The trustees have a litcrsry agent who is wnunis8ioned to expand the kuowleAEe and the production of Sir Terence Rattigan's play5. The Sir TeretKe Rattigall awritabie Trusi is constityte41 by a Deed of Thlst dated 17 Septemkr 1998 and is a registered thwity (no. l(172532). At th¢ tru5tees' tDeetings which thke pIace tivice a year, the thjstees agree on the grant making. r&8erves and risk m8nagemcllt Erfjliciu and kErfontwice. Rec￿￿t￿￿0t and appojnlment unting Standths (Uuited Kingdotn Generally Ac¢ep*d Accounting Prnctice). The law applicable to charities in Englomd and Wales requiru the io PTepare financial statrments for eath financial year which Eive a true fair view of the stht of kff2irs of the Charity and of incomin8 resource5 aDd applicatiLX] of resources of ch￿lty for that petio& In p￿paring these fillanciai statements. the select suitable accwuting p)licies al￿ then apply them ¢OtiSiStrntly: (A)serve the methL¥J$ and winciples in the Charities SORP. make judgemenis and estimates thai are reasonable and pnKlen¢ state wlKther applicable accOU￿]llg Sralld￿ have been followed. subject to any rna￿181 departures di￿10S￿l aTrJ explained in the financial statejnents: and prepare the ftn2ncial statrments ￿ the going con(trn basis unless it is inappmpriale to pteswn¢ that the charity will continue in IM]Sin￿£. The trustees are responsible for ke¢ping a¢wunting records which di￿lOse with reasonable accvracy at arty time t￿ f￿anCIal position of the chatiry and which enable them to ensure that the financial statements comply with the Charities Aci 201 E, tk Ch￿Iry (AccouDts atyj Reports) Regulation5 and the provisions ol the ¢tust deed. The trus¢ees are respollsible for safeguarding the &8sets of the charity and hence for tsking reasonable steps for the prevention and detection of fraud and otlw iF￿guia[1ti&S. Appn)ved Sir Terence Rattigan Charitable Trust to the trustees on my examiJLqtion of accounts of the Sir T￿e￿e 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 tr￿1 you are r¢sEwible for the pRParati￿ of the accounts in ￿ordanCe with the requirements of the Clwities Act 2011 Act.). I [t￿rt in Trspect of my examination of the Tn￿t¢¢,5 accounts Lwried ￿t lllld￿ section 145 of the 2011 Act aud in carrying my examtnaÉion I have followed all ts appIl￿ble DI￿lOn$ 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 cA￿se to believe that in any matfflial ￿8￿cL. (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 rEquir￿ts concrrring the fonn and content of the ac¢ounts set out in the cTr￿lties (Accounts and Rewrts) RegulatiOll5 2￿8 other than auy requirement that the accounis give a 'true and fair view.. Ivhich is t￿t 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 rq￿rt in oth to enable a prow understanding of the accounts lo be reache(L Independellt EAamlner Name: T Clarke Relevant professional quaj1fK￿1oll or Ixty. FCCA Address: SR(J LLP. 10 Boli Couffj L￿nd0￿ 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 eX￿￿lture. 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 34￿0￿1 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 21*10.IMI 22,720.00 C&sh io IS￿55￿4 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 £35￿27.40 £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 Inforn￿1h 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 hIS￿rical cost conventii>tL with Aten￿ recognised at COSt or I￿n83CtIon value llnIe￿ otherwise Swed in the relevant accounting policy. The fjnancial s(arements ha￿ l*en Prep￿ in accordance with the FJnaDciaI Re[M)rti￿8 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 p￿paring ￿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 C￿￿neY of the priJllary ellvironment Ill which the Ckthriry The financiaI statements are also pre￿ted in slerliug. Ther¢ are no si8nificallt a￿aS r4uiring nllterA￿ judgemell￿ estimates or a￿UM[￿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 ab￿t 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 I￿O￿e receivable Can be n￿asu￿ ffliably. Royalties are recogni*d 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 eX￿nd1tt￿e as soon as tt*re 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 0￿d the S￿￿48¢￿ts a￿1 atnortisatiOD. Expenditu￿ of chatitable ￿tiVIti￿￿ grdnts made a￿j 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 a￿j 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 cc*ts involving the public accountability of the ch￿lty 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. I￿VerAble 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 ￿5￿lting 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 MeaSu￿d or esiimatsd reliably. Creditys and provisions are nornially recognised at their settlement amount after allowins for ally trade discounts due. The Ch￿ILY 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 SU￿agen{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. An￿Yth of governllntr A¢c(puntancy f¢¢s- Shipleys LLP CS manageD￿nI Independent examxnpls fees Overneas tax Bank charges s￿dry 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. Tn￿re￿,S tirne is considered to be almost exclusively S￿￿t 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 5￿Trt Oll the charl￿S 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 ¢harit￿S affairn. The amount owing at the year end ￿ CS Managemeni Support is £1,250 (2022: £5001. L Clayts)n (fOrn￿r]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 2￿5 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 Hist￿1¢ 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¢ £21￿10.10 £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 De￿mber 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 £15￿55.54 £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: A￿o￿nts 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 ￿Tr￿lIMents 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