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2020-10-20-accounts

Clara E Burgess Charity

Trustee’s Report

and Financial Statements

for the year ended 20 October 2020

Registered Charity Number 1072546

FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2020

CLARA E BURGESS CHARITY

INDEX

Page
Charity information 1
Report of the trustee 2
IndependentAuditor’s report 4
Statement of financial activities 6
Balance sheet 7
Accounting policies 8
Notes to the financial statements 10

CLARA E BURGESS CHARITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2020

CHARITY INFORMATION

Trustee

The Royal Bank of Scotland plc Ludlow Trust Company Limited

To 05 April 2021 From 05 April 2021

Principal office

The Royal Bank of Scotland plc Trust Services 6[th] Floor Trinity Quay 2 Avon Street Bristol BS2 0PT

Registered charity number

1072546

Auditor

Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY

Bankers

The Royal Bank of Scotland plc 1[st] Floor Trinity Quay 1 Avon Street Bristol BS2 0PT

Investment managers

Coutts & Co 440 Strand London WC2R 0QS

Page 1

FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2020

CLARA E BURGESS CHARITY

REPORT OF THE TRUSTEE

The trustees have pleasure in presenting their annual report for the purposes of the Charities Act 2011, together with the accounts for the year ended 20 October 2020. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

STRUCTURE GOVERNANCE AND MANAGEMENT

The charity was formed under the terms of the Will dated 6 November 1987 of Douglas Burgess of 21 Newton Street, Manchester who died on 20 October 1997. By his Will Mr Burgess authorised the trustee to retain his residuary estate upon trust as to income and capital for such charitable purposes as shall benefit children as the trustee shall in its absolute discretion think fit and to constitute a new charitable trust to be called “Clara E Burgess Charity” for these charitable purposes. This trust was created by a declaration of trust dated 6 October 1998.

The trust is controlled by the trustee.

The trustee has assessed the major risks to which the charity is exposed. The trustee believes that by ensuring controls exist over key financial systems incorporating The Royal Bank of Scotland’s systems and controls it has established effective systems to mitigate those risks.

OBJECTIVES AND ACTIVITIES

The charity’s income shall be and its capital may be applied for:

“The relief of children and young persons, in particular by the provision of facilities and assistance to enhance the education, health and physical well-being of such children, in order that their conditions of life may be improved, but having particular regard to children under the age of 10 years and those who have lost either one or both parents.”

The charity pursues these objects by making grants to charitable organisations. During the year under review the charity made grants totalling £286,500 (2019: £284,948) in furtherance of its objects.

In determining how the charity should pursue its objects, the trustee has had regard to the Charity Commission's guidance on public benefit.

ACHIEVEMENTS, PERFORMANCE AND FINANCIAL REVIEW

Incoming resources for the year amounted to £358,333 (2019: £339,413) comprising of income from investments of £202,913 (2019: £286,878) and transfers from endowment funds of £155,420 (2019: £52,535). Charitable donations, in the form of grants, made during the year amounted to £286,500 as compared with £284,948 in the previous year.

After the payment of expenses there was a net outflow of resources for the year of £255,991 (2019: £170,027) before gains and losses on investments. Gains on investments amounted to £132,479 (2019: £554,801) resulting in a net decrease in funds of £123,512 (2019 increase: £384,775) and total funds carried forward at the year end of £11,460,567 (2019: £11,584,079).

Reserves policy

Given the availability of the expendable endowment fund the trustee does not consider that the charity needs to maintain any significant free reserves although they recognise that such reserves will arise from time to time. As at 20 October 2020 free reserves were a deficit of £6,057 (2019: £24,941).

Investment policy

Under the terms of the Declaration of Trust the trustee is given an unrestricted power of investing or varying the investments as if the trustee is absolutely and beneficially entitled to them. The trustee uses this power to manage the investments with an investment policy aimed at producing a balanced portfolio which will generate a reasonable level of income to enable the trustee to make donations in furtherance of the charity’s objects.

Page 2

CLARA E BURGESS CHARITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2020

REPORT OF THE TRUSTEE

Grant-making policy

Applications for help from the charity are made by applying in writing to the trustee. The applications are considered at Quarterly intervals at meetings in January, April, July and October.

PLANS FOR FUTURE PERIODS

The trustee intends to continue the charity’s grant-making activity.

STATEMENT OF TRUSTEE’S RESPONSIBILITIES

The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities

APPOINTMENT OF AUDITOR

Blue Spire Limited continued as auditors to the charity throughout the year under review and have expressed their willingness to continue as auditor to the charity for the coming year.

Approved by the trustee and signed on its behalf.

James Sansum

For and on behalf of the Ludlow Trust Company Limited

Date 02 September 2021

Page 3

CLARA E BURGESS CHARITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2020

INDEPENDENT AUDITOR’S REPORT

Independent Auditors’ Report to the Trustee of Clara E Burgess Charity

Opinion

We have audited the financial statements of Clara E Burgess Charity (the ‘charity’) for the year ended 20 October 2020 which comprise the Statement of Financial Activity, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The trustees are responsible for the other information. The other information comprises the information included in the report of the trustee, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Page 4

FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2020

CLARA E BURGESS CHARITY

INDEPENDENT AUDITOR’S REPORT

Responsibilities of trustees

As explained more fully in the trustee’s responsibilities statement, the trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Cawley Priory South Pallant Chichester West Sussex Blue Spire Limited, Statutory Auditor PO19 1SY 02 September 2021 Date

Blue Spire Limited is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

Page 5

FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2020

CLARA E BURGESS CHARITY

STATEMENT OF FINANCIAL ACTIVITIES

Note
INCOME AND ENDOWMENTS FROM:
Investments
1
Total
EXPENDITURE ON:
Raising funds
2
Charitable activities
3
Total resources expended
Gains / (losses) on investments
8
Realised
Unrealised
Net Incoming Resources
Transfers between funds
11
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
11
Total funds carried forward
11		 Unrestricted
Funds
£
202,913
202,913
-
339,449
339,449
-
-
-
(136,536)
155,420
18,884
(24,941)
(6,057)		 Expendable
Endowment
Funds
£
-
-
119,455
-
119,455
(67,596)
200,075
132,479
13,024
(155,420)
(142,396)
11,609,020
11,466,624		 2020
Total
Funds
£
202,913
202,913
119,455
339,449
458,904
(67,596)
200,075
132,479
(123,512)
-
(123,512)
11,584,079
11,460,567		 2019
Total
Funds
£
286,878
286,878
119,277
337,627
456,904
50,514
504,287
554,801
384,775
-
384,775
11,199,304
11,584,079

The charity has no recognised gains or losses other than those dealt with in the statement of financial activities.

Page 6

CLARA E BURGESS CHARITY

FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2020

BALANCE SHEET AS AT 20 OCTOBER 2020

Note
FIXED ASSETS
Listed Investments
8
Total fixed assets
CURRENT ASSETS
Cash at hand and in bank
Total current assets
CURRENT LIABILITIES
Creditors: amounts falling due within one year
9
Net current assets/(liabilities)
Net assets
THE FUNDS OF THE CHARITY
Expendable endowment funds
11
Unrestricted funds
11
Total charity funds
The notes on pages 10 to 15 form part of these financial statements.		 £
£
11,409,407
11,409,407
117,290
117,290
66,130
51,160
11,460,567
11,466,624
(6,057)
11,460,567
2020		 £
£
11,445,858
11,445,858
248,207
248,207
109,986
138,221
11,584,079
11,609,020
(24,941)
11,584,079
2019		 £
£
11,445,858
11,445,858
248,207
248,207
109,986
138,221
11,584,079
11,609,020
(24,941)
11,584,079
2019
11,584,079
11,609,020
(24,941)
11,584,079

Approved by the trustee and signed on its behalf.

James Sansum For and on behalf of the Ludlow Trust Company Limited Trustee

Date 02 September 2021

Page 7

CLARA E BURGESS CHARITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2020

ACCOUNTING POLICIES

General information, scope and basis of the financial statements

Clara E Burgess Charity is an unincorporated charity constituted under a will trust. The address of the principal office is given in the reference and administrative details section and the nature of the charity’s operations and principal activities are given in the trustees' report.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Cash flow statement

The charity does not include a statement of cash flows on the grounds that it is applying FRS 102 Section 1A.

Incoming resources

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

Investment income is earned through holding assets for investment purposes such as shares. It includes dividends and interest. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.

Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following expenditure headings:

● Raising funds; these include investment management fees charged by the charity's investment managers

● Charitable activities; these include grants to third parties and the costs of administering the charity inclusive of governance costs

Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.

Support and governance costs are those that assist the work of the charity but do not directly represent charitable activities. They are incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in the governance of the charity and primarily associated with the constitution and statutory requirements.

VAT

The charity is not registered for VAT and is unable to recover VAT incurred. On this basis costs are recorded inclusive of VAT within the SOFA.

Taxation

The charity is considered to pass the tests set out in sections 521 to 536 Income Tax Act 2007 (ITA 2007), as such no income tax is payable on the charity's activities.

Page 8

CLARA E BURGESS CHARITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2020

ACCOUNTING POLICIES

Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Where investments are denominated in currencies other than Sterling, transactions are translated at the rate prevailing at the date of the transaction and year end values are calculated using the exchange rate prevailing at the year end.

Investments held in foreign currencies

Where investment assets are held in a foreign currency they are translated at the prevailing rate at the balance sheet date and any gain/loss on exchange rate movements is included in the statement of financial activities in the other recognised gains and losses section.

Debtors receivable and creditors payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In addition it includes cash at bank and in hand and cash balances within the investment portfolio available for investment transaction purposes.

Fund accounting

Unrestricted income funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Expendable endowment funds are those which are required to be invested to produce income but which may be transferred to unrestricted funds at the discretion of the trustees in order that they may be expended in furtherance of the charity’s objectives

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

Page 9

FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2020

CLARA E BURGESS CHARITY

STATEMENT OF FINANCIAL ACTIVITIES

1. Income from investments

Dividend income and interest received
2. Expenditure on raising funds
Investment management fees		 Unrestricted
Funds
£
202,913
202,913
Unrestricted
Funds
£
-
-		 Endowment
Funds
£
-
-
Endowment
Funds
£
119,455
119,455		 2020
Total
Funds
£
202,913
202,913
2020
Total
Funds
£
119,455
119,455		 Unrestricted
Funds
£
286,878
286,878
Unrestricted
Funds
£
-
-		 Endowment
Funds
£
-
-
Endowment
Funds
£
119,277
119,277		 2019
Total
Funds
£
286,878
286,878
2019
Total
Funds
£
119,277
119,277

3. Expenditure on charitable activities

3. Expenditure on charitable activities
Grants awarded (see note 5)
Administration fees
Governance costs (see note 4)		 Unrestricted
Funds
£
286,500
20,661
32,288
339,449		 Endowment
Funds
£
-
-
-
-		 2020
Total
Funds
£
286,500
20,661
32,288
339,449		 Unrestricted
Funds
£
284,948
20,545
32,134
337,627		 Endowment
Funds
£
-
-
-
-		 2019
Total
Funds
£
284,948
20,545
32,134
337,627

4. Governance costs

Administration fees
Auditor's remuneration		 Unrestricted
Funds
£
27,548
4,740
32,288		 Endowment
Funds
£
-
-
-		 2020
Total
Funds
£
27,548
4,740
32,288		 Unrestricted
Funds
£
27,394
4,740
32,134		 Endowment
Funds
£
-
-
-		 2019
Total
Funds
£
27,394
4,740
32,134

Page 10

FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2020

CLARA E BURGESS CHARITY

STATEMENT OF FINANCIAL ACTIVITIES

5. Grants awarded 2020 - to institutions for the relief of young people (one unless indicated)

Bethany Christian Trust
Book Trust
CCS Adoption
Child Autism UK
Children in Need
Children's Hospice South West
Childs I Foundation
Clear Sky Children's Charity
Dame Vera Lynn's Children's Charity
Designability
Dover Sholem Community Trust
Handicapped Children's Action Group
Help2read
Home Start Hampshire
Hope and Homes for Children
I Can Charity
Carried down		 £
£
6,000
Brought down
198,000
5,000
5,000
Lucy Air Ambulance for Children's Charity
5,000.00
5,000
MACS
5,000
120,000
National Eye Research Centre
6,000
6,000
React
5,000.00
5,000
Roald Dahl's Marvellous Children's Charity
2
10,000.00
5,000
Royal Brompton & Harefield Charitable Fund
5,000.00
5,000
Royal Manchester Children's Hospital
2
10,000.00
5,000
Street Child
6,000.00
5,000
The Separated Child Foundation
5,000.00
5,000
Thomas Coram Foundation for Children
6,000.00
6,000
Tiny Tim's Children's Centre
5,000.00
5,000
Tom's Trust
5,000.00
5,000
Winston's Wish
2
15,500.00
5,000
198,000
Total
286,500		 £
£
6,000
Brought down
198,000
5,000
5,000
Lucy Air Ambulance for Children's Charity
5,000.00
5,000
MACS
5,000
120,000
National Eye Research Centre
6,000
6,000
React
5,000.00
5,000
Roald Dahl's Marvellous Children's Charity
2
10,000.00
5,000
Royal Brompton & Harefield Charitable Fund
5,000.00
5,000
Royal Manchester Children's Hospital
2
10,000.00
5,000
Street Child
6,000.00
5,000
The Separated Child Foundation
5,000.00
5,000
Thomas Coram Foundation for Children
6,000.00
6,000
Tiny Tim's Children's Centre
5,000.00
5,000
Tom's Trust
5,000.00
5,000
Winston's Wish
2
15,500.00
5,000
198,000
Total
286,500
286,500

Page 11

FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2020

CLARA E BURGESS CHARITY

STATEMENT OF FINANCIAL ACTIVITIES

5. Grants awarded 2019 - to institutions for the relief of young people (one unless indicated)

£
Action Medical Research
3,000
Brought down
Badcock's Wood E-ACT Academy
20,398
Bibic
2,900
Motivation
Bishop Perowne CofE College
5,000
National Star Foundation
Bristol Children's Hospital, The Grand Appeal
5,000
Nepal Youth Foundation (UK)
Bromley Heath Junior School
5,000
One-Eighty
BuildAid
5,000
Oxford Hospitals Charity
Cann Bridge School
2,900
Pride of Bristol
Carradale Primary School
2,000
Project Harar
Cherry Trees
3,000
Puddleducks Nursery Pre-School
Chichester Diocesan Association for Family Support Work
2,000
Right Now Foundation
ChildAid to Eastern Europe
2,900
Ronald McDonald House Charities UK
Children & Families in Grief
3,000
Royal Brompton & Harefield Hospitals Charity
Children's Bereavement Centre
3,000
Sailors Children's Society
Children's Hope Foundation
3,000
Sefton Childrens Trust
Children's Hospice South West
1,000
SOS Children's Villages
Christ Church CofE (VC) Primary School
10,000
St Andrew's Children's Society
Church Pastoral Aid Society (CPAS)
2,900
St Richard's Hospice
Clear Sky Children's Charity
2,900
Stanbridge Fliers
Compass - Services to Tackle Problem Drug Abuse
3,000
Stanbridge Primary School
Conquest Centre
3,000
Stanbridge Primary School
Coram Life Education - Lfe Education Centres
5,000
Supportline
Creating Better Futures
5,000
The Children's Trust
Easton Community Children's Centre
5,000
The Chronicle Sunshine Fund
Endeavour Training Limited
2,900
The Hugs Foundation
Felix Road Adventure Playground Association
2,900
The Kings Hedges Family Support Project
Footsteps
3,000
The Pepper Foundation
Friends of Loyne School - The Loyne Specialist School
3,000
The Royal National Orthopaedic Hospital Charity
Groundwork Northamptonshire
2,900
The Sanata Charitable Trust, Restart Africa
Guys Gift
2,900
The Sreepur Village, Bangladesh
Handicapped Children's Action Group
3,000
Transform Burkina
Hannah More Primary School
5,000
Twins Trust Ltd - TAMBA
Headstart4Babies
3,000
Various Municipal Charities (Magdalen)
HealthProm
3,000
Vauxhall City Farm
Helen & Douglas House
3,000
Walk Tall
Kids Konnect
2,900
Walsall Bereavement Support Service
Kingswood School Association
1,000
Widcombe CofE Junior School
Little Hearts Matter
2,900
Widcombe Infant School
Magic Breakfast
3,000
York Mind
Martin House
3,000
Zambia Orphans Aid UK
Mary Ann Evans Hospice
2,900
Zoe's Place Trust - Baby Hospice
Carried down
156,198
Total		 £
156,198
2,900
2,900
3,000
2,900
2,900
5,000
2,900
5,000
3,000
3,000
3,000
3,000
3,000
2,900
5,000
3,000
1,000
5,000
5,000
2,900
2,900
2,900
5,000
5,000
2,900
3,000
3,000
2,900
5,000
5,000
3,000
1,650
3,000
2,900
2,500
2,000
3,000
2,900
2,900
284,948

6. Auditors' remuneration

2020 2019
Unrestricted Endowment Total Unrestricted Endowment Total
Funds Funds Funds Funds Funds Funds
£ £ £ £ £ £
Audit fees 4,740 - 4,740 4,740 - 4,740

Page 12

FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2020

CLARA E BURGESS CHARITY

STATEMENT OF FINANCIAL ACTIVITIES

7. Related party transactions

Fees payable to the Royal Bank of Scotland, which is trustee of the charity, for investment management fees and administration of the charity are included in notes 2, 3 and 4. These fees are authorised under sections 2.3.1 and 4.2 of the trust deed. At the balance sheet date £50,890 (2019: £52,346) is accrued and payable to the Royal Bank of Scotland.

The charity has no employees, all administation being carried out by the trustee. Other than the fees noted above no remuneration was paid or expenses reimbursed to any trustee or other related party.

8. Fixed asset investments - managed funds

Market value brought forward
Additions at cost
Disposal proceeds
Unrealised gains/(losses)
Market value carried forward
Gains/(losses) on investment assets
Unrealised gains/(losses)
Realised gains/(losses)
Investments quoted on a recognised stock exchange or valued by reference to such investments		 2020
£
11,445,858
5,593,172
(5,829,698)
200,075
11,409,407
200,075
(67,596)
132,479
11,409,407
11,409,407		 2019
£
10,789,639
5,208,273
(5,056,341)
504,287
11,445,858
504,287
50,514
554,801
11,445,858
11,445,858

9. Creditors: amounts falling due within one year

9. Creditors: amounts falling due within one year
Accruals - Royal Bank of Scotland fees
Accruals - Auditors remuneration
Acrruals - Grants		 Unrestricted
Funds
£
14,619
4,740
10,500
29,859		 Endowment
Funds
£
36,271
-
-
36,271		 2020
Total
Funds
£
50,890
4,740
10,500
66,130		 2019
Total
Funds
£
52,346
4,740
52,900
109,986

10. Analysis of net assets between funds

Fixed assets
Current assets
Current liabilities		 Unrestricted
Funds
£
-
23,802
(29,859)
(6,057)		 Endowment
Funds
£
11,409,407
93,488
(36,271)
11,466,624		 2020
Total
Funds
£
11,409,407
117,290
(66,130)
11,460,567		 Unrestricted
Funds
£
-
47,688
(72,629)
(24,941)		 Endowment
Funds
£
11,445,858
200,519
(37,357)
11,609,020		 2019
Total
Funds
£
11,445,858
248,207
(109,986)
11,584,079

Page 13

CLARA E BURGESS CHARITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2020

STATEMENT OF FINANCIAL ACTIVITIES

11. Analysis of net movement in funds

Endowment funds
Unrestricted funds
Total Funds
Endowment funds
Unrestricted funds
Total Funds
12. Comparative statement of income
INCOME AND ENDOWMENTS FROM:
Investments
Total
EXPENDITURE ON:
Raising funds
Charitable activities
Total resources expended
Gains / (losses) on investments
Realised
Unrealised
Net Incoming Resources
Transfers between funds
Net movement in funds		 Year ended 20 October 2020 Year ended 20 October 2020
Total funds
Total
Total
Gain/
brought
incoming
resources
(losses) on
forward
resources
expended
investments
£
£
£
£
11,609,020
-
(119,455)
132,479
(24,941)
202,913
(339,449)
-
11,584,079
202,913
(458,904)
132,479
The transfer from the expendable endowment to the unrestricted
from the unrestricted funds in furtherance of the charity's objects
section 2.3 of the trust deed.
Year ended 20 October 2019		 Transfers
Total funds
between
carried
funds
forward
£
£
(155,420)
11,466,624
155,420
(6,057)
-
11,460,567
fund was to support expenditure
and to pay fees as authorised by
Total funds
Total
brought
incoming
forward
resources
£
£
11,226,031
-
(26,727)
286,878
11,199,304
286,878
and expenditure
Note
1
2
3
8
11		 Total
resources
expended
£
(119,277)
(337,627)
(456,904)		 Gain/
(losses) on
investments
£
554,801
-
554,801
Unrestricted
Funds
£
286,878
286,878
-
337,627
337,627
-
-
-
(50,749)
52,535
1,786		 Transfers
between
funds
£
(52,535)
52,535
-
Expendable
Endowment
Funds
£
-
-
119,277
-
119,277
50,514
504,287
554,801
435,524
(52,535)
382,989		 Total funds
carried
forward
£
11,609,020
(24,941)
11,584,079
2019
Total
Funds
£
286,878
286,878
119,277
337,627
456,904
50,514
504,287
554,801
384,775
-
384,775

Page 14

FINANCIAL STATEMENTS FOR THE YEAR ENDED 20 OCTOBER 2020

CLARA E BURGESS CHARITY

STATEMENT OF FINANCIAL ACTIVITIES

13. Financial instruments

The carrying amounts of the charity's financial instruments are as follows:

13. Financial instruments
The carrying amounts of the charity's financial instruments are as follows:
2020
Total
Funds
£
Financial assets
Measured at fair value through net income/(expenditure):
Fixed asset investments
11,409,407
11,409,407
The income, expense, net gains and net losses attributable to the charity's financial instruments are summarised as follows:
2020
Total
Funds
£
Income and expense
Financial assets measured at fair value through net income/(expenditure)
Investment income
202,913
Investment management fees
(119,455)
83,458
Net gains and losses (including changes In fair value)
Financial assets measured at fair value through net income/(expenditure)
Realised gains/(losses) on investments
(67,596)
Unrealised gains/(losses) on investments
200,075
132,479		 2019
Total
Funds
£
11,445,858
11,445,858
2019
Total
Funds
£
286,878
(119,277)
167,601
50,514
504,287
554,801

Fixed asset investments are held at fair value with valuations obtained using last traded or closing mid/bid market prices as available.

Page 15