R.U.B. WHITE CHARITABLE TRUST Trustees, Report and Unaudited Financial Statements for the year ended 31 December 2024 Registered Charity Number l 135303
R.U.B. WHITE CHARITABLE TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 INDEX Charity information Trustees, report Independent Examiner's report Statement of financial activities Balance sheet Accounting policies Notes to the financial statements
R.U.B. WHITE CHARITABLE TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 CHARITY INFORMATION Trustees Mr Robert Blower Mr Stephen Harvey Mr Peregrine Liltleboy Mr Robert Partridge Principal office clo Charles Russell Speechlys LLP 5 Fleet Place London EC4M 7RD Registered charity number 1135303 Independent Examiner Geoffrey Frost Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex P019 1SY Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Investment managers Brewin Dolphin Limited 12 Smithfield Street London EC1A 9BD Solicitors Charles Russell Speechlys LLP 5 Fleet Place London EC4M 7RD Page 1
R.U.B. WHITE CHARITABLE TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 TRUSTEES, REPORT The trustees have pleasure in presenling their annual report for the purposes of the Charities Act 2011, together with the accounts for the period ended 31 December 2024. The truslees have adopted the provisions of the Statement of Recommended Pra¢li¢e ISORP) "Accounting and Reporting by Charilies" (FRS 102) in preparing the annual report and financial slatements of the charity. STRUCTURE GOVERNANCE AND MANAGEMENT R.U.B. White Charitable Trust is a registered charity constituted under a trust deed dated 30 January 2009 and registered as a charity 30 March 2010. The trust is controlled by the trustees. The power to appoint and remove trustees rests wilh the trustees. On agreeing lo become a trustee of the charity, the new trustees are Ihoroughly briefed by the existing co-trustees on the history of the trust, the day-lo-day management, responsibilities of the trustees, the current objectives and future plans. The trustees have assessed the major risks towhich the charity is exposed and are satisfied that they have established effective controls over financial and other systems to mitigate those risks. OBJECTIVES AND ACTIVITIES The charily's objects are.. "To further such other objects or purposes which are exclusively charitable according to the law of England and Wales in any part of Ihe world and in such manner as the trustees may in their absolule discretion think fit. In pursuance of its objects for the public benefit, the charity's income and capital is applied in making grants to charitable organisations amounting to £475,00012023'. £495,000) in the year to 31 December 2024. In determining how the charity should pursue ils objects, the trustees have had regard to the Charity Commission's guidance on public benefit. ACHIEVEMENTS, PERFORMANCE AND FINANCIAL REVIEW Total income for the year amounted to £63,600 and comprised income arising on the charity's investments {2023'. £65,476}. Charitable expenditure in the year comprised grants to charitable organisations, bank charges and governance costs, lotalling £515.687 (2023.. £560,728) while investment management fees totalled £4 12023.. £14,220) giving total expenditure of £515,691 (2023.. £574,948}. As at 31 December 2024 free reserves were totalled £2,003,144 (2023.. £2,449,730) to support Ihe charity's ongoing grant making activities. PLANS FOR FUTURE PERIODS The truslees intend to utilise capital more subslantially with a view to winding up the trust in the next four years. In light of this, the Iruslees do not consider unsolicited grant requests. Page 2
R.U.B. WHITE CHARITABLE TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 TRUSTEES, REPORT STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charilies in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of Ihe state of affairs of the charity and of the incoming resour$ and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent., state whether applicable accounting standards have been followed, subjectlo any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation The trustees are responsible for keeping proper accounting records that disclose wilh reasonable accuracy at any time the financial posilion of the charily and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Irust deed. They are also responsible for safeguarding the assets of the Charity and hence fortaking reasonable stepsforthe prevention and detection of fraud and other irregularities. APPOINTMENT OF AN INDEPENDENT EXAMINER During the year under review the charity remained below the audit threshold and the trustees retained Geoffrey Frost of Blue Spire Limited as independent examiner. Geoffrey Frost has expressed his willingness to conlinue as examiner to the charity provided the charity remains below the audit Ihreshold. Approved by the trustees and signed on their behalf. Robert Blower Trustee Date l(& Page 3
R.U.B. WHITE CHARITABLE TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 INDEPENDENT EXAMINER'S REPORT Independent ExamSnerfs Report to the Trustees of R.U.B. White Charitable Trust l Teport to the charity trustees on my examination of Ihe accounts of the charity for the year ended 31 December 2024 which are sel out on pages 5 to 13. Responsibilities and basis of report As the Charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {'the Act.). I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under seclion 145(5){b} of the Act. Independent examiner's statoment I have completed my examination. I confirm that no material matters have come to my altention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act., or the accounts do not accord with those records., or the accounts do not comply with the applicable reqLtirements 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 'lrue 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 lo enable a proper understanding of the accounts to be reached. Geoffrey ros BSclHons) FCA Blue Spire Limited Cawley Priory South Pallanl Chichester West Sussex P019 1SY Date Page 4
R.U.B. WHITE CHARITABLE TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 STATEMENT OF FINANCIAL ACTIVITIES 31 Oe¢ 2024 31 Dec 2023 Unrestrl¢ttd Unrestrlcted Total Total Funds Funds Note INCOME AND ENOOWMENTS FROM: Inveslmenis 73.664 65.476 Total 73,6e4 65,476 EXPENDITURE ON: Raising funds- Investment management fees Charitable activities 14,220 560,728 515,687 Total 515,691 574,948 Nel gain51{lo$sesl on investments 5,505 151,246 Not Incomell•xp8ndlturel and movom&nt on funds 1436.5221 1358,2261 RECONCILIATION OF FUNDS Total funds brought forward 11 2,449,730 2.807,956 Total lunds carrl•d fotward 11 2,013,208 2,449,730 None ol the charity's aclivilies were acquired Of disconlinued during the above financial years. The charily has no fecognised gains or losses other than those de811 th in Ihe stalement of financial a¢livilies. Page 5
R.U.B. WHITE CHARITABLE TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 BALANCE SHEET AS AT 31 DECEMBER 2024 31 De¢ 2024 31 Dec 2023 Note FIXED ASSETS Inveslmenls- managed funds 1,945,937 2,423,864 CURRENT ASSETS Cash al hand 8nd in bank Debtors Total curr•nt assets 175,475 10,064 185,539 54,011 4,641 58,652 CURRENT LIABILITIES Creditors.. amounls falling due ¥thIn one year Not currant assètsllllabllltlesl 10 118,268 32,786 67,271 2S.866 Nèl a$$•tsl(Ilabllltle51 2.013,208 2,449,730 THE FUNDS OF THE CHARITY Unr¢$trlcted funds 2.013,208 2.449,730 Total charlty funds 2.013,208 2,449,730 The notes on pages 910 13 form part of the financial slalemenls. The financial slalemenls on pages 5 10 13 we approved and aulhori5ed for issue by the Iruslees on signed on their behalf by.. Cltk. i..O.c.t....a.o.a.5....... and Robert Blowef Trustee Page 6
R.U.B. WHITE CHARITABLE TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Gèn8ral Informatlon, scopè and basls of th¢ flnanclal statomants The R.U.B. While Charitable Trusl is an unlncorporaled ¢harily consliluled under a deed ol selllemenl. The address of Ihe principal offi¢o1s given in Ihe refeienee and adminlslralive details section and the nature of the charily's operations and principal aclivilies are given in the trustees, report. The charity ¢onslilules a public benefit entity as defined by FRS 102. The financi81 slalemenls have been prepared in accoTdan¢e with Ac¢ounling and Repo.ng by Charities.. Slalemenl of Recommended Pr8¢1i¢e applicable lo Charities preparlng their accounts in accordance wilh the Financial Reporting Standafd applicable In Ihe UK and Republic of Iie18nd issued in October 2019. the Financial Reporting Standard applicable in Ihe United Kingdom and Republic of Ireland IFRS 1021, Ihe Charities Ad 2011, the Companies Acl 2006 and UK Generally A¢¢epled Accounting Practice. The financial slalemenls are prepared on a going concern basis under the hisloTl¢al ¢ost convenllon, modified lo include certain Items al fair value. The finanelal slalemenls are presented In slerling whl¢h is the functional currency ol the chafily and rounded lo the nearest £. The slgnificanl ac¢ounling policies applied in the preparation ol Ihese financial slalemenls are set out below. These policies have bee consislenlly applied lo all years presented unless olherwlse slated. Cash flow $tsl•ment The charity does not include a slalemenl of cash Ilows on the grounds thal11 Is applying FRS 102 Section 1A. In¢omlng resour¢8s All incoming resources are included in Ibe Statement ol Financial Acllvilies ISOFAI when the charity Is legally enlilled lo the income after any performance condilions have been met, the amount can be measured reliably and il is probable (hal the in¢ome will be received. Investment income is earned through holding assets for investment purposes such as shares. 11 in¢ludes dividends and interest. Where it is ol practicable lo Identify inveslmenl management costs Incurred within a scheme with reasonable accuracy the inveslmenl income is reported nel of these costs. It is included when the amounl can be measured reliably. Interest income is recognised using the effe¢live inleiesl method and dividend and ienl income is recognised as the charity's right lo receive payment is eslabllshed. R&sources &xpended All expenditure is a¢¢ounled for on an accruals basis and has been classified under headings Ihal aggregate all costs related lo the category. Expendilure is recognised where Ihere is a legal or conslru¢live obligation lo make payments lo Ihird parties, il is probable that the selllement will be required and the amount of Ihe obligation Can be measured reliably. 1115 calegorised under the following expendilure headings.. Raising funds,. Ihese include inveslrnenl management fees charged by Ihe charity's inveslmenl managers Charitable aclivities.. these include granls lo third parlies and the ¢osls ol administering the ch8rlly inclusive of governance costs Grants payable lo Ihird parties are within the charitable obje¢lives. Where un¢onditional gronls are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise lo a reasonable expeclalion that the recipient wlll receive the granls. Where granls are condS1ional relating lo performance then the granl is only accrued when any unfulfilled conditions are outside of the control ol the ¢haTIIy. Support and governance costs are Ihose that assist the work of the charily bul do not direclly represent charitable aclivilies. They are incurred directly in sUPPOrt ol expenditure on the objecls of the charity. Governance cosls are those incuired in the governance ol Ihe charity and primarily asso¢ialed with the conslilulion and s(alulory requirements. VAT The charity is not registered lor VAT and 15 unable lo recover VAT incurred. On this ba51s costs are recorded Inclusive of VAT wilhin the SOFA. Taxation The charity is considered lo pass the lesls sel out in seclions 521 to 536 Income Tax Act 2007 IITA 20071. as such no In¢ome tax is payable on the charity's aclivilies. Page 7
R.U.B. WHITE CHARITABLE TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Investmènts Inveslmenl8 are recognised initially al fair value whl¢h is normally Ihe Iransaclion prl¢e eKcluding Iransaclion costs. Subsequently, they are measured al fair value wilh changes re¢ognlsed in 'nel gains I Ilossesl on inveslmenls, in the SOFA if the shares are publicly Iraded or their fair value Can otheiSe be measured reliably. Other Investments are measured al cost less impairment. Vvhere investments are denomlnaled in currencies other than Slerling, Iransaclions are Iranslaled at Ihe fate prevailing 81 the dale ol the Iransacllon and year end values are calculated usbng the exchange rale prevailing 81 the year end. Debtor$ recelvablg and ¢redilors payabl• wlthln one year Debtors and creditors vth no staled inlttresl rale and receivable or payable within one year are iecorded al transaction pri. Any losses alising from Impairment are recognised in expenditure. Cash and cash equivalents Cash and cash equivalenls includes cash al bank and in hand and cash balances within the investment portfolio available for investment Iransaclion purposes. Fund accounllng Unreslricled Income funds are available for use al the discretion ol the trustees in furtherance ol the gener81 objectives of the charily and which have nol been designated for other purposes. Golng concern The financial slalemenls have been prepared on a going concern basis as the Iruslees believe that no material uncertainties exist. The Iruslees have considered the level ol funds held 8nd Ihe expe¢led level of income and expendllure for 12 months from authorising these rinanci81 slalemenls. The budgeted in¢ome and expenditure is sufficient wilh the level of reserves for (he charity lo be able lo continue as a going concern. Page 8
R.U.B. WHITE CHARITABLE TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS 1, Income Irom Invastments 31 Dec 2024 31 Dec 2023 Unre$trlct8d Unrestri¢t•d Tot81 Total Funds Funds Income from Investments Interest receivable 71,498 2,166 73,664 58,597 6.879 65,476 2. Expèndlture on ral$lng funds 31 Oèc 2024 31 Doe 2023 Unrestricted Unr&strlcted Total Total Funds Funds Investment management fees 14,220 14,220 3. Expendltur• on charitablg actlvltles 31 Dac 2024 31 D&¢ 2023 Unr&strlcted Unr¢$trlct8d Total Total Funds Funds Granls (see note 41 Tr8nsaclion charges Support and governan costs (see nole 51 475,000 45 40,642 515,687 495.000 65,728 560.728 4. Grants awardgd to Instllutions 31 Dèe 2024 Unr&$trlcted Total Funds 31 Dec 2023 Unre5trict•d Total Funds Disabllil Assislance Back Up Canlne Partners Dogs lor Good Fighl for Sight Henshaws Society for Blind People Orbis 10,000 10.000 10.000 10,000 10,000 10,000 60.000 10,000 10,000 10,000 10,000 10,000 10,000 60.000 Tolal caffied down 60,000 60.000 Page 9
R.U.B. WHITE CHARITABLE TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS 4. Grants awarded to Instltutlons Icontinuedl 31 O&c 2024 Unrestrlct*d Total Funds 31 Dec 2023 Unrestricted Total Fund$ Tol81 brotsghl down 60,000 60,000 Hos ices an Palli81ive Ca SI Francis Hospl¢e Sl Luke's Hospice Sl Clare's Hospice Farleigh Hospice Marle Curie Cancer Care Sue Ryder Greenwch & Bexley Communlly Hospice Hospice UK 20,000 20,000 20,000 20,000 20,000 20,000 20,000 70,000 150,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 10,OOQ 150,000 Medical Rese8rch Bowel Cancer UK Brain Tumour Charlty Brain Tumour Research Macmillan Cancer Support Medical Detection Dogs Proslale Cancer UK Target Ovarian Cancer 10,000 5,000 5,1100 10,000 10,000 10,000 10,000 60,000 10,000 5,000 5,000 10,000 10,000 10,000 10,000 60,000 oVeeaS Aid Brlllsh Red Cross- Gaza Appeal British Red Cross- Ukraine Appe81 Disasleis Emergency Commlllee - Tuikey-syria Earlhquake Appeal Disasters Emergency Commillee - Middle East Hurnanilarian Appeal Help Tbbel Tiusl Internalional Rescue Commi(lee- Alghanlslan Appeal Medicins Sans Fionlieres IUKI Molivalion Operation Smile UK Cohere Charity (Xavier Pfojecll MSF (Sudan Appeal} 10.000 10,000 10,000 20,000 10,000 10,000 10,000 10.000 10,000 10.000 10.000 5,000 10,000 10,000 10,000 5,000 10,000 75,000 95,000 Povert Relier Chelsea Physic Garden Community Outreach Crisi5 Help the Homeless Jamle's Farm Sl Mungo's Swilcht>a¢k The Big Issue Foundation The Conne¢lion ISI Martin in the Fieldl The Salvalion Army 5.000 15.000 15.000 10,000 15,000 15,000 1 S,000 15,000 15.000 120.000 5.000 15,000 15,000 10,000 15,000 15,000 15.000 15.000 15.000 120,000 Tol81 carried down 465.000 485,000 Page 10
R.U.B. WHITE CHARITABLE TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS 4. Grants awarded to Instltutlons Icontlnuedl 31 Dec 2024 Unreslrl¢t&d Total Funds 31 Dèc 2023 Unrastrlcted Total Funds Total brought down 465,000 485,000 Other Essex Communlty Foundation 10,000 10,000.00 10,000 10.000 Total grants 475,000 495,000 5. Svpport and governanc8 cost5 31 Dec 2024 31 Dgc 2023 Unrestrictèd Unr•strlcted Total Total Funds Funds Charles Russell Speechlys fees- adminislralion of the charily Charles Russell Speechlys fees- legal lees Trustees expenses Indepen(tenl examiner's fees (See nole 6.1 25,156 13,545 21 1,920 40,642 41,567 22,382 129 1.650 65,728 6. Independgnt &xamlnor's remuneratlon 31 Dec 2024 31 Dgc 2023 Unr•strlcted Unrèstrlct&d Total Total Funds Funds Independent examine¢s lees- examinalion fees Independent examiner's lees- olher accounting services Independent examiner's lees- under accrual prior year 1,560 240 120 1.920 1,440 210 1,650 7. R•lated party tr8nsactlons Fees payable lo Charles Russell Speechlys. for whom one of the charily's trustee5 is a consultant and another is a partner with the firm, are aulhorised under secllon 4 01 Ihe Iru$l deed dated 30 J8niJary 2009. Fees are included with support and governance costs in note 5 with £4.57112023'. £3,658) accrued the balance sheet dale in respect of fees payable lo Charles Russell Speechlys. The charity ha5 no employees, all odminislration being Carried out by the Iruslees. None of the Charity's Iruslee5 were remunerated with one Iiuslee receiving Ir8vel expenses lolalling £21 12023.. £1291. Page11
R.U.B. WHITE CHARITABLE TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS 8. Flx•d asset Investmonts- managèd funds 31 Dgc 2024 31 Dec 2023 Market value brought forward Addilions al ¢o$l Disposals al Carrying value GainllLossl on revaluation Mark¢t value cairlèd fonvard 2,423,864 8,716 1488.4911 1,848 1.945,937 2,387,699 2.353,703 12.420,501) 102,963 2,423,864 GaIn(losses) on investments.. 31 Doc 2024 31 D8c 2023 Unrealised gainslllossesl on Inveslmenls Realised g8inslllossesl on investments 1,848 3,657 5,505 102,963 48,283 151.246 9. Debtors 310ec 2024 31 Dèc 2023 Total Total Funds Funds Awued income- inleresl in¢ome on cash inveslmenls 10,064 10,064 4,641 4,641 10. Cr¥dltors: amounts falllng du& wlthln one year 31 Dèc 2024 31 Dec 2023 Total Total Funds Funds Accruals - independent examiner's lees Accruals - investment management fees Accruals- Charles Russell Speechlys lees Accrued grants 3,360 337 4,571 110,000 118,268 1,440 2.939 18.407 10,000 32,786 11. N&t movgment In funds Total fund$ brought forward Total In¢oming re$ources Total resourc9$ expèndéd Galn$l Ilossesl on investments Total funds Carried forward Unreslrlcled funds 2.449.730 2,449,730 73.664 73,664 1515,6911 1515,691} 5,505 5,505 2,013.208 2,013,208 Page 12
R.U.B. WHITE CHARITABLE TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS 12. Flnanclal InstrLFmenls The carrying amounts of Ihe charity's financial instruments are as folltsws". 310ac 2024 3109¢ 2023 Total Total Funds Fund$ Financial assets Measured al 1311 value Ihrough nel incomellexpendilurel.. Fixed asset investments 1,945,937 1,945,937 2,423,864 2,423.864 The income. expense, nel gains and nel losses allribulable lo the cha¥ity'5 financi81 Instruments are summari5ed as follows.. 31 De¢ 2024 31 Dec 2023 Unrestri¢t&d Unrestrlcted Total Total Funds Fund5 Income and expense Financial assets measured al lair value through nel incofflellexpendilurel Investment InMe Investment m3n8gemenl lees 71,498 141 71,494 58,597 114,2201 44,377 Net gains and losses {including changes In falr value) Financial assels measured al fair value through nel incomellexpendiluiel Unrealised gainslllossesl on Inveslmenls Realised gainslllossesl on investments 1,848 3,657 5,505 102.963 48,283 151,246 Fixed as5el investments are held at fail v3lue wlh valuations obtained usin918sl traded or closing midlbid market pii¢es as available. Page 13