``` REGISTERED CHARITY NUMBER: 1128462 ``` ## **`Report of the Trustees and`** ``` Unaudited Financial Statements ``` ``` for the Year Ended 30 September 2023 ``` ## **`for`** ``` The Betty Riseley Trust for Children ``` ``` Bennewith 2018 Limited t/a A J Bennewith & Co Upper Ground Floor 18 Farnham Road Guildford Surrey GU1 4XA ``` ``` The Betty Riseley Trust for Children ``` ``` Contents of the Financial Statements for the Year Ended 30 September 2023 ``` |||**`Page`**|| |---|---|---|---| |**`Report of the Trustees`**|`1`|`to`|`2`| |**`Independent Examiner's Report`**||`3`|| |**`Statement of Financial Activities`**||`4`|| |**`Balance Sheet`**||`5`|| |**`Notes to the Financial Statements`**|`6`|`to`|`11`| |**`Detailed Statement of Financial Activities`**||`12`|| ``` The Betty Riseley Trust for Children ``` ## **`Report of the Trustees for the Year Ended 30 September 2023`** ``` The trusteespresenttheirreportwiththe financialstatementsof the charityforthe yearended30 September2023. The trusteeshaveadoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommended Practice applicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableinthe 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 £65,358 (2022: £15,046) to local institutions. ``` ``` The trusteesconsiderthatthey have compliedwiththe dutyin section17(5)of the CharitiesAct 2011 to have due regard to public benefit guidance published by the Charity Commission. ``` ## **`FINANCIAL REVIEW`** ## **`Investment policy and objectives`** ``` Investmentsare held in shares,corporatebondsand gilt-edgedsecurities.The charity'sinvestmentportfoliois 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 for Children ``` ## **`Report of the Trustees`** ## **`for the Year Ended 30 September 2023`** ## **`Trustees`** ``` Mrs M Jack Mrs M Bainbridge J Lamont Ms C Pearce ``` ## **`Independent Examiner`** ``` Bennewith 2018 Limited t/a A J Bennewith & Co Upper Ground Floor 18 Farnham Road Guildford Surrey GU1 4XA ``` ## **`CHANGE OF NAME`** ``` Thecharitypasseda specialresolutionon28February2024changingitsnamefromTheBettyRiseleyTrusttoThe Betty Riseley Trust for Children.Due to the high numberof inappropriategrantapplicationsbeing receivedby the trustees from organisationswhoseworkdoesnotinvolvechildren,itwasagreedbythetrusteesthatthenameofthetrustshould be changedinsuchawayastounderlinethefactthatthetrust'saimistobenefitchildrenonly.Thetrustees therefore agreed that the name 'The Betty Riseley Trust for Children' would best fulfil this objective. ``` ``` 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 for Children ``` ## **`Independent examiner's report to the trustees of The Betty Riseley Trust for Children`** ``` IreporttothecharitytrusteesonmyexaminationoftheaccountsofTheBettyRiseleyTrustforChildren(theTrust) for the year ended 30 September 2023. ``` ## **`Responsibilities and basis of report`** ``` AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordancewith the requirements of the Charities Act 2011 ('the Act'). ``` ``` I reportin respectof my examinationof the Trust'saccountscarriedoutunderSection145 of the Act andin carrying out myexaminationI havefollowedallapplicableDirectionsgivenbytheCharityCommissionunderSection145(5)(b)of the Act. ``` ## **`Independent examiner's statement`** ``` I havecompletedmyexamination.I confirmthatnomaterialmattershavecometomyattentioninconnectionwith 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 Upper Ground Floor 18 Farnham Road Guildford Surrey GU1 4XA ``` ``` Date: ............................................. ``` ``` Page 3 ``` ``` The Betty Riseley Trust for Children ``` ## **`Statement of Financial Activities`** ## **`for the Year Ended 30 September 2023`** |`Notes`
**`INCOME AND ENDOWMENTS FROM`**
`Investment income`
`2`
**`EXPENDITURE ON`**
`Raising funds`
`3`
**`Charitable activities`**
`Grants to institutions`
`Support costs`
**`Total`**
`Net gains/(losses) on investments`
**`NET INCOME/(EXPENDITURE)`**
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
**`TOTAL FUNDS CARRIED FORWARD`**|`30.9.23`
`Unrestricted`
`fund`
`£`
`55,192`
`27,873`
`65,376`
`18,264`
`111,513`
`34,668`
`(21,653)`
`2,031,453`
`2,009,800`|`30.9.22`
`Total`
`funds`
`£`
`53,322`| |---|---|---| |||`29,732`
`15,046`
`16,059`| |||`60,837`| |||`(245,199)`| |||`(252,714)`
`2,284,167`| |||`2,031,453`| ``` The notes form part of these financial statements ``` ``` Page 4 ``` ``` The Betty Riseley Trust for Children ``` ## **`Balance Sheet`** ## **`30 September 2023`** |`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`**|`30.9.23`
`Unrestricted`
`fund`
`£`
`1,907,344`
`1,250`
`110,871`
`112,121`
`(9,665)`
`102,456`
`2,009,800`
`2,009,800`
`2,009,800`
`2,009,800`|`30.9.22`
`Total`
`funds`
`£`
`1,902,289`
`-`
`141,164`| |---|---|---| |||`141,164`
`(12,000)`| |||`129,164`| |||`2,031,453`| |||`2,031,453`| |||`2,031,453`| |||`2,031,453`| ``` The financialstatementswere approvedby the Boardof Trusteesandauthorisedfor 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 for Children ``` ## **`Notes to the Financial Statements for the Year Ended 30 September 2023`** ## **`1. ACCOUNTING POLICIES`** ## **`Basis of preparing the financial statements`** ``` Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,havebeenprepared in accordancewith the CharitiesSORP (FRS 102) 'Accountingand Reportingby Charities:Statementof Recommended PracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting Standard applicablein the UK and Republicof Ireland(FRS 102) (effective 1 January2019)', FinancialReportingStandard 102 'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland'andtheCharitiesAct2011. The financialstatementshavebeenpreparedunderthehistoricalcostconvention,withtheexceptionof investments which are included at market value, as modified by the revaluation of certain assets. ``` ## **`Income`** ``` All incomeis recognisedin the Statementof FinancialActivitiesonce the charityhas entitlementto the funds,it is probable that the income will be received and the amount can be measured reliably. ``` ## **`Expenditure`** ``` Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlement and the amountof the obligationcanbe measuredreliably.Expenditureis accountedforon 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. ``` ``` Restrictedfundscanonlybe usedforparticularrestrictedpurposeswithinthe 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`**||| |---|---|---| ||`30.9.23`|`30.9.22`| ||`£`|`£`| |`Income from listed investments`|`55,192`|`53,322`| ``` continued... ``` ``` Page 6 ``` ``` The Betty Riseley Trust for Children ``` ## **`Notes to the Financial Statements - continued for the Year Ended 30 September 2023`** ## **`3. RAISING FUNDS`** ## **`Investment management costs`** |**`Investment management costs`**||| |---|---|---| ||`30.9.23`|`30.9.22`| ||`£`|`£`| |`Portfolio management`|`27,873`|`29,732`| ## **`4. TRUSTEES' REMUNERATION AND BENEFITS`** ``` Therewerenotrustees'remunerationorotherbenefitsfortheyearended30September2023norforthe year ended 30 September 2022. ``` ## **`Trustees' expenses`** ``` Therewerenotrustees'expensespaidfortheyearended30September2023norfortheyear ended 30 September 2022. ``` ## **`5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`** |**`INCOME AND ENDOWMENTS FROM`**
`Investment income`
**`EXPENDITURE ON`**
`Raising funds`
**`Charitable activities`**
`Grants to institutions`
`Support costs`
**`Total`**
`Net gains/(losses) on investments`
**`NET INCOME/(EXPENDITURE)`**
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
**`TOTAL FUNDS CARRIED FORWARD`**|`Unrestricted`
`fund`
`£`
`53,322`| |---|---| ||`29,732`
`15,046`
`16,059`| ||`60,837`| ||`(245,199)`| ||`(252,714)`
`2,284,167`| ||`2,031,453`| ``` continued... ``` ``` Page 7 ``` ``` The Betty Riseley Trust for Children ``` ## **`Notes to the Financial Statements - continued for the Year Ended 30 September 2023`** ## **`6. FIXED ASSET INVESTMENTS`** |**`FIXED ASSET INVESTMENTS`**||| |---|---|---| |**`MARKET VALUE`**
`At 1 October 2022`
`Additions`
`Disposals`
`Revaluations`
`At 30 September 2023`
**`NET BOOK VALUE`**
`At 30 September 2023`
`At 30 September 2022`||`Listed`
`investments`
`£`
`1,902,289`
`243,631`
`(273,244)`
`34,668`
`1,907,344`
`1,907,344`
`1,902,289`| |`The market value of the investments held at the year-end is represented by:`||| |||| ||`30.9.23`|`30.9.22`
`£`
`1,080,168`
`822,121`
`1,902,289`| ||`£`|| |||| |`Investment assets in the UK`|`948,841`|| |`Investment assets outside the UK`|`958,503`|| |||| ||`1,907,344`|| |||| ``` All investments are listed on a recognised stock exchange. ``` ``` Cost or valuation at 30 September 2023 is represented by: ``` |||`Listed`| |---|---|---| |||`investments`| |||`£`| |`Valuation in`|`2023`|`1,907,344`| ``` Ifthefixedassetinvestmentshadnotbeenrevaluedtheywouldhavebeenincludedatthefollowing historical cost: ``` ||`30.9.23`|`30.9.22`| |---|---|---| ||`£`|`£`| |`Cost`|`1,626,776`|`1,639,662`| ``` The fixed asset investments were valued on an open market basis on 30 September 2023 by Quilter Cheviot. ``` ``` continued... ``` ``` Page 8 ``` ``` The Betty Riseley Trust for Children ``` ## **`Notes to the Financial Statements - continued for the Year Ended 30 September 2023`** ## **`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`
`55,192`
**`TOTAL FUNDS`**
`55,192`
**`Comparatives for movement in funds`**
**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`At`
`1.10.22`
`£`
`2,031,453`
`2,031,453`
`Resources`
`expended`
`£`
`(111,513)`
`(111,513)`
`At`
`1.10.21`
`£`
`2,284,167`
`2,284,167`||`30.9.23`
`£`
`1,250`
`30.9.23`
`£`
`9,665`
`Net`
`movement`
`in funds`
`£`
`(21,653)`
`(21,653)`
`Gains and`
`losses`
`£`
`34,668`
`34,668`
`Net`
`movement`
`in funds`
`£`
`(252,714)`
`(252,714)`|`30.9.22`
`£`
`-`
`30.9.22`
`£`
`12,000`
`At`
`30.9.23`
`£`
`2,009,800`
`2,009,800`
`Movement`
`in funds`
`£`
`(21,653)`
`(21,653)`
`At`
`30.9.22`
`£`
`2,031,453`
`2,031,453`| |---|---|---|---|---| |||||| |||||| |||||| ``` continued... ``` ``` Page 9 ``` ``` The Betty Riseley Trust for Children ``` ## **`Notes to the Financial Statements - continued for the Year Ended 30 September 2023`** ## **`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`
`53,322`
`(60,837)`
**`TOTAL FUNDS`**
`53,322`
`(60,837)`
`A current year 12 months and prior year 12 months combined position is as follows:`
`At`
`1.10.21`
`£`
**`Unrestricted funds`**
`General fund`
`2,284,167`
**`TOTAL FUNDS`**
`2,284,167`||`Gains and`
`losses`
`£`
`(245,199)`
`(245,199)`
`Net`
`movement`
`in funds`
`£`
`(274,367)`
`(274,367)`|`Movement`
`in funds`
`£`
`(252,714)`
`(252,714)`
`At`
`30.9.23`
`£`
`2,009,800`
`2,009,800`| |---|---|---|---| ||||| ``` A currentyear12 monthsandprioryear12 monthscombinednetmovementinfunds,includedintheabove are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`108,514`
`108,514`|`Resources`
`expended`
`£`
`(172,350)`
`(172,350)`|`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
`(210,531)`
`(274,367)`
`(210,531)`
`(274,367)`| |---|---|---|---| ``` continued... ``` ``` Page 10 ``` ``` The Betty Riseley Trust for Children ``` ## **`Notes to the Financial Statements - continued for the Year Ended 30 September 2023`** ## **`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 ended 30 September2023 The Betty Riseley Trust paid legal fees of £13,617 (2022: £7,800) to Hart Brown Solicitors. The fees are calculated on an arms-length basis. ``` ``` Page 11 ``` ``` The Betty Riseley Trust for Children ``` |**`INCOME AND ENDOWMENTS`**
**`Investment income`**
`Income from listed investments`
**`Total incoming resources`**
**`EXPENDITURE`**
**`Investment management costs`**
`Portfolio management`
**`Charitable activities`**
`Admin fees`
`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 2023`**
`30.9.23`
`30.9.22`
`£`
`£`
`55,192`
`53,322`
`55,192`
`53,322`
`27,873`
`29,732`
`18`
`-`
`65,358`
`15,046`
`65,376`
`15,046`
`2,307`
`2,145`
`2,340`
`2,160`
`13,617`
`11,754`
`15,957`
`13,914`
`111,513`
`60,837`
`(56,321)`
`(7,515)`| |---|---| ||| ``` This page does not form part of the statutory financial statements ``` ``` Page 12 ```