2022-04-05-accounts

THE BELLASIS TRUST

FINANCIAL STATEMENTS

YEAR ENDED 5 APRIL 2022

Registered Charity Number 1085972

THE BELLASIS TRUST

I N D E X

Year ended 5 April 2022

	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 2022

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

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THE BELLASIS TRUST

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

Year ended 5 April 2022

The trustees submit their report and accounts for the year ended 5 April 2022.

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 them to review the financial position 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 2022, investment income generated incoming resources of £49,418 (2021 - £37,682) and £35,380 (2021 - £34,030) was paid out to 35 (2021 - 21) 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

2023

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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 2022

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 2022.

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. Dixon Wilson, a firm of Chartered Accountants of which I am a partner has provided bookkeeping services to the Trust and I have applied the FRC’s Revised Ethical Standard in carrying out my examination.

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

2023

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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 2022

	Note	Unrestricted	Unrestricted
		Funds	Funds
		2022	2021
		£	£
Receipts
Incoming resources
Investment income:
Dividends		49,416	37,534
Deposit interest		2	148
		49,418	37,682
Sale of investments		-	201,920
Withdrawals from short term deposit account		124,000	-
Total incoming resources		173,418	239,602
Payments
Charitable activities:
Charitable donations	1	35,380	34,030
Purchase of investments		-	194,871
Governance costs:
Accountancy fees	2	168	6,857
Independent examination fee	2	-	1,000
Investment management fees		2,866	999
Other costs		430	310
		3,464	204,037
Total payments		38,844	238,067
Net incoming resources for the year		134,574	1,535
Cash funds at 5 April 2021		79,968	78,433
Cash funds at 5 April 2022(page 6)		214,542	79,968

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 2022

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	2022 £ 1,003,083 1,000 214,543 215,543 (2,260) 213,283 1,216,366 1,216,366	2021 £ 944,619 125,000 79,969 204,969 (2,260) 202,709 1,147,328 1,147,328

The receipts and payments accounts on pages 5 to 9 were approved by the trustees on 2023 and signed by:-

P C R WATES

A B T WATES

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 2022

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 2022

1. Charitable donations Countryside Alliance Dementia Support 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 The Children’s Trust WheelPower Alzheimer’s Research U.K. Game & Wildlife Conservation Trust The Brain Tumour Charity Lake District Calvert Trust St. John of Jerusalem Eye Hospital Group Painshill Park Trust Ditch the Label Other donations of £500 or less Total	2022 £ - - - - 3,000 2,900 500 3,750 4,280 5,250 - 1,500 750 700 750 1,500 750 1,000 1,000 7,750 35,380	2021 £ 1,000 1,500 5,000 1,000 3,250 2,900 1,000 3,750 4,780 5,250 2,000 - - - - - - - - 2,400 34,030
2. Accountancy and professional fees Accountancy fees Independent examiner’s fee	2022 £ 168 - 168	2021 £ 6,857 1,000 7,857

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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 2022

3. Investments The trustees’ investments were made up as follows: Market value at 5 April 2022 £ Cazenove Investment Portfolio 1,003,083 Movement in fixed asset investments Market value Market value at 6 April 2021 Additions Disposals Realised gain on disposals Net unrealised gain on revaluation Market value at 5 April 2022 Investments at market value consist of UK listed investments At 5 April 2022

% of total investments 100% £ 944,619 - - - 58,464 1,003,083 1,003,083 1,003,083 2022 2021 £ £ 1,760 1,760 500 500 2,260 2,260

4. Creditors: amounts falling due within one year Accountancy fees Independent examiner’s fee

2022 £ 1,760 500 2,260

5. Trustees’ remuneration and expenses

Whilst none of the trustees received any remuneration or reimbursement of expenses during the year, Mrs Helen Ellis-Smith, a person employed by a company of which some of the Trustees are shareholders, received a £250 donation towards her husband’s climb of Mount Everest to raise funds for their son’s school.

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