REGISTERED CHARITY NUMBER: 1079236 

Report of the Trustees and 

Unaudited Financial Statements for the Year Ended 5 April 2024 

for 

The Dagny Raymond Charitable Trust 

Ward Goodman Audit Services Ltd 4 Cedar Park Ferndown Industrial Estate Wimborne Dorset BH21 7SF 



The Dagny Raymond Charitable 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|13|





## The Dagny Raymond Charitable Trust 

## Report of the Trustees for the Year Ended 5 April 2024 

The trustees present their report with the financial statements of the charity for the year ended 5 April 2024. 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 £165,000 during the year to 5 April 2024 compared with £nil in the year to 5  April 2023. 

Charitable donations were paused during 2023 and a comprehensive review of the list of charities was carried out by the Trustees to ensure that the list is in line with Dagny Raymond's wishes. Amendments have been made to the list and charitable donations have resumed in 2024. 

## Investment performance 

The charity has achieved a return of £110,592 on investments by way of dividends. Slightly higher than the amount which was received in the previous year, £102,943. 

The market value of investments at 5 April 2024 has increased by £19,240 on the previous year. 

## FINANCIAL REVIEW 

## Financial position 

The charity achieved a deficit in the year of £46,349, compared with a deficit of £143,060 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 £232,505 in the prior year, and a gain of £22,705 in the current year. 

Total unrestricted funds carried forward at the year end amounted to £2,205,879 (2023: £2,252,228). 

## INVESTMENT POLICY 

The aim of the fund is 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. 

Page 1 



## The Dagny Raymond Charitable Trust 

## Report of the Trustees for the Year Ended 5 April 2024 

## FINANCIAL REVIEW 

## 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 £2,205,879, made up of £69,408 cash reserves. The remainder of the funds relate to a debtor and fixed asset investments which can only be released on the sale of those assets. 

The charitable company has free reserves of £66,265 as at 05 April 2024 (2023: £131,854). 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 

## 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 40 High West Street Dorchester Dorset DT1 1UR 

Trustees 

G D S Smart C White Humphries Kirk Corporate Trustee D Evans 

Humphries Kirk Executor and Trustee Company - Laura Staples 

## Independent Examiner 

I M Rodd BSc FCA FCCA Ward Goodman Audit Services Ltd 4 Cedar Park Ferndown Industrial Estate Wimborne Dorset BH21 7SF 

Page 2 



## The Dagny Raymond Charitable Trust 

Report of the Trustees for the Year Ended 5 April 2024 

## REFERENCE AND ADMINISTRATIVE DETAILS INVESTMENT ADVISERS 

Farley & Thompson Pine Grange Bath Road Bournemouth BH1 2NU 30/01/2025 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 2024. 

## 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. 

I M Rodd BSc FCA FCCA 

Ward Goodman Audit Services Ltd 4 Cedar Park Ferndown Industrial Estate Wimborne Dorset BH21 7SF 

Date: ............................................. 31 January 2025 

Page 4 



## The Dagny Raymond Charitable Trust 

Statement of Financial Activities for the Year Ended 5 April 2024 

|Notes<br>INCOME AND ENDOWMENTS FROM<br>Investment income<br>3<br>EXPENDITURE ON<br>Raising funds<br>4<br>Charitable activities<br>5<br>Charitable Activities<br>Total<br>Net gains/(losses) on investments<br>NET INCOME/(EXPENDITURE)<br>RECONCILIATION OF FUNDS<br>Total funds brought forward<br>TOTAL FUNDS CARRIED FORWARD|2024<br>Unrestricted<br>fund<br>£<br>110,592<br>3,810<br>175,836<br>179,646<br>22,705<br>(46,349)<br>2,252,228<br>2,205,879|2023<br>Total<br>funds<br>£<br>102,943<br>3,932<br>9,566<br>13,498<br>(232,505)<br>(143,060)<br>2,395,288<br>2,252,228|
|---|---|---|



The notes form part of these financial statements 

Page 5 



## The Dagny Raymond Charitable Trust 

Balance Sheet 5 April 2024 

||Balance Sheet<br>5 April 2024|||
|---|---|---|---|
|||2024|2023|
|||Unrestricted|Total|
|||fund|funds|
||Notes|£|£|
|FIXED ASSETS||||
|Investments|11|2,139,614|2,120,374|
|CURRENT ASSETS||||
|Debtors|12|-|51,222|
|Cash at bank||69,408|82,882|
|CREDITORS||69,408|134,104|
|Amounts falling due within one year|13|(3,143)|(2,250)|
|NET CURRENT ASSETS||66,265|131,854|
|TOTAL ASSETS LESS CURRENT||||
|LIABILITIES||2,205,879|2,252,228|
|NET ASSETS||2,205,879|2,252,228|
|FUNDS|14|||
|Unrestricted funds||2,205,879|2,252,228|
|TOTAL FUNDS||2,205,879|2,252,228|



30/01/2025 The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 

............................................. 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 2024 

## 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. 

## Debtors 

Trade debtors and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount of prepaid net of any trade discounts due. 

## 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. 

continued... 

Page 7 



## The Dagny Raymond Charitable Trust 

## Notes to the Financial Statements - continued for the Year Ended 5 April 2024 

## 2. ACCOUNTING POLICIES - continued 

## 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. 

## 3. INVESTMENT INCOME 

|Investment income<br>4.<br>RAISING FUNDS<br>Investment management costs<br>Portfolio management<br>5.<br>CHARITABLE ACTIVITIES COSTS<br>Charitable Activities<br>6.<br>GRANTS PAYABLE<br>Charitable Activities|Grant<br>funding of<br>activities<br>(see note<br>6)<br>£<br>165,000|2024<br>£<br>110,592<br>2024<br>£<br>3,810<br>Support<br>costs (see<br>note 7)<br>£<br>10,836<br>2024<br>£<br>165,000|2023<br>£<br>102,943<br>2023<br>£<br>3,932<br>Totals<br>£<br>175,836<br>2023<br>£<br>-|
|---|---|---|---|



continued... 

Page 8 



## The Dagny Raymond Charitable Trust 

## Notes to the Financial Statements - continued for the Year Ended 5 April 2024 

## 6. GRANTS PAYABLE - continued 

The total grants paid to institutions during the year was as follows: 


**----- Start of picture text -----**<br>
||||
|---|---|---|
|2024|2023|
|£|£|
|-|
|Aid Fund for Christian Scientists in Need of Nursing Care|11,209|
|Barnardos|9,341|-|
|Blind Veterans UK|3,114|-|
|Canine Partners|3,113|-|
|Christian Science Trust in GB|6,226|-|
|Claremont Fan Court School|3,113|-|
|-|
|Computer Aid International|3,113|
|-|
|Everychild|3,113|
|First Church Christ Science Poole|37,358|-|
|Hawthorne Trust Limited|3,113|-|
|-|
|Independent Age|9,340|
|-|
|Joint Christian Science Reading Room UK|6,226|
|Mountlands Trust|7,472|-|
|NSPCC|3,113|-|
|Pension Trust Christian Science Nurses|3,113|-|
|-|
|Royal British Legion|6,226|
|Send a Child to Hucklow|3,113|-|
|-|
|SOS Childrens Villages|3,113|
|-|
|The Bible Society|3,113|
|Whitehaven Trust Limited|3,113|-|
|-|
|Womans Holiday Fund|3,113|
|Woodlands Adventure|6,226|-|
|YMCA|3,113|-|
|RNID|3,113|-|
|-|
|Purbeck Youth and Community Foundation|9,340|
|Dorset Children's Foundation|9,340|-|
|-|
|165,000|

**----- End of picture text -----**<br>


## 7. SUPPORT COSTS 


**----- Start of picture text -----**<br>
|||
|---|---|
|Governance|
|costs|
|£|
|Charitable Activities|10,836|

**----- End of picture text -----**<br>


continued... 

Page 9 



The Dagny Raymond Charitable Trust 

## Notes to the Financial Statements - continued for the Year Ended 5 April 2024 

## 8. TRUSTEES' REMUNERATION AND BENEFITS 

There was no trustees' remuneration or other benefits paid for the year ended 5 April 2024 nor for the year ended 5 April 2023. 

Trustees' expenses 

No Trustees claimed expenses in the year ended 5 April 2024 (2023 - £nil). 

## 9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES 

|INCOME AND ENDOWMENTS FROM<br>Investment income<br>EXPENDITURE ON<br>Raising funds<br>Charitable activities<br>Charitable Activities<br>Total<br>Net gains/(losses) on investments<br>NET INCOME/(EXPENDITURE)<br>RECONCILIATION OF FUNDS<br>Total funds brought forward<br>TOTAL FUNDS CARRIED FORWARD|Unrestricted<br>fund<br>£<br>102,943<br>3,932<br>9,566<br>13,498<br>(232,505)<br>(143,060)<br>2,395,288<br>2,252,228|
|---|---|



continued... 

Page 10 



## The Dagny Raymond Charitable Trust 

## Notes to the Financial Statements - continued for the Year Ended 5 April 2024 

## 10. INDEPENDENT EXAMINERS' REMUNERATION 

During the year £2,280 (2023:£2,250) was paid to the independent examiners. 

## 11. FIXED ASSET INVESTMENTS 

|MARKET VALUE<br>At 6 April 2023<br>Additions<br>Disposals<br>Revaluations<br>At 5 April 2024<br>NET BOOK VALUE<br>At 5 April 2024<br>At 5 April 2023<br>There were no investment assets outside the UK.<br>12.<br>DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR<br>Other debtors<br>13.<br>CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR<br>Other creditors<br>14.<br>MOVEMENT IN FUNDS<br>At 6.4.23<br>£<br>Unrestricted funds<br>General fund<br>2,252,228<br>TOTAL FUNDS<br>2,252,228|2024<br>£<br>-<br>2024<br>£<br>3,143<br>Net<br>movement<br>in funds<br>£<br>(46,349)<br>(46,349)|Listed<br>investments<br>£<br>2,120,374<br>120,812<br>(129,460)<br>27,888<br>2,139,614<br>2,139,614<br>2,120,374<br>2023<br>£<br>51,222<br>2023<br>£<br>2,250<br>At<br>5.4.24<br>£<br>2,205,879<br>2,205,879|
|---|---|---|



continued... 

Page 11 



## The Dagny Raymond Charitable Trust 

## Notes to the Financial Statements - continued for the Year Ended 5 April 2024 

## 14. MOVEMENT IN FUNDS - continued 

Net movement in funds, included in the above are as follows: 

|Unrestricted funds<br>General fund<br>TOTAL FUNDS<br>Comparatives for movement in funds<br>Unrestricted funds<br>General fund<br>TOTAL FUNDS|Incoming<br>resources<br>£<br>110,592<br>110,592|Resources<br>expended<br>£<br>(179,646)<br>(179,646)<br>At 6.4.22<br>£<br>2,395,288<br>2,395,288||Gains and<br>losses<br>£<br>22,705<br>22,705<br>Net<br>movement<br>in funds<br>£<br>(143,060)<br>(143,060)|Movement<br>in funds<br>£<br>(46,349)<br>(46,349)<br>At<br>5.4.23<br>£<br>2,252,228<br>2,252,228|
|---|---|---|---|---|---|



Comparative net movement in funds, included in the above are as follows: 

|Unrestricted funds<br>General fund<br>TOTAL FUNDS|Incoming<br>resources<br>£<br>102,943<br>102,943|Resources<br>expended<br>£<br>(13,498)<br>(13,498)|Gains and<br>Movement<br>losses<br>in funds<br>£<br>£<br>(232,505)<br>(143,060)<br>(232,505)<br>(143,060)|
|---|---|---|---|



A current year 12 months and prior year 12 months combined position is as follows: 

|Unrestricted funds<br>General fund<br>TOTAL FUNDS|At 6.4.22<br>£<br>2,395,288<br>2,395,288|Net<br>movement<br>in funds<br>£<br>(189,409)<br>(189,409)|At<br>5.4.24<br>£<br>2,205,879<br>2,205,879|
|---|---|---|---|



continued... 

Page 12 



## The Dagny Raymond Charitable Trust 

## Notes to the Financial Statements - continued for the Year Ended 5 April 2024 

## 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<br>General fund<br>TOTAL FUNDS|Incoming<br>resources<br>£<br>213,535<br>213,535|Resources<br>expended<br>£<br>(193,144)<br>(193,144)|Gains and<br>Movement<br>losses<br>in funds<br>£<br>£<br>(209,800)<br>(189,409)<br>(209,800)<br>(189,409)|
|---|---|---|---|



## 15. RELATED PARTY DISCLOSURES 

At 5 April 2024, a cash holding arrangement was held with Humphries Kirk, a corporate trustee, on behalf of the charity with an amount of £nil (2023: £51,222) 

There were no other related party transactions for the year ended 5 April 2024 (2023:£nil). 

Page 13