Charity Details
Charity Name Valerie Taylor Trust
Charity Number 1122245
Correspondence Postal Address
4 Wilberforce Road, Coxheath, Maidstone, Kent, ME17 4HA
Correspondence Email Address admin@valerietaylortrust.org
Annual Report 2023 – 2024
Structure, Governance and Management
The Valerie Taylor Trust is governed by a constitution adopted on 5 September 2007 as amended on 16 December 2007.
The charity is managed and administered by a Management Committee. The Management Committee for the year 2023-2024 consisted of elected members who are also the trustees of the charity.
The chart below indicates the organisational structure of the Valerie Taylor Trust:
Website Address
www.valerietaylortrust.org
Trustees
Mr Mokhtar Hussain Mr Sayadul Khaled Mr Zahirul Haque Ms Aysha Lucky Akther Dr Mohamed Sakel Mrs Margaret Hakim Mr Benjamin Clackson Mr Jahangir Alam Mr Glen McGhee Ms Helen Mortimer
Professional Advisors Banker: HSBC 110 High Street, Godalming, Surrey, GU7 1DP Independent Examiner: Mohammad Masud Khan 12 Ripon Street, Leicester LE2 1LW ~~—~~ | 2023-24 was a quieter year for the Trust after the intense activities associated with our Awareness-raising project.
The hosting and maintenance of our website were successfully transferred to a separate agency, which will provide a stable basis for further development.
Trustees and other Supporters visited and worked at various CRP Centres, helping the Trust to keep in touch with CRP’s work and Valerie Taylor herself.
Recruitment of the Management Committee
At the 2023 annual general meeting, three members of the Management Committee stood down. Two of these were willing to be re-elected, but Mohamed Rashid stood down. However, a valid nomination was received from Aysha Lucky Akther and accordingly these three were elected.
At the 2024 annual general meeting one third of the members of the Management Committee will again stand down but will be eligible for re-election. The Management Committee may also appoint up to three co-opted members.
All members of the Valerie Taylor Trust are eligible to become members of the Management Committee. To become a member of the Management Committee, a member of the Valerie Taylor Trust needs to be nominated by another member of the Valerie Taylor Trust and stand for election at the next Annual General Meeting.
Our Objects
The objects of the Valerie Taylor Trust are:
(a) To assist in the treatment, care and rehabilitation of disabled people in Bangladesh, in particular but not exclusively by promoting reintegration into the community, raising awareness of disability issues, and educating health care workers.
(b) To relieve poverty in Bangladesh.
The Trustees have decided that at the moment the best way of fulfilling these aims is by making grants to the Centre for the Rehabilitation of the Paralysed (CRP).
Total income = £99,731
Financial Review
Funds are raised by donations, membership support, fundraising events, trusts and companies. Expenditure is aimed to promote all these forms of giving, such as providing access on the Just Giving website, Gift Aid envelopes, leaflets and mailing campaigns.
During the period of this report, the total income was £99,731. This consisted of donations and subscriptions totalling £80,009, reclaimed tax as Gift Aid of £9,083, £1,936 from other activities, and £7,831 from companies. Income from companies was much less than in recent years because no funds were received from Primark during the year. Expenses related to supporting this giving were £3,098. Because of the end of the Awareness Project, Donations and Subscriptions as well as Expenses were less than last year. Net Income fell from £167,420 to £96,633.
Grants made to support CRP were £85,000, and the balance of cash funds remaining was £7,938. The trustees consider that the simplicity of the trust’s finances means that they do not require a detailed reserve policy. However, the Trust ensures that it always has enough cash on hand to cover its expected expenses for the next four months. The Trust does not currently have an investment policy because all receipts, net of expenses, are sent to CRP. The trustees have reviewed the relevant legislation and believe that the trust’s accounts are exempt from the requirement from an annual audit, and that an independent examination suffices.
CRP MOVES TOWARDS SELF-FINANCING
One concern about developments financed partly by foreign donations is that they can lead to excessive and long-term dependence on those donations. So it is a good thing that CRP is steadily becoming more self-financing. For instance in 2017-2018, only 42% of its income came from fees charged to patients and students, and 7% of its income still came from foreign donations. But 5 years later in 2022-2023 these fees had risen to 56% of income, while foreign donations were only 3% of income.
This is not to say that these foreign contributions are no longer needed. There are still some patients who cannot afford to meet the full costs of their treatment and rehabilitation, particularly many of those with spinal cord injuries, and the money we raise here helps CRP to cover those costs. But it does show that overall CRP is becoming less dependent on foreign donations than it once was, and this makes its future more secure.
This year the Valerie Taylor Trust has an achievement of its own to celebrate. Since its inception in 2007 it has now channeled £3m to CRP. While a large part of that has come from individual supporters, the Trust has also enabled other Trusts and Corporations, including Primark, Tesco, and Marks and Spencer, to make transfers to CRP through us. This support has been a significant factor in enabling CRP to reach the more secure position it now has, with able and committed Bangladeshi management. The dark days of 2006-7 when FCRP, the charity that preceded us, withdrew support first from Valerie Taylor herself and then from CRP, now seem a distant memory.
CRP celebrated Valerie Taylor’s 80[th] birthday this year. Thankfully she remains in good health, but it is good that CRP’s future is no longer as dependent on her effort as it once was.
In view of its grants to CRP, VTT Trustees consider they have complied with their duty under section 4 of the Charities Act 2006 concerning public benefit, primarily the advancement of health and the relief of those in need by reason of disability.
Activities in UK
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Brian Woodgate's church in Marden adopted CRP/VTT as its charity of the month for June. Fundraising events with Valerie there and in Boughton Monchelsea raised £1,624.
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In July Chef Abul hosted our first fundraising event in North Was at his Abul’s Spice restaurant in Corwen. A buffet meal entertained by dancers enabled 50 people to hear from Valerie about CRP’s work and raised £763.
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A fundraising meal hosted by Akthoraz Miah at his Radhuni Lounge in Princes Risborough and addressed by Valerie and Mokhtar Hussain raised £420 from about 40 supporters.
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Ruby and Naheen held a fundraising and awareness event in the garden of their London home for friends, family and neighbours. Margaret Hakim talked about CRP and Valerie Taylor’s journey. Some of the guests were unaware of CRP and amazed by CRP’s contribution to society. Everyone enjoyed the summer afternoon and the varieties of food, raising £450.
Visits to CRP
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Glen McGhee, an orthotist and our Scottish Trustee, worked with staff at CRP-Savar for 6 weeks in the Prosthetics and Orthotics Department. He also helped in satellite clinics which are organized every month across Bangladesh. Two of these were at CRP-Sylhet, fitting over 30 people with orthotic and prosthetic devices. One was South of Sylhet, fitting 20 patients identified by other charities with specialised wheelchairs, standing frames and Ankle foot orthotics.
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Janet Ivin and John Carter worked on Appropriate Paperbased Technology at CRP and donated supplies.
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Mokhtar Hussain visited CRP Gobindapur and the newly built centre at Moulvibazar at the end of a long stay.
Valerie Taylor Trust
Financial Statement for 2023-24
| Income & Expenditure | 2023-24 | 2022-23 | 2021-22 | 2020-21 | 2019-20 |
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Income | |||||
| Donations and Subscriptions | |||||
| Restricted Funds | 6,678 | 9,833 | 11,771 | 3,720 | 44,805 |
| Unrestricted Funds | 73,331 | 90,934 | 59,605 | 89,742 | 216,582 |
| Tax refund - Gift Aid | 9,083 | 12,762 | 7,668 | 7,581 | 8,189 |
| Other Charitable Activity (Unrestricted Funds) | |||||
| Sales of donated items | 274 | 180 | 219 | 529 | 243 |
| Fundraising events | 1,662 | 1,752 | 1,416 | 0 | 747 |
| Corporate Donations | |||||
| Restricted Funds | 3,231 | 73,967 | 73,983 | 74,154 | 80,854 |
| Unrestricted Funds | 4,600 | 8,500 | 2,850 | 2,000 | 4,000 |
| Bank interest | 872 | 115 | 1 | 0 | 176 |
| Total Income | 99,731 | 198,043 | 157,513 | 177,726 | 355,596 |
| Expenditure | |||||
| Printing & Stationery | 789 | 297 | 1,341 | 554 | 819 |
| Postage | 193 | 91 | 194 | 82 | 102 |
| Meetings | 867 | 1,235 | 766 | 193 | 813 |
| Bank charges and Forex | -7,261 | 7,823 | 239 | 60 | 100 |
| VTT Web site | 3,658 | 1,546 | 120 | 60 | 161 |
| VTT Awareness Project | 3,200 | 17,626 | 9,704 | 0 | 0 |
| Fundraising | 851 | 1,171 | 501 | 406 | 380 |
| Other | 801 | 834 | 350 | 250 | 250 |
| Total Expenditure | 3,098 | 30,623 | 13,215 | 1,605 | 2,626 |
| Net Income | 96,633 | 167,420 | 144,298 | 176,121 | 352,971 |
| Grants Made | |||||
| Indirect support to CRP | |||||
| CRP website | 0 | 0 | 0 | 0 | 150 |
| Other payments on behalf of CRP | 0 | 0 | 12,000 | 0 | 0 |
| Direct transfer of funds to CRP | 85,000 | 182,000 | 133,000 | 167,000 | 569,000 |
| Total Support to CRP | 85,000 | 182,000 | 145,000 | 167,000 | 569,150 |
Balance
| Balance | |||||
|---|---|---|---|---|---|
| Payments due | -350 | -6,550 | -2,560 | -250 | -250 |
| Cash - Restricted Funds | 239 | 0 | 75 | 0 | 65 |
| Cash - Unrestricted Funds | 7,699 | 9,528 | 13,733 | 12,325 | 2,567 |
| Gift Aid refund due from HMRC | 7,500 | 8,034 | 6,779 | 6,654 | 7,225 |
| Bank Charges and Forex exchange | 0 | -7,566 | |||
| Other | -17 | -8 | -9 | -8 | -8 |
| Total Funds to carry forward | 15,072 | 3,439 | 18,018 | 18,720 | 9,600 |
Notes
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1 The accounts are prepared on a going concern basis
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2 Tax refund includes £1.5k from Just Giving (gross of costs)
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3 Sales includes cards, calendars, books and DVDs
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4 Restricted Funds may only be spent on specific agreed objectives. RF accounted for 11% of Income in 2023/24, 43% in 2022/23, 55% in 2021/22, 44% in 2020/21, 34% in 2019/20
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5 All Gift Aid refunds treated as Unrestricted
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6 Interest received with Gift Aid treated as Bank Interest
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7 Assumes £350 for independent examiner
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8 Unrestricted funds (2023/24) included £2k from MAITS, £5.8k from Luis Antonio,£2.5k from Scott Bader Company, £6.6k from Tamra Enbom.
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9 Corporate Restricted funds (2023/24) included £3k from Tesco and Other Restricted fund £3k in relation to Memory of Dr B Whitty and £2k in relation to JF Course fees.
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10 New cost stream : VTT Awareness project costs (Professional fees) mainly in relation to engaging British Bangladeshi community.
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11 Bank charges and Forex related to transfer funds to CRP Including £7k Forex charge refunds (Also we received £240 interest)
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12 Total expenditure is 3% this year compare to 18% last year and 9% 2021/22.
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13 No funds received from Primark during the year.
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of ThE VALEQIE ThYLbl TRvsr On accounts for the year ended Charity no (if any) IizIZ4 Set out on pages ATFhLHED { J fAloE PLQI h114L IreiiTreinbtsK Iij i. ILlJde the Odge i)uirbers ol additional sheLlsl I report to the trustees on my examination of the accounts of the above charity ("the Trust") for the year ended O 5. O 4 g 019 Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation basis of report of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act"). I report in respect of my examination of the Trust's 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 section 145{5)(b) of the Act. I have cornpleted my examination. I confirm that no material matters have come to my attention (other than that disclosed below ") in connection with the examination which gives me cause to believe that in, any material respect.. accounting records were not kept in accordance with section 130 of the Act or the accounts do not accord with the accounting records Independent examiner's statement I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Please delete the words in the brackets rf they do not apply. Signed: Date: 311o712dZ Name: Relevant professional qualification{s) or body (if any): TH& ssD OF IE) c FE L4 W46Ert L)P hEI) Ilitoghfw i ( FQQAJ I i ei SfRSEr Address: LEI IL IER October 2018
Section B Disclosure Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners). Give here brief details of any items that the examiner wishes to disclose. r fvPPLIUt6LE IER October 2018