Charfty Registration No. 1143730 NINA AND ROGER sfEWAf(T CHARITABLE TRUST YRUSTEES REPORT AND UNAUDrrED ACCOUNTS FOR THE YEAR ENOED 31 AUGUST2021
NINA AND ROGER STEWARTCHARThABLE TrU5r LEGALAND ADMINISTRATIVE INFORMATION LynÈtte CiaiR Robert Crai8 Charity number 1143730 Prfnopal addr•5S clo Howard Kennedy LLP Nol Ic¥tdon BridEe London SEI 9BG lftd¢pend•nt eMamln*r TC Group Level l. DcvonshSre House One Mayfalr Plate London WU 8A¢ Unlted Kin8dom Solldto Howard Kennedy LLP ND. l London Bridge London SEI 98G Inv•stm•rt advlsors JM Flnn & Co 4 Coleman Str1 London EC2R STA
NINAAND ROGER STEWART CHARITA8LE TRUST COKtEKrs Page Trustees report Independent examinéi's port Ststement of finandal actlvllles alance sheet Notes to the accounts
NINA AIID ROGER STEWART CHARifABLETRUST TRUSfEES REPORT FLVI IHE YEAR ENDED 31 AUGUST2021 The trLFStoes prÈ5ent their report:'and accounrs for the year cnded 31 August 2021. The accoLtnis have been prepJreiJ in accordance with thp account5ng poliaes set out in note i to th¢ attounts and corrtply wÉth the the trust's 18overntng document), the Charities Act 2011 and thè Statement of Recommended PTanice,"Accounttng and Reponing by tharitiès", issved in Morth 2005. Strurtur•. go¥ernance and mana8em•nt The charity is an unlncorporaied body. ¢onstittsted under a cl73rJty trust deed dated 19 Aukust 2011 and is re8istered chaTTty, number 11437.30. The tharity was o5tablished undèr tho terms of the Will of the late Nlna Stewart who dltd on 26 Jun¢ 2011. Trustees The rharity deed prov5dos for a tnlnlmum of no Ic5S than two trustee5, nor more than five. Th¢ maxirnum number of trustees may be chon Iwo meetings each year. ed by resolullon of ihe Trusteès at any time. The Trnstees must hold at least The trurtees who served durfng the ye•r were,, Lynette Craig Robert CraSq Spetlfic Investmorrt POWW5 Ths¢ are Ilsted In the trust deed. Tho Trustees hav power to Invel thè lunds of the tharlty as they in thlnk fiL subjert to tsklng approprfe profesgonal advice. Subsidlary tradlni iompany Thc Trust's wholly owned tradin¥ ¢omp3ny Marshvllle limlted ceas•d trading in 2019 on thè tsnnlnation of its prolStable equipment leases, and Nva5 wound up and di550W on 29 September 2020. Rtsk assossmont The Trustees have examined the major risk$ to which the Charlty may b Exposed. They considef that ihe principal risk to whith the charlty is exposed is snvestment risk, which they minlm15e by having prolessitrnal Irwestment managers. J M Finn & Co. The Trustees believe systems a In place adequate to moet Such other potential risks as the Trustees hwe'iderits"fied. They COnne to keep proce55es under rew. ObSecll¥es and The tho trust's objects are are benèfit such registerod chdrities or char6table pury)05es rfind in such propofflior15 and In such fflanner aftd subjett to svch term5 and condiuons as the Trustec5 in thelr absoltsto discretion think fit from bme to ttme. The Trustees propose to make a variety of dDnab"ons to charitabl OfKJnisations working in differert ftelds, and very occa51onal donattons to indNlduals appropriate for charitablo support
NINA ANO ROGER sfEWART CHARITABLE TRusr TRUSTEE5 REPORT ICONTINUEr¥ FOR 7FIE YEAR EI4DED31 AUGU5T2021 Public benefit The trusiees confirm that they have roferred to the Charity Commisslon's general guidance on publi¢ benefit whon making donèifitsns hgrtoing the distribtrtSon pollcy for the period. These objectives will continue to be Pursued In the coming year. The trustee5 have pald due regard to gUIdan Issued bv the Charity Commisslon in decidin8 vthot acDvitie5 the the trnst should undertake. Athl•v•ftwnts and pèrfomiance Durin8 ihe year, donations toialling E66.400 were approved. The Trustees consider that these approvals represent an approprtaie exprciseiof their discreOary powers. Flnano41 r¢¥lew Trust's work Is entirely rellant on Income from donations and Investment returns from its endowmcnts. R•seTrs pollcv Any reserves are maintalned at disclon of thè Trustees. The Trusteos èlm io malntsin free reserves at lovel thot will provlde sufficltnt fund5 to Te5pond to Hpplications for donat10 and ensure that there ar• 5ufficlent fvnds èVail3ble to cover Support and governancè costs. The Trusteos confimi that assets ait avallable and are adèque to fulfil the obligatSon5 of the ¢harity. In¥estrnent policy and perfonThanp The Investment policy ol the chaflty is primarily to pSerVe the capital of ihtr charity, at such levels to en511fe that adequato incorne 1$ returnod io furthor the charity's objrciTrves. The investments held will continue to be m¢mitored a8ainst the poll ot the charityto ensure Sncome and Capital growth rna1n at satisfartory levels. Plans for the futu The Trustees will keep thelr pl•ns kknder revlew in the li8ht olthe fundinu allaNe to the charfty.
NINA AND ROGER StEWART CHARITABLE TRUST TRUSTEES REPORT ICONTFNUE R>R TIIE YEAR EAIDE031 AUGUST2021 Ststement of trustee5 responslbllltles The tTU5tees are responsible for preparsng the Trustees Report and the accounts in accordanct with applicablè law and iJnlte(i ngdoM Accounting Standards Iunitèd KinKdom Gerorally Accepted Accounting Practice). The law applicable to charlt(es'ln En8lanfl and Wales requires the trustee5 to prepare atcounts for eath financial year whlch Rive a tfue and fair view of tho state of affairs of tho the trust and of the inromln8 resources and application of resoyrccs of tho the trust for that year. In preparing thesÈ accounts. the Iru5toes are reqylred to: - selert sultable actounlSr8 policS and then apply them conslstentlv,, - obscrve the methods and prinuples lft the Charlties SORP,. . make ludgemenls ond èStimate5,.that are rea$onable and pwdent.. 5tste whether applicable accoynVnK standords havo been followed. subject to ary material dopartures disdosed and explained In the a¢o)unts,' and prepare the accounts on the 8dlnR concern bast5 unless it is Snapproprlatè to prrfume that tho chartty will contlnue In opefatlon. The trustees are re5ponsiblo for k•epin8 Sufficient accounfjn8 rKor05 that dlsdose wjth rÈasonJble accuracy at any time the fiftanclal position of.the the trust and enable them to ensure that the accounts comply wilh the Charlies Att 2011, thc Charity IArcounts and Reports) Regulations 2008 and tho provis40ns of the trust deed. They are also responsible for 5aleKudrdin6 the assets of the charity and hence for tskin8 reasonablo steps lor rhe preventlon and detection of frbvd and other irregularibes. On behalf of the board ot trustees Robert Cr•io Trustee Djted.. Is
NINA AND A06ER 5TEWARTCHARrrABiE TRusr INDEPENDENT EXAMINER'S REF4)RT TO THE TRU5TEESOF Nlf4A AND ROGER sfEWART CHARITA8LE Tru I report on the accounts of the the trust forthe year ended 31 August 2021. which are set out on pages 5 to 9. Respective sPOnsibl11es of trustees •nd examiner Thc charity's tsustee5 are responsible for ihe preparation of the accounts. The charity's trustpe5 consider ihat an audit Is not reoulred for thls year under section 144121 of the Charrti¢5 Act 2011 (the 2011 A£tl an(1 that an indopÉ•ndcnt exafnlnation Is needed. It is my responsibility to= 111 examine the accounts undqr seLllon 145 of the 2011 Act-, lill to follow the proctdures laid down in the genernl D*tIOnS given by the Chartty Commission under sectlon 145ISllbl of the 2011 Act; and 11111 TO stste whether parrscular mattèrs have come to my attention. 8asts of Indepefident examlnees report My examination was carried our in accordance with the general Dlrection5 given by the Chartty Commi55>0n. An examrnation includes a review of the accounting records kept by tho charity aftd a ¢omparlson of the accounts presented with thosè records. li also Includes consSderatiortr of arty unusual Items or dlsclosvres in the atcounts. and seeking explana05 from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidenco that would be required in art audit and Consequent no tspinion 15 given as to wh£)ther the ac¢ounts present a 'true and falr vFew' and the repgrt 15 Ilmited to those matters svt out In the statement below. Ind•penderrt •x•mlnerfs st•t•mebt Ih connedon wth my examination. no matter has corne to my attention: {al whlch gives me rea50nablÈ Cause to believe that In any material respett the fequirements.. to keep accounting records in Jccordance with sectton 130 of the 201J Att.. and Illl to prepare acmunts which a¢¢ord with ihe accountsng records and comply with the accoLsnti requiremenls ofthe 2011 ACL. have not been met.. or Ibl to whl¢h, In my opinlon. attenuon should bè dnwn In order io enable a proper understandin8 of tho CnIS ro bè reathed. TC Group Dwid Lèigh FCA Levol L Devonshire House Ono Mayfair Place London WLt 8A1 Unlted Kingdom 15 March 2022
NIMA AND ROGER sfEwARf CHARITABLE TRusr rATEMEwf OF FINANCIAL AcfiviTIES INCLUDING INCOME ANO E¥P£NDITURÉ ACCOUNT FOR THE YEAR ENDED 31 AUGusf2021 Unr•rtri¢ted Restrlcted fuhd5 funds Totsl 2021 Total 2020 Notes In omi Donations and legacies Investment income era ed ILrnds 92.784 111,388 138A86 138.486 Totsl Intomln8 r50urce 138.486 131486 204,172 sources ex Costs of qeneratln8 fund5 Investmerrt management costs 31533 31533 25.529 Net Sncomlnq rnsource5 wJall•bf• 105,953 105,953 178.643 Charftable ac6vi6•s Donatsons paid 66.400 106.910 &xf•rnance ¢o5ts 3,064 3,072 Total rewurt•s nded 101,997 101.997 13S.511 N•t Income for the yearl Net Sncomln¢ resources 68,661 Oth•r rew8nlsod 8aln$ •hd105ses Gèlns on Investment asset5 1,040,432 1.040,432 217.036 Net movement •n fw 36,489 1.040,431 1.076.911 285,697 Fund bèlance5 at I September 202¢ 183.336 6,477,063 6.660,399 6,374,702 Fund bo14n$ at 31 AuBu# 2021 219.825 7.517.495 7.n7,320 6,660.399
NIP4A ANO ROGER STEWART cNARITA8LE TrUST BALAN SHEET ASAT31 AUGUST2021 2021 2020 NDt•s Flxed as5et5 Inve5tmefits 7.471OaS 5.890.655 Curr•nt assets Cash at bank and in hand Creditors: amounts fallSft8 duè wlthln ¢)ne year 268.285 772,744 {3.rAIo) 13.iY)01 Net ¢urr•m assets 265.285 769,744 Tfflal assets less currerrt Il•bllltleg 7,737,320 6,660.399 Inc4m lunds Rtstrictcd fund$ 7,517.4% 6.477,063 Unre5tr1¢ted funds 219,825 183.336 7,n7,320 6,660,399 Thc accounts We apprtsyed by the Trust•s on ..... Robert Craiorllv- Trustee
NINA AND ROGER STEWARTCHARITABLE TRUST XOTES TO THEACCOUNTS FOR THE YEARENDED 31 AUGusf2021 Ac¢ounling polldes 1.1 8asls of preparatlon The accounts have been Pr+pad under the hlstorscal tost convention. The accounts hève been wepared In accordan¢e with appllcable accournin8 stsndards, the Statement of Rpcommended Practice. "4¢counttn8 and Reportin8 by Charitie5' Issued in Mèrch 25 and the Charities Art 2011. 1.2 Incoming resour(es In¢ome 15 derNed from donhtlons and irwe>tment rnrome and a¢nted for on the ieceipt d#te. 1.3 R•sour¢es ewnded Donab"on5 are accounted foi when they are paid. Expendtturv Incurred In connertlon wlth the specific aCTivlties of thc charity 15 included under the headln8 charltsble aedvitie5. Governance tosts are thoje rosts In¢Lbrred by the ch¥rlty in order to moot stsiutory and re8ulatory reoulrements IA In¥eskn•nts U5ted Invcstments are sta¢ at market value at the balance sheet de, Rtsalised 8ains or losses are falctslèted as ihe dIffenCe beeen the dlsposal pffjceeds and the market value of the Investm¢nt ai the Pthious yew end lor date of acqulsibon If ptsrchasod durFng tho ar). Unreallscd gain& or10sses a calculated as the difference between thè market value at the cuNtnt year end and the market valu¢ at the Prfor year end lor date ol acqulsition If purchased durin8 the year.) Irfvestments In subsidlary ulertakings are stated at 5t less prtyislon for dimlnution in value. 1.5 Expendable endowment In accordance with the Trust Deed the total value ol Investments Is expèndable, that is the Trustees have power to expend the capital and incorne of the r.harity. I Cash flow st•temert Thè entity qualrfies a$ a small charity and has therefore taken the exemption available under FR5 1 Irevlsed 19961 from the requlrement lo publish a cash 5tatemenL 1.7 Group accounts The fiftanclal statement5 Psent informatlon about the (ompany a5 3n Individual undtrtaklng 3nd not about its 8roup. Tho company and its sub5idlary undertaking rDmpr¥se a small-slzed group. The Company has therefore tsken advantsge the exemptions provided by seth.on 399 of the Companies Act 2006 not to prepare group accounts.
NINAAND ROGER STEWART CHARITABIE TRusr NOTESTO THE ACCOUNTS (CONTINUED} FOR 7HE YEARENDED31 AUGUST2021 Donagons and leOeS Tot41 2021 Total 2020 Donattons and gifts 92,784 In¥tstnMt InoMn¢ 2021 2020 Income from listed InvÈstm1nt5 Intefesr ieceivoble 138,247 239 107,410 3.978 138.486 111.388 fotsl resourc•5 •xpended 1021 2020 rSts of generatlng funds Investment mana&ement co 32,533 25,529 tharftsbl ècovlfles nation Activities undertaken dlrect 66,400 106.910 6thrnanCe costs 3,064 3,072 101.997 135511 Governanco costs includes payments to the auditors of £3.CMIO12020.. £3.OCJoi faf 3udlt fas. None of ttte trusiee5 lor arty ersOn$ c(*inerted wlth theml received any remunvration or rè.imbursemenz of expenses during the year.
NINAAND ROGER StEWARTCHARITABiETRUST NOTES TO THE ACCOUNTS ICONTINUED) FOR 7HE YUR ENDED 31 AUGUST2021 Employees There were no employees utin8 the year. Flxed 8sset in¥estmqnts larknt value at I Septemb¢r 2020 Disposals at opt'ning book Nqlue Acquisitions ai tost Chan%e in value in the year 5,890,655 1682,1041 1.223,052 1.040,432 Market le at 31 Au8ust 2021 7,47I035 Historical cost-. At 31 Au8USt 2021 5.228,174 At 31 AuRu5t 2020 4,366.413 Creditors: armunts falllng dts¢ wlthln one y¢•r 2021 2020 Accruals Anatysis of net a55ets between funds Unr5trlrted Ile5tr6cted Totsl Fund balance5 èt 31 August b321 are preSeNted by: Irw5tments Current a55ets Creditors: amounts falling dué wrthln one y¢aT Expendable endowment 7,472,035 268,285 13.0001 17,517.495) 7,471035 268.285 {3.1)00 7,517,495 219.825 7,517,495 7.737J20
MINUTES OF A MEF.TING OF THE TRUSTEES OF THE NINA AND RlF.R STEWART CHARITABLE TRUST e£44J V4Ysf4 hj Ji 4 A) 4 FIL.J.I? AT: . Jg" R Craig L Crai8 The lrnslce%' and a0UnLI of the chorty for the year ended 31 Au8U8t 2021 were submiii¢d ¢0 the merting. I'f WAS RF.SOLVED thai the xcounts be alld ve hereby upprov¢d and siy)ed by R Craig on behalf or the 'l'ru%t¢o%. Ilaviftg reviLwed and cottstaer lhe ternis of 8 letter or1epenlitsn from th¢ ¢harity ts) the independL'lli cxaminers. reswLi of the Inden(.nt ¢xamtn4)tion of the Lharity'$ (u(S tor the yar ended 31 Au¥ust 2021. IT WAS RF.SOI.VLD thai ¥uch l¢ner b¢ approv¢d aDd ihaf R CTri8 be authorisc4J io 8i¥n li on behr[ thL chariry. The meeting then iernirn*e& R Cr4ig lon bthiiifof the Tntsitts)
The Nsna& Roger.Siewart Charitable Tnj No. l LAlid Bridgc London SEI 9BG tts STf5 Dwing Ibe course ofyour indep¢ndeni ¢xamrnÉon of the fmancial 5tat¢m¢nts of the chtsrity for the year en&d 31 Au8u5t 2023 ftsllowing represenlOnS w¢re ma(k to you by man)ement and tntsi¢¢s. We have lfIlled ourresr4insibilities 25 trustees under thL Churili¢s Act 201 I f. preparing rJn&ncial ststemett4 in accordance wtth the applicabl¢ financ] reporting fr4mework.. thai give a true and falr vi¢w and for maktng accuraie repnIa"0% to you a4 nur auditors. We Lonfimi thar all accouniing record8 have been made avEilable to you for the trpose of your indendent e.xaminaiion, in a¢cordaftcL with your tLrn]5 ofenxi4iem¢nl, and Ulai till the trdnsaciions undenak"LT by thL iharity havL been prvrtrly rcfleded and recorded in th¢. accounting records. All her reLords and related lnfumiatio including minutL% of all Inanem¢nL Inls, llnd mLinl)er5' mcdinA& hav¢ b¢en madc available 10 you. We ha. SjVLn you unrEstrirt¢d ac¢¢ss iii pLY50ns within the charty in io obtsin audit evid¢nLL' and have pnTrvided any addition41 infomwtion you have rryu¢sied for the purposes ofyour independent examination. We confmn ihal $i1r1¢an1 &4yumVlon$ used by UN in making a¢couniiny es1imateK in¢ludin# thos¢ mA¥ured * rair value. ore reL4onable. We confTrm th ull knowtt actual or rwible litigation ¥nd ¢Faimg whose ¢ff¢¢L should b¢ con5idLred whLn prepariDg thc finÈn¢id si41¢eL8 have been disc105ed lo the Indcrrtndent cxainincr ld accounxI for di9¢1th%.d in accorda¢ with the zr4)15¢abie fin8D¢iil rcporttng ITJmew(rk. We confirm thAt there had beon no ¢v¢nts sin¢e the balance shc¢i dat¢ which requTre disclosurL' nr which would in?ierially affcci the amLXtftts in the finw)¢i41 ¥luiem¢nts, i)iher than thL)se alrtady dilSed or included in ih¢ financi&l thtem¢nts. WL confirm that we awar¢ thai • relaied purry of thi charity is a i)r or111n which eithLr (directly or indirecily> coniroi& has joint control of. or significantlv innuences Ihe charily or vilx vcrsa a ttsuli wall includc: InistedIor& oihcr kev ni£Lni¥en)eiiL tlclse family othcr tryJsine&s inierests of the previcAJ%. We conlirni thai ihL Tclaied party rvlati(Trnsliips and 5aCtIOnS 5ffl oul loW are a Comple li¢ of.guch relationships and tran4actions and that wc are not aware of any further related parties w transactions. Poty RL.141iiMhlP Mr R Crai8 Mrs L Crdig None Trtt None W¢ ¢onfimi th#¢ ill.rel•d paty r¢IlOnShIpS tran8aLiivn% have been ¢(nI¢d for and dtqcl(ts¢d in aryordlnce with thL' applicabl¢ financial ryrtins T¢Work. We clmfrmi tho charity h&$ ha(L nv time during the yor. any amgemenL tr•nsaction or agreLnncni ID prvvide credii facilities (including advancc.s and credit% nI¥d by Ihc charity) l(Ir tnJslee5, nor to provid¥ suarnte¢S of any kind on 1xhail.of th¢ Wc confirni that the charity hsL% n(>t contradcd for any rapftyl exPdIe olkn than &$ di10sL.d in th¥ finty¢ial 51a¢emen.
10. We confirn) tharwe are nol aware ofany po&%ible oracthal tnstsnce of non4omplianc¢ with tho.se laws and rcglllaiions which provi(k a legal fram¢work wiihin which the thi1[Y conijurts tts aLli¥iiioi and which arc centrdl to the chwiry's ahility 10 condurt its activities. except & explained ioyou and as disclosed in the financial sLaiemcnts. We ¥krrt)wledge our reswlngibility for the design and irnp]em¢nthtion of iniern41 controls to pr¢vent and detcei fraud We confirm thai we havL diloSed to you th¢ results of r own risk asses%inent that th¢ r]natKAaI maMt5 may k misstaied as a re5uk of fraud. 12. W¢ conftrm that thLr¢ havL bcen no acwal or inStsnc&% offraud involving trus. managenjent or employees who hvc a significant rolL Én inf¢mttl contsvl or thai £(Truld have maicrial etTccl on thL. finaocid S¢eMLs. We also c(thfim) thai wc Urc noi aware ut'any 11¢tionS of fraud by former employees. or others. 13. We confirni th2L having LonsKkrLQ our expefflations 4nd in(¢ntions for the nexi 12 month$ ond thc availabiliiy OfUnstriCtcd re5ttry¢& the ¢harity is a going conceThL We ¢onlum thBt in our opinion ther¢ 8re no unadju*ed MItOteMentI. We eonftmi thai all 8rdntN donattons aud other incL)m& including 5ubjea i() special t¢rnis or Lundiiions orreceivtyj fur restrictcd purpo5¢5, have been noiili¢d lo you. The. have been no breathL3 of tern15 or condiiions during the peTKJd regarding ih¥ alicAtion of %u¢h in¢ome. 14, 15. 16. We confirni thai We are noi awurL' ofany maner5 of m&L'ri41 sigtijficcc should be reponed to ihe Ch•riry Coinrnis5ion. 17, We a¢knowledge' our 1¢881 Twonsibilitits regardin8 disclosure of itifomiatith to you as auditors dnd confinn thai.. a) Jo #s trustee iy aw8rK there is no r¢l¢vtht inforniation of whith yw as indepettd¢nt ¢x¥nincrs are ujwwarc. b) cach h&8 thken all the steps thai they •1 lo have ¢aken &% a trnsteo to m#kc ihem5elve4 aware of wiy Televant infornithion and to e¥thblish th41 you are W¢ confm that the olM)v¢ r¢pres¢ntatioTrs arv made Ibe Prt%i5 of eTrquiries of manaEemeftt and stsff with rel¢vani knowled¥e and exrIence wh¢TL appn¥Jriaic of supr18 ducum¢nl4¢Sonl 4ullicieni to satisfy Ihat we prOlY make Ldch of thL ai¥)ve repry3cniaiion% to you and thai i lh¢ b¢51 Orr knowlcdge an¢J belief thiy 4¢cuYat¢ly reflcct thL repr¢scntations mthle to you by the Irusttts during the C4)ur5e oeyour 1nd¢d¢nl ¢xamik)aiion. Yours Fdi ttjlly. Sixncd OD behallof thL board oftrusttts Isis