**Charity Registration No. 1128055** ## **THE SIOBHAN DOWD TRUST** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 5 APRIL 2022** ## **THE SIOBHAN DOWD TRUST** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|Anthony Bradman| |---|---| ||Lady Rachel Billington| ||Hilary Delamere| ||John Theis| ||Julia Eccleshare| ||Denise Dowd| |**Charity number**|1128055| |**Principal address**|6b Lee Terrace| ||Blackheath| ||London| ||SE3 9TX| |**Independent examiner**|A Rich| ||c/o HW Fisher LLP| ||Charted Accountants| ||Acre House| ||11-15 William Road| ||London| ||NW1 3ER| ||United Kingdom| |**Bankers**|HSBC| ||141 High Street| ||Beckenham| ||Kent| ||BR3 1BX| ## **THE SIOBHAN DOWD TRUST** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 2| |Independent examiner's report|3| |Statement of financial activities|4| |Balance sheet|5| |Notes to the financial statements|6 - 10| ## **THE SIOBHAN DOWD TRUST** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 5 APRIL 2022**_ The Trustees present their report and financial statements for the year ended 5 April 2022. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity's Deed of Trust, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2019). ## **Objectives and activities** The objective of the Trust, as set out in the Charitable Trust Deed, is for the trustees to provide financial assistance to benefit any child or children who are under the age of eighteen years and who are in financial or other need who live in England and Wales to further their education and development by assisting such child or children in relation to their reading and for any other charitable purpose. The trustees' grant making policy is generally to make donations to registered charitable organisations and schools (not individuals) which support a wide range of causes. The trustees' have complied with their duty in Section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. ## **Achievements and performance** During the year the Trust generated incoming resources of £63,825 (2021: £75,681) which enabled the charity to make multiple grants. The Trustees reviewed and accepted grant applications during the year under review. During the year the Trust made grants totalling £66,369 (2021: £24,220). ## **Financial review** The Trust received income from royalties which amounted to £63,521 (2021: £71,289). In addition, during the year the Trust received interest of £4 (2021: £17) and other income of £200 (2021 : £4,375) The Trust incurred total expenses of £83,197 (2021: £62,063), which includes grants payable of £66,369 (2021: £24,220). ## **Reserves policy** It is the policy of the Charity to maintain unrestricted funds (free reserves) at a level which covers management and administration costs and to respond to emergency applications for grants which arise from time to time. The charity does not hold any investments and only receives a minimal amount of bank interest. Grants and other expenses are met by income received from royalties, however, in situations where the income is insufficient to meet the annual expenditure, the reserves are required to make up any shortfall out of capital. The unrestricted funds of the Charity as at 5 April 2022 amounted to £113,636 (2021: £133,110). This level is deemed sufficient by the trustees to meet the above requirements. The trustees have considered the major risks to which the charity may be exposed, and are satisfied that systems are in place to mitigate exposure to these risks. ## **Structure, governance and management** The Siobhan Dowd Trust is registered with the Charity Commissioners (No 1128055) and constituted by the Will of Siobhan Dowd who died on 21 August 2007. The Trustee who have served during the year and since the year end are set out below: Anthony Bradman Lady Rachel Billington Hilary Delamere John Theis Julia Eccleshare Denise Dowd - 1 - ## **THE SIOBHAN DOWD TRUST** ## **TRUSTEES' REPORT (CONTINUED)** ## _**FOR THE YEAR ENDED 5 APRIL 2022**_ Current trustees have the power to appoint new trustees. The minimum number of trustees is three. The trustees meet to review and assess grant applications during the year. ## **Future plans** The Trustees have been very mindful in the past couple of years about declining income and are keeping a careful eye but have decided to continue giving grants at the same level while it is still affordable. The Trustees' report was approved by the Board of Trustees. John Theis .............................. **John Theis** Trustee 04 Sep 2023 Dated: ......................... - 2 - ## **THE SIOBHAN DOWD TRUST** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF THE SIOBHAN DOWD TRUST** I report to the Trustees on my examination of the financial statements of The Siobhan Dowd Trust (the Charity) for the year ended 5 April 2022. ## **Responsibilities and basis of report** As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - 1 accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or - 2 the financial statements do not accord with those records; or - 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. ## Andrew Rich A Rich c/o HW Fisher LLP Charted Accountants Acre House 11-15 William Road London NW1 3ER United Kingdom 04 Sep 2023 Dated: ......................... - 3 - ## **THE SIOBHAN DOWD TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 5 APRIL 2022**_ |||**Unrestricted**|Unrestricted| |---|---|---|---| |||**funds**|funds| |||**2022**|2021| ||**Notes**|**£**|**£**| |**Income and endowments from:**|||| |Investments|**3**|4|17| |Other income|**4**|63,721|75,664| |**Total income**||63,725|75,681| |**Expenditure on:**|||| |Charitable activities|**5**|83,197|62,063| |**Net (expenditure)/income for the year/**|||| |**Net movement in funds**||(19,472)|13,618| |Fund balances at 6 April 2021||133,108|119,490| |**Fund balances at 5 April 2022**||113,636|133,108| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 4 - ## **THE SIOBHAN DOWD TRUST** ## **BALANCE SHEET** ## _**AS AT 5 APRIL 2022**_ |**Notes**
**Current assets**
Debtors
**11**
Cash at bank and in hand
**Creditors: amounts falling due within one year**
**12**
Net current assets
**Income funds**
Unrestricted funds|**2022**
**£**
5,478
112,358
117,836
(4,200)|**£**
113,636
113,636
113,636|**2021**
**£**
5,478
130,630
136,108
(3,000)|**£**
133,108| |---|---|---|---|---| |||||133,108| |||||133,108| 04 Sep 2023 The financial statements were approved by the Trustees on ......................... John Theis .............................. John Theis **Trustee** - 5 - ## **THE SIOBHAN DOWD TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** ## _**FOR THE YEAR ENDED 5 APRIL 2022**_ ## **1 Accounting policies** ## **Charity information** The Siobhan Dowd Trust is a charitable trust. ## **1.1 Accounting convention** The accounts have been prepared in accordance with the Charity's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102. The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. ## **1.4 Incoming resources** All income is recognised once the charity has entitlement to the income, there is sufficient certainty or receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably. Income from royalties is recognised on a receivable basis. ## **1.5 Resources expended** Liabilities are recognised as expenditure once there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is accounted for an accruals basis. Grants payable comprise donations directly related to the objects of the charity. Support costs relate to expenditure incurred in dealing with the administration of the charity. Governance costs relate to expenditure incurred in dealing with constitutional and statutory requirements. Irrecoverable VAT is charged against the expenditure on which it was incurred. - 6 - ## **THE SIOBHAN DOWD TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2022**_ ## **1 Accounting policies** **(Continued)** ## **1.6 Financial instruments** The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. ## **2 Critical accounting estimates and judgements** The trustees are satisfied that there are no significant estimates or judgements in the financial statements. ## **3 Investments** ||**Unrestricted**|Unrestricted| |---|---|---| ||**funds**|funds| ||**2022**|2021| ||**£**|£| |Interest receivable|4|17| |**Other income**||| ||**Unrestricted**|Unrestricted| ||**funds**|funds| ||**2022**|2021| ||**£**|£| |Royalties|63,251|71,289| |Other income|570|1,287| |HMRC VAT repayment|-|3,088| ||63,721|75,664| ## **4 Other income** - 7 - ## **THE SIOBHAN DOWD TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 5 APRIL 2022**_ ## **5 Charitable activities** ||**Supporting**|**Supporting**| |---|---|---| ||**literary**|**literary**| ||**development**|**development**| ||**2022**|**2021**| ||**£**|**£**| |Grant funding of activities (see note 6)|66,369|24,220| |Share of support costs (see note 7)|10,744|34,079| |Share of governance costs (see note 7)|6,084|3,764| ||83,197|62,063| |**Grants payable**||| ||**Supporting**|Supporting| ||**literary**|literary| ||**development**|development| ||**2022**|2021| ||**£**|£| |Grants to institutions:||| |Blackwell UK Ltd|1,500|-| |Give a Book|18,000|-| |Jo s Bookshop|1,000|-| |Kirkless council|1,250|-| |MCO Booksellers|-|2,000| |Netley primary school|-|1,650| |Read for good|3,000|2,500| |Solent academies|2,000|-| |Ykids Ltd|10,000|-| |Other|29,619|18,070| ||66,369|24,220| ## **6 Grants payable** Other grants includes books purchases for a large number of different schools, reading groups, charities and other organisations, mostly under £1,000. - 8 - ## **THE SIOBHAN DOWD TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 5 APRIL 2022**_ ## **7 Support costs** |**Support costs**
**Governance**
**costs**
**£**
**£**
Administration fees
10,729
-
Bank charges
15
-
Sundry expenses
-
-
Independent examination
fees
-
6,084
10,744
6,084
Analysed between
Charitable activities
10,744
6,084|**2022**
Support costs
Governance
costs
**£**
£
£
10,729
33,630
-
15
26
-
-
423
-
6,084
-
3,764
16,828
34,079
3,764
16,828
34,079
3,764|2021
£
33,630
26
423
3,764| |---|---|---| |||37,843| |||37,843| ## **8 Trustees** None of the Trustees (or any persons connected with them) received any remuneration or reimbursed expenses from the Charity during the current or prior year. ## **9 Employees** There were no employees during the current or prior year |**10**
**Financial instruments**
**Carrying amount of financial liabilities**
Measured at amortised cost
**11**
**Debtors**
**Amounts falling due within one year:**
Other debtors
**12**
**Creditors: amounts falling due within one year**
Accruals
**13**
**Related party transactions**|**2022**
**£**
4,200
**2022**
**£**
5,478
**2022**
**£**
4,200|**2021**
**£**
3,000| |---|---|---| |||**2021**
**£**
5,478| |||**2021**
**£**
3,000| |||| - 9 - ## **THE SIOBHAN DOWD TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 5 APRIL 2022**_ ## **13 Related party transactions** **(Continued)** There were no related party transactions in the current or prior year - 10 - **Issuer** HW Fisher **Document generated** Fri, 4th Aug 2023 8:59:31 UTC **Document fingerprint** 1cc8717951f05bd388cbb750d9096905 ## **Parties involved with this document** **Document processed Party + Fingerprint** Mon, 4th Sep 2023 9:19:18 UTC Kate Powling - Signer (b382059f3bf85d1be54cca38bac58016) Mon, 4th Sep 2023 9:20:22 UTC Andy Rich - Signer (bc65d61837a88946d0719b176e58b0e0) **Audit history log Date Action** Thu, 21st Sep 2023 11:09:46 UTC Kate Powling viewed the envelope. (38.206.131.16) Thu, 21st Sep 2023 11:09:07 UTC Kate Powling viewed the envelope. (52.22.45.181) Thu, 21st Sep 2023 11:09:06 UTC Kate Powling viewed the envelope. (81.168.115.242) Mon, 4th Sep 2023 9:20:23 UTC Andy Rich viewed the envelope. (31.94.4.8) Mon, 4th Sep 2023 9:20:23 UTC This envelope has been signed by all parties (31.94.4.8) Mon, 4th Sep 2023 9:20:23 UTC Andy Rich signed the envelope (31.94.4.8) Mon, 4th Sep 2023 9:20:06 UTC Andy Rich viewed the envelope. (31.94.4.8) Mon, 4th Sep 2023 9:19:54 UTC Andy Rich opened the document email. (31.94.4.8) Mon, 4th Sep 2023 9:19:54 UTC Andy Rich opened the document email. (31.94.4.8) Mon, 4th Sep 2023 9:19:19 UTC Kate Powling viewed the envelope. (37.60.109.50) Mon, 4th Sep 2023 9:19:19 UTC Document emailed to arich@hwfisher.co.uk (13.40.222.75) Mon, 4th Sep 2023 9:19:19 UTC Sent the envelope to Andy Rich (arich@hwfisher.co.uk) for signing (37.60.109.50) Mon, 4th Sep 2023 9:19:18 UTC Kate Powling signed the envelope (37.60.109.50) Mon, 4th Sep 2023 9:15:41 UTC Kate Powling viewed the envelope. (93.177.73.176) Mon, 4th Sep 2023 9:14:47 UTC Kate Powling viewed the envelope. (52.6.59.185) Mon, 4th Sep 2023 9:14:41 UTC Kate Powling viewed the envelope. (37.60.109.50) Mon, 4th Sep 2023 9:14:33 UTC Kate Powling opened the document email. (66.249.93.69) Mon, 4th Sep 2023 9:13:11 UTC Kate Powling opened the document email. (66.249.93.70) Mon, 4th Sep 2023 9:12:44 UTC Kate Powling opened the document email. (130.41.187.74) Mon, 4th Sep 2023 9:12:16 UTC Kate Powling opened the document email. (130.41.187.74) Sun, 20th Aug 2023 15:37:15 UTC Sun, 20th Aug 2023 15:37:13 UTC Sun, 20th Aug 2023 15:33:06 UTC Sun, 20th Aug 2023 15:31:27 UTC Sun, 20th Aug 2023 15:31:25 UTC Sun, 20th Aug 2023 15:31:14 UTC Sun, 20th Aug 2023 15:28:12 UTC Thu, 10th Aug 2023 16:15:32 UTC Thu, 10th Aug 2023 16:15:32 UTC Fri, 4th Aug 2023 9:05:09 UTC Fri, 4th Aug 2023 9:05:07 UTC Fri, 4th Aug 2023 9:01:48 UTC Fri, 4th Aug 2023 9:01:48 UTC Fri, 4th Aug 2023 9:00:53 UTC Fri, 4th Aug 2023 8:59:31 UTC Kate Powling opened the document email. (217.155.69.235) Kate Powling opened the document email. (217.155.69.235) Kate Powling opened the document email. (217.155.69.235) Kate Powling opened the document email. (217.155.69.235) Kate Powling opened the document email. (217.155.69.235) Kate Powling opened the document email. (217.155.69.235) Kate Powling opened the document email. (217.155.69.235) Document emailed to director@siobhandowdtrust.com (3.8.204.222) Sent Kate Powling a reminder to sign the document. (185.105.75.177) Document emailed to director@siobhandowdtrust.com (35.178.193.188) Sent the envelope to Kate Powling (director@siobhandowdtrust.com) for signing (89.150.28.98) Andy Rich has been assigned to this envelope (89.150.28.98) Kate Powling has been assigned to this envelope (89.150.28.98) Document generated with fingerprint 1cc8717951f05bd388cbb750d9096905 (89.150.28.98) Envelope generated by Shafayat Khan (89.150.28.98)