## **HANNAH VIVIENNE DELMA JAMES DECEASED CHARITABLE TRUST** **REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2020** **Charity Number 1135881** **HANNAH VIVIENNE DELMA JAMES DECEASED CHARITABLE TRUST** ## **CONTENTS PAGE** ||**Pages**| |---|---| |Reference and Administration Details|1| |Report of the Trustee|2 - 4| |Independent Examiner’s Report|5| |Receipts and Payments Account|6| |Statement of Assets and Liabilities|7| |Appendix 1|8| **HANNAH VIVIENNE DELMA JAMES DECEASED CHARITABLE TRUST** **REFERENCE AND ADMINISTRATION DETAILS** |**Corporate Trustee**|HSBC Trust Company (UK) Limited| |---|---| |**Current Directors of Corporate Trustee**J Coyle|| ||P M Spencer| ||J Hewitson| |**Trust Manager**|S James| |**Principal Office**|Forum 1| ||The Forum Parkway| ||Whiteley| ||Fareham| ||Hampshire| ||PO15 7PA| |**Independent Examiner**|F Millar ACA| ||RSM UK Tax and Accounting Limited| ||Highfield Court| ||Tollgate| ||Chandlers Ford| ||Eastleigh| ||Hampshire| ||SO53 3TY| |**Bankers**|HSBC Bank plc| ||Forum 1| ||The Forum Parkway| ||Whiteley| ||Fareham| ||Hampshire| ||PO15 7PA| |**Investment Manager**|HSBC UK Bank Plc| ||1 Centenary Square| ||Birmingham| ||B1 1HQ| - 1 - **HANNAH VIVIENNE DELMA JAMES DECEASED CHARITABLE TRUST** ## **REPORT OF THE TRUSTEE FOR THE YEAR ENDED 5 APRIL 2020** The Trustee presents their report together with the financial statements of Hannah Vivienne Delma James Deceased Charitable Trust for the year ended 5 April 2020, which have been prepared on a receipts and payments basis. The financial statements have been prepared in accordance with the charity’s constitution and applicable law. The purchase and sale of investments results from the day to day management of the investment portfolio by the Investment Manager. In accordance with the Charities Act, the financial statements have been prepared on the receipts and payments basis given that the definition of gross income excludes the receipt of any endowment, loans and proceeds from the sale of investments or fixed assets. ## **Structure, government and management** Hannah Vivienne Delma James Deceased Charitable Trust is an unincorporated trust and is constituted under the terms of the trust deed dated 13 July 2009, set up by the late Mrs Hannah Vivienne Delma James. The trust is a registered charity (no. 1135881). The Corporate Trustee has appointed a designated trust manager to look after the charity. The Investment Manager reviews the performance and provides recommendations on the structure of the investment portfolios. The power to appoint additional Trustees is vested in the current Trustee, and is exercisable in writing. Should new Trustees be appointed, the existing Trustee would take responsibility of their induction. The Trustee has examined the major strategic, business and operational risks which the charity faces and confirms that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to mitigate these risks. The main risk in the year was considered to be the variability of investment returns. ## **Objectives and activities** The objectives of the charity are to pay or to apply the income of the charity, and as much of the capital funds as the Trustee in its absolute discretion thinks fit, for the benefit of such registered, excepted and exempt charities as the Trustee in its sole-discretion shall decide, in accordance with the terms of the governing document. The charity awards grants to charitable institutions. The Trustee reviews applications for grants and grants are awarded at the discretion of the Trustee. ## **Achievements and performance** During the year 8 grants totalling £45,197 (2019: 8 grants totalling £35,244) were awarded to a variety of charitable institutions under the terms of the governing document. No grants were awarded to individuals in either year. The beneficiaries are disclosed in Appendix 1 of the financial statements. ## **Financial review** The charity received donations under the terms of the trust deed and subsequently received further funds from the estate of the late Mrs Hannah Vivienne Delma James. The trust is reliant on the investment income generated by these funds. The fund generated investment income of £36,783 (2019: £37,463) during the year to fund its charitable activities. The expenditure on charitable activities was £53,830 (2019: £43,565), of which £45,197 (2019: £35,244) was charitable expenditure in the form of grants to charitable institutions. - 2 - **HANNAH VIVIENNE DELMA JAMES DECEASED CHARITABLE TRUST** ## **REPORT OF THE TRUSTEE cont. FOR THE YEAR ENDED 5 APRIL 2020** ## **Investment policy** In accordance with the trust deed, the Trustee has the power to invest in such stocks, shares, investments and property as they see fit. The Trustee engaged HSBC UK Bank plc as Investment Manager. The policy is to adopt a low to medium risk investment strategy to protect, in absolute terms, the capital value of the fund whilst producing a sustainable and growing level of income, and also providing the potential for longer term growth of capital in real terms. ## **Reserves policy** The unrestricted funds, which are the free reserves of the charity and which are represented by the income arising, are paid over to beneficiaries throughout the year. It is not the policy of the trust to maintain specific reserves. The expendable endowment funds represent those assets which are held permanently by the charity and are principally investments. Income arising on the endowment fund can be used in accordance with the objectives of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund. The Trustee has the power to convert this fund into income. ## **Public benefit** We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the Trustee considers how planned activities will contribute to the aims and objectives they have set. ## **Plans for the future** The Trustee intends to continue providing grants in a similar way to the recent past whilst retaining flexibility as to the timing and scale of grant making. ## **Related parties** The Corporate Trustee and the Investment Manager are both wholly owned subsidiaries of HSBC Holdings plc. In addition to the fees shown on page 6, as a result of the acquisition and disposal of investments, the charity pays transaction charges to HSBC Bank plc. The charges are calculated on a sliding scale at a percentage of the transactions value plus VAT and are added to or deducted from the cost of the investments or the disposal proceeds in accordance with UK standard accounting practice. - 3 - **HANNAH VIVIENNE DELMA JAMES DECEASED CHARITABLE TRUST** ## **REPORT OF THE TRUSTEE cont. FOR THE YEAR ENDED 5 APRIL 2020** ## **Statement of Trustee’s responsibilities in relation to the financial statements** The law applicable to charities in England and Wales requires the Trustee to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, giving a true and fair view, the Trustee should follow best practice and: - select suitable accounting policies and then apply them consistently; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustee is responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ascertain the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) 2008 Regulations and the provisions of the trust deed. The Trustee is responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Trustee and signed on its behalf: ………………………………………. HSBC Trust Company (UK) Limited 25/01/2021 Date:………………………………… - 4 - HANNAH VIVIENNE DELMA JAMES DECEASED CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEE OF HANNAH VMENNE DELMA JAMES DECEASED CHARrrABLE TRUST I report to the Tmstee on my examination of the financial statements of Hannah Wmenne Delma James Deceased Charitable Trust for the year ended 5 Apr￿ 2020, which are set out on pages 6 to Responslbilities and basis of report As the Trustee of the charity you are responsible for the preparation of the financial statements in accordance with th6 réquirements of the Charities Act 2011 ('the 2011 Act.). I report in respect of my examination of the charit￿$ financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145 (5)(b) of the 2011 ACL An independent examination does not involve gathering all the eviderK* that woukl be required in an audit and Consequentty does not cover all the matters that an auditor considers in giving their opinion on the financial statsments. The planniThJ and conduct of an audf( goes beyond the limited assurance that an independent examination can provide. Consequendy, l express no opinion as to whether the financial statements present a 'true and fair vievl and my report is limtted to those specific matters set out in the independent examinerfs statement Independent ExamIne￿9 statement I have completed my examination. I confinn that no material matters have come to my attention in connection wtth the examination giving me reasonabte caus8 to beliéve that in any material respect.. 1. accounting records were not kw in respert of the charty as required by section 130 of the 2011 Art or 2. the financial statements do not accord with those records.. or 3. the financial statements do not compfy with the applicable requirwnents concernlng the form and content of financial statements set out in the Charitses IA¢counts and Reports) Regulations 2008 other than any requirement that the financial ststemenls give a 'true and lair 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 understsnding of the financial ststements to be reached. Frances Millar ACA The Institute of Chartered Accountants in England and Wales Chartered Accountant On behalf of RSM UK Tax and Accounting Limited Chartered Accountants Highfield Court Tollgate Chandlers Ford Eastleigh Hampshir8 S053 3TY Date..&.￿.. JO*UL￿.9 I **HANNAH VIVIENNE DELMA JAMES DECEASED CHARITABLE TRUST** ## **RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 5 APRIL 2020** |**Receipts**
**£**
Investment income
36,783
Tax refund
-
36,783
**Investment sale proceeds**
Proceeds from sale of investments
-
**Total receipts**
36,783
**Payments**
**Cost of generating funds**
Investment service charge
-
**Charitable activities**
Grants paid
45,197
Other allocated costs
8,633
**Governance costs**
Independent examiner's fee
2,868
56,698
**Investment purchases**
Payments for purchase of investments
-
**Total payments**
56,698
Net receipts / (payments)
(19,915)
Transfer of funds
10,617
Cash invested at 6 April 2019
10,665
Cash invested at 5 April 2020
1,367
**Unrestricted**
**funds**|**£**
-
-
-
651,395
651,395
13,043
-
-
-
13,043
628,567
641,610
9,785
(10,617)
20,624
19,792
**Endowment**
**funds**|**£**
**£**
**36,783**
37,463
**-**
431
**36,783**
37,894
**651,395**
507,599
**688,178**
545,493
**13,043**
12,462
**45,197**
35,244
**8,633**
8,321
**2,868**
2,390
**69,741**
58,417
**628,567**
637,280
**698,308**
695,697
**(10,130)**
(150,204)
**-**
**-**
**31,289**
181,493
**21,159**
31,289
**Total**
**2020**
**Total**
**2019**| |---|---|---| These unaudited financial statements have been subjected to independent examination. See report on page 5. - 6 - **HANNAH VIVIENNE DELMA JAMES DECEASED CHARITABLE TRUST** ## **STATEMENT OF ASSETS AND LIABILITIES AT 5 APRIL 2020** ||**Unrestricted**|**Endowment**|**Total**|**Total**| |---|---|---|---|---| ||**funds**|**funds**|**2020**|**2019**| ||**£**|**£**|**£**|**£**| |**Investments**||||| |UK Fixed Interest Securities|-|174,999|**174,999**|119,809| |Overseas Fixed Interest Securities|-|190,561|**190,561**|268,502| |UK Equities|-|20,717|**20,717**|200,588| |Overseas Equities|-|404,704|**404,704**|525,399| |Alternative Investment|-|424,517|**424,517**|73,711| |Other Investments|-|-|**-**|206,933| |Other Trust Assets|-|1|**1**|1| |Cash|1,367|19,792|**21,159**|31,289| |**Total assets**|1,367|1,235,291|**1,236,658**|1,426,232| |**Liabilities**||||| |Professional fees payable|2,960|-|**2,960**|2,868| 25/01/2021 Approved by the Trustee and authorised for issue on ……………………… and signed on its behalf: …………………………. HSBC Trust Company (UK) Limited These unaudited financial statements have been subjected to independent examination. See report on page 5. - 7 - **HANNAH VIVIENNE DELMA JAMES DECEASED CHARITABLE TRUST** ## **APPENDIX 1 BREAKDOWN OF CHARITABLE GRANTS FOR THE YEAR ENDED 5 APRIL 2020** |**Institutions**
Leukaemia and Lymphoma Society
Multiple Sclerosis Society|**Number of Grants**
**Amount**
**£**
4
22,599
4
22,598
**8**
**45,197**| |---|---| - 8 -