**Charity Registration No. 1085795**
## **THE GILLIAN CAMPBELL TRUST**
## **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 AUGUST 2020**
## **THE GILLIAN CAMPBELL TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Mrs E Jones Mr J C Salisbury (Appointed 17 December 2019) **Charity number** 1085795 **Principal address** Old House Pwllycrochan Avenue Colwyn Bay Wales LL29 7BT **Independent examiner** McLintocks (NW) Limited 2 Hilliards Court Chester Business Park Chester Cheshire CH4 9PX **Solicitors** Pothecary Witham Weld 70 St Georges Square London SW18 3RD
## **THE GILLIAN CAMPBELL TRUST**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the financial statements|6 - 8|
## **THE GILLIAN CAMPBELL TRUST**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 AUGUST 2020**_
The trustees present their report and financial statements for the year ended 31 August 2020.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Charities Act 2011 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) (effective 1 January 2019)".
## **Objectives and activities**
The charity’s objectives are to provide assistance with fees and support costs for girls who would otherwise be unable to be or remain students at Rydal Penrhos. Support may also be provided to girls who, on leaving the school, wish to continue studying in a manner approved of by the trustees, but who would, in the opinion of the trustees, be unable to do so without the help of The Gillian Campbell Trust.
The charity seeks to benefit the public by supporting the charitable objectives of Rydal Penrhos ‘to advance education and learning’ by the provision of these scholarships.
The t rustees have given due consideration to the Charity Commission’s general guidance on public benefit.
## **Risk management**
The trustees are satisfied that the risks to which the trust is exposed are minimal, but are monitoring those risks in order to ensure that they continue to be mitigated to an acceptable level.
## **Achievements and performance**
Scholarships amounting to £ 1 8, 352 (201 9 : £ 28 , 990 ) have been provided during the year, enabling a number of pupils to continue their studies at Rydal Penrhos.
## **Financial review**
The results for the year are shown in the Statement of Financial Activities. The accounts show an overall profit of £35,440 (2019: deficit £67,522) for the year. This includes unrealised losses on stock market investments of £Nil (2019: £40,839).
## **Reserves policy**
Free reserves at 31 August 2020 amount to £419,993 which is significantly more than that needed to meet its current obligations. The trustees continue to best utilise the funds within the objects of the trust.
## **Future Plans**
The continuation of the provision of assistance in accordance with the Trust's objectives.
## **Structure, governance and management**
## **Constitution**
The charity was constituted under a trust deed dated 18 December 1958, as amended by a scheme of arrangement sealed on 8th December 2000.
## **Governing body**
A list of the trustees of the charity during the year and since the year end is shown on the legal and administrative information page . Trustees are nominated and elected by the governors of Rydal Penrhos Limited. Newly elected trustees receive training through Rydal Penrhos Limited.
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## **THE GILLIAN CAMPBELL TRUST**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **Investment powers, policy and performance**
The trustees are empowered under the trust deed to make any investments they believe to be beneficial to the advancement of the charity’s objects.
The trustees’ policy is to maximise the return on the value of its investments whilst at the same time preserving the real value of the investment portfolio. The trustees manage the portfolio with the assistance and guidance from the investment advisors.
The portfolio has performed largely in line with the FTSE All Share Index.
The trustees' r eport was approved by the Board of Trustees.
## **Mr J C Salisbury**
Trustee Dated: 25 May 2021
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## **THE GILLIAN CAMPBELL TRUST**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GILLIAN CAMPBELL TRUST**
I report to the trustees on my examination of the financial statements of The Gillian Campbell Trust (the charity) for the year ended 31 August 2020.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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 that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements 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 financial statements to be reached.
Michael Caputo FCA McLintocks (NW) Limited 2 Hilliards Court Chester Business Park Chester Cheshire CH4 9PX
Dated: 25 May 2021
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## **THE GILLIAN CAMPBELL TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
|||**Unrestricted**|Unrestricted|
|---|---|---|---|
|||**funds**|funds|
|||**2020**|2019|
||**Notes**|
**£**|**£**|
|**Income from:**||||
|Investments|**2**|12,671|3,300|
|**Expenditure on:**||||
|Charitable activities|**3**|(22,769)|
29,983|
|Net gains/(losses) on investments||-|(40,839)|
|**Net movement in funds**||35,440|(67,522)|
|Fund balances at 1 September 2019||384,553|452,075|
|**Fund balances at 31 August 2020**||419,993|384,553|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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## **THE GILLIAN CAMPBELL TRUST**
## **BALANCE SHEET**
## _**AS AT 31 AUGUST 2020**_
|**Notes**
**Current assets**
Debtors
**7**
**Creditors: amounts falling due within**
**one year**
**8**
Net current assets
**Income funds**
Unrestricted funds|**2020**
**£**
419,993
-|**£**
419,993
419,993
419,993|**2019**
**£**
385,403
(850)|**£**
384,553
384,553
384,553|
|---|---|---|---|---|
The financial statements were approved by the Trustees on 25 May 2021
Mr J C Salisbury **Trustee**
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**THE GILLIAN CAMPBELL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **1 Accounting policies**
## **Charity information**
The Gillian Campbell Trust is a Charity registered with the Charity Commission in England & Wales (10857950. The principle address is Rydal Penrhos, Pwllycrochan Avenueue, Colwyn Bay, LL29 7BT.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 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) (effective 1 January 2019)". 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 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include 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 financial statements, 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 financial statements.
## **1.3 Charitable funds**
The Unrestricted Funds represents funds available for use at the discretion of the Trustees in furtherance of the objects of the charity and which have not been designated for other purposes.
## **1.4 Income**
Income is accounted for on a receivable basis, and includes all relevant tax credits.
## **1.5 Expenditure**
Expenditure is accounted for on an accruals basis where there is a legal and constructive obligation to make a payment to a third party.
## **1.6 Cash and cash equivalents**
Cash represents cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
## **1.7 Debtors**
Debtors are recognised at the settlement amount due for the provision of services delivered. Prepayments are recognised at the amount prepaid or the amount that has paid in advance.
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## **THE GILLIAN CAMPBELL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **1 Accounting policies**
## **(Continued)**
## **1.8 Creditors**
Creditors are recognised where the fund has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured reliably, amounts are recognised at their settlement amount.
## **2 Investments**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2020**|2019|
||**£**|£|
|Income from listed investments|-|3,300|
|Interest receivable|12,671|-|
||12,671|3,300|
|**Charitable activities**|||
||**The Gillian**|**The Gillian**|
||**Campbell**|**Campbell**|
||**Trust**|**Trust**|
||**2020**|**2019**|
||**£**|**£**|
|Scholarships|18,352|29,983|
|Scholarships adjusted from prior years|(43,571)|
-|
||(25,219)|
29,983|
|Share of governance costs (see note 4)|2,450|-|
||(22,769)|
29,983|
## **3 Charitable activities**
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## **THE GILLIAN CAMPBELL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **4 Support costs**
|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Audit fees
-
2,450
-
2,450
Analysed between
Charitable activities
-
2,450|**2020**
**£**
2,450
2,450
2,450|Support
costs
Governance
costs
£
£
-
-
-
-
-
-|2019
£
-
-
-|
|---|---|---|---|
## **5 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **6 Employees**
The charity has no employees.
## **7 Debtors**
|**Amounts falling due within one year:**
Amounts owed by fellow group undertakings
**8**
**Creditors: amounts falling due within one year**
Accruals and deferred income|**2020**
**£**
419,993
**2020**
**£**
-|**2019**
**£**
385,403
**2019**
**£**
850|
|---|---|---|
## **9 Related party transactions**
Amounts due from Rosa Hovey Scholarship Trust amount to £146 (2019: £146).
Amounts due from Rydal Penrhos Limited amount to £419,847 (2019: £385,257)
## **10 Ultimate controlling party**
The beneficial owner is Rydal Penrhos Limited, a company registered in England and Wales (Company No.3294434) and a registered charity (Charity No. 1063489) who’s registered address is Old House, Pwllycrochan Avenue, Colwyn Bay, Wales, LL29 7BT.
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