2021-04-05-accounts

THE BELLASIS TRUST

FINANCIAL STATEMENTS

YEAR ENDED 5 APRIL 2021

Registered Charity Number 1085972

THE BELLASIS TRUST

I N D E X

Year ended 5 April 2021

	Page
General information	2
Annual report	3
Independent examiner’s report	4
Statement of receipts and payments	5
Statement of assets and liabilities	6
Accounting policies	7
Notes to the financial statements	8

1

THE BELLASIS TRUST

G E N E R A L I N F O R M A T I O N

Year ended 5 April 2021

Established by Deed	29 December 2000
Trustees	P C R Wates
	A B T Wates
	A L M Elliot
Registered charity number	1085972
Principal office	Wates House
	Station Approach
	Leatherhead
	Surrey
	KT22 7SW
Trust summary	The charity was established by a deed dated 29 December 2000.
	The income and capital of the charity is held by the trustees for
	such persons as the trustees see fit, and in particular it is the
	intention of the trustees to support local charities for
	disadvantaged persons.
Independent examiner	D C Mellor ACA CTA
	Dixon Wilson
	22 Chancery Lane
	London
	WC2A 1LS
Bankers	C. Hoare & Co.
	37 Fleet Street
	London
	EC4P 4DQ

2

THE BELLASIS TRUST

A N N U A L R E P O R T

Year ended 5 April 2021

The trustees submit their report and accounts for the year ended 5 April 2021.

A summary of general information is presented on page 2, and should be read in conjunction with this report.

Trustees

The trustees who have served during the year are those shown on page 2. New trustees are recommended by one or more of the existing trustees, and their appointment is considered by the other trustees. The trustees have the power to invest as they think fit any funds not immediately required.

Objects

The object of the trust as set out in the Trust Deed is to apply the trust funds, at the trustees’ absolute discretion, to any charitable body, association, or organisation in the United Kingdom for charitable purposes, and it is the intention of the trustees to support local charities for disadvantaged young people.

There have been no changes in these policies since the last annual report.

Risk management

The trustees have examined the major strategic, business, and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to minimise the potential impact of these risks.

Public benefit

The trustees, having regard to the public benefit guidance published by the Charity Commission in accordance with section 17 of the Charities Act 2011, consider that the purpose and activities of the charity satisfy the requirements of the public benefit test set out in section 4 of the same act.

Organisation

The charity is governed by its trustees who may exercise all the powers contained within the trust deed. The management of the financial affairs of the charity is overseen by the trustees.

Reserves

The trustees have determined that the donation of £604,392 received from the Langton Trust on 10 April 2001 should be retained. The unexpended net income generated from this gift is available for future donations, and is retained by the trustees until suitable donees are identified.

Review of the year

In the year to 5 April 2021, investment income generated incoming resources of £37,682 (2020 - £48,793) and £34,030 (2020 - £61,361) was paid out to 21 (2020 - 32) different causes. Incoming and outgoing resources for the year are set out in the Statement of receipts and payments on page 5.

In the opinion of the trustees, the charity’s general progress is satisfactory.

Financial statements

These are set out on pages 5 to 9. They have been drawn up in compliance with the relevant provisions of the Charities Act 2011, and with the Trust Deed.

For and on behalf of the trustees

P C R WATES 4 February 2022

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THE BELLASIS TRUST

I N D E P E N D E N T E X A M I N E R ’ S R E P O R T

Year ended 5 April 2021

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BELLASIS TRUST

I report to the trustees on my examination of the accounts of the Trust for the year ended 5 April 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’). You are satisfied that an audit is not required for this year under charity law and that an independent examination is needed.

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters than an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the accounts present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.

Independent examiner’s statement

I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.

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.

I have no concerns and have come across no 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.

D C Mellor ACA CTA Dixon Wilson 22 Chancery Lane London WC2A 1LS 04 February 2022

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THE BELLASIS TRUST

S T A T E M E N T O F R E C E I P T S A N D P A Y M E N T S

Year ended 5 April 2021

	Note	Unrestricted	Unrestricted
		Funds	Funds
		2021	2020
		£	£
Receipts
Incoming resources
Investment income:
Dividends		37,534	48,098
Deposit interest		148	695
		37,682	48,793
Sale of investments		201,920	138,836
Total incoming resources		239,602	187,629
Payments
Charitable activities:
Charitable donations	1	34,030	61,361
Purchase of investments		194,871	133,846
Governance costs:
Accountancy fees	2	6,857	-
Independent examination fee	2	1,000	-
Investment management fees		999	654
Other costs		310	20
		204,037	134,520
Total payments		238,067	195,881
Net incoming/(outgoing) resources for the year		1,535	(8,252)
Cash funds at 5 April 2020		78,433	86,685
Cash funds at 5 April 2021(page 6)		79,968	78,433

All amounts are in respect of continuing operations.

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THE BELLASIS TRUST

S T A T E M E N T O F A S S E T S A N D L I A B I L I T I E S

At 5 April 2021

Note Fixed assets Investments at market value 3 Current assets Short term deposit Cash at bank and in hand (page 5) Creditors: amounts falling due within one year 4 Net current assets Net assets Unrestricted fund	2021 £ 944,619 125,000 79,968 204,968 (2,260) 202,708 1,147,327 1,147,327	2020 £ 764,876 125,000 78,433 203,433 (2,260) 201,173 966,049 966,049

The receipts and payments accounts on pages 5 to 9 were approved by the trustees on 2022 4 February and signed by:-

Paul Wates

P C R WATES

Annette Wates

A B T WATES

Annabelle Elliot

A L M ELLIOT

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THE BELLASIS TRUST

A C C O U N T I N G P O L I C I E S

Year ended 5 April 2021

The financial statements have been prepared in accordance with applicable accounting standards. The particular accounting policies adopted are described below.

Basis of accounting

The accounts have been prepared on a receipts and payments basis.

Investments

Investments are included in the Statement of Assets and Liabilities at their market value.

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THE BELLASIS TRUST

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 5 April 2021

1. Charitable donations Countryside Alliance Crawley Open House Dementia Support FSET (The Foundation for Social and Economic Thinking) King College Hospital Charity Liver Appeal Mail Force Charity Mickleham PCC National Gallery Trust QEF Royal Botanical Gardens Kew Royal Horticultural Society Royal Opera House Covent Garden Foundation Sigh for Surrey St John Ambulance The Children’s Trust The Country Food Trust William Wates Memorial Trust Other donations of £500 or less Total	2021 £ 1,000 - 1,500 - 5,000 1,000 3,250 2,900 1,200 3,750 4,780 5,250 - - 2,000 - - 2,400 34,030	2020 £ 1,000 5,000 - 1,000 - - 3,000 2,900 - 4,325 4,280 5,250 600 14,000 4,606 7,500 1,000 6,900 61,361
2. Accountancy and professional fees Accountancy fees Independent examiner’s fee	2021 £ 6,857 1,000 7,857	2020 £ - - -

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THE BELLASIS TRUST

N O T E S T O T H E F I N A N C I A L S T A T E M E N T S

Year ended 5 April 2021

3. Investments The trustees’ investments were made up as follows: Market value at 5 April 2021 £ Cazenove Investment Portfolio 944,619 Movement in fixed asset investments Market value At 6 April 2020 Additions Disposals Realised gain on disposals Net unrealised losses on revaluation At 5 April 2021 Investments at market value consist of UK listed investments At 5 April 2021	% of total investments 100% £ 764,876 194,871 (201,920) 65,084 121,708 944,619 944,619 944,619 2021 2020 £ £ 1,760 1,760 500 500 2,260 2,260
4. Creditors: amounts falling due within one year Accountancy fees Independent examiner’s fee	2021 £ 1,760 500 2,260

5. Trustees’ remuneration and expenses

Neither the trustees nor any person connected with them received any remuneration or reimbursement of expenses during the year.

6. Related party disclosures

During the year donations totalling £0 (2020 - £1,000) were made to the William Wates Memorial Trust. One of the trustees of the William Wates Memorial Trust is a close family member of a trustee of the Bellasis Trust. There were no specific terms or conditions attached to the donations made.

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