REGISTERED CHARITY NUMBER: 1117369 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 FOR THE REVERE CHARITABLE TRUST
THE REVERE CHARITABLE TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 Pagè R•port of th• Tru$ts•8 1 to 3 R•port of thè Ind*nant Audltors stst•mont of Flnanelal Actlvltl 8alanc• Sh•et C#$h Flow Stst•mont Not•8 to tho Flnanclal Statemènts 9 to 15 D•¢allod statennI of Flnancl#l A¢tlvltl•s 16
THE REVERE CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2023 The trustees psent their report with the financial statements of the charity for thè year ended 5 April 2023. The Irusteos have adopted the provisions of Accounting 8nd Reporting by Charities.. Statement of Recommended Practice applicablè to charities PTeparirig their accounts in accordance Wilh the Financial R8POrting Standard applicabls in the VK and Republic of Ireland IFRS 1021 (effective l January 20191. OBJECTIVES AND ACTIVITIES The trustees confirm that Ihey have r8fgrred to the guidance contained in Ihe Charity Commission's general guidan¢& on public benefit when VIe1n9 the charity's aims and objecb'ves and in planning future activities and setting the grant making policy lor the year. The object ol the charity is to supwrt such ¢haritsble purposes as the irustees in their absolute discrets'on from time to time think fil. The charity is dependent on the receipt of donaliorns, subscriptions. covenants. sponsorships, legacies and other gifts. Grantmaklng The trustees makè 9rant paymènts against specifjc criteria sel out by the trustees in accordance with the ¢h8rity'$ objectives. ACHIEVEMENT AND PERFORMANCE During the year. the charity had total incoming resources of £303.92512022.. £477,644) and made grants of £380,200 12022". £360,200) to 16 projects wlh don8ti¢)ns varying from £200 to £50,000. FINANCIAL REVIEW Inv•stm•nt poliey and oblèetlves Under the Trust Deed, the tru5tee5 have power to invest trust moneys in the acquisitK)n by purchases or othèrwise or upon security ol such property of whatever nature and wherever situated as the tnJ$l$es shall in Iheir absolute discretion think fit. Reserves policy The policy of the Iwstees is to rnaintain significant reserves lo provide the income and gains required to meet the trustees, proposed level of grant paymenls. In ihis connection the funds repres8ntiro the reserves are invested with a Vlgw to generating income and gains without exposing the charity to undu8 risk. FUTURE PLANS Thé Irusl's aims ft>r 2023-2024 are lo continue lo make grants in pursuanc8 ol th8 Charitab objectives. STRLICTURE, GOVERNANCE AND MANAGEMENT Govemlng docvrnent The Rev8rg Charitable Trust is consliluled by deed of trust and is a r8gi$lèrèd ¢h8rity. No. 1117369. Recruitment and appolntment of new tru8t8e8 The power ol appoinb'ng a new trustee and ol removing a Iru51ee Is vested in a majority, for the time being, of the Iruslees. Recrijrtmenl is undertaken as necèssary through th8 idenlific8lion of skills gaps as truslee level. Inductlon and tralnlng of now trust•ès There is a process of induction for new trustees which irTrGludes meetiros with current trustees and the provisk)n of key inforrnalion. REFERENCE AND ADMINIsTRATp DETAILS Registered Charity number 1117369 Prin¢ipal address We5tbvry Farrnhou8e. Wesl End, Ashwell, Baldock H$rtfordshire SG7 5PJ Pag8 1
THE REVERE CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2023 REFERENCE AND ADMINISTRATIVE DETAILS Icontlnued) Tru8t•¢¥ P W Willmott (deceased January 20241 R J Willmott P O Daniel C J H Cripwell Audltor$ Azets Audit SeNi¢e$ Slaluiory Audrtor 2nd Floor, Rggis H¢)use 45 King William Street London EC4R 9AN Bank•rs Coutts & Co 440 Str8n London SN11 OPZ Soll¢it¢rs Collyer Brislow LLP 4 Bedford Row London WC1R 4TF Invmtment Advl•or• Walker Crips Stockbrokers Old Change House 128 Queen Victoria Strt London EC4V 4BJ St Jamess Place Weallh Management St Jamess Pl8 House 1 Tetbury Road Cirencester Gloucestershire GL7 1FP Page 2
THÉ RÉVERE CHAIIITABLE TRUST IIWJRT OF THE TR118TEES FOR THE YEAR ENOED 6 APRIL 202J STATEIIÉNT OF TRU8TÉÈ$' RESPOII8IBIUTIE8 Th• Irusle•s Are rewntrAB lry wepaw th R[¥ ol I Ttwlétrts &) knith prAuble law Unrtod Kknodom A(ULmtirJ Iurdlod GenwJArthkthdAtthunlna Pr(%1. The fypplthLq• to ¢hantie8 in EwLrynd ond Ch•res Ara 2011. ChoTrty (Acci and Repts1 and k¥#¥10 of lh• InJ61 dÈd fqwwts Iruthes h wop•r• tswom8nt• for ea fin•roal ye8r ¥¥W 9Ne a INÈ ol Iho •lats ol •ff•"r lh• ol th• lTrxmkng and •p[Au of sOUrCeS. •xpenthlUi¢. of Ihe¢harbty forlhei wrbj. In wepanw Ihose [¥1 81aternents. thetruskns Br• r¢wWto . sed t48 pc4YaeaaTrJ In •pptrytrthi DJetiNY, . ototyethe priw•#i the Chority SORP.. . slate aF•¢able accour hwo 0£, $J.0¢1 trj mal•1 ¢qrturnts dibdoled and exF4ained in the slatsrnenl5. ' prepare the fmancqal Slotw on unkn 11 l¥ kn•FvWlp to the thantywil cortmue In ne#S. Tho 4r8 rwblB kf k•WW propw ac¢4yJnth9 dwcJos•wAh r886Wt4v •1 anylin the w5iith ollhe chllrty and to •n•tAo Ihem lo thal the fmrK41 statem cryty ith Ih Chaths Ael 2011. thè Chanty (Aw01$ and RopDrts) Repu1atloni •r tho rmvigitiTr4 of tho trust OAed •ro •0 125poiwb k)r 8aleguatdw the aBBeis of Ihè tharity •ThJ fDf reas{YLIE Steps deloction of1th and oltsw irr•qthtyBs. and it5 b•haKty". R jWA.7rUé Page 3
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE REVERE CHARITABLE TRUST Oplnlon We have auditecj the financial slalements of The Revere Charrtable Trust (the 'chariyI for the year erK1ed 5 April 2023 which comprise Ihe Slalement of Financpal Actiwties, th8 Balance Sheet. the Cash Flow Statenrnt and notes lo Ihe financial slalemenls. in¢ludiw a summary ol significant accounting policS. The financial reporting framework that has been applied in their preparatK)n is apF41Cae law and United Kingdom Accounting Stsndards Ivnited Kingdom Generally Acc8pled Accounting Practice). In our opinron the financial 5tatetnent5'. give a true and fair view of Ihe stat8 of the charty's affairs as at 5 W"12023 and ol rts Sncoming rasources and appltats'on of resources, for tre year then ered.. have been property prepared in accordance wrth United Kirydom Gen8rally Accepled AcrA)unts"ng Practth., and have been prepared in accordance with Ihe ru1reent5 of the Charitie5 Act 2011. Ba81s for oplnion We conducted our a11 In aC0)rdan with Intemaiional Standard5 on Audrting IUKI IISA5 IUKII and applieakAe Lqw. Our fM)nsibilities under IfK)se slaThJards are further d8scrib8d in Ihe AjItors, r8sponsibililies for the audit of the financial statements section of our report. We are IrKJependen( of the charity in accordance with the ethical qUireentS that are relevant lo our a11 ol the financial slalements in the UK. indthing the FRC'S EthiGg1 Standard. and we have fulfilled our other ethical fesponsibililies in accordan th these requiretnents. We believe that th8 audrt evidence we have obtsined 1$ sufficient and appropriate to provide a bass for our opinion. Con¢lu$lon$ relatlng to gc*lng concem In auditing the financial ststements, we havè (x)ncluded that the Twstees use of the going concem basis of 8¢counling in the preparalK)n ol the financial statements is appropriate. B85ed on the WO we have perfom)ed. we have not entifi any mateiial uncertainties relaling to events or corKSition5 that, individually or collectively, may casi significant doubt on the charity's ability lo nts"nue as a going conrn for a perityj of at least tW81v8 rn0nths frorn when the financpl statements are authorised for tssue. Our responsibilrties the $[K)nsIbIlItIeS of the Trustee$ with respgc¢ to going concem are deScrid in the relevant sections of this report. Other Infomiatlon The other informatKJn comprises th8 inlorrnatK)n included in the annual report other than Ihè financial slatewents our audltorfs report tttereon. The Trustee5 are re5FK>nsible lor the other information contained wrthin the annual report. Our opinon on the financial statements does not cover the other inf0mtiOrn and we do not express any fom of 8ssufdnr£ conclusion thereon. Our re5ponsibilily is to read the other information and. In doing so. nsier whether the olher informath)n is materKally Incor151s18nt wth the financial statements or our knoledge obtsIn in the course of the audit, or otherwise appears to be materially misstated. If we idenlfy swh rnaterial Inconsistencies or apparent matenal mi5slaternents, we are requiod to deterrnine whether Iht5 gives rise to a material misstslement in the financial statements Ihernselve5. If, based on the work we hav8 p8rformed, we concl(tde that there is a material misslalement ol this other 1nf0mwtn, we ar8 reouired to report Ihat fact. We have Th)thing io report in this rg9ard. Matt•rn on vthleh wo are requlred to report by exceptlon We have nothing to rew>rt in respect of the followin9 matters Whe Charities (Accounts and ReFOrtsl Regulat¥)ns 2008 require5 us lo report lo you if, in our opinion.. 1he informats'on given in the Rewrt of tre TrusleeB is incorlStent in any rnaterial respect with thè fin8ncial stateffntS". or sufficnt accounling re(x>rd5 have not been kept.. or the financial 5talernents ar8 not in agreement with the accountiro retords and returns.. or we have not rel1¥£d all the informabon and explanab.ons we requi lor our audrt. Re$ponslbillties of trwts¢$ As explained nre fulty in the Ststemenl of Tnjslees. ResFonsibilities. the truste6s arè r85ponsible for the pp8ratK)n of the financial statements which give a true and fair view. and for such internal ctsntrol as the trustees determine Is necessary lo enable the preparatn ol financial ststements that are free from material mKsststemenl, whelher due lo fraud or error. In prep8ring the financial statements, the trustees are $[m)nsIble for assessing the charitys abilty to conbnue as a going concern, di8ck)5ifig, as appIable, mallers related to going concem and using the going concem basi5 of acwunting unless the Iru5tees either Inte io liquidate Ihe charity or to cease operations. or have no realistic alternative bul lo do so. Our f8sFn65bilIts88 for ihB audSt of the finan¢lal $tatsrn¢nts We have been appointed as audrtor5 under Section 144 of the Chanties Act 2011 an(J report in aceord8nce wrth the Act and relevant wulatk)ns made or havlng effeci thereunder. Our obj8Ctives are to obtain reasonable as8ur8nce 8boLrt whether the financial slatements as a whole are free from material m1551alement, whether due to fraud or error, and to issue a Report of Independent Auditors that in¢le$ our opnion. Reasonable assurance is a hioh lèval of assurance, but is not a guarantee that an 8u¢Il conducted in accordance with ISAS IUKI will always detect a material THB51atemenl when it exists. Misstatements can arise from fraLKJ or error and are Considered material il. irKlividually or in the aggregate. they coukl reasonably b8 8XP8Ctad to influence the ecLInom d8cisions of users taken on the basts of these financial statements. A further ¢Ye$criptDn of our responsibilities lor the audrt of Ihè financial sia16ment5 is bcated on the Finan1 Reporting Council's web51te 81 www.frc.org.uklauditorsresponsibilty.es. This description forms part of our Rewrt of the Indepeent Auditors. Page 4
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE REVERE CHARITABLE TRUST Extent to whl¢h the audlt was consldered capable of detecllng Irregularftles, Includlng fraud Irregularities. IndLKting IraLKI, are instances of n0MplianCe wilh laws and regulations. We design procedures in line with our responsibilities, outlined atove and on the Financial Rewrting Council's website. to detect malerial misststèments in respe¢l of irregularits. induding fraud. We obtain and update our under51anding of the entity, its activitl85, its control environment, and likety futu devek)pmenls. including In relation to the legal and regulatory frarnework applicable how the entity Is cornplyin9 Wlth that frame¥work. Based on this understanding, we idsntty and assess thè risks of material misstatemant of the financial ststemenls. whether due to fraud or error. iJesKJn and perfomi audit procedu$ spOnSive to those nsks. obtsin audit evidence that is sufficient and appropriate to provKYe a basis for our opinion. This inclLkJes eonsx1eration of the risk of acts by the entity that were contrary ¢0 applicable laws and regulations, including fraLkJ. In response to Ihe ii5k ol irregularities non-rrjmpliance wrth laws an(J regul71n$. induding fraLvJ, we de5ion8d Predre3 which included.. Enquiry of management and those Charged with governance arouThJ actual and potential Irtigatn and ¢larns as wdl as actual, svspected and alleged fraud., Assessing the extent of cornpl¢an wrth the laws and regulations consided to have a 1cl material effect on lh8 financial slalements Of the opgratKins of the entity through enquiry and inspection.. Reviewng financial statement disclosures and testing to supwrting dOcumentatn to assess eofflplianc8 wth applicable laws and regulations". Pertorming audit work over the risk of management bias and override of CA)ntrols. includin9 iesting of any adjustments for appropriateness. evaluating Ihe business rationale of signrfieant transactions oUtse the norrn81 cgurse of business and iewing accounting eslimales lor ind10 of potential bias. Because of the Inherent limitstDns of an audrt. there is a risk that we wll not detect all Irregularities. including Ih05e ading lo material misstatement in the financial ststements or non-compliance with gulatIOn This risk increases the more that compliance wtth a law or regulation is reVe from the events and Iransacth)ns flected In the financial staternents, as we will be less likely to become aware ol instan$ of non-cornpliance. The risk of rt detectino a material misstaternenl results.ng from fraud is higher than for one Su1n9 from error, as fraud may Invdve collusH)n, forgery, Intentn81 omissions, tnisr8prasèntatsons. or the overrKle of Initrnal conirol. other matters YoLJr attention drawn to the fact that the tharrty has pr8pared financial 51atemenls in accordance with "Accounting and Reporting by Charities.. Statèmnt of R&tsmmended Practice applicable to charrties preoarino their accounts in acrdan w4th the Financial Reportiw Staard applicable in the UK and Republic of Ireland IFRS 1021" jas amended) in preference to the Accounting and Reporting by Charrties." Slat8rn8nt of Recomm8nd8d Practice is5u8d on 1 April 200S whi¢h i8 fer lo in the eKlant regul8tK)ns bul has now been wilhdr8wn. This has been done in order for the financi81 ststements to provide a true and fair view in accordaThce wth curfent Generally Accepted Accounting Practice. U58 of our report Thi5 report is rnatje soldy to the chaity's ttustees. as a b(KJy, In aCCDrdance with Part 4 of the Charities (Accounts and Reportsl Regulation5 2008. Our aLKJit work ha5 been undertaken so Ihal we mighl stale to the charity's trustees those matters we a required to stste to them In an audi1. report and for no Other purpos6. To the fullesi extent perrnitt8d by law, we ¢0 not acp1 or 85sume responsibility to anyonè other than the eharity and eh8riVs trL&qtÈ6s as a tM)dy, for our audrt work. for th1s report. orfor the opinions we have lormed. lan Jefferson (Senior Statutory Auditor) for and on behalf of Azet5 Audit Services Chartered Accountants 2nd Floor. Regis House 45 Klng Wllliam Slr881 London, EC4R 9AN Oate: ............... 7I4- A2e15 Audil Services is digible for apKK)inln*nl as aL¥Yitor of the charity by virtue ol ils eligibility for ap)intrent as 3y1t0r of a company urter ofsectK)n 1212 ofthe fr)rnpanies Act 2006. Page 5
THE REVERE CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023 2023 Unre$trlcted fund 2022 Total fund$ Note8 INCOME AND ENDOWMENTS FROM Donations 141,808 Investment income 162117 Total 303.925 477.644 EXPENDITURE ON Raisng funds 2,896 3,190 Charitsble actSvltl•¥ Grant rnakin9 400,675 365.429 Total 403,571 368,619 Net Iloss19ains on invoslments Unrealised gains from inv$$lmenl property revaluation 1199,3401 296,016 165,CK)O NET IDEFICIT)I INCOME {248,9861 570,041 RECONCILIATION OF FUNDS Totsl funds brought forbyard 8,013,802 7,443,761 TOTAL FUNDS CARRIED FORWARD 7764816 8,013.802 The notes fom part of these financi81 statements Page 6
7HÉ RMRE cIMifA8LE7RIIJT 8ALAN¢E 8NEET SAPAIL 202J gri23 2022 Ttsill fur4 nd FIXÈO ASSET8 InY•th•NS In¥e4kntn In¥esknwil 5,712,110 5.911,Ag) 12 7,182,110 7.311.450 CUAREIIT AS$£T¥ blorn.. amtyJN$f•ibfothJo¥mhin¢n•y•w C•h •1 13 122.79) 711.5X CAEOITORJ Am¢vnts tsUNiduEYthhkn y• 14 18,100 .1741 Nrf CURRENT ASSET8 TOTALAssen LESS CURRENT UAgILrnE¥ 7.744.111 8.013,802 NET A88ET8 8 013802 FUNDS Unr•¥viciertfLfftd• 15 7 7¢4 810 TOTAL FUNDB 7704 811 R J Wlm¢•.Tw• Ptyè7
THE REVERE CHARITABLE TRUST CASH FLOW STATEMENT FOR THE YEAR ENDED 5 APRIL 2023 2023 2022 Notes Cash from operating aCtivbti•$ Cash generated from operalSons 329,789 97,9) Net Cash luttlid inl op8rating actniibgs 329,789 97 9091 Cash flows from invgsting ¥tivities Interest received Dividends receive Rentsl ineome 12,284 109,418 11.452 g8,093 35.599 Net cash generated byllulilised inl investing activi5 182 117 145,144 162,117 145,144 Change in cash and cash equSvalents In the pOrtIng perlod Cash and cash equivalents at the beglnnlng of the reportlng period 12,9701 47,235 588 776 541,541 Cash and cash equivalents at the end of the reportlng perlod 585,806 588,776 RECONCILIATION OF NET {EXPENDITUREyINCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2023 2022 Net Ilos$V in¢ome for the reporting period Adjustments for-. Lossl IGainl on investmenls (Gain) on revaluations DivKltrnds reoeived Deorease in debtors Decrease in credito 1246,9861 570.041 199,340 150,0001 1162.1171 97,750 1296,0161 1165,0001 1145,1441 66.500 4,710 Net cash lutSlls•d Inl op•ratlons 329 789 The notes fom part of these financial statements Page 8
THE REVERE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2023 GENERAL INFORMATION The Revere charilab Trust is a registered ¢h8rity in the United Kingdorn, no 1117369. The principal address ol Ihe Charity is given in the charity information on page 1 of these financial statemènts, as are the nature of the Charity's operalions and princip21 activitiès. ACCOUNTING POLICIES Basi5 of prgparing the financlal statements The financial ststernents ol the charity. which is a public benefit entity under FRS 102, have b8en prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Ststement of Recommended Practice applicable to charities preparing their accounts in accordancè wlh the Financial Reporting Stsndard applicable in the UK and Republic of Iland IFRS 1021 leffective 1 January 20191,. Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Irèland, and the Chariti¢s A¢1 2011. Tlie finonLliil 5tatetnents have been prepared under the histortcal cost conventK)n. wilh the exception of investments whh are induded al market value, as modified by the revaluatlon of certain assets. The Charity has a reasonable expectation that there arè adequate resources to continue In operational existence for the foreseeable future. 11 has thefore continued to adopt the goin9 concem bass in prepariro its financial lements. The financi81 stalernenis are prepared in steding whlch is the fvn¢lional currency of the charity. Income All income is recognised in the Statement of Financial Activities once the charity has entitlètn8nl lo the funds, il is probable Ihat Ihe income will be received, and the amount ¢an be measured reliably. Expenditure Expenditu is accounted lor on an accruals basis and has been classified under headings ihat aggregate all co$l related to ihe category. Where ¢o$ts ¢annol be directly 8ttributed to parts'cular headings. they have been allocètèd lo activities on a ba&s consistent with the use of resoijrce5. Grants offed subject to conditions which have not been met al the year end dale are noted as a commitmant but not accrued as expenditure. Investment property Intrestmenl property is shown at most recent valuation. Any aggregate surplus or dèficit arising from changes in fair value is recognised in the Stslement of Financial Activities. Subsequent fair value valuations arè carried out Oy the Irustetss. Flxed asset Investm•nt$ Investments are a form of basic finanoi81 instrument and are initially recognisèd at their transaction value and subsequently mèasured at their fair valu$ 85 8t the balance sheet date using Ihe ¢losing qwted market price. All gains and bsses are tsken lo the Slalemenl of Financial Acliwlies as they arise. Realised gains and 105ses on investments are calculatèd as the differ8nce between sale proceeds and op8ning market value Ipurchase date if later). Unrealised gains and los$e$ 8re 08lcul8ted as the difference betwe8n the market value at the year end and openin9 market valuè lor purcha58 dale if lalerl. Debtors Debtors are recognised at the setdement amount dug. Cash at bank and In hand Cash at bank and cash in hand includ85 rash and short temi huhly liquid investmÈnts with a short maturity of three months or sS from the date of acquisition or opening of the dewsit or similar account. Creditors Creditor$ are recognised Whe the Trust has a psernI obligation res(Jlting Irorn a past event that will probably result In the transfer ol funds to a third party and the amount due its $8tt1e the obligation can be measured or estimated reli8bly Creditors a recognised at their settlement amount due. Page 9
THE REVERE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2023 ACCOUNTING POLICIES Icontinuedl Taxation The ch8rily is exempt from tax on its charitable activities. Fund aceounting Unrèstricted funds can be used in accordance with the charitable obCtsveS at the discretion of Ihe trustees. RèsIrted funds c8n onty be used for particular restricted purposes within 1he objects of the charity. Restrictions arisè whon $p8tyfied by the donor or when fvjnds are raised for particular restricted purpos&s. Further explanaknon of the nature and purFM)se of each fund is induded In the notes to the financial statements. Going concern The financial statenntS have been prepared on a going concem basis as the trustees believe that no material uneertpinties exist. The trustees have conside the level of funds held and thè expected level of income and expènditure for 12 rnonlhs frcm auihorising these financial statements. The budgeted income and expenditura is sufficient with the level of reserves for the charity to be able to continue as a going eonctsm. her recognlsgd galns and108ses All gains and losses are laken to the Statement of Financial Actiwt*s as they arise. Realised gains and Ioss6S on investrnenls are calculated as the difference bewn sales prOedS and op&ning markel value Ipurchase dele if lalerl. Unrealised gains and losses are calculated as the differénce between the market value at Ihe year end and opening fflarket value Iix purthaw (Jate if18terl. DONATIONS 2023 2022 Donatsons Gift aid 100,000 266,000 66,500 141,808 332.500 INVESTMENT INCOME 2023 2022 Porffolio divid@nds and gloss Int&St Portfolio and inv8stsll8nt bond net interest Renlal income 106,699 15,004 40,414 98.093 11.452 35.599 162,117 145.144 P89e 10
THE REVERE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 5 APRIL 2023 RAISING FUNDS Ral8lng donatlons and l•ga¢l•s 2023 2022 Management charges 2,896 3,190 CHARtTA8LE ACTMTIES COSTS Grant funding ol activities (see note 71 Support costs 158e note 81 Toials Grant making 400.675 GRANTS PAYABLE 2023 2022 Giant rnaklng 380 200 360,200 Grants payable wi the year.. WoDdl8nd Trust Hitchin SGOUts CounGiI Lifelites The Children's Twst Alzheimerfs Research UK Essex and Herts 'r Ambulance Tud(ey-Syria Earthquake Appgal IDECI Motor Neurone Action for River Kennett Roy81 Mar5den Asthma + Lung UK Soundaboul The Stroke Associatson The Garden House Hospice Versus Arthritis 30,2(KJ 10,000 5,000 50,000 15,000 5,000 25.000 15.000 50.000 30,000 5,000 10,000 50.000 380,200 SUPPORT COSTS Govemanc& costs Finance Totals Grant making 396 Page 11 nlnued...
THE REVERE CHARITABLE TRUST 140TES TO THE FINANCIAL STATEMENTS- cont5nu•d FOR THE YEAR ENDED 5 APRIL 2023 SUPPORT COSTS- ¢ontlnu•d Support costs, induded in thtr above, arts as follows.. 2023 Grant m¥klng 2022 Total actSvltios Bank charges Auditors. remuneration Professional fees Insurdnce Property ¢osts 396 9,132 3,000 840 7.107 519 4,710 20,475 TRUSTEES, REP41UNERATrON AND BENEFITS There was no trustè&s' Munration or other benefits for the year ended 5 April 2023 nor for the year andad 5 April 2022. No truslg&s was reimbursed for travelling axpansg$12022.. Nill. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcnviTIES 10. Unr8Strfcted fund INCOME AND ENDOWMENTS FROM Donations and legaciès 332,500 Investment income 145.144 Total 477,644 EXPENDITURE ON Raising funds 3,190 Chorltable actlv5tl•s Grant makiThJ 365,429 Total 368,619 Net gains on Investments Unrealised gains from investment propety revaluat 296,016 165.000 NET INCOME 570,041 RECONCIUATION OF FUNDS Totsl funds brou9ht forward 7,443,761 TOTAL FUNDS CARRIED FORWARD 8013802 Po98 12 eontinued...
THE REVERE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS. ¢ontlnued FOR THE YEAR ENDED S APRIL 2023 11. FIXED ASSET INVESTMENTS L16t•d Inv•8tmont¥ MARKET VALUE At 6 April 2022 Additions Disposals Revaluations S,911,4S0 609,123 1609,1231 199 3401 At 5 Aprll 2023 5712,110 NET BOOK VALUE At 5 Ap1 2023 5712 110 Al 5 Apwfjl 2022 5911450 There We no investment assets tsIde the UK. 2023 2022 Historiral cost al S April 4.093 835 3 998 285 Investrnents al marftet value comprise.. 2023 Equity Fixed income Allem8five Hybrid St Jame5* Place Unit Trust Cash 3,321,125 371,882 1,403,407 12,919 226,838 315,879 5712 110 12. INVESTMENT PROPERTY FAIR VALUE At 6 April 2022 Additlons RevaluatSon 1AOO,000 50,000 At S Aprfl 2023 1.450,000 At 5 April 2023 NET BOOK VALUE Al S April 2023 1 450 000 Al 6 April 2022 1.400,000 Page 13 conbnu8d...
THE REVERE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS- ¢ontinued FOR THE YEAR ENDED 5 APRIL 2023 12. INVESTMENT PROPERTY- contSnued Investment property is made up as lollows.. A property at 25 The EKJhts Marina. which was grfted to the charity in Iwo Iransfers dufing the 2015-2016 and 2016-2017 financial years, al agent's marf(et value at 29 JU 2015. On 10 January 2024. the property was Valued al £575,000 by the agent Redmayne Arnold & Harris. - A property 8150 George Street. which was purchased by the charty during the 2018-2019 financial year. On 10 January 2024, the property was valued at £875.000 by the agent Redmayne Amld & H8rriS. Th8 dirgclors do not consider that there h85 been 8 material change in the valuation t*tween the year end anij the valv81ion d8le li.e. 10 January 20241. 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Prepayments and accrued income 122,750 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Other crellilors 15. MOVEMENT IN FUNDS Nel movement in funds At 5.4.23 At 6.4.22 UnrestrScted funds General fund 8.013.802 1248,986) 7,764,816 TOTAL FUNDS 8.013 802 248,986} 7,764,816 Net movement in funds. induded in the atrK&ve are as lollows.. In¢oming resources Resources expended Gains and losses Klovement in lunds Unr•$trl¢t•d fvnd$ General fund 303.925 1403,5711 1149,340 1248,9861 TOTAL FUNDS 303.925 403,571 248,9861 Comparatlv•$ for mo¥•m•nt In fund$ Nel movement in funds At 5.4.22 Al 6.4.21 Unrestrtcted funds General fund 7.443.761 570.041 8.013.802 TOTAL FUNDS 7,443,761 570.041 8,013,802 Page 14 continued...
THE REVERE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS. ¢ontlnu•d FOR THE YEAR ENDED S APRIL 2023 15. MOVEMENT IN FUNDS- ¢ontlnu•d Compar8tNe nel movement in funds, included in the above a as follows.. Incoming rèsour¢es Resources expended Gains and 10$88s Movement in ndS Unrestrl¢t•d fund$ General furKI 477,644 1368,6191 461.016 570,041 TOTAL FUNDS 368,6191 461,016 18. RELATEQ PAR DISCLOSURES No Related Paty transac.0$ to diÈclos8. Pa9& 15