Trustees' Annual Report for the period
Period start date Period end date Day Month Year Day Month Year From 01 July 2021 To 30 June 2022
Section A Reference and administration details
Charity name The Garennie Charitable Trust
Other names charity is known by Registered charity number (if any) 1147622
Charity's principal address Trustee Department 1[st] Floor, Tower Wharf Cheese Lane, Bristol Postcode BS2 0JJ
Names of the charity trustees who manage the charity
| 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 |
Trustee name | Office (if any) | Dates acted if not for whole **year ** |
Name of person (or body) entitled to appoint trustee (ifany) |
|---|---|---|---|---|
| Thomas Bannatyne | (Settlor) | |||
| Rebecca Bannatyne | (Settlor) | |||
| Matthew Bannatyne | ||||
| Ludlow Trust CompanyLimited |
||||
Names of the trustees for the charity, if any, (for example, any custodian trustees)
Name Dates acted if not for whole year
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Names and addresses of advisers (Optional information)
| Names and addresses of advisers (Optional information) | Names and addresses of advisers (Optional information) | Names and addresses of advisers (Optional information) |
|---|---|---|
| Type of adviser Name Address |
||
| Investment Managers | Coutts & Co | 440 The Strand, London, WC2R 0QS |
| Bankers | Coutts & Co | 440 The Strand, London, WC2R 0QS |
| Solicitors | TLT LLP | One Redcliff Street, Bristol BS1 6TP |
| Independent Examiner | Geoffrey Frost | Blue Spire Limited, Cawley Priory, South Pallant, Chichester, West Sussex, PO19 1SY |
Name of chief executive or names of senior staff members (Optional information)
Section B Structure, governance and management
Description of the charity’s trusts
Trust deed dated 07 June 2012 Type of governing document (eg. trust deed, constitution) Trust How the charity is constituted
- (eg. trust, association, company)
Trustees are appointed the settlors or their survivors of them and subject Trustee selection methods to this the trustees from time to time. (eg. appointed by, elected by)
Additional governance issues (Optional information)
You may choose to include additional information, where relevant, about:
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policies and procedures adopted for the induction and training of trustees;
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the charity’s organisational structure and any wider network with which the charity works;
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relationship with any related parties;
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trustees’ consideration of major risks and the system and procedures to manage them.
Section C Objectives and activities
Summary of the objects of the charity set out in its governing document
The objects of the Trust are to further such objects or purposes which are exclusively charitable according to the law of England and Wales in any part of the world and in such manner as the Trustees may in their absolute discretion think fit.
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In furtherance of the charity’s objects for the public benefit the trustees provides grants. In determining the charity’s activities the trustees have had regard to the Charity Commission’s guidance on public benefit.
Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)
Additional details of objectives and activities (Optional information)
You may choose to include further statements, where relevant, about:
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policy on grantmaking;
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policy programme related investment;
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contribution made by volunteers.
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Section D Achievements and performance
Summary of the main During the year under review the charity made two grants totalling achievements of the charity £75,000 as shown in the notes to the accounts.. during the year
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Section E Financial review
Brief statement of the
charity’s policy on reserves
At the end of the reporting period the charity had free reserves amounting to £17,147 (2021: £11,724).
In addition to the free reserves the charity has cash balances of £7,664 (2021: £36,985) and investment assets of £298,403 within the expendable endowment fund which can be released to support the activities of the charity.
The Trustees pursue a policy of maintaining a free reserve available to be spent in the furtherance of the charity’s objectives, as well as covering future needs, opportunities, contingencies and risks.
Details of any funds materially in deficit
Further financial review details (Optional information)
You may choose to include additional information, where relevant about:
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the charity’s principal sources of funds (including any fundraising);
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how expenditure has supported the key objectives of the charity;
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investment policy and objectives including any ethical investment policy adopted.
Section F Other optional information
Section G Declaration
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
Signature(s)
Full name(s)[Chris Thurlow ] On behalf of Ludlow Trust Company Limited Position (eg Secretary, Chair, etc) Date 03 April 2023
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| Charity Name | No (if any) | ||
|---|---|---|---|
| The Garennie Charitable Trust | 1147622 | ||
| Receipts andpayments accounts | CC16a | ||
| For the period from Period start date 01 July2021 |
To Period end date 30 June 2022 |
Section A Receipts and payments
| A1 Receipts | Unrestricted funds to the nearest £ 5,424 27 - - - - - - 5,451 - - - 5,451 75,000 - 780 3,789 - - - - - 79,569 - - - 79,569 (74,118) 79,541 11,724 17,147 |
Restricted funds to the nearest £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - |
Endowment funds to the nearest £ - - - - - - - - - 233,256 - 233,256 233,256 - 178 - - - - - - - 178 182,858 - 182,858 183,036 50,220 (79,541) 36,985 7,664 |
Total funds to the nearest £ 5,424 27 - - - - - - 5,451 233,256 - 233,256 238,707 75,000 178 780 3,789 - - - - - 79,747 182,858 - 182,858 262,605 (23,898) |
Total funds to the nearest £ 5,424 27 - - - - - - 5,451 233,256 - 233,256 238,707 75,000 178 780 3,789 - - - - - 79,747 182,858 - 182,858 262,605 (23,898) |
Last year to the nearest £ |
|---|---|---|---|---|---|---|
| Income from investments | 5,424 | 5,669 | ||||
| Income from bank interest | 27 | 4 | ||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| Sub total(Gross income for AR) |
5,451 | 5,673 | ||||
| A2 Asset and investment sales, (see table). |
||||||
| Sale of investments | - | 272,547 | ||||
| - | - | |||||
| Sub total | - | 272,547 | ||||
| Total receipts A3 Payments |
||||||
| 278,220 | ||||||
| Grants awarded | 75,000 | 20,000 | ||||
| Inv mgmt and admin | - | 4,192 | ||||
| Independent examiner | 780 | - | ||||
| Administrative services | 3,789 | - | ||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| **Sub total ** | 79,569 | 24,192 | ||||
| A4 Asset and investment purchases, (see table) |
||||||
| Investmentpurchases | - | 267,282 | ||||
| - | ||||||
| **Sub total ** | - | 267,282 | ||||
| Total payments Net of receipts/(payments) A5 Transfers between funds A6 Cash funds last year end Cash funds this year end |
||||||
| 291,474 | ||||||
| (74,118) | - | 50,220 | (23,898) | (13,254) | ||
| 79,541 | - | (79,541) | - | - | ||
| 11,724 | - | 36,985 | 48,709 | 61,963 | ||
| 17,147 | - | 7,664 | 24,811 | 48,709 |
CCXX R6 accounts (SS)
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Section B Statement of assets and liabilities at the end of the period
| Categories Signed by one or two trustees on behalf of all the trustees B1 Cash funds B2 Other monetary assets B3 Investment assets B4 Assets retained for the charity’s own use B5 Liabilities |
(agree balances with receipts and payments account(s)) Details Capital account Reserve account Income account Total cash funds Details Details Investment portfolio Details Details Investment management Independent examination Administrative services Signature |
Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - 17,147 - 17,147 - OK OK Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - - - - - - - - - Fund to which asset belongs Cost (optional) Endowment - - - - - Fund to which asset belongs Cost (optional) - - - - - - - - - Fund to which liability relates Amount due (optional) Endowment 39 Unrestricted 780 Unrestricted 841 - - Print Name Chris Thurlow On behaf of Ludlow Trust Company Limited |
Endowment funds to nearest £ 7,664 - - 7,664 OK Endowment funds to nearest £ - - - - - - Current value (optional) 298,403 - - - - Current value (optional) - - - - - - - - - When due (optional) Date of approval 03 April 2023 |
|---|---|---|---|
CCXX R7 accounts (SS)
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Section C Notes to the Accounts
| Section C Notes to the | Accounts | Accounts |
|---|---|---|
| C2 Grants to institutions C3 Related party transactions C1 Nature and purpose of funds(may be stated on analysis of funds worksheets) |
Unrestricted income funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charityand which have not been designated for otherpurposes. Expendable endowment funds are those which are required to be invested to produce income but which may be transferred to unrestricted funds at the discretion of the trustees in order that they may be expended in furtherance of the charity's objectives. |
|
| Recipient (1 unless stated/UK unless stated) Disasters Emergency Committee The Choir With No Name |
£ 50,000 25,000 |
|
| 75,000 | ||
| During the year under review Coutts & Co, a trustee of the charity, were paid fees for the provision of administration and investment management services amounting to £4,192 as authorised under clause 6 of the trust deed. No trustee received any remuneration and one trustee was reimbiursed travel expenses totalling £47 in the year under review. |
CCXX R8 accounts (SS)
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Independent Examiner's Report to the Trustees of The Garennie Charitable Trust
I report to the charity trustees on my examination of the accounts of the charity for the year ended 30 June 2022 as set out on pages 6 to 8.
Responsibilities and basis of report
As the charity’s trustees 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 charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the 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 charity as required by section 130 of the Act; or 2. the accounts do not accord with those records.
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.
03 April 2023
Geoffrey Frost BSc(Hons) FCA Date Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY
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