The ofiver Morfand Charitable Trust Charity Number1076213 Unudited Financial Statements For The Year Ended 5 April 24
The Ollver mland Charltable Trust Year ended 5 Aprll 2024 Reference and Admlnlstrallve Informaffon Board of Trustees The ttustees at the date of this report and hol(fing office during the yeor were: Kate Lovell (Chaiman) Simon Rvtter Jennifer Pittard David Pittard Simon Pittard Charlotte Jones Eleanor Jaques lappointed 12 May 20231 Reglstered Charlty Number 1076213 Reglster•d Address Thomas's House stour Row Shaftest)vry DoT5et SP7 OQW Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Maifing Kent ME19 4JQ Inveslment Advlsers Evelyn Partners Group Limited 45 Gresham Street London EC2V 7BG Independent Examlners Hub Accountants Ltd Innovation House Wincombe Lane Shaftesbury Dorset SP7 8FG
The Ollver Morland Charltable Trust Year ended 5 Aprfl 2024 Relerence and Admlnlslrthe IntOTmaHon Index Page Annual report of the Trvstees Independent Examlners report statement of financlal aclivllles Balance shaet Notes to the accounts
The Olfver Morland Charftable Trust Year ended S Aprll 2024 Trustees Report The Trustees present their report and the unoudited financial statements of the Charity for Ihe year ended 5 April 2024. The financial statements have been prepared In accordance with the accounting policies set out in note I to the accounts and comply with the Charities Act 2011 and the Statement of Recommended Practice Accounting ond Reporting for Charities {FRS1021. The Chailty is constituted and govemed by a Declaration of Twst dated I l Jvly 1951 as amended by Deed and Declaration of Trust dafed 31 March 1999. Prfnclpal Object$ lor publlc benefll The principal objects of the Charity are to pay or apply the income of the twst fijnd and such parts of the capital thereof {which the Trustees shall raise as required by sale of the requisite part of the Iwst Fund), to or for such charifable institutions or charifable purposes and in such shares and proportlons as the settlor shall at any tlme or times and from time to lime appoint and after the death of the settlor as the Truslees shall from time to time in their absolute discretion determlne. Flnanclal report The Investment portfolio. now managed by Evelyn Partners Group Limited, has seen a small reduction in its valve due lo continued volatility in the world markets. The Truslees hove remained cautious in Iheir grants programme and looked to sustain their current level of awards. and are posltlve that grants can continue to be paid at around £1 00.CNJO per year. Report on Acllvltle$ durfng the year The trustees were able to maintaln the level of grants in 2023124 and it Is hoped that the performance of our portfolio will again enable us to continue the present level of grants. It Is hoped that our portfolio's performance will continue to enable us to reach our target of grants payable of £lOO.000. We continue to receive a significant number of new appeals but the trustees find it difficult to respond to new requests. Our current commitments take priority. Trustees. responslbllllles In respect of Ihe preparallon ol the Accounls The Trustees are requlred by Lcw to prepare financial statemenls for each ftnancial year which gNe a true and fair view of the state of affairs of the charfty for that period. In preparing those financial statements. the Trustees are required to: select suifable accounting policies and then apply them consistently: - make ]udgem8nts and estimates that are reasonable and prudent - prepare the financial statements on a going concem basis unless it Is approprlate to presume that the charity will continve in business. The Trustees are responsible for keeping Proper occounting records which disclose with reasonable accuracy at any time the financial position of the Charity. They ore olso responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other Irregularitles. Approval Thls report was approved by the Board of Trustees on .. nd signed on its behalf by: Kale Lovell Chalnnan Page I
Independent Examlnefs Report to the Truslees otThe Ollver Morland Charftable Tnt Chorlty Number 1076213 I report to the chority trustees on my examination of the accounts of the trust for the year ended 5 April 2024 which are set out on pages 3 to 6. RespecNve responslbllMes ol trvstees and examlner As the charity's trustees. you are responsible for the preparation of the accounts in accordance wilh the requirements of the Charities Acl 2011 I'the Act"). I report in respect of my examlnation of the Tnjst's accounts carried out under sectlon 145 of the 2011 Act and in carying out my examination. I have followed all the appllcable Directions given by the Charity Commission under section l 4515) Ib) of the Act. Independent •xamlner'$ statement I have completed my examinotion. I confmi that no material matters have come to my attentlon In connection with the examination which gives me cause to belleve that in. any material respect: the accounting records were not kept In accordance with section 130 of tha Charities Act: or the accovnts dld not accord wilh the accounting records; or the accounts did nol comply with the applicable requirements conceming the form and content of accounts set out in the Charilies (Accounts and Reports) Regulations 2CX)8 other than any requirement thal the accounts glve a 'trve and folr, view whlch is not a matter considered as port of an independent examinotion. I have no concem5 and have come across no other matters in connection with the examination to which attenlion should be drawn in this report In order to enable a proper understandlng of the accounts lo be reached. Paul Stacey FCA For and on behall of Hub Accountants Ltd Chartered Accovnlants Innovalion House Wincombe Lane Shaftesbury Dorset SP7 8FG Signed: Dale: 2024 Page 2
The Ollver Morland Charltable Trust Slatement of Flnanclal Acllvllles Year ended 5 Aprll 2024 Unreslrlcled Funds Notes 2024 2023 Income Investmenl income 43,475 39,084 43,475 39,084 Expendllure Charitable activities Support costs 102.4CXJ 20,322 105.618 20,053 122,722 125,671 Net outgolng resources {79.247) (86,587) Olher galns and losses Golns on Investments 229.284 13,644 Net movem•nt In lunds 150,037 (72,943) Funds brought forward 2,547,567 2,620,510 Funds Carrled forward 2,697.61M 2,547,567 Page 3
The Ollver Morfand Charftable Trust Balance Sheet as at 5 April 2024 Unreslrlcted Funds Note 2023 Flxed Assets Investmenls 1693.388 2545.381 CuThent Assets Cash at bank Accrued income 4.032 1.132 5.164 3.072 3.110 CuThent LlabllHles Accnjats 1948) (924) Net cvrrenl assets 4216 2,186 Net Assets 2.697.604 2.547.567 Nel Assels Fund balances Unrestricted functs 2.697.604 2.547,567 On behalf of the Trustees of The Oliver Morfand Charitable Trusl we approve the financial statements set out on pages 3 10 6. Simon Rutter TTUStee Date Page 4
The Ollver Morfand Charltable Trust Notes to the flnanclal statements Year ended 5 Aprll 2024 Prlnclpal Accountlng Pollcles Ba$1$ of preparallon ol accounts These accounls have been prepared under the historical cost conventionlexcept thal Investments are shown at market value) in accordance with the Statement of Recommended Practice. "Accounting ond Reporting by Charities" preparing their accounts in accordance with the Flnancial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective January 20191 and the Charities Act 2011. The Charity has laken advantage of the exemption in Financial Reporling Stondard I from the requirement to produce a cash flow statement on the grounds that It qualifies as a small charity. The presentation currency of the financial statements is Pound Sterling. The charlty meets the definition of a publlc benefit entity under FRS102. Fund Accounllng Unrestricted funds comprise those funds which th8 Trustees are free to use for any purpose in furtherance of the charitable objectNes. There are no designated or restricted funds. Incomlng Resources All incoming resources are recognised once Ihe funds have been received in the Charily's bank account. Expendllure Liabilities are recognised and expended as soon os there is a legal and constructive obligation committing the Charity to the expenditure. All expenditure is Included on an accruals basis and hos been classified under headings that aggregate all costs related to that category. Govemance cost comprise all costs involving the public accountability of the Charity and its compliance wilh regulation and good practice. These costs include costs relating to accounlancy services. Costs of charitable actlvlties include costs directly associated wlth the charitable activities of the Charity. Investments Investments ore shown at market value at the balance sheet date. The statement of linancial activities Includes the net gains and losses arising on revaluation and disposals throughout the year. The investments are held on the Charities behalf by Evelyn Partners Group Limited are to provide an investment return for the Charity. Investmenl Income 2024 2023 Evelyn Partners investment income Bank interest recelved 43,452 23 43.475 39.061 22 39.084 Page 5
The Olfver Morfand Charftable Tllt Notes to the Ilnanclal stalements (conllnued) Year Ended 5 Aprll 2024 Chatllable aclMlle$ 2024 2023 Grants 102.400 105.618 Support Costs 2024 2023 Investment charges Bank charges Twste&s expenses Meeting expenses Subscriptions Independent examination fees 18,637 89 288 262 98 948 20.322 18,532 99 282 217 924 20.053 Inve51ments 2024 2023 Market valve brought forward Additions Disposals Unrealised gainslllosses) on investments Reafised gains on investments 2.485.859 521,738 1557.611) 159,015 70,269 2.679,270 2,446.804 217.966 1192,5551 139.5781 53,222 2,485,859 Cash held 14.118 59,522 Martet value carried forward 2.693.388 2,545.381 Movement In Ivnds 2024 2023 At 6 April 2023 Net movement in funds 2.547,567 150.037 2,620,510 {72943) Al S April 2024 2.697.604 2.547,567 Trustees rernuneratjon and expenses During the current and previous year, no remuneration was payable to the Trustees by the charity. Trustees claimed back mlleage costs to attend meetings tolalling £288 12023: £2821. Relaled party fransactlons There were no related party transactions during the current or previous year. Page 6