``` REGISTERED CHARITY NUMBER: 1076792 ``` ``` Report of the Trustees and ``` ``` Unaudited Financial Statements for the Year Ended 5 April 2021 ``` ``` for ``` ``` The David and Jayne Paterson Educational Trust ``` ``` A J Bennewith FCA, FCPA, FFA, FFTA, FIPA, DChA, FRSA 3 Wey Court Mary Road Guildford Surrey GU1 4QU ``` ``` The David and Jayne Paterson Educational Trust ``` ``` Contents of the Financial Statements for the Year Ended 5 April 2021 ``` ||**`Page`**| |---|---| |**`Report of the Trustees`**|`1 to 3`| |**`Independent Examiner's Report`**|`4`| |**`Statement of Financial Activities`**|`5`| |**`Balance Sheet`**|`6`| |**`Cash Flow Statement`**|`7`| |**`Notes to the Cash Flow Statement`**|`8`| |**`Notes to the Financial Statements`**|`9 to 13`| ``` The David and Jayne Paterson Educational Trust ``` ## `Report of the Trustees` ## `for the Year Ended 5 April 2021` ``` Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended5April2021. The trusteeshaveadoptedthe provisionsof AccountingandReportingby Charities:Statementof Recommended Practice applicableto charitiespreparingtheiraccountsin accordancewiththe FinancialReportingStandardapplicablein the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ``` ## **`OBJECTIVES AND ACTIVITIES`** ## **`Objectives and aims`** ``` The Trustees shall hold the capitaland the income of the Trust Fund upon charitabletrusts to apply the income and all orsuchpartorpartsofthecapitalthereofforortowardsthepromotionofeducationandinparticularbut not restricted to: ``` - `(a) the promotion of the study of law;` - `(b) the awarding of scholarships, exhibitions or bursaries tenable at any university or other UK educational institution approved by the Trustees to residents in the People's Republic of China to enable them to study law;` - `(c) the awarding of grants or maintenance allowances to individuals to enable them to travel in furtherance of their legal education.` ## **`Activities`** ``` SincetheestablishmentoftheTrust,theTrusteeshavefulfilledthecharitableobjectsprincipallybyestablishing a scholarshipwhichis knownas The DavidandJaynePatersonScholarship.This was originallyto enableethnic Chinese studentstostudylawatOxfordUniversityforanundergraduatedegree,butwitheffectfromSeptember 2010, studentswillinsteadbegiventheopportunitytoparticipateintheoneyearM.Jurprogramme.Allapplications for scholarshipsareassessedinitiallybyaNominatingCommitteeoftheTrusteeswhothenmakerecommendations on which the Trustees base their decisions.In awardingscholarships,regard is taken not only to the candidate's academic activitiesbutalsotopersonalqualitiesandcharacterwithparticularregardtotheextenttowhichtheapplicant has qualitiesof leadershipand fellowship,achievementsin non-curricularactivities,communityinvolvementand activities and other attributeswhich in the opinionof the Trustees indicatethat the applicantis likely to become an outstanding citizenwith a commitmentto the legal professionin the People's Republicof China.Throughoutthe year, the Trustees receivedrequestsforscholarshipsfromstudentswhodidnotmeetthecurrentguidelinesandtheserequests for funds have received an appropriate reply. ``` ``` WhenplanningtheactivitiestheTrusteeshaveconsideredtheCharityCommission'sguidanceonpublicbenefit and, in particular, the specific guidance on charities for the promotion of education. ``` ## **`ACHIEVEMENT AND PERFORMANCE`** ``` The Trusteescurrentlysponsorstudentsfrom the ChinaUniversityof PoliticalScienceandLaw to undertake one-year M.Jur. programmes. During 2020/21 the Trustees sponsored four students (see note 5 for details). ``` ## **`FINANCIAL REVIEW`** ## **`Financial position`** ``` The trust'sincomefor the year was £35,150(2020:£533,000),the reductionover 2020 beingdue to the fact that last year's incomeincludedthe transferto the Trust of the freeholdof a propertyby the foundertrustee,at a valuation of £500,000.Expenditurefor the year was £36,410(2020: £33,510)includingdonationsof £35,000(2020: £30,000), and legal and accountancy fees and other expenses of £1,410 (2020: £3,510). ``` ``` Totalfundsfortheyear,whichcompriseRestrictedFundsonly,startedtheyearwithabalanceof£500,706. After deducting the loss for the year of £1,260, the balance to be carried forward is £499,446. ``` ``` Page 1 ``` ``` The David and Jayne Paterson Educational Trust ``` ## `Report of the Trustees for the Year Ended 5 April 2021` ## **`FINANCIAL REVIEW`** ## **`Reserves policy`** ``` TheTrustisfundedonanannualbasisbytheFounderTrustee,DavidPaterson,andtheTrusteesdonot therefore haveverymuchinthewayoffinancialreserves.Therefore,thereis a riskthatthetrusteesmightinanyoneyear be leftwithnofundstodistribute.However,theTrusteesconsiderthatthisriskisnotlikelytomaterialisedueto the continuedgenerosityof the FounderTrustee. The FounderTrustee intendsto make provisionfor the Trust to continue tobefunded,andsofortheTrusteestocontinuetobeabletopaytheirexistingcommitmentsandfund new scholarships, after his death. ``` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Governing document`** ``` Thecharityiscontrolledbyitsgoverningdocument,adeedoftrustdated15March1999andconstitutes an unincorporated charity. ``` ## **`Recruitment and appointment of new trustees`** ``` The powerof appointingfuturetrusteesis exercisableby the FounderTrusteeduringhis lifetimeandsubject thereto future Trustees may be appointed by resolution of the Trustees. ``` ## **`Risk management`** ``` As a grant-makingcharity,the Trustees do not feel that the Trust is open to any significantrisks. The risk of fraudulent applications is mitigated by the Trustees' knowledge of the recipients. ``` ## **`REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number`** ``` 1076792 ``` ## **`Principal address`** ``` c/o Moore Barlow LLP 2, The Green Richmond London TW9 1PL ``` ## **`Trustees`** ``` D F J Paterson Founder Trustee M C J Paterson Baron A A M Fraser (resigned 6.2.21) A J Sherbrooke ``` ## **`Independent Examiner`** ``` A J Bennewith FCA, FCPA, FFA, FFTA, FIPA, DChA, FRSA 3 Wey Court Mary Road Guildford Surrey GU1 4QU ``` ## **`Solicitors`** ``` Moore Barlow 2, The Green Richmond London TW9 1PL ``` ``` Page 2 ``` ``` The David and Jayne Paterson Educational Trust ``` ``` Report of the Trustees for the Year Ended 5 April 2021 ``` ## **`REFERENCE AND ADMINISTRATIVE DETAILS Bankers`** ``` Weatherbys Private Bank Sanders Road Wellingborough Northamptonshire NN8 4BX ``` ## **`INVESTMENT POWERS`** ``` Powers under the trust instrument to invest as absolute beneficial owners and to use nominees. ``` ``` Approved by order of the board of trustees on 14 March 2022 and signed on its behalf by: ``` ``` D F J Paterson - Trustee ``` ``` Page 3 ``` ``` Independent Examiner's Report to the Trustees of The David and Jayne Paterson Educational Trust ``` ## **`Independent examiner's report to the trustees of The David and Jayne Paterson Educational Trust`** ``` I reportto the charitytrusteeson my examinationof the accountsof The DavidandJaynePatersonEducational Trust (the Trust) for the year ended 5 April 2021. ``` ## **`Responsibilities and basis of report`** ``` AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordancewith the requirements of the Charities Act 2011 ('the Act'). ``` ``` I reportinrespectof my examinationof theTrust'saccountscarriedoutundersection145of theActandin carrying out my examinationI have followedall applicableDirectionsgiven by the CharityCommissionundersection 145(5)(b) of the Act. ``` ## **`Independent examiner's statement`** ``` I havecompletedmyexamination.I confirmthatnomaterialmattershavecometomyattentioninconnection with the examination giving me cause to believe that in any material respect: ``` `1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or` `2. the accounts do not accord with those records; or` `3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.` ``` Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. ``` ``` A J Bennewith FCA, FCPA, FFA, FFTA, FIPA, DChA, FRSA 3 Wey Court Mary Road Guildford Surrey GU1 4QU ``` ``` Date: ............................................. ``` ``` Page 4 ``` ``` The David and Jayne Paterson Educational Trust ``` ## `Statement of Financial Activities` ## `for the Year Ended 5 April 2021` |`Unrestricted`
`fund`
`Notes`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`2`
`-`
`Investment income`
`3`
`-`
**`Total`**
`-`
**`EXPENDITURE ON`**
**`Charitable activities`**
`4`
`Grants payable`
`-`
`Administrative costs`
`-`
**`Total`**
`-`
**`NET INCOME/(EXPENDITURE)`**
`-`
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
`-`
**`TOTAL FUNDS CARRIED FORWARD`**
`-`|`Restricted`
`fund`
`£`
`35,000`
`150`
`35,150`
`35,000`
`1,410`
`36,410`
`(1,260)`
`500,706`
`499,446`|`5.4.21`
`Total`
`funds`
`£`
`35,000`
`150`
`35,150`
`35,000`
`1,410`
`36,410`
`(1,260)`
`500,706`
`499,446`|`5.4.20`
`Total`
`funds`
`£`
`533,000`
`-`| |---|---|---|---| ||||`533,000`
`30,000`
`3,510`| ||||`33,510`| ||||`499,490`
`1,216`| ||||`500,706`| ``` The notes form part of these financial statements ``` ``` Page 5 ``` ``` The David and Jayne Paterson Educational Trust ``` ## `Balance Sheet` ## `5 April 2021` |`Notes`
**`FIXED ASSETS`**
`Investment property`
`8`
**`CURRENT ASSETS`**
`Cash at bank`
**`CREDITORS`**
`Amounts falling due within one year`
`9`
**`NET CURRENT ASSETS`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`NET ASSETS`**
**`FUNDS`**
`10`
`Restricted funds`
**`TOTAL FUNDS`**|`Unrestricted`
`fund`
`£`
`-`
`-`
`-`
`-`
`-`
`-`|`Restricted`
`fund`
`£`
`500,000`
`1,576`
`(2,130)`
`(554)`
`499,446`
`499,446`|`5.4.21`
`Total`
`funds`
`£`
`500,000`
`1,576`
`(2,130)`
`(554)`
`499,446`
`499,446`
`499,446`
`499,446`|`5.4.20`
`Total`
`funds`
`£`
`500,000`
`1,666`
`(960)`
`706`
`500,706`
`500,706`
`500,706`
`500,706`| |---|---|---|---|---| ``` ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon14March2022 and were signed on its behalf by: ``` ``` D F J Paterson - Trustee ``` ``` The notes form part of these financial statements ``` ``` Page 6 ``` ``` The David and Jayne Paterson Educational Trust ``` ## `Cash Flow Statement` |`for the Year Ended 5 April 2021`
`5.4.21`
`Notes`
`£`
**`Cash flows from operating activities`**
`Cash generated from operations`
`1`
`(90)`
`Net cash (used in)/provided by operating activities`
`(90)`
**`Cash flows from investing activities`**
`Purchase of investment property`
`-`
`Net cash provided by/(used in) investing activities`
`-`
**`Change in cash and cash equivalents in the`**
**`reporting period`**
`(90)`
**`Cash and cash equivalents at the beginning`**
**`of the reporting period`**
`1,666`
**`Cash and cash equivalents at the end of`**
**`the reporting period`**
`1,576`|`5.4.20`
`£`
`499,970`
`499,970`
`(500,000)`
`(500,000)`
`(30)`
`1,696`
`1,666`| |---|---| ``` The notes form part of these financial statements ``` ``` Page 7 ``` ``` The David and Jayne Paterson Educational Trust ``` ## `Notes to the Cash Flow Statement` ## `for the Year Ended 5 April 2021` |**`1.`**|**`RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW`**|**`FROM OPERATING ACTIVITIES`**|**`FROM OPERATING ACTIVITIES`**| |---|---|---|---| |||`5.4.21`|`5.4.20`| |||`£`|`£`| ||**`Net (expenditure)/income for the reporting period (as per the`**||| ||**`Statement of Financial Activities)`**|`(1,260)`|`499,490`| ||**`Adjustments for:`**||| ||`Increase in creditors`|`1,170`|`480`| ||**`Net cash (used in)/provided by operations`**|`(90)`|`499,970`| ## `2.` **`ANALYSIS OF CHANGES IN NET FUNDS`** ||`At 6.4.20`|`Cash flow`|`At 5.4.21`| |---|---|---|---| ||`£`|`£`|`£`| |**`Net cash`**|||| |`Cash at bank`|`1,666`|`(90)`|`1,576`| ||`1,666`|`(90)`|`1,576`| |**`Total`**|`1,666`|`(90)`|`1,576`| ``` The notes form part of these financial statements ``` ``` Page 8 ``` ``` The David and Jayne Paterson Educational Trust ``` ``` Notes to the Financial Statements for the Year Ended 5 April 2021 ``` ## **`1. ACCOUNTING POLICIES`** ## **`Basis of preparing the financial statements`** ``` Thefinancialstatementsof thecharity,whichis a publicbenefitentityunderFRS 102,havebeenprepared in accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. ``` ## **`Income`** ``` All incomeis recognisedin the Statementof FinancialActivitiesoncethe charityhasentitlementto the funds, it is probable that the income will be received and the amount can be measured reliably. ``` ## **`Expenditure`** ``` Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement andtheamountof theobligationcanbe measuredreliably.Expenditureis accountedforonanaccruals basis andhas been classifiedunderheadingsthataggregateall costrelatedto the category.Wherecostscannot be directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the use of resources. ``` ``` Grants offered subject to conditionswhich have not been met at the year end date are noted as a commitment but not accrued as expenditure. ``` ## **`Investment property`** ``` Investmentpropertyis shownatmostrecentvaluation.Anyaggregatesurplusordeficitarisingfrom changes in fair value is recognised in the Statement of Financial Activities. ``` ## **`Taxation`** ``` The charity is exempt from tax on its charitable activities. ``` ## **`Fund accounting`** ``` Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. ``` ``` Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. ``` ``` Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial statements. ``` ``` continued... ``` ``` Page 9 ``` ``` The David and Jayne Paterson Educational Trust ``` ``` Notes to the Financial Statements - continued for the Year Ended 5 April 2021 ``` ## **`2. DONATIONS AND LEGACIES`** ## **`Donations received`** |`Donations from Founder Trustee- for scholarships and legal fees`
`Donation from Founder Trustee- transfer of freehold property at valuation`
**`3.`**
**`INVESTMENT INCOME`**
`Rents received`
**`4.`**
**`CHARITABLE ACTIVITIES COSTS`**
**`NET MOVEMENT IN FUNDS`**
`The net movement in funds is stated after charging:`
`Legal and professional fees`
`Independent Examiner's remuneration`
**`5.`**
**`GRANTS PAYABLE`**
`Grants payable`
`The total grants paid to individuals during the year was as follows:`
`Scholarship Grants`
**`Scholarship Payments`**
`Donation to Mr Shiyi Li`
`Donation to Miss Suhua Zhou`
`Donation to Mr Zhiguan Xu`
`Donation to Miss Shasha Sun`
`Donation to Miss Nan Xiang`
`Donation to Miss Yu Xing`|||`5.4.21`|`5.4.21`||`5.4.20`
`£`
`33,000`
`500,000`
`533,000`
`5.4.20`
`£`
`-`|`5.4.20`
`£`
`33,000`
`500,000`
`533,000`
`5.4.20`
`£`
`-`|`5.4.20`
`£`
`33,000`
`500,000`
`533,000`
`5.4.20`
`£`
`-`| |---|---|---|---|---|---|---|---|---| ||||`£`|||||| ||||`35,000`|||||| ||||`-`|||||| |||||||||| |||||||||| ||||`35,000`|||||| |||||||||| ||||`5.4.21`
`£`
`150`|||||| |||||`5.4.21`||||`5.4.20`| |||||`£`||||`£`| |||||||||| |||||`690`||||`3,000`| |||||`480`||||`480`| |||||||||| ||||`5.4.21`
`£`
`35,000`
`5.4.21`
`£`
`35,000`||||`5.4.20`
`£`
`30,000`
`5.4.20`
`£`
`30,000`
`5.4.20`
`£`
`-`
`-`
`-`
`10,000`
`10,000`
`10,000`
`30,000`|| ||||`5.4.21`|||||| ||||`£`|||||| ||||`10,000`|||||| ||||`10,000`|||||| ||||`10,000`|||||| ||||`5,000`|||||| ||||`-`|||||| ||||`-`|||||| |||||||||| |||||||||| ||||`35,000`|||||| |||||||||| ``` continued... ``` ``` Page 10 ``` ``` The David and Jayne Paterson Educational Trust ``` ## `Notes to the Financial Statements - continued for the Year Ended 5 April 2021` ## **`6. TRUSTEES' REMUNERATION AND BENEFITS`** ``` There were no trustees'remunerationor other benefitsfor the year ended 5 April 2021 nor for the year ended 5 April 2020. ``` ## **`Trustees' expenses`** ``` There were no trustees' expenses paid for the year ended 5 April 2021 nor for the year ended 5 April 2020. ``` ## **`7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`** ## **`8.`** |`Unrestricted`
`fund`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`-`
**`EXPENDITURE ON`**
**`Charitable activities`**
`Grants payable`
`-`
`Administrative costs`
`-`
**`Total`**
`-`
**`NET INCOME`**
`-`
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
`-`
**`TOTAL FUNDS CARRIED FORWARD`**
`-`
**`INVESTMENT PROPERTY`**
**`FAIR VALUE`**
`At 6 April 2020`
`and 5 April 2021`
**`NET BOOK VALUE`**
`At 5 April 2021`
`At 5 April 2020`|`Restricted`
`fund`
`£`
`533,000`
`30,000`
`3,510`
`33,510`
`499,490`
`1,216`
`500,706`|`Total`
`funds`
`£`
`533,000`
`30,000`
`3,510`
`33,510`
`499,490`
`1,216`
`500,706`
`£`
`500,000`
`500,000`
`500,000`|`Total`
`funds`
`£`
`533,000`
`30,000`
`3,510`| |---|---|---|---| ||||`33,510`| ||||`499,490`
`1,216`| ||||`500,706`| ``` The freeholdinvestmentpropertyat 44, Palace GardensTerrace,London,W8 4RR was transferredto the Trust duringtheyearended5April2020atavaluationof£500,000bythefounderTrustee.Thetrustees consider the fair value of the property at 5 April 2021 to be £500,000. ``` ``` continued... ``` ``` Page 11 ``` ``` The David and Jayne Paterson Educational Trust ``` ## `Notes to the Financial Statements - continued` ## `for the Year Ended 5 April 2021` ## **`9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`** |`Other creditors`
**`10.`**
**`MOVEMENT IN FUNDS`**
`At 6.4.20`
`£`
**`Restricted funds`**
`Restricted fund for educational use`
`500,706`
**`TOTAL FUNDS`**
`500,706`
`Net movement in funds, included in the above are as follows:`
`Incoming`
`resources`
`£`
**`Restricted funds`**
`Restricted fund for educational use`
`35,150`
**`TOTAL FUNDS`**
`35,150`
**`Comparatives for movement in funds`**
`At 6.4.19`
`£`
**`Restricted funds`**
`Restricted fund for educational use`
`1,216`
**`TOTAL FUNDS`**
`1,216`
`Comparative net movement in funds, included in the above are as follows:`
`Incoming`
`resources`
`£`
**`Restricted funds`**
`Restricted fund for educational use`
`533,000`
**`TOTAL FUNDS`**
`533,000`|`5.4.21`
`5.4.20`
`£`
`£`
`2,130`
`960`
`Net`
`movement`
`At`
`in funds`
`5.4.21`
`£`
`£`
`(1,260)`
`499,446`
`(1,260)`
`499,446`
`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
`(36,410)`
`(1,260)`
`(36,410)`
`(1,260)`
`Net`
`movement`
`At`
`in funds`
`5.4.20`
`£`
`£`
`499,490`
`500,706`
`499,490`
`500,706`
`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
`(33,510)`
`499,490`
`(33,510)`
`499,490`| |---|---| ``` continued... ``` ``` Page 12 ``` ``` The David and Jayne Paterson Educational Trust ``` ## `Notes to the Financial Statements - continued for the Year Ended 5 April 2021` ## **`10. MOVEMENT IN FUNDS - continued`** ``` A current year 12 months and prior year 12 months combined position is as follows: ``` |**`Restricted funds`**
`Restricted fund for educational use`
**`TOTAL FUNDS`**|`At 6.4.19`
`£`
`1,216`
`1,216`|`Net`
`movement`
`in funds`
`£`
`498,230`
`498,230`|`At`
`5.4.21`
`£`
`499,446`| |---|---|---|---| ||||`499,446`| ``` A currentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above are as follows: ``` ||`Incoming`|`Resources`|`Movement`| |---|---|---|---| ||`resources`|`expended`|`in funds`| ||`£`|`£`|`£`| |**`Restricted funds`**|||| |`Restricted fund for educational use`|`568,150`|`(69,920)`|`498,230`| |**`TOTAL FUNDS`**|`568,150`|`(69,920)`|`498,230`| ## **`11. OTHER FINANCIAL COMMITMENTS`** ``` The charityhadno grantcommitmentsorcontingentliabilitiesat the balancesheet dateandnorhadit given any guarantees or indemnities at the balance sheet date. ``` ## **`12. RELATED PARTY DISCLOSURES`** ``` As disclosedin note2, the foundertrustee,Mr DavidPaterson,madedonationstotalling£35,000to the Trust during the year. ``` ``` Page 13 ```