REGISTERED CHARITY NUMBER: 1128462
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 30 September 2021
for
The Betty Riseley Trust
A J Bennewith FCA, FCPA, FFA, FFTA,
FIPA, DChA, FRSA
3 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU
The Betty Riseley Trust
Contents of the Financial Statements
for the Year Ended 30 September 2021
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Page |
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Report of the Trustees |
1 |
to |
2 |
Independent Examiner's Report |
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3 |
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Statement of Financial Activities |
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4 |
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Balance Sheet |
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5 |
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Notes to the Financial Statements |
6 |
to |
11 |
Detailed Statement of Financial Activities |
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12 |
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The Betty Riseley Trust
Report of the Trustees for the Year Ended 30 September 2021
The trusteespresenttheirreportwiththe financialstatementsof the charityfor the yearended30 September2021. The
trusteeshaveadoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommended Practice
applicableto charitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableinthe UK
and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
Thelongandshorttermaimsaretogivegrantstoorganisations,individualsandcharitiesinvolvedinadvancinglife and
helpingyoungpeoplethroughtheprovisionofrecreationalandleisuretimeactivities,providingsupportand activities
whichdevelopyoungpeople'sskillandcapabilitiesenablingthemtoparticipateinsocietyandmatureas responsible
individuals and advancing the education of those aged 18 and under.
ACHIEVEMENT AND PERFORMANCE
During the year the charity was able to make total grants of £36,705 (2020: £63,857) to local institutions.
The trusteesconsiderthat they have compliedwith the duty in section17(5)of the CharitiesAct 2011to have due regard
to public benefit guidance published by the Charity Commission.
FINANCIAL REVIEW
Investment policy and objectives
Investmentsareheldinshares,corporatebondsandgilt-edgedsecurities.Thecharity'sinvestmentportfolio is
maintained by Quilter Cheviot Limited.
Reserves policy
Duringtheyearthecharitymanageditsportfolioofinvestmentsandpreparedfundssothatanysuitablegrants or
sponsorship identified could be undertaken.
FUTURE PLANS
In the futurethe trusteesintendto identifygrantmakingopportunitiesanduse the fundsavailableto furtherthe charity
objectives.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
New trustees are appointed when necessary, by the existing trustees. Full training is given to all new trustees.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1128462
Principal address
Hart Brown Solicitors
Resolution House
Riverview, Walnut Tree Close
Guildford
Surrey
GU1 4UX
Page 1
The Betty Riseley Trust
Report of the Trustees
for the Year Ended 30 September 2021
Trustees
Mrs M Jack
C V Honey (resigned 29.11.21)
P A Tobias (resigned 29.11.21)
Mrs M Bainbridge
J Lamont (appointed 29.11.21)
Ms C Pearce (appointed 29.11.21)
Independent Examiner
A J Bennewith FCA, FCPA, FFA, FFTA,
FIPA, DChA, FRSA
3 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
..........................................................................
J Lamont - Trustee
Page 2
Independent Examiner's Report to the Trustees of The Betty Riseley Trust
Independent examiner's report to the trustees of The Betty Riseley Trust
IreporttothecharitytrusteesonmyexaminationoftheaccountsofTheBettyRiseleyTrust(theTrust)forthe year
ended 30 September 2021.
Responsibilities and basis of report
AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordancewith the
requirements of the Charities Act 2011 ('the Act').
I reportin respectof my examinationof theTrust'saccountscarriedoutundersection145of theActandin carrying out
my examinationI havefollowedallapplicableDirectionsgivenbytheCharityCommissionundersection145(5)(b)of the
Act.
Independent examiner's statement
I havecompletedmy examination.I confirmthatnomaterialmattershavecometo my attentioninconnectionwith the
examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 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 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 concernsand have come acrossno othermattersin connectionwith the examinationto whichattention should
be drawn in this report in order to enable a proper understanding of the accounts to be reached.
A J Bennewith FCA, FCPA, FFA, FFTA,
FIPA, DChA, FRSA
3 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU
Date: .............................................
Page 3
The Betty Riseley Trust
Statement of Financial Activities
for the Year Ended 30 September 2021
Notes
INCOME AND ENDOWMENTS FROM
Investment income
2
EXPENDITURE ON
Raising funds
3
Charitable activities
Charitable expenditure
Total
Net gains/(losses) on investments
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD |
30.9.21
Unrestricted
fund
£
54,177
28,603
48,270
76,873
274,830
252,134
2,032,033
2,284,167 |
30.9.20
Total
funds
£
48,087
20,641
71,197 |
|
|
91,838
(70,755) |
|
|
(114,506)
2,146,539 |
|
|
2,032,033 |
The notes form part of these financial statements
Page 4
The Betty Riseley Trust
Balance Sheet
30 September 2021
Notes
FIXED ASSETS
Investments
6
CURRENT ASSETS
Debtors
7
Cash at bank
CREDITORS
Amounts falling due within one year
8
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
9
Unrestricted funds
TOTAL FUNDS |
30.9.21
Unrestricted
fund
£
2,214,247
-
77,900
77,900
(7,980)
69,920
2,284,167
2,284,167
2,284,167
2,284,167 |
30.9.20
Total
funds
£
1,968,294
600
71,119 |
|
|
71,719
(7,980) |
|
|
63,739 |
|
|
2,032,033 |
|
|
2,032,033 |
|
|
2,032,033 |
|
|
2,032,033 |
The financialstatementswere approvedby the Boardof Trusteesand authorisedfor issueon .............................................
and were signed on its behalf by:
.............................................
J Lamont - Trustee
The notes form part of these financial statements
Page 5
The Betty Riseley Trust
Notes to the Financial Statements for the Year Ended 30 September 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,havebeenprepared in
accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicableto charitiespreparingtheir accountsin accordancewith the Financial Reporting
StandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January2019)',Financial Reporting
Standard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the Charities Act
2011.Thefinancialstatementshavebeenpreparedunderthehistoricalcostconvention,withtheexception of
investments which are included at market value, as modified by the revaluation of certain assets.
Income
All incomeis recognisedin the Statementof FinancialActivitiesoncethe charityhas entitlementto the funds,it is
probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethata transferofeconomicbenefitswillberequiredinsettlement and
the amountof the obligationcan be measuredreliably.Expenditureis accountedfor on an accrualsbasisand has
beenclassifiedunderheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbe directly
attributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwiththeuse of
resources.
Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedasa commitment
but not accrued as expenditure.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfundscan onlybe usedfor particularrestrictedpurposeswithinthe objectsof the charity. Restrictions
arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
INVESTMENT INCOME |
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|
|
30.9.21 |
30.9.20 |
|
£ |
£ |
Income from listed investments |
54,177 |
48,087 |
continued...
Page 6
The Betty Riseley Trust
Notes to the Financial Statements - continued for the Year Ended 30 September 2021
3. RAISING FUNDS
Investment management costs
|
30.9.21 |
30.9.20 |
|
£ |
£ |
Portfolio management |
28,603 |
20,641 |
4. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended30September2021norforthe year
ended 30 September 2020.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended30September2021norfortheyear ended
30 September 2020.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM
Investment income
EXPENDITURE ON
Raising funds
Charitable activities
Charitable expenditure
Total
Net gains/(losses) on investments
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD |
Unrestricted
fund
£
48,087
20,641
71,197 |
|
91,838
(70,755) |
|
(114,506)
2,146,539 |
|
2,032,033 |
continued...
Page 7
The Betty Riseley Trust
Notes to the Financial Statements - continued
for the Year Ended 30 September 2021
6. FIXED ASSET INVESTMENTS
FIXED ASSET INVESTMENTS |
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|
MARKET VALUE
At 1 October 2020
Additions
Disposals
Revaluations
At 30 September 2021
NET BOOK VALUE
At 30 September 2021
At 30 September 2020 |
|
Listed
investments
£
1,968,294
249,957
(278,834)
274,830
2,214,247
2,214,247
1,968,294 |
The market value of the investments held at the year-end is represented by: |
|
|
|
|
|
|
30.9.21 |
30.9.20
£
1,638,730
329,564
1,968,294 |
|
£ |
|
|
|
|
Investment assets in the UK |
1,031,179 |
|
Investment assets outside the UK |
1,183,068 |
|
|
|
|
|
2,214,247 |
|
|
|
|
All investments are listed on a recognised stock exchange.
Cost or valuation at 30 September 2021 is represented by:
|
|
Listed |
|
|
investments |
|
|
£ |
Valuation in |
2021 |
2,214,247 |
Ifthefixedassetinvestmentshadnotbeenrevaluedtheywouldhavebeenincludedatthefollowing historical
cost:
|
30.9.21 |
30.9.20 |
|
£ |
£ |
Cost |
1,691,018 |
1,636,543 |
The fixed asset investments were valued on an open market basis on 30 September 2021 by Quilter Cheviot.
continued...
Page 8
The Betty Riseley Trust
Notes to the Financial Statements - continued for the Year Ended 30 September 2021
7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
8.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
9.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
54,177
TOTAL FUNDS
54,177
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS |
At
1.10.20
£
2,032,033
2,032,033
Resources
expended
£
(76,873)
(76,873)
At
1.10.19
£
2,146,539
2,146,539 |
|
30.9.21
£
-
30.9.21
£
7,980
Net
movement
in funds
£
252,134
252,134
Gains and
losses
£
274,830
274,830
Net
movement
in funds
£
(114,506)
(114,506) |
30.9.20
£
600
30.9.20
£
7,980
At
30.9.21
£
2,284,167
2,284,167
Movement
in funds
£
252,134
252,134
At
30.9.20
£
2,032,033
2,032,033 |
|
|
|
|
|
|
|
|
|
|
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|
|
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|
continued...
Page 9
The Betty Riseley Trust
Notes to the Financial Statements - continued for the Year Ended 30 September 2021
9. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
48,087
(91,838)
TOTAL FUNDS
48,087
(91,838)
A current year 12 months and prior year 12 months combined position is as follows:
At
1.10.19
£
Unrestricted funds
General fund
2,146,539
TOTAL FUNDS
2,146,539 |
Gains and
losses
£
(70,755)
(70,755)
Net
movement
in funds
£
137,628
137,628 |
Movement
in funds
£
(114,506)
(114,506)
At
30.9.21
£
2,284,167
2,284,167 |
|
|
|
A currentyear12 monthsandprioryear12 monthscombinednetmovementin funds,includedin theabove are
as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
resources
£
102,264
102,264 |
Resources
expended
£
(168,711)
(168,711) |
Gains and
Movement
losses
in funds
£
£
204,075
137,628
204,075
137,628 |
|
|
|
|
continued...
Page 10
The Betty Riseley Trust
Notes to the Financial Statements - continued for the Year Ended 30 September 2021
10. RELATED PARTY DISCLOSURES
One of the Trustees of the Betty Riseley Trust, Mr J Lamont, is a partner of Hart Brown Solicitors.
Duringthe year ended30 September2021The BettyRiseleyTrustpaid legalfees of £7,800(2020:£3,900)to Hart
Brown Solicitors. The fees are calculated on an arms-length basis.
Page 11
The Betty Riseley Trust
INCOME AND ENDOWMENTS
Investment income
Income from listed investments
Total incoming resources
EXPENDITURE
Investment management costs
Portfolio management
Charitable activities
Grants to institutions
Support costs
Management
Insurance
Governance costs
Accountancy
Legal fees
Total resources expended
Net expenditure |
Detailed Statement of Financial Activities
for the Year Ended 30 September 2021
30.9.21
30.9.20
£
£
54,177
48,087
54,177
48,087
28,603
20,641
36,705
63,857
1,725
1,400
2,040
2,040
7,800
3,900
9,840
5,940
76,873
91,838
(22,696)
(43,751) |
Detailed Statement of Financial Activities
for the Year Ended 30 September 2021
30.9.21
30.9.20
£
£
54,177
48,087
54,177
48,087
28,603
20,641
36,705
63,857
1,725
1,400
2,040
2,040
7,800
3,900
9,840
5,940
76,873
91,838
(22,696)
(43,751) |
|
|
|
|
|
48,087
20,641
63,857
1,400
2,040
3,900 |
|
|
5,940 |
|
|
91,838 |
|
|
(43,751) |
This page does not form part of the statutory financial statements
Page 12