REGISTERED CHARITY NUMBER: 1082868
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 October 2021
for
The Nani Huyu Charitable Trust
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 2021
| 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 2021
The trustees present their report with the financial statements of the charity for the year ended 31 October 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
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 2021 the trustees distributed £196,000 (2020: £200,000) in accordance with the objectives of the trust.
FINANCIAL REVIEW
Reserves policy
The balance held in unrestricted reserves at 31 October 2021 was £5,972,440 (2020: £4,674,089). 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 2021 had a market value of £5,704,239 (2020: £4,391,571).
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
Independent Examiner
James Gare FCA DChA Monahans Chartered Accountants Fortescue House Court Street Trowbridge Wiltshire BA14 8FA
Page 1
The Nani Huyu Charitable Trust
Report of the Trustees for the Year Ended 31 October 2021
Approved by order of the board of trustees on 15 August 2022 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 2021.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
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
-
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 Monahans Chartered Accountants Fortescue House Court Street Trowbridge Wiltshire BA14 8FA
16 August 2022
Page 3
The Nani Huyu Charitable Trust
Statement of Financial Activities
for the Year Ended 31 October 2021
| Notes INCOME AND ENDOWMENTS FROM Investment income 2 EXPENDITURE ON Raising funds 3 Charitable activities 4 Charitable distributions Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2021 Unrestricted fund £ 191,302 2,017 197,571 199,588 1,306,637 1,298,351 4,674,089 5,972,440 |
2020 Total funds £ 225,235 - 201,448 201,448 (1,279,638) (1,255,851) 5,929,940 4,674,089 |
|---|---|---|
The notes form part of these financial statements
Page 4
The Nani Huyu Charitable Trust
Balance Sheet
31 October 2021
| Notes FIXED ASSETS Investments 10 CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 11 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 12 Unrestricted funds TOTAL FUNDS |
2021 Unrestricted fund £ 5,704,239 269,798 (1,597) 268,201 5,972,440 5,972,440 5,972,440 5,972,440 |
2020 Total funds £ 4,391,571 283,970 (1,452) 282,518 4,674,089 4,674,089 4,674,089 4,674,089 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 15 August 2022 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 2021
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 2021
| 2. INVESTMENT INCOME Income from investment portfolio 3. RAISING FUNDS Investment management costs Portfolio management 4. CHARITABLE ACTIVITIES COSTS Charitable distributions 5. 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 Bristol Children's Help Society Total Charitable Distributions |
Grant funding of activities (see note 5) £ 196,000 |
2021 £ 191,302 2021 £ 2,017 Support costs (see note 6) £ 1,571 2021 £ 196,000 |
2020 £ 225,235 2020 £ - Totals £ 197,571 2020 £ 200,000 |
|
|---|---|---|---|---|
| £ | ||||
| 2,000 | ||||
| 2,000 | ||||
| 7,000 | ||||
| 16,000 | ||||
| 14,000 | ||||
| 15,000 | ||||
| 13,000 | ||||
| 10,000 | ||||
| 18,000 | ||||
| 2,000 | ||||
| 16,000 | ||||
| 23,000 | ||||
| 5,000 | ||||
| 5,000 | ||||
| 10,000 | ||||
| 11,000 | ||||
| 20,000 | ||||
| 7,000 | ||||
| 196,000 | ||||
Page 7
continued...
The Nani Huyu Charitable Trust
Notes to the Financial Statements - continued
for the Year Ended 31 October 2021
6. SUPPORT COSTS
| SUPPORT COSTS | SUPPORT COSTS | SUPPORT COSTS | SUPPORT COSTS | SUPPORT COSTS | SUPPORT COSTS |
|---|---|---|---|---|---|
| Governance Finance costs Totals £ £ £ Charitable distributions 22 1,549 1,571 INDEPENDENT EXAMINER'S FEE |
|||||
| 2020 | 2019 | ||||
| £ | £ | ||||
| Independent examiner's fee | 1,412 | 1,293 | |||
7. INDEPENDENT EXAMINER'S FEE
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 October 2021 nor for the year ended 31 October 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 October 2021 nor for the year ended 31 October 2020.
Key management personnel remuneration
The charity considers its key management personnel comprise the trustees. No employee benefits were received by key management personnel.
9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Investment income EXPENDITURE ON Charitable activities Charitable distributions Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 225,235 201,448 (1,279,638) (1,255,851) 5,929,940 4,674,089 |
|---|---|
Page 8
continued...
The Nani Huyu Charitable Trust
Notes to the Financial Statements - continued
for the Year Ended 31 October 2021
10. FIXED ASSET INVESTMENTS
| MARKET VALUE At 1 November 2020 Additions Disposals Net gains on revaluation At 31 October 2021 NET BOOK VALUE At 31 October 2021 At 31 October 2020 There were no investment assets outside the UK. Cost or valuation at 31 October 2021 is represented by: Valuation in 2021 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accrued expenses 12. 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 191,302 TOTAL FUNDS 191,302 |
Listed investments £ 4,329,007 3,727 - 1,306,637 5,639,371 5,639,371 4,329,007 Listed investments £ 5,639,371 At 1.11.20 £ 4,674,089 4,674,089 Resources expended £ (199,588) (199,588) |
Cash and settlements pending £ 62,564 191,783 (189,479) - 64,868 64,868 62,564 Cash and settlements pending £ 64,868 2021 £ 1,597 Net movement in funds £ 1,298,351 1,298,351 Gains and losses £ 1,306,637 1,306,637 |
Totals £ 4,391,571 195,510 (189,479) 1,306,637 5,704,239 5,704,239 4,391,571 Totals £ 5,704,239 2020 £ 1,452 At 31.10.21 £ 5,972,440 5,972,440 Movement in funds £ 1,298,351 1,298,351 |
|---|---|---|---|
Page 9
continued...
The Nani Huyu Charitable Trust
Notes to the Financial Statements - continued
for the Year Ended 31 October 2021
12. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.11.19 £ Unrestricted funds General fund 5,929,940 TOTAL FUNDS 5,929,940 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 225,235 (201,448) TOTAL FUNDS 225,235 (201,448) |
Net movement in funds £ (1,255,851) (1,255,851) Gains and losses £ (1,279,638) (1,279,638) |
At 31.10.20 £ 4,674,089 4,674,089 Movement in funds £ (1,255,851) (1,255,851) |
|---|---|---|
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 October 2021.
Page 10