CHARITY REGISTERED NUMBER: 1087863
THE FREDERICK & PHYLLIS CANN CHARITABLE
TRUST
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021
MOORE CHARTERED ACCOUNTANTS OAKLEY HOUSE HEADWAY BUSINESS PARK 3 SAXON WAY WEST CORBY NORTHAMPTONSHIRE NN18 9EZ
THE FREDERICK & PHYLLIS CANN CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
| Registered Charity Number: | 1087863 |
|---|---|
| Chairman: | KG Panter |
| Trustees: | |
| K G Panter | |
| M J Percival | |
| P R Saunderson | |
| D E Sharp | |
| Registered Office: | HCR Hewitsons |
| Elgin House | |
| Billing Road | |
| Northampton | |
| NN1 5AU | |
| Accountants: | Moore |
| Chartered Accountants | |
| Oakley House | |
| Headway Business Park | |
| 3 Saxon Way West | |
| Corby | |
| Northamptonshire | |
| NN18 9EZ | |
| Bankers: | CAF Bank Limited |
| 25 Kings Hill Avenue | |
| Kings Hill | |
| West Malling | |
| Kent | |
| ME19 4JQ | |
| Solicitors: | HCR Hewitsons |
| Elgin House | |
| Billing Road | |
| Northampton | |
| NN1 5AU | |
| Investment Advisors: | Brewin Dolphin |
| 12 Smithfield Street | |
| London | |
| EC1A9BD |
THE FREDERICK & PHYLLIS CANN CHARITABLE TRUST
FOR THE YEAR ENDED 5 APRIL 2021
CONTENTS
| Page | |
|---|---|
| Examiners’ report | 1 |
| Trustees' report | 2 |
| Balance sheet | 3 |
| Statement of financial activities | 4 |
| Schedule offunds | 5 |
| Notes | 6 |
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE FREDERICK & PHYLLIS CANN CHARITABLE TRUST
FOR THE YEAR ENDED 5 APRIL 2021
We report on the accounts which are set out on pages 3 to 10.
Respective responsibilities of the trustees and examiners
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is our responsibility to:
-
e examine the accounts under section 145 of the 2011 Act;
-
° follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
-
e state whether particular matters have come to my attention.
Basis of independent examiner's report
Our examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with our examination, no matter has come to our attention:
-
which gives us reasonable cause to believe that in any material respect the requirements:
-
e to keep accounting records in accordance with section 130 of the 2011 act; and
-
e to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
- to which in our opinion, attention should be drawn in order to enable an understanding of the accounts to be reached.
Moore
Chartered Accountants Oakley House Headway Business Park 3 Saxon Way West Corby Northamptonshire NN18 9EZ j \ eS : Date: 1.2... aMENMer LOU
: Page 1
THE FREDERICK & PHYLLIS CANN CHARITABLE TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 5 APRIL 2021
The trustees present their annual report for the year ended 5 April 2021 under the Charities Act 2011, together with the financial statements for the year, and confirm that the latter comply with the requirements of the Act, the Trust Deed and the Charities SORP FRS 102.
Structure, governance and management
Governing document
The charity is governed by its Trust Deed dated 1 December 1998 as varied by Supplemental Deed dated 10 July 2001. The Trust was initially established by Mrs Phyllis Cann on behalf of her late husband and herself by way of a Trust Deed dated 1 December 1998.
Appointment of Trustees
The Trustees are responsible for the administration and investment policy of the Scheme. Trustees are appointed and removed by the existing Trustees.
The Trustees who served during the year are set out on the charity information page at the front of these accounts.
Objectives and activities and public benefit
The charitable objects of the Trust are quite clearly defined and fall in to three main areas:
-
Animal welfare
-
Welfare of children
-
Safety at sea
The Trust Deed names seven specific charities as charitable objects, and such other charitable object or objects in any part of the world as the Trustees shall in their absolute discretion think fit to support or establish.
During the year the Trust has made numerous donations within the sectors and objects outlined above, and the Trustees have complied with the duty in section 4 of the Charities Act 2006 to have due regard to public benefit guidance published by the Charities Commission.
Financial review
Investment policy and summary for the year:
The Charity's funds are managed by its Investment Advisors. The Trustees have instructed that the funds are to be held so as to maximise the total return through a suitable balance of income and capital growth. The advisors have acted in line with their aims as to how this policy should be best achieved.
Investment carrying values in the balance sheet have increased in the year. The Trustees have been able to meet all charitable requests out of income laa caameaa di year accumulations. Approved by the Trustees and signed on their behalf by. Arrerrerrea Dated: glibeee | ~
Page 2
THE FREDERICK & PHYLLIS CANN CHARITABLE TRUST
BALANCE SHEET
| AT 5 | APRIL 2021 | ||||
|---|---|---|---|---|---|
| Note | 2021 | 2020 | |||
| £ | £ | £ | £ | ||
| Tangible fixed assets Investments |
2 | 2,767,367 | 2,303,702 | ||
| Current assets | |||||
| Bank accounts | 102,720 | 46,250 | |||
| 102,720 | 46,250 | ||||
| Creditors | |||||
| Amounts falling due within one year | 3 | (7,246) | (6,327) | ||
| Net current assets | 95,474 | 39,923 | |||
| Total assets less current liabilities | 2,862,841 | 2,343,625 | |||
| Net assets | 2,862,841 | 2,343,625 | |||
| Capital funds | |||||
| Unrestricted funds | 2,862,841 | 2,343,625 | |||
| Totalfunds | 2,862,841 | 2,343,625 |
Approved by the trustees on _g|Llten and signed on their behalf by:
Trustees 1. @ Panrek.
The annexed notes form part of these financial statements.
Page 3
THE FREDERICK & PHYLLIS CANN CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2021
| Total | Total | ||
|---|---|---|---|
| funds | funds | ||
| Note | 2021 | 2020 | |
| £ | £ | ||
| Incoming resources | |||
| Incoming resources from generated funds: | |||
| Investment income | 4 | 587,175 | (167,073) |
| Total incoming resources | 587,175 | (167,073) | |
| Resources expended | |||
| Costs ofgenerating funds | 5 | (18,118) | (16,206) |
| Charitable activities | 6 | (44,074) | (65,100) |
| Governance costs | 7 | (5,767) | (8,467) |
| Total resources expended | (67,959) | (89,773) | |
| Net movement in funds | 519,216 | (256,846) | |
| Total funds brought forward | 2,343,625 | 2,600,471 | |
| Totalfundscarriedforward | 2,862,841 | 2,343,625 |
Details of incoming resources and resources expended are given in the notes to the financial statements.
All funds are unrestricted.
Page 4
THE FREDERICK & PHYLLIS CANN CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
DETAILED ANALYSIS OF MOVEMENTS IN FUNDS
FOR THE YEAR ENDED 5 APRIL 2021
| Note | 2021 | 2020 | |||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| General income fund | |||||
| Opening balance | 95,237 | 105,950 | |||
| Surplus(deficit) for the year | 8 | 9,432 | (10,713) | ||
| 104,669 | 95,237 | ||||
| Capital account | |||||
| Opening balance | 2,248,388 | 2,494,521 | |||
| Gain/(loss) on investments | 2 | 527,902 | (229,927) | ||
| Investment management fees | 5 | (18,118) | (16,206) | ||
| 2,758,172 | 2,248,388 | ||||
| Totalfundsat5April2021 | 2,862,841 | 2,343,625 |
Page 5
THE FREDERICK & PHYLLIS CANN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2021
- Accounting policies
The Frederick and Phyllis Cann Trust is a registered charity in England and Wales. The registered office is given in the charity information page of these financial statements. The nature of the charity's operations and principle activities are stated on page 2 of these financial statements.
The financial statements have been prepared under the historical cost convention as modified by the inclusion of investments at market value. The financial statements have been prepared in accordance with the 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), applicable UK Accounting Standards and the Charities Act 2011. The principal accounting policies adopted in the preparation of the financial statements are set out below.
Incoming resources
All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources.
Investments
Investments are stated at their market value at the year end. The market value of quoted securities is based on the middle market quotation on the relevant Stock Exchange.
Investment income
Income from investments is accounted for on an accruals basis.
2. Fixed asset investments
£
----- Start of picture text -----
Carrying value at 6 April 2020 2,303,702
Additions at cost 840,210
Disposal proceeds (904,447)
Gain/(loss) for the year 527,902
Carrying value at 5 April 2021 2,767,367
The gain for the year comprises: .
, £
Realised gain on disposals 27,742
Unrealised gain on revaluation 500,160
527,902
----- End of picture text -----
Page 6
THE FREDERICK & PHYLLIS CANN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED5 APRIL 2021
| 3. | Creditors | ||
|---|---|---|---|
| Amounts falling due within one year: | |||
| 2021 | 2020 | ||
| £ | £ | ||
| Accrued expenses | 5,940 | 4,916 | |
| Trade creditor | 1,306 | 1,411 | |
| 7,246 | 6,327 | ||
| 4. | Incoming resources | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Investment income | |||
| Dividends | 59,268 | 62,702 | |
| Interest | 5 | 152 | |
| Gain/(loss) on investments | 527,902 | (229,927) | |
| 587,175 | (167,073) | ||
| 5. | Costs ofgenerating funds | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Investmentmanagementfees | 18,118 | 16,206 |
Page 7
THE FREDERICK & PHYLLIS CANN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED5 APRIL 2021
6. Direct charitable expenditure - donations
| Direct charitable expenditure - donations | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Asthma Relief | 1,000 | - |
| Battersea Dogs & Cats Home | - | 2,000 |
| Beds and Northants MS Centre | - | 2,500 |
| Blesma | - | 1,000 |
| Brainwave | - | 2,000 |
| British Horse Society | - | 2,000 |
| British Disabled Angling Association | 1,000 | - |
| C2C | - | 2,000 |
| Caring and Sharing Trust | - | 1,000 |
| Cats Protection | - | 1,000 |
| Cauldwell Children | - | 1,500 |
| Changing Faces | - | 1,000 |
| CHICKS | 2,500 | - |
| Children's Aid | 2,000 | - |
| CLIC Sargeant | - | 3,000 |
| Cransley Hospice | - | 2,000 |
| Daventry Contact | - | 1,000 |
| Douglas Bader Foundation | 1,605 | - |
| Dogs for Good | - | 2,000 |
| Dogs Trust | - | 500 |
| Donkey Sanctuary | 1,000 | - |
| Dreams Come True | - | 1,000 |
| East Northants Community Services | - | 3,000 |
| ERIC | 1,000 | - |
| Fire Fighters Charity | - | 1,000 |
| Helen and Douglas House | 2,000 | - |
| Home Start | 3,000 | - |
| Huntingdon's Disease | 2,000 | - |
| Joss Searchlight | - | 2,000 |
| Kidscape | 1,200 | - |
| Lakeland Day Care Hospice | - | 2,000 |
| Listening Books | 3,000 | - |
| Lullaby Trust | 1,000 | - |
| Lymphoma Association | - | 1,000 |
| Muir Maxwell | - | 2,000 |
| Mobility Trust— For Northants | 500 | - |
| NAYC | - | 2,000 |
| Balancec/fwd | 22,805 | 38,500 |
Page 8
THE FREDERICK & PHYLLIS CANN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2021
6. Direct charitable expenditure — donations (continued)
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Bal b/fwd | 22,805 | 38,500 |
| Nene Valley Care Trust | 2,000 | - |
| New Life | 2,000 | - |
| NMPAT | - | 5,000 |
| Northampton Hope Centre | - | 2,000 |
| Northampton Saints Foundation | - | 1,000 |
| On Course Foundation | - | 1,000 |
| PBC Foundation | - | 1,000 |
| PDSA | 2,500 | - |
| Police Community Clubs ofGB | - | 1,000 |
| REACT Relate RNLI |
1,000 - 5,000 |
- - 5,000 |
| Rock UK | - | - |
| RSPCA | - | 1,600 |
| Seafarers UK | 2,000 | - |
| Sense | - | - |
| Serve | 1,769 | - |
| Spencer Contact | 1,000 | 1,000 |
| SSAFA Northants | - | 1,500 |
| Starlight Children’s Foundation | - | 2,000 |
| Strongbones Childrens’ Trust | - | 1,000 |
| Tall Ships | - | 1,000 |
| The Learning Bus | - | 500 |
| The Mission to seafarers | 2,000 | - |
| Thomas's Fund | - | 500 |
| Whizz Kids | 2,000 | - |
| Willow Foundation | - | 1,000 |
| World Horse Welfare | - | 500 |
| 44,074 | 65,100 |
Page 9
THE FREDERICK & PHYLLIS CANN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2021
Y. Governance costs
----- Start of picture text -----
||||||
|---|---|---|---|---|
|2021|2020|
|£|£|
|Secretarial|fees|4,255|6,901|
|Accountancy|1,440|1,506|
|Bank|charges|72|60|
|5,767|8,467|
|8.|General|income|fund|
|2021|2020|
|£|£|
|Incoming|resources|
|Bank|interest|5|152|
|Income|from|investments|59,268|62,702|
|Total|incoming|resources|59,273|62,854|
|Resources|expended|
|Direct charitable|expenditure|(44,074)|(65,100)|
|Management|and|administration|(5,767)|(8,467)|
|Total|resources|expended|(49,841)|(73,567)|
|Surplus/(deficit) for the year|9,432|(10,713)|
----- End of picture text -----
Page 10