THE KITCHEN TABLE CHARITIES TRUST ANNUAL REPORT FOR THE YEAR ENDED 30TH JUNE 2021
THE KITCHEN TABLE CHARITIES TRUST TRUSTEE'S REPORT FOR THE YEAR ENDED 30TH JUNE 2021 OBJECTIVES AND ACTIVITIES The Trust has been established to aid small charities struggling to suNive through lack of ability to raise funds themselves. Grants are given to small Gharities, which are supporting the most vulnerable people in some of the poorest parts of the world. Grants are primarily made to charities already known to the trustee. Public Benefit.. The funds are raised for distribution to smaller charities, in countries suffering from poverly and deprivation. that help in providing education and healthcare and the facilities needed for developing sustainable living. In planning the Fund's grant-making Ihe trustee has kept in mind the Charity Commission's guidance on public benefit. ACHIEVEMENTS AND PERFORMANCE The Trust has Gontinued to receive a regular flow of income from its loyal supporters. This continued donor support has enabled the trustee to make awards to 28 {2020.' 27) different organisations. Whilst in many cases the sums involved are relatively small, the awards made have had significant impact on the beneficiary organisations. Covid-19.' Income from investments has fallen as a result of the pandemic, however, with the increase in donations, the trust has been able to maintain its grant-making programme. The majority of developmental projects financed by the trust are in remote, rural, areas where Covid-19 is having a limited impact. However. before approving the payment of grants, the trust takes the precaution of seeking assurances from SUCssful applicants that the pandemic will not prevent their project from starting or being completed successfully. There have undoubtedly been delays and some disruption including diffiGuIty in accessing funds due to the temporary suspension of banking services in some African countries, despite this the trust continues lo re1ve regular project progress reports and is not aware of any projects that have failed to be completed because of Covid-19 restrictions. FINANCIAL REVIEW Income totalling £164,526 (2020: £122,142) was received in the year; of which £155,966 (2020.. £106,151 } is a result of donations and £nil12020.' £5,000) in the fom of legacies and £8,560 (2020: £10,991) investment income. This funded grants of £160,95012020'. £169,101) to charitable organisations. Capital investments were valued at £367,150 (2020.. £321,117) at the year end. Reserves Policy.. The Trust relie5 on a regular inflow of donations to support its grant making activities. Whilst there is no requirement for any funds to be held on a long-term basis the trustee will hold sufficient reserves to ensure sustainability of the grant making programmes. The trustee is managing the reserves to balance the needs of current and future beneficiaries. It is not anticipated that the needs of beneficiaries will diminish over time.
THE KITCHEN TABLE CHARITIES TRUST TRUSTEE'S REPORT FOR THE YEAR ENDED 30TH JUNE 2021 Investment Policy and Powers.. The trustee has the same full and unrestricted powers of investment in all respects as if it were the beneficial owner. The investment strategy is set by the truslee and takes account of recent demands for funds and an assessment of expected future needs (see Reserves Policy). The investment policy and strategy are reviewed with the investment managers at regular inteNals. PLANS FOR THE FUTURE The objectives remain unchanged for the future., the intention is for further grant making to small charities, through continued donor support. STRUCTURE, GOVERNANCE AND MANAGEMENT Administration.. The Trust is adrninistered by Liverpool Charity and Voluntary Services {LCVS), the corporate trustee. LCVS adminislers and records all donations received. All funds are promptly banked and reconciled on a monthly basis in accordance with LCVS, own intemal processes and conlrols. Grant-making Pmcess." Recommendations on grants are taken by John Humphrys on behalf of the settlors with support from Brian Donaldson, a former British Ambassador in East Africa, and William Fulton, who has operated charity in Tanzania for many years. Both have enormous knowledge of the problems facing the world's poorest people, especially children, and vast experien in helping them. On the basis of recommendations reived, the trustee makes awards in accordan with the Charity's objeGtives. Related Parties.. Liverpool Charity and Voluntary SeNices (LCVS} received a donation of £3,450 (2020.. £3,526) as a contribution towards costs incurred in administering the receipt of donations and payments of grants. In addition, the sum of £350 (2020.. £3501 is payable to LCVS in respect of book-keeping and accounts preparation. During the year the Trust made grants totalling £24,000 (2020= £24,000) to the Madagascar Development Fund for which Brian Donaldson is Patron. Its income is also administered by LCVS. Risk Management." The main risks to which the charity is exposed as identified by the trustee have been considered and systems have been established to mitigate those risks. Appointment and Induction of Trustees.. The power of appointing new trustees is vested in the settlors jointly during their lives and in the survivors jointly or the survivors of them during the remainder of their respective lives. The corporate truslee, LCVS, has a trustee reGrurtment policy that maintains a diverse mix of skills and experien that supports the governance and management of the charity. There is a balance beeen representation from 'communities of interest, and individuals wilh business acumen. The induction procedure for new trustees includes distribution of background infomiation, aGcess to all records and
THE KITCHEN TABLE CHARITIES TRUST TRUSTEE'S REPORT FOR THE YEAR ENDED 30TH JUNE 2021 attendance at an organisational induction session. Following this, new trustees formally sign a declaration of willingness to serve. REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY The Kitchen Table Charities Trust, founded by Mr John Humphrys, was established by a Trust Deed dated 9th June 2005 and subsequently registered as a charity, number 1110829, on 11th August 2005. Principal Office." 151 Dale Street, Liverpool L2 2AH Website- www.kitchentablecharities.org Settlors.. The Trust was established by the settlors John D. Humphrys, Catherine J. Adey-Davies and Christopher J. Humphrys. Trustee.. Liverpool Charity and Voluntary servIs (LCVS), a corporate trustees, which is incorporated under the Companies Act as a company limited by guarantee without share capital as company number 181759. a registered charity, number 223485, and a charitable Trust Corporation. LCVS trustees, who are also its Directors, were as follows during the year.. Chairman Heather Akehursl {resigned 25th November 2021) Sonia Bassey MBE (appointed 25th November 2021) Mike Thomas Heather Akehurst (resigned 25th November 2021) Sonia Bassey MBE (appointed 20th May 2021) Dorcas Akeju Duncan Brookes (resigned 14th December 2020} Maxine Ennis (appointed 20th May 2021) Jonathan Hesketh {resigned 16th November 2021) Michael James (resigned 27th April 2021) steven Long {resigned 29th January 2021} Andrew Lovelady {resigned 151 Dernber 2020) Ken Perry John Price Michael Salla Louise Scholes Gemma Shone (appointed 201h September} James Sloan Neil John Sturmey (appointed 20th May 2021) Henry Terefenko (appointed 20th May 2021, resigned 27th July 2022) Mike Thomas Sue Williams (resigned 23rd June 2022) Honorary Treasurer Trustees
THE KITCHEN TABLE CHARITIES TRUST TRUSTEE'S REPORT FOR THE YEAR ENDED 30TH JUNE 2021 Professional Advisers.. Independent Examiner Anna Spencer-Gray RSM UK Tax and Accounting Limited 20 Chapel Street, Liverpool, L3 9AG Investec Wealth & Investment 100 Old Hall Street Liverpool L3 9AB Investment Manager TRUSTEE'S RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The charity trustee is responsible for preparing a trustee's annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting PraGtice). The law applicable to charities in England and Wales requires the charity trustee to prepare financial slalements for each year which give a true and fair view of the state of affairs of the charity and of the incoming reSoUrS and application of reSoUrs, of the charity for that period. In preparing the financial statements, the trustee is required to- select suilable accounting policies and then apply them consistently., observe the methods and principles in the applicable Charities SORP., make judgernents and estimates that are reasonable and prudent., state whether applicable accounting standards have been followed, subject to any material departures thal must be disclosed and explained in the financial statements- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustee is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position oflhe charity and to enable them to ensure that the financial statemenls comply wilh Ihe Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. It is also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. Signed on behalf of the Trustee, Liverpool Charity and Voluntary Services. Mike Thomas LCVS Trustee Dated:
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEE OF THE KITCHEN TABLE CHARITIES TRUST I report to the trustee on my examination of the accounts of The Kitchen Table Charities Trust ('the charity,) for the year to 30th June 2021, which are set out on pages 7 to 14. Responsibilities and basis of report As the trustee of the charity you are responsible for the preparation of the accounts in accordan with the requirements of the Charities Ad 2011 ('the 2011 Act,). I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the appliGable Directions given by the Charity Commission under section 14515)(b) of the 2011 Act. An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, l express no opinion as to whether the accounts present a 'true and fair view, and my report is limited to those specific matters set out in the independenl examiner's statement. Independent examiner's ststement I have completed my examination. I confirm that no material matters have come to my attention in connection with Ihe examination giving me reasonable 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 2011 Act., or 2. the accounts do not accord with those records., or 3. the accounts do not comply with the applicable requirements conmIng 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. Fgm LIK fa% ak7d A6GOLlk7tik7g Limtt6d Name.. Anna Spencer-Gray Name of applicable listed body: The Institute of Chartered Accountants in England and Wales Relevant professional qualification or body.. Chartered Accountant ON BEHALF OF RSM UK TAX AND ACCOUNTING LIMITED Chartered Accountants 20 Chapel Street Liverpool L3 9AG Date-. 11111122
THE KITCHEN TABLE CHARITIES TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30TH JUNE 2021 Year to 30th June 2021 Unrestricted Restricted Funds Funds Total 2020 Notes Income from: Donations & legacies Investments 155,966 8,560 155,966 8,560 111,151 10,991 Total income 164,526 164,526 122,142 Expenditure on: Raising funds Charitable activities 250 169,697 161,618 161.618 Total expenditure 161,618 161,618 169,947 Net incomel(expenditure) I net movement in funds before gainsl(losses) on investments 2,908 2,908 (47,805) Net gainsl(losses) on investment assets Net movement in funds 46,033 46,033 (34,9301 48,941 48,941 (82,735) Total funds brought fOard 391,652 232 391,884 474,619 Total funds carried forward 8-10 440,593 232 440,825 391,884 All of the charitls activities are derived from continuing operations. The notes on pages 9 to 14 fom part of these accounts.
THE KITCHEN TABLE CHARITIES TRUST BALANCE SHEET AT 30YH JUNE 2021 Notes At 30th June 2021 At 30th June 2020 FIXED ASSETS Investmenls {at market value) 367,150 321,117 CURRENT ASSETS Deblors Cash Balance 15.000 59,343 15,000 56,363 74,343 71,363 CURRENT LIABILITIES Creditors (668) (596) Net Current Assets 73,675 70,767 NET ASSETS 440,825 391,884 FUNDS Unrestricted Funds Restricted Funds 8,10 9,10 440,593 232 391,652 232 440,825 391,884 The financial statements on pages 7 to 14 were approved and authorised for issue by the Trustee, Liverpool Charily and Voluntary Services, and signed on its behalf by Mike Thomas LCVS Trustee Dated: I I,, | £1
THE KITCHEN TABLE CHARITIES TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30TH JUNE 2021 Accounting Policies Basis of accounting The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notels} to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102) issued on 16th July 2014; updated 2nd February 2016 and Charities AGt 2011. The accounts have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extenl required to provide a true and fair view. This departure has involved following the Stalemenl of Recommended Practi for charities applying FRS 102 rather than the version of the Statement of Recommended PraGtice which is referred to in the Regulations but which has since been withdrawn. The accounts are prepared in sterling, which is the funGtional currency of the scheme. Monetary amounts in these financial statements are rounded to the nearest £. The scheme has taken advantage of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. Going concern The trustee is aware that the Covid-19 pandemic may redu the amount of income available for distribution of grants, despite this, the trustee has reasonable expectation Ihal the trust will be able to continue its activities for the foreseeable future. Thus the going concern basis of accounling in preparing the annual financial statements has been used. Fund accounting Unrestricled funds are public donations and investment income and are available for use at the discretion of the trustee, in aGcordance with the charity's objectives. RestriGled funds are subject to specific restrictive conditions imposed by the donor or grant making body. All restricted funds are accounted for as restricted income and expendilure for the purposes is charged to the fund. (See detail in note 9). Investments In accordance with Statement of ReGommended Practi.. Accounting and Reporting by Charities {20151, investments held as fixed assets are stated at markel value. Realised and unrealised gains and losses are dealt with as movements on the Capital Fund. Investments are valued at the mid-market price on the valuation date. Income recognition Donations are recognised upon receipt by the organisation. Gift Aid recovery is recognised when received. Legacies are accounted for upon receipt or where the receipt of the legaGy is virtually certain and the value is known, this will be once confirmation has been received from the representatives of the estate thal payment of the legacy will be made or property transferred and once all conditions attached to the legacy are fulfilled. Investment income comprises fixed asset investment distributions and interest received and is recognised when credited to the Trust account. Investment income is stated on an accruals basis.
THE KITCHEN TABLE CHARITIES TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30TH JUNE 2021 Accounting policies continued...... Expenditure recognition Raising funds refer to charges from the bank for administering credit card donations and foreign currency. Charitable activities includes grant funding, along with associaled support costs, to charitable organisations. These are dealt with in the Statement of Financial Activities when payment has been agreed. Recommendations on grants are made by John Humphrys, Brian Donaldson and William Fulton. Governan costs relate to Gompliance with constitutional and statutory requiremenls and specifically include all costs incurred by the Trust in producing the Annual Repori and the audit fee. Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the Charity to the expenditure. Cash and cash equivalents Cash and cash equivalents include Gash in hand, deposits held at call with banks, other short- term liquid investments with original malurities of three months or less, and bank overdrafts. Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of ils financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes paty 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. Basic finan¢ial assets Basic financial assets. which include debtors and cash and bank balances, are initially measured at Iransaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement conslilutes a financing transaction, where the Iransaclion is measured at the present value of the future receipts discounted at a market rate of interesl. Financial assets classified as receivable within one year are not amortised. Basic financlal liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaGtion price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised Gost, using the effective interesl rate method. Taxation The charity benefits from various exemptions from taxation afforded by tax legislation and is not liable lo corporation tax on income or gains falling within those exemptions. Partial recovery is made of tax credits on UK dividend income. The charity is not able to recover Value Added Tax. Expenditure is recorded in the accounts inclusive of VAT. 10
THE KITCHEN TABLE CHARITIES TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30TH JUNE 2021 Income from: Donations and legacies Unrestricted Restricted Funds Funds Total 2021 2020 Donalions Legacies 155,966 155,966 106,151 5,000 155,966 155,966 111,151 All income is unrestricted (2020.. all income unrestricted). Expenditure on: Charitsble activities 2021 2020 Direct charitable expenditure.. Grant funding 160,950 169,101 160,950 169,101 Support & govemance." Accounts preparation - LCVS Examination fee 350 318 350 246 668 596 161,618 169,697 During the year the following grants were made.. 2021 Grants of £1,000 and over: Abilities Women Foundation Uganda Action for Change Arise & Impact Christian Self Improvement Chibengele Multipurpose Cooper Community Initiave Partners Equal Aqua Friends of Sick Children in Malawi Gunar Project Associalion Hope for Nature Just Wheels Kabrono Presbyterian Primary School Kojie Presbyterian Primary School LCVS Liesli Initiative 6,000 6,000 6,000 6,500 6,000 3,500 6.000 4,600 4,500 4,000 6,000 4,500 3,450 5,000 72,050
THE KITCHEN TABLE CHARITIES TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30TH JUNE 2021 Charitable activities continued.... Grants continued..... Madagascar Development Fund Make a Difference Schools Mombasa Midwives at Maternily Azur Mtende Community Project Namubi Tubana Ndozie Integrated Development Niokolo Network Oyugis Integraled Development Pamo Volunteers Pamodzi Rainbow Network Pearl Community Empowerment Foundation Rural Development and Care Tools for Self Reliance Cymru Women Without Poverty 72,050 24,000 5,000 5,500 6,000 2,000 5,000 3,000 5,000 5,600 5,000 6,200 5,600 5,000 6,000 160,950 During the year a £3.450 (2020: £3,526) donation was made to the corporate trustee, Liverpool Charity and Voluntary Services. In 2021, all expenditure was unrestricted (2020.. unrestricted). staff Costs and Numbers The charity does not have any employees (2020.. 0) The Corporate Trustee, Liverpool Charity and Voluntary Services (LCVSI was not remunerated for its services as Trustee. LCVS did however receive payment in the year for costs of administering the receipt of income and payment of grants as well as book-keeping and accounts preparation. See note 11 for further information. Fixed Asset Investments 2021 2020 Quoted Investments: Market value at 1 sl July 2020 Withdrawn Unrealised gainsl{losses) on investment assets Realised gains on disposal 321,117 406,047 (50,000) (38,998) 4,068 46,033 Market Value at 30th June 2021 367,150 321,117 Book Value at 30th June 2021 269,894 269,894 12
THE KITCHEN TABLE CHARITIES TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30TH JUNE 2021 The trust holds 100% of ils fixed asset investments in a Charity Commission approved pooling scheme, the Settlors, Trust Fund {STF), administered by Liverpool Charity and Voluntary servIs and managed by Rathbone Investment Management Ltd. At 30th June 2021. the assets of the STF fund had a total market value of £33,037,531 (2020.. ££28,526,494) of which £367.150 (2020.. £321,117} is an asset of the trust. All investments are held for charitable purposes. Debtors 2021 2020 Accrued Income £15,000 £15,000 Creditors 2021 2020 Accruals £668 £596 Unrestricted Funds Investment income and donations reiVed for distribution as grants to charitable voluntary organisations. Restricted Funds Opening Incoming Resources Balance Resources Expended Closing Balance Comprehensive Community Based Rehabilitation in Tanzania (CCBRT) The Mango Tree Orphan Support Programme 144 144 88 88 £232 £(-> £232 Comprehensive Community Based Rehabilitation in Tanzania (CCBRTI - donations received in support of rehabilitation of patients with disabilities andlor HIVIAIDS. The Mango Tree Orphan Support Programme- income received lo provide relief and long term development for the orphans of Tanzania in a cost effiGient mar)ner- by focusing on the needs of each child and providing them with the skills to create a sustainable future. 13
THE KITCHEN TABLE CHARITIES TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30TH JUNE 2021 10. Analysis of Net Assets between Funds Fixed Asset Investments Net Current Assets Totsl Unrestricted Funds 367,150 73,443 440,593 367,150 73,443 440,593 Restricted Funds: CCBRT The Mango Tree Orphan Support Programme 144 88 144 88 232 232 367,150 73,675 440,825 Related Party Transactions As detailed in note 3, Liverpool Charity and Voluntary Services (LCVS) received a donalion of £3,450 (2020.. £3,526) as a contribution towards costs incurred in administering the receipt of donations and payments of grants. In addition, the sum of £350 (2020.. £350} is payable to LCVS in respect of book-keeping and accounts preparation. LCVS is related to the Trust by virtue of being the corporate trustee. During the year the Trust made grants totalling £24,000 (2020.. £24,000) to the Madagascar Development Fund forwhich Brian Donaldson is Patron. Its income is also administered by LCVS. No trustee received remuneration or expenses as part of their role as Trustee of the charity. 14