DocuSign Envelope ID: 112C0F23-F077-4B81-907B-67CC0D1E000F
Registered Number 1110118
## THE DALBY CHARITABLE TRUST
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS
5 April 2023
DocuSign Envelope ID: 112C0F23-F077-4B81-907B-67CC0D1E000F
## THE DALBY CHARITABLE TRUST
## CONTENTS
||Page|
|---|---|
|Trustees’ annual report|1 – 2|
|Statement of trustees’ responsibilities|3|
|Independent examiners’ report|4|
|Receipts and payments|5|
|Statement of assets and liabilities|6|
|Notes to the financial statements|7 - 12|
DocuSign Envelope ID: 112C0F23-F077-4B81-907B-67CC0D1E000F
## THE DALBY CHARITABLE TRUST
TRUSTEES’ ANNUAL REPORT
REFERENCE AND ADMINISTRATION DETAILS:
|EFERENCE AND ADMINISTRATION
ETAILS:||
|---|---|
|Registered charity name:|The Dalby Charitable Trust|
|Registered charity number:|1110118|
|Principal address|20 Brompton Square|
||London|
||SW3 2AD|
|Trustees|Patrick Claude John Dalby|
||Lucy Margaretta Hyacinthe Dalby|
||Patrick Valerian Smiley|
|Advisors:||
|Banker|Weatherbys Bank|
||Sanders Road|
||Wellingborough|
||Northants|
||NN8 4BX|
|Solicitor|Charles Russell|
||8-10 New Fetter Lane|
||London|
||EC4A 1RS|
|Investment managers|Cazenove Capital Management Limited|
||1 London Wall Place|
||London|
||EC2Y 5AU|
|Accountant|Deloitte LLP|
||1 Station Square|
||Cambridge|
||CB1 2GA|
|Independent examiner (when required)|C P J Dougherty, FCA|
||Lakin Rose Limited|
||Pioneer House|
||Vision Park|
||Cambridge|
||CB24 9NL|
|STRUCTURE, GOVERNANCE AND||
|MANAGEMENT:||
|Governing document and|The charity was formed under a declaration of|
|Constitution|trust for charitable purposes on 28 April 2005.|
|Trustee selection methods|The power of appointment of trustees is vested|
||in the existing trustees by a resolution passed at|
||a meeting of the trustees. There shall be at least|
||three and no more than five trustees.|
1
DocuSign Envelope ID: 112C0F23-F077-4B81-907B-67CC0D1E000F
THE DALBY CHARITABLE TRUST TRUSTEES’ ANNUAL REPORT OBJECTIVES AND ACTIVITIES: Summary of objectives as set out in the governing document
Summary of main activities undertaken for the public benefit
The objects of the charity are to pay the income and such part of the capital as the trustees may decide to such charity in any part of the world as are exclusively charitable and in particular for the relief of financial hardship either generally or individually of people living in the United Kingdom by making grants of money for providing or paying for items, services or facilities.
Eighteen donations were made during the year totalling £100,000. Twelve donations repeated support given in previous years.
The donations were categorised as follows: -
The Arts 2 donations Armed Service Veterans 5 donations Underpriveledged Children 7 donations Prison Welfare 1 donations Family Welfare 1 donations Other 2 donations
The trustees confirm that they have referred to the Charity Commission’s general guidance on public benefit when making donations and agreeing the distribution policy for the year.
Summary of main achievements for the year
During the year, Mr Patrick Dalby donated shares to the trust which were valued at £110,754.
Donations totalling £100,000 were granted to charitable organisations during the year.
FINANCIAL REVIEW: The trustees consider the assets of the trust as Policy on reserves “expendable endowment” to provide income from which to make donations and not as reserves.
Any unrestricted funds not committed or invested in tangible fixed assets (‘the free reserves’) are held to fund management, administration and support costs and continuing donations in furtherance of the charity’s objectives.
…………………………….. ………………………………… …………………………….. TRUSTEE TRUSTEE TRUSTEE
2
DocuSign Envelope ID: 112C0F23-F077-4B81-907B-67CC0D1E000F
## THE DALBY CHARITABLE TRUST
## STATEMENT OF TRUSTEES’ RESPONSIBILITIES
The Charities Act 2011 requires the trustees to prepare a statement of accounts for each financial year which comply with the regulations made under the Act. The financial statements are prepared on a cash basis and must properly present the receipts and payments for the financial year and the balances held at the end of the year.
The trustees are responsible for keeping proper accounts. The trustees must ensure that proper financial procedures are followed and that accounting records are maintained in the form prescribed, and all assets for which they are responsible are safeguarded.
3
DocuSign Envelope ID: 112C0F23-F077-4B81-907B-67CC0D1E000F
## THE DALBY CHARITABLE TRUST
INDEPENDENT EXAMINER’S REPORT For the year ended 5 April 2023
## Independent examiner’s report to the trustees of The Dalby Charitable Trust
I report on the accounts of the charitable trust for the year ended 5 April 2023, which are set out on pages 5 to 8.
This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011 and regulations made under section 145 (5) (b) of that Act. 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.
## Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year (under section 145(1) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts (under section 145 of the 2011 Act);
- to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act); and
- to state whether particular matters have come to my attention.
## Basis of independent examiner’s report
My examination was carried out in accordance with 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 the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
## Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
- (1) which gives me reasonable cause to believe that, in any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the 2011 Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
- have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed: Dated: 4 March 2024 C P J Dougherty, FCA Lakin Rose Limited Pioneer House Vision Park Histon, Cambridge. CB24 9NL
4
## THE DALBY CHARITABLE TRUST
## RECEIPTS AND PAYMENTS
year ended 5 April 2023
||Notes||2023||2022|
|---|---|---|---|---|---|
|RECEIPTS|||£||£|
|From voluntary sources||||||
|Donation|||25,000||30,000|
|Investment income||||||
|UK Unit Trusts|||14,965||14,858|
|Foreign Unit Trusts|||5,547||5,577|
|UK Interest|||244||-|
|Receipts sub-totals|||45,756||50,435|
|Miscellaneous receipts||||||
|HMRC Repayment|||-||-|
|Equalisation|||19||462|
|Investment transactions - disposals|||280,224||135,721|
|TOTAL RECEIPTS FOR YEAR|||325,999||186,618|
|PAYMENTS||||||
|Charitable expenditure||||||
|Donations|||100,000||100,000|
|Other expenditure||||||
|Accountancy fee|||3,210||2,940|
|Independent examiner's fees|||||840|
|LEI Application fee|||83||145|
|Management expenses|||3,725||3,664|
|Payments sub-totals|||107,018||107,589|
|Miscellaneous payments||||||
|Investment transactions - purchases|||162,208||113,819|
|TOTAL PAYMENTS FOR YEAR|||269,226||221,407|
|Net receipts/(payments)|||56,773||(34,790)|
|Cash funds held at 5 April 2022|||8,438||43,228|
|Cash funds held at 5 April 2023||£|65,211|£|8,438|
5
## THE DALBY CHARITABLE TRUST
STATEMENT OF ASSETS AND LIABILITIES 5 April 2023
||Notes
2023
2022
CASH FUNDS
£
£
Cash at bank
£
65,211
£
8,438
OTHER MONETARY ASSETS
Debtor
Dividend due
38
Tax reclaim - 2023
20,454
Tax reclaim - 2022
-
24,545
Tax reclaim - 2021
-
15,545
£
20,492
£
40,090
INVESTMENT ASSETS
Valuation provided by Schroder & Co. Limited
2
£
759,830
£
793,641
LIABILITIES
Management and administration expenses:
Accounts preparation
(3,360)
(3,210)
Independent examination
(960)
(840)
Independent examination - 2022 underprovision
(120)
£
(4,440)
£
(4,050)
TOTAL UNRESTRICTED FUNDS
£
841,093
£
838,119
Approved by the trustees and signed by:
Patrick Claude John Dalby
Lucy Margaretta Hyacinthe Dalby
Patrick Valerian Smiley
Date|2022
£|
|---|---|---|
||||
||||
||||
||||
6
## THE DALBY CHARITABLE TRUST
## NOTES TO THE FINANCIAL STATEMENTS
year ended 5 April 2023
## 1. ACCOUNTING POLICIES
The financial statements are prepared on a Receipts and Payments basis in accordance with Section 133 of the Charities Act 2011.
Particular accounting policies adopted by the trustees are described below.
## a) Income and expenditure
Income and expenditure is accounted for on a receipts and payments basis.
## b) Investments
Investments listed on a recognised stock exchange are shown in the statement of assets and liabilities at their market value at the year end. The valuation was provided by Schroder & Co. Limited.
## 2. INVESTMENT ASSETS
|INVESTMENT ASSETS||
|---|---|
|2023
Quoted investments
Market value at 6 April 2022
793,641
Additions at value/cost
162,208
Disposal proceeds
(280,224)
Realised and unrealised gains and losses
84,205
Market value at 5 April 2023
£
759,830
£
Book cost at 5 April 2023
£
726,681
£|2022
710,263
113,819
(135,721)
105,280|
||793,641|
|||
||715,050|
## 3. RELATED PARTY TRANSACTIONS
A donation of 831 Findlay Park income units were received
from Mr Patrick Dalby (trustee) during the year. The units were independently valued at £110,754 at the date of the transfer.
7
## THE DALBY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS year ended 5 April 2023
## 4. DONATIONS
|Payee
3H Fund
Adapt
Army Benevolent Fund
Burma Star Memorial Fund
Childhood Trust
Combat Stress
Coram
Criminon
Demand
Disabled Veterans Scholarships
Edward V11 Hospital
Family Holiday Association
Fine Cell Work
Greatwood Charity Ltd
Grove Adventure Playground
Happy Days
Injured Jockeys
International Liberty Associatioin
Racing Welfare
React
Tall Ships
The Royal Ballet School
Whizz Kids
£|2023
£
5,000
-
5,000
5,000
-
5,000
5,000
5,000
5,000
5,000
5,000
5,000
-
5,000
-
5,000
5,000
5,000
-
5,000
10,000
10,000
5,000
100,000
£|2022
£
5,000
5,000
-
-
5,000
5,000
5,000
5,000
-
10,000
-
10,000
5,000
5,000
5,000
5,000
-
-
5,000
5,000
5,000
10,000
5,000|
|---|---|---|
|||100,000|
8
DocuSign Envelope ID: 112C0F23-F077-4B81-907B-67CC0D1E000F
## TaxR eportf or the Period0 6.04.2022- 05.04.2023
Customer The Dalby Charitable Trust Customer No. 709890 Reference Currency GBP
## Positions as at 05.04.2023
||cq|Quantity|Cost Price
ForexC ost|Market Price
Forex Rate|Market Value
Accruals|Weight|
|---|---|---|---|---|---|---|
||||CostV alue|Yield|Estimated||
||||||Income||
|Equities|||||||
|United Kingdom|||||||
|Polar UK Value Opportunities Fund
Shs -S- GBP Distribution|GBP|3,274|12.01|11.08|36,276|4.7%|
|Polar Capital Funds PLC
BD81> a5|||39,305|2.82%|1,022||
|North America|||||||
|Neuberger Berman US Large Cap
Value Fund|GBP|2,000|l0.71|l0.41|20,820|2.7%|
|Shs -14-U nhedged GBP Distribution|||21,412|1.06%|220||
|Neuberger Berman Investment Fds|||||||
|PLC|||||||
|BPPIXD6|||||||
|Japan|||||||
|BlackRockiSharesjapan Equity
Index Fund(UK)|GBP|21.010|0.99|0.94|19,757|2.6%|
|Shs -S- GBP Income|||20,796|2.23%|440||
|BlackRockC ollective Investment Fds|||||||
|BN08ZF4|||||||
|Asia ex.Japan|||||||
|Schroder Asian Income Maximiser
Units Class- S- GBP|GBP|100.000|0.62|o.so|50,180|6.5%|
||||62.275|7.87%|3.951||
|BGCC2X2|||||||
%
DocuSign Envelope ID: 112C0F23-F077-4B81-907B-67CC0D1E000F
00
## Tax Report for the Period 06.04.2022 - 05.04.2023
Customer The Dalby Charitable Trust CustomerN o 709890 Reference Currency GBP
## Positionsa s at 05.04.2023
g 0 'DgZ
|||Ccy|Quantity|Cost Price|Market Price|Market Value|Weight|
|---|---|---|---|---|---|---|---|
|||||Forex Cost|Forex Rate|Accruals||
|||||Cost Valu e|Yield|Estimated||
|||||||Income||
|Equities||||||||
|Global||||||||
|HSBCF TSEA ll-World Index Fund||GBP|30,000|1.91|2.07|62,244|8.1%|
|Shs -S-GBP-Income||||||||
|HSBCIn dexT rackerI nvestmentF unds||||57,388|1.67%|1,038||
|BFOGWX9||||||||
|M&GG lobal DividendF und||GBP|125,614.322|0.99|1.26|158,362|20.9%|
|Shs Class -PP- GBP Unhedged||||||2,166||
|Income||||124,291|3.27%|5.184||
|BK7XXF7||||||||
|Fidelity GlobaIDividend Fund||GBP|119.545.54|0.92|1.02|122.295|15.9%|
|Shs- R-G BP||||||277||
|FidelityI nvestmentF unds||||110,029|2.85%|3,481||
|BKPT8XO||||||||
|Atlas Globallnfrastructure|Fund|GBP|450|113.80|145.65|65.540|8.5%|
|Shs-B-Unhedged GBP||||||||
|ATLASG loballnfrastructureU CITS||||51,209|2.90%|1,897||
|BKTZQP2||||||||
|Ninety One 111G lobal
En vironmentF und||GBP|20,000|1.65|1.62|32.358
239|4.2%|
|Shs -K-GBP||||33,047|0.74%|239||
|Ninety One Funds Series lll||||||||
|BLMI PL3||||||||
|Wellington Global Health Care||GBP|6.193.042|9.13|9.53|59,027||
|EquityF und
Shs- UN(AI)-U nhedgedG BPD is||||56,512||||
|Wellington Mgmt Funds (Ireland) PLC
BN6HHW6||||||||
0
.ba)
0000
.b
l\)
#"
DocuSign Envelope ID: 112C0F23-F077-4B81-907B-67CC0D1E000F
|Tax Report for the Period 06.04.2022 - 05.04.2023|Tax Report for the Period 06.04.2022 - 05.04.2023|
|---|---|
|Customer|The Dalby CharitableT rust|
|Customer No.|709890|
|Reference Currency|GBP|
## Positions as at 05.04.2023
||cw|Quantity|Cost Price
ForexC ost|Market Price
Forex Rate|Market Price
Forex Rate|Market Value
Accruals|Weight|
|---|---|---|---|---|---|---|---|
||||CostV alue||Yield|Estimated||
|||||||Income||
|Equities||||||||
|Global||||||||
|AB GlobalCore Equity Portfolio
Shs- SIN N-|GBP|434|111.74|105.85||45,939|6.0%|
|ABSICAVISICAV|||48,493|||||
|BQ7X683||||||||
|TotaIGlobal|||480.970|||S4S,765|71.3%|
|||||||2,682||
|||||2.17%||11.839||
|Total Equities|||624,758|||672.798|87.9%|
|||||||2.682||
|||||2.60%||17.472||
|Alternatives||||||||
|bVllllllUUILle>||||||||
|L&GM ulti-Strategy Enhanced|GBP|2,531|12.19||l0.98|27.788|3.6%|
|Commodities UCITSE TF||||||||
|Accum Shs GBP|||30.843|||||
|Legal& GeneralU CITSE TFP LC||||||||
|BF5CY81||||||||
|Other||||||||
|SchroderD iversified Alternative|GBP|375|105.4S||97.34|36.503|4.7%|
|Assets||||||||
|Shs- S-G BPD istribution|||39.545|4.35%||1,587||
|SchroderS peciaSl ituationF dS ICAV
RnqRnlA||||||||
##
()
DocuSign Envelope ID: 112C0F23-F077-4B81-907B-67CC0D1E000F
|Tax Report for the Period 06.04.2022|Tax Report for the Period 06.04.2022|05.04.2023|
|---|---|---|
|Customer|The Danby Charitable Trust||
|CustomerN o.|709890||
|Reference Currency|GBP||
## Positions as at 05.04.2023
0 a) 00 (D
g 0 'DgZ 0
||Ccy|Qua ntity|Cost Price
ForexC ost|Market Price
Forex Rate|Market Value
Accruals|Weight|
|---|---|---|---|---|---|---|
||||Cost Valu e|Yield|Estimated||
||||||Income||
|Alternatives|||||||
|Other|||||||
|Hipgnosis Songs Fund Limited|GBP|27,500|1.1 5|0.83|22,743|3.0%|
|ShsO rdinaryG BP|||||361||
|BF-n9H7|||31,535|6.35%|1,444||
|Total Other|||71,080||59.245|7.8%|
||||||361||
|||||5.12%|3,030||
|Total Alternatives|||101.923||87.033|11.4%|
||||||361||
|||||3.48%|3,030||
|Cash|||||||
|sEemIng|||||||
|Investment Account|GBP|5.984.62|||5,985|0.8%|
|Capital|||||||
|AC/709890.01 10|||||||
|TotalCash|||||5,985|0.8%|
|Total Market Value|||||765.815|loo.o%|
|Total Accruals|||||3.043||
|Total Portfolio|||||768,858||
|Total Estimated Income|||||20.502||
|TotaIYield|||||2.68%||
0 0 8 .ba)a) 0 0 .b 00 8
#$
## **Certificate Of Completion**
Envelope Id: 112C0F23F0774B81907B67CC0D1E000F Subject: Complete with DocuSign: 5 April 2023 Accounts.pdf Source Envelope: Document Pages: 14 Signatures: 6 Certificate Pages: 2 Initials: 0 AutoNav: Enabled EnvelopeId Stamping: Enabled Time Zone: (UTC) Dublin, Edinburgh, Lisbon, London
Status: Completed
Envelope Originator: Stacey Lewis Head office 1 New Street Square London, London EC4A 3HQ slewis@deloitte.co.uk IP Address: 81.77.187.228
## **Record Tracking**
Status: Original 11/6/2023 4:12:17 PM
**Signer Events** Lucy Margaretta Hyacinthe Dalby lucydalby@hotmail.com Security Level: Email, Account Authentication (None)
Holder: Stacey Lewis slewis@deloitte.co.uk
**Signature** Signature Adoption: Pre-selected Style Using IP Address: 62.49.120.245 Signed using mobile
Location: DocuSign
## **Timestamp**
Sent: 11/6/2023 4:15:31 PM Viewed: 11/9/2023 12:47:26 PM Signed: 11/9/2023 12:48:28 PM
## **Electronic Record and Signature Disclosure:**
Not Offered via DocuSign
Patrick Dalby pdalby@ukgo.com Trustee Security Level: Email, Account Authentication (None)
Signature Adoption: Pre-selected Style Using IP Address: 86.128.188.113
Sent: 11/6/2023 4:15:32 PM Viewed: 11/6/2023 6:06:30 PM Signed: 11/6/2023 6:06:57 PM
## **Electronic Record and Signature Disclosure:**
Not Offered via DocuSign
Patrick Valerian Smiley Patrick.Smiley@evelyn.com Security Level: Email, Account Authentication (None)
Sent: 11/6/2023 4:15:32 PM Viewed: 11/6/2023 4:44:21 PM Signed: 11/6/2023 5:03:26 PM
Signature Adoption: Pre-selected Style Using IP Address: 5.148.5.42
## **Electronic Record and Signature Disclosure:**
Not Offered via DocuSign
**----- Start of picture text -----**
In Person Signer Events Signature Timestamp
Editor Delivery Events Status Timestamp
Agent Delivery Events Status Timestamp
Intermediary Delivery Events Status Timestamp
Certified Delivery Events Status Timestamp
Carbon Copy Events Status Timestamp
**----- End of picture text -----**
**----- Start of picture text -----**
Carbon Copy Events Status Timestamp
Beth Ralph Sent: 11/6/2023 4:15:32 PM
beralph@deloitte.co.uk
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Not Offered via DocuSign
Witness Events Signature Timestamp
Notary Events Signature Timestamp
Envelope Summary Events Status Timestamps
Envelope Sent Hashed/Encrypted 11/6/2023 4:15:32 PM
Certified Delivered Security Checked 11/6/2023 4:44:21 PM
Signing Complete Security Checked 11/6/2023 5:03:26 PM
Completed Security Checked 11/9/2023 12:48:28 PM
Payment Events Status Timestamps
**----- End of picture text -----**