The Brian Leslie Racher 2004 Charitable Trust
Trustees’ report for the year ended 31 March 2024
The trustees present their report and accounts for the year ended 31 March 2024
The accounts have been prepared under the historical cost convention modified to include the revaluation of the Investments at the 31 March 2024 and comply with the charity’s trust deed, applicable law and the requirements of the Statement of Recommended Practice, “Accounting and Reporting by Charities”, issued in March 2005.
Objects of the charity
The Trust was founded on the death of Brian Racher. The Trust’s objects are to promote any charitable purpose for the benefit of the inhabitants of the larger of the parish boundaries of Royston, Herts and two miles from the parish of St John the Baptist, Royston, Herts.
The trustees can accrue the income from year to year or for as long as the law shall allow and the Trustees may distribute such accrued income in any subsequent year as if it were income of that year.
Any accumulations of income may at the sole discretion of the trustees be added to the Capital of the Charity and form part of the permanent foundation.
Review of activities
The trustees have received applications for grants during the year and a full list of grants made is shown under Note 3 in the accounts.
Trustees
The trustees who served during the year were:
W D Bannister Mrs A M Bannister Mrs A M Drake D H Smyth P J Mayne Mrs S P Thornton M Lawrence J Proctor C Boughton
Review of financial position
Investment income totalled £106,365 and grants paid out totalled £91,534. The balance held at the year end for future grants and capital acquisitions amounted to £102,948.
The trustees continue to use a clerk to deal with the day to day administration matters of the grant application process.
Risk factors
The trustees have assessed the major risks to which the trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
On behalf of the board of trustees
D H Smyth Trustee
24 January 2025
The Brian Leslie Racher 2004 Charitable Trust
Receipts and payments for the year ended 31 March 2024
| Notes Receipts Investment Income 1 Capital reinvested 5 Investments sold 2 Payments Grants paid out 4 Investment purchases 2 Capital reinvested 5 Administration costs 3 Total payments Excess of payments over receipts Balance brought forward General surplus carried forward |
2024 106,365.09 60,000.00 257,487.65 423,852.24 91,534.48 362,912.15 60,000.00 23,329.82 537,775.95 -113,923.71 216,871.43 102,947.72 |
2023 88,291 123,023 295,777 507,091 37,664 474,609 123,023 22,791 658,087 -150,996 367,867 216,871 |
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The Brian Leslie Racher 2004 Charitable Trust
Statement of assets and liabilities as at 31 March 2024
| Notes Cash funds Barclays Bank Plc Base Rate Tracker Income Current Account Evelyn Partners Capital Income Total cash funds Investment assets Evelyn Partners Share portfolio at valuation 2 Freehold properties 6 Roan Walk, Royston, Herts at cost 4 33 Nightingale Way Royston at cost 4 Total investment assets |
2024 70,175.39 2,748.65 15,310.54 14,713.14 102,947.72 3,306,749.80 207,393.98 357,385.00 3,871,528.78 |
2023 33,910 88,858 78,665 15,439 216,871 3,124,644 207,394 357,385 3,689,423 |
|---|---|---|
The Brian Leslie Racher 2004 Charitable Trust
Notes to the accounts for the year ended 31 March 2024
| 1 Investment income Income from listed investments Investment property rental income less expenditure Interest 2 Investments The investment portfolio is managed by Evelyn Partners 3 Grants paid out Royston Evangelical Church - Foodbank Royston Heritage Group Trinity Life Church - Make Lunch Trinity Life Church - Pathways Royston Radio Royston PCC Homestart Madison Watson Royston Museum Trust Royston Heath Archery Club Royston Methodist Church Creative Royston Churches Together Royston Choral Society 3 Administration costs Professional fees LSE Fees Portfolio charges |
2024 83,848.48 21,190.68 1,325.93 106,365.09 6000.00 11759.00 5000.00 3940.50 10000.00 15000.00 3283.98 1000.00 16901.00 4000.00 10000.00 3300.00 350.00 1000.00 91534.48 5,400.00 72.00 17,857.82 23,329.82 |
2023 78,989 8,849 454 88,291 37,664 4,800 0 17,991 22,791 |
|---|---|---|
4 Freehold properties
The Trust owns two investment properties in Royston as detailed and these are currently let and producing income for the Trust. The properties are managed by SAB Royston Branch.
5 Capital reinvestment
The Trust has transferred £60,000 from the Barclays account to the Investment Portfolio as there was surplus cash held.
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The Brian Leslie Racher 2004 Charitable Trust
Accounts for the year ended
31st March 2024
Charity Registration No. 1108727
The Brian Leslie Racher 2004 Charitable Trust
Independent Examiner’s Report To The Trustees of the Brian Leslie Racher 2004 Charitable Trust
I report on the accounts of the Trust for the year ended 31 March 2024
Respective responsibilities of trustees and examiner
As the charity’s trustees, 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 accounts carried out under section 145 of the 2011 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
Basis of independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. 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 seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
I have competed my examination. I confirm that no material matters have come to my attention in connection with the examination:
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(a) which gives me reasonable cause to believe that in any material respect the requirements:
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(1) to keep accounting records in accordance with section 130 of the 2011 Act; and
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(2) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act;
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have not been met; or
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(b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts reached.
S P Rouse FCA Chartered Accountant 20 Parklands Royston Herts SG8 9HL
- 24 January 2025