**Charity number: 1113185**
## **Robert Armitage Charitable Trust**
**Report of the Trustees and Unaudited Financial Statements**
**For the year ended 31 July 2022**
**Robert Armitage Charitable Trust Contents Page For the year ended 31 July 2022**
|Report of the Trustees|1 to 2|
|---|---|
|Independent Examiner's Report to the Trustees|3|
|Statement of Financial Activities|4|
|Statement of Financial Position|5|
|Notes to the Financial Statements|6 to 10|
## **Robert Armitage Charitable Trust Report of the Trustees For the year ended 31 July 2022**
The Trustees have pleasure in presenting their report and the financial statements for the charity for the year ended 31 July 2022. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The Objects of the Trust are:
(a) to make grants and provide assistance to registered or exempt charities, whether located or working within the Greater Manchester area, nationally or internationally;
(b) to further such charitable purposes, both locally to the Greater Manchester area, nationally and internationally as the trustees shall in their absolute discretion decide.
The trustees have considered the Charity Commission’s guidance on public benefit, including the guidance 'public benefit : running a charity (PB2)' and they believe that the support provided to the Robert Armitage Charitable Trust allows the charities objectives to benefit a wide section of the public.
## **ACHIEVEMENTS AND PERFORMANCE**
The three Students’ Union Charities continued to support student volunteering and community work across the city. No grant funding was sought in year to support this work. 2021/22 saw a full return of students to the city, and the focus of the year was restoring volunteer strength following the pandemic. Volunteering and community activity included:
- UOM Students logged over 4000 volunteer hours across 34 student led volunteering projects.
- 360 new students registered on The Union MMU volunteering portal and logged over 8000 hours of volunteering for local community organisations.
- The Union MMU piloted two new volunteer projects to support children and young people in the city. 35 volunteers led the Play Day and the Schools Project pilot which supported over 90 local children.
- The Union MMU was recredited with the Investors in Volunteering Standard
- UoM’s ‘Student Angel’ pilot was continued in year to support vulnerable students in the nighttime economy. Manchester City Council have already confirmed funding for future years.
The five Students’ Unions across greater Manchester City Region have embedded the new Greater Manchester Student Assembly in the city region. The GM Mayor has been supportive of the scheme and will be hosting a number of 'meet the mayor' events next year. The trustees of the RACT are in discussion about how to support the development of the student assembly, including possible support for provision of career staff and project funding for students initiatives in the city.
## **FINANCIAL REVIEW**
The trust has powers to set aside funds for special purposes or as reserves against future expenditure. The trustees have not identified any material future expenditure beyond grant giving, and have therefore not set a specific reserves policy. The trustees have expressed a wish to ensure sustainability of the trust through ensuring activity is funded where possible through investment income generated from the principal sum.
## **Reserves**
The Trust aims to retain a reserve equal to at least 75% of the legacy in order to retain sufficient funds to generate an investment return to finance the charitable activities.
The Trust has elected to pursue a low-risk investment policy by placing the legacy in the best available investment account with a high street bank, and using the interest generated to finance its charitable activities.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity was established and governed by a Declaration of Trust.
## **Recruitment and appointment of trustees**
Trustees are co-opted as set out in the Declaration of Trust.
The Trust is governed by a Board of Trustees and supported by such professional advisors as the Trustees consider necessary to support the operation of the Trust.
The Trustees undertake an on-going assessment of significant risks to which Robert Armitage Charitable Trust is exposed. Such risks may be of a financial or non-financial nature. The risk assessment process identifies existing strategies in place to minimise those risks, together with further action that needs to be taken.
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**Robert Armitage Charitable Trust Report of the Trustees Continued For the year ended 31 July 2022**
## **REFERENCE AND ADMINISTRATIVE INFORMATION**
**Name of Charity** Robert Armitage Charitable Trust **Charity registration number** 1113185 **Principal address** The Union, Manchester Metropolitan University 21 Higher Cambridge Street Manchester M15 6AD
## **Trustees**
The trustees and officers serving during the year and since the year end were as follows:
Matthew Robinson Ben Ward Ed Maloney
## **lndependent examiners**
> **lndependent examiners** Counterculture Partnership LLP Unit 115 Ducie House, Ducie Street, Manchester, M1 2JW
> **Bankers** Barclays Bank plc Leicester LE87 2BB
> **Solicitors** JMW Solicitors LLP 1 Byrom Place Manchester M3 3HG
Approved by the Board of Trustees and signed on its behalf by
............................................................................. Matthew Robinson
25 May 2023
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## **Robert Armitage Charitable Trust Independent Examiners Report to the Trustees For the year ended 31 July 2022**
I report to the trustees on my examination of the accounts of the charity for the year ended 31 July 2022.
## **Responsibilities and basis of report**
As the charity trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 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 applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiners statement**
I have completed my examination. I confirm that no 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 2011 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning 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.
Counterculture Partnership LLP
Unit 115 Ducie House
Ducie Street Manchester M1 2JW
Date: 25 May 2023
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## **Robert Armitage Charitable Trust Statement of Financial Activities For the year ended 31 July 2022**
|**Notes**
**Income and endowments from:**
Investments and other income
**Total**
2
**Expenditure on:**
Raising funds
Charitable activities
**Total**
3
4
**Net income/(expenditure)**
Net gains/(loss) on investments
**Net movement in funds**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**2022**
**Unrestricted**
**£**
36,059
**36,059**
(7,677)
(1,846)
**(9,523)**
**26,536**
**13,705**
1,850,958
**1,837,253**
(40,241)|34,646
**2021**
**Unrestricted**
**£**|
|---|---|---|
|||**34,646**|
|||(8,148)
(1,817)|
|||**(9,965)**|
|||**24,681**
105,420|
|||**130,101**|
|||1,720,857|
|||**1,850,958**|
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above.
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## **Robert Armitage Charitable Trust Statement of Financial Position As at 31 July 2022**
|**Notes**
**Fixed assets**
Investments
8/9
**Current assets**
Debtors
Cash at bank and in hand
10
11
**Creditors: amounts falling due within one year**
**Net current assets**
**Total assets less current liabilities**
**Net assets**
**The funds of the charity**
Unrestricted income funds
Revaluation reserve
**Total funds**
12|**2022**
**£**
1,585,395
**1,585,395**
6,810
297,068
**303,878**
(52,020)
**251,858**
**1,837,253**
**1,837,253**
1,626,845
210,408
**1,837,253**|**2021**
**£**
1,604,096|
|---|---|---|
|||**1,604,096**|
|||-
297,082|
|||**297,082**|
|||(50,220)
**246,862**|
|||**1,850,958**|
|||**1,850,958**|
|||1,598,416
252,542|
|||**1,850,958**|
The financial statements were approved and authorised for issue by the Board and signed on its behalf by:
Matthew Robinson Trustee
: 25 May 2023
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**Robert Armitage Charitable Trust Notes to the Financial Statements For the year ended 31 July 2022**
## **1. Accounting Policies**
## **Basis of accounting**
The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011.
Robert Armitage Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
## **Going concern**
The financial statements are prepared on a going concern basis, under the historical cost convention.
## **Incoming resources**
All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy. Dividends are included by reference to their due dates. Interest is recorded when receivable .
## **Resources expended**
Liabilities are recognised as resources expended when there is a legal or constructive obligation committing the Charity to the expenditure:
Costs of generating funds represent amounts paid to the Trust’s external investment advisors.
Charitable activities expenditure comprises grants awarded by the Trustees in accordance with the criteria set out in the Trust Deed, together with grant related support costs.
## **Investments**
Net realised and unrealised gains and losses are reflected in the Statement of Financial Activities.
Investments are shown at market value.
## **Cash and cash equivalents**
Cash and cash equivalents include cash at bank and in hand, and short term deposits.
## **Irrecoverable VAT**
Irrecoverable VAT is included in the Statement of Financial Activities and is reported as part of the expenditure to which it relates.
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## **Robert Armitage Charitable Trust Notes to the Financial Statements Continued For the year ended 31 July 2022**
## **2. Investment income**
**Unrestricted funds** Income from listed investments Bank interest receivable
|**2022**
**£**
36,027
32
**36,059**|**2021**
**£**
34,202
444|
|---|---|
||**34,646**|
## **3. Investment management costs**
|**Unrestricted funds**
Investment management fees
**osts of charitable activities by fund type**
**Unrestricted funds**
**Grants Payable**
Grant funded cost
**Support costs**
**Governance costs**
Accountancy fees
Other finance costs
**nalysis of support costs**
Governance costs|**2022**
**£**
7,677
**7,677**
**2022**
**£**
-
**-**
1,800
46
**1,846**
**1,846**
**2022**
**£**
1,800|**2021**
**£**
8,148|
|---|---|---|
|||**8,148**|
|||**2021**
**£**
-|
|||**-**
1,800
17|
|||**1,817**|
|||**1,817**|
|||**2021**
**£**
1,800|
## **4. Costs of charitable activities by fund type**
## **5. Analysis of support costs**
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## **Robert Armitage Charitable Trust Notes to the Financial Statements Continued For the year ended 31 July 2022**
## **6. Net income/(expenditure) for the year**
This is stated after charging/(crediting):
|This is stated after charging/(crediting):|||
|---|---|---|
||**2022**|**2021**|
||**£**|**£**|
|Accountancy fees|1,800|1,800|
|(Gain)/Loss on disposal of fixed asset investments|(1,112)|(13,509)|
## **7. Comparative for the Statement of Financial Activities**
The comparative year values on the Statement of Financial Activities are for unrestricted funds.
## **Investments**
## **8. Analysis of movement of commercial investments**
|Market value at
1 August 2021
Additions to
investment at cost
Disposals at carrying
value
Net gain/(loss) on
revaluation
Market value at
31 July 2022
**nalysis of investments between funds as at year end**
**Unrestricted funds**
Listed investments
Cash held as part of the
investment portfolio|**Listed**
**investments**
**£**
1,508,248
120,716
(125,877)
(41,353)
**1,461,734**|**Cash as part**
**of portfolio**
**£**
95,848
27,813
-
-
**123,661**
**2022**
**£**
1,461,734
123,661
**1,585,395**|**Total**
**£**
1,604,096
148,529
(125,877)
(41,353)|
|---|---|---|---|
||||**1,585,395**|
||||**2021**
**£**
1,508,248
95,848|
||||**1,604,096**|
## **9. Analysis of investments between funds as at year end**
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**Robert Armitage Charitable Trust Notes to the Financial Statements Continued For the year ended 31 July 2022**
## **10. Debtors**
|**Amounts due within one year:**
Prepayments and accrued income
**Creditors: amounts falling due within one year**
Accruals and deferred income|**2022**
**£**
7,677
**7,677**
**2022**
**£**
52,020
**52,020**|**2021**
**£**
-|
|---|---|---|
|||**-**|
|||**2021**
**£**
50,220|
|||**50,220**|
## **11. Creditors: amounts falling due within one year**
## **12. Movement in funds**
## **Unrestricted Funds**
|**Unrestricted Funds**||||||
|---|---|---|---|---|---|
||**Balance at**|**Incoming**|**Outgoing**|**Gains and**|**Balance at**|
||**01/08/2021**|**resources**|**resources**|**(losses)**|**31/07/2022**|
||**£**|**£**|**£**|**£**|**£**|
|_General_||||||
|Unrestricted revenue|1,850,958|36,059|(9,523)|(40,241)|1,837,253|
|accumulated funds||||||
||**1,850,958**|**36,059**|**(9,523)**|**(40,241)**|**1,837,253**|
|**Unrestricted Funds · Previous year**||||||
||**Balance at**|**Incoming**|**Outgoing**|**Gains and**|**Balance at**|
||**01/08/2020**|**resources**|**resources**|**losses**|**31/07/2020**|
||**£**|**£**|**£**|**£**|**£**|
|_General_||||||
|Unrestricted revenue|1,720,857|34,646|(9,965)|105,420|1,850,958|
|accumulated funds||||||
||**1,720,857**|**34,646**|**(9,965)**|**105,420**|**1,850,958**|
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## **Robert Armitage Charitable Trust Notes to the Financial Statements Continued For the year ended 31 July 2022**
## **13. Analysis of net assets between funds**
|**Unrestricted funds**
_General_
Unrestricted revenue
accumulated funds
**Previous year**
**Unrestricted funds**
_General_
Unrestricted revenue
accumulated funds|**Investments**
**Net currentNet Assets**
**assets /**
**(liabilities)**
**£**
**£**
**£**
1,585,395
251,858
1,837,253|
|---|---|
||**1,585,395**
251,858
**1,837,253**|
||**Investments**
**Net current**
**assets /**
**(liabilities)**
**£**
**Net Assets**
**£**
**£**
1,604,096
246,862
1,850,958|
||**1,604,096**
**246,862**
**1,850,958**|
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