2023-03-31-accounts - The Tony And Audrey Watson Charitable Trust

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THE TONY AND AUDREY WATSON CHARITABLE TRUST

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023

Prepared by: Thrings LLP 2 Queen Square Bath BA1 2HQ

The Tony and Audrey Watson Charitable Trust

Contents of the Financial Statements

FOR THE YEAR ENDED 31 MARCH 2023

	Page
Report of the Trustees	1-2
Independent Examiner's Report	3
Statement of Financial Activities	4
Balance Sheet	5
Notes to the Financial Statements	6

The Tony and Audrey Watson Charitable Trust

Report of the Trustees for the year ended 31 March 2023

The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. 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) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Trustees shall hold the capital and income of the Trust Fund upon trust to apply the income, and all or such parts of the capital, at such time or times and in such a manner to, or for the benefit of, such exclusively charitable organisations, objects and purposes in any part of the world as the Trustees may in their discretion think with primary areas of interest being local charities and those in Africa.

The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities and setting grant making policy for the year.

ACHIEVEMENT AND PERFORMANCE

Charitable Activities

The Settlor has transferred funds to the Trustees who have deposited them in the Trust's bank account. The Trustees had meetings to consider the application of the income and capital to charitable activities.

FINANCIAL REVIEW

Principal funding sources

The principal funding source of the Trust is from donations being £100,000 (2022 £100,000) and reclaim of Gift Aid of £25,000 (2022 £25,000). Grants of £125,000 were incurred in the year (2022, £115,000).

Reserves policy

The Trust does not have a reserve policy as the Trust Deed provides for the distribution of income and capital as deemed appropriate.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust dated 22 April 2014, and constitutes an unincorporated charity.

Charity constitution

The Trustees may appoint a new trustee at any time, either by way of replacement or addition, and not withstanding that the total number of trustees may exceed four but shall not exceed seven.

The Tony and Audrey Watson Charitable Trust

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1158387

Principal address

2 Queen Square Bath BA1 2HQ

Trustees

M Krill A Watson Mrs EA Watson T Watson M Young (retired 26th April 2022) S Watson

Independent Examiner

Andrew Jordan FCA Haines Watts Chartered Accountants 6-8 Bath Street Bristol BS1 6HL

18 December 2023

Approved by the trustees on …………………………………………………………………….……….and signed on their behalf by:

……………………………………………………………………………

on behalf of the Trustees

The Tony and Audrey Watson Charitable Trust

Independent Examiner's Report to the Trustees of the Tony & Audrey Watson Charitable Trust

I report to the charity trustees on my examination of the accounts for the year ended 31st March 2023 set out on pages four to ten.

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 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 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.

……………………………………………………………………………………….. Date …………………………………………2023 18 December

Andrew Jordan FCA

Haines Watts Chartered Accountants 6-8 Bath House Bath Street Bristol BS1 6HL

The Tony and Audrey Watson Charitable Trust

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2023

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
Note Income and Endowments from: Donations and legacies 2 Interest receivable 3 Total Expenditure on: Charitable activities Grant funding 4 Total Net Income/(Expenditure) & net movement in funds Total funds brought forward Total funds at 31 March 2023	Total Total 2023 2022 £ 125,000 125,000 225 512
	125,225 125,512 128,300 116,980
	128,300 116,980
	(3,075) 8,532 201,904 193,372
	198,829 201,904

All of the above results are derived from continuing activities. All funds in the current and prior year are unrestricted.

The Tony and Audrey Watson Charitable Trust

BALANCE SHEET AT 31ST MARCH 2023

BALANCE SHEET AT 31ST MARCH 2023
Note Current Assets Cash at bank Creditors Amounts falling due within one year 8 Net Current Assets Total Assets less Current Liabilties Net assets Funds Unrestricted funds	2023 2022 £ £ 201,589 203,884
	201,589 203,884 (2,760) (1,980)
	198,829 201,904
	198,829 201,904
	198,829 201,904
	198,829 201,904
	198,829 201,904

18 December 2023

Approved by the Trustees on ……………………….………………………. and signed on their behalf by:

…………………………………

on behalf of the Trustees

The Tony and Audrey Watson Charitable Trust

NOTES TO THE ACCOUNTS

1 ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

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 Accounting and Reporting by Charitites preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2015 which has since been withdrawn.

The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. There are no material uncertainties about the charity’s ability to continue as a going concern.

The financial statements are prepared in sterling which is the functional currency of the charity and are rounded to the nearest £.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits wil be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end are noted as a commitment but not accrued anywhere as expenditure.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objects at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Financial Instruments

The charity only has financial assets and 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.

Short term liquid investments and cash

Cash at bank is held to meet short-term cash commitments as they fall due rather than for investment purposes and includes all cash equivalents held in the form of short-term highly liquid investments. Cash equivalents are short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value

The Tony and Audrey Watson Charitable Trust

NOTES TO THE ACCOUNTS

2 Donations and legacies Donations received Gift Aid income claimed 3 Investment Income Deposit account interest 4 Charitable Activities Costs Grant funding of activities Support costs		2023 £ 100,000 25,000	2022 £ 100,000 25,000
		125,000 2023 £ 225	125,000 2022 £ 512
		225 2023 £ 125,000 3,300	512 2022 £ 115,000 1,980
		128,300	116,980

The Tony and Audrey Watson Charitable Trust

5 Grants payable

5 Grants payable
Analysis of grants to institutions: Number of grants paid Afrikaya 1 Alzheimers' Research UK 1 Book Aid International 1 Borderlands (South West) 1 Bowel Disease Research Foundation 1 Brightsight Mission 1 Cystic Fibrosis Trust 1 Designability 1 Doorway 1 Fare Share South West 1 Guide Dogs 1 Hope Community Village 1 Jesuit Refugee Service 1 Julia's House Children's Hospice 1 Julian House 1 Kalayaan 1 Lincolnshire Rural Support Network 1 Macular Society 1 Medair Emergency Relief & Recovery 1 Project Mala 1 RAF Benevolent Fund 1 RNIB (Talking Books) 1 Send a Cow 1 Sense International 1 St Mungo's 1 6 Support Costs Professional fees relating to the administration of the trust of:- Professional fees relating to the independent examination of:- (Including underprovision of £60 for 31.3.2022 year end)	2023 Total paid £ 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000	2022 Total paid £ 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000
	125,000 2023 £ 2,280 1,020	115,000 2022 £ 1,080 900
	3,300	1,980

The Tony and Audrey Watson Charitable Trust

7 Trustees' Remuneration and Benefits

There were no trustees' remunerations or other benefits for the year ended 31 March 2023 nor for the year ended 31st March 2022.

There were also no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31st March 2022.

8 Creditors: Amounts falling due within one year

8 Creditors: Amounts falling due within one year
Thrings LLP - Professional fees including VAT Independent Examiners' fees (Including underprovision of £60 for 31.3.2022 year end) 9 Movement in Funds Unrestricted funds General fund Net movement in funds, included in the above are as follows: Unrestricted funds General fund 10 Comparative year - movement in Funds Unrestricted funds General fund Net movement in funds, included in the above are as follows: Unrestricted funds General fund	At 1.4.22 £ 201,904		2023 £ 1,800 960	2022 £ 1,080 900
		2,760 Net movement in funds £ (3,075)		1,980 At 31.3.23 £ 198,829
	Incoming resources £ 125,225	Resources expended £ (128,300)		Movement in funds £ (3,075)
	At 1.4.21 £ 193,372	Net movement in funds £ 8,532		At 31.3.22 £ 201,904
	Incoming resources £ 125,512	Resources expended £ (116,980)		Movement in funds £ 8,532

The Tony and Audrey Watson Charitable Trust

11 Related Party Disclosures

During the year aggregate donations of £100,000 (2022 £100,000) were received from the trustees.

Alastair Michael Stuart Young was a trustee of The Tony & Audrey Watson Charitable Trust for part of the accounting period and was on the staff list for Thrings LLP until 31st March 2022. Thrings carry out all of the administration and accounts preparation for the trust. The fee charged for this service in this year was £2,280 including VAT (2022: £1,080).