Charity no. 1122811 THE RAY HARRIS CHARITABLE TRUST REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024
Tho Ray Harrls Charltable Trust Reference and admlnlstratlve detalls for the year ended 31st March 2024 Charlty number 1122811 Prlnclpal offace 2 Queen Square Bath BA12HQ Trustees The trustees are who served during the year and up to the date of this report were as follows: J J Thrlng, DL Ichalrman C I W Hignett J M Layton AMPitt Secretary Mrs N Fox Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent, ME19 4TA Sollcltors Thrings LLP 2 Queen Square Bath BA12HQ Investment Managers Rathbone Investment Management Ltd 10 Queen Square Bristol BS14NT Independent Examlner A Jordan FCA Haines Watts Chartered Accountants Bath House Bath Street Brlstol B516HL
The Ray Harrls Charltable Trust Report of the Trustees for the year ended 31st March 2024 The Trustees present their report with the f7nancial statements of the charity for the year ended 31 st IAarch Z024. The Trustees have adopted the provlslon5 of Accountlng and Reporting by Charltles: Statement of Recomrnended Practlce applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republlc of Ireland (FRS 1021 (effectlve 1 January 2019). Structure, governance and management The Ray Harris Charltable Trust was constltuted under a trust deed dated 14 November 2007 and Is a reglstered charlty, number 1122811. The Trust does not actively fundra15e and seeks to contlnue the charltable work as deslred by the Trustees through the Investment of Its exlstlng resources. The Trustees who have served throughoijt the year and slnce the year end are set out on page 1. Trustees are appointed by the board of Trustees and may senie wlthout limitation other than as Imposed by law. New Trustees are Inducted by the exlstlng Trustees and the procedure Includes Impartlng knowledge of the hlstory of the charlty, Its constltutlon Includlng an understandlng of Its trust deed and other deeds and documents, the charltls objects and the Trustees. current pollcles. The Trustees meet twlce per annum, and the day to day admlnlstratlon of the charlty Is delegated to the Secretary. All Trustees glve of thelr tlme freely and no trustee remuneratlon was pald In the year, Detalls of any trustee expenses and related party transactlons are dlsclosed wlthln the notes to the flnanclal statements. Trustee5 are requlred to dlsclose all relevant Interests and reglster them wlth the Secretary and, In accordance wlth the Trust's pollcy, withdraw from declslons where a confllct of Interest arlses. Current related party transactlons are dlsclosed In Note 7 to the accounts. The Trustees have consldered the major rlsks whlch the charlty faces and conflrm that systems have been establlshed to manage those rlsks. The Trustees conslder that the varlablllty of Investment return on the portfollo constltutes the charltsls major flnanclal rlsk and volatlllty In the global stock market has demonstrated thls over recent years. However, the Trustees regularly revlew the performance of the portfollo and that of the Investment manager to ensure that the total return of the portfollo Is In Ilne wlth comparable Indice5. Objectlves and actlvltles The objects of the charlty are to pay or apply the Income and capltal of the trust fund to such charitable organ15atlon5 or for such other general charltable purposes as the Trustees In thelr dlscretlon thlnk fit. The Trustees conflrm that they have referred to the guldance contalned In the Charlty Commlsslon's general guldance on publlc beneflt when revlewlng the charIt$ alms and objectlves and In plannlng future actlvltles and settlng grant maklng pollcy for the year. The charlty carrles out Its objects by Invltlng appllcatlons for fundlng from both Indlvlduals and charltable organlsatlons. Support Is focussed on West Wlltshlre with partlcular emphasis on Trowbrldge, North Wiltshire south of the M4, and the Bath area. That objective is met by maklng grants to a range of charities in the target area covering a wide spectrum of charitable cause5 in the fields of the arts, educatlon, mediclne and mental health, youth organlsatlons and projects, social welfare and conservation. Additionally the Trustees make grants to individuals within the target area, supporting education, aid for the disabled and soclal welfare.
Th• Ray Harrls Charltabl• Trust Report of the Trustees for the year ended 31 st March 2024 The Trustees were pleased to support charltable In5tltutlon5 and Indlvlduals durlng the year In Ilne wlth the charltys objectlves. Achlevements and performance There are no restrlctlons on the charity's power to invest. The investment strategy is set by the Trustees for a perlod of three years and takes account of recent demand for funds and the quallty of the grant application5. The Trustees consfder the Income requlrements, capltal grant fundfng requlrements, the rlsk proflle and the Investment manager's vlew of the market prospects in the medlum tenn. Thls strategy Is set wlthln an overall pollcy whlch states that the trust fund Is to be Invested to obtain an annual increase In the value of the fund whlch, as a mlnlmum, matches Inflatlon, and to produce a reasonable Income yleld In Ilne wlth the yleld on the FfsE-100 Share Index. The Trustees revlew thelr Investment strategy wlth thelr Investment manager annually, and also recelve Interlm reports. Durlng the perlod the charltls Investments Increased In value by £181,109 [2023 decreased by 45,805). Flnanclal revlew The trust recelves Income from It5 Investments. The results for the year are shown on page 5. The Trustees conslder the results to be satlsfactory glven the current market condltlons. The trust fund Is entlrely unre5trlcted, and produced an Income of £75,179 [2023 £70,760]. Grants and related management expenses funded out of both capltal and Income totalled £71,930 [2023 £72,143]. The Trustees ensure that thelr grant maklng pollcy accords wlth thelr avallable resources each year and as they can make dlstrlbutlons from both capital and income, the Trustees conslder that there Is no need for a speclflc reserve. Plans for future perlods The Trustees conslder that the trust fund Is sufflclent to ensure the future of thls trust, and for It to carry out Its charltable objectlves, for the foreseeable future. Independent Examlner The Trustees have asked A Jordan FCA of Halnes Watt5, Chartered Accountants, to undertake the Independent examlnatlon of the Trust. Approved by the Trustees and slgned on thelr behalf by: 2024 Date Jererny John Thrlng Chalrman
Independent examinerfs report to the Trustees of The Ray Harris Charitable Trust I report on the accounts of the Trust for the year ended 31 March 2024, which are set out on pages 5 to 13. Responsfbllltles and basls of report 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, l. I report In respect of my examination of the charity's accounts carried out under sectlon 145 of the Act and In carrying out my examinatlon I have followed all the appllcable Dlrections given by the Charity Commission under section 145(5)(b) of the Act. Independent examlner's statement I have completed my examination. I confirm that no material matters have come to my attention In connection with the examination 87vln8 me cause to believe that in any material respect: 1. accountlng records were not kept In respect of the charlty as requlred by sectlon 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the forni and content of accounts set out in the Charltles (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair vievl which Is not a matter con51dered as part of an Independent examinatlon. I have no concerns and have come across no other matters in connection with this examination to which your attention should be drawn in this report to enable a proper understanding of the accounts to be reached. .2024 Andrew Jordan FCA for and on behalf of Halnes Watts Chartered Accountants Bath House Bath Street Brlstol BS16HL
The Ray Harrls Charltable Trust Staternent of flnanclal actlvltles for the year ended 31 st March 2024 Note 2024 2023 Income from: Investments 75,179 70,760 Total Income 75,179 70,760 Expendlture on: Raising funds: Investment management Charitable activities 8,587 63,343 8,784 63,359 Total expendlture 71,930 72,143 Net gainslllosses) on investments 181,109 (245,805 Net Incom•l(expendlturel & net movement In funds 184,358 1247,188) Reconclllatlon of funds: Total funds brought foTrvard 2,307,415 2,554,603 Total funds carrled forward 2,491,773 2,307,415 All of the above results are derfyed f rom contlnulnl actlvltles. There were no other recognlsed galns or losse5 other than those stated above. All funds In the current and prlor year are unre5trkted.
The Ray Harrls Charltabla Trust Balance sheet as at 31st March 2024 2024 2023 Note Fixed Assets Investments 2,231,333 2,110,568 Current Assets Cash at bank and in hand 263,152 203,707 Current Llabllftles Creditors: amounts falling due within one year 2,712 6,860 Net Current assets 260,440 196,847 Total assets less current liabilities 2,491,773 2,307,415 Not assets 2,491,773 2,307,415 Funds General funds 2,491,773 2,307,415 Total charlty funds 2,491,773 2,307.415 Approved by Jeremy J Thrlng on behalf of the Trustees: Date 2024 Jeremy J Thring Trustee
The Ray Harrls Charftable Trust Note5 to the financial 5tatement5 for the year ended 31 st March 2024 1 ACCOUNTING POLICIES Basls of preparlng the flnancfial statements The financial statements of the charlty, whlch Is a publlc beneflt entity under FRS 102, have been prepared In accordance wlth the Charities SORP (FRS 102) 'Accounting and Reportlng by Charltles: Statement of Recommended Practice appllcable to charltles preparlng thelr accounts In accordance with the Flnanclal Reportlng Standard appllcable In the UK and Republlc of Ireland (FRS 102) (effectlve 1 January 2019)., Financlal Reportlng Standard 102 The Financial Reportlng Standard applicable In the UK and Republlc of Ireland, and the Charities Act 2011. The financlal statements have been prepared under the hlstorlcal cost conventlon except for the Investments whlch are stated at fair value. The flnanclal statements have been prepared to glve a 'true and falr, vlew and have departed from the Charltles (Accounts and Report5) Regulatlons 2008 only to the extent requlred to provlde a 'true and falr view.. Thls departure has Involved followlng Accountlng and Reportlng by Charltles preparlng thelr accounts In accordance wlth the Flnanclal Reportlng Standard appllcable In the UK and Republlc of Ireland {FRS 102) Issued on 16 JULY 2014 rather than the Accountlng and Reportlng by Charitles: Statement of Recommended Practlce effectlve from 1 Aprll 2015 whlch has slnce been wlthdrawn. The flnanclal Statements are prepared In sterllng whlch Is the functlonal currency of the charlty and are rounded to the nearest £. The flnanclal statements have been prepared on the assumptlon that the charlty Is able to contlnue as a golng concern, whlch the trustees conslder approprlate havlng regard to the current level of unrestrlcted reserve5. There are no materlal uncertalntles about the Charltls ablllty to contlnue as a golng concern. Income All Income Is recognlsed In the Statement of Flnanclal Actlvltles once the charlty has entltlement to the funds, It Is probable that the Income wlll be recelved and the amount can be MeaSud rellably. Expendlture Llabllltles are recognlsed as expendlture as soon a5 there Is a legal or constructlve obllgatlon commlttlnq the charlty to that expendlture, It Is probable that a transfer of economlc beneflts wlll be required In settlement and the amount of the obligatlon can be measured reliably. Expenditure 15 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attrlbuted to partlcular headlngs they have been allocated to activities on a basls conslstent wlth the use of rey)urces. Grants payable are charged In the year when the offer Is conveyed to the reclplent except In those cases where the offer Is condltlonal, such as grants belng recognlsed as expendlture when the conditlons attaching are fulfllled. Irrecoverable VAT Is charged as a cost against the activity for whlch the expenditure was incurred.
The Ray Harrls Charltable Trust Notes to the flnandal statements for the year ended 31st March 2024 Investrnents Listed Investments held at the year end are valued at falr value belng current market value at that date. Investment income from divldends is included In incoming resources while realised and unrealised losses and gains on investments are shown separately on the Statement of Financlal Actlvltles (SOFA). Reallsed galns and losses are calculated on Investment d15P05als durlng the year as the difference between the opening market value and the proceeds received on sale. Unrealised gains and losses are calculated on Investment holdings at the year end as the difference between the closing market value and the openlng market value or purchase value durlng the year. Debtors Debtors are recognlsed at the settlement amount due. Prepayments are valued at the amount prepald. Credltors Credltors and provlslons are recognised where the charlty has a present obllgatlon resultlng from a past event that wlll probably result In the transfer of funds to a thlrd party and the amount due to settle the obllgatlon can be measured or estimated rellably. Creditors and provlslons are normally recognlsed at thelr settlement amount after allowlng for any trade dlscounts due. Taxatlon The charlty Is exempt from tax on Its charltable actlvltles. Fund accountlng Unrestrlcted funds can be used In accordance wlth the charltable objects at the dlscretlon of the trustees. Restrlcted funds can only be used for partlcular restrlcted purposes within the objects of the charlty. Restrlctlon5 ar15e when speclfled by the donor or when funds are ralsed for partlcular restrlcted purposes. Flnanclal Instruments The charlty only has flnancial assets and Ilabllltles of a klnd that quallfy as baslc flnanclal Instruments. Basic financial instruments are Inltially recognlsed at transactlon value and subsequently measured at thelr settlement value. Short term Ilqutd Investments and cash Cash at bank Is held to meet short-term cash commltments as they fall due rather than for Investment purposes and Includes all cash equivalents held In the form of short-term hlghly Ilquld Investments. Cash equlvalents are short.term, highly Ilquld Investments that are readily convertlble to known amounts of cash and that are subject to an Inslgnlflcant rlsk of changes in value.
The Ray Harrls Charltable Trust Notes to the flnancial statements for the year ended 31 st March 2024 2 Investment fncome 2024 2023 Investment income 69,404 68,030 Interest 5,775 2,730 Total fncome from Investments 75,179 70,760
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The Ray Harrls Charltable Trust Notes to the flnanclal staternents for the year ended 31st March 2024 4 Grant5 payable 2024 2023 No. Amount No. Amount Grants to individuals" Grants to charitable institutions Grants payable from capital 3,000 33,150 15,000 4,600 31,575 15,0(X) 37 28 38 51,150 30 51,175 Bowyers Senior Citizens Club members Grants payable to Instftutlons 2024 2023 No. No, Age UK Wiltshire All Saints Church Bath City Farm Bath Inst. For Rheumatic Diseases Bath Philharmonia Bath Rugby Foundation Brainwave Bristol Children's Help Deslgnability Dressability Fareshare Southwest Genesis Great Western Air Ambulance Happy Days Help Counselling Services Holburne Museum If Opera Jubllee Salling Trust MIND Wiltshire OPA Cancer Charity Police Community Trust Prospect Hospice React Revitalise RICE RUHX 1,OCKI 1,000 1,000 2,500 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 5,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,0 2,000 1,000 Forwaid 14 15,OlXI 14 19,500 11
The Ray Harrls Charftable Trust Notes to the finandal statements for the year ended 31 st March 2024 Grants payable to Instltution5 2024 2023 No. No. ForvRrd 14 15,000 14 19,500 Salisbury Cathedral Sixty Plus Social Afternoons Smallpeice Trust Soundabout Swindon Carers Centre Teen Talk Theatre Royal, Bath The OPA Trustees of the Saxon Church Voices for Life Wiltshlre Air Ambulance Wiltshire Live Music Centre Wlltshlre Si8ht Youth Adventure Trust 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 3,075 2,000 3,000 1,000 1,000 Other Instltutlonal grants (under £1,000) 13 6,150 4,000 37 33,150 28 31,575 Grants payable from capltal 2024 2023 Young Carers, Development Twst 15,01)0 15,000 15,000 15,000 5 Investments - pooled Investment vehlcles 20Z4 2023 Market value at 1 st April 2023 Additions Disposal proceeds Revaluation5 2,110,568 455,586 (515,930) 181,109 2,406,337 (49,964 (245,805) Market value at 31 st March 2024 2,231,333 2,110,568 Historical cost: At 31 st March 2024 1,389,489 1,283,103 12
The Ray Harils Charltable Trust Notes to the flnandal statements for the year ended 31 st March 2024 6 Creditors . amounts due wlthin 1 year 2024 2023 Accruals 2,712 6,860 7 Related party transactlons JJ Thring is a trustee of The Ray Harris Charitable Trust but also on the staff list (as a consultant for Thrings LLP. Thrings carry out all of the administration and accounts preparation for the trust. The fee charged for this seryice in 2024 was £10,440 including VAT (2023: £10,440). 8 Trustees remuneratlon and recelpts There were no trustees, remuneration or other benefits for the year ended 31 March 2024 or for the year ended 31 March 2023. There were no trustees, expenses paid for the year ended 31 March 2024 or for the year ended 31 March 2023. 13