Trustees' Annual Report for the period
Period start date Period end date Day Month Year Day Month Year From 12 March 2021 To 11 March 2022
Section A Reference and administration details
Charity name Pauline Meredith Charitable Trust
Other names charity is known by
Registered charity number (if any) 1139585
Charity's principal address Trustee Department 1[st] Floor, Tower Wharf Cheese Lane, Bristol Postcode BS2 0JJ
Names of the charity trustees who manage the charity
| 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 |
Trustee name | Office (if any) | Dates acted if not for whole **year ** |
Name of person (or body) entitled to appoint trustee (ifany) |
|---|---|---|---|---|
| Coutts & Co | To 05 July2021 | |||
| Ludlow Trust CompanyLimited |
From 05 July 2021 | |||
Names of the trustees for the charity, if any, (for example, any custodian trustees)
Name Dates acted if not for whole year
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March 2012
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Names and addresses of advisers (Optional information)
| Names and addresses of advisers (Optional information) | Names and addresses of advisers (Optional information) | Names and addresses of advisers (Optional information) |
|---|---|---|
| Type of adviser Name Address |
||
| Investment Managers | Coutts & Co | 440 The Strand, London, WC2R 0QS |
| Bankers | Coutts & Co | 440 The Strand, London, WC2R 0QS |
| Solicitors | TLT LLP | One Redcliffe Street, Bristol, BS1 6TP |
| Independent Examiner | Geoffrey Frost | Blue Spire Limited, Cawley Priory, South Pallant, Chichester, West Sussex, PO19 1SY |
Name of chief executive or names of senior staff members (Optional information)
Section B Structure, governance and management
Description of the charity’s trusts
Trust deed dated 13 December 2010, arising from a will dated 23 January Type of governing document 2003.
- (eg. trust deed, constitution)
Trust
How the charity is constituted
- (eg. trust, association, company)
Trustees are appointed by the existing trustees. Trustee selection methods
- (eg. appointed by, elected by)
Additional governance issues (Optional information)
You may choose to include additional information, where relevant, about:
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policies and procedures adopted for the induction and training of trustees;
-
the charity’s organisational structure and any wider network with which the charity works;
-
relationship with any related parties;
-
trustees’ consideration of major risks and the system and procedures to manage them.
Section C Objectives and activities
Summary of the objects of the charity set out in its governing document
The trustees shall apply the income of the charity and all or such part or parts of the capital as they think fit for or towards such charitable purposes as the trustees shall in their absolute discretion think fit.
In furthering the objects it is requested in the will the trustees consider donations to the following charities: Barnardos, Swan Lifeline, Windsor Hospice, The Woodland Trust, Hydestile Animal Hospital, The People’s Dispensary for Sick Animals and Greenpeace Environmental Trust.
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In furtherance of the charity’s objects for the public benefit the trustees provides grants. In determining the charity’s activities the trustees have had regard to the Charity Commission’s guidance on public benefit.
Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)
Additional details of objectives and activities (Optional information)
You may choose to include further statements, where relevant, about:
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policy on grantmaking;
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policy programme related investment;
-
contribution made by volunteers.
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March 2012
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Section D Achievements and performance
Summary of the main During the year under review the charity made no grants. achievements of the charity during the year
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Section E Financial review
Brief statement of the
charity’s policy on reserves
At the end of the reporting period the charity had free reserves amounting to £60,095 (2021: £7,468).
In addition to the free reserves the charity has bank balances of £58,563 (2021: £68,221) and investment assets of £1,906,133 within the expendable endowment fund.
The Trustees pursue a policy of maintaining a free reserve available to be spent in the furtherance of the charity’s objectives, as well as covering future needs, opportunities, contingencies and risks.
Details of any funds materially in deficit
Further financial review details (Optional information)
You may choose to include additional information, where relevant about:
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the charity’s principal sources of funds (including any fundraising);
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how expenditure has supported the key objectives of the charity;
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investment policy and objectives including any ethical investment policy adopted.
Section F Other optional information
Section G Declaration
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
Signature(s)
Full name(s)[Chris Thurlow ] On behalf of Ludlow Trust Company Limited Position (eg Secretary, Chair, etc)
Date 12 January 2023
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March 2012
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| Charity Name | No (if any) | |||
|---|---|---|---|---|
| Pauline Meredith Charitable Trust | 1139585 | |||
| Receipts andpayments accounts | CC16a | |||
| For the period from |
Period start date 12 March 2021 |
To Period end date 11 March 2022 |
Section A Receipts and payments
| A1 Receipts | Unrestricted funds to the nearest £ 20,928 31,689 27 - - - - - 52,644 - - - 52,644 - - 780 1,583 1,043 10,689 - - - 14,095 - - - 14,095 38,549 14,078 7,468 60,095 |
Restricted funds to the nearest £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - |
Endowment funds to the nearest £ - - - - - - - - - 813,233 - 813,233 813,233 - 21,248 - - - - - - - 21,248 787,565 - 787,565 808,813 4,420 (14,078) 68,221 58,563 |
Total funds to the nearest £ 20,928 31,689 27 - - - - - 52,644 813,233 - 813,233 865,877 - 21,248 780 1,583 1,043 10,689 - - - 35,343 787,565 - 787,565 822,908 42,969 |
Total funds to the nearest £ 20,928 31,689 27 - - - - - 52,644 813,233 - 813,233 865,877 - 21,248 780 1,583 1,043 10,689 - - - 35,343 787,565 - 787,565 822,908 42,969 |
Last year to the nearest £ |
|---|---|---|---|---|---|---|
| Rental income | 20,928 | 16,340 | ||||
| Investment income | 31,689 | 28,569 | ||||
| Income from bank interest | 27 | 143 | ||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| Sub total(Gross income for AR) |
52,644 | 45,052 | ||||
| A2 Asset and investment sales, (see table). |
||||||
| Sale of investments | - | 1,340,649 | ||||
| Sale ofproperty | - | - | ||||
| Sub total | - | 1,340,649 | ||||
| Total receipts A3 Payments |
||||||
| 1,385,701 | ||||||
| Grants awarded | - | 67,116 | ||||
| Inv mgmt and admin | - | 31,043 | ||||
| Independent examiner | 780 | 740 | ||||
| Managingagents fees | 1,583 | 1,215 | ||||
| Insurance | 1,043 | 1,043 | ||||
| Administrative services | 10,689 | - | ||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| **Sub total ** | 14,095 | 101,157 | ||||
| A4 Asset and investment purchases, (see table) |
||||||
| Investmentpurchases | - | 1,309,754 | ||||
| - | ||||||
| **Sub total ** | - | 1,309,754 | ||||
| Total payments Net of receipts/(payments) A5 Transfers between funds A6 Cash funds last year end **Cash funds this year end ** |
||||||
| 1,410,911 | ||||||
| 38,549 | - | 4,420 | 42,969 | (25,210) | ||
| 14,078 | - | (14,078) | - | - | ||
| 7,468 | - | 68,221 | 75,689 | 100,899 | ||
| 60,095 | - | 58,563 | 118,658 | 75,689 |
CCXX R6 accounts (SS)
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| Section B Statement of assets and liabilities at the end of the period | Section B Statement of assets and liabilities at the end of the period | Section B Statement of assets and liabilities at the end of the period | Endowment funds to nearest £ 58,563 - - - - - 58,563 OK Endowment funds to nearest £ - - - - - - Current value (optional) 1,906,133 175,000 - - - Current value (optional) - - - - - - - When due (optional) Date of approval 12 January 2023 |
|---|---|---|---|
| Categories Signed by one or two trustees on behalf of all the trustees B5 Liabilities B4 Assets retained for the charity’s own use B3 Investment assets B2 Other monetary assets B1 Cash funds |
Signature Inv mgmt and admin Independent examination Administrative services Details Details Details Investments 66 High Street, Sunninghill Details (agree balances with receipts and payments account(s)) Capital account Income account 2 Reserve account 2 Total cash funds Income account Reserve account Capital account 2 |
Unrestricted funds Restricted funds to nearest £ to nearest £ - - 60,095 - - - - - - - - - 60,095 - OK OK Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - - - - - - - - - Fund to which asset belongs Cost (optional) Endowment - Endowment - - - - Fund to which asset belongs Cost (optional) - - - - - - - Fund to which liability relates Amount due (optional) Endowment 1,854 Unrestricted 780 Unrestricted 4,217 - - Print Name Chris Thurlow On behalf of Ludlow Trust Company Limited |
CCXX R7 accounts (SS)
7
Section C Notes to the Accounts
C1 Nature and purpose of funds (may be Expendable endowment funds are those which are required to be invested to produce income but which may be stated on analysis of funds worksheets) transferred to unrestricted funds at the discretion of the trustees in order that they may be expended in furtherance of the charity's objectives. Unrestricted income funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. C2 Grants to institutions Recipient - 1 payment unless annotated £ - C3 Related party transactions No trustee received any remuneration nor reimbiursed any expenses in the year under review. During the year under review Coutts & Co, a trustee of the charity to July 2021, were paid fees for the provision of administration and investment management services amounting to £16,468 in the period of trusteeship. Ludlow Trust Company Limited was appointed trustee in July 2021 and was paid £10,689 for administrative services between appointment and the reporting date. These fees are authorised under clause 14 of the trust deed.
CCXX R8 accounts (SS)
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Independent Examiner's Report to the Trustees of Pauline Meredith Charitable Trust
I report to the charity trustees on my examination of the accounts of the charity for the year ended 11 March 2022 as set out on pages 6 to 8.
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 section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention 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 2. the accounts do not accord with those records.
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.
12 January 2023
Geoffrey Frost BSc(Hons) FCA Date Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY
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