Charity number: 1145114
JAMES TUTTIETT CHARITABLE TRUST
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022
JAMES TUTTIETT CHARITABLE TRUST
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 4 |
| Independent auditors' report on the financial statements | 5 - 8 |
| Statement of financial activities | 9 |
| Balance sheet | 10 - 11 |
| Notes to the financial statements | 12 - 20 |
JAMES TUTTIETT CHARITABLE TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 OCTOBER 2022
Trustees J Tuttiett A Tuttiett Charity registered number 1145114 Principal office Prospect Place Moorside Road Winchester SO23 7RX Independent auditors Harris & Trotter LLP Chartered Accountants & Statutory Auditors 101 New Cavendish Street 1st Floor South London United Kingdom W1W 6XH
Page 1
JAMES TUTTIETT CHARITABLE TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 31 OCTOBER 2022
The Trustees present their annual report together with the financial statements of The Tuttiet Family Charitable Trust (the charity) for the year ended 31 October 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011 and 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 published on 16 July 2014.
Structure, governance and management
a. Constitution
James Tuttiett Charitable Trust is a registered charity, number 1145114, and is constituted under a Trust deed. The charity was set up by way of a trust deed on the 5th of November 2011, and was registered with the Charity Commission on the 16th of December 2011.
Trustees who served during the year were: J Tuttiett A Tuttiett
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
c. Financial risk management
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Objectives and activities
a. Policies and objectives
The Trustees shall hold the Trust Fund and the income there of upon trust to pay there from all the proper costs and expenses incurred by the trustees in establishing and administering the charity and the Trust Fund and subject thereto to pay or apply the income thereof to such charitable institutions or towards the furtherance or advancement of such charitable purposes in such manner and in such proportions as the Trustees may from time to time in their absolute discretion determine.
In planning our activities for the year we kept in mind the Charity Commission’s guidance on public benefit at our trustee meetings.
Our main aim is to support and encourage the people, environment and wildlife of Hampshire and the Isle of Wight. This ranges from support of the homeless, local wildlife and habitat charities, environment and to those with varying health issues.
The Trustees have worked this year with a view to supporting fewer principle causes of a more local nature with more substantial donations in the belief that a greater difference can be made in this way.
Page 2
JAMES TUTTIETT CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022
Achievements and performance
a. Fundraising
During the year the Trust did not carry out any fundraising activities and all the income was generated from voluntary donations and from the investments.
b. Investment policy and performance
The Trust holds investments in order to generate returns to help its charitable objectives and to fund future projects. The trustees adopt a prudent investment policy to ensure potential returns are well balanced with the appropriate levels of risk.
c. Activities
During the year we made larger donations to the Hampshire & Isle of Wight Wildlife Trust, Ukraine Appeal, Winchester Churches Nightshelter, Stay at School, Winchester Hospice, Wessex Cancer Trust, Dentaid Limited, in addition to some smaller donations to both local and national charities.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
Total incoming resources for the year was £353,921 (2021: £585,678). Total grants paid out during the year towards various causes were £86,766 (2021: £39,450).
The Charity’s total funds at the balance sheet date were £3,898,420 (2021: £3,972,730), of which cash reserves amount to £804,538 (2021: £360,669).
In accordance with the Charity Trust Deed, the trustees have the power to invest in such assets as they see fit. The Charity has a policy of keeping surplus liquid funds in short term deposits. This low risk investment policy provided the flexibility in making grants and ensures the charity has adequate funds to meet ongoing grant commitments and administration costs in accordance with its reserves policy.
The level of reserves is considered appropriate given the nature of income.
Page 3
JAMES TUTTIETT CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022
Statement of Trustees' responsibilities
The Trustees 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).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the Charity 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;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Disclosure of information to auditors
-
Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:
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so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are 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 auditors are aware of that information.
Auditors
The auditors, Harris & Trotter LLP, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ J Tuttiett
Date: 25 August 2023
Page 4
JAMES TUTTIETT CHARITABLE TRUST
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JAMES TUTTIETT CHARITABLE TRUST
Opinion
We have audited the financial statements of James Tuttiett Charitable Trust (the 'charity') for the Year ended 31 October 2022 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows 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).
The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
In our opinion the financial statements:
-
give a true and fair view of the state of the charity's affairs as at 31 October 2022 and of its incoming resources and application of resources 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity 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.
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 charity'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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JAMES TUTTIETT CHARITABLE TRUST
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JAMES TUTTIETT CHARITABLE TRUST (CONTINUED)
Other information
The other information comprises the information included in the Annual report other than the financial statements and our Auditors' 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
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:
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the information given in the Trustees' report is inconsistent in any material respect with the financial statements; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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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 are responsible for the preparation of the financial statements which 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 charity'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 charity or to cease operations, or have no realistic alternative but to do so.
Page 6
JAMES TUTTIETT CHARITABLE TRUST
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JAMES TUTTIETT CHARITABLE TRUST (CONTINUED)
Auditors' responsibilities for the audit of the financial statements
We have been appointed as 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 Auditors' 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 objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud or error; and to respond appropriately to those risks. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the Charities Act 2011 and The Charities Regulations 2008..
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:
• We obtained an understanding of how the company is complying with those legal and regulatory frameworks by making enquiries of management.
• We challenged assumptions and judgments made by management in its significant accounting estimates.
We did not identify any key audit matters relating to irregularities, including fraud.
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 Auditors' report.
Use of our report
This report is made solely to the charity'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 charity's trustees those matters we are required to state to them in an Auditors' 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 charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.
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JAMES TUTTIETT CHARITABLE TRUST
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JAMES TUTTIETT CHARITABLE TRUST (CONTINUED)
Harris & Trotter LLP
Chartered Accountants & Statutory Auditors
101 New Cavendish Street 1st Floor South London United Kingdom W1W 6XH
25 August 2023
Harris & Trotter LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
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JAMES TUTTIETT CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2022
| Note Income from: Donations and legacies 2 Investments 3 Total income Expenditure on: Charitable activities: 7 Grants paid Governance costs Property expenses Investment management fees Total expenditure Net income before net (losses)/gains on investments Net (losses)/gains on investments Net movement in funds before other recognised gains/(losses) Other recognised gains/(losses): (Losses)/gains on revaluation of fixed assets Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2022 £ 250,000 103,921 353,921 86,766 7,919 757 16,794 112,236 241,685 (283,663) (41,978) (32,332) (74,310) 3,972,730 (74,310) 3,898,420 |
Total funds 2022 £ 250,000 103,921 353,921 86,766 7,919 757 16,794 112,236 241,685 (283,663) (41,978) (32,332) (74,310) 3,972,730 (74,310) 3,898,420 |
Total funds 2021 £ 502,000 83,678 |
|---|---|---|---|
| 585,678 | |||
| 39,450 959 642 16,863 |
|||
| 57,914 | |||
| 527,764 455,012 |
|||
| 982,776 15,181 |
|||
| 997,957 | |||
| 2,974,773 997,957 |
|||
| 3,972,730 |
The Statement of financial activities includes all gains and losses recognised in the Year.
The notes on pages 12 to 20 form part of these financial statements.
Page 9
JAMES TUTTIETT CHARITABLE TRUST
BALANCE SHEET AS AT 31 OCTOBER 2022
| Note Fixed assets Investments 12 Investment property 11 Current assets Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Unrestricted funds 15 Total funds |
11,769 804,538 816,307 (2,686) |
2022 £ 2,559,799 525,000 3,084,799 813,621 3,898,420 3,898,420 3,898,420 3,898,420 3,898,420 |
12,185 360,669 372,854 (23,874) |
2021 £ 3,098,750 525,000 |
|---|---|---|---|---|
| 3,623,750 348,980 |
||||
| 3,972,730 | ||||
| 3,972,730 | ||||
| 3,972,730 | ||||
| 3,972,730 | ||||
| 3,972,730 |
Page 10
JAMES TUTTIETT CHARITABLE TRUST
BALANCE SHEET (CONTINUED) AS AT 31 OCTOBER 2022
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
J Tuttiett
Trustee Date: 25 August 2023
The notes on pages 12 to 20 form part of these financial statements.
Page 11
JAMES TUTTIETT CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
1. Accounting policies
1.1 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 Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
James Tuttiett Charitable 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.
1.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
1.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the Year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the Year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
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JAMES TUTTIETT CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
1. Accounting policies (continued)
1.4 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
1.5 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 the 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 presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.
1.6 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.7 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.
1.8 Liabilities and provisions
Liabilities 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.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
1.9 Financial instruments
The Charity only has 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
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JAMES TUTTIETT CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
1. Accounting policies (continued)
1.10 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 Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
2. Income from donations and legacies
| Donations Total 2021 |
Unrestricte d funds 2022 £ 250,000 502,000 |
Total funds 2022 £ 250,000 502,000 |
Total funds 2021 £ 502,000 |
|---|---|---|---|
3. Investment income
| Investment property rental income Dividends from listed investment Dividends from investment in associates Interest from investments Total 2021 |
Unrestricte d funds 2022 £ 20,400 46,501 23,761 13,259 103,921 83,678 |
Total funds 2022 £ 20,400 46,501 23,761 13,259 103,921 83,678 |
Total funds 2021 £ 18,496 36,843 13,380 14,959 |
|---|---|---|---|
| 83,678 | |||
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JAMES TUTTIETT CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
4. Governance and charity administration costs
| Independent examiner fee Bank charges Branding and website consulting |
Unrestricte d funds 2022 £ 1,152 38 6,729 7,919 |
Total funds 2022 £ 1,152 38 6,729 7,919 |
Total funds 2021 £ 900 59 - |
|---|---|---|---|
| 959 |
5. Direct costs
| Unrestricte | Total | Total | |
|---|---|---|---|
| d funds | funds | funds | |
| 2022 | 2022 | 2021 | |
| £ | £ | £ | |
| Property and investment management fees | 17,551 | 17,551 | 17,505 |
6. Analysis of grants
| Grants paid Total 2021 |
Grants to Institutions 2022 £ 86,766 26,000 |
Grants to Individuals 2022 £ - 13,450 |
Total funds 2022 £ 86,766 39,450 |
Total funds 2021 £ 39,450 |
|---|---|---|---|---|
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JAMES TUTTIETT CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
7. Analysis of expenditure on charitable activities
Summary by fund type
| Grants paid Property expenses Governance costs Investment management fees Total 2021 |
Unrestricte d funds 2022 £ 86,766 757 7,919 16,794 112,236 57,914 |
Total 2022 £ 86,766 757 7,919 16,794 112,236 57,914 |
Total 2021 £ 39,450 642 959 16,863 |
|---|---|---|---|
| 57,914 | |||
8. Analysis of expenditure by activities
| Grants paid Property expenses Governance costs Investment management fees Total 2021 |
Activities undertaken directly 2022 £ - 757 7,919 16,794 25,470 18,464 |
Grant funding of activities 2022 £ 86,766 - - - 86,766 39,450 |
Total funds 2022 £ 86,766 757 7,919 16,794 112,236 57,914 |
Total funds 2021 £ 39,450 643 959 16,862 |
|---|---|---|---|---|
| 57,914 | ||||
9. Auditors' remuneration
The auditors' remuneration amounts to an auditor fee of £1,152 ( 2021 - £900 ).
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JAMES TUTTIETT CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
10. Trustees' remuneration and expenses
During the Year, no Trustees received any remuneration or other benefits (2021 - £NIL) .
During the Year ended 31 October 2022, no Trustee expenses have been incurred (2021 - £NIL) .
11. Investment property
| Valuation At 1 November 2021 At 31 October 2022 |
Freehold investment property £ 525,000 |
|---|---|
| 525,000 |
The 2022 valuations were made by the trustees, on an open market value for existing use basis.
12. Fixed asset investments
| Cost or valuation At 1 November 2021 Additions Disposals Revaluations At 31 October 2022 Net book value At 31 October 2022 At 31 October 2021 |
Listed investments £ 2,952,815 179,991 (435,279) (253,950) 2,443,577 2,443,577 2,952,815 |
Unlisted investments £ 145,934 - - (29,713) 116,222 116,222 145,934 |
Total £ 3,098,749 179,991 (435,279) (283,663) |
|---|---|---|---|
| 2,559,799 | |||
| 2,559,799 | |||
| 3,098,749 |
Listed and unlisted investments are stated at market value.
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JAMES TUTTIETT CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
13. Debtors
| Due within one year Prepayments and accrued income Creditors: Amounts falling due within one year Accruals and deferred income |
2022 £ 11,769 11,769 2022 £ 2,686 |
2021 £ 12,185 |
|---|---|---|
| 12,185 | ||
| 2021 £ 23,874 |
14. Creditors: Amounts falling due within one year
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JAMES TUTTIETT CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
15. Statement of funds
| Statement of funds | ||||
|---|---|---|---|---|
| Statement of funds - current Year Balance at 1 November 2021 £ Income £ Unrestricted funds Designated funds Designated Funds - all funds - - General funds General Funds - all funds 3,972,730 353,921 Total Unrestricted funds 3,972,730 353,921 Statement of funds - prior Year Balance at 1 November 2020 £ Income £ Unrestricted funds Designated Funds - all funds 2,974,773 585,678 |
Expenditure £ (86,766) (25,470) (112,236) Expenditure £ (18,464) |
Transfers in/out £ 86,766 (86,766) - Transfers in/out £ (39,450) |
Gains/ (Losses) £ - (315,995) (315,995) Gains/ (Losses) £ 470,193 |
Balance at 31 October 2022 £ - |
| 3,898,420 | ||||
| 3,898,420 | ||||
| Balance at 31 October 2021 £ 3,972,730 |
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JAMES TUTTIETT CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022
16. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Fixed asset investments Investment property Current assets Creditors due within one year Total |
Unrestricte d funds 2022 £ 2,559,799 525,000 816,306 (2,685) 3,898,420 |
Total funds 2022 £ 2,559,799 525,000 816,306 (2,685) 3,898,420 |
|---|---|---|
Analysis of net assets between funds - prior year
| Fixed asset investments Investment property Current assets Creditors due within one year Total |
Unrestricted funds 2021 £ 3,098,750 525,000 372,854 (23,874) 3,972,730 |
Total funds 2021 £ 3,098,750 525,000 372,854 (23,874) 3,972,730 |
|---|---|---|
17. Related party transactions
During the year a donation of £250,000 (2021: £502,000) was received, without restrictions, from a company in which a trustee is a director.
During the year dividends of £23,761 (2021: £13,380) were received, without restrictions, from a company in which a trustee is a director.
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