Charity No: 1111274
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
FOR
WILLIAM RECORD CHARITABLE TRUST
WILLIAM RECORD CHARITABLE TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
| Page | |
|---|---|
| Trustees’ Annual Report | 1 |
| Independent Examiner’s Report | 2 |
| Receipts and Payments Account | 3 |
| Statement of Assets and Liabilities | 4 |
| Notes to the Financial Statements | 5 |
WILLIAM RECORD CHARITABLE TRUST
TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees present their report with the financial statements of the Charity for the year ended 31 December 2022.
| REGISTERED CHARITY NO: | 1111274 |
|---|---|
| TRUSTEES: | A Record MBE W J Record |
| Dr C A Record R Record |
|
| ADDRESS: | Quest House |
| St Mellons Business Park, Fortran Road | |
| St Mellons | |
| CARDIFF | |
| CF3 0EY | |
| INDEPENDENT EXAMINER: | J D Sheather FCA |
| McCabe Ford Williams | |
| Charlton House | |
| Dour Street | |
| DOVER | |
| Kent, CT16 1BL | |
| GOVERNING DOCUMENT: | The Charity was registered on 13 September 2005 and is governed |
| by a declaration of trust dated 1 March 2005 as amended by a | |
| supplemental deed dated 1 September 2005. | |
| APPOINTMENT OF TRUSTEES: | Trustees have been appointed on the basis of the relevant expertise |
| that they can bring to the board. | |
| ORGANISATION: | The board of trustees administers the charity. |
| OBJECTS: | The trustees shall hold the capital and income of the trust fund |
| upon trust for or towards such charitable purposes, and to make | |
| donations to such charitable institution or institutions, at such time | |
| or times and in such manner as the founder may from time to time | |
| by a like notice direct. | |
| ACTIVITIES: | The trust made charitable donations in the year and continues to |
| seek opportunities to make appropriate donations. | |
| RESERVES POLICY: | The charity keeps a level of cash reserves sufficient to cover all |
| expected eventualities, at 31 December 2022 this was £18,042 | |
| (2021-£955). |
Signed on behalf of the Trustees by:
W J Record - Trustee
18 March 2025
Page 1
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF WILLIAM RECORD CHARITABLE TRUST
I report to the charity trustees on my examination of the financial statements of the William Record Charitable Trust (the Trust) for the year ended 31 December 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's financial statements carried out under section 145 of the 2011 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 2011 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 2. the financial statements 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 financial statements to be reached.
J D Sheather FCA Chartered Accountant McCabe Ford Williams Charlton House Dour Street DOVER Kent CT16 1BL
18 March 2025
Page 2
WILLIAM RECORD CHARITABLE TRUST
RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022
| 2022 | 2021 | |||
|---|---|---|---|---|
| Unrestricted funds | Unrestricted funds | |||
| £ | £ |
£ | £ |
|
| Receipts | ||||
| Donations | - | 550 | ||
| Investment income | 27,085 | - | ||
| Payments | ||||
| Donations | 9,938 | - | ||
| Bank charges and interest | 60 | 80 | ||
| ──── | 9,998 |
──── | 80 |
|
| ──── | ──── | |||
| EXCESS OF RECEIPTS | ||||
| OVER PAYMENTS | 17,087 | 470 | ||
| BANK BALANCE | ||||
| BROUGHT FORWARD | 955 | 485 | ||
| ──── | ──── | |||
| BANK BALANCE | ||||
| CARRIED FORWARD | 18,042 | 955 | ||
| ════ | ════ |
Page 3
WILLIAM RECORD CHARITABLE TRUST
STATEMENT OF ASSETS AND LIABILITIES AS AT 31 DECEMBER 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Fixed asset investments | ||
| Shares in unquoted company | 1,000,000 | 1,000,000 |
| Bank and cash funds | ||
| Cash at bank | 18,042 | 955 |
| Receivables | - | 15,085 |
| ────── | ────── | |
| Total assets | 1,018,042 | 1,016,040 |
| ══════ | ══════ | |
| Liabilities | ||
| Accruals | 1,044 | 698 |
| ════ | ════ |
We acknowledge our responsibility for the financial statements, including the appropriateness of the accounting basis and for providing all information and explanations necessary for their compilation.
The financial statements were approved by the Trustees on 18 March 2025
W J Record - Trustee
WILLIAM RECORD CHARITABLE TRUST
Page 4
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1. ACCOUNTING POLICIES
Basis of Preparation
The financial statements of the charity, which is a public benefit entity, have been prepared in accordance with the Charities Act 2011 on a Receipts and Payments basis.
The financial statements are presented in sterling which is the functional currency of the charity.
Fixed asset investment
Fixed asset investment is stated at the trustees’ valuation.
Fund Accounting
Income which can only be used for restricted purposes, and its related expenditure, is accounted for as restricted funds. All other income and expenditure is accounted for as general funds.
Taxation
No provision is made in the financial statements for taxation as the Trustees are of the opinion that all of the Trust's activities are of a charitable nature and therefore outside the scope of taxation.
2. RELATED PARTY TRANSACTIONS
The fixed asset investment represents a holding of unquoted shares in WCR Group Limited, a company controlled by W J Record.
- Neither the Trustees, nor any persons connected with them, have received any remuneration or expenses during the year.
Page 5