**REGISTERED CHARITY NUMBER: 1082868**
**Report of the Trustees and**
**Unaudited Financial Statements for the Year Ended 31 October 2020**
**for**
**The Nani Huyu Charitable Trust**
MHA Monahans Chartered Accountants Fortescue House Court Street Trowbridge Wiltshire BA14 8FA
**The Nani Huyu Charitable Trust**
## **Contents of the Financial Statements for the Year Ended 31 October 2020**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|2|
|**Independent Examiner's Report**||3||
|**Statement of Financial Activities**||4||
|**Balance Sheet**||5||
|**Notes to the Financial Statements**|6|to|10|
**The Nani Huyu Charitable Trust**
## **Report of the Trustees**
## **for the Year Ended 31 October 2020**
The trustees present their report with the financial statements of the charity for the year ended 31 October 2020. 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 to assist people who are underprivileged, disadvantaged or ill, young people in matters of health, accommodation and training and those requiring assistance or medical care at the end of their lives, principally within Bristol and its surroundings.
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aims and objectives and in planning the future activities.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
During the year ended 31 October 2020 the trustees distributed £200,000 (2019: £190,472) in accordance with the objectives of the trust.
## **FINANCIAL REVIEW**
## **Reserves policy**
The balance held in unrestricted reserves at 31 October 2020 was £4,674,089 (2019: £5,929,940). The reserves are mainly represented by investments which are held to generate income to provide funding for grants payable.
The trust has received donations of £2,901,739 since its creation on 25 July 2000. These funds have been invested and at 31 October 2020 had a market value of £4,391,571 (2019: £5,674,080).
## **FUTURE PLANS**
The trustees intend to seek to maintain the capital of the fund intact as far as possible whilst generating sufficient income to satisfy the underlying objects of the charity.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
## **Recruitment and appointment of new trustees**
The procedure for recruiting new trustees when required is that the existing trustees approach suitable individuals. New trustees are appointed in accordance with the Trust Deed by resolution of the trustees.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1082868
## **Principal address**
33 Ash Lane Wells Somerset BA5 2LR
## **Trustees**
B C Whitmore M E Whitmore C W H Thatcher S Webb J F Wilson L A Walford
Page 1
**The Nani Huyu Charitable Trust**
## **Report of the Trustees for the Year Ended 31 October 2020**
**REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner** James Gare FCA DChA MHA Monahans Chartered Accountants Fortescue House Court Street Trowbridge Wiltshire BA14 8FA
Approved by order of the board of trustees on 28 July 2021 and signed on its behalf by:
M E Whitmore - Trustee
Page 2
## **Independent Examiner's Report to the Trustees of The Nani Huyu Charitable Trust**
## **Independent examiner's report to the trustees of The Nani Huyu Charitable Trust**
I report to the charity trustees on my examination of the accounts of The Nani Huyu Charitable Trust (the Trust) for the year ended 31 October 2020.
## **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.
James Gare FCA DChA MHA Monahans Chartered Accountants Fortescue House Court Street Trowbridge Wiltshire BA14 8FA
10 August 2021
Page 3
**The Nani Huyu Charitable Trust**
## **Statement of Financial Activities**
## **for the Year Ended 31 October 2020**
|Notes
**INCOME AND ENDOWMENTS FROM**
Investment income
2
**EXPENDITURE ON**
**Charitable activities**
3
Charitable distributions
Net gains/(losses) on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|2020
Unrestricted
fund
£
225,235
201,448
(1,279,638)
(1,255,851)
5,929,940
4,674,089|2019
Total
funds
£
208,702
191,832
127,183|
|---|---|---|
|||144,053
5,785,887|
|||5,929,940|
The notes form part of these financial statements
Page 4
**The Nani Huyu Charitable Trust**
## **Balance Sheet 31 October 2020**
|Notes
**FIXED ASSETS**
Investments
9
**CURRENT ASSETS**
Cash at bank
**CREDITORS**
Amounts falling due within one year
10
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
**FUNDS**
11
Unrestricted funds
**TOTAL FUNDS**|2020
Unrestricted
fund
£
4,391,571
283,970
(1,452)
282,518
4,674,089
4,674,089
4,674,089
4,674,089|2019
Total
funds
£
5,674,080
257,246
(1,386)
255,860
5,929,940
5,929,940
5,929,940
5,929,940|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 28 July 2021 and were signed on its behalf by:
M E Whitmore - Trustee
B C Whitmore - Trustee
The notes form part of these financial statements
Page 5
**The Nani Huyu Charitable Trust**
## **Notes to the Financial Statements for the Year Ended 31 October 2020**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The Nani Huyu Charitable Trust is an unincorporated charity in England. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity's operations and principal activities are to assist people who are underprivileged, disadvantaged or ill, young people in matters of health, accommodation and training and those requiring assistance or medical care at the end of their lives, principally within Bristol and its surroundings.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Practice.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following the 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) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## **Going concern**
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist after considering the level of funds held and the expected level of income and expenditure for a period of 12 months from the date of approval of these financial statements.
## **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.
## **Expenditure**
Liabilities are recognised as expenditure 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.
## **Charitable activities**
Costs of charitable activities include grants made and related support costs.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
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.
## **Investment assets**
Investment assets are stated at the market value at the balance sheet date. Any gain or loss on revaluation is taken to the Statement of Financial Activities.
Page 6
continued...
**The Nani Huyu Charitable Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 October 2020**
|**2.**
**INVESTMENT INCOME**
Income from investment portfolio
**3.**
**CHARITABLE ACTIVITIES COSTS**
Charitable distributions
**4.**
**GRANTS PAYABLE**
Charitable distributions
The total grants paid to institutions during the year was as follows:
Cerebal Palsy Plus
Room 13 Hareclive
Somerset Community Foundation
Resolve West
Kinergy
Wellspring Counselling
The Harbour
Princes Trust
Young Bristol
Quartet Community Foundation
Young Carers
Womankind
Age UK Somerset
Age UK Bath
Jessie May
Brain Tumour Support
Southside
Barton Camp
Total Charitable Distributions
**5.**
**SUPPORT COSTS**
Charitable distributions|Grant
funding of
activities
(see note
4)
£
200,000|2020
£
225,235
Support
costs (see
note 5)
£
1,448
2020
£
200,000||2019
£
208,702
Totals
£
201,448
2019
£
190,472|
|---|---|---|---|---|
|||||£|
||||||
|||||2,000|
|||||2,000|
|||||8,000|
|||||16,000|
|||||14,000|
|||||15,000|
|||||13,000|
|||||12,000|
|||||18,000|
|||||2,000|
|||||16,000|
|||||23,000|
|||||5,000|
|||||5,000|
|||||12,000|
|||||11,000|
|||||20,000|
|||||6,000|
||||||
||||||
|||||200,000|
||||||
||Governance
Finance
costs
£
£
36
1,412|||Totals
£
1,448|
Page 7
continued...
**The Nani Huyu Charitable Trust**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 31 October 2020**
## **6. INDEPENDENT EXAMINER'S FEE**
||2020|2019|
|---|---|---|
||£|£|
||||
|Independent examiner's fee|1,412|1,293|
||||
## **7. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 October 2020 nor for the year ended 31 October 2019.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 October 2020 nor for the year ended 31 October 2019.
## **Key management personnel remuneration**
The charity considers its key management personnel comprise the trustees. No employee benefits were received by key management personnel.
## **8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
## **9.**
|**INCOME AND ENDOWMENTS FROM**
Investment income
**EXPENDITURE ON**
**Charitable activities**
Charitable distributions
Net gains on investments
**NET INCOME**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**
**FIXED ASSET INVESTMENTS**|**INCOME AND ENDOWMENTS FROM**
Investment income
**EXPENDITURE ON**
**Charitable activities**
Charitable distributions
Net gains on investments
**NET INCOME**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**
**FIXED ASSET INVESTMENTS**|**INCOME AND ENDOWMENTS FROM**
Investment income
**EXPENDITURE ON**
**Charitable activities**
Charitable distributions
Net gains on investments
**NET INCOME**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**
**FIXED ASSET INVESTMENTS**|**INCOME AND ENDOWMENTS FROM**
Investment income
**EXPENDITURE ON**
**Charitable activities**
Charitable distributions
Net gains on investments
**NET INCOME**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**
**FIXED ASSET INVESTMENTS**|Unrestricted
fund
£
208,702
191,832
127,183|
|---|---|---|---|---|
|||||144,053
5,785,887|
|||||5,929,940|
||||||
|**MARKET VALUE**
At 1 November 2019
Additions
Disposals
Net gains on revaluation
At 31 October 2020
**NET BOOK VALUE**
At 31 October 2020
At 31 October 2019|Listed
investments
£
4,205,405
1,403,240
-
(1,279,638)
4,329,007
4,329,007
4,205,405|Cash and
settlements
pending
£
1,468,675
227,740
(1,633,851)
-
62,564
62,564
1,468,675|Totals
£
5,674,080
1,630,980
(1,633,851)
(1,279,638)
4,391,571
4,391,571
5,674,080||
|**FIXED ASSET INVESTMENTS**||||
|---|---|---|---|
|||Cash and||
||Listed|settlements||
||investments|pending|Totals|
||£|£|£|
|**MARKET VALUE**||||
|At 1 November 2019|4,205,405|1,468,675|5,674,080|
|Additions|1,403,240|227,740|1,630,980|
|Disposals|-|(1,633,851)|(1,633,851)|
|Net gains on revaluation|(1,279,638)|-|(1,279,638)|
|At 31 October 2020|4,329,007|62,564|4,391,571|
|**NET BOOK VALUE**||||
|At 31 October 2020|4,329,007|62,564|4,391,571|
|At 31 October 2019|4,205,405|1,468,675|5,674,080|
Page 8
continued...
**The Nani Huyu Charitable Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 October 2020**
## **9. FIXED ASSET INVESTMENTS - continued**
There were no investment assets outside the UK.
## **10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Accrued expenses
**11.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
225,235
**TOTAL FUNDS**
225,235
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**TOTAL FUNDS**|At
1.11.19
£
5,929,940
5,929,940
Resources
expended
£
(201,448)
(201,448)
At
1.11.18
£
5,785,887
5,785,887|2020
£
1,452
Net
movement
in funds
£
(1,255,851)
(1,255,851)
Gains and
losses
£
(1,279,638)
(1,279,638)
Net
movement
in funds
£
144,053
144,053|2019
£
1,386
At
31.10.20
£
4,674,089|2019
£
1,386|
|---|---|---|---|---|
||||4,674,089||
||||Movement
in funds
£
(1,255,851)||
||||(1,255,851)||
||||At
31.10.19
£
5,929,940||
||||5,929,940||
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
208,702
208,702|Resources
expended
£
(191,832)
(191,832)|Gains and
Movement
losses
in funds
£
£
127,183
144,053
127,183
144,053|Gains and
Movement
losses
in funds
£
£
127,183
144,053
127,183
144,053|
|---|---|---|---|---|
|||||144,053|
Page 9
continued...
**The Nani Huyu Charitable Trust**
## **Notes to the Financial Statements - continued for the Year Ended 31 October 2020**
## **12. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 October 2020.
Page 10