REGISTERED CHARITY NUMBER: 1103687
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 December 2020
for
LAURIE & GILLIAN MARSH CHARITABLE TRUST
McPhersons Walpole Harding Chartered Certified Accountants Telecom House 125-135 Preston Road Brighton East Sussex BN1 6AF
LAURIE & GILLIAN MARSH CHARITABLE TRUST
Contents of the Financial Statements for the Year Ended 31 December 2020
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 11 |
| Detailed Statement of Financial Activities | 12 |
LAURIE & GILLIAN MARSH CHARITABLE TRUST
Report of the Trustees for the Year Ended 31 December 2020
The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The object for which the charity is established is to promote any exclusive charitable purpose that the Trustees in their absolute discretion may from time to time determine by the provision of grant funding to registered charities including but not limited to those whose objects are:
a) the preservation and protection of the natural environment,
b) the preservation and protection of good health in particular of women in the third world, and
c) the advancement of education of the public in the arts.
Significant activities
During the year the charity continued with its activities. When planning the activities for the year, the Trustees consider the Charity Commission's guidance on public benefit and in particular the specific guidance on charities for the preservation and protection of the natural environment and good health and the advancement of education. In particular the charity provides grants to registered charities in furtherance of these objectives.
FINANCIAL REVIEW
Principal funding sources
The principle funding sources for the charity are from donations and rental income, the former of which has seen an increase during the year. This and sound financial management and staff support has enabled the charity to maintain its position and charitable activity.
During the year the charity has investment funds which will be repaid in future periods. This investment had a guaranteed return which has been received during the year and the outstanding investment capital is expected to be received in the 2021 year end. The investment carries no risk of default to the charity. The return on the investment will enable the charity to pursue its charitable objectives over the coming years.
Reserves policy
The trustees consider that the chanty's reserves are adequate to meet its day to day expenditure and in the event of a shortfall they have access to sufficient resources to meet any deficit. In this respect, they do not consider it necessary to set a minimum as the charity's free reserves.
Going concern
The charity is considered to be a going concern and the accounts have been drawn up on that basis.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The charity is a registered charity, number 1103687, and was established by a deed of trust date 9 March 2004 and a supplemental trust deed dated 14 April 2014.
Recruitment and appointment of new trustees
No one shall be entitled to act as a trustee whether on appointment or on any re-appointment as Trustee until he or she has expressly acknowledged, in whatever was the Trustees decide, his or her acceptance of the office of Trustee of the Charity.
If a vacancy occurs, the Trustees must note the fact in the minutes of their next meeting. Any eligible Trustee may be re-appointed.
Organisational structure
The administration of the charity is undertaken by the Trustees. The Trustees must hold at least two ordinary meetings each year, one of which must involve the physical presence of those Trustees who attend the meeting.
Page 1
LAURIE & GILLIAN MARSH CHARITABLE TRUST
Report of the Trustees for the Year Ended 31 December 2020
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Any investment project undertaken by the charity is appraised for its risk to the charity before being undertaken and only those projects that guarantee a minimum return are undertaken. As such, any investment project undertaken will only be carried out where there is no apparent risk to the charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1103687
Principal address
30 Grove End Road London NW8 9LJ
Trustees
Dr L Marsh Mrs G Marsh Ms K S Marsh
The following Trustees held office during the whole of the period from 1 January 2020 to the date of this report:
Dr Laurie P Marsh Mrs Gillian Marsh Ms Katherine S Marsh
Independent Examiner
McPhersons Walpole Harding ACCA McPhersons Walpole Harding Chartered Certified Accountants Telecom House 125-135 Preston Road Brighton East Sussex BN1 6AF
Approved by order of the board of trustees on 28 May 2021 and signed on its behalf by:
Dr L Marsh - Trustee
Page 2
Independent Examiner's Report to the Trustees of Laurie & Gillian Marsh Charitable Trust
Independent examiner's report to the trustees of Laurie & Gillian Marsh Charitable Trust
I report to the charity trustees on my examination of the accounts of Laurie & Gillian Marsh Charitable Trust (the Trust) for the year ended 31 December 2020.
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').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
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 Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts 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 enable a proper understanding of the accounts to be reached.
McPhersons Walpole Harding ACCA McPhersons Walpole Harding Chartered Certified Accountants Telecom House 125-135 Preston Road Brighton East Sussex BN1 6AF
Date: .............................................
Page 3
LAURIE & GILLIAN MARSH CHARITABLE TRUST
Statement of Financial Activities
for the Year Ended 31 December 2020
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 21,001 Investment income 2 23,875 Total 44,876 EXPENDITURE ON Charitable activities 3 Donations 16,020 Property 5,960 Charity - Total 21,980 NET INCOME 22,896 RECONCILIATION OF FUNDS Total funds brought forward 908,380 TOTAL FUNDS CARRIED FORWARD 931,276 |
Restricted fund £ - - - - - - - - - - |
31.12.20 31.12.19 Total Total funds funds £ £ 21,001 95,166 23,875 24,600 44,876 119,766 16,020 19,113 5,960 1,974 - 180 21,980 21,267 22,896 98,499 908,380 809,881 931,276 908,380 |
31.12.20 31.12.19 Total Total funds funds £ £ 21,001 95,166 23,875 24,600 44,876 119,766 16,020 19,113 5,960 1,974 - 180 21,980 21,267 22,896 98,499 908,380 809,881 931,276 908,380 |
|---|---|---|---|
| 119,766 19,113 1,974 180 |
|||
| 21,267 | |||
| 98,499 809,881 |
|||
| 908,380 |
The notes form part of these financial statements
Page 4
LAURIE & GILLIAN MARSH CHARITABLE TRUST
Balance Sheet 31 December 2020
| Notes FIXED ASSETS Investment property 7 CURRENT ASSETS Debtors 8 Investments 9 Cash at bank CREDITORS Amounts falling due within one year 10 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 12 Unrestricted funds TOTAL FUNDS |
Unrestricted funds £ 600,000 - 258,259 311,790 570,049 (238,773) 331,276 931,276 931,276 |
Restricted fund £ - - - - - - - - - |
31.12.20 Total funds £ 600,000 - 258,259 311,790 570,049 (238,773) 331,276 931,276 931,276 931,276 931,276 |
31.12.19 Total funds £ 600,000 5,307 477,744 55,599 538,650 (230,270) 308,380 908,380 908,380 908,380 908,380 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 28 May 2021 and were signed on its behalf by:
L Marsh - Trustee
The notes form part of these financial statements
Page 5
LAURIE & GILLIAN MARSH CHARITABLE TRUST
Notes to the Financial Statements
for the Year Ended 31 December 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.12.20 | 31.12.19 | |
| £ | £ | |
| Rents received | 23,875 | 24,600 |
Page 6
continued...
LAURIE & GILLIAN MARSH CHARITABLE TRUST
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
3. CHARITABLE ACTIVITIES COSTS
| Donations Property 4. GRANTS PAYABLE Donations The total grants paid to institutions during the year wa British Humanist Association Population Matters Cavatina Trust Medecins Sans Frontieres Cinema Museum Feed The Minds British Heritage The Conway Ethical Society Humanity and Inclusion Evergreen Africa Tusk |
Grant funding of activities Direct (see note Support Costs 4) costs Totals £ £ £ £ - 15,060 960 16,020 6,356 - (396) 5,960 6,356 15,060 564 21,980 31.12.20 31.12.19 £ £ 15,060 19,113 s as follows: 31.12.20 31.12.19 £ £ 2,000 3,000 500 2,500 1,000 2,500 3,000 2,000 2,500 2,500 2,000 - - 1,000 - 1,600 - 2,000 1,000 - 1,000 - 13,000 17,100 |
Totals £ 16,020 5,960 |
|---|---|---|
| 21,980 | ||
| 17,100 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.
continued...
Page 7
LAURIE & GILLIAN MARSH CHARITABLE TRUST
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
| 6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 95,166 Investment income 24,600 Total 119,766 EXPENDITURE ON Charitable activities Donations 19,113 Property 1,974 Charity 180 Total 21,267 NET INCOME 98,499 RECONCILIATION OF FUNDS Total funds brought forward 809,881 TOTAL FUNDS CARRIED FORWARD 908,380 7. INVESTMENT PROPERTY FAIR VALUE At 1 January 2020 and 31 December 2020 NET BOOK VALUE At 31 December 2020 At 31 December 2019 |
Restricted fund £ - - - - - - - - - - |
Total funds £ 95,166 24,600 119,766 19,113 1,974 180 21,267 98,499 809,881 908,380 £ 600,000 600,000 600,000 |
Total funds £ 95,166 24,600 |
|---|---|---|---|
| 119,766 19,113 1,974 180 |
|||
| 21,267 | |||
| 98,499 809,881 |
|||
| 908,380 |
continued...
Page 8
LAURIE & GILLIAN MARSH CHARITABLE TRUST
| Notes to the Financial Statements- continued | Notes to the Financial Statements- continued | ||||
|---|---|---|---|---|---|
| for the Year Ended 31 December | 2020 | ||||
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 31.12.20 | 31.12.19 | ||||
| £ | £ | ||||
| Tax | - | 5,307 | |||
| 9. | CURRENT ASSET INVESTMENTS | ||||
| 31.12.20 | 31.12.19 | ||||
| £ | £ | ||||
| Other | 258,259 | 477,744 | |||
| During the year, an mount of £250,000 was received in respect of capital repayments towards investments made. | |||||
| The investment matured on 5 February 2021and the excess over | capital will be recognised in | full in the 2021 | |||
| financial statements. | |||||
| 10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 31.12.20 | 31.12.19 | ||||
| £ | £ | ||||
| Other creditors | 238,773 | 230,270 | |||
| 11. | LOANS | ||||
| An analysis of the maturity of loans is given below: | |||||
| 31.12.20 | 31.12.19 | ||||
| £ | £ | ||||
| Amounts falling due within one year on demand: | |||||
| Other loans | 237,909 | 229,310 | |||
| 12. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | At | ||||
| At 1.1.20 | in funds | 31.12.20 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 308,380 | 22,896 | 331,276 | ||
| Property | 600,000 | - | 600,000 | ||
| 908,380 | 22,896 | 931,276 | |||
| TOTAL FUNDS | 908,380 | 22,896 | 931,276 | ||
| Net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 44,876 | (21,980) | 22,896 | ||
| TOTAL FUNDS | 44,876 | (21,980) | 22,896 |
continued...
Page 9
LAURIE & GILLIAN MARSH CHARITABLE TRUST
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
12. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Property TOTAL FUNDS |
At 1.1.19 £ 209,881 600,000 809,881 809,881 |
Net movement in funds £ 98,499 - 98,499 98,499 |
At 31.12.19 £ 308,380 600,000 |
|---|---|---|---|
| 908,380 | |||
| 908,380 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 119,766 119,766 |
Resources Movement expended in funds £ £ (21,267) 98,499 (21,267) 98,499 |
Resources Movement expended in funds £ £ (21,267) 98,499 (21,267) 98,499 |
|---|---|---|---|
| 98,499 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Property TOTAL FUNDS |
At 1.1.19 £ 209,881 600,000 809,881 809,881 |
Net movement in funds £ 121,395 - 121,395 121,395 |
At 31.12.20 £ 331,276 600,000 |
|---|---|---|---|
| 931,276 | |||
| 931,276 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 164,642 | (43,247) | 121,395 |
| TOTAL FUNDS | 164,642 | (43,247) | 121,395 |
continued...
Page 10
LAURIE & GILLIAN MARSH CHARITABLE TRUST
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
13. RELATED PARTY DISCLOSURES
During the year, donations received without conditions from the Trustees and other related parties were £21,000 (2019: £81,536).
Page 11
LAURIE & GILLIAN MARSH CHARITABLE TRUST
| INCOME AND ENDOWMENTS Donations and legacies Gifts Donations Gift aid Investment income Rents received Total incoming resources EXPENDITURE Charitable activities Rental income costs Grants to institutions Support costs Governance costs Accountancy and legal fees Total resources expended Net income |
Detailed Statement of Financial Activities for the Year Ended 31 December 2020 31.12.20 31.12.19 £ £ 1 - 21,000 89,109 - 6,057 21,001 95,166 23,875 24,600 44,876 119,766 6,356 1,794 15,060 19,113 21,416 20,907 564 360 21,980 21,267 22,896 98,499 |
Detailed Statement of Financial Activities for the Year Ended 31 December 2020 31.12.20 31.12.19 £ £ 1 - 21,000 89,109 - 6,057 21,001 95,166 23,875 24,600 44,876 119,766 6,356 1,794 15,060 19,113 21,416 20,907 564 360 21,980 21,267 22,896 98,499 |
|---|---|---|
| 95,166 24,600 |
||
| 119,766 1,794 19,113 |
||
| 20,907 360 |
||
| 21,267 | ||
| 98,499 |
This page does not form part of the statutory financial statements
Page 12