THE MELVILLE CHARITABLE TRUST
FINANCIAL STATEMENTS
31 MARCH 2024
CONTENTS
| Page | |
|---|---|
| 1 | Administrative Information |
| 2 - 3 | Trustees' Report |
| 4 | Independent Examiner's Report |
| 5 | Statement of Financial Activities |
| 6 | Balance Sheet |
| 7 - 8 | Notes to the Financial Statements |
FLETCHER & PARTNERS
CHARTERED ACCOUNTANTS
SALISBURY
Page 1
THE MELVILLE CHARITABLE TRUST
ADMINISTRATIVE INFORMATION
TRUSTEES
Yvonne Copeland (Chair) Maria Melville Patrick Melville Sophie Melville
SECRETARY
Nigel Melville
CHARITY ADDRESS
Braehead House Longstock Road Stockbridge Hampshire SO20 6DJ
ADVISERS
Accountant
G.D.Thomas, F.C.A., Messrs Fletcher & Partners Crown Chambers, Bridge Street, Salisbury, Wiltshire, SP1 2LZ
Bankers
Lloyds Bank
Investment Fund Managers
Charles Stanley & Co. Limited 55 Bishopsgate, London, EC2N 3AS
REGISTERED NUMBER
1116593
Page 2
THE MELVILLE CHARITABLE TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their Annual Report and Accounts for the year ended 31 March 2024, which have been prepared in accordance with the charity's trust deed, the Charities Act 2011 and 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 (FRS102) (effective January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT
The trust was established under a trust deed dated 28 September 2006. The trustees as charity trustees have control of the charity and its property and funds. The full number of trustees is between three and five individuals who are appointed by the Founder, Nigel Melville.
The trustees have reviewed the main risks to which the charity is exposed and confirm that systems have been established to mitigate those risks.
The trustees confirm that they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers or duties.
OBJECTIVES AND ACTIVITIES
The object of the charity is to further any lawful charitable purposes as the trustees think fit. The trustees must use the income only of the charity in promoting the objects.
ACHIEVEMENTS
During the period the charity made donations totalling £25,000 to the following charities:-
Army Flying Museum exhibits and records all aspects of flying in the British Army, both past and present.
Blond McIndoe Research Foundation supports research into techniques and technologies which will repair, restore and regenerate tissue and reduce debilitating scarring.
Brooke Hospital for Animals provides free veterinary treatment for animals in Egypt, India, Pakistan, Kenya, Ethiopia and other poorer countries.
Children Change Colombia provides support to Colombia's most vulnerable children by working in partnership with local NGOs.
Children's Literacy Charity provides a literacy lifeline for children with learning difficulties in inner city primary schools.
CRESS is a Christian Foundation which educates and trains South Sudanese people in South Sudan and Northern Uganda.
David Sheldrick Wildlife Trust manages an orphanage for elephants and rhinos in Kenya and rehabilitates the orphans back into the wild.
Dutch Centre acts as the focus of past, present and future Dutch culture in London.
Future Hope provides shelter, education and medical aid to street children in Kolkata, India.
Hawk Conservancy Trust works in the fields of conservation, education, rehabilitation and research of birds of prey.
Historic Royal Palaces is responsible for conserving the Tower of London, Hampton Court Palace, The Banqueting House, Kensington Palace, Kew Palace and Hillsborough Castle.
Hope & Homes for Children works in Central and Eastern Europe and in Africa to enable children to grow up in a family and not in institutions.
Page 3
THE MELVILLE CHARITABLE TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024
InDependent Diabetes Trust works with people with diabetes, their carers and medical professionals to make easier the day to day lives of those with the condition.
La Casa de la Madre y el Nino provides a home for pregnant women and children without families in Bogota, Colombia.
Mauritshuis is one of the most prominent museums in The Netherlands, containing a major collection of old Dutch and Flemish masters.
Mercy Ships is a faith-based international development organisation which deploys hospital ships delivering healthcare to some of the poorest countries in sub-Saharan Africa.
Muday Association supports and educates poor children and provides skill training for mothers in Ethiopia.
Newcastle University Sanctuary Scholarships offer fully funded places to students who are refugees or asylum seekers.
UCLH Gliobastoma Research Group aims to improve outcomes for people diagnosed with glioblastoma through reaearch and clinical trials.
Parkinson's Disease Society alleviates the suffering and distress caused by the disease through effective research,
education, welfare and communication.
Prospect Burma is a non-political educational charity dedicated to supporting the education of students both in Myanmar and abroad.
Rise:61 is a Christian charity set up to improve the lives and prospects of young people living in the Bemerton Heath estate in Salisbury.
St Paul's Centre (SPEAR Project) is an employment preparation programme aimed at 16-24 year old unemployed people in London and other English cities.
Trussell Trust provides emergency food and support to people in crisis in the U.K through its network of food banks.
Trinity College, Oxford is creating an endowment to fund a Classics Fellowship.
FINANCIAL REVIEW
During the year the trust received restricted and unrestricted donations totalling £20,000, on which the trust recovered tax of £5,000.
The trust earned investment income and interest of £13,102.
The trust made charitable donations of £25,000.
The trust paid investment management fees of £2,886. The trust incurred governance and other costs totalling £1,020. This resulted in net income of £9,196. There were unrealised net gains on investments of £31,641. The trust's overall net assets increased by £39,007 to £530,829.
PLANS FOR FUTURE PERIODS
The trustees intend to continue pursuing the objectives stated above.
Signed on behalf of the trustees ………………………………….
Approved by the Irustees on .
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MELVILLE CHARITABLE TRUST FOR THE YEAR ENDED 31ST MARCH 2024
I report on the financial statements of the Charity for the year ended 31 March 2023 which are set out on pages 5 to 8.
Respective Responsibilities of the Trustees and Examiner
As the charity's Trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act").
I report in respect of my examination of the Trustee'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 2011 Act.
Independent Examiners 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 Charity as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
Geoffrey Thomas FCA Chartered Accountant Fletcher & Partners Crown Chambers Bridge Street Salisbury SP1 2LZ
Page 5
THE MELVILLE CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| INCOME AND ENDOWMENTS Donations and legacies Donations Tax recovered Investment income TOTAL INCOME EXPENDITURE Investment management fees Charitable activities TOTAL EXPENDITURE NET INCOME / (EXPENDITURE) BEFORE GAINS / (LOSSES) ON INVESTMENTS Realised gains / (losses) Net unrealised gains / (losses) on investments NET MOVEMENT IN FUNDS Reconciliation of Funds TOTAL FUNDS BROUGHT FORWARD TOTAL FUNDS CARRIED FORWARD |
Notes 2 3 |
Unrestricted | Unrestricted | Endowed Fund 10,000 2,500 - 12,500 2,886 - 2,886 9,614 (1,830) 31,641 39,425 459,147 498,572 |
2024 TOTAL |
2024 | 2023 TOTAL |
2023 | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fund 10,000 2,500 13,102 |
Fund | |||||||||||
| 20,000 5,000 13,102 |
20,000 5,000 11,474 |
|||||||||||
25,602 26,020 26,020 (418) - - (418) 32,675 32,257 |
38,102 2,886 26,020 28,906 9,196 (1,830) 31,641 39,007 491,822 530,829 |
36,474 2,786 27,123 29,909 6,565 - (23,795) (17,230) 509,052 491,822 |
||||||||||
The notes on pages 7 and 8 form part of these accounts
Page 6
THE MELVILLE CHARITABLE TRUST BALANCE SHEET
AS AT 31 MARCH 2024
| FIXED ASSETS Investments CURRENT ASSETS Debtors and prepaymments Cash at bank and in hand one year NET CURRENT ASSETS NET ASSETS Representing: FUNDS Unrestricted Income Fund Restricted Endowment fund Signed on behalf of the Trustees ……… Approved by the Trustees CREDITORS :amounts falling due within |
Notes 5 6 7 …………… |
2024 58,405 __ 58,405 1,733 ____ …………………. |
2024 474,157 56,672 £530,829 32,257 498,572 £530,829 . |
2023 2023 422,374 71,181 __ 71,181 1,733 ____ 69,448 £491,822 32,675 459,147 £491,822 |
|---|---|---|---|---|
… |
The notes on pages 7 and 8 form part of these accounts
Page 7
THE MELVILLE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES
a. Basis of accounting
The financial statements have been prepared in accordance with 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 (FRS102) (effective January 2019).
The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.
b. Expenditure
Expenditure is accounted for on an accruals basis.
Donations are recognised as expenditure when a commitment has been made and there are no conditions to be met relating to the donation which remain in the control of the charity.
c. Fund structure
The endowment fund constitutes the capital of the trust and cannot be spent. The income arising is available to be spent on any of the trust's purposes.
d. Investments
Investments are stated in the balance sheet at market value. Income is credited when the distribution becomes due and payable. Any unrealised gain or loss is recognised in the statement of financial activities for the year.
2. INVESTMENT INCOME
| ESTMENT INCOME | ||
|---|---|---|
| 2024 | 2023 | |
| Income from quoted investments | 12,704 | 11,463 |
| Interest on cash held on deposit | 398 | 11 |
| £13,102 | £11,474 |
3. CHARITABLE ACTIVITIES
Charitable donations
| 2024 | 2023 | |
|---|---|---|
| Relief of poverty | 11,000 | 10,000 |
| Medical research/support | 5,000 | 6,000 |
| Furtherance of education | 5,000 | 6,000 |
| Support of the arts | 4,000 | 4,000 |
| Governance costs | 1,020 | 1,123 |
| £26,020 | £27,123 |
4. GOVERNANCE COSTS
| 2024 | 2023 | |
|---|---|---|
| Accountant's fees | £1,020 | 1,020 |
Page 8
THE MELVILLE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
5. INVESTMENTS
| ESTMENTS | |
|---|---|
| Endowed | |
| Fund | |
| Market value at 1 April 2023 | 422,374 |
| Disposals at opening value | (71,115) |
| Acquisitions at cost | 91,257 |
| Unrealised gains on portfolio | 31,641 |
| Market value at 31 March 2024 | £474,157 |
| Listed investments constituting more than 5% of the total market value of the portfolio as follows:- |
| Alliance Trust | 31,550 |
|---|---|
| Edinburgh Investment Trust | 24,840 |
| Fidelity Global Dividend Fund | 23,849 |
| Murray International Trust | 30,814 |
| Scottish Mortgage Investment Trust | 33,525 |
| Market Value at 31 March 2024 | £144,578 |
6. DEBTORS
| Sundry debtors 7. CREDITORS: Amounts due within one year Accruals |
2024 - £ - 2024 1,733 |
2023 |
|---|---|---|
| - £ - 2023 |
||
| 1,733 |
8. RELATED PARTY TRANSACTIONS
£25,000 of donations (including Gift Aid) were received from the Founder, Nigel Melville.
9. TRUSTEES REMUNERATION AND EXPENSES
None of the trustees received either remuneration or expenses from the charity in either 2024 or 2023.