R DAPHNE PLUNKET CHARITABLE TRUST
REGISTERED CHARITY No. 1105818
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
R DAPHNE PLUNKET CHARITABLE TRUST TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2021
CONTENTS
Page
1 Trustees and Administrative Information 2 - 3 Trustees’ Report 4 Independent Examiner’s Report 5 - 6 Statement of Financial Activities 7 Balance Sheet 8 - 13 Notes to the Accounts
R DAPHNE PLUNKET CHARITABLE TRUST
1
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mr C Smith (Chairman) |
|---|---|
| Mr A Jarvis | |
| Miss C Pharoah | |
| Mrs H Sahota (appointed May 2021) | |
| Mr C Saul | |
| Mr C Shevas | |
| Prof S Sharma | |
| Mr G Oliver | |
| Secretary | Mrs K Scranage |
| Charity No | 1105818 |
| Registered office and principal address | 20a Millstone Lane |
| Leicester LE1 5JN | |
| Bankers | Lloyds Bank Plc |
| 7 High Street | |
| Leicester LE1 9FS | |
| Administrators | Charity Link |
| 20a Millstone Lane | |
| Leicester LE1 5JN | |
| Accountants | Somerbys Ltd. |
| 30 Nelson Street | |
| Leicester LE1 7BA | |
| Investment Advisers | Rowley Turton (IFA) Ltd. |
| Charnwood House, Harcourt Way | |
| Meridian Business Park | |
| Leicester LE19 1WP | |
| CCLA | |
| Senator House, 85 Queen Victoria Street | |
| London EC4V 4ET | |
| Charles Stanley Ltd. | |
| 4thFloor, Mercury Place | |
| Leicester LE1 1QG |
R DAPHNE PLUNKET CHARITABLE TRUST
2
TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2021
___________
The Trustees present their report and accounts for the year ended 31 March 2021. This report is prepared in accordance with the Trust Deed and the recommendations of the Statement of Recommended Practice — Accounting and Reporting by Charities and complies with applicable law.
Objects
The principle object of the Fund is the relief of those persons living in Leicestershire and Rutland who are in financial need, hardship or distress in such ways as the Trustees think fit, in particular but not exclusively through the provision of grants. The Trustees may also make grants or donations to charitable institutions or organisations having for their object the relief of such persons.
Structure, Governance and Management
The Trust was established under a Deed of Trust dated 19 January 2004.
Trustees
Details of the Trustees who have served during the year and since the year-end can be found on page 1.
Appointment of Trustees
The Trust Deed provides for a minimum of three Trustees and any new Trustees are appointed by a resolution of the Trustees at a special meeting called under Clause 15 of the Deed. A copy of the Deed of Trust and any amendment to it and a copy of the Trust’s latest annual report and accounts are provided to any new Trustee.
Public Benefit
The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Charity’s aims and objectives and in planning future activities.
Administration and Meetings
The Trust engages the services of Charity Link (Leicester Charity Organisation Society), who act as Clerk to the Trustees, to look after the day to day functions and arrange meetings of the Board of Trustees. The Trustees held one meeting during the year. Issues arising with regard to the Trust are also reported to the Trustees of Charity Link, being jointly Trustees of R Daphne Plunket, at their quarterly meetings.
Risk Management
The Trustees continue to assess the major risks to which the Trust is exposed and are satisfied that systems are in place to mitigate exposure to these risks. The main risk to the Trust is considered to be fluctuations in investment performance, including the impact of Covid-19. Investment Managers are appointed.
Achievements and Performance
The Trustees continued to provide assistance to people living in Leicestershire and Rutland who are in financial need, hardship or distress, either directly or through organisations which provide appropriate services.
The amount of grants awarded and paid to individuals and institutions during the year was £14,603, which compared with £12,136 during the previous year.
Investments
The Trustees have wide powers to invest money in the purchase of stocks, shares, funds, securities or other investments at their absolute discretion. The investments are reviewed in conjunction with the stockbrokers on a regular basis. At the end of the financial year, the market value of the investment portfolio was £2,368,385, excluding un-invested cash, compared with £398,898 a year earlier. The significant increase reflected a donation of £2,750,000 in endowed funds, which was transferred to investment during the year. There was an overall revaluation surplus of £240,847 compared with a deficit of £86,263 the previous year.
R DAPHNE PLUNKET CHARITABLE TRUST
3
TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2021
Financial Review
A significant endowment of £2,750,000 had been received during the prior year from dissolving charity the Cotton Trust. The statement of financial activities on page 4 therefore shows net incoming resources for the year of £12,935 compared with incoming resources of £2,761,287 for the previous year. Income in the year decreased from £2,781,140 (£31,140 excluding the endowment received) to £36,423 and total resources expended increased from £19,853 to £23,488. There were realised and unrealised gains on investments of £241,490. At the end of the year, the endowment fund stood at £3,405,102, represented by listed investments at market value and un-invested cash. The restricted fund, comprising net current assets arising from the restricted portion of the endowments, stood at £26,806 and unrestricted funds totalled £6,494, representing the balance of net current assets. Total assets at the year-end were therefore £3,438,402.
Reserves Policy
It is the policy of the Trustees to maintain unrestricted funds, which include the free reserves of the Trust, at a level that, in the event of a significant fall in income, would provide sufficient funds to meet the ongoing operating expenditure.
Statement of Trustees’ Responsibilities
The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards.
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the Trust and of the incoming resources and application of resources for the Trust for that period. In preparing these financial statements, the Trustees are required to:
-
Select suitable accounting policies 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 accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Trust will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Trust and enable them to ensure that the financial statements comply with applicable law, regulations and the Trust Deed. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Advisers
The Trustees wish to record their thanks to all of their professional advisers for their help and advice throughout the year.
On behalf of the board of Trustees
C E Smith
Chairman 30[th] November 2021
4
INDEPENDENT EXAMINER’S REPORT
TO R DAPHNE PLUNKET CHARITABLE TRUST
FOR THE YEAR ENDED 31 MARCH 2021
I report to the Trustees of R Daphne Plunket Charitable Trust on my examination of the accounts of the Charity for the year ended 31 March 2021.
RESPONSIBILITIES AND BASIS OF REPORT
As Trustees of the Foundation, 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 Foundation’s accounts carried out under section 145 of the Act and in carrying out my examination, I have followed all the 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:
-
1 accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
-
2 the accounts do not accord with those records.
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.
A M West FCA
Somerbys Chartered Accountants 30 Nelson Street Leicester LE1 7BA
R DAPHNE PLUNKET CHARITABLE TRUST
5
STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31st MARCH 2021
| Unrestricted | Restricted | Endowment | 2021 | 2020 | ||
|---|---|---|---|---|---|---|
| Current financial year | Notes | Funds | Funds | Funds | Total | Total |
| Incoming resources | ||||||
| Income and endowments from: | ||||||
| Bank interest | - | 1,992 | - | 1,992 | 11,160 | |
| Investments | 14,816 | 19,615 | - | 34,431 | 19,980 | |
| Donations and legacies | - | - | - | - | 2,750,000 | |
| ------------ | ------------ | ------------ | ------------ | ------------ | ||
| Total incoming resources | 14,816 | 21,607 | - | 36,423 | 2,781,140 | |
| ------------ | ------------ | ------------ | ------------ | ------------ | ||
| Resources expended | ||||||
| Expenditure on: | ||||||
| Charitable activity: | ||||||
| Grants | 2 | 14,603 | - | - | 14,603 | 12,136 |
| Management and Administration of | ||||||
| the Charity | 3 | 324 | - | - | 324 | 311 |
| Cost of generating funds: | ||||||
| Investment management costs | 2,422 | 2,369 | - | 4,791 | 2,680 | |
| Governance costs | 3 | 2,518 | 1,252 | - | 3,770 | 4,726 |
| ------------ | ------------ | ------------ | ------------ | ------------ | ||
| Total resources expended | 19,867 | 3,621 | - | 23,488 | 19,853 | |
| ------------ | ------------ | ------------ | ------------ | ------------ | ||
| Net income/(expenditure) before investments | (5,051) | 17,986 | - | 12,935 | 2,761,287 | |
| ------------ | ------------ | ------------ | ------------ | ------------ | ||
| Net gains (losses) on investments: | ||||||
| Realised | - | - | 643 | 643 | 354 | |
| Unrealised | - | - | 240,847 | 240,847 | (86,263) | |
| ------------ | ------------ | ------------ | ------------ | ------------ | ||
| Net movement in funds | (5,051) | 17,986 | 241,490 | 254,425 | 2,675,378 | |
| Reconciliation of funds: | ||||||
| Fund balances brought forward | ||||||
| as at 1st April 2020 | 11,545 | 8,820 | 3,163,612 | 3,183,977 | 508,599 | |
| ------------ | ------------ | ------------ | ------------ | ------------ | ||
| Fund balances carried forward | ||||||
| at 31st March 2021 | £6,494 | £26,806 | £3,405,102 | £3,438,402 | £3,183,977 | |
| ====== | ====== | ======= | ======= | ======= |
R DAPHNE PLUNKET CHARITABLE TRUST
6
STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31st MARCH 2021
| Unrestricted | Restricted | Endowment | 2020 | ||
|---|---|---|---|---|---|
| Prior financial year | Notes | Funds | Funds | Funds | Total |
| Incoming resources | |||||
| Income and endowments from: | |||||
| Bank interest | - | 11,160 | - | 11,160 | |
| Investments | 19,980 | - | - | 19,980 | |
| Donations and legacies | - | - | 2,750,000 | 2,750,000 | |
| ------------ | ------------ | ------------ | ------------ | ||
| Total incoming resources | 19,980 | 11,160 | 2,750,000 | 2,781,140 | |
| ------------ | ------------ | ------------ | ------------ | ||
| Resources expended | |||||
| Expenditure on: | |||||
| Charitable activity: | |||||
| Grants | 2 | 12,136 | - | - | 12,136 |
| Management and Administration of | |||||
| the Charity | 3 | 311 | - | - | 311 |
| Cost of generating funds: | |||||
| Investment management costs | 2,680 | - | - | 2,680 | |
| Governance costs | 3 | 2,386 | 2,340 | - | 4,726 |
| ------------ | ------------ | ------------ | ------------ | ||
| Total resources expended | 17,513 | 2,340 | - | 19,853 | |
| ------------ | ------------ | ------------ | ------------ | ||
| Net income/(expenditure) before investments | 2,467 | 8,820 | 2,750,000 | 2,761,287 | |
| ------------ | ------------ | ------------ | ------------ | ||
| Net gains (losses) on investments: | |||||
| Realised | - | - | 354 | 354 | |
| Unrealised | - | - | (86,263) | (86,263) | |
| ------------ | ------------ | ------------ | ------------ | ||
| Net movement in funds | 2,467 | 8,820 | 2,664,091 | 2,675,378 | |
| Reconciliation of funds: | |||||
| Fund balances brought forward | |||||
| as at 1st April 2019 | 9,078 | - | 499,521 | 508,599 | |
| ------------ | ------------ | ------------ | ------------ | ||
| Fund balances carried forward | |||||
| at 31st March 2020 | £11,545 | £8,820 | £3,163,612 | £3,183,977 | |
| ====== | ====== | ======= | ======= |
R DAPHNE PLUNKET CHARITABLE TRUST
7
BALANCE SHEET AT 31st MARCH 2021
| Notes | 2021 | 2020 | |||
|---|---|---|---|---|---|
| Fixed assets: | |||||
| Investments | 4 | 2,368,385 | 398,898 | ||
| Current assets: | |||||
| Debtors | 5 | - | 1,014 | ||
| Cash at bank: | Alliance Trust | 6,769 | 2,917 | ||
| Lloyds Bank | 1,053,571 | 36,935 | |||
| Transact | 15,331 | - | |||
| COIF | - | 2,750,000 | |||
| ------------ | ------------ | ||||
| 1,075,671 | 2,790,866 | ||||
| ------------ | ------------ | ||||
| Current liabilities: | 6 | ||||
| Trade creditors | - | 3,447 | |||
| Accruals | 5,654 | 2,340 | |||
| ------------ | ------------ | ||||
| 5,654 | 5,787 | ||||
| ------------ | |||||
| Net current assets | 1,070,017 | 2,785,079 | |||
| ------------ | ------------ | ||||
| Net assets | £3,438,402 | £3,183,977 | |||
| ====== | ====== | ||||
| Funds: | |||||
| Endowment funds | 8 | 3,405,102 | 3,163,612 | ||
| Restricted funds | 7 & 8 | 26,806 | 8,820 | ||
| Unrestricted funds | 8 | 6,494 | 11,545 | ||
| ------------ | ------------ | ||||
| £3,438,402 | £3,183,977 | ||||
| ======= | ======= |
Approved by the Trustees on 30th November 2021 and signed on their behalf by:
C E SMITH - CHAIRMAN
R DAPHNE PLUNKET CHARITABLE TRUST
8
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31st MARCH 2021
- Basis of preparation
The financial statements have been prepared on a going concern basis under the historical costs convention as modified by the revaluation of investments, with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these financial statements. The financial statements are presented in sterling, which is the functional currency of the charity.
The financial statements have been prepared in accordance with the Statement of Recommended
Practice: 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) issued on 16th July 2014 (as updated through Update Bulletin 1 published on 2nd February 2016), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1st January 2015.
The charity has applied Update Bulletin 1 as published on 2nd February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.
The Trust constitutes a public benefit entity as defined by FRS 102.
Accounting policies
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
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1.1 Recognition of income Incoming resources are accounted for when the charity becomes entitled to the resources, it is more likely than not that the trustees will receive the resources, and the monetary value can be measured with sufficient reliability.
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1.2 Income from interest and dividends This is included in the accounts when receipt is probable and the amount receivable can be measured reliably.
-
1.3 Investment gains and losses Investments are stated at market value at the balance sheet date. Unrealised and realised investment gains and losses are shown net in the statement of financial activities and are calculated on the original purchase cost of the investment and not the 'transferred in' value.
-
1.4 Recognition of liabilities Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
-
1.5 Governance and support costs Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice (e.g. legal advice, trustee meetings, accounts).
-
Support costs are those that assist the work of the charity but do not directly represent charitable activities. These include central functions such as office costs.
R DAPHNE PLUNKET CHARITABLE TRUST
9
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31st MARCH 2021
| 1.6 | Grants payable |
|---|---|
| Grants payable to third parties are within the charitable objectives. Where unconditional | |
| grants are offered, the full amount is accrued as soon as the recipient is notified of the | |
| grant, as this gives rise to a reasonable expectation that the recipient will receive the grant. | |
| Where the charity gives a grant with conditions for its payment being a specific output to | |
| be provided, such grants are only recognised once the recipient has provided confirmation | |
| of the specified output. | |
| 1.7 | Creditors |
| Creditors are recognised on the accruals basis at settlement amounts. | |
| 1.8 | Financial instruments |
| The charity applies the provisions of Sections 11 and 12 of FRS 102 to all of its financial | |
| instruments. Financial instruments are recognised in the financial statements when the | |
| charity becomes party to the contractual provisions of the instrument. Financial assets | |
| and liabilities are offset, with the net amounts presented in the financial statements, | |
| when there is a legally enforceable right to set off the recognised amounts and there is | |
| an intention to settle on a net basis or to realise the asset and settle the liability | |
| simultaneously. | |
| 1.9 | Investments |
| Investments are recognised initially at cost and subequently at fair value (their market | |
| value) at the year-end, with any changes in value recognised in 'Net gains/(losses) on | |
| investments' in the statement of financial activities if the shares are publicly traded or | |
| their value can otherwise be measured reliably. | |
| 1.10 | Debtors |
| Debtors are recognised at settlement amount after any amount advanced by the charity. | |
| Subsequently, they are measured at the cash or other consideration expected to be | |
| received. | |
| 1.11 | Current asset investments |
| Investments held for resale or pending their sale and cash and cash equivalents are | |
| treated as current asset investments. These include cash on deposit and cash equivalents | |
| with a maturity date of less than one year held for investment purposes rather than to meet | |
| short term cash commitments as they fall due. They are valued at fair value except where | |
| they qualify as basic financial instruments. |
R DAPHNE PLUNKET CHARITABLE TRUST
10
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31st MARCH 2021
- Grants
The Trust makes occasional grants to institutions. The purpose of all such grants is to support projects that will meet the charitable objects of the Trust.
| Grants to institutions: | 2021 | 2020 |
|---|---|---|
| Leicester Hospitals Charity | 240 | - |
| Westfield Community Development Association | 500 | - |
| Samaritans of Leicester, Leicestershire & Rutland | 300 | - |
| Goldhill Play Association | 300 | - |
| Friends of St Andrew's Church Carlton | 500 | - |
| Arthritis Support Leicestershire | 500 | - |
| Chroma Church Food Bank | 100 | - |
| Hospice Hope | 317 | - |
| Church of the Martyrs (Baby Basics) | 400 | - |
| Helping Hands Community Trust | 343 | - |
| TwentyTwenty | - | 1,000 |
| Leicestershire Puntland Community Organisation | - | 120 |
| Justice Upheld | - | 500 |
| Church of the Martyrs (Money Matters Leicester) | - | 300 |
| Home-Start South Leicestershire | - | 300 |
| Action Homeless | - | 450 |
| Harborough District Children & Young People's Charity | - | 500 |
| ---------- | ---------- | |
| 3,500 | 3,170 | |
| Grants to individuals | 11,103 | 8,966 |
| ---------- | ---------- | |
| Total grants paid | £14,603 | £12,136 |
| ===== | ===== | |
| Support and governance costs | ||
| Support costs: | 2021 | 2020 |
| Administration - LCOS | 288 | 273 |
| Bank charges | - | |
| Miscellaneous & office costs | 36 | 38 |
| ---------- | ---------- | |
| £324 | £311 | |
| Governance costs: | ||
| Administration - LCOS | 1,635 | 1,544 |
| Accountancy | 995 | 842 |
| Audit fees | 1,140 | 2,340 |
| ---------- | ---------- | |
| £3,770 | £4,726 |
R DAPHNE PLUNKET CHARITABLE TRUST
11
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31st MARCH 2021
| 4. | Fixed assets investments | 2021 | 2020 |
|---|---|---|---|
| Market value at 1st April, 2020 | 398,898 | 484,807 | |
| Additions | 1,734,633 | 51,389 | |
| Disposals | (5,992) | (51,035) | |
| Net unrealised investment (losses)/gains | 240,846 | (86,263) | |
| ------------- | ------------- | ||
| Market value at 31st March, 2021 | £2,368,385 | £398,898 | |
| ======= | ======= | ||
| Historic cost at 31st March, 2021 | £2,176,691 | £449,056 | |
| ======= | ======= | ||
| 5. | Debtors and prepayments | 2021 | 2020 |
| Debtors | - | - | |
| Prepayments and accrued income | - | 1,014 | |
| ------------- | ------------- | ||
| - | £1,014 | ||
| ======= | ======= | ||
| 6. | Creditors and accruals | 2021 | 2020 |
| Accruals | 4,094 | 2,340 | |
| Trade creditors | - | 3,447 | |
| Accrued grants | 1,560 | - | |
| ------------- | ------------- | ||
| £5,654 | £5,787 | ||
| ======= | ======= |
7. Restricted funds
The income funds of the Trust include restricted funds that are generated for specific purposes, as follows:
| Balance | Incoming | Expenditure | Gains | Balance | |
|---|---|---|---|---|---|
| 01/04/2020 | 31/03/2021 | ||||
| The Cotton Trust Restricted Fund | 6,615 | 16,205 | (2,716) | - | 20,104 |
| The Cotton Trust Charity Link Fund | 2,205 | 5,402 | (905) | - | 6,702 |
The Cotton Trust Restricted Fund: -
75% of the income generated to provide donations to the residents of Leicestershire and Rutland for: -
-
The relief of poverty
-
Provision of support funding towards the costs of specialist mobility equipment
The Cotton Turst Charity Link Fund: -
25% of the income generated to support the activities of Charity Link in relieving poverty and support for the provision of specialist mobility equipment.
R DAPHNE PLUNKET CHARITABLE TRUST
12
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31st MARCH 2021
8. Analysis of net assets between funds
The expendable endowment fund is to be invested and the income used for any charitable purpose at the discretion of the Trustees. The expendable endowment may also be spent at the absolute discretion of the Trustees.
The permanent endowment fund is to be invested and the income used for the restricted funds as follows: -
- 1 - 75% of the income generated to provide donations to the residents of Leicestershire and Rutland for: - The relief of poverty
Provision of support funding towards the costs of specialist mobility equipment 2 - 25% of the income generated to support the activities of Charity Link in relieving poverty and support for the provision of specialist mobility equipment.
| Expendable | Permanent | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowed | Endowed | Total | ||
| Funds | Funds | Funds | Funds | 2021 | ||
| see note 7 | ||||||
| Fund Balances at 31st March, 2021 are | ||||||
| represented by: - | ||||||
| Investments | - | - | 488,316 | 1,880,069 | 2,368,385 | |
| Current assets | 10,896 | 28,058 | 36,717 | 1,000,000 | 1,075,671 | |
| Current liabilities | (4,402) | (1,252) | - | - | (5,654) | |
| ------------- | ------------- | ------------- | ------------- | ------------- | ||
| Total net assets | £6,494 | £26,806 | £525,033 | £2,880,069 | £3,438,402 | |
| ======= | ======= | ======= | ======= | ======= | ||
| Unrealised gains/(losses) included above | ||||||
| on investments (see below) | - | - | £46,257 | £145,437 | £191,694 | |
| ======= | ======= | ======= | ======= | ======= | ||
| Reconciliation of movements in | ||||||
| unrealised gains/(losses) on investments:- | ||||||
| At 31st March, 2020 | - | - | (50,158) | - | (50,158) | |
| Addback in respect of disposal in year | - | - | 1,005 | - | 1,005 | |
| ------------- | ------------- | ------------- | ------------- | ------------- | ||
| - | - | (49,153) | - | (49,153) | ||
| Add: Net gains/(losses) arising on | ||||||
| revaluation in year | - | - | 95,410 | 145,437 | 240,847 | |
| ------------- | ------------- | ------------- | ------------- | ------------- | ||
| At 31st March, 2021 | - | - | £46,257 | £145,437 | £191,694 | |
| ======= | ======= | ======= | ======= | ======= | ||
| Reconciliation of unrealised gains 2020/21: | ||||||
| Permanent Endowment: | ||||||
| Cotton LCOS | 36,359 | |||||
| Cotton Grants | 109,078 | |||||
| 145,437 | ||||||
| Expendable Endowment: | ||||||
| RDP & Soroptimist Funds | 95,410 | |||||
| Total | 240,847 |
R DAPHNE PLUNKET CHARITABLE TRUST
13
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31st MARCH 2021
9. Trustees' remuneration and expenses
No remuneration or expenses have been paid to trustees during the year.
10. Related party transactions
The R Daphne Plunket Charitable Trust is administered by Leicester Charity Organisation Society (Charity Link), 20A Millstone Lane, Leicester LE1 5JN. The Trustees are jointly Trustees of Charity Link.
Rowley Turton (IFA) Ltd. act as Investment Advisers to the Trust, although the investments are held by Alliance Trust Savings and on the Transact platform. Mr A H Jarvis, Trustee, was also a director of Rowley Turton (IFA) during the period.
Related party transactions during the period can be summarised as follows:
| Charity Link | Administration fees | £1,923 |
|---|---|---|
| Charity Link | Accountancy fees | £995 |
| Charity Link | Office costs | £36 |
| Rowley Turton IFA | Investment management fees | £4,791 |