THE ROPER FAMILY CHARITABLE TRUST
Trustees’ Report
and Financial Statements
for the year ended 25 July 2021
Registered Charity Number 1120400
THE ROPER FAMILY CHARITABLE TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 JULY 2021
CONTENTS
| Page | |
|---|---|
| Charity information | 1 |
| Trustees’report | 2 |
| Independent auditor’sreport | 4 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Statement of cash flows | 8 |
| Accounting policies | 9 |
| Notes to the financial statements | 11 |
THE ROPER FAMILY CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 JULY 2021
CHARITY INFORMATION
Trustees
Paul Roper Mark Roper Coutts & Co (to 05 April 2021) Ludlow Trust Company Limited (from 06 April 2021)
Principal office
1st Floor Tower Wharf Cheese Lane Bristol BS2 0JJ
Registered charity number
1120400
Independent Auditor
Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY
Bankers and investment managers
Coutts & Co 440 Strand London WC2R 0QS
Page 1
FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 JULY 2021
THE ROPER FAMILY CHARITABLE TRUST
TRUSTEES’ REPORT
The trustees have pleasure in presenting their annual report for the purposes of the Charities Act 2011, together with the accounts for the year ended 25 July 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.
STRUCTURE GOVERNANCE AND MANAGEMENT
The Roper Family Charitable Trust is a registered charity constituted under a trust deed dated 24 July 2007, and registered as a charity 1 August 2007.
The trust is controlled by the trustees. The power to appoint and remove trustees rests with the settlor trustees during their lifetime and subject to this is exercisable by the trustees from time to time.
On agreeing to become a trustee of the charity, the trustees are thoroughly briefed by the existing co-trustees on the constitution of the Foundation, the day-to-day management, responsibilities of the trustees, the current objectives and future plans.
The trustees have assessed the major risks to which the charity is exposed. The trustees believe that by ensuring controls exist over key financial systems incorporating Coutts & Co’s systems and controls they have established effective systems to mitigate those risks.
OBJECTIVES AND ACTIVITIES
The charity’s objects are:
“To further such other objects or purposes which are exclusively charitable according to the law of England and Wales in any part of the world and in such manner as the trustees may in their absolute discretion think fit.”
In pursuance of its objects, the charity’s income, and, at the absolute discretion of the trustees, its capital, is applied in making grants to charitable organisations.
In determining how the charity should pursue its objects, the trustees have had regard to the Charity Commission's guidance on public benefit.
ACHIEVEMENTS, PERFORMANCE AND FINANCIAL REVIEW
During the year under review the donations to the trust totalled £733,741 (2020: £1,424,768). Incoming resources for the year totalled £660,832 (2020: £508,931) consisting of investment income of £101,781 (2020: £122,337) and transfers from the capital fund of £559,051 (2020: £386,594) to cover expenditure in excess of investment income received.
Charitable expenditure in the year comprised grants to charitable organisations totalling £571,000 (2020: £397,700) while support and governance costs amounted to £37,183 (2020: £47,269) giving total resources expended of £608,183 (2020: £444,969).
Given the availability of the expendable endowment fund the trustees do not consider that the charity needs to maintain any significant free reserves although they recognise that such reserves will arise from time to time. As at 25 July 2021 free reserves were a surplus of £119,979 (2020: £67,330).
PLANS FOR FUTURE PERIODS
The trustees intend to continue the charity’s grant-making activity.
Page 2
THE ROPER FAMILY CHARITABLE TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 JULY 2021
TRUSTEES’ REPORT
STATEMENT OF TRUSTEES’ RESPONSIBILITIES
The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
APPOINTMENT OF INDEPENDENT AUDITOR
For the year under review the charity exceeded the audit threshold and appointed Blue Spire Limited as auditors. Blue Spire Limited have expressed their willingness to remain as auditors of the charity.
Approved by the trustees and signed on their behalf.
David Breach on behalf of Ludlow Trust Company Limited Trustee
11 May 2022 Date
Page 3
THE ROPER FAMILY CHARITABLE TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 JULY 2021
INDEPENDENT AUDITORS’ REPORT
Independent Auditors’ Report to the Trustees of The Roper Family Charitable Trust
Opinion
We have audited the financial statements of The Roper Family Charitable Trust (the ‘charity’) for the year ended 25 July 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charity’s affairs as at 25 July 2021, and of its incoming resources and application of resources, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the trustees’ report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
-
the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or
-
• sufficient accounting records have not been kept; or
-
the financial statements are not in agreement with the accounting records; or
-
we have not received all the information and explanations we require for our audit.
Page 4
THE ROPER FAMILY CHARITABLE TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 JULY 2021
INDEPENDENT AUDITORS’ REPORT
Responsibilities of trustees
As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Cawley Priory South Pallant Chichester West Sussex Blue Spire Limited, Statutory Auditor PO19 1SY 11 May 2022 Date
Blue Spire Limited is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.
Page 5
THE ROPER FAMILY CHARITABLE TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 JULY 2021
STATEMENT OF FINANCIAL ACTIVITIES
| Note INCOME AND ENDOWMENTS FROM: Donations and legacies 1 Investments 2 Total EXPENDITURE ON: Charitable activities 3 Total Net gains/(losses) on investments 7 Net Income/(expenditure) Transfers between funds 10 Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward 9, 10 Total funds carried forward 9, 10 |
Income Fund £ - 101,781 101,781 608,183 608,183 - (506,402) 559,051 52,649 67,330 119,979 |
Capital Fund £ 733,741 - 733,741 - - 845,252 1,578,993 (559,051) 1,019,942 4,591,456 5,611,398 |
2021 Total Funds £ 733,741 101,781 835,522 608,183 608,183 845,252 1,072,591 - 1,072,591 4,658,786 5,731,377 |
2020 Total Funds £ 1,794,982 122,337 |
|---|---|---|---|---|
| 1,917,319 | ||||
| 444,969 | ||||
| 444,969 | ||||
| (194,090) | ||||
| 1,278,260 - |
||||
| 1,278,260 3,380,526 |
||||
| 4,658,786 |
None of the charity’s activities were acquired or discontinued during the above two financial years. The charity has no recognised gains or losses other than those dealt with in the statement of financial activities.
Page 6
THE ROPER FAMILY CHARITABLE TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 JULY 2021
BALANCE SHEET AS AT 25 JULY 2021
| Note FIXED ASSETS Investments 7 CURRENT ASSETS Debtors - Loans Cash at hand and in bank Total current assets CURRENT LIABILITIES Creditors: amounts falling due within one year 8 Net current assets/(liabilities) Net assets/(liabilities) THE FUNDS OF THE CHARITY Capital (expendable endowment) 9, 10 Income 9, 10 Total charity funds |
£ £ 4,749,269 25,000 960,830 985,830 3,722 982,108 5,731,377 5,611,398 119,979 5,731,377 2021 |
£ £ 3,984,001 25,000 666,319 691,319 16,534 674,785 4,658,786 4,591,456 67,330 4,658,786 2020 |
£ £ 3,984,001 25,000 666,319 691,319 16,534 674,785 4,658,786 4,591,456 67,330 4,658,786 2020 |
|---|---|---|---|
| 4,658,786 | |||
| 4,591,456 67,330 |
|||
| 4,658,786 |
The notes on pages 11 to 14 form part of the financial statements
Approved by the trustees and signed on their behalf
David Breach on behalf of Ludlow Trust Company Limited Trustee
11 May 2022 Date
Page 7
THE ROPER FAMILY CHARITABLE TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 JULY 2021
STATEMENT OF CASH FLOWS
| Note £ £ Net cash flow from operating activities (see below) 112,746 Cash flow from investing activities Purchase of investments (3,110,522) Proceeds from sales of investments 3,190,506 Investment income 101,781 Net cash flow from investing activities 181,765 Net increase/(decrease) in cash and cash equivalents 294,511 Cash and cash equivalents at 26 July 2020 666,319 Cash and cash equivalents at 25 July 2021 960,830 Cash and cash equivalents consist of: Cash at bank and in hand 960,830 Cash and cash equivalents at 25 July 2021 960,830 Reconciliation of net income to net cash flow from operating activities £ £ Net income for the period 1,072,591 Adjusted for: Investment income (101,781) (Gains)/losses on investments (845,252) Increase/(decrease) in creditors (12,812) (959,845) 112,746 2021 2021 |
£ £ 1,313,688 (4,060,216) 2,966,058 122,337 (971,821) 341,867 349,452 691,319 666,319 666,319 £ £ 1,278,260 (122,337) 194,090 (36,325) 35,428 1,313,688 2020 2020 |
£ £ 1,313,688 (4,060,216) 2,966,058 122,337 (971,821) 341,867 349,452 691,319 666,319 666,319 £ £ 1,278,260 (122,337) 194,090 (36,325) 35,428 1,313,688 2020 2020 |
|---|---|---|
| 1,313,688 |
Page 8
THE ROPER FAMILY CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 JULY 2021
ACCOUNTING POLICIES
General information, scope and basis of the financial statements
The Roper Family Charitable Trust is a registered unincorporated charity, established under a trust deed, in England and Wales. The address of the principal office is given in the charity information of these financial statements and the nature of the charity’s operations and principal activities are detailed in the trustees' report.
The charity constitutes a public benefit entity as defined by FRS 102. 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Incoming resources
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
For donations to be recognised the Charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the Charity and it is probable that they will be fulfilled.
Investment income is earned through holding assets for investment purposes such as shares. It includes dividends and interest. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.
Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following expenditure headings:
-
Raising funds; these include investment management fees charged by the charity's investment managers
-
Charitable activities; these include grants to third parties and the costs of administering the charity inclusive of governance costs
Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.
Support and governance costs are those that assist the work of the charity but do not directly represent charitable activities. They are incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in the governance of the charity and primarily associated with the constitution and statutory requirements.
VAT
The charity is not registered for VAT and is unable to recover VAT incurred. On this basis costs are recorded inclusive of VAT within the SOFA.
Taxation
The Charity is an exempt Charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in sections 521 to 536 Income Tax Act 2007 (ITA 2007), as such no income tax is payable on the Charity's activities.
Page 9
THE ROPER FAMILY CHARITABLE TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 JULY 2021
ACCOUNTING POLICIES
Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Where investments are denominated in currencies other than Sterling, transactions are translated at the rate prevailing at the date of the transaction and year end values are calculated using the exchange rate prevailing at the year end.
Debtors receivable and creditors payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
Cash and cash equivalents
Cash and cash equivalents includes cash at bank and in hand and cash balances within the investment portfolio available for investment transaction purposes.
Fund accounting
Unrestricted income funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Capital (endowment) funds comprise the original gifts introduced by the settlor trustees and associated gift aid, together with the accumulated realised and unrealised surpluses arising on investments acquired with those gifts, less any donations made out of capital. The capital funds are expendable at the discretion of the trustees. Investment management charges and legal advice relating to the fund are charged against the fund. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income.
Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
Page 10
THE ROPER FAMILY CHARITABLE TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 JULY 2021
NOTES TO THE FINANCIAL STATEMENTS
1. Donations and legacies
| 1. Donations and legacies | ||||||
|---|---|---|---|---|---|---|
| Donations to trust Legacies Gift aid 2. Income from investments Income from investment assets Interest on cash deposits |
Unrestricted Funds £ - - - - Unrestricted Funds £ 101,669 112 101,781 |
Endowment Funds £ 733,741 - - 733,741 Endowment Funds £ - - - |
2021 Total Funds £ 733,741 - - 733,741 2021 Total Funds £ 101,669 112 101,781 |
Unrestricted Funds £ - - - - Unrestricted Funds £ 118,468 3,869 122,337 |
Endowment Funds £ 1,424,768 62,772 307,442 1,794,982 Endowment Funds £ - - - |
2020 Total Funds £ 1,424,768 62,772 307,442 |
| 1,794,982 | ||||||
| 2020 Total Funds £ 118,468 3,869 |
||||||
| 122,337 |
3. Expenditure on charitable activities
| Grants to institutions (see note 4) Support and governance costs Coutts management fees Legal fees Independent auditor's fee |
Unrestricted Funds £ 571,000 35,083 - 2,100 608,183 |
Endowment Funds £ - - - - - |
2021 Total Funds £ 571,000 35,083 - 2,100 608,183 |
Unrestricted Funds £ 397,700 44,749 420 2,100 444,969 |
Endowment Funds £ - - - - - |
2020 Total Funds £ 397,700 44,749 420 2,100 |
|---|---|---|---|---|---|---|
| 444,969 |
Page 11
THE ROPER FAMILY CHARITABLE TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 JULY 2021
NOTES TO THE FINANCIAL STATEMENTS
4. Grants to institutions
| Grants to institutions | ||
|---|---|---|
| Age UK Bath Bath and District Citizens Advice Bureau Bath Carnival CIC Bath City Farm 3 grants Bath Festivals Bath Gateway Out and About Bath Light Operatic Group Bath Mind Bath Mozartfest Limited Bath Operatic Dramatic Society Bath Philharmonia Orchestra Bath Area Play Project Children's Hospice South West Chimpanzees Cleveland Pools Trust Designability Developing Health & Independence Grow Yourself CIC Jamie's Farm Julian House Keynsham and District Mencap Society Leonard Cheshire Society Mentoring Plus 2 grants Mid Somerset Festival Mission Theatre Music for Miniatures Next Stage Projects Peggy Dodd Centre Percy Community Centre Prince's Trust for Highgrove 2019 Read Around Bath Royal United Hospital Bath Sporting Family Change Foundation St Barnabas Church Streats - Bath Fringe Swallow Ltd The Holburne Museum Trust Time Bank Plus University of Bath 2 grants Voices for Life 2 grants Wellow Group Riding for the Disabled Wiltshire Music Centre Writhlington Trust |
2021 Total Funds £ 12,000 5,000 10,000 50,000 60,000 2 grants 10,000 - - 10,000 - 20,000 6,000 10,000 10,000 20,000 20,000 20,000 10,000 50,000 20,000 - - 35,000 - - 4,000 12,000 - - - 6,000 10,000 - - 12,000 20,000 25,000 12,000 66,000 11,000 5,000 10,000 - 571,000 |
2020 Total Funds £ - 5,000 - - 60,000 - 8,000 15,000 25,000 5,000 40,000 - - - - - - - 50,000 10,000 5,000 5,000 - 10,000 12,000 2,000 - 10,000 10,000 5,000 6,000 7,000 6,700 1,000 - 15,000 20,000 12,000 33,000 - - 10,000 10,000 |
| 397,700 |
Page 12
THE ROPER FAMILY CHARITABLE TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 JULY 2021
NOTES TO THE FINANCIAL STATEMENTS
5. Independent auditor's remuneration
| Auditor's remuneration - audit | Unrestricted Funds £ 2,100 2,100 |
Endowment Funds £ - - |
2021 Total Funds £ 2,100 2,100 |
Unrestricted Funds £ 2,100 2,100 |
Endowment Funds £ - - |
2020 Total Funds £ 2,100 |
|---|---|---|---|---|---|---|
| 2,100 |
6. Related party transactions
Fees payable to Coutts & Co, which was a trustee of the charity to 6 April 2021, are included in note 3 above and are authorised under section 6 of the Trust Deed.
The Trust has no employees, all administration being carried out by the trustees.
Other than the fees noted above, no remuneration was paid to nor expenses paid to or on behalf of any trustee during the year under review or the comparative year.
7. Fixed asset investments - Listed
| Balance brought forward Additions Disposals at proceeds Gains/(losses) on investments Gains/(losses) on investments |
2021 £ 3,984,001 3,110,522 (3,190,506) 845,252 4,749,269 845,252 845,252 |
2021 £ 3,083,933 4,060,216 (2,966,058) (194,090) |
|---|---|---|
| 3,984,001 | ||
| (194,090) | ||
| (194,090) |
8. Creditors: amounts falling due within one year
| Accruals - Professional fees Accruals - Management fees |
2021 £ 2,100 1,622 3,722 |
2020 £ 2,100 14,434 |
|---|---|---|
| 16,534 |
9. Analysis of net assets between funds
| Fixed assets investments Net current assets |
Unrestricted Funds £ - 119,979 119,979 |
Endowment Funds £ 4,749,269 862,129 5,611,398 |
2021 Total Funds £ 4,749,269 982,108 5,731,377 |
Unrestricted Funds £ - 67,330 67,330 |
Endowment Funds £ 3,984,001 607,455 4,591,456 |
2020 Total Funds £ 3,984,001 674,785 |
|---|---|---|---|---|---|---|
| 4,658,786 |
Page 13
FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 JULY 2021
THE ROPER FAMILY CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
10. Net movement in funds
| 10. Net movement in funds | ||||||
|---|---|---|---|---|---|---|
| Endowment funds Unrestricted funds Endowment funds Unrestricted funds |
Year ended 25 July 2021 | |||||
| Total funds brought forward £ 4,591,456 67,330 4,658,786 |
Total incoming resources £ 733,741 101,781 835,522 |
Total Transfers resources between expended funds £ £ - (559,051) (608,183) 559,051 (608,183) - Year ended 25 July 2020 |
Gains/(losses) on investment assets £ 845,252 - 845,252 |
Total funds carried forward £ 5,611,398 119,979 |
||
| 5,731,377 | ||||||
| Total funds brought forward £ 3,377,158 3,368 3,380,526 |
Total incoming resources £ 1,794,982 122,337 1,917,319 |
Total resources expended £ - (444,969) (444,969) |
Transfers between funds £ (386,594) 386,594 - |
Gains/(losses) on investment assets £ (194,090) - (194,090) |
Total funds carried forward £ 4,591,456 67,330 |
|
| 4,658,786 |
The transfer from endowment to unrestricted funds was implemented to provide resources for grant awards in furtherance of the charity's objectives.
11. Financial instruments
The carrying amounts of the charity's financial instruments are as follows:
| 2021 Total Funds £ Financial assets Measured at fair value through net income/(expenditure): Fixed asset investments 4,749,269 4,749,269 The income, expense, net gains and net losses attributable to the charity's financial instruments are summarised as follows: 2020 Total Funds £ Income and expense Financial assets measured at fair value through net income/(expenditure) Investment income 101,781 Investment management fees (35,083) 66,698 Net gains and losses (including changes In fair value) Financial assets measured at fair value through net income/(expenditure) Net gains/(losses) on investments 845,252 845,252 |
2020 Total Funds £ 3,984,001 |
|---|---|
| 3,984,001 | |
| 2016 Total Funds £ 122,337 (44,749) |
|
| 77,588 | |
| (194,090) | |
| (194,090) |
Fixed asset investments are held at fair value with valuations obtained by reference to market prices from the appropriate stock exchange, bid prices and last traded prices where applicable.
Page 14