THE SAM MORLEY CHARITABLE TRusr Regis¢ered Charity No: 1142185 ACCOUNTS FOR THE YEAR EIYDED 31ST MARCH 2024 Benjamin Clow4s Ltd. Ptrston Court. Preston-on-Wy4 HerefoTdshire. HR2 9JU
THE SAM MORLEY CHARITAIILE TRUST ANNLAL REPORT For the Year Ended 31 ' Mar¢h 2024 The Truslees presenl their report along wilh the financial 5tal¢ments of the Charity for the year ended 31. March 2024. The Charity is a small unincorporated trust fund and prepares its accounls on a receipts and payments basis. Constitution and Or anisation The Sdm Morley Charitsble Trust was crealed by The Adminislrdtors of ihe Esthie of ihe Late Samucl Anthony Morley by a trust deed dated 15, March 2011. 11 is regislered as a Charity under regisiered number 1142185. The present Trustees of the Trust are Mr A M and Mrs A B Morley, both of Castle Weir, Lyonshall. KingFlon, Herefordshire, FIR5 3HR. Mr E G Morley of The Orchard. Main Street, L.itton Cheney, Dorchester, DT2 9AP and Mr H B B Clowes of Presion CourL Preslon-on-wye. Hereford. HR2 9JU. The p)wer to appoint new Trustees is vested in the surviving or continuing Trustees. The powers of the Trustees including their investrnent powers are governed by the Iru5t deed and general law. Other general inforn)ation concerning the Charity is as follows: Solicitors.. Charles Russell Speechlys LLP, Compass House. Lypiatt Road, Cheltenham, GL50 2QJ. Bankers.. HSBC Plc, l Broad Street, Leominster. Hereford5hire, HR6 7BU. Stockbrokers: J M Finn, 25 Copthall Avenue, London, EC2R 7AH Independent Examiner- E J Newnham ACMA of Newnham & Son Ltd, School Master's House, 39 College Streel, Pelersfield. GU314AG
Charitable Ob ects The trust shall pay or apply the annual income of the trust fund to such charity or ¢hariti¢s or for such charitable purposes as the Trustees shall, from time to tim¢, in their absolute discretion ddemine. Summa em8 Cliarit¥ble Activities in the Yea As the objects of the Charity are not linked to any specific areas of ¢h8ritsble 8Ctivity. the Trnslets receive many applications for donations. They review the applications received during the ye2r and make their donation& During the year under review, they made ITKome donations totalling £39,500. Donations wew made to registeth charities in the United Kingdom. or At the annual trustces meeting on the 21 July 2018, it was decid¢d to transfer 3.250/0 of of thc value of funds held ai J M Finn &8 at the 31 March from JM Finn (rounded down to the nearest £IOOO) every year subsequent 10 ihe end of the accounling year to the14SBC Current Account to meet the annual running Wsts and fund the donalions to registered UK Charities. The Income ¥nd Capiial ac¢ounts have been merged. The Trustees confim that they have referreA to the guid&nc¢ contsined in the Charity Commi&sion's general guidance on public benefit when reviewing the Charity's aims and in Setting the gifting policy for th¢ year. Investments The Trustees have the authority to invest the funds of the Ch8rity in a wide range of inve5¢ments for the furtherance of the objects of the Charity. Financial Revi¢w and Review of Atlivities The assets of the Charity compTiSe quoted investments. which had a market value on the Balance Shcet date of £1.311.185 and cash of £31,346. The investments are reviewed ¢very three month4 at ihe erkd of June, Sept¢mber, December, and March, and in the year to March 2024. the overall portfolio increased by prOXImalY 7.94%. Th¢ Trtees, investment objectiv¢ is now to achieve an overall rcturn.
R¢s¢rv Poli Ther¢ is no longer a reserves policy. Mana em The Tnjstees have as$¢ed the major risks to which the Charity is exposed, in particular those related to the safeguarding of the financial aets of tlLe Cbarity. and are satisfied that systems 8Te in pla* lo mitigatr their exsure lo the major risks. om ith Accountin St ndards The fllwi¢iaJ statements have been prepared in accordance with the Statements of Recomrnended Pra¢tice,"Accounting by Chariti¢5-, and Current statutory Jtquirements, The AtUat Report and AUnts hav¢ E¢en approvol by the Trustccs and are sign¢d by Mr Andrew Mark Morley Mrs Antoinette Bar Morley Mr Edward Giles Morley Mr Hcnry Benjamin Beaufoy Clowes Dated this day of 2024
8th October 2024 INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF THE SAM MORLEY CHARITABLE TRUST Charity nurnber 1142185 I report on thè Receipts and PaymentsAccount and the Statement of Assets and Liabilities of the Trust for the year ended 31ST March 2024. Respertlve iesponslbilities of the trustees and the examiner The charitys tnjstees are respon5ibleforthe preparation of the attounts. The charity's trustees consider ihat an audit is not required forthis year urKler section 144{21 ofthe Charities Act 2011 and that an indepwtht exwryFkltson is needed. It Is ry respcx)sibility to.. examine the accounts under section 14S of the 2011 A¢ to follow the pr¢xedures laid down in the general Directims given byihe Charity Commission lunder section 14515)Ib) of the 201 I Art, and to state whether portiojlar maiters ha¥E co to my attention. Basls of Independ•nt •MInr.5 report My examinationwas caNied out in accordance with General Directions given bythecharity Commission. An examination includes a reviewof the accountirKJ records kept by the charity and a coryarison of the accounts presented with te records. It also includes CorlderatI ofany unusual item5 or disclosures in the accounts, and seekir4J explanations from the trustees ¢orKeming anysuch matters. The procedures urKlertakendo not provide all the ewdence thatwould be required in an audit and consequently no opinion is given as to whether the accounts present a 'true a1 fairf. view and the report is limited to those matters set out in the statement below. Ind•pendent examlner's statement In connection with my examination, no matter has cot0 my attention which gives me reasonable cause to believe that in, ary nN3terial respe¢ the requirements: to keep proper accwnting records in accordarKewth secticfft 130 of the 2011 Act," and to prepare accounts which accord wth theaccountingrecord5 and complywiththe accounting requirents ofthe 2011 Act have not been met". or 2. to which in my opinion, attention should be dmvn in orderto enable a proper understanding of the accounts to be reached. E J Ne%haM ACMA Newnham & Son Ltd School Masterfs House 39 College Street Petersfield Hampshire GU314AG
SAM MORLEY CHARITABLE TRUST STATF,MENT OF ASSEI'S AND LL4BILrrtES FOR THE YEAR ENDED 31sf IMARCH 2024 NON-MONF.TARY Asswrs 2024 2023 Quoted Invesiments Al Cost (Market Value £1,311.185 at 31.3.2024) 841,284.45 829,937.53 NETARY ASSET . Bank & Stwkbrokers Client Al¢ 31 45.6 56 720.36 TFUN 72 630.1 886 657.
SAM MORLEY CHARITABLE TRUST RECEIPTS AND PAYMENTS AccobNr FOR THE YEAR ENDED 31sf MARCH 2024 2024 2023 Income from Quoted Investments 22,778.33 22,400.89 Gift-aid Donations 2,0(Xl.00 12,(NJO.00 Tax Relief on Gift-aid Donations 3.IX)O.(K) 18.750.00 27.778.33 53,150.89 Net realisalion of inve5tmcnts IOOJ39.59 143,365.84 TOTAL RECEI 128.117.92 196,516.73 DIRECT CHARITABLE EXPENDITURE Payments to Charitable Org8ni$81ii 39,500.00 37,500.00 THER DITU Professional Fees 3.090.00 2.868.Crf) Inveslment Management Charges 6,025.22 6,048.52 Net acquisition of investments 104,877.38 123,462.02 TOTAL PA YMEN'rs 153,4Y2.60 169,878.54 Net Payments for th¢ Year -25,374.68 26,638.19 Bank Balanccs on l April 2023 56.720.36 30.082.17 Bank Ba18nces on 31° March 2024 31.345.68 56.720.36