**Registered number: 07516569 Charity number: 1141727**
## **This draft produced on 31/1/2025 17:18**
KAREN MORRIS MEMORIAL TRUST
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
##
**This draft produced on 31/1/2025 17:18**
## **KAREN MORRIS MEMORIAL TRUST**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the company, its trustees and advisers**|1|
|**Trustees' report**|2 - 5|
|**Independent auditor's report on the financial statements**|6 - 9|
|**Statement of financial activities**|10|
|**Balance sheet**|11 - 12|
|**Notes to the financial statements**|13 - 21|
|DRAFT||
**This draft produced on 31/1/2025 17:18**
## **KAREN MORRIS MEMORIAL TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MAY 2024**
|**Trustees**|A L Banes|
|---|---|
||L S Block|
||J B Francken|
||D J Jepps|
||S D Levitt|
||S Morris MBE|
||J S Segal|
||N A Spencer|
||A E Virchis|
|DRAFT
**Company registered**
**number**
07516569
**Charity registered**
**number**
1141727
**Registered office**
32 Haverhill Road
Stapleford
Cambridge
CB22 5BX
**Company secretary**
D J Jepps
**Independent auditor**
Blick Rothenberg Audit LLP
Chartered Accountants
16 Great Queen Street
Covent Garden
London
WC2B 5AH
**Bankers**
National Westminister Bank
North Finchley Branch
**Solicitors**
Howard Kennedy
No. 1 London Bridge
London
SE1 9BG||
Page 1
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**KAREN MORRIS MEMORIAL TRUST**
**TRUSTEES' REPORT FOR THE YEAR ENDED 31 MAY 2024**
The trustees, who are also directors of the charitable company for the purposes of the company law, present their annual report together with the audited financial statements of the Karen Morris Memorial Trust (the charitable company) for the year year. ended 31 May 2024. The trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the company qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 (strategic report and directors' report) Regulations 2013 has been omitted.
## **Objectives and activities**
## **a. Policies and objectives**
The objectives and principal activities of the charitable company are to provide relief and facilities for people affected by leukaemia. The charitable company is committed to providing ‘Karen’s Home from Home’ for family members of those undergoing treatment at Hammersmith, Cambridge, Birmingham and Oxford Hospitals, and for providing other appropriate support for haematology patients at leading British hospitals.
## **Achievements and performance**
## **a. Review of activities**
The charitable company has continued to support 'Karen's Home from Home' at Hammersmith, Cambridge, Oxford and Birmingham hospitals during the year. This has allowed its beneficiaries to be close to family during hospital treatment. The importance of family support during a period of illness is well recognised; research shows that a strong bond between patient and family can be a crucial factor in the success of a treatment.
Incoming resources during the period were £648,326 (2023: £201,892). Resources expended amounted to £202,995 (2023: £171,467) of which £4,554 (2023: £3,627) was spent on management and administration and £2,854 (2023: £1,980) was spent on direct event costs and the purchase of merchandise necessary to provide that part of the charitable company’s income.
Resources expended on charitable activities include £80,271 (2023: £68,798) on 'Karen’s Home from Home' in Hammersmith, £24,099 (2023: £23,743) on 'Karen's Home from Home' in Birmingham, £42,704 (2023: £29,480) on 'Karen’s Home from Home' in Oxford and £48,512 (2023: £43,839) on 'Karen's Home from Home' in Cambridge.
The trustees are committed to continuing the current funding activities for the foreseeable future.
## **b. Investment policy and performance**
The charitable company's investment policy is to invest in corporate bonds of established UK companies thereby earning secure investment returns.
Investments are made on the advice of the charitable company's professional investment advisors, Credo Capital Plc. The trustees monitor the performance of the investment portfolio on an ongoing basis and the returns received during the period under review are considered to be satisfactory.
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**KAREN MORRIS MEMORIAL TRUST**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024**
## **Achievements and performance (continued)**
## **c. Risk management**
The trustees actively review the major risks which the charitable company faces on a regular basis and believe that maintaining reserves at current levels combined with an annual review of the controls over key financial systems will provide sufficient resources in the event of adverse conditions.
## **Financial review**
## **a. Reserves policy**
The charitable company is holding unrestricted funds to pay for ‘Karen’s Homes from Home’ and other projects, as detailed above. The trustees have adopted a policy to hold reserves sufficient to fund approximately five years committed expenditure on charitable activities. Funds were maintained at this level during the year. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors. As at 31 May 2024, restricted funds amounted to £500,000 (2023: £500,000) which are to be used to fund a new 'Karen's Home from Home'.
## **b. Future developments**
The trustees will continue to work towards the aims of the charitable company and to raise appropriate funds and donations. The charitable company are in discussions for a fifth 'Karen's Home from Home' in England to widen the provision of facilities for leukaemia patients and their families.
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**KAREN MORRIS MEMORIAL TRUST**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024**
## **Structure, governance and management**
## **a. Organisational structure and decision-making policies**
Karen Morris Memorial Trust is a charitable company limited by guarantee, registration number 07516569. It is also registered with the charity commission, registration number 1141727. Its registered office is 32 Haverhill Road, Stapleford, Cambridge, England, CB22 5BX. The charitable company's governing instrument is its Memorandum and Articles of Association adopted on incorporation on 3 February 2011.
The trustees who held office during the year were:
A L Banes L S Block J B Francken D J Jepps S D Levitt S I Morris MBE J S Segal N A Spencer A E Virchis Rabbi R Mariner (deceased 16 August 2024)
The trustees meet regularly and major decisions concerning the charitable company are made by the trustees at the meetings. New trustees are appointed by existing trustees by way of resolution passed at an ordinary meeting. The charitable company's governing document requires a minimum of three trustees.
The current trustees are responsible for the induction of any new trustees which involves awareness of trustee responsibilities, the governing document, administrative procedure and the history of the charity. A new trustee would receive a copy of the previous year's report and accounts.
The trustees are advised on investment opportunities by independent advisers as detailed above.
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**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024**
## **KAREN MORRIS MEMORIAL TRUST**
## **Statement of trustees' responsibilities**
The trustees (who are also the directors of the company for the purposes of company law) 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).
Company law requires the trustees to prepare financial statements for each financial year. Under company law, the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, 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 of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to 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 company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Disclosure of information to auditor**
Each of the persons who are trustees at the time when this trustees' report is approved has confirmed that:
- so far as that trustee is aware, there is no relevant audit information of which the charity's auditor is unaware, and
- that trustee has taken all the steps that ought to have been taken as a trustee in order to be aware of any relevant audit information and to establish that the charity's auditor is aware of that information.
Approved by order of the members of the board of trustees and signed on their behalf by:
## **S Morris MBE**
Trustee
Date:
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## **KAREN MORRIS MEMORIAL TRUST**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF KAREN MORRIS MEMORIAL TRUST**
## **Opinion**
We have audited the financial statements of Karen Morris Memorial Trust (the 'charitable company') for the year ended 31 May 2024 which comprise the statement of financial activities, the balance sheet and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 May 2024 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011. **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
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## **KAREN MORRIS MEMORIAL TRUST**
**INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF KAREN MORRIS MEMORIAL TRUST (CONTINUED)**
## **Other information**
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Matters on which we are required to report by exception**
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report. We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
- the information given in the trustees' report is inconsistent in any material respect with the financial statements; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
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## **KAREN MORRIS MEMORIAL TRUST**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF KAREN MORRIS MEMORIAL TRUST (CONTINUED)**
## **Auditor's responsibilities for the audit of the financial statements**
We have been appointed as the auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with trustees and other management, and from our commercial knowledge and experience of the charity sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity, including the Charities Act 2011, taxation legislation and data protection, and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested a sample of journal entries to identify unusual transactions; and
- investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance; and
- enquiring of management as to actual and potential litigation and claims.
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## **KAREN MORRIS MEMORIAL TRUST**
## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF KAREN MORRIS MEMORIAL TRUST (CONTINUED)**
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
## **Use of our report**
This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed. **Christopher Shepherd (senior statutory auditor)**
for and on behalf of **Blick Rothenberg Audit LLP**
Chartered Accountants Statutory Auditor 16 Great Queen Street Covent Garden London WC2B 5AH
Date:
Blick Rothenberg Audit LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
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## **KAREN MORRIS MEMORIAL TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MAY 2024**
|D
**Note**
**Income from:**
Donations and legacies
3
Other trading activities
4
Investments
5
**Total income**
**Expenditure on:**
Raising funds
6
Charitable activities
7
Other expenditure
8
**Total expenditure**
**Net income before net gains/(losses)**
**on investments**
Net gains/(losses) on investments
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|RAF
**Unrestricted**
**funds**
**2024**
**£**
**590,401**
**41,542**
**16,383**
**648,326**
**2,854**
**195,586**
**4,555**
**202,995**
**445,331**
**89,673**
**535,004**
**440,846**
**535,004**
**975,850**|T
**Restricted**
**funds**
**2024**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**500,000**
**-**
**500,000**|**Total**
**funds**
**2024**
**£**
**590,401**
**41,542**
**16,383**
**648,326**
**2,854**
**195,586**
**4,555**
**202,995**
**445,331**
**89,673**
**535,004**
**940,846**
**535,004**
**1,475,850**|Total
funds
2023
£
135,172
38,110
28,610
201,892
1,980
165,860
3,627
171,467
30,425
(36,878)
(6,453)
947,299
(6,453)
940,846|
|---|---|---|---|---|
The notes on pages 13 to 21 form part of these financial statements.
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## **KAREN MORRIS MEMORIAL TRUST**
## **BALANCE SHEET AS AT 31 MAY 2024**
|DR
**Note**
**Fixed assets**
Investments
10
**Current assets**
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within one
year
12
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Charity funds**
Restricted funds
13
Unrestricted funds
13
**Total funds**|AFT
**278,149**
**295,623**
**573,772**
**(90,399)**|**2024**
**£**
**992,477**
**992,477**
**483,373**
**1,475,850**
**1,475,850**
**500,000**
**975,850**
**1,475,850**|17,255
72,609
89,864
(45,674)|2023
£
896,656|
|---|---|---|---|---|
|||||896,656
44,190|
|||||940,846|
||||||
|||||940,846|
|||||500,000
440,846|
||||||
|||||940,846|
||||||
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## **KAREN MORRIS MEMORIAL TRUST**
**BALANCE SHEET (CONTINUED) AS AT 31 MAY 2024**
The entity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
However, an audit is required in accordance with section 145 of the Charities Act 2011.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the trustees and signed on their behalf by:
**----- Start of picture text -----**
DRAFT
**----- End of picture text -----**
**S Morris MBE** Trustee
Date:
**----- Start of picture text -----**
The notes on pages 13 to 21 form part of these financial statements.
**----- End of picture text -----**
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**KAREN MORRIS MEMORIAL TRUST**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024**
## **1. General information**
The charity is a company limited by guarantee and is incorporated in England and Wales. Its registered office is 32 Haverhill Road, Stapleford, Cambridge, England, CB22 5BX.
The financial statements are presented in Sterling (£).
The formal objectives of the charitable company are to provide relief and facilities for people affected by leukaemia.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Karen Morris Memorial Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The following principal accounting policies have been applied:
## **2.2 Going concern**
After making enquiries, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
## **2.3 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
## **2.4 Income**
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
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**KAREN MORRIS MEMORIAL TRUST**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024**
## **2. Accounting policies (continued)**
## **2.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to make payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charitable company and include audit fees and costs linked to the strategic management of the charitable company.
## **2.6 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading ‘'gains/(losses) on investments" in the statement of financial activities incorporating income and expenditure account.
## **2.7 Operating leases**
Rentals paid under operating leases are charged to the statement of financial activities on a straightline basis over the lease term.
## **2.8 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.9 Creditors and provisions**
Creditors are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
## **2.10 Financial instruments**
The charitable company only has current financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Charitable activities expenditure comprises those costs incurred by the charitable company in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
All expenditure is inclusive of irrecoverable VAT.
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## **KAREN MORRIS MEMORIAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024**
## **3. Income from donations**
**----- Start of picture text -----**
Unrestricted Total
funds funds
2024 2024
£ £
Donations 590,401 590,401
Unrestricted Total
funds funds
2023 2023
£ £
Donations 135,172 135,172
4. Fundraising income
Income from fundraising events
Unrestricted Total
funds funds
2024 2024
£ £
Events income 41,542 41,542
Unrestricted Total
funds funds
2023 2023
£ £
Events income 38,110 38,110
DRAFT
**----- End of picture text -----**
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## **KAREN MORRIS MEMORIAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024**
**----- Start of picture text -----**
5. Investment income
Unrestricted Total
funds funds
2024 2024
£ £
Investment income 16,383 16,383
Unrestricted Total
funds funds
2023 2023
£ £
Investment income 28,610 28,610
6. Costs of raising funds
Unrestricted Total
funds funds
2024 2024
£ £
Events expense 2,854 2,854
Unrestricted Total
funds funds
2023 2023
£ £
Events expense 1,980 1,980
DRAFT
**----- End of picture text -----**
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**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024**
## **KAREN MORRIS MEMORIAL TRUST**
## **7. Analysis of expenditure on charitable activities**
|DRAFT
**Unrestricted**
**funds**
**2024**
**£**
Karen's Home from Home, Birmingham
24,099
Karen's Home from Home, Hammersmith
80,271
Karen's Home from Home, Oxford
42,704
Karen's Home from Home, Cambridge
48,512
195,586
Unrestricted
funds
2023
£
Karen's Home from Home, Birmingham
23,743
Karen's Home from Home, Hammersmith
68,798
Karen's Home from Home, Oxford
29,480
Karen's Home from Home, Cambridge
43,839
165,860|**Total**
**2024**
**£**
**24,099**
**80,271**
**42,704**
**48,512**|
|---|---|
||**195,586**|
||Total
2023
£
23,743
68,798
29,480
43,839|
||165,860|
|||
## **8. Governance costs**
|**Unrestricted**
**funds**
**2024**
**£**
Postage and publicity
1,054
JustGiving fees
504
Investment management costs
2,997
4,555|**Total**
**funds**
**2024**
**£**
**1,054**
**504**
**2,997**|
|---|---|
||**4,555**|
Page 17
**This draft produced on 31/1/2025 17:18**
## **KAREN MORRIS MEMORIAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024**
## **8. Governance costs (continued)**
|Postage and publicity
JustGiving fees
Investment management costs|Unrestricted
funds
2023
£
675
216
2,736
3,627|Total
funds
2023
£
675
216
2,736
3,627|
|---|---|---|
## **9. Employees and auditor's remuneration**
There were no employees during the year except the trustees of the charity. No trustee received any remuneration or reimbursement of expenses during the year. The auditor charged no fee for the audit of the financial statements.
|DR
**10.**
**Investments**
**Cost or valuation**
At 1 June 2023
Additions
Disposals
Revaluations
At 31 May 2024
**Net book value**
At 31 May 2024
At 31 May 2023|**Listed**
**securities**
**£**
**896,656**
**598,091**
**(591,943)**
**89,673**|
|---|---|
||**992,477**|
||**992,477**|
||896,656|
Page 18
**This draft produced on 31/1/2025 17:18**
## **KAREN MORRIS MEMORIAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024**
## **Material listed investments**
|DRAFT
Travis Perkins 4.5%
Roche Finance Euro 5.375%
Fundrock Partners Credo Dynamic
Xtrackers MSCI
BP Capital Markets 4.24%
General Accident 8.875%
TP Icap 5.25%
Investec 9.125%
Tesco 3.322%
Canary Wharf 3.375%
Pinewood Ginance 3.25%
Vodafone 4.875%
Admiral Group 5.5%
Cooperative Group 5.125%
IG Group holdings 3.125%
Marks & Spencer 3.75%
United Kingdom Treasury Bill due 26/06/2023
United Kingdom Treasury Bill due 16/10/2023
United Kingdom Treasury Bill due 09/09/24
United Kingdom Treasury Bill due 23/09/24
United Kingdom Treasury Bill due 21/10/24
Glencore Finance 3.125%
**11.**
**Debtors**
**Due within one year**
Other debtors
Prepayments and accrued income|**2024**
**£**
**-**
**-**
**414,040**
**76,141**
**47,497**
**39,450**
**29,409**
**52,940**
**-**
**-**
**-**
**48,282**
**24,979**
**-**
**34,632**
**-**
**-**
**-**
**49,305**
**39,366**
**98,028**
**38,408**
**992,477**
**2024**
**£**
**4,087**
**274,062**
**278,149**|2023
£
19,798
45,007
299,207
62,288
44,896
35,925
27,994
36,716
20,423
13,502
32,751
46,445
24,635
24,895
30,502
22,869
49,875
58,928
-
-
-
-|
|---|---|---|
|||896,656|
|||2023
£
3,600
13,655|
||||
|||17,255|
Page 19
**This draft produced on 31/1/2025 17:18**
## **KAREN MORRIS MEMORIAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024**
## **12. Creditors: amounts falling due within one year**
|DR
Trade creditors
Accruals
**Statement of funds**
**Statement of funds - current year**
**Balance at 1**
**June 2023**
**£**
**Unrestricted funds**
General Funds - all funds
**440,846**
**Restricted funds**
Restricted Funds - all funds
**500,000**
**Total of funds**
**940,846**
**Statement of funds - prior year**
Balance at
1 June 2022
£
**Unrestricted funds**
General Funds - all funds
447,299
**Restricted funds**
Restricted Funds - all funds
500,000
**Total of funds**
947,299|AFT
**Income**
**£**
**648,326**
**-**
**648,326**
Income
£
201,892
-
201,892|**Expenditure**
**£**
**(202,995)**
**-**
**(202,995)**
Expenditure
£
(171,467)
-
(171,467)|**2024**
**£**
**13,646**
**76,753**
**90,399**
**Gains/**
**(Losses)**
**£**
**89,673**
**-**
**89,673**
Gains/
(Losses)
£
(36,878)
-
(36,878)|2023
£
11,466
34,208|
|---|---|---|---|---|
||||||
|||||45,674|
|||||**Balance at**
**31 May 2024**
**£**
**975,850**|
|||||**500,000**|
|||||**1,475,850**|
|||||Balance at
31 May 2023
£
440,846|
|||||500,000|
|||||940,846|
## **13. Statement of funds**
Page 20
**This draft produced on 31/1/2025 17:18**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024**
## **KAREN MORRIS MEMORIAL TRUST**
## **14. Analysis of net assets between funds Analysis of net assets between funds - current year**
|DRAFT
**Unrestricted**
**funds**
**2024**
**£**
Fixed asset investments
492,477
Current assets
573,772
Creditors due within one year
(90,399)
**Total**
975,850
**Analysis of net assets between funds - prior year**
Unrestricted
funds
2023
£
Fixed asset investments
396,656
Current assets
89,864
Creditors due within one year
(45,674)
**Total**
440,846
**Operating lease commitments**|**Restricted**
**funds**
**2024**
**£**
500,000
-
-
500,000
Restricted
funds
2023
£
500,000
-
-
500,000|**Total**
**funds**
**2024**
**£**
**992,477**
**573,772**
**(90,399)**|
|---|---|---|
|||**1,475,850**|
|||Total
funds
2023
£
896,656
89,864
(45,674)|
|||940,846|
||||
## **15. Operating lease commitments**
At 31 May 2024 the company had commitments to make future minimum lease payments under noncancellable operating leases as follows:
|Not later than 1 year
Later than 1 year and not later than 5 years|**2024**
**£**
**83,887**
**-**
**83,887**|2023
£
102,310
2,011|
|---|---|---|
|||104,321|
Page 21