**Charity registration number 1082295** 

**Company registration number 03935283 (England and Wales)** 

**THE LADY RYDER OF WARSAW MEMORIAL TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023** 



## **THE LADY RYDER OF WARSAW MEMORIAL TRUST** 

## **LEGAL AND ADMINISTRATIVE INFORMATION** 

**Trustees** Mr R M Frith FCA (Chairman) Mr AO Cumine Mr M E Cutting FCA (Treasurer) Lady A Hobhouse Ms K V Taylor **Secretary** Lady A Hobhouse **Charity number** 1082295 **Company number** 03935283 **Registered office** Moorgate House 7 Station Road West Oxted Surrey RH8 9EE **Independent examiner** BGM Helmores Limited Emperor's Gate 114a Cromwell Road Kensington London SW7 4AG 



## **THE LADY RYDER OF WARSAW MEMORIAL TRUST** 

## **CONTENTS** 

||**Page**|
|---|---|
|Trustees' report|1 - 6|
|Independent examiner's report|7|
|Statement of financial activities|8|
|Balance sheet|9|
|Notes to the financial statements|10 - 16|





## **THE LADY RYDER OF WARSAW MEMORIAL TRUST** 

## **TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT)** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_ 

The Trustees present their report and accounts for the year ended 28 February 2023. 

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity's governing document, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). 

The Trustees confirm they have complied with their duty to have regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties. 

The charity meets the definition of a charity under the Charities Act 2011 as it works exclusively for charitable purposes and is for the public benefit, especially for the poor and sick people of Italy, Poland, France and UK. 

## **Objectives and activities** 

The Charity was established by Lady Ryder in the last year of her life to assist and support the charitable work of bodies established for the purposes set out below in any part of the world, and in particular the charitable work established by Lady Ryder. 

The Charity's objects, as set out in its governing document are: 

- The relief of poverty; 

- The relief of sickness and any form of physical and mental disability of individuals; 

- The relief of the consequences of old age by providing facilities for the care of the elderly; 

- To provide education relating to the causes of and the means of relief of poverty, sickness, physical or mental disability and old age, to promote religious teaching, and in particular the beliefs and principles of the Christian Faith; 

- To care for refugees in any part of the world. 

The policies adopted in furtherance of these objects are the reserves and expenditure policy and the investment policy and there has been no change in these during the year. 

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake. 

- 1 - 



## **THE LADY RYDER OF WARSAW MEMORIAL TRUST** 

## **TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_ 

## **Achievements and performance** 

During the year I am pleased to report some new achievements and developments. I shall detail those below but firstly I wish to thank the trustees who have remained in office and worked hard to manage and promote the trust in accordance with its aims and objectives. My thanks do go to trustees who have been involved for a number of years and retired during the year for their dedicated service to the Trust and the cause, being The Reverend Robert Clifton and Dr Gosia Brykczynska. I would also like to welcome Ms Katie Taylor who joined us in January 2023. 

Following on from my report last year, I should like to advise that we have a new website www.lrwmt.org.uk. Along with this development we have also progressed with social media making many postings enabling us to contact, communicate and update everywhere in the world with our and their activities. 

We have made some further plans in respect of celebrating the centenary of Sue Ryder’s birth in 2024. In October last year we launched a succinct biography of Sue Ryder. It is titled ‘A Life Lived for Others’ and includes as a second section the detail of all the places around the world where she worked during her lifetime, entitled ‘The Work Continues’. This has never been put down in one place before. We were able to promote this in March this year at Ognisko, the Polish Hearth Club, in Kensington, London to a capacity audience. 

There continues to be many areas around the world where humanitarian aid in accordance with Sue Ryder’s vision could be given. Our funds are limited but through the year and in particular in March 2022 we have granted £46,250 to Polish charities to help with their work helping and housing Ukranian refugees as a result of their displacement from the Russian invasion. This was referred to in my report supporting the 2022 accounts. 

Our medical university scholarships continue and have expanded such that we are now supporting eight students through university, who would not ordinarily be able to afford this education, thereby encouraging social mobility. This year our grants total £52,000. We are delighted with this initiative as it enables the Trust to engage with the youth and also future proof Sue Ryder’s name. The doctor who we supported and qualified in 2021 went to Raphael India, The Ryder-Cheshire Centre. The Centre runs a Special Education programme for people with disabilities, a TB Control programme and a Lifelong Care programme. The concept is to offer the students more than the funding, but a valuable and once in a lifetime experience, as well as bringing the Sue Ryder family closer together. Clearly we would like to support many more student doctors under the Sue Ryder patronage and hope this will become possible. 

We continue to support the activity in Italy with £15,000 of grants to provide a number of humanitarian basic requirements for the poor and needy in Rome. 

In this financial year we report our investments have struggled in line with market forces in respect of capital value, yet our income has held in finite terms justifying the majority of the non-charitable expenditure being the investment management fees. 

Finally, thanks once again go to Ruth Young, who undertakes the day-to-day administration so effectively and efficiently. 

As we near the centenary of Sue Ryder’s birth I hope to report more next year as our plans become fixed. 

- 2 - 



## **THE LADY RYDER OF WARSAW MEMORIAL TRUST** 

## **TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_ 

## **Reserves and Grant Making policy** 

It is the policy of the charity to retain the original legacy and any subsequent gifts and legacies as reserves. These are invested to provide an annual income which is to be distributed. The charity’s primary source of income is currently derived from the returns (dividends and interest) generated from these investments. The Trustees continually review the investments, together with their investment advisors, with the aim of preserving capital while maintaining income in order to pursue the Trust’s objectives. 

In respect of the restricted fund, which relates to Poland, the trustees will from time to time relax the policy in place for the general fund and reduce that fund accordingly. However this will be done mindful of having sufficient ongoing funds to support future activities. 

## **Investment Policy** 

Investments are held primarily to provide an investment return for the charity. 

The Trustees rely on the Investment Manager to maintain the purchasing power of the funds invested while generating a reasonable income.  In order to achieve this, the Investment Manager aims for a diversified and balanced portfolio with no speculative or risky investments. The investment policy is reviewed regularly and the Trustees’ attitude to risk is low. 

## **Financial review** 

It has been the policy of the charity not to actively raise funds nor seek funding thus consequently it retains its reserves as far as possible. However, in future we are planning to start fundraising (see Plans for the Future below). In this and previous years, income has been derived from one-off legacies and investment income from its own general capital. 

The charity has a responsibility to provide funding for activities overseas. These activities are in Poland, Italy and France, where funding and the supply of medical equipment and consumables are restricted. 

Therefore, while previously the trustees consider that expenditure should match capital growth and income generated in the year, then if there is a specific large project to fund within the remit of the charity's activities, the trustees have the discretion to reduce the capital. 

- 3 - 



## **THE LADY RYDER OF WARSAW MEMORIAL TRUST** 

## **TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_ 

||2023|2022|
|---|---|---|
|Total income for theyear|£115,331|£109,614|
||||
|Direct charitablepayable|£195,374|£133,660|
|Other costs|£4,224|£4,970|
|Total costs|(£199,598)|(£138,630)|
|Netgains/(losses)on investments|(£110,142)|£153,231|
|Net surplus/(deficit)|(£194,409)|£124,215|



## **Reserves** 

The total reserves held by The Lady Ryder of Warsaw Memorial Trust amount to £3,403,039(2022 - £3,597,448) of which £725,988 is restricted (2022 - £782,940).  The purpose of these reserves is to allow it to continue to maintain and develop the Charity. 

## **Plans for the future** 

Mindful the above has occurred due to our grants for the war in Eastern Europe this next year the trustees have decided to seek fundraising and are looking to hire a professional in this field. The primary aim is to boost our funds to enable an increase in funding more medical students through university. 

Secondly and yet as importantly, we shall continue to support projects which we know the Founder would have supported in accordance with our objectives. We shall also spend time and perhaps some resources on trying to secure the Sue Ryder ethos and keep alive the memory of the incredible work done by the Founder as the centenary of her birth approaches in 2024. 

## _**Risk management**_ 

The principal risks faced by the Trust lie in the performance of investments held by the charity, the uncertainty of future voluntary income and the operational risk of grants payable to Trusts in Poland, Italy and France being payable in foreign currencies. 

The investment risk is mitigated by retaining experienced investment managers and having a diversified investment portfolio. The Trustees rely on the Investment Manager to maintain the purchasing power of the funds invested while generating a reasonable income. In order to achieve this, the Investment Manager aims for a diversified and balanced portfolio with no speculative or risky investments and capital preservation should be sought at all times. The investment policy is reviewed regularly and the Trustees' attitude to risk is low. 

The Trustees have assessed the major risks to which the Charity is exposed and are satisfied that systems are in place to mitigate exposure to major risks. In order to identify relevant risks and appropriate controls the following matters were considered: - 

- the charity's objectives and strategies; 

- the nature and scope of the charity's activities; 

- external legislation and regulations; 

- performance of the investments; 

- the operating structure of the charity; and 

- comparison with other similar-size charities or those working in the same sector. 

- 4 - 



## **THE LADY RYDER OF WARSAW MEMORIAL TRUST** 

## **TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_ 

## **Structure, governance and management** 

The Charity was incorporated as a company limited by guarantee without a share capital on 23 February 2000. And registered as a charity in England and Wales. The registered company number is 3935283 and the registered charity number is 1082295. The registered office and principal address of the reporting entity is Moorgate House, 7 Station Road West, Oxted, Surrey, RH8 9EE. The articles of association is the governing document for the charity, which meets the definition of a charity under the Charities Act 2011 as it works exclusively for charitable purposes and is for the public benefit, especially for the poor and sick people of Italy, Poland, France and England. 

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: 

Mr R M Frith FCA (Chairman) Dr M M Brykczynska (Retired 3 October 2022) The Reverend R W Clifton (Retired 3 October 2022) Mr M E Cutting FCA (Treasurer) Lady A Hobhouse Mr AO Cumine Ms KV Taylor (Appointed 16 January 2023) 

The appointment and induction of new Trustees is reviewed reguarly to cover areas of expertise required by the charity. The training requirements of current Trustees are reviewed regularly at Trustees meetings. 

None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up. 

The organisation structure of The Lady Ryder of Warsaw Memorial Trust consists of a board of Trustees and advisors who meet on a regular basis to consider and review the charity's activities, general progress and current financial position. Decisions are then made on matters such as the investment of the charity's funds, grants payable and the level of reserves appropriate to each fund in order to meet their objectives. 

- 5 - 



THE LADY RYDER OF WARSAW MEMORIAL TRUST
TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORn (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUAR Y 2023
Statsm•nl of Trust••s' r•spon￿bIlItIe#
The Trustees, who are 81s0 the ¢JIrect￿S of The Lady Ryder or Warsaw Memcffial Tfust the pU￿oSe of company
law, gre responslble lor preparing the Trustees. Rewi and the flnandal ststements In 8w)rd8nce wSlh applicable
law and United lQngdom Accounting Stsndards (United lfjTrgd￿￿ GenerallyAccepled Accounting Practice).
Company Law r8quires th8 Trustees to prep8re fin3ncxal statements for eath financAal yeaf which give a tnJ8 and
fair view of the stale o18ft8irs of the Charity and of Ihe incomwvJ reS￿r￿ etmj aWicBllon of rosources, indudlng
the Income and expenditLwe. of the charit8ble c(Mnp8ny that yE8r.
In preparng these financ4al stat•m•nts, the Twstees ae rth]uTrl to..
- sele(* suStabb accounong pdlcJes then ttwm c(mlstenty.
- obser¥8 the methc4ls and In the Ch8dJes SORP;
- m8ke judgernents and 8stimatss thal arg reas￿abl9 and pnJdenL'
- stsle whether 8ppllcab18 UK Acwjntlng St8ndards h8¥e been fthwd. **ct to any m8tert81 d•partures
dlsdoBed and expkiined in the finandal slalements; and
- prepare th8 flnancigt statem￿ts cn the Wng rJ)rthm ba818 unlBs8 it is inaFvcyiate to presume that the Charity
11 Gonlnue in operakn.
The Tru8tee8 ar8 respondb￿ adequate 8rx#Junllry rec(*d5 that dl8ckne wlth reasonabl8 accuracy at
any tim8 the financial position of the Charity and enable them io ensu￿ that the financial Statements compty i*lth
the Companies Act 2W6. They we also reskwi&b* for safeguardiTrJ the assels cl the Charity and hence for taking
re8SOn8t4e st8p8 for the pre￿•t￿￿ and def¢th￿ offraud and other irrogul8rit*s.
Th1$ report has been Prepared kn aecordanc* th lh• Frfovlskn8 aF*4lcab￿ to wmpanth entmed to Ihe 8mall
ccffipanles. exernpdon.
e Trust88s' r8p(yt Was ¥FsYoved by the Bo8rd d Twsloes.
Mr R M Frtth FCA Ichaimianl
Date".
2023

THE LADY RYDER OF WARSAW MEMORIAL TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE LADY RYDER OF WARSAW MEMORIAL TRUST
I report to the Twslees on my examlnation of the finandal staterne￿ of The Lady Ryder Of Watsaw Mefflc￿al TTUSt
(the Charity) for the year endèd 28 Fet￿ary 2023.
Respon8lbllllles and bas18 of report
As the Tnjstees of the Charity land also ils dire(*￿3 for the puws of company lawl ￿ are responsible for the
FKeparation of Iho finan(#al StstW￿ts in a￿dan￿ with the requirements of the Comp8ni95 Act 2006 (the 2006
Ha￿ng sallsfied mysem that the financlal statements of the thrity are not requi￿ to be audited und8r Part 16 of
the 2006 Act and are eligibl& ftr irKlependenl •xaminalion, I report In respect of my examinatson of the Cl)arity's
finan¢i81 ststements ¢8rri8d out under S8c1M￿ 145 of tha Chants'es Act 2011 (the 2011 *£tl. In carying out my
8xaminobon I have al the 8FWic8bl& DirBd10￿ by the ch￿lty Comm1￿On under 145(5Mbl
of the 2011 Act.
Ind•P￿dent •xamln•e8 statsm•nt
I have completed my exBminats'on. I conflrm that no mott•B have ￿m0 to my att8ntSon In g)nn6¢*lon wlth the
examina￿0￿ glvlng rne cause to Wleve..
acc(wnlp)g records wer8 not kept in of the Chwity as requinl by Se￿1￿ 386 ofth$ 20{￿ Acl,. iy
the finan￿al statements do not a¢ryJnJ ￿th th088 rec¥Kd8: or
the flnancaal stat¥ments do not compty with the accounllng requiremwts of sectkn 396 of the 2006 Act other
than any requirement Ihat the aCc￿nIS gi￿ o true and fwT not o malter consldered 88 part of an
Ind￿ndant examlnallon.. or
the flnanclal ststemenls hBve ncrt been F*Bp8red in 8ux)rdance with th& m&thods and prfnclple$ ol the
Stslement of Rec0rnMend￿ Pr8cllce Icff accountlng 8nd rewting by c*arities 8PF4ic8ble lo chariUes
preparfnu thelr accounts in a(wdance lh8 Flnandal Rewdro Slandard apFllcable In the UK and
Republic of Irèland IFRS 1021.
I hBve no concerns and have ccffne across no mailers In w)nectKn wth the examination lo which attent￿n
should k dravm in thls r*pcNt In order to enable a proper underslanding of the ftn8nrAal statemenis to bg reached.
Robert Moore FCA
Independènt Examlner
BGM Hdmores Umlt•d
Emperols Gale
114a Cromwell Ro&J
Kensington
London
SW7 4AG

## **THE LADY RYDER OF WARSAW MEMORIAL TRUST** 

## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_ 

|**Unrestricted**<br>**Restricted**<br>**funds**<br>**funds**<br>**2023**<br>**2023**<br>**Notes**<br>**£**<br>**£**<br>**Income and endowments from:**<br>Donations and legacies<br>**2**<br>1,662<br>1,000<br>Investments<br>**3**<br>89,566<br>22,487<br>Other income<br>**4**<br>616<br>-<br>**Total income**<br>91,844<br>23,487<br>**Expenditure on:**<br>Raising funds<br>**5**<br>16,958<br>-<br>Charitable activities<br>**6**<br>126,452<br>56,188<br>**Total resources**<br>**expended**<br>143,410<br>56,188<br>Net gains/(losses) on<br>investments<br>**11**<br>(85,891)<br>(24,251)<br>**Net movement in funds**<br>(137,457)<br>(56,952)<br>Fund balances at 1<br>March 2022<br>2,814,508<br>782,940<br>**Fund balances at 28**<br>**February 2023**<br>2,677,051<br>725,988|**Total**<br>Unrestricted<br>funds<br>**2023**<br>2022<br>**£**<br>**£**<br>2,662<br>4,318<br>112,053<br>81,073<br>616<br>133<br>115,331<br>85,524<br>16,958<br>-<br>182,640<br>116,021<br>199,598<br>116,021<br>(110,142)<br>118,777<br>(194,409)<br>88,280<br>3,597,448<br>2,726,228<br>3,403,039<br>2,814,508|Restricted<br>funds<br>2022<br>**£**<br>3,099<br>20,991<br>-<br>24,090<br>-<br>22,609<br>22,609<br>34,454<br>35,935<br>747,005<br>782,940|Total<br>2022<br>**£**<br>7,417<br>102,064<br>133|
|---|---|---|---|
||||109,614|
||||-|
||||138,630|
||||138,630|
||||153,231|
||||124,215<br>3,473,233|
||||3,597,448|



The statement of financial activities includes all gains and losses recognised in the year. 

All income and expenditure derive from continuing activities. 

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. 

- 8 - 



THE LADY RYDER OF WARSAW MEMORIAL TRUST
BALANCE SHEET
AS Af 28 FEBRUARY 2023
Unaudlt•d
2022
2023
Ftxfjd a86•ts
Investments
Current a••ets
Dabt￿8
Cash at bank and In h¥KI
13
3.380.145
3,539,641
14
18.366
24.112
17,564
45,903
42.478
63,467
Cr•dltorn', *nounts falllng du• wlthln
on• y•ar
15
119.5841
15,660)
Nel current assets
57.807
Totsl au•ts18u currnnt Ilabllhlej
3.403.039
3,597,448
Incom• fvnd•
R¥sldd¥d funds
Unr¥strid•d fund8- general
16
725.988
2.677.051
782,940
2.814,508
3.41T3.039
3.597,448
Tho (x)mp8ny is 8ntitled to tho 8xwnpb.on frryn the re(BMT8n7wI c4)rt*n•d in 477 oftho Ctynpanies A
2(K16. for tho year end￿ 28 Febluary 2023.
Tho dkedc* a¢knovAedges re¥)c*)sibllli8s fty the requirements ofthe Compani*s Acl 2006
r8$￿Ct to acwjnting rocA¥(Is and Ihe preparation of f￿anG￿ stalwls.
The members have requlred tt* to otrtakn ￿ audk crf Ils fThnd81 $tèt0M￿ts for the year In quest
In aCt￿danC￿ wNh sedk>n 476.
Thesè financ¢al statements have been prepared in ac0Ydan￿ *ilh Ihè FfftiS•￿S aFplicabl8 to compani88 subje
to the small ￿)mpAnI&S regim8.
)Inandal ststements VIWE 8pwov￿I by the T￿￿teeS ...
Mr R M Frhh FCA ICh8lm8n)
r M E Cuiiing FCA (freasureTI
Tru•t••
Company Rgglstr¥llon No. 03935283

**THE LADY RYDER OF WARSAW MEMORIAL TRUST** 

## **NOTES TO THE  FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_ 

## **1 Accounting policies** 

## **Charity information** 

The Lady Ryder Of Warsaw Memorial Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Moorgate House, 7 Station Road West, Oxted, Surrey, RH8 9EE. 

## **1.1 Accounting convention** 

The accounts have been prepared in accordance with the Charity's governing document,  the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The Charity is a Public Benefit Entity as defined by FRS 102. 

The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. 

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. 

The accounts have been prepared under the historical cost convention, modified to include the revaluation of investments and certain financial instruments at fair value. The principal accounting policies adopted are set out below. 

## **1.2 Going concern** 

At the time of approving the accounts, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the accounts. 

## **1.3 Charitable funds** 

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. 

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 

## **1.4 Incoming resources** 

Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. 

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. 

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 

- 10 - 



## **THE LADY RYDER OF WARSAW MEMORIAL TRUST** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_ 

## **1 Accounting policies** 

## **(Continued)** 

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. 

## **1.5 Fixed asset investments** 

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date.  Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. 

## **1.6 Cash and cash equivalents** 

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 

## **1.7 Financial instruments** 

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. 

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument. 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 

## _**Basic financial assets**_ 

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 

## _**Basic financial liabilities**_ 

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. 

- 11 - 



## **THE LADY RYDER OF WARSAW MEMORIAL TRUST** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_ 

## **1 Accounting policies** 

## **(Continued)** 

## _**Derecognition of financial liabilities**_ 

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled. 

## **1.8 Taxation** 

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable activities. 

## **2 Donations and legacies** 

|**Unrestricted**<br>**Restricted**<br>**funds**<br>**funds**<br>**general**<br>**2023**<br>**2023**<br>**£**<br>**£**<br>Donations and gifts<br>753<br>1,000<br>Legacies receivable<br>909<br>-<br>1,662<br>1,000<br>**Legacies receivable**<br>Other<br>909<br>-<br>909<br>-<br>**Investments**<br>**Unrestricted**<br>**Restricted**<br>**funds**<br>**funds**<br>**general**<br>**2023**<br>**2023**<br>**£**<br>**£**<br>Income from listed<br>investments<br>89,566<br>22,487|**Total**<br>**Unrestricted**<br>**Restricted**<br>**funds**<br>**funds**<br>**general**<br>**2023**<br>**2022**<br>**2022**<br>**£**<br>**£**<br>**£**<br>1,753<br>1,033<br>3,099<br>909<br>3,285<br>-<br>2,662<br>4,318<br>3,099<br>909<br>3,285<br>-<br>909<br>3,285<br>-<br>**Total**<br>Unrestricted<br>Restricted<br>funds<br>funds<br>general<br>**2023**<br>2022<br>2022<br>**£**<br>£<br>£<br>112,053<br>81,073<br>20,991|**Total**<br>**2022**<br>**£**<br>4,132<br>3,285|
|---|---|---|
|||7,417|
|||3,285|
|||3,285|
|||Total<br>2022<br>£<br>102,064|



## **3 Investments** 

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## **THE LADY RYDER OF WARSAW MEMORIAL TRUST** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_ 

## **4 Other income** 

|||**Unrestricted **|**Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**general**|**general**|
|||**2023**|**2022**|
|||**£**|**£**|
||Other income|616|133|
|**5**|**Raising funds**|||
|||**Unrestricted**|**Total**|
|||**funds**||
|||**general**||
|||**2023**|**2022**|
|||**£**|**£**|
||Centenary Projects|16,958|-|
|||16,958|-|
|**6**|**Charitable activities**|||
|||**2023**|**2022**|
|||**£**|**£**|
||Grant funding of activities (see note 7)|132,895|91,431|
||Share of support costs (see note 8)|45,521|42,229|
||Share of governance costs (see note 8)|4,224|4,970|
|||182,640|138,630|
||**Analysis by fund**|||
||Unrestricted funds - general|126,452|116,021|
||Restricted funds|56,188|22,609|
|||182,640|138,630|
|**7**|**Grants payable**|||
||Educational grants|50,700|14,800|
||Humanitarian grants|82,195|123,044|
|||132,895|91,431|
||Total grants to institutions|132,895|91,431|



- 13 - 



## **THE LADY RYDER OF WARSAW MEMORIAL TRUST** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_ 

## **7 Grants payable** 

## **(Continued)** 

## **8 Support costs** 

|**Support**<br>**costs**<br>**Governance**<br>**costs**<br>**£**<br>**£**<br>Administrative costs<br>13,635<br>-<br>Miscellaneous costs<br>94<br>-<br>Website/Social media<br>3,324<br>-<br>Insurance costs<br>706<br>-<br>Postage and stationary<br>706<br>-<br>Investment management<br>fees<br>26,729<br>-<br>Bank charges<br>292<br>-<br>Legal and professional<br>35<br>-<br>Accountancy and<br>Independent examination<br>fee<br>**-**<br>4,224<br>Audit fee<br>-<br>-<br>45,521<br>4,224<br>Analysed between<br>Fundraising<br>-<br>-<br>-<br>Charitable activities<br>45,521<br>4,224|**2023**<br>**£**<br>13,635<br>94<br>3,324<br>706<br>706<br>26,729<br>292<br>35<br>4,224<br>-<br>49,745<br>49,745|**2022 Basis of allocation**<br>**£**<br>11,615<br>246<br>1,464<br>632<br>892<br>27,168<br>212<br>-<br>4,020<br>950 Governance<br>47,199<br>**-**<br>47,199|
|---|---|---|



## **9 Trustees** 

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year. No trustee expenses were incurred during the reporting period (2022: Nil) 

## **10 Employees** 

The average monthly head count/number of employees during the year was: 

||**2023**|**2022**|
|---|---|---|
||**Number**|**Number**|
|Total|-|-|



During the year to 28 February 2023 there were no employees who received employee benefits (excluding employer pension costs) of more that £60,000. 

- 14 - 



## **THE LADY RYDER OF WARSAW MEMORIAL TRUST** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_ 

## **11 Net gains/(losses) on investments** 

|**Unrestricted**<br>**Restricted**<br>**funds**<br>**funds**<br>**general**<br>**2023**<br>**2023**<br>**£**<br>**£**<br>Revaluation of<br>investments<br>(105,260)<br>(37,590)<br>Gain/(loss) on sale of<br>investments<br>19,369<br>13,339<br>(85,891)<br>(24,251)|**Total Unrestricted**<br>**Restricted**<br>**funds**<br>**funds**<br>**general**<br>**2023**<br>**2022**<br>**2022**<br>**£**<br>**£**<br>**£**<br>(142,850)<br>91,480<br>29,233<br>32,708<br>27,297<br>5,221<br>(110,142)<br>118,777<br>34,454|**Total**<br>**2022**<br>**£**<br>120,713<br>32,518|
|---|---|---|
|||153,231|



## **12 Taxation** 

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 

## **13 Fixed asset investments** 

|**Listed**<br>**investments**<br>**Listed**<br>**Investments**<br>**Restricted**<br>**£**<br>**£**<br>**Cost or valuation**<br>At 1 March 2022<br>2,776,805<br>762,837<br>Additions<br>296,287<br>85,514<br>Valuation changes<br>(105,260)<br>(37,590)<br>Adjustments<br>4,775<br>1,536<br>Disposals<br>(300,868)<br>(103,891)<br>At 28 February 2023<br>2,671,739<br>708,406<br>**Carrying amount**<br>At 28 February 2023<br>2,671,739<br>708,406<br>At 28 February 2022<br>2,776,805<br>762,837<br>**14**<br>**Debtors**<br>**2023**<br>**Amounts falling due within one year:**<br>**£**<br>Other debtors<br>18,366|**Total**<br>**£**<br>3,539,642<br>381,801<br>(142,850)<br>6,311<br>(404,759)|
|---|---|
||3,380,145|
||3,380,145|
||3,539,642|
||**2022**<br>**£**<br>17,564|



- 15 - 



## **THE LADY RYDER OF WARSAW MEMORIAL TRUST** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** 

## _**FOR THE YEAR ENDED 28 FEBRUARY 2023**_ 

## **15 Creditors: amounts falling due within one year** 

||**2023**|**2022**|
|---|---|---|
||**£**|**£**|
|Accruals|19,584|5,660|



## **16 Restricted funds** 

The Restricted Fund is for supporting charitable work in Poland. 

## **17 Analysis of net assets between funds** 

|**Analysis of net assets between funds**||
|---|---|
|**Unrestricted**<br>**funds**<br>**Restricted**<br>**funds**<br>**£**<br>**£**<br>Fund balances at 28 February 2023 are represented by:<br>Investments<br>2,671,739<br>708,406<br>Current assets/(liabilities)<br>5,312<br>17,582<br>2,677,051<br>725,988|**Total**<br>**£**<br>3,380,145<br>22,894|
||3,403,039|



## **18 Related party transactions** 

There were no disclosable related party transactions during the year (2022 - none). 

- 16 -