Charity registration number. 1103358 Marshall and Viggars Charitable Trust Annual Report and Financial Statements for the Year E￿Ied 5 April 2024 Marshall and Viggars Charitable Trust Contents (continued) Reference and Administrative Details Twstees, Report 2to3 Statement of Trustees, Responsibilities Independent Examinerfs Report Statement of Financial Activikn'es Balan￿ Sheet Notes to the Financial Ststements 8t011 Marshall and Viggars Charitable Trust Reference and Administrative Detsils Trustees A J Green P R Evans H P Drewery K Worsnop Secretary Charity Registralion Numb•r 1103358 Prlnclpal Office Graham & Rosen 8 Parliament Street Hull HU12BB Smalles Goldie Charte￿d Accountants Regents Court Princess Str￿t Hull HU2 88A Graham & Rosen 8 Parliament Street Hull HU12BB Independent Examiner Sollcttors Bankers Handelsbanken Marina Court 18 Casue Street Hull HU1 1TJ Conlact Details K Worsnop 01482 323123 kw@graham-rosen.co.uk Page 1 Marshall and Viggars Charitable Trust Trustees. Report The trustees present the annual report together with the financial statements of the charity for the year ended 5 April 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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) (effective 1 January 2019). Constitutlon {Trust} Mrs. Marjorie Viggars died on 8 November 2003. Under the terms of her Will, dated 11 January 1991. and Codicil, dated 30 August 2001, after ￿rtain specific legaaes she left her residuary estate to her trustees to be held for charitable purposes. The Will stipulates that such charitable purposes shall be relating to human physical or mental disability. medical care relief and welfare medical research or for the care relief or protection of animals. Mrs Eileen Lucy Marshall died on 20 June 2015 and under the temis of her Will, dated 8 April 2015, after certain specrfic legacies she left her residuary estate to her trustees to be held for charitable purposes. With the chantsble purposes under Mrs Marshall's Will being identical to those of the late Mrs Viggars, the trustees decided that the iwo trusts could be better and more efficiently operated together and on 22 August 2017 a resolution was passed by the executor5 and trustees of the bNO estates to effect this combinats"on. The residuary funds and the investment in Reckitt Benckiser. held in Mrs Marshall's estate, were paid and transferred over to the Maiiorie Viggars Charitable Trust and a resolution was passed to change the name of the Trust to the Marshall and Viggars Charitable Trust. Charitable Status The trust is registered with the Charity Commissioners for England and Wales with the registered number being 1103358. Financlal and operatlng review for the year As reported previously. in order to reduce the administration costs and protect the Charity going forward, the trustees took the decision to restrict the geographical areas for grant applications to Yorkshire and the Humber whilst retsining the same four charitable purposes. The trustees are pleased to report that this aclion continues to be successfijl with the number of eligible grant applications being reduced and the general management costs of the Charity being kept to the minimum. The trustees have agreed to continue with this action for the time being. The investment income increased during the year to £32,457 compared to £26,375 in 2023. The value of the investment portrolio decreased, due to general market conditFons, and at 5 April 2024 stood at £810,587 (2023 £824,730). The investment portfolio is managed, on behalf of the trustees. by J M Finn & Co, from their York office, using their Discretionary Portfolio Management Servi￿. The investment objective is to achieve a combined return from income and capital growth wtth a medium risk portfolio selected by the trustees. Page 2 Marnhall and Viggars Charitsble Trust Trustoos. Report (continued) The trustees meet. fornially, twice a year (July 2023 and February 2024 in the year under review) at whith they consider what income is available for distribution and then discuss and consider the grant applicab'ons made to the trust. These are considered under the four heads set out in the corbsb"tution namely (a) Human, physical or mental disabilty; (b) Medi(xl care, relief and welfare" (c) Medical research and (d) Care, relief or protection of animals. Grants awarded during the year totalled £22,305, with the largest individual one being £1,750. There were 28 grants awarded plus 1 travel bursary with 9 in category (a), 13 in category (b}, 2 in category (c) and 4 in category (d). The trustees, aim is to distiibute the whole of the net available income on an ongoing basis. The trustees awarded a second travel bursary amounting lo £500 to Hull University to be used by post graduate students studying at the Hull Yor1( Medical School. The trustees delegate the spending of the bursary to the UnNersty, which allocates it amongst several students. The trustees currently intend that further bursaries will be made in future year& The bursary falls within category (c) of the trust's objacts- medica research. TNstees responsibilltles In relatlon to the financial ststements The trustees are responsible for preparing the Trustees. Annual Report and the financial statements in accordance bmth applicable law and United kingdom Accounting Standards {United lfjngdom Generally AC￿pted Accounting Practice). The law applicable to charities in England and Wales ￿qUireS the trustees to prepare financial statements for each financial year which give a Irue and fair view of the state of affairs of the charity and of its incoming resources and application of resources for that period. In preparing those financial statements, the trustees are reqUI￿d to: • select suitable accounting policies and then apply them consislenty: . observe the methods and principles of the char￿eS SORP; • make judgements and estimates that are reasonable and pruden( and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operab"on. The trustees are responsi1￿8 for keeping proper accounting re￿rdS which are sufficient to show and explain the charitys transactions and to disclose with reasonable accuracy at any b'me the financial position of the chanty. and to enable them lo ensure that any statements of account comply with the requirements of the Charities Act 2011, the Chanty {Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the tharity and taking reasonable steps for the prevention and detection of fraud and other irregulariti8S. The trustees are responsible for the Maintenan￿ and integrity of the charity and financial infomiation included on the chariVs website. The annu81 report Was approved ty the trustees of the chaiity on behalf by. t6￿nd signed on its A J Green Trustee Page 3 Marshall and Viggars Charitsble Trust Statement of Trustees, Responsibilities The trustees are responsible for preparing the trustees, ￿port and the financial statem8nts in accordance wth the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi￿) and applicable law and regulations. The law applicable to charib.es requires the trustees to prepare financial ststements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: select suitable accounting polictes and then apply them consistently: observe the methods and principles in the Charities SORP. make judgements and estimates that are reasonable and prudent state whether applicable accounts'ng standards have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will conts.nue in business. The trustees are responsible for keeping proper accounting records that disdose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply wtth the Charib'es Act 2011. the Charities (Account5 and Reports) Regulations 2008, and the provisions of the constitution. The truslees are also responsible for safeguarding the assets of the charity and hence for taking rea￿)nable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differfrom legislation in otherjurisdictions. Approved by the trustees of the charity on n.[i..fi...lfvnd signed on its behalf by.. A J Green Trustee Page 4 Marshall and Viggars Charitable Trust Independent Examiner's Report to the trustees of Marshall and Viggars Charitable Trust I report to the trustees on my examination of the acLx)unts of Marshall and Viggars Charitable Trust for the year ended 5 April 2024. Responsibilities and basls of report As the charity trustees of Marshall and Viggars Charitable Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Acr). I report in respert of my examination of the Marshall and Viggars Charitable Trusfs accounts carried out under section 145 of the 2011 Act and in rAThying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145{5)(b) of the Act. Independent examinerfs 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: 1. accounting records were not kept in respect of Marshall and Viggars Charitsble Trust as required by section 130 of the Ac( or 2. the accounts do not accord with those rec (42.908) {36,270) 2,632 2.632 (33.189) Net expenditure (3,057) 10.811 13.868 42.132 Net movement in funds (3.057) {10.811) (13.868) (42,132) Reconciliatlon of funds Total funds brought forward Total funds carried forward 3,102 837.704 840,806 882,938 45 826,893 826,938 840,806 All of the charity's activits.es derive from continuing operations during the above Iwo periods. The funds breakdown for 2023 is shown in note 8. The notes on pages 8 to 11 fomi an integral part of these financial stsfements. Page 6 Marshall and Viggars Charitable Trust (Registration number: 1103358) Balance Sheet as at 5 April 2024 2024 2023 Note Flxgd assets Investments 810,587 824,730 Current assets Debtors Cash at bank and in hand 13,966 5.805 14,298 7,968 22,266 19.771 Creditors: Amounts falllng due withln one year 3.420) 6,190 Net current agsots 16.351 18,076 Net assets 826,938 840,806 Funds of the charity: Capltal funds 826.893 837.704 Incomo Funds 45 3.102 Total funds 826.938 840.806 ancial ststements on pages 6 to 11 were approved by the trustees. and authorised for i55ue on and signed on their behalf by: AJGree Trustee The notes on pages 8 to 11 fomi an integral part of the8e financial statements. Page 7 Marshall and Viggars Charitable Trust Notes to the Financial Statements for the Year Ended 5 April 2024 1 Accountlng policies Statement of compliance The financial statements have been prepared in accordan￿ with the second edibon of the Charities Statement of Recommended Practice issued in October 2019. the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charits'es Act 2011. Ba8is of preparatlon Marshall and Viggars Charitable Trust meets the definition of a public benefit entty under FRS 102. The accounts {financial statements} have been prepared under the historical cost convenb.on with items recognised at cost or transaction value unless othemise stated in the relevant note(s) to these accounts. Going concern The trustees consider that there are no material uncertainties about the charitys ability to continue as going concem. Income and endowments Invostment income Investment income is accounted for on an accruals basis {ie induded when dividends and interest are declared and paid.) Expendlture Investment management and other management costs are accounted for on an accruals basis. These costs are apportioned be￿een Income and capital based on the use of resources. Grant expendlture Applications for grants are received throughout the year. These are considered. at half yearfy meetings. to ensure that they meet one of the four requirements as set out in the Charitys consitution and then grants are awarded at the trustee's discretion. Grant awards are included in the accounts following approval by the trustees and payment being made. Flxed asset investments Listed investrnents are stated at market value at the balan￿ sheet date based on the valuation provided by the Charivs investment manager& The statement of financial activities includes the net gains and losses on investment disposals dUri￿j the year and those arising on the revaluation at the year end. Page 8 Marshall and Viggars Charitable Trust Notes to the Financial Statements for the Year Endad 5 Aprll 2024 (continued) 2 Investment income Totsl 2024 Total 2023 Income from dividends" Dividends receivable from Other lis￿￿ investrnents Interest receivable and similar income. Interest on cash 32,261 26,247 128 32,457 26,375 3 Expendlture on r4lslng funds al Investment management costs Total 2024 Total 2023 Management Costs 7,394 7,587 b) Other costs of generatlng donatlons and legacles Totsl 2024 Total 2023 Legal fees Other expenditure Accountancy fees Independent examinerfs fee 11,224 95 1.140 750 14,340 93 700 750 13,209 15,883 4 Expenditure on charitable actlvlties Total 2024 Total 2023 Grant funding of activities 22,305 12,800 Page 9 Marshall and Viggars Charitable Trust Notes to the Financial Statements for tha Year Ended 5 April 2024 (continued) 5 Fixed asset investments 2024 Cost brought fop+vard Additions Disposals Revaluation 824,730 62,427 (79,677} 3,107 Market Value at 5 April 2023 810,587 Historic cost of the listed investrnents at 5 April 2024 is £788,899. The listed investments are registered in a nomin￿ account with J M Finn & Co. The market value of the listed investments, at 5 April 2024. is based on a valuation by J M Finn & Co. 6 Debtors 2024 2023 Trade debtors 13,966 14.298 7 Creditors: amounts falling due wlthln one year 2024 2023 Other creditors 3,420 6,190 8 Funds Balance at 6 April 2023 Other Incomlng Resources recognised resources expended galnslllosses) Balance at 5 April 2024 Income 3,102 32,457 (35,514} 7,394 45 Capital 6.049 2,632 826.893 Total funds 840.806 26,408 42,908 2,632 826.938 Balance at 6 April 2022 Other Incoming Resources recognised resources expended gainsl(losses) Balance at S April 2023 Income 1.634 26,375 (24.907) 11,363 3,102 Capital 881,304 33,189} 36.270 33.189 27,327 840,806 837,704 Total funds 882,938 Page 10 Marshall and Viggars Charitable Trust Notss to the Financial Statements for the Year Ended 5 April 2024 (continued) 9 Anatysis of net assets between funds Capital Fun(ts Total funds at 5 April 2024 Income Funds Fixed asset investments Current assets Current liabilities 810.587 16.306 810,587 19,771 3,420 3,465 3.420 Totsl net assets 45 826.893 826,938 Capltal Funds Total funds at 5 April 2023 Income Funds Fixed asset inveslments Current assets Current liabilities 824,730 12,974 824,730 22,266 (6.190 840,806 9.292 6.190) 3.102 Totsl net assets 837,704 10 Related party transactions A J Green, H P Drewery and P R Evans are all employed as solicitors by Graham & Rosen Solicitors. Mr Green is a consultant with the firni, Miss Drewery is a director of the fi￿, and Mr Evans is an associate. Graham & Rosen manage the trust, on the behalf of the trustees. and charge accordingly for their professional time spent administering the Charity- Total charges made by Graham & Rosen in the year amounted to £11.224 (2023 - £14,340>. Page 11