REGISTERED CHARITY NUMBER: 1128462
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 30 September 2022
for
The Betty Riseley Trust
Bennewith 2018 Limited
t/a A J Bennewith & Co
3 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU
The Betty Riseley Trust
Contents of the Financial Statements
for the Year Ended 30 September 2022
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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 2022
The trusteespresenttheirreportwiththe financialstatementsof the charityfor the yearended30 September2022. 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 £15,046 (2021: £36,705) 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 2022
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
Bennewith 2018 Limited
t/a A J Bennewith & Co
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 2022.
Responsibilities and basis of report
AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordancewith the
requirements of the Charities Act 2011 ('the Act').
I reportin respectof my examinationof the Trust'saccountscarriedout underSection145of the Act andin carrying out
my examinationI havefollowedallapplicableDirectionsgivenby theCharityCommissionunderSection145(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
The Institute of Chartered Accountants in England and Wales
Bennewith 2018 Limited
t/a A J Bennewith & Co
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 2022
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 |
30.9.22
Unrestricted
fund
£
53,322
29,732
31,105
60,837
(245,199)
(252,714)
2,284,167
2,031,453 |
30.9.21
Total
funds
£
54,177 |
|
|
28,603
48,270 |
|
|
76,873 |
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|
274,830 |
|
|
252,134
2,032,033 |
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|
2,284,167 |
The notes form part of these financial statements
Page 4
The Betty Riseley Trust
Balance Sheet
30 September 2022
Notes
FIXED ASSETS
Investments
6
CURRENT ASSETS
Cash at bank
CREDITORS
Amounts falling due within one year
7
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
8
Unrestricted funds
TOTAL FUNDS |
30.9.22
Unrestricted
fund
£
1,902,289
141,164
(12,000)
129,164
2,031,453
2,031,453
2,031,453
2,031,453 |
30.9.21
Total
funds
£
2,214,247
77,900
(7,980) |
|
|
69,920 |
|
|
2,284,167 |
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|
2,284,167 |
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2,284,167 |
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|
2,284,167 |
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 2022
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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|
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30.9.22 |
30.9.21 |
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£ |
£ |
Income from listed investments |
53,322 |
54,177 |
continued...
Page 6
The Betty Riseley Trust
Notes to the Financial Statements - continued for the Year Ended 30 September 2022
3. RAISING FUNDS
Investment management costs
Investment management costs |
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|
30.9.22 |
30.9.21 |
|
£ |
£ |
Portfolio management |
29,732 |
28,603 |
4. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended30September2022norforthe year
ended 30 September 2021.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended30September2022norfortheyear ended
30 September 2021.
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 on investments
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD |
Unrestricted
fund
£
54,177 |
|
28,603
48,270 |
|
76,873 |
|
274,830 |
|
252,134
2,032,033 |
|
2,284,167 |
continued...
Page 7
The Betty Riseley Trust
Notes to the Financial Statements - continued
for the Year Ended 30 September 2022
6. FIXED ASSET INVESTMENTS
FIXED ASSET INVESTMENTS |
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MARKET VALUE
At 1 October 2021
Additions
Disposals
Revaluations
At 30 September 2022
NET BOOK VALUE
At 30 September 2022
At 30 September 2021 |
|
Listed
investments
£
2,214,247
182,365
(249,124)
(245,199)
1,902,289
1,902,289
2,214,247 |
The market value of the investments held at the year-end is represented by: |
|
|
|
|
|
|
30.9.22 |
30.9.21
£
1,596,179
618,068
2,214,247 |
|
£ |
|
|
|
|
Investment assets in the UK |
1,080,168 |
|
Investment assets outside the UK |
822,121 |
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1,902,289 |
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|
All investments are listed on a recognised stock exchange.
Cost or valuation at 30 September 2022 is represented by:
|
|
Listed |
|
|
investments |
|
|
£ |
Valuation in |
2022 |
1,902,289 |
Ifthefixedassetinvestmentshadnotbeenrevaluedtheywouldhavebeenincludedatthefollowing historical
cost:
|
30.9.22 |
30.9.21 |
|
£ |
£ |
Cost |
1,639,662 |
1,691,018 |
The fixed asset investments were valued on an open market basis on 30 September 2022 by Quilter Cheviot.
continued...
Page 8
The Betty Riseley Trust
Notes to the Financial Statements - continued for the Year Ended 30 September 2022
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
8.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as
Unrestricted funds
General fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS |
follows:
Incoming
resources
£
53,322
53,322 |
At
1.10.21
£
2,284,167
2,284,167
Resources
expended
£
(60,837)
(60,837)
At
1.10.20
£
2,032,033
2,032,033 |
|
30.9.22
£
12,000
Net
movement
in funds
£
(252,714)
(252,714)
Gains and
losses
£
(245,199)
(245,199)
Net
movement
in funds
£
252,134
252,134 |
30.9.21
£
7,980
At
30.9.22
£
2,031,453
2,031,453
Movement
in funds
£
(252,714)
(252,714)
At
30.9.21
£
2,284,167
2,284,167 |
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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 2022
8. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
54,177
(76,873)
TOTAL FUNDS
54,177
(76,873)
A current year 12 months and prior year 12 months combined position is as follows:
At
1.10.20
£
Unrestricted funds
General fund
2,032,033
TOTAL FUNDS
2,032,033 |
|
Gains and
losses
£
274,830
274,830
Net
movement
in funds
£
(580)
(580) |
Movement
in funds
£
252,134
252,134
At
30.9.22
£
2,031,453
2,031,453 |
|
|
|
|
A currentyear12 monthsandprioryear12 monthscombinednetmovementin funds,includedin theabove are
as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
resources
£
107,499
107,499 |
Resources
expended
£
(137,710)
(137,710) |
Gains and
Movement
losses
in funds
£
£
29,631
(580)
29,631
(580) |
|
|
|
|
continued...
Page 10
The Betty Riseley Trust
Notes to the Financial Statements - continued for the Year Ended 30 September 2022
9. 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 September2022The BettyRiseleyTrustpaid legalfees of £7,800(2021:£7,800)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 2022
30.9.22
30.9.21
£
£
53,322
54,177
53,322
54,177
29,732
28,603
15,046
36,705
2,145
1,725
2,160
2,040
11,754
7,800
13,914
9,840
60,837
76,873
(7,515)
(22,696) |
Detailed Statement of Financial Activities
for the Year Ended 30 September 2022
30.9.22
30.9.21
£
£
53,322
54,177
53,322
54,177
29,732
28,603
15,046
36,705
2,145
1,725
2,160
2,040
11,754
7,800
13,914
9,840
60,837
76,873
(7,515)
(22,696) |
|
|
|
|
|
54,177
28,603
36,705
1,725
2,040
7,800 |
|
|
9,840 |
|
|
76,873 |
|
|
(22,696) |
This page does not form part of the statutory financial statements
Page 12