REGISTERED COMPANY NUMBER: 03956167 (England and Wales) REGISTERED CHARITY NUMBER: 1080934
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
FOR
THE HENRY DENMAN AND AGNETA MARY COOK CHARITY
Vale & West Chartered Accountants Victoria House 26 Queen Victoria Street Reading Berkshire RG1 1TG
THE HENRY DENMAN AND AGNETA MARY COOK CHARITY
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 to 7 |
| Notes to the Financial Statements | 8 to 13 |
| Detailed Statement of Financial Activities | 14 |
THE HENRY DENMAN AND AGNETA MARY COOK CHARITY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. 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
Objectives and aims
The objects of the charity are such charitable purposes as the trustees/directors shall think fit.
Significant activities
The significant activity of the charity is to make grants to charitable organisations.
Grantmaking
The directors/trustees decide which charitable organisations will receive grants and plan to distribute the annual accounting surplus.
The Trustees confirm that they have complied with the duty in Section 17 (5) of the Charities Act 2011 to have due regard to public benefit when reviewing the Trust's aims and objectives and in planning future activities and setting the grant making policy for the year.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity makes payments to charitable organisations in line with the sole source of income received (ie investment income). Every year it makes substantial grants to at least two charities. It is not expected that there will be any fundamental changes in the near future.
Investment policy and performance
Investments funds are under the discretionary administration of to provide a balance between income and capital growth.
FINANCIAL REVIEW
Financial position
The charity has income from investments to fund its charitable objects. The accumulated income at 31 March 2021 was (£19,922) and the total income for the year to 31 March 2022 was £27,587. Grants to charitable organisations of £25,000 and payments and fees of £11,945 were made during the year leaving a balance of unrestricted funds at 31 March 2022 of (£28,830).
Principal funding sources
The principal funding source of the charity is the income derived from its investments.
Investment policy and objectives
Investment funds are under the discretionary administration of Redmayne Bentley LLP to provide balance between income and capital growth.
Reserves policy
The charity aims to retain funds to cover grants and governance costs for one year. All unrestricted fund income will be distributed in due course.
Page 1
THE HENRY DENMAN AND AGNETA MARY COOK CHARITY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
FUTURE PLANS
The charity is a lasting testimony to the generosity and philanthropic concerns of the donor, the late Mrs K A Thomas and in accordance with her wishes the charity will continue to make grants to charitable organisations as the trustees see fit.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity was established by funds gifted by the late Mrs K A Thomas. An additional endowment of £100,000 was gifted by the Rev D H Bond-Thomas on 29 March 2007.
The organisation is a charitable company limited by guarantee, incorporated on 21 March 2000 and registered as a charity on 31 May 2000. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up, members are required to contribute an amount not exceeding £5 to the assets of the company.
Trustees/Directors and Organisational Structure
The directors of the company are also charity trustees for the purposes of charity law. The trustees who held office during the financial year and at the date of this report are set out on page 1. There is no requirement for trustees to retire and it is not intended to appoint any new trustees at this time. If and when new trustees are appointed, they will be given an introduction to the work of the charity and provided with the information they need to fulfil their roles, which includes information about the role of trustees and charity law. All of the existing trustees have long experience of being charity trustees.
The trustees/directors meet annually and are responsible for the direction and policy of the charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 03956167 (England and Wales)
Registered Charity number
1080934
Registered office
Victoria House 26 Queen Victoria Street Reading Berkshire RG1 1TG
Trustees
Miss K M Cutts Chartered Accountant Mrs E R Heaver Stockbroker P D Lowery Solicitor
Page 2
THE HENRY DENMAN AND AGNETA MARY COOK CHARITY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner
Vale & West Chartered Accountants Victoria House 26 Queen Victoria Street Reading Berkshire RG1 1TG
Solicitors
Boyes Turner LLP, Abbots House, Abbey Street, Reading, RG1 3BD
Investment Managers
Redmayne Bentley LLP, Market Place House, 43 Market Place, Henley-on-Thames RG9 2AA.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 15 December 2022 and signed on its behalf by:
Miss K M Cutts - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HENRY DENMAN AND AGNETA MARY COOK CHARITY
Independent examiner's report to the trustees of The Henry Denman and Agneta Mary Cook Charity ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
L P Gardner FCA Vale & West Chartered Accountants Victoria House 26 Queen Victoria Street Reading Berkshire RG1 1TG
15 December 2022
Page 4
THE HENRY DENMAN AND AGNETA MARY COOK CHARITY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| 31.3.22 Unrestricted Endowment Total funds fund funds Notes £ £ £ INCOME AND ENDOWMENTS FROM Investment income 3 27,587 - 27,587 EXPENDITURE ON Raising funds 4 4,392 - 4,392 Charitable activities 5 Grants Paid 25,000 - 25,000 Other 6 7,103 - 7,103 Total 36,495 - 36,495 Net gains on investments - 45,314 45,314 NET INCOME/(EXPENDITURE) (8,908) 45,314 36,406 RECONCILIATION OF FUNDS Total funds brought forward (19,922) 732,035 712,113 TOTAL FUNDS CARRIED FORWARD (28,830) 777,349 748,519 |
31.3.21 Total funds £ 26,932 |
|---|---|
| 4,037 25,000 6,424 |
|
| 35,461 | |
| 100,222 | |
| 91,693 620,420 |
|
| 712,113 |
The notes form part of these financial statements
Page 5
THE HENRY DENMAN AND AGNETA MARY COOK CHARITY
BALANCE SHEET 31 MARCH 2022
| Notes FIXED ASSETS Investments 8 CURRENT ASSETS Debtors 9 Cash at bank CREDITORS Amounts falling due within one year 10 NET CURRENT ASSETS/(LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 11 Unrestricted funds Endowment funds TOTAL FUNDS |
Unrestricted funds £ - - 15,071 15,071 (43,901) (28,830) (28,830) (28,830) |
Endowment fund £ 737,450 39,899 - 39,899 - 39,899 777,349 777,349 |
31.3.22 Total funds £ 737,450 39,899 15,071 54,970 (43,901) 11,069 748,519 748,519 (28,830) 777,349 748,519 |
31.3.21 Total funds £ 696,307 35,771 21,800 57,571 (41,765) 15,806 712,113 712,113 (19,922) 732,035 712,113 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 6
continued...
THE HENRY DENMAN AND AGNETA MARY COOK CHARITY
BALANCE SHEET - continued 31 MARCH 2022
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 15 December 2022 and were signed on its behalf by:
P D Lowery - Trustee
E R Heaver - Trustee
K M Cutts - Trustee
The notes form part of these financial statements
Page 7
THE HENRY DENMAN AND AGNETA MARY COOK CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1. STATUTORY INFORMATION
Henry Denman & Agneta Mary Cook Charity is a charitable company limited by guarantee without share capital (company registration number 03956167). The charity is also registered with The Charity Commission (charity registration number 1080934).
The principal address is Victoria House, 26 Queen Victoria Street, Reading, Berkshire. The charity operates in Reading, Berkshire.
The financial statements are presented in Pound Sterling (£), which is also the functional currency of the company.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. 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.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
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.
Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates:
-
charitable expenditure comprises grants to charitable organisations.
-
governance costs include the costs of meeting the constitutional and statutory requirements of the charity and include fees and costs charged by trustees/directors.
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.
Taxation
The charity charity is exempt from corporation tax on its charitable activities.
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
continued...
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THE HENRY DENMAN AND AGNETA MARY COOK CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
2. ACCOUNTING POLICIES - continued
Fund accounting
Endowment funds represent those assets which must be held permanently by the charity, principally investments.
3. INVESTMENT INCOME
| Dividends - UK Equities Dividends - Foreign Equities Other fixed asset inv - UnFII Interest on UK Trusts & Bonds 4. RAISING FUNDS Investment management costs Investment Management Fees 5. CHARITABLE ACTIVITIES - GRANTS PAID Support Dogs Thames Hospice Promise Inclusion St Mungo's Reading Refugee Support Group Launchpad Berkshire Women's Aid Promise Inclusion Change Grow Live Berkshire Youth Trust |
31.3.22 £ 11,383 5,155 4,691 6,358 27,587 31.3.22 £ 4,392 |
31.3.21 £ 11,861 4,842 4,178 6,051 26,932 31.3.21 £ 4,037 |
||
|---|---|---|---|---|
| 31.3.22 | 31.3.21 | |||
| £ | £ | |||
| 5,000 | - | |||
| 5,000 | - | |||
| 5,000 | - | |||
| 5,000 | - | |||
| 5,000 | - | |||
| - | 5,000 | |||
| - | 5,000 | |||
| - | 5,000 | |||
| - | 5,000 | |||
| - | 5,000 | |||
| 25,000 | 25,000 | |||
continued...
Page 9
THE HENRY DENMAN AND AGNETA MARY COOK CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
6. OTHER
| 31.3.22 | 31.3.21 | |
|---|---|---|
| £ | £ | |
| Accountancy | 4,703 | 4,326 |
| Legal fees | 2,400 | 2,098 |
| 7,103 | 6,424 | |
7. TRUSTEES' REMUNERATION AND BENEFITS
During the year the company paid fees of £4,703 (2021: £4,326) to Vale & West Accountancy Services Limited in which Miss K M Cutts is a director and shareholder. Fees of £4,392 (2021: £4,037) were paid to Redmayne Bentley LLP in which Mrs E R Heaver is a partner and fees of £2,400 (2021: £2,098) to Boyes Turner LLP in which Mr P D Lowery is a partner.
The transactions were made in the normal course of administering the trust.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
8. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| Listed | |
| investments | |
| £ | |
| MARKET VALUE | |
| At 1 April 2021 | 696,307 |
| Additions | 49,375 |
| Disposals | (47,450) |
| Revaluations | 39,218 |
| At 31 March 2022 | 737,450 |
| NET BOOK VALUE | |
| At 31 March 2022 | 737,450 |
| At 31 March 2021 | 696,307 |
There were no investment assets outside the UK.
At the balance sheet date, the following investments accounted for 5% or more of the portfolio:
BHP Billiton PLC Diageo Int. Public Partnerships Schroder Unit Trusts Asian Income Fund
continued...
Page 10
THE HENRY DENMAN AND AGNETA MARY COOK CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
8. FIXED ASSET INVESTMENTS - continued
Veritas Funds Plc
9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Stockbroker Capital Account Income Tax Repayable 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors Accrued expenses 11. MOVEMENT IN FUNDS At 1.4.21 £ Unrestricted funds Unrestricted fund (19,922) Endowment funds Endowment funds 732,035 TOTAL FUNDS 712,113 |
31.3.22 £ 39,899 - 39,899 31.3.22 £ 37,311 6,590 43,901 Net movement in funds £ (8,908) 45,314 36,406 |
31.3.21 £ 35,728 43 35,771 31.3.21 £ 32,919 8,846 41,765 At 31.3.22 £ (28,830) 777,349 748,519 |
|---|---|---|
continued...
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THE HENRY DENMAN AND AGNETA MARY COOK CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
11. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming Resources resources expended £ £ Unrestricted funds Unrestricted fund 27,587 (36,495) Endowment funds Endowment funds - - TOTAL FUNDS 27,587 (36,495) Comparatives for movement in funds At 1.4.20 £ Unrestricted funds Unrestricted fund (11,393) Endowment funds Endowment funds 631,813 TOTAL FUNDS 620,420 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds Unrestricted fund 26,932 (35,461) Endowment funds Endowment funds - - TOTAL FUNDS 26,932 (35,461) |
Gains and Movement losses in funds £ £ - (8,908) 45,314 45,314 45,314 36,406 Net movement At in funds 31.3.21 £ £ (8,529) (19,922) 100,222 732,035 91,693 712,113 Gains and Movement losses in funds £ £ - (8,529) 100,222 100,222 100,222 91,693 |
|---|---|
continued...
Page 12
THE HENRY DENMAN AND AGNETA MARY COOK CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2022.
13. ULTIMATE CONTROLLING PARTY
The company is controlled by the trustees/directors listed on page 1 under the terms of the Articles and Memorandum of Association.
Page 13
THE HENRY DENMAN AND AGNETA MARY COOK CHARITY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| FOR THE YEAR ENDED 31 | MARCH 2022 | |
|---|---|---|
| 31.3.22 | 31.3.21 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Investment income | ||
| Dividends - UK Equities | 11,383 | 11,861 |
| Dividends - Foreign Equities | 5,155 | 4,842 |
| Other fixed asset inv - UnFII | 4,691 | 4,178 |
| Interest on UK Trusts & Bonds | 6,358 | 6,051 |
| 27,587 | 26,932 | |
| Total incoming resources | 27,587 | 26,932 |
| EXPENDITURE | ||
| Investment management costs | ||
| Investment Management Fees | 4,392 | 4,037 |
| Charitable activities | ||
| Grants Paid | 25,000 | 25,000 |
| Support costs | ||
| Governance costs | ||
| Legal fees | 2,400 | 2,098 |
| Accountancy | 4,703 | 4,326 |
| 7,103 | 6,424 | |
| Total resources expended | 36,495 | 35,461 |
| Net expenditure before gains and losses | (8,908) | (8,529) |
| Realised recognised gains and losses | ||
| Gains/Losses on Investments | 45,314 | (13,682) |
| Net income/(expenditure) | 36,406 | (22,211) |
This page does not form part of the statutory financial statements
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