REGISTERED CHARITY NUMBER: 1143668
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2021
FOR
DONALD & PATRICIA MARSH CHARITABLE TRUST
Stanton Ralph & Co Limited Chartered Accountants The Old Police Station Whitburn Street Bridgnorth Shropshire WV16 4QP
DONALD & PATRICIA MARSH CHARITABLE TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
DONALD & PATRICIA MARSH CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2021
The trustees present their report with the financial statements of the charity for the year ended 31st August 2021. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES
Objectives, aims and public benefit
The activities of the charity give benefit to the public in everyday life by providing support to such as are charitable activities compatible with how the trustees think fit, targeted, but not exclusive, to education, heritage, the Christian religion and social benefit, predominantly but not exclusively in the West Midlands and Black Country area.
ACHIEVEMENT AND PERFORMANCE Charitable activities
The Charity has achieved its objectives during the year by making the following donations:
| £ | |
|---|---|
| Parochial Church Council St Barts, Tong | 20,000 |
| Midlands Air Ambulance | 75,000 |
| Saltmine Trust | 5,000 |
| Lighthouse Media Centre | 5,000 |
| Lichfield Diocesan Board of Finance Urban Fund | 16,000 |
| Acorns Childrens Hospice | 25,000 |
| Peter Harris Almshouses Charity | 30,000 |
| Sir Joseph Mason Trust | 10,000 |
| Star Cross Youth Theatre | 5,000 |
| 191,000 | |
Donations of £41,066 comprise the transfer of final funds from the solicitors dealing with the Estate of the Late Mr Donald Marsh in whose name the trust was established.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1143668
Principal address
C/O Andrew Vernon FBC Manby Bowdler Solicitors Routh House, Hall Court, Hall Park Way Telford Shropshire TF3 4NJ
Trustees
J L Kynnersley J Thorneycroft A C Vernon
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DONALD & PATRICIA MARSH CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2021
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner Stanton Ralph & Co Limited Chartered Accountants The Old Police Station Whitburn Street Bridgnorth Shropshire WV16 4QP
Approved by order of the board of trustees on 3rd March 2022 and signed on its behalf by:
J L Kynnersley - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DONALD & PATRICIA MARSH CHARITABLE TRUST
Independent examiner's report to the trustees of Donald & Patricia Marsh Charitable Trust
I report to the charity trustees on my examination of the accounts of Donald & Patricia Marsh Charitable Trust (the Trust) for the year ended 31st August 2021.
Responsibilities and basis of report
As the charity trustees of the Trust 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 Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all 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 Trust 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 requirements 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 true 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 to enable a proper understanding of the accounts to be reached.
Adrian Ralph FCA CTA on behalf of Stanton Ralph & Co Limited Chartered Accountants The Old Police Station Whitburn Street Bridgnorth Shropshire WV16 4QP
3rd March 2022
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DONALD & PATRICIA MARSH CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2021
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Investment income 2 Total EXPENDITURE ON Charitable activities General Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
31.8.21 Unrestricted fund £ 41,066 19,642 60,708 204,123 131,435 (11,980) 1,196,272 1,184,292 |
31.8.20 Total funds £ - 13,253 13,253 471,399 (21,906) (480,052) 1,676,324 1,196,272 |
|---|---|---|
The notes form part of these financial statements
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DONALD & PATRICIA MARSH CHARITABLE TRUST
BALANCE SHEET
31ST AUGUST 2021
| Notes FIXED ASSETS Tangible assets 5 Investments 6 CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 8 Unrestricted funds TOTAL FUNDS |
31.8.21 Unrestricted fund £ 178,225 774,246 952,471 233,669 (1,848) 231,821 1,184,292 1,184,292 1,184,292 1,184,292 |
31.8.20 Total funds £ 179,650 606,957 786,607 411,489 (1,824) 409,665 1,196,272 1,196,272 1,196,272 1,196,272 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 3rd March 2022 and were signed on its behalf by:
J L Kynnersley - Trustee
J Thorneycroft - Trustee
A C Vernon - Trustee
The notes form part of these financial statements
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DONALD & PATRICIA MARSH CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS102, have been prepared in accordance with the Charities SORP (FRS102) '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 (FRS102) (effective 1 January 2015)', Financial Reporting standard 102 'The Financial Reporting applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The accounts are prepared in pound sterling.
The charity is a public benefit entity.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Donations of listed investments are included at their open market value at the date of gift.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 1% on cost
Freehold land with a cost of £40,000 is not depreciated.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
All funds are unrestricted.
Investments
Listed investments are carried at cost less provision for any permanent diminution in value. For donated investments cost comprises open market value at the date of the gift.
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DONALD & PATRICIA MARSH CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2021
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.8.21 | 31.8.20 | |
| £ | £ | |
| Dividends | 18,445 | 8,927 |
| Bank account interest | 113 | 3,259 |
| Interest | 1,084 | 1,067 |
| 19,642 | 13,253 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st August 2021 nor for the year ended 31st August 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st August 2021 nor for the year ended 31st August 2020.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Investment income EXPENDITURE ON Charitable activities General Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 13,253 471,399 (21,906) (480,052) 1,676,324 1,196,272 |
|---|---|
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DONALD & PATRICIA MARSH CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2021
5. TANGIBLE FIXED ASSETS
| 5. | TANGIBLE FIXED ASSETS | |
|---|---|---|
| Freehold | ||
| property | ||
| £ | ||
| COST | ||
| At 1st September 2020 and | ||
| 31st August 2021 | 182,500 | |
| DEPRECIATION | ||
| At 1st September 2020 | 2,850 | |
| Charge for year | 1,425 | |
| At 31st August 2021 | 4,275 | |
| NET BOOK VALUE | ||
| At 31st August 2021 | 178,225 | |
| At 31st August 2020 | 179,650 | |
| 6. | FIXED ASSET INVESTMENTS | |
| Listed | ||
| investments | ||
| £ | ||
| MARKET VALUE | ||
| At 1st September 2020 | 606,957 | |
| Additions | 110,227 | |
| Disposals | (74,373) | |
| Revaluations | 131,435 | |
| At 31st August 2021 | 774,246 | |
| NET BOOK VALUE | ||
| At 31st August 2021 | 774,246 | |
| At 31st August 2020 | 606,957 | |
| There were no investment assets outside the UK. | ||
| Cost or valuation at 31st August 2021 is represented by: | ||
| Listed | ||
| investments | ||
| £ | ||
| Cost | 774,246 |
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DONALD & PATRICIA MARSH CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2021
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 31.8.21 | 31.8.20 | |
|---|---|---|
| £ | £ | |
| Other creditors | 1,848 | 1,824 |
Other creditors comprise legal fees owed of £nil (2020 £900) and accountancy fees owed of £1,848 (2020 £924)
8. MOVEMENT IN FUNDS
| Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are Unrestricted funds General fund TOTAL FUNDS |
as follows: Incoming resources £ 60,708 60,708 |
At 1.9.20 £ 1,196,272 1,196,272 Resources expended £ (204,123) (204,123) |
Net movement in funds £ (11,980) (11,980) Gains and losses £ 131,435 131,435 |
At 31.8.21 £ 1,184,292 1,184,292 Movement in funds £ (11,980) (11,980) |
|
|---|---|---|---|---|---|
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS Comparative net movement in funds, included in the above are as Incoming resources £ Unrestricted funds General fund 13,253 TOTAL FUNDS 13,253 |
At 1.9.19 £ 1,676,324 1,676,324 follows: Resources expended £ (471,399) (471,399) |
Net movement in funds £ (480,052) (480,052) Gains and losses £ (21,906) (21,906) |
At 31.8.20 £ 1,196,272 1,196,272 Movement in funds £ (480,052) (480,052) |
|
|---|---|---|---|---|
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DONALD & PATRICIA MARSH CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2021
8. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.9.19 £ 1,676,324 1,676,324 |
Net movement in funds £ (492,032) (492,032) |
At 31.8.21 £ 1,184,292 |
|---|---|---|---|
| 1,184,292 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 73,961 73,961 |
Resources expended £ (675,522) (675,522) |
Gains and Movement losses in funds £ £ 109,529 (492,032) 109,529 (492,032) |
|---|---|---|---|
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st August 2021.
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DONALD & PATRICIA MARSH CHARITABLE TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2021
| 31.8.21 | 31.8.20 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 41,066 | - |
| Investment income | ||
| Dividends | 18,445 | 8,927 |
| Bank account interest | 113 | 3,259 |
| Interest | 1,084 | 1,067 |
| 19,642 | 13,253 | |
| Total incoming resources | 60,708 | 13,253 |
| EXPENDITURE | ||
| Charitable activities | ||
| Grants to institutions | 191,000 | 465,500 |
| Support costs | ||
| Finance | ||
| Bank charges | 120 | 140 |
| Other | ||
| Freehold property | 1,425 | 1,425 |
| Governance costs | ||
| Independent examiners fees | 924 | 924 |
| Stockbroker fees | 9,754 | 3,410 |
| Professional fees | 900 | - |
| 11,578 | 4,334 | |
| Total resources expended | 204,123 | 471,399 |
| Net expenditure | (143,415) | (458,146) |
This page does not form part of the statutory financial statements
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