**Charity Registration number: 1129186**
**The Monmothian Charitable Trust**
**Unaudited financial statements**
**30 April 2021**
## **The Monmothian Charitable Trust**
## **Contents**
||**Page**|
|---|---|
|Legal and administrative Information|**1**|
|Trustees report|**2 - 3**|
|Independent examiner's report|**4**|
|Statement of comprehensive income|**5**|
|Statement of financial position|**6**|
|Notes to the financial statements|**7 - 9**|
## **The Monmothian Charitable Trust**
## **Legal and administrative information**
## **Trustees**
## **Charity number**
## **Independant examiner**
Sir F Davies CBE O St J Dr A Mohindru Mr S Raikes Mr R Booth Mr S George Mr R Atkins Mr ������� Mr N James
1129186 Crown & Co Accountants Limited Singleton Court Business Park Wonastow Road Monmouth Monmouthshire NP25 5JA
**Page 1**
## **The Monmothian Charitable Trust**
## **Trustees report Year ended 30 April 2021**
The trustees present their report and accounts for the year ended 30 April 2021.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the trust's deed, 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 the Republic of Ireland (FRS 102)" (as amended for accounting periods commencing from 1 January 2016).
## **Objectives and activities**
The objects of the trust are for the benefit of such charitable purposes or charitable institutions with the County of Monmouthshire, The Forest of Dean and South Hereforshire at such times and in such manner and proportions as the trustees may from time to time in their discretion determine and in particular for the William Jones Foundation for the benefit of Monmouth Shcool. The trust carries out these objects by providing small one off grants to help community projects. The trustees have due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake.
## **Financial review**
The main source of income is from donations, legacies and gifts and the trustees do not intend to seek funds from other sources at the moment. Grants have been made as detailed in the accounts for those opportunities to assist other charities identified by the trustees. The trustees do not consider there is any need to maintain any fixed level reserves as the charity has no commitments for expenses.
## **Risk management**
The trustees have considered the major risks to which the charity is exposed and have reviewed those risks and established systems and procedures to manage those risks. No major risks have been identified other than the collapse of the financial houses where the money has been deposited.
## **Grant making policy**
The Trust has established its grant making policy to achieve its objects for the public benefit by helping Monmouth School. The grant making policy is reviewed annually to ensure that it reflects the chairty's objects and thereby advances public benefit.
## **Investment policy and performance**
The trustees recognise that the main requirement from the investment is to obtain the best interest rates on short term deposits.
## **Plans for the future**
The Trustees plan to distribute all incoming funds to benefit local charities.
## **Structure, governance and management**
The trust is a registered charity, number 112918 and is consituted under a trust deed dated 26 March 2009. The trust was established with an initial donation of £500.
**Page 2**
## **The Monmothian Charitable Trust**
**Trustees report (continued) Year ended 30 April 2021**
The trustees report was approved by the Board of Trustees on 12 November 2021.
Mr S Raikes Trustee
**Page 3**
## **The Monmothian Charitable Trust**
## **Independent Examiner's Report to the Trustees of the Monmothian Charitable Trust Year ended 30 April 2021**
I report on the accounts of the trust for the year ended 30 April 2021.
## **Respective resonsibilities of trustees and examiner**
The trust's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
(ii) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
(iii) to state whether particular matters have come to my attention.
## **Basis of independent examiner's report**
My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a reveiw of the accounting records kept by the charity and a comparison of the accounts presented in those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accoutns present a 'true and fair view' and the report is limited to those matters set out in the next statement.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared accounts in accordance with the "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).
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting period beginning on or after 1 January 2015.
In connection with my examination, no other matter except that referred to in the previous paragraph has come to my attention:
(a) which gives me reasonable cause to believe that in any material respect the requirements:
(i) to keep accounting records in accordance with section 130 of the 2011 Act; and
(ii) to prepare accounts in accordance with the accounting records and comply with the accounting requirements of the 2011 Act;
(b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the **accounts to be reached** .
## **Crown & Co Accountants Limited**
Singleton Court Business Park Wonastow Road Monmouth Monmouthshire NP25 5JA
12 November 2021
**Page 4**
## **The Monmothian Charitable Trust**
## **Statement of comprehensive income Year ended 30 April 2021**
|**Note**
**Income from donations, legacies and charitable activities**
Expenditure on charitable activities
Unrealised (loss)/gain on investments
Income from other fixed asset investments
**3**
**Net income/(expenditure) for the year**|**2021**
**£**
28,693
)
(21,861
6,832
4,295
987
12,114|2020
£
20,493
)
(24,484
)
(3,991
)
(4,315
816
)
(7,490|
|---|---|---|
**The notes on pages 7 to 9 form part of these financial statements.**
**Page 5**
## **The Monmothian Charitable Trust**
## **Statement of financial position 30 April 2021**
|**Note**
**Fixed assets**
Investments
**4**
**Current assets**
Debtors
**5**
Cash at bank and in hand
**Creditors: amounts falling due**
**within one year**
**6**
**Net current assets**
**Total assets less current liabilities**
**Net assets**
**Income funds**
Unrestricted funds|**2021**
**£**
29,187
10,372
54,859
65,231
)
(747|**£**
29,187
64,484
93,671
93,671
93,671
93,671|2020
£
24,892
-
62,410
62,410
)
(5,744|£
24,892
56,666|
|---|---|---|---|---|
|||||81,558|
|||||81,558|
|||||81,558|
|||||81,558|
The financial statements were approved by the Trustees on �� �������� 2020.
Mr S Raikes Trustee
Charity registration number: 1129186
**The notes on pages 7 to 9 form part of these financial statements.**
**Page 6**
## **The Monmothian Charitable Trust**
## **Notes to the financial statements Year ended 30 April 2021**
## **1. Accounting policies**
## **Basis of preparation**
The accounts have been prepared in accordance with the trust'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 2016). The trust is a Public Benefit Entity as defined by FRS 102. The trust has taken advantage of the provisions of the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a statement of cash flows. The accounts 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.
## **Incoming resources**
All incoming resources are recognised once the charity has entitlement to the resources, it is certain that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability.
## **Fixed asset investments**
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
## **Impairment**
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
**Page 7**