## **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
3
## **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
4
## **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.
5
## **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
6
## **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**
**£**
_-_
_-_
_-_
|
8
## **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.
9