Charity Registration No. 1075731
BERNARD AND JOYCE COLEMAN CHARITABLE TRUST
Annual report and unaudited financial statements
For the year ended 30 April 2021
BERNARD AND JOYCE COLEMAN CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr J Fairclough Mrs Carole Fairclough Mr A Isaacson Dr Paul Cundy (Appointed 23 February 2021)
Charity number 1075731 Independent examiner WSM Advisors Limited Connect House 133-137 Alexandra Road Wimbledon London SW19 7JY
BERNARD AND JOYCE COLEMAN CHARITABLE TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the accounts | 6 - 12 |
BERNARD AND JOYCE COLEMAN CHARITABLE TRUST
TRUSTEES' REPORT
For the year ended 30 April 2021
The trustees present their annual report and financial statements for the year ended 30 April 2021.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's deed of trust , the Charities Act 2011 and “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 (FRS 102) (effective 1 January 2015)”
Objectives and activities
The charity's objectives are to provide coaching facilities to young sportsmen and sportswomen and to give donations to other similar sporting charities and grants to sporting clubs and associations. It further makes grants to medical services and to youth projects.
The charity has one part time secretary and a part time coach, who engages the services of the other coaches to teach young cricketers.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Grant making policy
Consideration is given to all applications which could further the charity's objectives. The trustees have determined the priorities for funding, which will be developing youngsters to play sport, particularly cricket, and medical charities. All grant applications will be subject to initial assessment to ensure they meet the basic criteria for funding. Grants will be considered by the trustees at the AGM and other meetings where necessary. It is the policy of the trustees to monitor all grants made.
Achievements and performance
As will be seen from the list of donations the charity has continued to help various causes in the year.
During the year grants totalled £95,000. The recipients were :
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£ 5,000 Royal Hospital for Neuro-Disability
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£ 8,000 Royal Marsden Cancer Charity
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£ 8,000 Royal Theatrical Fund
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£ 500 Royal Star and Garter Homes
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£ 5,000 Sported Foundation
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£ 30,000 Alzheimer's Society - Sport against Dementia
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£ 5,000 Arundel Castle Cricket Foundation
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£ 5,000 AFC Wimbledon Foundation
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£25,000 ENT Charity 9918-Charing Cross Hospital
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£ 1,000 British Heart Foundation
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£ 1,000 Bomber Command Association
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£ 1,000 Battle of the Atlantic Memorial
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£ 500 Surrey Cricket Board - Bedser Grant
Reserves policy
The charity's policy on reserves is to retain sufficient funds for it to continue making grants at the current level for the foreseeable future.
Financial review
Total income from donations totalled £150,000. Total expenditure, including grants, totalled £126,734. The net movement in funds during the year was a increase of £124,693 with total fund balances increased to £648,466 from £523,773.
The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
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BERNARD AND JOYCE COLEMAN CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED)
For the year ended 30 April 2021
Structure, governance and management
The charity is controlled by its governing document, a deed of trust dated 6 November 1998, as amended by supplemental deeds dated 27 April 1999, 25 October 2005 and 1 June 2020, and constitutes an unincorporated charity.
The trustees who served during the year were: Mr B Coleman OBE (Deceased) (Deceased 13 November 2021) Mr J Fairclough Mr D Newton (Deceased 11 October 2021) Mrs Carole Fairclough Mr A Isaacson Dr Paul Cundy (Appointed 23 February 2021)
All t rustees give their time voluntarily and receive no benefits from the charity. No expenses were reclaimed from the charity.
In selecting individuals for appointment as charity trustees, the charity trustees will ha ve regard to the skills, knowledge and experience needed for the effective administration of the charity.
The trustees' r eport was approved by the Board of Trustees.
..............................
Mr J Fairclough Trustee Dated: ....23/02/2022......
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BERNARD AND JOYCE COLE CHARITABLE TRUST INDEPENDENT EXAMIP4ER'S REPORT TO THE TRUSTEES OF BERNARD AND JOYCE COLEMAN CHARITABLE TRUST I report on the fLnaJh¢ial st*ements ofthe charity for the year ended 30 April 2021, which art set oul on pages 4 to 12. Respettive responsibilities of tn15tee5 and eXaTh1¢T The ¢harity's irusiees are responsible for the preparalitsn Of the financial staiements. I'he charity's tru51ees ¢onsider ihal an audil is not required for this year under section 144(21 ofthe Charities Aci 2011 (the 2011 Act) and thal an itldependent examination is needed. It is my responsibility to= examin¢ the finan¢ial statements under section 145 of th¢ 2011 ACL (li) to follow the procedures laid down in the gene Direrti(Ins given by the Charity Cotnmissiorh ulld¢r secljon 14515Xbl of the 2011 Act., and (iiil to state whether partirular maners have come lo my attention. Basis ofindependent exaThiner's Teport My exninatIon wa5 carried out in arcoidan¢e with the gcnerdl Directions given by the Ch3rÈty Commission. An examination includes a review of the accounling retojds kept by the charity and a cotnparÈson of the fitjancial statetnents presenied with those rccord5. It also inCldes consideration of any llnusual item5 or di5closure5 In the Cin3n¢ial $lalements. and seeking ¢xplanation5 frtsm you 3$ trusiees coneeming any such maller5. The procedures undeFtaken do rtot provide all the evidencc that would b¢ i¢quired in an audit and consequcntly no opinion 15 given as to whether the financial statements present a'tr and fair view, and th¢ report t$ limited to those matters Set oul in the next 5taiement. INdendent ¢xamÉner's statement Your attention is drawn to the fact that the chaTiry has prepared financial statcments in ac¢ordance wjih Accoutjting and reporting by Charities pparillg their acctsurtts irt accordance with the Financial Reporting Standard applicable in the UK and Repllblic of Ireland (FRS 1021 in prefe¢¢ io the Accowiting al Retx)rtiN8 by Charities= Staletntnt of Recomrnended Prattice issued on l April 2005 which is Tef¢trtd to in the extant regulations but has now been withdrawn. l understand that thks ha5 been d(>ne in order for the financial statemenls to provide a Érue and fair view in accordance with Gcnerally Accepted Accounting Pra¢ti¢e eff¢dive for rew>rting peri(NJs on or aftei l January 2015. In connection with my examinatLOn, no other matter except that referred to in th¢ P10$ pangrdph has eome to my attention.. (al whi¢h gives me reasonable cause tts believe thal in any material respect the requirements". to kecp accounting records in aceoTdanee with section 130 of the 2011 Art", (Li) ¢0 prepa financial statements which accord with the accounting records and comply with the accounting requLiern¢nts of the 2011 Act., have not been met or Ibl to which, in my opinion. attetltion thould be drawn in order to ellable a proper understanding of the financial statements to be reached. Wendy PatteTson WSM Advisors Limited Connect House 133-137 Al¢xandrd Road Ivimbledon London SW197JY Dated.. 572112
BERNARD AND JOYCE COLEMAN CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
For the year ended 30 April 2021
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2021 | 2020 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 3 | 170,443 | 59,900 |
| Investments | 4 | 5,229 | 8,883 |
| Total income | 175,672 | 68,783 | |
| Expenditure on: | |||
| Raising funds costs | 5 | 6,667 | 7,211 |
| Charitable activities | 6 | 120,859 | 73,726 |
| Total resources expended | 127,526 | 80,937 | |
| Net gains/(losses) on investments | 11 | 76,547 | (72,987) |
| Net movement in funds | 124,693 | (85,141) | |
| Fund balances at 1 May 2020 | 523,773 | 608,914 | |
| Fund balances at 30 April 2021 | 648,466 | 523,773 |
The statement of financial activities includes all gains and losses recognised in the year.
All funds are unrestricted.
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BERNARD AND JOYCE COLEMAN CHARITABLE TRUST
BALANCE SHEET
As at 30 April 2021
| Notes Fixed assets Investments 13 Current assets Debtors 14 Cash at bank and in hand Creditors: amounts falling due within one year 15 Net current assets Total assets less current liabilities Income funds Unrestricted funds |
2021 £ 621 168,389 169,010 (28,186) |
£ 507,642 140,824 648,466 648,466 648,466 |
2020 £ 6,113 61,375 67,488 (3,470) |
£ 459,755 64,018 523,773 523,773 523,773 |
|---|---|---|---|---|
The accounts were approved by the Trustees on .....23/02/2022.............
.............................. Mr J Fairclough Trustee
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BERNARD AND JOYCE COLEMAN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 April 2021
1 Accounting policies
1.1 Accounting convention
These financial statements have been prepared in accordance with the charity's trust deed, the Charities Act 2011 and “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 (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used.
1.4 Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
1.5 Resources expended
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
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BERNARD AND JOYCE COLEMAN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 30 April 2021
1 Accounting policies
(Continued)
E xpenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity 's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled.
1.8 Fund structure
U nrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposed within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
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BERNARD AND JOYCE COLEMAN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 30 April 2021
1 Accounting policies
(Continued)
1.9 I nvestments
I nvestments in listed companies are initially recorded at cost and adjusted to their market value as per the London Stock Exchange closing price at the balance sheet date. All gains and losses whether realised or not are recognised in the Statement of Financial Activities.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | 2021 | 2020 | |
| £ | £ | £ | |
| Donations and gifts | 170,443 | 170,443 | 59,900 |
4 Investments
| Unrestricted | Total | Total | Total | |
|---|---|---|---|---|
| funds | 2021 | 2020 | ||
| £ | £ | £ | ||
| Income from listed investments | 5,153 | 5,153 | 8,738 | |
| Interest receivable | 76 | 76 | 145 | |
| 5,229 | 5,229 | 8,883 | ||
| Raising funds costs | ||||
| Unrestricted | Unrestricted | |||
| funds | funds | |||
| 2021 | 2020 | |||
| £ | £ | |||
| Investment management | 6,667 | 7,211 | ||
| 6,667 | 7,211 |
5 Raising funds costs
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BERNARD AND JOYCE COLEMAN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 30 April 2021
| 5 Raising funds costs 6 Charitable activities Coaching costs Grant funding of activities (see note 7) Share of support costs (see note 8) Share of governance costs For the year ended 30 April 2021 Unrestricted funds Endowment funds - designated For the year ended 30 April 2020 Unrestricted funds |
(Continued) 2021 2020 £ £ 18,001 22,889 95,000 44,500 7,172 5,677 686 660 120,859 73,726 120,859 - 120,859 73,726 73,726 |
(Continued) 2021 2020 £ £ 18,001 22,889 95,000 44,500 7,172 5,677 686 660 120,859 73,726 120,859 - 120,859 73,726 73,726 |
|---|---|---|
| 2020 £ 22,889 44,500 5,677 660 |
||
| 73,726 | ||
| 73,726 | ||
| 73,726 |
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BERNARD AND JOYCE COLEMAN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 30 April 2021
7 Grants payable
| Grants to institutions: Royal Hospital for Neuro-Disability Royal Marsden Cancer Charity Royal Theatrical Fund Royal Star and Garter Homes Sported Foundation Alzheimer's Society - Sport United against Dementia Arundel Castle Cricket Foundation AFC Wimbledon Foundation ENT Charity 9918 Charing Cross Hospital British Heart Foundation Bomber Command Association Battle of the Atlantic Memorial Surrey Cricket Board - Bedser Grant St George's Hospital Charity Yvonne Arnaud Theatre Support costs Support costs Governance costs £ £ Legal and professional fees 5,790 - Stationery 47 - Insurance 1,335 - Accountancy fees - 686 7,172 686 Analysed between Charitable activities 7,172 686 |
2021 £ 5,000 8,000 8,000 500 5,000 30,000 5,000 5,000 25,000 1,000 1,000 1,000 500 - - 95,000 2021 £ 5,790 47 1,335 686 7,858 7,858 |
2020 £ - - - - - - 5,000 5,000 25,000 1,000 1,000 1,000 500 5,000 1,000 |
|---|---|---|
| 44,500 | ||
| 2020 £ 5,077 83 517 660 |
||
| 6,337 | ||
| 6,337 |
8 Support costs
9 Trustees
None of the trustees (or any persons connected with them) received any remuneration or reimbursement of expenses during the year.
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BERNARD AND JOYCE COLEMAN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 30 April 2021
| 10 | Employees | ||
|---|---|---|---|
| The average monthly number of employees during the year was: | |||
| 2021 | 2020 | ||
| Number | Number | ||
| Total | - | - | |
| There were no employees whose annual remuneration was more than £60,000. | |||
| 11 | Net gains/(losses) on investments | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Revaluation of investments | 28,220 | (76,986) | |
| Gain on sale of investments | 48,327 | 3,999 | |
| 76,547 | (72,987) | ||
| 12 | Taxation | ||
| The charity is exempt from tax on its charitable activities. | |||
| 13 | Fixed asset investments | ||
| Listed | |||
| investments | |||
| £ | |||
| Cost or valuation | |||
| At 1 May 2020 | 459,755 | ||
| Additions | 296,661 | ||
| Valuation changes | 28,015 | ||
| Disposals | (276,789) | ||
| At 30 April 2021 | 507,642 | ||
| Carrying amount | |||
| At 30 April 2021 | 507,642 | ||
| At 30 April 2020 | 459,755 |
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BERNARD AND JOYCE COLEMAN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 30 April 2021
| 14 Debtors 2021 Amounts falling due within one year: £ Other debtors 621 15 Creditors: amounts falling due within one year 2021 £ Trade creditors 27,500 Accruals and deferred income 686 28,186 16 Analysis of net assets between funds Unrestricted funds £ Fund balances at 30 April 2021 are represented by: Investments 507,642 Current assets/(liabilities) 140,824 648,466 |
2020 £ 6,113 |
|---|---|
| 2020 £ 2,150 1,320 |
|
| 3,470 | |
| Total £ 507,642 140,824 |
|
| 648,466 |
17 Related party transactions
N o guarantees have been given or received.
During the year Colken Limited donated £150,000 (2020: £58,800) to the charity. Colken Limited is owned and controlled by the trustee Mr B Coleman OBE. Mr B Coleman made personal donations in the year of £20,443 (2020: £1,100). On 13 November 2021 Bernard Coleman was deceased.
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