Charity No: 1154026
THE CHRISTOPHER ROBINS CHARITABLE TRUST
Trustees Report and Unaudited Accounts
For The Year Ended
13 June 2022
THE CHRISTOPHER ROBINS CHARITABLE TRUST
CONTENTS
| Reference and Administrative Information | 1 |
|---|---|
| Report of the Trustees | 2 – 3 |
| Independent Examiners Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Accounting Policies | 7 – 8 |
| Notes to the Accounts | 9 - 13 |
THE CHRISTOPHER ROBINS CHARITABLE TRUST
REFERENCE AND ADMINISTRATIVE INFORMATION
(Registered Charity Number: 1154026)
Trustees
Principal Address
Independent Examiner
N Livock T Short J Short 10 Main Street Kirkby Lonsdale Carnforth Lancashire LA6 2AG Colin Johnson MHA Moore and Smalley Chartered Accountants Kendal House Murley Moss Business Village Kendal Cumbria LA9 7RL
Page 1
THE CHRISTOPHER ROBINS CHARITABLE TRUST
REPORT OF THE TRUSTEES
The Trustees present their report and the financial statements of the charity for the year ended 13 June 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the Trust’s governing document, 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 in October 2019.
Objectives and Activities
The charity was set up for the public benefit and to further such purposes as are exclusively charitable in accordance with the Laws of England and Wales in the Parish of Kirkby Lonsdale and the surrounding Parishes as the Trustees may from time to time decide.
The Trustees have had due regard to the guidance published by the Charity Commission on Public Benefit.
Achievements and Performance
The eighth year of the Trust has been extremely busy. Our purchase of the Newsagents and Florists property has enabled these businesses to stay in Kirkby. We believe in providing essential shops and we have also refurbished the newsagents building. We have already had an increased number of applications for grants for this coming year, including for our primary school. Our defence of the public land has played a part in our grant giving and we feel satisfied that we have been helpful in this. We have also assisted new local businesses as we believe a thriving economy is of great help to all.
Plans for the future.
This coming year will be a year of consolidation. We will concentrate on trying to widen our horizons with regard to giving grants and we are discussing providing a community electric bus to connect our various communities. This will involve volunteers and will have a positive environmental impact. The Poetry Festival is taking place this August and this was entirely a Charity initiative, we hope to further this and try and bring poetry to our community and schools. We expect to be able to increase our contribution to our community.
Financial Review
Reserves Policy – the running costs of the charity are relatively low and therefore only a minimal reserve is required. It is the Trust’s aim to have a reserve to cover 6 months running costs. At the year end the reserves are in line with the policy.
Investment Policy – under the trust Deed the Trustees have the power to make any investment which they see fit in furtherance of the Trust’s aims and objectives. It is the Trustees’ aim to invest 20% of the income every year, whether through property, investment portfolio or cash deposits. This will help to provide additional income to give as grants and meet the Charity’s objectives. Programme related investments are also considered if they meet the Trusts objectives.
Page 2
THE CHRISTOPHER ROBINS CHARITABLE TRUST
REPORT OF THE TRUSTEES (CONTINUED)
Structure, Governance and Management
The charity was established by a charitable trust deed on 25 March 2011 by Christopher Robins to be the main beneficiary of his estate upon death. Christopher Robins died on the 25 August 2012.
The Trustees who served during the year were:
J Short N Livock T Short
The Trustees are appointed by the Board of Trustees and serve until they resign or retire. The Trustees ensure that new Trustees have the necessary skills to contribute to the Charity’s management and development.
The Trustees meet regularly to discuss the general running of the charity, the financial position and any grant requests that have been made.
The Trustees have identified the major risks to which the charity is exposed. Those risks have been reviewed and systems established to mitigate them. In keeping under review the Trust’s activities, Trustees are mindful of the potential for any changes to the present range of risks and will adjust systems when and where required.
Trustees’ responsibilities
The trustees are responsible for preparing the Trustees’ Annual 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 year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP 2015 (FRS 102);
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that 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.
04/09/2022
Signed on behalf of the Board of Trustees on …………
J Short Trustee
Page 3
THE CHRISTOPHER ROBINS CHARITABLE TRUST
INDEPENDENT EXAMINERS’ REPORT TO THE TRUSTEES OF THE CHRISTOPHER ROBINS CHARITABLE TRUST
I report to the charity trustees on my examination of the accounts of the charity for the year ended 13 June 2022 which are set out on pages 5 to 13.
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
-
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
Colin Johnson FCCA MHA Moore and Smalley Kendal House Murley Moss Business Village Oxenholme Road Kendal Cumbria LA9 7RL
12/09/2022 Dated:
Page 4
THE CHRISTOPHER ROBINS CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 13 JUNE 2022
| Income and endowments from: Investments 1 Total income and endowments Expenditure on: Charitable activities: Grants payable 3 Other costs 2 Total Net income Gains/(losses) on investment assets 6 |
2022 2021 £ £ 119,473 115,076 |
|---|---|
| 119,473 115,076 |
|
| 27,694 31,319 48,276 23,813 |
|
| 75,970 55,132 |
|
| 43,503 59,944 - 122,777 |
|
| Net movement in funds Reconciliation of funds: |
43,503 182,721 |
| Total funds brought forward | 1,884,638 1,701,917 |
| Total funds carried forward | |
| 1,928,141 1,884,638 |
|
Page 5
THE CHRISTOPHER ROBINS CHARITABLE TRUST BALANCE SHEET FOR THE YEAR ENDED 13 JUNE 2022
| Fixed assets Investments 4 Current assets |
£ £ £ £ 2,262,823 2,131,500 2022 2021 |
£ £ £ £ 2,262,823 2,131,500 2022 2021 |
|---|---|---|
| Debtors 5 |
4,200 | 200 |
| Cash at bank and in hand Creditors:amounts falling due within one year 7 Net current (liabilties)/ assets Creditors:amounts falling due after more than one year 8 Net assets Funds: Balance brought forward Surplus for the year Total funds |
16,605 | 22,967 23,167 (19,266) (3,734) 3,901 (330,948) (250,763) 1,928,141 1,884,638 1,884,638 1,701,917 43,503 182,721 1,928,141 1,884,638 |
| 20,805 (24,539) |
04/09/2022
These accounts were approved by the Trustees on …………………….and signed on their behalf.
………………………………………….. J Short – Trustee ………………………………………….. ……………………………………….. T Short – Trustee N Livock - Trustee
Page 6
THE CHRISTOPHER ROBINS CHARITABLE TRUST
ACCOUNTING POLICIES FOR THE YEAR ENDED 13 JUNE 2022
Basis of accounting
The financial statements have been prepared in accordance with 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) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016), the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.
The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.
Christopher Robins Charitable Trust meets the definition of a public entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Income and endowments
All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income, it is probable it will be received and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
-
a) Voluntary income is received by way of grants, donations, legacies and gifts and is included in full in the Statement of Financial Activities. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
-
b) Donated services and facilities are included at value to the charity where this can be quantified. No amounts are included in the financial statements for services donated by volunteers.
-
c) Investment income is included when receivable.
-
d) If income is received but the related performance does not take place until a further accounting year the income will be deferred to that accounting year.
Expenditure
All expenditure is accounted for on an accruals basis inclusive of any VAT which cannot be recovered and has been classified under headings that aggregate all costs related to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with use of the resources.
-
a) Costs for generating voluntary income are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.
-
b) Charitable activity expenditure comprises those costs incurred by the charity in the delivery of its activities and services. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Grant requests are made to The Christopher Robins Charitable Trust and a decision is made by the Trustees as to whether the grant should be made and the amount of such grants.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.
Page 7
THE CHRISTOPHER ROBINS CHARITABLE TRUST ACCOUNTING POLICIES (CONTINUED) FOR THE YEAR ENDED 13 JUNE 2022
Cash at bank and in hand
Cash at bank and cash 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.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Fund accounting
Unrestricted funds 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.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund.
Investments
Investment income represents rentals received from the investment properties, interest earned on the loan investment and programme related investment and from the investment of temporary surplus funds placed on deposit, from dividends received on the investments held within the investment portfolio, and are included in the accounts when receivable.
Investment properties - are stated at market value at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluations and disposals throughout the year.
Equity investments – are stated at market value at the balance sheet date with any gain or loss on revaluation or disposal being recognised in the statement of financial activities in the year.
Investment loans and programme related investments – are stated at cost. Programme related investments are those investments that have been made to pursue the Charity’s objectives and not purely for their investment return.
Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Page 8
THE CHRISTOPHER ROBINS CHARITABLE TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 13 JUNE 2022
1 Income from investments
| ncome from investments | |
|---|---|
| Rental income Loan interest receivable Bank interest receivable Expenditure |
2022 2021 £ £ 107,418 88,127 12,055 26,906 - 43 |
| 119,473 115,076 |
|
| Charitable activities Grants payable (note 3) Other costs: Costs in relation to rental properties oan interest Other costs Accountancy fees Total other costs Total expenditure |
Total Total 2022 2021 £ £ 27,694 31,319 |
| 32,379 9,588 10,649 10,259 2,302 1,044 2,946 2,922 |
|
| 48,276 23,813 |
|
| 75,970 55,132 |
2 Expenditure
3 Grants payable
| Grants payable | |
|---|---|
| Grants payable to individuals Jody Tomlinson George Collins Nancy Heels Henry Brooks Maya Clarke Isabella Hubbard Evie Metcalfe Mia Zahler Noah Cookson-Carter Total expenditure |
Total Total 2022 2021 £ £ - 400 - 500 750 500 - 750 500 - 455 - 710 - 1,082 85 500 - |
| 3,997 2,235 |
Page 9
THE CHRISTOPHER ROBINS CHARITABLE TRUST
NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 13 JUNE 2022
3 Grants payable continued
| Grants payable to institutions Peter's promise River repair Dowson field Goodness me Motion Dance Jigsaw lounge Flower Bank Florist The Book Lounge Newsagents revamp Jubilee Weekend Poetry festival Cricket Club Lunesdale Hall Arkholme School Bell Menswear St Marys PC Lunesdale Learning Trust River Walk repairs KLFC KLTC Craven Judo Book Lounge Quaker wellbeing & cycling Bay Buddies – Headway Play Council Zebra Crossing Gardening Association John Hamlett Film E Commerce Website Sure Screens (Covid-19 Tests) Total grants payable |
Total Total 2022 2021 £ £ 2,777 - 4,000 - 2,400 - 1,000 - 180 - 1,000 - 300 - 475 - 5,000 - 1,000 - 2,000 - 250 1,320 - 3,000 - 2,000 - 1,500 500 1,000 - 1,000 - 50 - 3,000 - 300 - 1,500 - 500 - 500 - 3,000 - 1,000 - 4,800 - 200 2,500 2,500 315 1,001 - 913 |
|---|---|
| 23,697 29,084 |
|
| 27,694 31,319 |
|
Page 10
THE CHRISTOPHER ROBINS CHARITABLE TRUST
NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 13 JUNE 2022
4 Fixed assets and investments
| Brought forward Additions Revaluations Repayments Disposal Cost & market Value at 13 June 22 |
Total 2022 Total 2021 £ £ £ £ £ 1,415,000 699,500 17,000 2,131,500 1,858,723 680,823 - - 680,823 150,000 - - - - 122,777 - (549,500) - (549,500) - - - - - - Investment properties Investment loan Programme related investment |
|---|---|
| 2,131,500 2,262,823 2,095,823 150,000 17,000 |
|
On historical cost basis the Investment properties would be valued at £1,888,860 (2021: £1,208,037).
The charity’s Investment properties were last valued on 28 September 2020 at £1,415,000 by Hackney and Leigh Limited, independent valuers who are not connected with the charity on the basis of market value of the properties.
The trustees consider the closing valuation to be a fair indication of the value of the investment properties at 13 June 2022 recognising there is an element of subjectivity of the valuations.
The investment loans represent loans provided for the purchase of freehold property and are secured upon said properties. The term of the £370,000 loan had been renegotiated and was a rolling loan provided on an interest only basis of 3.5%. During the year ended 2022 this loan was repaid in full. The loan of £269,500 was provided on an interest only basis of 4.4% and was also repaid in full during the financial year. In the year ended 2021, a loan of £150,000 was provided on an interest only basis of 3.65% and this is the only loan remaining.
The programme related investment is a loan given to a local business to help with the purchase of land in the community to assist their business and is secured upon said land. The loan is provided on an interest only basis at 5% fixed. There is no set term for the repayment of the loan, and this will be reviewed periodically.
5 Debtors
| Debtors | |
|---|---|
| Other debtors | 2022 2021 £ £ 4,200 200 |
| 4,200 200 |
Page 11
THE CHRISTOPHER ROBINS CHARITABLE TRUST
NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 13 JUNE 2022
| 6 Current asset investments Analysis of investment gails / (losses) Unrealised - Revaluation gain on investment properties 7 Creditors – amounts falling due within one year Accruals Bank loans and overdrafts 8 Creditors – amounts falling due after more than one year Bank loans and overdrafts Loan from Trustee Analysis of loans Wholly repayable within 5 years: By installments Other than by installments Included in current liabilities |
6 Current asset investments Analysis of investment gails / (losses) Unrealised - Revaluation gain on investment properties 7 Creditors – amounts falling due within one year Accruals Bank loans and overdrafts 8 Creditors – amounts falling due after more than one year Bank loans and overdrafts Loan from Trustee Analysis of loans Wholly repayable within 5 years: By installments Other than by installments Included in current liabilities |
|
|---|---|---|
| 2022 2021 £ £ - 122,777 |
||
| 2022 2021 £ £ 2,946 2,682 21,593 16,584 24,539 19,266 |
||
Bank loans and overdrafts Loan from Trustee Analysis of loans Wholly repayable within 5 years: By installments Other than by installments Included in current liabilities |
2022 2021 £ £ 306,948 250,763 24,000 - 330,948 250,763 43,662 50,024 308,879 217,323 (21,593) (16,584) 330,948 250,763 |
9 Taxation
As a charity, The Christopher Robins Charitable Trust is exempt from tax on income and gains falling within sections 472-474 of the Corporation Tax Act 2010, sections 478 - 489 of the Corporation Tax Act 2010, or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity.
Page 12
THE CHRISTOPHER ROBINS CHARITABLE TRUST
NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 13 JUNE 2022
10 Trustees
During the year, there was a loan to the Trust for £24,000 from a trustee (2021: £nil). This has no repayment date requested from the Trustee and is a creditor over one year.
During the current and previous year, no remuneration was paid to trustees. During the year one trustee was reimbursed for expenses paid on behalf of the Trust for repairs and running costs to Trust properties totalling £26,491 (2021: £7,297).
11 Employees
There were no employees during the current or previous year.
12 Control
No single individual has had control of the charity in the current or previous year.
Page 13