G.E. BESSELL DFM SEThLEMENT Report and Financial Statements Year ended: 25 March 2024 Charity no: 1089910
G.E. BESSELL DFM SETfLEMENT Contents Report of the Trustees Independent Exarniners report Receipts and Payments Account Statement of Assets and Liabilities
G.E. BESSELL DFM SEThLEMENT Report of the trustees for the year ended 25 March 2024 The trustees submit their annual report and the financial statements for the year ended 25 March 2024. The charity is constituted as a trust and is governed by a deed of settlement dated 25 March 1997. Reference and admlnlstratlve deta51s of the charity, its trustees and advlsers The trustees who held office during the period were as follows: Mr Stephen Cole Mr Peter Cole Mrs Charlotte Louise Bishop The principal address of the charity is.. Traf81gar House Nelson Street Southend-on-sea Essex SS1 1EF During the year, the charity used the following professional advisers.. Tolhurst Fisher Trafalgar House Nelson Street Southend-on-sea Essex SS1 1EF Rickard Luckin Limited 19 Clifftown Road Southend-on-sea Essex SS1 1AB Structure> goveinance and management The deed of settlement provides for a minimum of 2 trustees. Where there is a requirement for new trustees, these would be identified and appointed by the existing trustees. The existing trustees would be responsible for the induction of new trustees. The trustees regulady review the risks that the charity faces. These mainly relate to investment management and these have been reduced by diversified portfolio management. The trustees are also aware of the risks associated with making donations and therefore they review the spending programmes of the benefactors. Objectlves and a¢tlvities Its objectives are to act as a grant making charity for the RAF Benevolent Fund. Great Ormnd Street Childrens Hospital, South East Essex Christian Hospice (Fairhavens). St. Joseph's Hospice Hackney London and the British Red Cross. The trustees have conSided the Charity Commission guidance on public benefit and are satisfied that the Trust's activities meet the principles laid out in that guidance.
G.E. BESSELL DFM SErrLEMENT Report ofthe trustees for the year ended 25 March 2024 conL Achievémént8 and p8rfomiance Flnanclal revlew The charity's investments are subject to daily fluctuations in the stock market. During the year, the trustees in conjunction with their advisers made changes to the investment portfolio which a reflected in the details of non-monetary assets and liabilrties. Some of the income from listed investments is automatically reinvested and is iherefore not reflected in the receipts and payments account. The trustees aim to fflaintain a level of reserves in Order to generate sufficient income and growth to make substantial but discretionary payments to each of the organisations listed above. Vthilst the trustees have not set a specific level of reserves. they consider th& current levels to be reasonable. Plans for future perfods The plans for Ihe forthcoming periods are to improve the capital position of the charty, whilst making donations to the organisations listed above and monitoring the perfomiance of Ihose organisations to ensure appropriate spending programmes are in place. This report was approved by the Trustees on
G.E. 8ESSELL DFM SEThLEMENT Independent examiners report to the Trustees I report on the accounts of the charity for the year ended 25 March 2024 which comprise the Receipts and Payments account and Statement of Assets and Liabilities. Re8pectlve responslbllltles of trustees and examiner The charity's trustees are responsible for the preparation of the accounts in accordance with the requirernents of the Charities Act 2011 ('the Act"). The charty's trustees consider that an audit is not required for this year under section 144(2) of the Act and that an independent examination is needed. It is my responsibility to: examine the accounts under section 145 of the Charities Act; to follow the procedures laid down in the General Directs"ons given by the Charity Commission under section 145(5)(b) of the 2011 Act,. and to state whether particular matters have corne to my attention. Bas18 of Independent examlner's statement My examination was carried out in accordance with 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 seeklng 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 ststement below. Independent examlnerf8 Statement In the course of my examination, no matter has corne to my attention which gives me reasonable cause to believe that in any material respect.. accounting records were not kept in accordance with section 130 of the Charities Act., or the accounts do not accord with the accounting records. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Jamie Nice ACA Rickard Luckin Limited 19 Clifftown Road Southend-on-sea Essex SS1 1AB Date..
G.E. BESSELL DFM SETTLEMENT Rocelpts and Payments account for the year ended 25 March 2024 2024 2023 Receipts: Dividends Interest Donations 26,502.09 1,831.01 21.23 24,471.14 4,710.91 6.41 28,354.33 28,188.46 Proceeds from sale of investments 39,814,25 65,137.43 Total Teceipts 68,168.58 93,325.89 Payments: Legal Fees Accountancy Fees Cost of purchases of investments Management fees Donations 900.00 714.00 69,934.36 7,036.38 40,000.00 642.00 7.233.50 40.000.00 Totsl payments 118,584.74 47,875.50 Net receiptsl{payments) (50,416.16) 45,450.39 Cash funds bffiwd 78,322.73 32,872.34 Cash funds clfvvd 27,906,57 78,322.73
G.E. BESSELL DFM SEThLEMENT Statement of Assets and Llabllltles as at 25 March 2024 2024 2023 Monetary assets: TSB deposit account Cash on deposit- JM Finn & Co Income account- JM Finn & Co 9,803.07 981.10 17,122.40 11,395.84 49.137.58 17,789.30 27,906.57 78,322.73 Non Monetary assets and Ilabllltles: Inve8trnents United Kingdom Treasury CG Portfolio Fund PLC - The Dollar D Inc SVS Church House Inv Grade M&G Securilies Corporate Bond Mercantile Investment Trust Murray Income Trust Finsbury Growth & Income Trust Law Debenture Corp Artemis - UK Special Situations Fund North Atlan SM CO Findlay Americ81 USD Inc Blackrock Fund Managers Henderson - European Capital Growth Fund Aberdeen New India Inv Trust Pacific Horizon Investment Trust JPMorgan Japanese Investment Trust Templeton Emerging Markels Investment Trust Herald Investment Trust Foreign & Col Investment Trust Monks Investment Trust Alliance Trust Ordinary Mid Wnd Intern Invest M&G Securities Ltd Global Dividend Blackrock Wild Mining Trust Digital 91 nfrastructure Greencoot UK Wind Caledonia Investments Ord Aberdeen Diversified Inc & Gth Personal Assets Trust 30,685.71 47.862.00 38,920.00 46,488.00 78,225.00 70,550.00 51,360.00 78,600.00 94,806.80 30,600.00 89,787.28 52,978.24 63,456.00 25.600.00 34,380.00 35,165.00 38,200.00 31,575.00 79,440.00 56,500.00 61,400.00 26,985.00 46,989.00 12,216.00 50,496.00 38,097.50 46,085.00 67,060.00 70,465.00 52,620.00 78,400.00 81,308.70 29,410.00 67,859.54 43,444.72 54,816.00 20,160.00 34.980.00 30,355.00 37,300.00 35,640.00 71,920.00 46,575.00 23,775.00 46,900.00 43,425.00 13,860.00 26,673.00 33,500.00 18,304.00 60,000.00 22,916.00 32,700.00 15,752.00 59,750.00 1,353,887.03 1,223,429.46
G.E. BESSELL DFM SEThLEMENT Debtors Tax refund due statement of Assets and Liabllltles as at 25 March 2024 Cont. Llabllltle8 Accountancy fees Legal Fees 720 660 660