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
St*t•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 u*ful rtwrt8 thererA.
The charity 8UFPOrts a bro*J range ol causes lttuses on F*qect8 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. 

Page 6 



THE PHILLIPPS CHARITABLE TRUST
TRUSTEES. REPORT {CONTINUEDI
FOR THE YEAR ENDED 31 OCTOBER 2021
St*t•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¢alK*n 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 

Page 8 



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 fln*n¢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 V*iihdra*n.
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¢3ni*d On￿ there is a l* or ts)nstruclive c*Jligation 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$r*J eosts which contributg ¢0 more tham one activity
and supwrt costs vthiGh are not attribulable to a sngle act￿lty are aFPOrtioned those
activities on a bass con%stenl with the use cl yes￿rCes. Central &aff costs S￿ allocated on the
b￿S of lime sponl. and dyia¢KJn tharges alkn¢0￿￿ on the ports.on of the awt'$ 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¥¢r*l? 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 8ubs*ouenUy 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 dew*t 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￿er*I 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 don*tlon• •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￿ inv8*m8nts
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