Sir Terence Rattigan Charitable Trust Report and Financial Statements for the year ended 27 November 2024 Charity no: 1072532 DH1205654121SLH
Sir Terence Rattigan Charitable Trust INDEX TO THE AccouNrs FOR THE YEAR ENDED 27 NOVEMBER 2024 Page Details of Charily'S Trustees and Advisors 2 - 3 Trustees. Repori Independent Examiner's Report to the Trustees Statement of Financial Activities Balance Shcel 7- 1 l Notes to the Financial Sfatements
Sir Terence Rattigan Charitable Trust Details of Charity's Trustees & Advisors Trustees H V S WittiillDS J S Mccuin L Clayton S Curtis V C Goodwin S O'connor Principal Address 10 Orange Street Haymarkel London WC2H 7DQ Registered Charlty No. 1072532 ALLuuntants Shipleys LLP 10 Orange Strcel Hayiiiarket London WC2H 7DQ Independent Examlner T Cltirke SRG LLP 10 Boli Court London EC4A 3DA Bankers Couits & Co 440 Strand London WC2R OQS Alan Brodie Representation 14 The Barbon Building Red Lion Square London WC14QH
Sir Terence Rattigan Charitable Trust TRUSTEES, REPORT The Trustees present their report along wirh the financial Slalemenls of the charity for the year ended 27 November 2024. The financial stalemenls have been prepared in accordance with the aLcounting policies sei out on pages 7 and 8 and comply with the charity's trusi deed, the Charities Act 201 l and the Siatemenl of Recommended Practice: Accounting and Reportino by Charities prep<iring their accounis in accordance with the rinlmc1 reporting standard appliciiblc in the UK and Republic of Ireland {FRS 102). Objectfives and activities for the public benefit The trustees have the power to apply the trust fund and income thereof to the following charitable bodics in equal shares: (a) Denville Hall (registered chltY number 1148968) (b) King George V Fund for Actors and Actresses (reglstered charity number 210740), of which H V S Williams is a Commiiiee Member and J S Mccuin is secretary and treasurer. The trustees confirni that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit. The trusiees considcr that donations 10 Denville Hall and the King George V Fund are Wlihin this guidance. The truseS of Denville Hall, a care hoine for actors have defined Ihellr conti'ibution for the public benefit to be as follows 'The chaiity serves elderly members of a parcicular profession, one where financial security is, in many cases. far from being the nomi. Financial support is given through a general subsidy of all our residents. and particular often subscanual additional sub%idy to those in greatest need,. The trustees of the King George V Fund have defined iheir Lontribution for the publiL benefit lo be 'By paying Grants lo ALtors and ALiresses who require financial assistance, Ihe Fund hopes the recipients will be able to Slay in their own horne5 longer and not become a burden on the state., Grant maklng pollcy The truste¢5 decide on Ihe timing of the distribuiions lo ilie two charities whiLh depends oli the amount of the &vailable cash rcscrves. The trusiees however are bound by ihe objectives above with regards lo whom they can Inake grants lo. Achievements and perforniance The trustees niade a distribution of £10,000 in August and Septeniber 2024 to both ot (he beneficiaries. The distribulions totalling £20,000 is the same as last year's total, Financial revlew Thc triist's income from its copyrights tolall¢d £45.814 (2023: £37,483) for the yeai.. Significant royaliiLs were received from The Deep Blue Sea (£15.189), The Winslow Boy (£10.265). Separate iiibleq (£4,964). The Browning Version {£3.356) and Tn Pi'ai,8e ol Love (£3,100) The lolal expenditure in the year was £37,873 (2023: £36,497) ot which £20,000 (2023.. £20,000) spent on ch3J"itable activities. Royalties The trust is reliant on the income from its copyrights which depends on the success of current productions of the plays. Reserves policy The policy of the trustees (which is reviewed at least annually) is to fully distribute all of the Anconie received by the charity. tdking any year with another, so that no reserve will be formed out of incorne. At the year end Ihe balance af inci)me is C411Lulated and distributed in the tollowing year. Therefore all income will be distributed in thc ycar covered by these accounts, in accordance with the policy. The policy will be subject to the maintcnance of sufficlent cash 10 settle creditors as and when they fall due. The total free reserves held at 27 Novetnber 2024 are £22.568 (2023: £13,717). The free reserves are the i-esei-ve.s freely available to spei)d on any of the charity's purposes. The fl'ee reserves are calculated as total Iiet assets less the copyright.s as they are the only iieni noi freely available to spend. The trustees decided to reduce the reserves from the amount ai Ihe height of the pandemic a few year8 ago.
Sir Terence Rattigan Charitable Trust TRUSTEES, REPORT (continued) Covid The recovery of theatrical perfonnance following the COVID-19 pandemic is still slow and the Trustees have assessed that royalty income will remain al a lower level ihan previously enjoyed for some Lime to come. Some royalty income has been received since the year eiid and the Trustees are retaining funds to ensure that there is sufficienr available to meet day-to-day expenses in the near and mediuni future. They will continue to monitor the situation regularly. Plans for the future The tnJs(ees have a lilerary agent who is commissioned to expand the knowledgc and the production of Sir Terence Rattigan's plays. Structure? governance and management The Sir Terence Ralligan Charilable Trust is constituted by a Deed of Trust dated 17 September 1998 and is a registered charity (no. 1072532). At the trustees, meetings which lake place twice a year, the trustees agree on the grant making, reserves and risk management policies and performance. Recruitment and appointhient of the trustees A prospective trustee is nominated by one ot the trustees and their appointmeni is ratified with the agreement of all of the trustees after appropriate assessments have been made. Risk management The trustees have assessed (he mujor risks to which the Lharily is exposed, in particular those related lo Ihe operations and finance of the charity and are satisfied that systems are in place to miligale it5 exposure to major risks. The Irusleel re£ilise that the financial success of the charity is dependent on the popularity of the plays of SAr Terence Raiiigan. Trustees, responslbllities in relation to the financial statements The trustees are responsible tor pi'epariiig (he Trusteeb, Report and the financial statements in accordance with applicable law and United Kingdom AccounLing Standards (Unitcd Kingdom Generally Accepted Accounting PraLtiLe). The law applicable to Lharities in England and Wales reqiiires the IrLISlees to prepare financial slalemeiiis for each finaiicial year whlcli give a true aiid fair view of the slate of affairs of the charity aiid of iiicomiiig resources and application of resources of the ChilY for thai period. In preparing these financial sliilements. the trusices are required to.. select suitable dccounting policies and then apply them consistently: observe the methods and principles in ihe Charities SORP; make judgemeiils lind eslimales ihat are reasonable cind prudeiil. state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the Financial statements. and pi'epare the financial statements on the going concern basis unless it is inappropriale lo presume that the charity will continue in business. The trustees are I'espoiisible for keeping accounting records which disclose with reasoiiable accuracy al any time the financial position of the charity and which enablc them lo ensure that the financial slatcnients coniply with the Charities Acl 2011. the Charity (Accounts and Reports) Regulations and the provisions of the trust deed. The Irustees are responsible for safeguarding the assets of the chariiy and hence for taking reasonable Steps for the prevention and detection of fraud and other irregularilies. Approved on b half of the rustees J S Mccui on
Sir Terence Rattigan Charitable Trust INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES I i-eporL lo the li'uslees on my examinalioD of the accounts of the Sir Terence Ralti(Tan Trust for Ihe year ended 27 November 2024, which are set out on pages 5 to I l. Responsibilities and basis of report As Ihe Lharity irustees of the Crust you are responsible for the preparatioii of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). T report in respeci of my examination of the Trustee's accounls Lan'ied oui under section 145 of the 2011 Act and in c-rying out my examtnation I have followed all the applicable Directions given by the Charity Coniniission under section 145 (5)(b) of Ihe 201 l Act. Independent examiner's statement I have completed my examination. I confim that no rnaierial matters have come to my attention in connection with the exatnination giving rne cause to believe thai in any material respect.. { l ) accounting i'ecords were not kept in re¥>pect of the Trubt ab required by section 130 ot the Act; or (2) the accounts do not accord with those records; or (3) che accounts do iiot comply with the applicable requirements concerning the fonn aiid content of the accounis sei out in the Charilic8 (Accounts and Reports) Regulations 2008 othcr than any requirenient that the accounts give a 'uue and fair view, Which is not a matter Lonsidered as parl of an independent examination. I have no LonLerns and have come aLross no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Independent Examiner Name: T Clarke Relevant professional qualification or body: FCCA Address: SRG LLP. 10 Bolt Court. London. EC4A 3DA
Sir Terence Rattigan Charitable Trust STATEMENT OF FINI ANCIAL ACTIVITIES FOR THE YEAR ENDED 27 NOVEMBER 2024 Tolal Unrestricted Funds Total Unrestricted Fun(Ls 2023 Page 2024 Income Other income - royaltie5 45,814.84 37,483.65 Total illcome 45,814.84 37,483.65 Expenditure Costs of raising funds.. Royalties management cosis Copyrights - amortisation 7250.54 910.00 8,202.62 910.00 10 8,160.54 9,112.62 Charitable expenditure: Grants and governance costs 29,712.98 27.384.38 Total expendlture (37,873.52) (36,497.00) Net surplus for the year and net movement in funds 7,941.32 986.65 Total funds brought forward 35,527.46 35,540.81 Total funds carrled forward £43,468.78 £35,527.46 The notes on pages 7 to I I form pt of these accounts.
Sir Terence Rattigan Charitable Trust BALANCE SHEET AS AT 27 NOVEMBER 2024 Page 2024 2023 Fixed assets Copyrighis 10 20900.00 21,810.00 Current &ssets Cash 10 27,644.95 15,555.54 Debtors 11 1,211.92 Crediturs: Amounts falling due withln one year (5,076.17) (3.050.00) Net currei)t assets 22,5611.78 13,717.46 Net Xssets £A3,468.78 £35.527.46 Represented by: UDrestricled Fuiid 43,468.78 35,527,46 £43,468.78 £35,527.46 Approved for and on behiilf of the Tiuslccs on nd signed on their behalf by.'_ The s on pages 7 10 1 I form P<wI of these accounts.
Sir Terence Rattigan Charitable Trust NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 27 NOVEMBER 2024 Principal accounting policies 1.1 General inforniation Sir Terence Raltigan Charitable Trusi is an unincorporated Irusl governed by a Irusl deed and regislered with the Charicy Conimission in England under nuinber 1072532. The principal address is 10 Orange Street, Haymarket. London, WC2H 7DQ. The objectives of the charity are set out on pagc 2. 1.2 Basls of Preparation The tinancial statements have been pi-epared undei- the historical cost convention, with items reLognised al cost or trdnsaction value unless oiherwise sl¢lted in the relevant <iccounling policy. The fiiiancial statemenis have becn prepared in accordance with the Financial Reporting Standard applicdble in the UK and Republic of Treland (FRS 102). Accounting and Reporting by Charities.. Siatement of Recommended Practice applicable to Charities preparing their accounts in aLcordaiice with the Finai)cial Reporting Standard applicable in the UK and Republic of IrLldnd (FRS 102) (effcctivc January 2019) (Charities SORP FRS 102) and the Charities Acl ?OE I. The Charity meets Ihe definition of a public beiiefit entity under FRS 102. The functional currency of the charity is considered to be pounds steiling because that is the currency of the primary eLonotniL' environment in whiLh che Charity operates. The financial Sldtements dre also presented in puunds slerling. There are no significant areas requiring material judgemenis. eqtimates or a.ssumptions. 1.3 Cash flow statement The Lharity has taken advantage of the exemption in the Charities SORP (FRS 102) frum Ihe requirement lo produce a cash flow 5tatemenl on the groiinds thic l it is a sniall chatily. 1.4 Preparation of the acLounts on a golng concern basls The trustees considei- that there al'e no material uncertainties about the charity s ability lo continue as a going concei'n for at least twelve months from the dale of approving the accounts. due to the Lontinuing worldwide interest in producing Terence Raltigan play8. 1.5 Fund Vdccuunting Unrestricted funds are available for distribution by the trustees in equal amounts to the iwo designated charilable bodies in accordance with the reserves policy shown in the Truslees, Report. 1.6 Income recognition All income is recognised once the charity has entiilemenl to the income, it is probable that the income will be received and the amount of income receivable can be tneasured reliably. Royalties are recognised as income when the charity has been iiotified ihai these are receivable.
Sir Terence Rattigan Charitable Trust NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 27 NOVEMBER 2024 1.7 Expendithre recognition Liabilities are recognised ils expenditure as soon as there i,s a legal or constructive obligation committing the charity lo that expenditure. it is probable that settlemeni will be required dnd the amount of the obligation can be measured reliably. All expenditure is acLounted for on an accruals basis. Costs of raising funds consists of the commissions of agenls and the sub-agents and amorlisation. Expenditure of charit4ible dctivities includes grdnts made and governance costs. Grants payable are payments made to third parties in the turlherance of the charitable objectives of the charity. All grant offers are unconditional and are accrued once the recipient has been notified of the grant award. The notification gives ihc rccipient a rcasonable expectation ihai they will reccivc the granl Govcrnancc costs coniprise all costs involving Ihc public iiccountability of the charity and its compliance with regulation and good practice. These co8t8 include co.sts related to the independenc examination of the accounts and legal fees. Governance costs are allocated lo applicable expendilure headings based on the time spent by trustees. Irrecovcrable V AT is Charged against the expcnditure heading for which li was incurred. 1.8 Flxed assets Copyi'ighis are shown at their M.ke1 value when they were bequeathed to the charity foriy seven yeai's ago less dniorlisdlion over their rcniaining life of thirty three ye<ll'S comniencing froni Ilie year ended 27 November 2015 to the year ended 27 Novembcr 2047. 1.9 Cash at bank Cash al baiik and Lash in hand iiicludes cash aiid short term highly liquid iiivestmeiits with a short maturity of three nionths or less from the date ot acquisition or opening of the deposit or siniilar accounr. 1.10 Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a pasi evenl thal will probably result iii the Iransfer of funds to a third parry and the amoLlllI due to sellle the obligation cali bc measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any crade discounts due. 1.11 Fliianclal instruments Tlie charity only has financial assels and financlal liabilities of a kind that qualify as basic financial insiruiiienls. Basic financi<il iiislrumenls are inilia]ly recognised al iransaction value and subsequently measured at their settlement value.
Sir Terence Rattigan Charitable Trust NOTES TO THE FINANCIAL STATEMENTS (continued} FOR THE YEAR ENDED 27 NOVEMBER 2024 Page 2024 2023 2. Other income Royalties 45,814.84 37,483.65 45,814.84 37.483.65 Royalties management costs Alan Bi-odie Representalion conimission Sub-ageThls commission Website costs 5,194.62 2,013.42 42.50 4,746.37 3,432.25 24.00 £7250.54 £8.202.62 4. Grants Denville Hall King George V Fund for Actors and Actresses 10,000.00 10,000.00 10,000.00 i 0,000.00 £20,000.OU £20,000.00 Analysls of governance c(Ksts Accountancy fee.s - Shipleys LLP CS Mdll4lb7ement Independeni examiner's fees Oveisca.% tax Bank charge. Sundry expenses 5,000.00 750.00 2,000.00 1,897.68 4,875.00 750.00 1,800.00 39.38 (80.00) 65.30 £9,712.98 £7,384.38 Total grants and governanL'e cosls £29,712.98 £27,384.38 Governance costs are allocdted to dctivities based un tirne spent by tru8tees on each activity. Trustee's time is considered to be almost exclusively spent on charitable activities. The charity Ilas no staff and hence no P£iyments in excess of £60,000 nor peiision contributions have been made. No tnistee received any rcmuneralion during the ycar or the reirnbursement of expenses. The accountancy fees payable lo Shipleys LLP, Chartered Accountants are for staff time in the management and administration of the charity of £5,000 (2023: £4.875). The fees ch.ged are only for the time spent on the charity's affairs. The amounl owing al the year end to Shipleys LLP is nil (2023.. nil). J S Mccuin is a consultdnt lo Shiplcys LLP but he does not chiwgL any tee.s for the lime he spends on the charity's affdirs. There were fees Piiyable to CS Managemeni Support Ltd during the year of £750 (2023.. £750). The fees when charged are only for the lime spenl on the charity's affairs. The amount owing at the year end io CS Mlmagement Support Ltd is £750 (2023.. £1,250). L Clayion (formerly Penhaligan) is 11 director of CS Management Support Ltd whose services are charged only for Ihe time speni on the charity's affairs.
Sir Terence Rattigan Charitable Trnst NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 27 NOVEMBER 2024 Annual donations to date 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2CK)9 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 (notc 4) 100,000.00 15,000.00 40,000.00 14,000.00 60,000.00 60,000.00 69,000.00 37,000.00 93,000.00 84,000.00 161,000.00 270,000.00 132,000.00 90,000.00 46,000.00 60,000.00 220,000.00 158,000.00 60,000.00 20,000.00 44,000.00 30,000.00 35,000.00 20,000.00 20,000.00 £1,938,000.00 Page 2024 2023 7. Copyrights Hiscoric cosi £30,000.00 £30,000.00 Amordsation Balance bi'oughl forward Charge for the year 8,190.00 910.00 7,280.00 910.00 Balance carried forward £9,100.00 £8.190.00 Net book value £20,900.00 £21,810.00 The Lopyrights It for 70 years from the end of the calendar year in which Sir TerenLe Rdtligan died. He died on 30 Novembei- 1977 50 the copyrights expire on 31 DeceT]iber 2047. The historic cost above is Ilie value of the copyriohis when bequeathcd by Sir Terence Ralliglin LO ihe tru.%lees 47 years ago. The copyrights are being amortised over the remaining 23 years. 8. Analysis of cash Coutts & Co current dccount £27,644.95 £15,555.54 io-
Sir Terence Rattigan Charitable Trust NOTES TO THE FINANCIAL STA TF4Mi ENTS (continued) FOR THE YEAR ENDED 27 NOVEMBER 2024 Page 2024 2023 Analysls of debtors Couits & Co- reversal of bank charges VAT 120.00 1,091.92 £1,211.92 10. Analysis of Ilabllitles: Amounts falllng due within one year CS Management SRG LLP VAT 750.00 1,900.00 2,426.17 1,250.00 1.800.00 £5,076.17 £3.050.00 Movement in reLognised grant commitments during the year Gran( conimitments recognised ai the start of the year New grani commitments charged lo the SOFA in year (se¢ note 4) Grants paid during Ihe year 20,000,00 (20,000.00) Amount of grant commitments recognised at 27 Novcmbci 2024 ij