VYbJsk9un*urnTransorbc Ref. WHMF-PCMW4LVQ 23 Jan 20¥J 14..37..39 GMT{Lrrc +010 111 P 1117 Charity number: 1115070 THE ANNE BANKS WILL TRUST UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022
VYbJsk9un*urnTransorbc Ref. WHMF-PCMW4LVQ 23 Jan 20¥J 14..37..40 GMT{Lrrc +010 111 P 2117 THE ANNE BANKS WILL TRUST CONTENTS Page Reference and administrative details of the Charity. its Trustees and advisers Trustees. report Independent examinerfs report Statement of financial activities Balance sheet Notes to the financial statements 8-15
VYbJsk9un*urnTransorbc Ref. WHMF-PCMW4LVQ 23 Jan 20¥J 14..37..41 GMT{Lrrc +010 111 P 3117 THE ANNE BANKS WILL TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2022 The chariws goveming document is the will of Mrs Anne Banks dated 18 June 1990 as amended by Codi1$ dated 27 Juty 1990, 21 September 199), 25 January 1991, 10 Juty 1992 and 17 June 1994. Mrs Banks died on 16 February 1998. Trustees lain Davis Jane Maitland Charity registered number 1115070 Principal office 5700 Oxford Business Park South Oxford OX4 2RW Accountants James Cowper Kreston Chartered Accountants Reading Bridge House George Street Reading RG1 8LS Bankers Handelsbanken Seacourt Tower 7th Floor West Way Botley Oxford OX2 OJJ Solicitors Freelhs 5700 Oxford Business Park South Oxford OX4 2RW Investmenl managers Rathbone Brothers PLC 1 Curzon Street London WIJ 5FB Page 1
VYbJsk9unurnTransorbc Ref. WHMF-PCMW4LVQ 23 Jan 20¥J 14..37..41 GMT{Lrrc +010 111 P 4117 THE ANNE BANKS WILL TRUST TRUSTEES. REPORT FOR THE YEAR ENDED S APRIL 2022 The Trustees present their annual report together wth the financial statements of the Charity for the year 6 April 2021 to 5 April 2022. Objectives and activities . Policies and objectives The charty is a Permanent Endowment Charitable Trust, under which the income arisirtg is lo be paid out to the Dogs Trust (formerly the National Canine Defence League). the Royal Society for the ProteclK¢n of Birds and the Royal Society for the Prevention of Cruelty to Animals in equal shares. The income is to be applied exclusively for their respective charitable PLErposes. If any of these chari"es cease to exist then the income shall be divided bebween the remaining charities_ If none remain, then the Trustees have discretion to pay the income to any charities benefitting the welfare, care. conservation or protection of animals and l or birds. In setting objectives and planning for activities. the Trustees have given due consideration to general guidance published by the Charty Commission relating to public benefit, induding the guidance 'Public benefit.. running a charity IPB2)'. Achievernents and performance . Main achievements of the Charity The Trustees continue to keep under review the application of income in accordance Vth the objects of the Charity and have distributed all available income arising on an annual basis, by agreement the ¢haritie$ named above. The balan on the Restricted Income Fund as at S April 2021 of £131,893 was distributed equalty been the named charities during the year ended 5 April 2022. Financial review a. OvoTVieW The attached financial statements show the current stale of the finances of the Trust. The movements in investments are shown in note 10. Ints)me from investments for the year amounted to £52.205 {2021.- £48.6281 a5 detailed in note 3. Renta income for the year amounted to £14.50012021.- £14.5001. The increase in value of the investment portfolio at the year end was in line wth the general recovery in the markets followng the significant drop in the premous year as a result of the Covid-19 pandemic. The Trustees continue to closely monitor the value of its investments and the level of investment inccffie b. Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources lo continue in operational existence for the foreseeable future. For this reason, they continue lo adopt the going concern basis in preparing the financial statements. c. Reserves policy The Tru5tee5 distribute all available inwme arising on an annual basis. after the deduction of expenses and reserves. by agreement wth the three above named charities. Page 2
VYbJsk9unurnTransorbc Ref. WHMF-PCMW4LVQ 23 Jan 20¥J 14..37..42 GMT{Lrrc +010 111 P &17 THE ANNE BANKS WILL TRUST TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 5 APRIL 2022 d. Investment policy The Charitys invesknent stralegy is to maintain the permanent endowment in real temis while maximising the income generated. A Brokers Policy Statement is in place, and this is reviewed on an annual basis. e. Risk management The Trustees have reviewed the risks faced by the Charity and have implemented systems to mitigate these risks. In particular, the Trustees consider that the major risk faced by the charity is the fluclualion in the value of. and the income generated by its investments. The Trustees have mitigated this risk by followng the advice of a leading investrnenl manager and monitoring the pèrfomianee of the investments on an ongoing basis. The TTU5tees also take advice from 5Uitably qualffied prolessionals in respect of the trust property. which is 5ubj.ect to a commercial let. Structure> govemance and management a. Constitution The Anne Banks Will Trust is a registered charity. number 1115070. and is constituted under a Will. The Trustees meet annually to formally discuss and agree the Annual Accounts. lo detemiine Ihe amount of income lo be distributed to the recipient charities, and to revlew the trust assets, in order to assess the level of income, capital growth and risk that the charity faces. The Trustees are assisted in their administrative duties by a legal clerk who is an associate at the firm of Freeths. b. Methods of appointment or eloction of Trustees The rnanagement of the Charity is the responsibility of the Trustee5 who are elected and Clpted under the terms of the Will. Policies adopted for the induction and training of Trustees The Trustees are jointly responsible for the Inductic of any new trustee. The induction includes awareness of the Iruslee's responsibilities, cOnderatIon of the goveming document, administrative prcedures, the history and philosophy of the charity. Page 3
VkiuaBunatLnTrarffjxlvM Ref. WHMF+CMW4LVQ 23 Jan 20YJ 14..37..43 GMT{UTC +0) 0 111 P 6117 THE ANNE BANKS WILL TRUST TRUSTEES. REPORT {CONTINUED FOR THE YEAR ENDED 5 APRIL 2022 ststement of Trustees. responsibilities The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance wtth applicable law and United Kingdom Accounting Stsndards (United Kingdom Genefally Accepted Accounting Practice}. The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources. including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required lo= select suitable accounting policies and then apply them consistently,. observe the methods and principle5 of the Charitie5 SORP {FRS 1021.. make judgments and accounting estimates that are reasonable and prudent" state whether applicable UK Accounting Standards {FRS 1021 have been followed, subject to any material departures disclosed and explained in the financial ststements.. prepare the financial statements on the Ing concern basis unless it is inappropriate to presume that the Charty wll continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Chantys transactions and disclose wth reasonable accuracy at any time the financial posth.on of the Charty and enable them lo ensure that the financial statements comply wth the Charities Act 2011, the Charty (Accounts and Reports) Regulations 2008 and the provisions of the Will. They are also resp)nsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by.. lain Davis Jane Maitland Dale= 23 January 2023 19 January 2023 Page 4
VYbJsk9un*urnTransorbc Ref. WHMF-PCMW4LVQ 23 Jan 20¥J 14..37..44 GMT{Lrrc +010 111 P 7117 THE ANNE BANKS WILL TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED S APRIL 2022 Independent Exarninevs Report to the Trustees of The Anne Banks Will Trust (Ihe Charity'l I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 5 April 2022. Responsibilities and Basis of Report As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the uirements of the Charities Act 2011 1.the 2011 ACY). I report in respect of my examination of the Charitys accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under secb.on 14515llbl of the 2011 Act. Indepondeni Examinorfs Statement Your attention is drawn to the fact that the Charity has Prepared the acciwnts in accordance Mqth Accounting and Reporting by Charities.. Statemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) in preference lo the Accounting and Reporting by Charf(ies= Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations bul has been wthdrawn. l understand that this has been done in order foT the accounts to provide a twe and fair Mew in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confimi that no matters have come to my attention in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act.. or the accounts do not ateord wsth those records" or the accounts do not comply wth the applicable requirements conceming the form and content of accounts sel OLrt 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 concerns and have come across no other matters in connection qth the examination to thich attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. This rewrt is made solely to the Charws Trustees, as a body. in accordance with Part 4 of the Charities {Accounts and RekY)rts) Regulations 2008. My work has been undertaken so that I might state to the Charitys TTU5tees those matter5 1 am required to state to them in an Independent examinerfs rewjrt and for no other purpose. To the fullest extent pemiitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charitys Trustee5 as a body, for my Nork or for this report. Signed= Dated.. 23 January 2023 Darren O'connor Bsc (Honsl FCCA ACA (Senior Statutory Auditor) James Cowper Kreston Audit Chartered Acccyjntants Reading Bridge House George Street Reading RG18LS Page 5
VYbJsk9un*urnTransorbc Ref. WHMF-PCMW4LVQ 23 Jan 20¥J 14..37..45 GMT{Lrrc +010 111 P 8117 THE ANNE BANKS WILL TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED S APRIL 2022 Restricted Endowment funds funds 2022 2022 Total funds 2022 Total funds 2021 Note Income and endowmènis from: Investrments 6T,760 67.760 65.104 Total income and endowments 67,760 67.760 65,104 Expenditure on: Raising funds Charitable actimties 21.731 21.731 137.589 19.891 5.332 13T.589 Total expenditure 137,589 21,731 159,320 25,223 Not {oxp8nditurellincomo bofore net gains on investmenis Nel gains on investments 169.8291 (21.731) 116.992 191,560) 116.992 39,881 265,875 Net movement in funds 169,8291 95,261 25,432 305, 756 Reconciliation of funds: Total funds brought forward Nel movement in funds 131,893 169,8291 2,253,526 95,261 2,385,419 25,432 2,079,663 305. 756 Total funds carried forniard 62,064 2,348.787 2,410,851 2,385.419 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 8 to 15 fomi part of these financial statements. Page 6
VkiuaBunatLnTrarffjxlvM Ref. WHMF+CMW4LVQ 23 Jan 20YJ 14..37..46 GMT{UTC +0) 0 111 P 9117 THE ANNE BANKS WILL TRUST 8ALANCE SHEEr AS AT 5 APRIL 2022 2022 2021 Note Fixed assets Investments 10 2.208.710 136.600 2. 124.492 136,600 Investment property 2.345.310 2.261.092 Current assets Debtors Cash at bank and in hand 11 14,664 57.871 t9.582 114.958 72.535 134,540 Creditors- amounts falling due thin one year 12 16.9941 (tO.213) Not currant assets 65.541 124.327 Total net assets 2.410.851 2.385.419 Charity funds Endowment funds 13 2.348,787 62.064 2,253,526 131.893 Restricted fund5 13 Total funds 2.410.851 2,385.419 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. lain Davis Jane Maitland Date= 23 January 2023 19 January 2023 The notes on pages 8 to 15 fomi part of these financial statements. Page 7
VYbJsk9un*urnTransorbc Ref. WHMF-PCMW4LVQ 23 Jan 20¥J 14..37..46 GMT{Lrrc +010 111 P 1W17 THE ANNE BANKS WILL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2022 General inforrnation The Anne Banks Will Trust is a registered charity in England and Wales. The address of its registered Offi is 5700 Oxford Business Park South. Oxlord, OX4 2RW. Accounting policies 2.1 Basis of preparaiion of financial statements The financial statements have been prepared in accordance Mryth the Charitie5 SORP {FRS 1021- Accounting and Reporbng by Charities= Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191, the Financial Reports"ng Standard applicable in the UK and RepublÈc of Ireld IFRS 1021 and the Charities Act 2011. The financial statements have been prepared to give a 'true and fairf view and have departed from the Charities IAccounts and Reports) Regulations 2008 only to the extent required to provide a Irue and fair. view. This departure has involved following the Charilies SORP IFRS 1021 published in October 2019 rather than the Accounting and Reporting by Charities.. Statemenl of Recommended Practice effective from 1 April 2005 which has since been wthdrawn. The Anne Banks Will Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical c05t or transaction value unless otherwise slated in the relevant accounting poliry. 2.2 Incom8 Al income is recogni5ed once the Charity has entitlement to the income, it is probable that the income wll be received and the amount of income receivable can be measured reliably. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. 2.3 Expenditure Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit to a third party, rt is probable that a transfer of economic benefrts wtll be required in seement and the amount of the obligation can be measured reliably. Expendtture on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes Costs ol all fundraising activities events and non<haritable trading. EXTlI1Ure on charitable activtties is inajrred on diredy undertaking the actiirities thich further the Charity's objectives. a5 well as any assoaated 5UPPOrt costs. Grarrts payable are charged in the year Mthen the offer is made except in those cases where the offer is conditional, such grants being renised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as commitment, but rt accrued as expendilure. All expenditure is indusive of irrecoverabk VAT. Page 8
VYbJsk9un*urnTransorbc Ref. WHMF-PCMW4LVQ 23 Jan 20¥J 14..37..47 GMT{Lrrc +010 111 P 11117 THE ANNE BANKS WILL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2022 Accounting policies Icontinuedl 2.4 Investments Fixed asset investments are a fomi of financial instrument and are inilialty recognised al their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impatrment Investment gains and losses. whether realised or unrealEed, are combined and presented as 'Gain51{Lossesl on investments, in the Statement of financial actiwties. 2.5 Debtors Trade and other debtors are recognised at the setuemenl amount after any trade discount offered. Prepayrnents are valued at the am(wnt prepaid net of any trade discounts due. 2.6 Cash at bank and in hand Cash at bank and in hand indudes cash and short-temi highly liquid investments wth a slKJrt malurty of three months or less from the date of acquisition or opening of the depjsit or similar account. 2.7 Liabilities and provisions Liabilitses are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount OT the settlemeni can be esllmated rellably. Liabilities are recognised at the amount that the Chartty anticipates it wqll pay lo settle the debt or the amount it has received as advanced payments for the goods or SerViS it must provide. 2.8 Fund accounting The permanent endowment fund is to be retained as capital and invested. The restricted income fund hc4ds the income arising frcm the permanent endonent and is to be used for the furtherance of the objects of the charity. Investment income. gains and losses are allocated to the appropriate fund. Investment income Restricted lunds 2022 Total funds 2022 Total runds 2021 Investrnent propety income Listed investment income 15,555 52,205 15.555 52,205 16,476 48,628 67.760 67,760 65.104 Total 2021 65,104 65,104 Page 9
VYbJsk9un*urnTransorbc Ref. WHMF-PCMW4LVQ 23 Jan 20¥J 14..37..48 GMT{Lrrc +010 111 P 12117 THE ANNE BANKS WILL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2022 Investment management costs Endowment funds 2022 Total funds 2022 Total funds 2021 Investment management fees Legal and professional fees Propety insurance 16,133 4.543 1.055 16,133 4.543 1.055 14.932 2,983 1.976 21,731 21,731 19,891 Total 2021 19,891 19,891 Analysis of expenditure by activities Grant funding ol activities Support costs Total funds 2022 Total funds 2021 2022 2022 Direct costs 131,893 5.696 137.589 5,332 Total 2021 5,332 5,332 Analysis of support costs Total funds 2022 Total funds 2021 Activities 2022 Accountancy fees Independent examination fee Legal and professional fees 3,480 1,080 1,136 3.480 1.080 1.136 3,564 1,092 676 5,696 5,696 5,332 Total 2021 5,332 5,332 Page 10
VYbJsk9un*urnTransorbc Ref. WHMF-PCMW4LVQ 23 Jan 20¥J 14..37..49 GMT{Lrrc +010 111 P 13117 THE ANNE BANKS WILL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2022 Analysis of grants 2022 2021 Dogs Trust The Royal Society for the Protection of Birds The Royal Society for the Prevention of Cruelty to Animals Dogs Trust The Royal Society for the Protection of Birds The Royal Society for the Prevention of Cruelty to Animals 24,040 24.040 24.041 19.924 19,924 19,924 131,893 Independent examinerfs remuneration The independent examinerf5 remuneration amounts to an independent examiner fee of £1,080 12021 £1,080). Trustees. remuneration and expenses During the year, no Trustees received ary remuneration or other benefits (2021- £NIL). During the year ended 5 April 2022. no Trustee expenses have been incurred (2021- £NILJ. Investment property Freehold investment property Valuation At 6 April 2021 136,600 At 5 April 2022 136,600 The investsment property is shown at a valuation obtained on 08.03.17 from professional valuers. Page 11
VYbJsk9un*urnTransorbc Ref. WHMF-PCMW4LVQ 23 Jan 20¥J 14..37..50 GMT{Lrrc +010 111 P 14117 THE ANNE BANKS WILL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2022 10. Fixed asset investments Listod investments Cost or valuation At 6 April 2021 Additions 2.124A92 290,549 1267,8551 61,524 Disposals Revaluations At 5 April 2022 2,208,710 Not book value At 5 April 2022 2,208,710 At 5 Apn-12021 2, 124.492 The historical cost of the listed investments at 5 April 2022 was £1,692,20412021.. £1,669,510). 11. Debtors 2022 2021 Due within one year other debtors 14,664 19,582 14,664 19,582 12. Creditors: Amounts falling due within one y8ar 2022 2021 Accruals and deferred income 6,994 10,213 Page 12
VYbJsk9un*urnTransorbc Ref. WHMF-PCMW4LVQ 23 Jan 20¥J 14..37..51 GMT{Lrrc +010 111 P 15117 THE ANNE BANKS WILL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2022 13. Statement of funds Statement of funds - Current year Balance at 6 April 2021 Gainsl Balance at 5 (Losses) April 2022 Income Expenditure Endowment funds Pemanent End0)ent Fund 2.253,526 (21,731) 116.992 2.348,787 Restricted funds Restricted Income Fund 131,893 67.760 (137,589) 62,064 Total of funds 2.385,419 67,760 (159.320) 116,992 2.410,851 Statement of funds - prior year Balan at 6 April 2020 Gain Balance at (Losses) 5 April 2021 Income Expenditu Endowment funds Permanent Endowment Fund 2,007,542 (19,891) 265,875 2,253,526 Restricted funds Restricted Income Fund 72, 121 65.104 (5.332) 731,893 Total of funds 2,079,663 65, 104 (25,223) 265,875 2.385,419 Page 13
VYbJsk9un*urnTransorbc Ref. WHMF-PCMW4LVQ 23 Jan 20¥J 14..37..51 GMT{Lrrc +010 111 P 16117 THE ANNE BANKS WILL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2022 14. Summary of funds Summary of funds - current year Balance at 6 April 2021 Gainsl Balance at 5 (Losses) April 2022 Income Expenditure Endowment funds Restricted funds 2.253,526 131.893 (21,731) (137.589) 116.992 2.348,787 62,064 67.760 2.385,419 67.760 {159,320) 116,992 2,410,851 Summary of funds- prioryear Balance at 6 April 2020 Gains/ Balance at (Losses) 5 April 2021 Income Expenditure Endowment funds Restricted funds 2,tXJ7,542 72, 121 (19,891) (5,332) 265,875 2.253,526 131,893 65,104 2.079.663 65. 104 (25.223) 265.875 2.385.419 Page 14
VYbJsk9un*urnTransorbc Ref. WHMF-PCMW4LVQ 23 Jan 20¥J 14..37..$2 GMT{Lrrc +010 111 P 17117 THE ANNE BANKS WILL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2022 15. Analysis of net assets between funds Analysis of net assets between funds- current year Restricted Endowment funds funds 2022 2022 Total funds 2022 Fixed asset investments Investment propety Current assets Creditors due Mfjthin one year 13,4771 2,212,187 136,600 2,208,710 136,600 72,535 (6,9941 72.535 16.9941 Total 62,064 2.348,787 2.410,851 Analysis of net assets betwaan funds- prior yaar Restricted Endowment funds funds 2021 2021 Total funds 2021 Fixed asset investments 7,566 2,116,926 136.600 2, 124.492 136,600 134,540 (10,213) Investrnent property Current assets 134.540 (10,213) Creditors due wthin one year Total 131,893 2,253,526 2,385,419 16. Relatad party transactions During the year legal fee5 of £5.679 were payable to Freeths for services provided to the charity12021: £3,659). lain Davis is a member of Freeths and Jane Maitland is a consultant. The service5 provided were at commercial rates. Page 15