**REGISTERED CHARITY NUMBER: 1079236**
## **Report of the Trustees and Unaudited Financial Statements**
**for the Year Ended 5 April 2021**
## **for**
## **The Dagny Raymond Charitable Trust**
Ward Goodman 4 Cedar Park Cobham Road Ferndown Industrial Estate Wimborne Dorset BH21 7SF
**The Dagny Raymond Charitable 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||
|**Notes to the Financial Statements**|7|to|13|
**The Dagny Raymond Charitable Trust**
## **Report of the Trustees for the Year Ended 5 April 2021**
The trustees present their report with the financial statements of the charity for the year ended 5 April 2021. The trustees have adopted the provisions of 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 2019).
## **OBJECTIVES AND ACTIVITIES**
The Charity's objects are to pay or apply the income and (if and when the Trustees in their absolute discretion think fit) the whole or any part or parts of the Capital of the Trust Fund to or for such charitable institution or institutions or other charitable object or objects in any part of the world as the Trustees shall in their absolute discretion think fit to support or establish.
The Trustees are consulted in connection with the affairs of the Trust by being asked to consider the reports and matters requiring decision as presented at each Trustees meeting
The Trustees decide the total amount available for donation and which charities or charitable objects to donate to at biannual Trustees meetings. The Trustees' have due regard for the Charity Commission's public benefit guidance when making these decisions.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The charity has made total donations of £nil during the year to 5 April 2021 compared with £88,415 in the year to 5 April 2020.
## **Investment performance**
The charity has achieved a return of £85,062 on investments by way of dividends. Slightly lower than what was received in the previous year, £103,894.
The market value of investments at 5 April 2021 has increased by £538,193 on the previous year.
## **FINANCIAL REVIEW**
## **Financial position**
The charity achieved a surplus in the year of £625,036, compared with a deficit of £573,128 in the prior year. The change is caused by the changes in the value of fixed asset investments in each year. Investments achieved a loss of £575.742 in 2020 but a gain of £543,584 in the current year.
Total unrestricted funds carried forward at the year end amounted to £2,256,593 (2020: £1,631,557).
## **INVESTMENT POLICY**
It is the Charity's policy to invest primarily in Blue-Chip securities, to maintain balanced holdings in the various sectors of the market as well as geographically, to invest for the long-term to avoid constant change of holdings and to obtain above average income where possible.
## **RESERVES POLICY**
The Trustees' policy on reserves is to review reserve levels on a regular basis and to maintain a level of reserves which will provide a stable base for the Trust's continuing activities while at the same time ensuring that excessive funds are not accumulated.
Total unrestricted funds at the year end amounted to £2,256,593, made up of £133,745 cash reserves. The remainder of the funds relate to fixed asset investments which can only be released on the sale of those assets.
The charitable company has free reserves of £126,641 as at 05 April 2021 (2020 - £39,798). The Trustees consider this level of reserves to be sufficient to deliver charitable objectives for the next twelve months. Free reserves are calculated by deducting fixed assets from the unrestricted (and undesignated) reserves held at the year-end.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
Trust Deed dated 22 December 1999
Page 1
**The Dagny Raymond Charitable Trust**
## **Report of the Trustees for the Year Ended 5 April 2021**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees**
Trustees are elected and appointed by the existing Trustees at Trustee meetings.
## **RISK MANAGEMENT**
The trustees have conducted a review of the major risks to which the charity is exposed. where appropriate systems or procedures have been established to mitigate an impact they may have on the charity.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1079236
## **Principal address**
Glebe House North Street Wareham Dorset BH20 4AN
## **Trustees**
G D S Smart C White Humphries Kirk Corporate Trustee D Evans
Humphries Kirk Executor and Trustee Company - Laura Staples
## **Independent Examiner**
Miss Jen Richardson BA (Hons) ACA FCCA DChA Ward Goodman 4 Cedar Park Cobham Road Ferndown Industrial Estate Wimborne Dorset BH21 7SF
## **BANKERS**
HSBC 165-167 High Street Poole Dorset BH15 1AU
## **INVESTMENT ADVISERS**
Farley & Thompson Pine Grange Bath Road Bournemouth BH1 2NU
Page 2
**The Dagny Raymond Charitable Trust**
## **Report of the Trustees for the Year Ended 5 April 2021**
02/02/2022 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Humphries Kirk - Trustee
Page 3
**Independent Examiner's Report to the Trustees of The Dagny Raymond Charitable Trust**
## **Independent examiner's report to the trustees of The Dagny Raymond Charitable Trust**
I report to the charity trustees on my examination of the accounts of The Dagny Raymond Charitable Trust (the Trust) for the year ended 5 April 2021.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection 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.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Miss Jen Richardson BA (Hons) ACA FCCA DChA Ward Goodman 4 Cedar Park Cobham Road Ferndown Industrial Estate Wimborne Dorset BH21 7SF
4 February 2022 Date: .............................................
Page 4
## **The Dagny Raymond Charitable Trust**
## **Statement of Financial Activities for the Year Ended 5 April 2021**
|Notes
**INCOME AND ENDOWMENTS FROM**
Investment income
3
**EXPENDITURE ON**
Raising funds
4
**Charitable activities**
5
Charitable Activities
**Total**
Net gains/(losses) on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|2021
Unrestricted
fund
£
85,062
3,526
84
3,610
543,584
625,036
1,631,557
2,256,593|2020
Total
funds
£
103,894
560
100,720
101,280
(575,742)
(573,128)
2,204,685
1,631,557|
|---|---|---|
The notes form part of these financial statements
Page 5
**The Dagny Raymond Charitable Trust**
## **Balance Sheet 5 April 2021**
|Notes
**FIXED ASSETS**
Investments
11
**CURRENT ASSETS**
Debtors
12
Cash at bank
**CREDITORS**
Amounts falling due within one year
13
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
14
Unrestricted funds
**TOTAL FUNDS**|2021
Unrestricted
fund
£
2,129,952
-
133,745
133,745
(7,104)
126,641
2,256,593
2,256,593
2,256,593
2,256,593|2020
Total
funds
£
1,591,759
807
44,451
45,258
(5,460)
39,798
1,631,557
1,631,557
1,631,557
1,631,557|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 02/02/2022
............................................. Humphries Kirk - Trustee
The notes form part of these financial statements
Page 6
**The Dagny Raymond Charitable Trust**
## **Notes to the Financial Statements for the Year Ended 5 April 2021**
## **1. LEGAL FORM**
The Dagny Raymond Charitable Trust is a charitable organisation, registered in England and Wales. The registered office is noted on page 2.
## **2. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Cash at bank**
Cash at bank includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **Expenditure and creditors**
Liabilities are measured at transaction price and recognised as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 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.
## **Governance costs**
Governance costs comprise all the costs involving the public accountability of the charity and its compliance with regulation and good practise.
## **Taxation**
The charity is a registered charity and so there is no charge for taxation with the exception of Value Added Tax. The irrecoverable element of VAT is included within the item of expense to which it relates.
## **Fund accounting**
Unrestricted 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 purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Investments**
Investments included in the accounts are included at market value. Gains arising from the sale of quoted investments are disclosed in the SOFA as realised gains. Gains arising from changes to the market values of quoted investments are disclosed in the SOFA as unrealised gains.
continued...
Page 7
**The Dagny Raymond Charitable Trust**
## **Notes to the Financial Statements - continued for the Year Ended 5 April 2021**
## **3. INVESTMENT INCOME**
|**3.**
**INVESTMENT INCOME**|||
|---|---|---|
|Investment income
**4.**
**RAISING FUNDS**
**Investment management costs**
Portfolio management
**5.**
**CHARITABLE ACTIVITIES COSTS**
Grant
funding of
activities
(see note
6)
£
Charitable Activities
(4,770)
**6.**
**GRANTS PAYABLE**
Charitable Activities|2021
£
85,062
2021
£
3,526
Support
costs (see
note 7)
£
4,854
2021
£
(4,770)|2020
£
103,894|
|||2020
£
560
Totals
£
84
2020
£
88,415|
continued...
Page 8
## **The Dagny Raymond Charitable Trust**
## **Notes to the Financial Statements - continued for the Year Ended 5 April 2021**
## **6.**
## **GRANTS PAYABLE - continued**
The total grants paid to institutions during the year was as follows:
|**GRANTS PAYABLE - continued**
The total grants paid to institutions during the year was as follows:|||
|---|---|---|
|Action on Hearing Loss
Age UK
Aid Fund for Christian Scientists in Need of Nursing Care
Barnardos
Blind Veterans UK
Canine Partners
Christian Science Trust in GB
Claremont Fan Court School
Computer Aid International
Dorset RBL County Welfare Fund
Everychild
First Church Christ Science Poole
Hawthorne Trust Limited
Independent Age
Joint Christian Science Reading Room UK
Mountlands Trust
NSPCC
Pension Trust Christian Science Nurses
RSPB
Saint Felix School
Send a Child to Hucklow
SOS Childrens Villages
The Bible Society
The Woodland Trust
Whitehaven Trust Limited
Womans Holiday Fund
Woodlands Adventure
YMCA
Longleigh Foundation
Queens and Kings School|2021
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(4,770)
-
(4,770)|2020
£
1,590
1,590
5,724
4,770
1,590
1,590
3,180
1,590
1,590
3,180
1,590
19,080
1,590
4,770
3,180
3,816
1,590
1,590
3,180
1,760
1,590
1,590
1,590
1,590
1,590
1,590
3,180
1,590
4,770
795|
|||88,415|
The Longleigh Foundation grant payable balance from the year ended 5th April 2020 has been reversed in the year ended 5th April 2021 as the cheque had not been banked within 6 months of the issue date.
continued...
Page 9
**The Dagny Raymond Charitable Trust**
## **Notes to the Financial Statements - continued for the Year Ended 5 April 2021**
## **7. SUPPORT COSTS**
|**SUPPORT COSTS**||
|---|---|
||Governance|
||costs|
||£|
|Charitable Activities|4,854|
During the year £2,250 (2020:£2,250) was paid to the independent examiners. These are included within governance costs.
## **8. TRUSTEES' REMUNERATION AND BENEFITS**
There was no trustees' remuneration or other benefits paid for the year ended 5 April 2021 nor for the year ended 5 April 2020.
## **Trustees' expenses**
No Trustees claimed expenses in the year ended 5 April 2021 (2020 - £nil).
## **9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**
Investment income
**EXPENDITURE ON**
Raising funds
**Charitable activities**
Charitable Activities
**Total**
Net gains/(losses) on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
103,894
560
100,720
101,280
(575,742)
(573,128)
2,204,685
1,631,557|
|---|---|
continued...
Page 10
## **The Dagny Raymond Charitable Trust**
## **Notes to the Financial Statements - continued for the Year Ended 5 April 2021**
## **10. INDEPENDENT EXAMINERS' REMUNERATION**
During the year £2,250 (2020:£2,250) was paid to the independent examiners.
## **11. FIXED ASSET INVESTMENTS**
|**MARKET VALUE**
At 6 April 2020
Additions
Disposals
Revaluations
At 5 April 2021
**NET BOOK VALUE**
At 5 April 2021
At 5 April 2020
There were no investment assets outside the UK.
**12.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Prepayments and accrued income
**13.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Other creditors
**14.**
**MOVEMENT IN FUNDS**
At 6.4.20
£
**Unrestricted funds**
General fund
1,631,557
**TOTAL FUNDS**
1,631,557|2021
£
-
2021
£
4,854
2,250
7,104
Net
movement
in funds
£
625,036
625,036|Listed
investments
£
1,591,759
301,255
(243,857)
480,795
2,129,952
2,129,952
1,591,759
2020
£
807
2020
£
3,210
2,250
5,460
At
5.4.21
£
2,256,593
2,256,593|
|---|---|---|
continued...
Page 11
## **The Dagny Raymond Charitable Trust**
## **Notes to the Financial Statements - continued for the Year Ended 5 April 2021**
## **14. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
85,062
85,062|Resources
expended
£
(3,610)
(3,610)|Gains and
Movemen
losses
in funds
£
£
543,584
625,036
543,584
625,036|Gains and
Movemen
losses
in funds
£
£
543,584
625,036
543,584
625,036|
|---|---|---|---|---|
|||||625,036|
## **Comparatives for movement in funds**
|||Net||
|---|---|---|---|
|||movement|At|
||At 6.4.19|in funds|5.4.20|
||£|£|£|
|**Unrestricted funds**||||
|General fund|2,204,685|(573,128)|1,631,557|
|**TOTAL FUNDS**|2,204,685|(573,128)|1,631,557|
Comparative net movement in funds, included in the above are as follows:
||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|
||resources|expended|losses|in funds|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|103,894|(101,280)|(575,742)|(573,128)|
|**TOTAL FUNDS**|103,894|(101,280)|(575,742)|(573,128)|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 6.4.19
£
2,204,685
2,204,685|Net
movement
in funds
£
51,908
51,908|At
5.4.21
£
2,256,593|
|---|---|---|---|
||||2,256,593|
continued...
Page 12
## **The Dagny Raymond Charitable Trust**
## **Notes to the Financial Statements - continued for the Year Ended 5 April 2021**
## **14. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
188,956
188,956|Resources
expended
£
(104,890)
(104,890)|Gains and
Movement
losses
in funds
£
£
(32,158)
51,908
(32,158)
51,908|
|---|---|---|---|
## **15. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 5 April 2021 (2020:£nil).
Page 13