**Charity Number: 1093610**
## **THE BLANES TRUST**
## **STATEMENT OF ACCOUNTS FOR THE**
**YEAR ENDED 31 MARCH 2022**
## **THE BLANES TRUST**
## **ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022**
|**CONTENTS**|Page|
|---|---|
|Trustees' Annual Report|1 & 2|
|Independent Examiner's Report|3|
|Statement of Financial Activities|4|
|Balance Sheet|5|
|Notes to the Accounts|6 to 9|
## **THE BLANES TRUST**
## **TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022**
The Trustees present their annual report and financial statements of the charity for the year ended 31 March 2022
## **Objects and Policies**
The Funds are to be applied for or towards such charitable purposes at such time or times and in such manner as the Trustees shall in their absolute discretion think fit. The objectives are fulfilled by the Trustees through consideration of appeals and making grants or donations in response thereto. Funds held pending disbursement may be invested in securities of whatsoever nature the Trustees think fit.
## **Activities and achievements during the year**
The Trust continued to consider requests for funding and to respond thereto. Income amounted to £99,708 which included a donation from the settlor of £84,742, this compared to £93,524 in the previous year. Donations of £30,000, were made during the year compared to £38,000 in the previous year. Support costs totalled £2,058.
## **Administration Information**
The Blanes Trust is constituted by a Trust Deed dated 13th March 2002 and is a registered Charity number 1093610 under clause 4(1). The statutory power of appointing new or additional Trustees is by a resolution of the Trustees passed at a special meeting. There is a minimum number of three Trustees.
**Trustees Address** Thomas R L Astor Sayers Butterworth LLP Susie F Astor 3rd Floor, 12 Gough Square K Mackenzie-Davey London, EC4A 3DW
All enquiries should be addressed to Sayers Butterworth LLP Ref SMS
**Bankers Investment Advisor** Cater Allen Rathbone Investment Management 9 Nelson Street 8 Finsbury Circus Bradford London EC2M 7AZ BD1 5AN
Barclays Barclays Bank Leicester Leicestershire LE87 2BB
## **Independent Examiner**
Sayers Butterworth LLP 3rd Floor, 12 Gough Square London, EC4A 3DW
Page 1
THE BLANES TRUST
TRUSTEES ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2022
Risk Factors
The Ttuslees h8ve taken advantage of exemption available for ¢harilies wrth in¢oming SOurceS of
less than £500,000 not lo Carry out a risk assessment.
InVlMent Policy
There are no re5tri¢tions in the Trust Deed. The Trustees operate a low risk policy with a baLqn¢e of
income 8nd ¢apilal growth. The invèstments are currently held in 8 Tnixture of stock market
investments and cash depos115. There were unrealised I realisèd gains of £42,999 on the investments
held This compared wrth unrealised I realised gains of £123,820 In the previous year.
Ros•rv•s Policy
11 is the Trust8•s policy to restrict outgoing resources lo the available income. Clause 2 of the Trust
Deed gives the power to apply the Trust fund and the income thereof for such Charitable purposes as
the Trustees shall In their absolute discretion determine. Accordingly It Is possible to maintain resetves
al a minimal level.
Public Benefit
The Trustees confirm that they have complied with the duty in Section 17 of the charib.es Act 2011 to
have due regard to the general gu5dallc8 Issued by the Charities Commission on public benèfit.
Rolat¢d Party Transactions
There were no related paty transactions during the period.
Responsibilitigs of thè Trusteos
The Trustees 8re responsible for preparing tha Trustees, report and financial statements in
accordance with applicable law and United lQ'ngdom Accounting Standards Iunited Kingdorn
Generally Accepted Accounting Praclicel.
The law applicable lo charities in England & Walès requires the Trust$ to prepare financi81
statements for each financial year,which give a true and f3ir view of the stale of affairs of the Charity
and of the incoming resources and application of resources of the Charty for that period. In prepanng
these finan¢ial statements the Trustees are required to..
select suitable accounting policies and then apply them consistently.,
' observe the methods and principles in the Charities SORP.
mgke judgments and accounting estimates that are reasonable and prudent..
stale whether applicable UK Accounting Standards have keen loltowed. subject to any m*erial
departures disclosed and explained in the financial statements", and
prepare the financial statements on the going concem basis unless il is inappropriate to presume that
the charity will continue in opration.
The Trustees are responsible for keeping adequ81e accounting records that are sufficient lo show and
explain the charity's Ir8ns8¢tions and disclose with re8sonable accuracy al any lime the financial
position of the charity and enable them to ensure that the financial statements comply with the
Charities Act 2011, the Charty IAccounts and Reports) regvlab.ons 2008 and the provisions of the
Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for tsking
reasona
slep$ for the prevention of fraud and other irregularits"es.
T Astor
Signed on behaLf of the Trustees".
Pag8 2
## **THE BLANES TRUST**
## **INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 31 MARCH 2022**
## **Independent Examiner’s Report to the Trustees of The Blanes Trust**
I report to the charity Trustees on my examinations of the accounts of The Blanes Trust for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Balance Sheet and related notes.
This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the Charity’s trustees those matters I am required to state to them in an Independent Examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.
## **Responsibilities and basis of report**
As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Charity's financial statements carried out under section 145 of the Act and in carrying out my examinations 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 that an auditor considers in giving their opinion on the financial statements. 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 financial statements 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 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:
- accounting records were not kept in respect of the charity as required by section 130 of the Act; or
- the financial statements do not accord with those records; or
- the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to endable a proper understanding of the financial statements to be reached.
Andrew Burch, FCA Sayers Butterworth LLP 3[rd] Floor 12 Gough Square London EC4A 3DW
Date: 13 January 2023
Page 3
## **THE BLANES TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022**
|Note
**Income from:**
Investment income
3
Donation from settlor
**Total Income**
**Expenditure on:**
Raising funds
Charitable activities
5
**Total expenditure**
**Net gains on investments**
4
**Net income and movement in funds**
**Reconciliation of funds**
**Total funds brought forward**
**Total funds carried forward**|Expendable
Endowment
£
-
84,742
84,742
5,871
1,029
6,900
42,499
120,341
867,394
987,735|Unrestricted
Funds
£
14,966
-
14,966
-
31,029
31,029
-
(16,063)
64,166
48,103|2022
Total
Funds
£
14,966
84,742
99,708
5,871
32,058
37,929
42,499
104,278
931,560
1,035,838|2021
Total
Funds
£
13,524
80,000|
|---|---|---|---|---|
|||||93,524|
|||||4,841
42,140|
|||||46,981|
|||||123,820|
|||||170,363
761,197|
|||||931,560|
All actvities relate to continuing operations.
The notes on pages 6 to 9 form part of these financial statements.
Page 4
THE BLANES TRUST
BALANCE SHEET AS AT ,
31 fvIARCH 2022
Yèar ended
31 Mah 2022
Yoar *nded
31 March 2021
Note
Fixed Asset Investments at Market Value
Quoted investments
UK quoted securities
946,304
832,896
Current Assets
Debtors
Dividend
650
354
Cash at Bank
Cater Allen Private Bank
Barclays
Rathbone 5nveslrnent Management
Capital Account
Income Account
103,340
82,013
11,546
3.246
93,559
106.586
1,040,513
939.838
Current liabilities
Sayers Butterworth LLP
Sayers Butt8tworth LLP
Independent Examiners
Rathbone Investment Management
2,040
4.580
1,200
1,435
2,440
1,256
4.675
8.276
Net Assets
1,035,838
931.560
REPRESENTING:
Expondabla Endowment Funds
987,735
867,394
Unrestrlct6d Income Funds
48.103
64,168
1,035,838
931.560
The
c¢ou
re
proved by the Trustees on 13 January 2023 and signed on th*r l*half, by..
T Astor
P89tr 5
## **THE BLANES TRUST**
## **NOTES TO THE ACCOUNTS FOR THE**
## **YEAR ENDED 31 MARCH 2022**
## 1 **Accounting Policies**
## **(a) Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Statement of Recommended Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) (Second Edition) and the Financial Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Second Edition) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Blanes Trust is a public benefit entity as defined by FRS 102. In preparing the financial statements the Trustees have considered the effects of COVID-19 on the Charity's activities. There are no material uncertanties regarding the Charity's ability to continue and so the going concern basis has been adopted.
## **(b) Income**
Investment income is accounted for in the period in which the charity is entitled to receipt. Investment income received by the Charity qualifying for the repayment of income tax has been grossed up for tax recoverable and this gross amount is recognised on the SOFA.
Income from donations is included in incoming resources when these are receivable, except as follows:
When donors specify that donations given to the Charity must be used in future accounting periods, the income is deferred until those periods. When donors impose conditions which have to be fulfilled before the Trust becomes entitled to use such income, the income is deferred and not included in incoming resources until the pre-conditions for use have been met.
## **(c) Taxation**
No provision for taxation is included in the accounts as the Charity is entitled to the exemption for tax afforded by Part 10 of the Income Tax Act 2007 and Section 256 of the Chargeable Gains Act 1992.
## **(d) Expenditure**
Expenditure is included on an accruals basis and includes irrecoverable value added tax. Donations payable are charged in the year when the offer is conveyed to the recipient except in those cases where the offer is conditional, such donations being recognised as expenditure when the conditions attaching are fulfilled. Donations offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
**(e)** Governance costs include those costs associated with meeting the constitutional and statutory requirements of the Charity and include costs linked to the strategic management of the Charity.
- **(f)** Investments are valued at open market value.
- **(g)** Fund accounting - Details of the nature and purpose of each fund is set out in note 11.
## **(h) Cash at bank and in hand**
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 6
## **THE BLANES TRUST**
## **NOTES TO THE ACCOUNTS FOR THE**
## **YEAR ENDED 31 MARCH 2022**
## 1 **Accounting policies (continued)**
## **(i) Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resuting from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **(j) Financial instruments**
The Charity only has financial instruments of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at settlement value.
## 2 **Trustees Remuneration and Expenses**
No Trustees received remuneration or expenses.
|3
**Investment Income**
Bank deposit interest
Dividends
Tax repayment interest
4**Fixed Asset Investments**
**Quoted Investments**
Opening market value at 1 April 2021
Investments transferred from Settlor
Additions during the year
Disposals during the year
Equalisation Payment
Net realised gain on disposals
**Closing market value at 31 March 2022**
**Historical cost**
5**Costs of Charitable Activities**
Donations
Support costs
Net unrealised (loss)/gain on revaluation|**2022**
**2022**
**2022**
**Expendable**
**Unrestricted**
**Endowment**
**Funds**
**Total**
**£**
**£**
**£**
-
-
-
-
14,966
14,966
-
-
-|**2022**
**2022**
**2022**
**Expendable**
**Unrestricted**
**Endowment**
**Funds**
**Total**
**£**
**£**
**£**
-
-
-
-
14,966
14,966
-
-
-|**2021**
**Total**
**£**
20
13,187
317|
|---|---|---|---|
||-
14,966
14,966||
13,524|
||**2022**
**2022**
**2021**
**£**
**£**
832,896
84,742
763,308
(776,862)
(279)
45,242
7,741
(2,743)
116,079
42,499
946,304
933,637
**2022**
**2022**
**2022**
**Expendable**
**Unrestricted**
**Endowment**
**Funds**
**Total**
**£**
**£**
**£**
-
30,000
30,000
1,029
1,029
2,058||**2021**
624,422
80,000
170,416
(165,432)
(330)
123,820|
||**2022**
**Expendable**
**Endowment**
**£**
-
1,029|||
||||832,896|
||||636,574|
||||**2021**
**Total**
**£**
38,000
4,140|
||1,029|31,029
32,058|42,140|
Page 7
## **THE BLANES TRUST**
## **NOTES TO THE ACCOUNTS FOR THE**
## **YEAR ENDED 31 MARCH 2022**
- 6 **Support Costs (including Governance costs)**
|**Accountancy and taxation charges**
including overprovision for previous year
Year ended 31st March 2022
**Independent Examiners review**
including overprovision for previous year
Year ended 31st March 2022|**2022**
**2022**
**2022**
**2021**
**Expendable**
**Unrestricted**
**Endowment**
**Funds**
**Total**
**Total**
**£**
**£**
**£**
**£**
729
729
1,458
2,660
300
300
600
1,480|
|---|---|
||1,029
1,029
2,058
4,140|
## 7 **Donations payable**
|**Donations payable**||
|---|---|
|Cruse Bereavement Care
Hampstead Theatre
Hoping Foundation
Minority Rights Group
Winston's Wish|**2022**
**2021**
**£**
**£**
4,000
-
-
12,500
-
500
25,000
25,000
1,000
-|
||30,000
38,000|
The objectives of the Trust are fulfilled by the Trustees through consideration of appeals and making grants in response thereto. All grants made are for the general support of the recipient.
## 8 **Employees**
There were no employees during the year
## 9 **Related Party Transactions**
Aside from donations received during the year, from one of the trustees, there were no related party transactions during the period.
## 10 **Controlling Party**
No one party has overall control of the Trust.
Page 8
## **THE BLANES TRUST**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022**
## 11 **Funds**
Unrestricted funds comprise those funds which the Trust is free to use in accordance with the charitable objects.
Expendable endowment fund represents those assets, principally investments, that are held by the charity on a more permanent basis.
Any capital gains or losses arising on the investments form part of the fund.
Investment management charges and legal advice relating to the fund are charged against the fund.
Income arising on the endowment fund is included as Unrestricted income.
Clause 3 of the Trust Deed gives the power to apply the Trust Fund for such charitable purposes as the Trustees shall in their absolute discretion determine.
## 12 **Analysis of cash and cash equivalents**
|Cash at bank
13**Analysis of net assets between funds**
Fund balances at 31 March 2022 are represented by:
Fixed assets
Current assets
Creditors: amounts falling due within one year|**2022**
**2021**
**£**
**£**
93,559
106,586
93,559
106,586
**Expendable**
**Unrestricted**
**2022**
**2021**
**Endowment**
**Income**
**Fund**
**Fund**
**Total**
**Total**
**£**
**£**
**£**
**£**
946,304
-
946,304
832,896
44,486
49,723
94,209
106,940
(3,055)
(1,620)
(4,675)
(8,276)|**2022**
**2021**
**£**
**£**
93,559
106,586|
|---|---|---|
|||93,559
106,586|
||987,735
48,103
1,035,838
931,560||
## 14 **Statement of funds**
|Unrestricted funds
Expendable endowment funds
Total of funds|**Brought**
**Incoming**
**Expenditure**
**Gains /**
**Transfer**
**Carried**
**Forward**
**Resources**
**(Losses)**
**between**
**Forward**
**Funds**
**£**
**£**
**£**
**£**
**£**
**£**
64,166
14,966
(31,029)
-
-
48,103|
|---|---|
||867,394
84,742
(6,900)
42,499
-
987,735|
|||
||931,560
99,708
(37,929)
42,499
-
1,035,838|
Page 9