2021-10-31-accounts

Charlty numb•r: 1132834 THE PHILLIPPS CHARITABLE TRUST UNAUDITED TRUSTEES, REPORT AND FINANCIAL ST ATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

THE PHILLIPPS cHAR￿ABLE TRUST CONTENTS Page R•f•r•nc• nd dmlnl•tr•th• d•lall• of th• Ch•rlty. Its TnMt••• •nd adYl••rn Tn4•t•M' r•port Ind•p•nd•nt •x•mln•rf• r•port Stt•m•nt of fln4n¢l•l •¢tfvltl B•hn¢• •h••l 10 Not•• to th• fin￿141 •l*t•m•nts

THE PHILLIPPS CHARITABLE TRUST REFERENCE AND ADMINISTRATNE DETAILS OF THE CHARrrY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 OCTOBER 2021 Tru•t Dr A Phillipps Ms A H¢¥kin$ Charbty r•ql•t•r•d numb•r 1132834 PrIncI￿1 ¢)ffl 138 Chamberfwn Slr••t NW18X8 A¢Ca￿AlIn￿ Larking Go*tn LLP Charter&J AccountsntB 43 8ull Streat NR25 6HP Pag8 4

THE PHILLIPPS CHARITABLE TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 OCT08ER 2021 The Trustses present their annual rerxjrt logther finanual statements of thg Charity lor th8 1 November 2020 to 31 O¢tob¢r 2021. Obl•ctlv•• and •dlvlll•• . PolklM obl•ctl¥ In setting obj'ectives and planning fcrf ￿liVI110$, t￿ Tw$ttts hav• given consideration to go￿ra1 guidance published by th& Charity Cc¥nmission rekbng to public ténefil. induth.ng the guidanct'Public benefit. running cn8rity IP821'. Th¥ oty'e¢tives of the charity continue to be.. Th• prevention or rèlid of Ftherty in particular M¢h￿rt limitabonl by faalilating th• proviwon ol ho(t￿ng shelter, doihing. medical WJPF¢Yt and hèalthcare. eth¢èlion and sd)ome8 or progfammes which encourage dwdow•nt ty u•al• w￿￿9ymOnt ¢)pportunibes and by the commission of research for public benefit and pU￿1¢allon of the useful rnsults Ihweof. The athianc•m•nl of human rights la$ 981 in thè Euwn Convents'on on Humans Righl$l throughout the wodd by.. reliwing need 4mty)g the victims of human right8 atyjse, cwnmiswoning rewrch into hLwnan right8 i88u&s and putlishing us•ful rewlts thereof and rai$ng awa￿ne$S of human rights issues The prunots'cffj of wuality •)d div•isty for the p￿)lIC benefit by.. •JvanaThJ •Jucation and rai￿ng ￿rent$S in gwality and diveNty. eommimoning re￿r¢h on wtsality arrfl thi•r•ty i8WJ88 and pU￿lShing the useful resutts Ihereol. Th? athan￿m￿nI of environmental p￿teCtion or improvement by yomoting conservation 8UStain8bl d•vel¢fJmenl and regeneration the pwdent U8e of natural resources and etynmissioning re8e8¢h into all Jch fields and rnlated fi•ld$ ol udy ar￿ publishing the uful rtwrt8 thererA. The charity 8UFPOrts a broJ range ol causes lttuses on Fqect8 that have a d•ar ￿0rt ¢0 8elf funding, ore Community basod and havo cloar and rneaBur&)le cty'ective& In the current year thry have mad8 (kJnab'on5 lots111r￿ £ICQ.CKQ12020". £50.OWI. b. M•thod ol *ppobntm•nt or •l•¢tloD of tru•t• The management ol lh• ¢hgrty is the le8P)n￿bil￿ of the Trustees are elected and c¢-OPtèd under the term5 of the Trust De•<l. The Tnjstees of The Phillipp5 charilab￿ Tnjst are elected at general meets'ngs Pag& 5

THE PHILLIPPS CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2021

Achievements and performance

a. Investment policy and performance

The Trustees have the powers to administer and manager the assets of the trust. The Trustees have delegated management of the charity’s securities investment portfolio to UBS Investments, a firm of independent investment managers.

It is the Trustees’ objective to secure investment income towards the running costs and grants awarded whilst also achieving sufficient capital growth to provide for future donations.

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

b. Reserves policy

The Trustees have reviewed the reserves held by the trust of £816,863 (2020 : £765,124) and their sufficiency in satisfying their role. The Trustees endeavour to maintain such level of investments as necessary to fulfil the charity’s needs. The reserves are held in investments to generate income to finance future donations.

Structure, governance and management

a. Constitution

The Phillipps Charitable Trust is a registered charity, number 1132834, and is constituted under a Trust deed dated 2 April 2008, which sets out its objectives, appointment of officers and other regulations together with a supplemental Deed dated 28 October 2009.

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THE PHILLIPPS CHARITABLE TRUST TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 OCTOBER 2021 Stt•m•nt ol Tru•t•••' rnBport•lbiliti The Trustees are responsble lor prepariro the Trust￿, rgF¥yI aTrJ the finanoal statements in accordance wlh aFplicable Iw and United lfj'ng￿ h£countirvJ StarKlards Iuniled Kjngdtym Generally Attepted AccounliThJ Practice). The law applicAtAe to Ch￿tieS in ENJland & Wales rewires the Trustoes lo prepare financial statements for •xh linanoal give a true and fair vivw of the stst¢ of affairn of the Charity and of its inccffling resources and appli¢alKn of resources, induding rts income 8nd expendrture. for that In pr•paring these financial ateménts. thè Tru81¢￿ ar• rwuired to.. sal￿1 8uitab$8 EKcountirrfJ polic and then aFply them cOn￿StentIy,. observg the meth&Js and princjples of the Charits"es SORP IFRS 1W21,' mak• Ivdgm¥nt8 and accounting &stimates that art re88onable and pwdent" stale whether aFpli¢at40 UK A¢¢ounling Slandards IFRS 1021 have boen fdl¢ywtsd. iubl•ct lo any rnalerial departur￿ di8do8ed #nd &xpbineoJ in the finanaal siatement8". pfoparg ihe financkil staternents on the ¢onc•m b•s il 1$ inapyopriate to prewme that the Ch•rily wll ¢ontfftu• in buwn•M. The Tnjstees are fespon•ble for keoping 8(18quatg accounting rgcords thai are wfficaent to show and explain Ihe Charily's transactions and disdose reasona￿ *￿raCY al any bmg the financial pO￿tIon of the Charity and enable Ihom t¢ ensure that the finanual 518temènls compty ￿th the Charities A¢¢ 2011. tho Charity (Accounts and Reports) Regulalions 2fyJ8 and the ￿￿VI￿$ ol the Tru81 d•8d. They are also responsiblè for 8918guafding lh8 assets of the Charity and hen￿ f¢y Win9 rogsona￿e slops for the prevention and detection of fraud and olh•r irregulanty. oyoved by order of t￿ M￿bar8 of Ihe l￿d of Tn￿lee5 igned on th•"r beh41 by". Dr A Phllllpp• ITrusleel Dale. 02/0812022 Pa9e 7

THE PHILLIPPS CHARITABLE TRUST

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 OCTOBER 2021

Independent examiner's report to the Trustees of The Phillipps Charitable Trust ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 October 2021.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed 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 the accounts in accordance with 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) 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 been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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 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 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 accounts to be reached.

Signed:

Christopher Yeates

FCA DChA

Larking Gowen LLP Chartered Accountants Holt

11 August 2022

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THE PHILLIPPS CHARtrABLE TRUST STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 31 OCTOBER 2021 Unreltricted fund• 2021 Total fund• 2021 rolal fvnds 2020 Incom• Irom.. Oonations and legarA68 Invg8trnents 20.000 11,484 11,484 12, 166 Total incom• 31,484 31.404 72. 766 Exp•ndltur• on: CharilaNe ad1V￿.¢$. Charitable dts)ations Inveslmenl charges Bank charg•s 100,1 8.213 lo0.0￿) 8.213 8,191 Tot•1 •xp•fidbtur• 108,413 108.413 58, 191 N•1 •xp•ndltur• b•for• n•t g•lnW{lo••••l on Inv￿lm•n￿ Nel gain￿1108t08I on invethenls 176,9XI 128,868 176.9291 128,668 (46.025) f23.698? N•t rnov•m•ni In fund• 51.739 51,739 (69. 723) R•conclll•tlon of fund•.' Total funds brought foThvaTd Net movement in fundy 76S.124 51.739 78S,124 61,739 834,847 (69, 723J T¢)t•l fvnd• ¢•rrf•d to￿￿1 816.863 816,863 765. 124 The Statement of fin8nual a¢tNities includes 911 gains and lossas recognwd in the yagr. The notes on pw 1110 16 fom part of thw fina￿￿1 Stat￿9n￿. Page 9

THE PHILLIPPS CHARITABLE TRUST BALANCE SHEET FOR THE YEAR ENDED 31 OCT08ER 2021 2021 2020 Flx•d u••ts Investments 803,714 734,358 803,714 734,358 Curr•nt •M•t• Cash at bank •nd in 13.149 30.766 13.149 30, 766 N•t curr•nt ￿••1• 13,149 30, 766 Total au•t• h•• ¢urr•n¢ Il•bllltl•• 816,063 765. 124 816.863 765, 124 Tot•1 n•t *M•¢• 816.883 765. 124 h•rlty fund• R•8tricted funds UnreslrieteAI funds 810,963 TfjS, 724 Total fund• 816.863 765, 124 The financial statsments were approvgd and authcri80d lor i88ue by Iha Trustoes and 8ign•d on their t•hall by.. Dr A Phllllpp• M•AHo In Dale.. 0210812022 The notes on pagg$ 11 to 16 forn part of thes8 fin￿la1 Blatwnents. P&Je 10

THE PHILLIPPS CHARtfABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021 G•n•rnl Infomi•tion The Phillipps Charitable Trust is a charitthl& trust r8gisteTed in England and Wales (No 11328341. The financial statements are Pfesented in thrfing is the functional ￿rrencY of th• charitable Iruyl and rounded to the nea￿1 £. Th• sgnificant K£ounting pdir￿S apF4bed in tho PTepaTathin ol th•ge financial stst•m•nts aro 8el out below. These Fdicies have b￿￿ consstentty applied to all years presentod unless otheTW8e sts18d. Ac¢ounllng pollci 2.1 B••h ol pr•parntSon of flnn¢l•l •t•t•m•nt4 The financial staloments hove been prepared in occcKthnc wlh the Charitie8 SORP IFRS 1021- Accounting and ReFOrting by ChaTrties'. Stalemènl of Recrynmended Practi¢e aFplicabl8 to charities preparing Ihwr 8ccounls in ac£ordan¢8 wth the Finanrial R¢pJrting Standard aroli¢abl• in the UK and Repulmic of Ir•lana IFRS 1021 ieffKtlvè 1 January 201SI. ih? Fingnoal flewtiTra Standard applicable in the UK and Republi¢ of Ireland IFRS 1021 and th• Chanlies Act 2011 The financial statements have been prepa￿d to give a 'lru8 and f8if view gnd have dep8rted frcrfn the Charili8$ (Accounts ènd Repjrtsl Regulaiions 2008 only to the èxtent required 1¢ provid8 a 'lrue and fairf view. This depwture has Invofv8d lollowng the Ch8rrties SORP IFRS 1021 publishod on 16 July 2014 rather than the Accounling ReportiThJ by Charities" Statement of Recommendod Pr8¢ti¢8 •ffgctive from 1 Aw'l 2005 has •nc• b8•n Viihdran. The Phillipps Chanta￿8 Trust meeis the d￿ln1￿.0n ol a public benefit entity under FRS 102. A$g&18 and liats'libes are inrtially reccgnised ai historical cost or transaction value unless olheM8e sialed In the re￿an1 ¥¢¢ounbng polity. 2.2 Incom• JI i1￿ne 18 rtr>)gniW thts Chwty ha$ onbtloment to the ino)no, it 18 probable that I In¢cffi• will te recaved and the amount of inc£rfne rec•vall• can be measured rfjliaNy. 2.3 Exp•ndltuM ExFendilure is r•cc¢3nid On￿ there is a l or ts)nstruclive cJligation lo transfer erj￿0M1C benefit lo ¥ third party, Il is W￿9b¢e that a Iransler of eo)nwiic benefits will be required in settlement and the ¥nount of the o1ji9at￿n can be measured reli4￿Y Exp8nditure ¢8 cl8ss11ied by 8¢tivity. The COBts of each acb'vty ap mad• up of iho total of direct ¢osts and shared cost8, including suiwt involvèd in untyertsking aclwity. Di￿E Costs attributabla to a ￿ngle activty aro Allocated dirtcuy ¢0 that activity. Sh$rJ eosts which contributg ¢0 more tham one activity and supwrt costs vthiGh are not attribulable to a sngle act￿lty are aFPOrtioned those activities on a bass con%stenl with the use cl yes￿rCes. Central &aff costs S￿ allocated on the b￿S of lime sponl. and dyia¢KJn tharges alkn¢0￿￿ on the ports.on of the awt'$ uso. Exwdilure on charitable actry￿"eS is incurred on diredy undertakiThJ Ihe activilies whth further the Charity's objects'ves, as as any asse4ated FAJFPYt costs. Page 11

THE PHILLIPPS CHAIIITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021 A¢couThtlng poll¢l•• Icontinugd) 2.3 Exp•ndltuf• Icontlnu•dl GranlB p8yat4e ￿ charged in the ￿r then the offer is made except in ihose casès where the offer is conditiongl, such grants b￿.ng rectrani88d as 8XFendilure ￿en the ts)ndilion$ attachin9 are fuKilled. Grants offer•J ￿jbJeCt lo condil￿5 ¥thi¢h h&e not been mel at the year end are noted as rthimilmont, tr￿1 not a¢¢rued a$ 8¥pendI￿re. All exwditUTe i¥ of irreco¥¢rl? VAT. 2.4 In¥••tm•nts Fixed owt investm•nts aro • fomi of financkgl in8trum•nt and affj initially r8coJn15ed al th•ir transaction wat and 8ubsouenUy measured al fair valu• at the Balance sheat date, unless tho value cannot be measured reli8t4y in ¥￿1th ¢888 il is meawJr&J 81 ￿st less Impaim•nl. Investment gains 8nd losges whetmf realised or unrgalised. 80 combin8d and pr08enled as'Gain&lLow¥l on inveylm•nts' in Ihe Statomenl of financol activitses. 2.6 C••h al bank •nd In hand Cash al bank in hand indudes cash ar￿ 8hort-tem highly liquid invesiment$ wlh a short rnatursty ol three months or le8s from the dale ol aCqUi￿ttOn or opaning of thè dewt or similar account. 2.8 Fund ￿￿untIng Genwal fuTrJ¥ are unr•8tn"cled fund8 %thich are availatAe fc4 u8• at the di8¢rolion of the Trusl•e$ in furthera￿¢ of the g￿erI oty"e¢ti¥es of the Charity and havg not been d&s'gng18d for other PUfFoses. Inv8thent inctsn•, gains and Ic488s are alIc￿ted lo thg ¥prow¥t• fund. In¢om• from dontlon• •nd 1•g•¢1 Unrn•trict•d fund¥ 2021 Tot•1 fund• 2021 Total funds 2020 Oonotions Page 12

THE PHILLIPPS CHARrrABLE TRLK8T NOTES TO THE FINANCIAL STATEIIENTS FOR THE YEAR ENDED 31 OCTOBER 2021 In¥•8trn•nt In¢om• Unr••tsictsd lund• 2021 Totsl fund• 2021 Total lurJ(ts 2020 Income from li8tèd inv•thents 11,484 11,484 12, 166 Total 2020 12, 166 12, 166 Tnwtw•' Mmun•r•tlon and •xp•n• Jrirtg th• y•¥r, Tru¢tMs r•c4ived any r•mur•rglion or otlw I)an￿1t# (2020. £NILI. Duriro the yèar ended 31 oCtc4￿ 2021. no Trustse expen￿ hov• inojrred (2020- £NIL). Don•tioM 2021 2020 Shelter The Princes Tnmt Plan Intornational UK Crcm•r Jnd th'strict Foothank 60.000 15.000 25,000 10,000 50,Ot 100,000 Page 13

THE PHILLIPPS CHARITABLE TRik8T NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021 Flxod M••t In¥Mlrn•nts Listed inv•$tm•nts Co•t or valu•¢lon Al 1 Novemt4r 2020 Additions Dispjsals Rwaluatlc￿I 734,358 231.020 1290,3321 128,688 Al 31 October 2021 803,714 Nrf book ¥4lu• At 31 Octot4f 2021 803.714 At 31 Odober2020 T34,358 PaJe 14

THE PHILLIPPS cHAR￿A￿LE TRUST NOTES TO THE FINANCIAL STATEME1￿5 FOR THE YEAR ENDED 31 OCTOBER 2021 Stat•mwt of fund• St•t•m•nt ol lund•- ¢urY•nt year Bal•n¢• at 1 Nov•mb•r Bol•ne• at Gain•1 31 O¢tob•r ILo88••1 2021 Incom• Exp•ndltur• UnY••trl¢t•d fund• General Fund5- all fundi 765.124 31 1108.413} 128,668 816,863 St•t•m•nt of lund•- prfor ymr 8alance 81 Gain￿ 31 Octobei (Losses) 2020 1 Nov8mbei 2019 Unrn•tYl¢t•d fund• Genw81 Funds. all fur 834.847 12, 166 (58. 191) (23.698) 765. 124 An•ly•l• of n•t a•••t• b•t¥M•n fund• An•lysl• of n•t ￿•18 b•tw••n fund•- curT•nt ymr Unr••trfct•d fvnd• 2021 Total fund• 2021 Fixed ast•t inveknerts Current assets 803.714 13.149 803.714 13,149 Total 816.863 816,863 P￿e 15

THE PHILLIPPS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021 Analy•l• of not b•tw••n fvnd• Icontlnu•dl All1￿￿ ol n•t w•ts bet4¥•en fund• . prlor y••r Unrnstnct8d fvnds 2020 Tol&l lunds 2020 Fixed as￿ inv8m8nts Current awt$ 734,358 30. 766 T34.358 30, 766 Total 765. 124 765, 124 10. R•lat•d p•rty tr•A•￿￿On• Thè ¢harity's acLountancy feo of £1.026 12020 - £9541 is paid by a trustee on behalf ol the th8rity. No reimburn•mtnl is r•qu8*gd. The amounl 18 not rewni8¢d in th& finanual st8tements. Th• charity rerAved ¢kJn8tions amouting to £20.IXX) vitthin Ihe year from Dr A Phillipps who 18 a Trusieg ol the chanty. P•Je 16