``` REGISTERED CHARITY NUMBER: 1076792 ``` ``` Report of the Trustees and ``` ``` Unaudited Financial Statements for the Year Ended 5 April 2024 ``` ``` for ``` ``` The David and Jayne Paterson Educational Trust ``` ``` A J Bennewith FCA, FCPA, FFA, FFTA, FIPA, DChA, FRSA Upper Ground Floor 18 Farnham Road Guildford Surrey GU1 4XA ``` ``` The David and Jayne Paterson Educational Trust ``` ``` Contents of the Financial Statements for the Year Ended 5 April 2024 ``` ||**`Page`**| |---|---| |**`Report of the Trustees`**|`1 to 3`| |**`Independent Examiner's Report`**|`4`| |**`Statement of Financial Activities`**|`5`| |**`Balance Sheet`**|`6`| |**`Notes to the Financial Statements`**|`7 to 11`| ``` The David and Jayne Paterson Educational Trust ``` ## `Report of the Trustees` ## `for the Year Ended 5 April 2024` ``` Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended5April2024. 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 2023/24, the Trustees sponsored two students (2022/23: 2) (see note 5 for details). ``` ## **`FINANCIAL REVIEW`** ## **`Financial position`** ``` Thetrust'sincomefortheyearwas£76,200(2023:£31,000).Expenditurefortheyearwas£78,460(2023: £33,045) includingdonationsof £70,000(2023:£30,000),andlegalandaccountancyfees andotherexpensesof £8,460 (2023: £3,045). ``` ``` Totalfundsfortheyear,whichcompriseRestrictedFundsonly,startedtheyearwithabalanceof£497,357. After deducting the loss for the year of £2,260, the balance to be carried forward is £495,097. ``` ## **`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. ``` ``` Page 1 ``` ``` The David and Jayne Paterson Educational Trust ``` ``` Report of the Trustees for the Year Ended 5 April 2024 ``` ## **`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 Lee Bolton Monier-Williams 1 The Sanctuary London SW1P 3JT ``` ## **`Trustees`** ``` D F J Paterson Founder Trustee M C J Paterson A J Sherbrooke ``` ## **`Independent Examiner`** ``` A J Bennewith FCA, FCPA, FFA, FFTA, FIPA, DChA, FRSA Upper Ground Floor 18 Farnham Road Guildford Surrey GU1 4XA ``` ## **`Solicitors`** ``` Lee Bolton Monier-Williams Solicitors 1 The Sanctuary London SW1P 3JT ``` ## **`Bankers`** ``` Wise Payments Limited 56 Shoreditch High Street London E1 6JJ ``` ## **`INVESTMENT POWERS`** ``` Powers under the trust instrument to invest as absolute beneficial owners and to use nominees. ``` ``` Page 2 ``` ``` The David and Jayne Paterson Educational Trust ``` ## `Report of the Trustees for the Year Ended 5 April 2024` ``` Approved by order of the board of trustees on ............................................. 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 2024. ``` ## **`Responsibilities and basis of report`** ``` AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordancewith the requirements of the Charities Act 2011 ('the Act'). ``` ``` I reportin respectof my examinationof the Trust'saccountscarriedoutunderSection145 of the Act andin 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 Upper Ground Floor 18 Farnham Road Guildford Surrey GU1 4XA ``` ``` Date: ............................................. ``` ``` Page 4 ``` ``` The David and Jayne Paterson Educational Trust ``` ## `Statement of Financial Activities` ## `for the Year Ended 5 April 2024` |`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`
`£`
`75,800`
`400`
`76,200`
`70,000`
`8,460`
`78,460`
`(2,260)`
`497,357`
`495,097`|`5.4.24`
`Total`
`funds`
`£`
`75,800`
`400`
`76,200`
`70,000`
`8,460`
`78,460`
`(2,260)`
`497,357`
`495,097`|`5.4.23`
`Total`
`funds`
`£`
`31,000`
`-`
`31,000`
`30,000`
`3,045`
`33,045`
`(2,045)`
`499,402`
`497,357`| |---|---|---|---| ``` The notes form part of these financial statements ``` ``` Page 5 ``` ``` The David and Jayne Paterson Educational Trust ``` ## `Balance Sheet` ## `5 April 2024` |`Unrestricted`
`fund`
`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`**|`Restricted`
`fund`
`£`
`500,000`
`1,500`
`(6,403)`
`(4,903)`
`495,097`
`495,097`|`5.4.24`
`Total`
`funds`
`£`
`500,000`
`1,500`
`(6,403)`
`(4,903)`
`495,097`
`495,097`
`495,097`
`495,097`|`5.4.23`
`Total`
`funds`
`£`
`500,000`
`-`
`(2,643)`
`(2,643)`
`497,357`
`497,357`
`497,357`
`497,357`| |---|---|---|---| ``` ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on ............................................. 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 ``` ``` Notes to the Financial Statements for the Year Ended 5 April 2024 ``` ## **`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 7 ``` ``` The David and Jayne Paterson Educational Trust ``` ``` Notes to the Financial Statements - continued for the Year Ended 5 April 2024 ``` ## **`2. DONATIONS AND LEGACIES`** |**`Donations received`**
`Donations from Founder Trustee- for scholarships and legal fees`
**`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`
**`School programme Payments`**
`Donation to The University of Oxford`
**`Scholarship Payments`**
`Donation to Tingyu Xu`
`Donation to Ziyu Hu`
`Donation to Hu Boxiang`
`Donation to Li Xianshu`|||||||`5.4.23`
`£`
`31,000`
`5.4.23`
`£`
`-`|`5.4.23`
`£`
`31,000`
`5.4.23`
`£`
`-`| |---|---|---|---|---|---|---|---|---| ||||`5.4.24`|||||| ||||`£`|||||| ||||`65,800`|||||| |||||||||| ||||`5.4.24`
`£`
`400`|||||| |||||`5.4.24`||||`5.4.23`| |||||`£`||||`£`| |||||||||| |||||`7,500`||||`452`| |||||`960`||||`2,040`| |||||||||| ||||`5.4.24`
`£`
`70,000`|||||| ||||`5.4.24`|||||| ||||`£`|||||| ||||`40,000`|||||| |||||||||| |||||||||| ||||`40,000`|||||| |||||||||| |||||||||| ||||`5.4.24`|||||| ||||`£`|||||| ||||`-`|||||| ||||`-`|||||| ||||`15,000`|||||| ||||`15,000`|||||| |||||||||| |||||||||| ||||`30,000`|||||| |||||||||| ``` continued... ``` ``` Page 8 ``` ``` The David and Jayne Paterson Educational Trust ``` ## `Notes to the Financial Statements - continued for the Year Ended 5 April 2024` ## **`6. TRUSTEES' REMUNERATION AND BENEFITS`** ``` There were no trustees'remunerationor other benefitsfor the year ended 5 April 2024 nor for the year ended 5 April 2023. ``` ## **`Trustees' expenses`** ``` There were no trustees' expenses paid for the year ended 5 April 2024 nor for the year ended 5 April 2023. ``` ## **`7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`** |`Unrestricted`
`fund`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`-`
**`EXPENDITURE ON`**
**`Charitable activities`**
`Grants payable`
`-`
`Administrative costs`
`-`
**`Total`**
`-`
**`NET INCOME/(EXPENDITURE)`**
`-`
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
`-`
**`TOTAL FUNDS CARRIED FORWARD`**
`-`
**`8.`**
**`INVESTMENT PROPERTY`**
**`FAIR VALUE`**
`At 6 April 2023`
`and 5 April 2024`
**`NET BOOK VALUE`**
`At 5 April 2024`
`At 5 April 2023`|`Restricted`
`fund`
`£`
`31,000`
`30,000`
`3,045`
`33,045`
`(2,045)`
`499,402`
`497,357`|`Total`
`funds`
`£`
`31,000`
`30,000`
`3,045`
`33,045`
`(2,045)`
`499,402`
`497,357`
`£`
`500,000`
`500,000`
`500,000`| |---|---|---| ``` 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 2024 to be £500,000 (2023: £500,000). ``` ``` continued... ``` ``` Page 9 ``` ``` The David and Jayne Paterson Educational Trust ``` ## `Notes to the Financial Statements - continued` ## `for the Year Ended 5 April 2024` ## **`9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`** |`Other creditors`
**`10.`**
**`MOVEMENT IN FUNDS`**
`At 6.4.23`
`£`
**`Restricted funds`**
`Restricted fund for educational use`
`497,357`
**`TOTAL FUNDS`**
`497,357`
`Net movement in funds, included in the above are as follows:`
`Incoming`
`resources`
`£`
**`Restricted funds`**
`Restricted fund for educational use`
`76,200`
**`TOTAL FUNDS`**
`76,200`
**`Comparatives for movement in funds`**
`At 6.4.22`
`£`
**`Restricted funds`**
`Restricted fund for educational use`
`499,402`
**`TOTAL FUNDS`**
`499,402`
`Comparative net movement in funds, included in the above are as follows:`
`Incoming`
`resources`
`£`
**`Restricted funds`**
`Restricted fund for educational use`
`31,000`
**`TOTAL FUNDS`**
`31,000`|`5.4.24`
`5.4.23`
`£`
`£`
`6,403`
`2,643`
`Net`
`movement`
`At`
`in funds`
`5.4.24`
`£`
`£`
`(2,260)`
`495,097`
`(2,260)`
`495,097`
`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
`(78,460)`
`(2,260)`
`(78,460)`
`(2,260)`
`Net`
`movement`
`At`
`in funds`
`5.4.23`
`£`
`£`
`(2,045)`
`497,357`
`(2,045)`
`497,357`
`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
`(33,045)`
`(2,045)`
`(33,045)`
`(2,045)`| |---|---| ``` continued... ``` ``` Page 10 ``` ``` The David and Jayne Paterson Educational Trust ``` ## `Notes to the Financial Statements - continued for the Year Ended 5 April 2024` ## **`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 6.4.22`
`£`
`499,402`
`499,402`|`Net`
`movement`
`in funds`
`£`
`(4,305)`
`(4,305)`|`At`
`5.4.24`
`£`
`495,097`| |---|---|---|---| ||||`495,097`| ``` A currentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above are as follows: ``` ||`Incoming`|`Resources`|`Movement`| |---|---|---|---| ||`resources`|`expended`|`in funds`| ||`£`|`£`|`£`| |**`Restricted funds`**|||| |`Restricted fund for educational use`|`107,200`|`(111,505)`|`(4,305)`| |**`TOTAL FUNDS`**|`107,200`|`(111,505)`|`(4,305)`| ## **`11. OTHER FINANCIAL COMMITMENTS`** ``` The charityhadno grantcommitmentsorcontingentliabilitiesat the balancesheet dateandnorhadit given any guarantees or indemnities at the balance sheet date. ``` ## **`12. RELATED PARTY DISCLOSURES`** ``` Asdisclosedinnote2,thefoundertrustee,MrDavidPaterson,madedonationstotalling£65,800 (2023: £31,000) to the Trust during the year. ``` ``` Aninvoicefor£4,200(2023:NIL)wasissuedbyLeeBoltonMonier-Williamswhereoneofthetrusteesis a partner and a head of commercial property. At the year end, £2,200 (2023: NIL) remains outstanding. ``` ``` Page 11 ```