# Countess Mountbatten of Burma Romsey Memorial Trust Charity Registration No. 1155615
Trustees' report and unaudited accounts
For the year ended 31 May 2024
## Countess Mountbatten of Burma Romsey Memorial Trust
## Legal and administrative information
|Trustees|Lady Alexandra Knatchbull|
|---|---|
||Richard Gutsell|
||Richard Jordan-Baker|
||Dr Frank MacDonald Akerman|
||The Rt Hon The Countess Mountbatten of Burma|
|Charity number|1155615|
|Principal address|The Estate Ofce|
||Broadlands|
||Romsey|
||Hampshire|
||SO51 9ZD|
|Accountants|Evelyn Partners LLP|
||Accountants|
||Old Library Chambers|
||21 Chipper Lane|
||Salisbury|
||Wiltshire|
||SP1 1BG|
|Independent examiner|Simon Ellingham FCA|
||Fawcetts LLP|
||Windover House|
||St Ann Street|
||Salisbury|
||Wiltshire|
||SP1 2DR|
|Solicitors|Wilsons Solicitors LLP|
||Alexandra House|
||St. John's Street|
||Salisbury|
||Wiltshire|
||SP1 2SB|
## Countess Mountbatten of Burma Romsey Memorial Trust
## Contents
||Page|
|---|---|
|Trustees' report|1 - 4|
|Independent examiner's report|5|
|Statement offnancial activities|6|
|Balance sheet|7|
|Notes to the accounts|8 - 11|
## Countess Mountbatten of Burma Romsey Memorial Trust
## Trustees' report for the year ended 31 May 2024
The trustees present their report with the accounts of the charity for the year ended 31 May 2024. 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) (e ff ective 1 January 2019).
## Objectives and Activities
## Objectives and aims
The Trust was set up as a memorial to the late Edwina, 1st Countess Mountbatten of Burma on 22 March 1962. The land was donated by her husband, the 1st Earl Mountbatten of Burma. The funds for the buildings were grants and subscriptions from the public to "The Countess Mountbatten of Burma Romsey Memorial Fund" and the home to be known as "Edwina Mountbatten House".
Until July 2022 the charity provided, at the residential home, care for older people from the local community and surrounding area. The objective prior to July 2022 was: "for the public bene fi t to relieve elderly people who are in need, in particular but without limitation by providing housing, services or facilities calculated to relieve the needs of such persons at properties maintained by the CIO". However, post September 22nd of 2023, the objective of the Trust became ‘’for the public bene fi t providing support for the elderly in need in the Romsey and surrounding area’’. The change came about for the reasons stated below.
## Signi fi cant activities
Prior to July 2022 the Trust managed a single property in Romsey, Edwina Mountbatten House, comprising: 17 single occupancy rooms supported with full time carers; 4 independent living almshouse fl ats; and 2 garages. In ful fi lling the charity's object, the trustees had historically limited the provisions to 'residential care'. Latterly this was extended to cater for early-stage dementia care, following a period of additional sta ff recruitment and training, because a Development Plan had been initiated during 2017 to improve the long-term sustainability of the home in the face of reduced demand for purely residential care and increased demand for dementia care. Original rooms were small and lacked en-suite toilet and washing facilities, were outdated and fell below the current standards. Additionally, the Covid-19 Pandemic caused serious problems.
The operation of the home was, and continued to be, badly a ff ected by the pandemic and the subsequent national fi nancial environment. The signi fi cant increases in running costs combined with the di ffi culties in recruiting sta ff , caused the trustees to undertake a major review of the continued fi nancial viability of the care home. On 12th May 2022 the trustees accepted that the operation of the home was no longer fi nancially viable and therefore with great regret it should close, the building sold and that the charity would continue to operate utilising the proceeds of the sale. The necessary consultation programme was undertaken and the home closed on 15th July 2022. The building and land was sold to Churchill Retirement Living in January 2023.
The home had employed around 30 sta ff , full and part time. There were no voluntary sta ff , although the time expended by the trustees was given freely given the trustees complied with their duty to have due regard to the commission's public bene fi t guidance when exercising powers or duties to which the guidance is relevant.
## Achievement and performance
Prior to July 2022 the Trust delivered for the public bene fi t, a ff ordable, accessible, quality residential care.
Post September 2023 the Trust will provide funding for grants ‘’for the public bene fi t providing support for the elderly in need in the Romsey and surrounding area’’ arising from the monies produced from the investment of the proceeds of the sale of the building and land. The funds from the sale have been invested with the fi rm Evelyn Partners Investment Management LLP.
- 1 -
## Countess Mountbatten of Burma Romsey Memorial Trust
## Trustees' report for the year ended 31 May 2024
## Financial review
## Financial position
The Trust’s fi nancial position improved during the year leading to an increase in reserves to £1,898,050 (2023: £1,760,006). Income of £27,302 (2023: £86,753) exceeded expenditure of £24,798 (2023: £316,197). After realised gains of £135,540 (2023: £1,435,087), there was a net increase in funds for the year of £138,044 (2023: £1,205,643).
## Principal risks and uncertainties
The charity’s risks and uncertainties are now based on two areas, the results provided by the investors, Evelyn Partners and the decision making of the Trustees. Both are deemed to be areas of low risk.
## Principal funding sources
The principal funding source in the prior year was residential fees received for use of the Trust's rooms and fl ats. Funding comprised a mix of resident self-funding, HCC part funded residents and top up support from the Trust.
Post September 2023, the charity’s only funding is from the interest from its investments.
## Reserves policy
The Trust’s net assets for the year ended at £1,898,050 (2023: net current assets of £1,760,006). The trustees consider that the reserves held are su ffi cient to allow future grants / donations to be made at the discretion of the trustees, in line with their policy. All reserves are unrestricted.
## Structure, Governance and Management
The Trust is run by unpaid trustees. The trustees will now meet at least once per year to discuss the major issues a ff ecting the Trust, as well as assessing the monthly performance. Applications to the Trust will be discussed at the Annual General Meeting and decisions regarding any gifts to deserving causes will be made.
## Governing document
The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) Accounting and Reporting by Charities issued in March 2005, the deed of trust and the Charities Act 1993, as amended by the Charities Act 2006.
The charity was originally controlled by its governing document, a deed of trust, as an unincorporated charity, formerly number 206009. As from the 21st May 2014, the Trust assets, liabilities, employees and operations were transferred to a charitable incorporated organisation (CIO), governed by its Foundation Constitution. This constitution was amended in August 2023.
- 2 -
## Countess Mountbatten of Burma Romsey Memorial Trust
## Trustees' report for the year ended 31 May 2024
## Trustees
The trustees serving the charity during the fi nancial year were:
Alan Hyde (resigned 16 July 2023) Soraya Taylor (resigned 20 August 2023) Richard Gutsell Richard Jordan-Baker Dr Frank MacDonald Akerman The Rt Hon The Countess Mountbatten of Burma Lady Alexandra Knatchbull
The appointment of new trustees is governed by the constitution of the CIO. New trustees are informed of their obligations under Charity Law and including the recent Charity Governance Code; the Charity Commission Trustee welcome pack and trustee's responsibilities (CC3); and clearance through the Disclosure Barring Service.
- 3 -
## Countess Mountbatten of Burma Romsey Memorial Trust
## Trustees' report for the year ended 31 May 2024
## Trustees' responsibilities
The trustees are responsible for preparing the trustees' report and the accounts in accordance with applicable law and regulations.
The law applicable to charities in England and Wales requires the trustees to prepare accounts for each fi nancial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable regulations). Under that law the trustees must not approve the accounts unless they are satis fi ed that they give a true and fair view of the state of a ff airs of the charity and of the incoming resources and application of resources of the charity for that year.
In preparing these accounts, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
The Trustees report states whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts, and prepares the accounts 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 which are su ffi cient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the fi nancial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charities (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.
On behalf of the board of trustees
Richard Jordan-Baker ...................................................................... Richard Jordan-Baker Trustee
Date: 18 March 2025
- 4 -
## Countess Mountbatten of Burma Romsey Memorial Trust
## Independent examiner's report to the trustees of Countess Mountbatten of Burma Romsey Memorial Trust
I report to the trustees on my examination of the accounts of the Countess Mountbatten of Burma Romsey Memorial Trust for the year ended 31 May 2024 which comprise the statement of fi nancial activities, the balance sheet and the notes to the accounts, including a summary of signi fi cant accounting policies.
## Respective responsibilities of trustees and examiner 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 con fi rm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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 my 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.
## Simon Ellingham
...................................................................
## Simon Ellingham FCA
Fawcetts LLP Chartered Accountants Windover House St Ann Street Salisbury Wiltshire SP1 2DR
> Date: 20 March 2025
- 5 -
## Countess Mountbatten of Burma Romsey Memorial Trust
## Statement of fi nancial activities for the year ended 31 May 2024
|Unrestricted
funds
Notes
£
Income:
Donations and legacies
-
Investment income
2
27,302
Charitable activities
Care provision
-
Rental income
-
Interest
-
Total
27,302
Expenditure
Fundraising costs - investment
management fees
13,751
Charitable activities
3
384
Support costs
4
10,663
Total expenditure
24,798
Net expenditure before gains on
assets
2,504
Gains on sale of tangiblefxed assets
-
Net gains/(losses) on investments
135,540
Net movement in funds
138,044
Total funds brought forward
1,760,006
Total funds carried forward
1,898,050|2024
Total
£
-
27,302
-
-
-
27,302
13,751
384
10,663
24,798
2,504
-
135,540
138,044
1,760,006
1,898,050|2023
Total
£
350
-
83,749
2,643
11
86,753
-
204,799
111,398
316,197
(229,444)
1,435,087
-
1,205,643
554,363
1,760,006|
|---|---|---|
The notes on pages 8 to 11 form part of the accounts.
- 6 -
## Countess Mountbatten of Burma Romsey Memorial Trust
## Balance sheet as at 31 May 2024
|Notes
Fixed assets
Investments
7
Current assets
Debtors
8
Cash at bank and in hand
Current liabilities
Creditors
9
Net current assets
Total assets less liabilities
The funds of the charity
Unrestricted funds
Total charity funds|£
-
202,912
202,912
(11,130)
(11,130)|2024
£
1,706,268
191,782
1,898,050
1,898,050
1,898,050|£
909
1,777,789
1,778,698
(18,692)
(18,692)|2023
£
-
1,760,006|
|---|---|---|---|---|
|||||1,760,006|
|||||1,760,006|
|||||1,760,006|
The accounts were approved by the board, authorised for issue and signed on their behalf by:
## Richard Jordan-Baker
.............................. Richard Jordan-Baker Trustee
> Date: 18 March 2025
- 7 -
Countess Mountbatten of Burma Romsey Memorial Trust
Notes to the accounts for the year ended 31 May 2024
## 1 Accounting policies
## 1.1 General information
The Countess Mountbatten of Burma Romsey Memorial Trust was established by a trust deed dated 22 March 1962. As from 21 May 2014, the Trust's assets, liabilities, employees and operations were transferred to a charitable incorporated organisation (CIO), governed by its Foundation Constitution. It is registered with the Charity Commission in England & Wales (No. 1155615). The address of the principal o ffi ce is The Estate O ffi ce, Broadlands, Romsey, Hampshire, SO51 9ZD.
## 1.2 Basis of preparation
The accounts 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) (e ff ective 1 January 2019).
The charity is a public bene fi t entity as de fi ned by FRS 102.
The accounts have been prepared under the historical cost convention. The charity only has fi nancial assets and fi nancial liabilities of a kind that qualify as basic fi nancial instruments. Basic fi nancial instruments are recognised at transaction value.
The accounts are prepared on a going concern basis; there are no material uncertainties about the charity's ability to continue as a going concern.
The charity's presentational currency is GBP and monetary amounts in these accounts are rounded to the nearest £1.
## 1.3 Income
All incoming resources are included in the statement of fi nancial activities when the charity is legally entitled to the income, receipt is probable and the amount can be quanti fi ed with reasonable accuracy.
## 1.4 Expenditure
All expenditure is accounted for on an accruals basis and recognised where there is a legal or constructive obligation committing the trustees to the expenditure. Expenditure is included under expense categories that aggregate all costs. Where costs cannot be directly attributed to particular activities, they have been allocated on a basis consistent with the use of resources.
## 1.5 Investments
Investments are included at market value at the balance sheet date. Realised gains and losses on investments, calculated on the di ff erence between the sale proceeds and their cost, are credited or charged to the Statement of fi nancial activities in the year of the gain or loss.
Unrealised gains and losses representing the movement in the market values during the year are credited or charged to the Statement of fi nancial activities in the year of the gain or loss.
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## Countess Mountbatten of Burma Romsey Memorial Trust
## Notes to the accounts for the year ended 31 May 2024
## 1 Accounting policies
## (Continued)
## 1.6 Fund accounting
All funds held are unrestricted. Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
## 2 Investment income
|Investment income|||
|---|---|---|
|Investment income - dividends
Investment income - bank interest|2024
£
23,433
3,869
27,302|2023
£
-
-|
|||-|
## 3 Charitable activities costs
|Charitable activities costs|||
|---|---|---|
|Unrestricted
funds
£
Stafcosts (note 5)
-
Rates and water
-
Insurance
-
Light and heat
-
Telephone
-
Postage and stationery
-
Sundries
-
Provisions
-
Software
-
Maintenance costs
-
Closure costs
384
Cleaning and contract services
-
Household and medical
-
384|2024
Total
£
-
-
-
-
-
-
-
-
-
-
384
-
-
384|2023
Total
£
168,644
4,768
7,782
4,307
172
491
418
1,966
2,721
10,945
(5,430)
5,828
2,187|
|||204,799|
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## Countess Mountbatten of Burma Romsey Memorial Trust
## Notes to the accounts for the year ended 31 May 2024
## 4 Support costs
|Support costs|||
|---|---|---|
|Independent examiner's fee (governance cost)
Accountancy fees (governance cost)
Registration costs
Legal and professional fees
Training costs
Bookkeeping and secretarial
Bank charges and interest
Ofce costs|2024
£
1,663
2,273
-
4,466
-
-
139
2,122
10,663|2023
£
1,584
5,670
945
97,662
(750)
1,787
4,500
-|
|||111,398|
## 5 Trustees' remuneration and bene ts
None of the trustees (or any persons connected with them) received any remuneration or were reimbursed for any expenses during the year (2023: none).
## 6 Sta costs
|Stafcosts|||
|---|---|---|
|Wages and salaries
Social security costs
Other pension costs|2024
£
-
-
-
-|2023
£
153,829
12,566
2,249|
|||168,644|
The average monthly number of employees during the year was 0 (2023: 4).
## 7 Fixed asset investments
|Fixed asset investments|||
|---|---|---|
|Market value
Balance at 1 June 2023
Purchases
Disposals at cost
Net investment gains
Balance at 31 May 2024|2024
£
-
1,679,788
(82,402)
108,882
1,706,268|2023
£
-
-
-
-|
|||-|
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## Countess Mountbatten of Burma Romsey Memorial Trust
## Notes to the accounts for the year ended 31 May 2024
|8
Debtors: amounts falling due within one year
Trade debtors
9
Creditors: amounts falling due within one year
Trade creditors
Accrued expenses||2024
£
-
-
2024
£
-
11,130
11,130|2023
£
909|
|---|---|---|---|
||||909|
||||2023
£
1,009
17,683|
||||18,692|
## 10 Related party disclosures
During the year, the Charity paid £nil (2023: £1,787) to the wife of a trustee who retired during the year ended 31 May 2023, Cllr. I Hibberd for administration services.
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