Registered Charity No. 1158964
## **THE BETTY PHILLIPS CHARITABLE TRUST**
## **ACCOUNTS**
**FOR THE YEAR ENDED 31 DECEMBER 2023**
## **THE BETTY PHILLIPS CHARITABLE TRUST**
## **INDEX TO THE ACCOUNTS**
||**Page**|
|---|---|
|Legal and administrative information|1|
|Trustees' annual report|2 - 3|
|Independent examiners report|4|
|Receipts and payments accounts|5 - 6|
|Statement of assets and liabilities|7|
|Notes to the accounts|8|
## **THE BETTY PHILLIPS CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2023**
|**Trustees:**|Andrew Holloway|
|---|---|
||Andrew Jones|
||Helen Wayman|
||Michael Vines|
||Helen Mansfield|
||Andrew Ollerenshaw|
|**Principal address:**|C/o Tayntons solicitors|
||5th floor|
||Llanthony Warehouse|
||The Docks|
||Gloucester|
||GL1 2EH|
|**Bankers:**|Lloyds Bank plc|
||Eastgate Street|
||Gloucester|
|**Solicitors:**|Tayntons Solicitors|
||5th floor|
||Llanthony Warehouse|
||The Docks|
||Gloucester|
||GL1 2EH|
|**Investment Advisors:**|Evelyn Partners|
||103 Colmore Row|
||Birmingham|
||B3 3AG|
|**Independent Examiner:**|C. Bishop, F.C.C.A., A.C.A|
||Pitt Godden & Taylor LLP|
||Unit 3 Ambrose House|
||Meteor Court|
||Barnett Way|
||Barnwood|
||Gloucester|
||GL4 3GG|
1
## **THE BETTY PHILLIPS CHARITABLE TRUST**
## **TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023**
The Trustees have pleasure in presenting their Annual Report for the period ended 31 December 2023
## **Status**
The Betty Phillips Charitable Trust was established under a Declaration of Trust dated 10 December 2013, which was supplemental to a Will dated 18 August 1995. It is a registered charity, number 1158964.
## **Trustees**
New trustees are appointed by the current board of trustees.
## **Activities**
The objects of the charity are to apply the income and at their discretion all or part of the capital for the charitable objects of assisting with the welfare and to relieve the suffering of animals throughout the United Kingdom, of Great Britain and Northern Ireland, who are in need of care and attention by reason of sickness, maltreatment, poor circumstances or ill usage.
## **Results and review of activities**
The income for the period amounted to £110,203 (2022: £104,160). The Grants paid to various animal charities were £128,563 (2022: £124,688) which includes £37,000 paid out from the restricted fund. This is in line with the Trust deed which permits such payments. Other costs,which consist mainly of professional fees, total £15,258 (2022: £14,812). The resulting surplus of £3,382 (2022 Deficit : £15,320) has been deducted from the income funds in accordance with the Trust Deed.
The total investment portfolio had a market value at the end of the period of £3,824,456 excluding the cash balances (2022: £3,660,637).
The property owned by the charity had an estimated value of £257,000 (2022: £375,000) and was sold for this amount in the first quarter of the new period.
## **Public Benefit**
During the course of the year, the trustees kept in mind the Charity Commission guidance on public benefit.
Grants were provided to various animal charities in England to enable them to fund their work, a selection are listed below:
Prickles & Paws Hedgehog Rescue received £10,000 to support the costs of a new hedgehog hospital
The Isle of Wight Donkey Sanctuary received £15,000 to help build an equine clinic
Remus Memorial Hospital received £5,800 to install woodchip paddocks for laminitic horses
Heros charity received £10,162.50 to purchase new galebreaks for 3 horsewalkers for winter
Refuge4 pets received £10,000 to help with veterinary costs
In total 28 grants were made in the period and the trustees are always looking for animal welfare charities to support where possible.
2
## **THE BETTY PHILLIPS CHARITABLE TRUST TRUSTEES' ANNUAL REPORT (Continued) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **Investment policy**
Investment of the Trust capital fund is managed by Evelyn Partners, and any funds not so invested are held on deposit with Lloyds bank.
## **Reserves policy**
The charity can expend its capital fund at the Trustees discretion. Any income which is not spent during the year is accumulated in accordance with the Trust Deed. The Trustees aim to hold unrestricted reserves of approximately £20,000 to cover annual administration costs, and any other unforeseen expenditure. The reserves held at the end of the year were £51,293. This is higher than the requirement due to the timing of the meetings when grants are confirmed and the dates dividend income is received from the fund. The surplus will be carried forward to the next Trustees meeting in the new year when the next round of grants are reviewed.
## **Review of major risks**
The Trustees regularly review the potential risks that the Charity might face and are presently satisfied that there are no risks to the underlying financial position.
## **Accounting policies**
The accounts have been prepared on a receipts and payments basis. Income and expenditure which relates to a specific fund has been included within that fund.
The accounts have been prepared in accordance with the Charities Act and comply with statutory documents, and the governing document.
## **Investments**
Investments are stated at market value.
## **Cash deposits**
Cash deposits are stated at the receivable amount.
## **Remuneration**
The Trustees did not receive any remuneration or expenses during the period under review.
SIGNED BY THE TRUSTEES ON 30TH JULY 2024
- A. HOLLOWAY
- A. JONES
3
## **INDEPENDENT EXAMINERS' REPORT TO THE TRUSTEES OF THE BETTY PHILLIPS CHARITABLE TRUST**
I report to the trustees on my examination of the accounts of The Betty Phillips Charitable Trust for the year ended 31 December 2023, which are set out on pages 5 to 8.
## **Responsibilities and basis of report**
As the charity trustees of the Trust 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 Trust's accounts carried out under section 145 of the 2011 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 examiners' 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:
- (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.
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.
C.BISHOP ACA FCCA PITT GODDEN & TAYLOR LLP Chartered Accountants Unit 3, Ambrose House Meteor Court Barnett Way Barnwood Gloucester GL4 3GG
30TH JULY 2024
4
## **THE BETTY PHILLIPS CHARITABLE TRUST**
## **RECEIPTS AND PAYMENTS ACCOUNT (Unrestricted Fund) FOR THE YEAR ENDED 31 DECEMBER 2023**
|||**Year ended**|**Year ended**|
|---|---|---|---|
|||**31 December**|**31 December**|
||**Note**|**2023**|**2022**|
|||**£**|**£**|
|**Receipts**||||
|Investment income||||
|Rents received||1,674|3,348|
|Dividends received|1|106,171|99,787|
|Other interest received|2|2,358|1,025|
|**Total receipts**||110,203|104,160|
|**Charitable payments**||||
|Grants paid out||91,563|104,668|
|Management and administration:||||
|Professional fees||10,200|10,540|
|Software subscription||403|166|
|Independent examination fees||1,447|1,380|
|Repairs and maintenance for property||2,957|2,224|
|Commission paid to lettings agent||251|502|
|**Total payments**||106,821|119,480|
|**Net income/(expenditure) for the period**||3,382|(15,320)|
|**Cash and bank balances brought forward**||47,911|63,231|
|**Cash and bank balances at 31 December 2023**||51,293|47,911|
5
## **THE BETTY PHILLIPS CHARITABLE TRUST**
## **RECEIPTS AND PAYMENTS ACCOUNT (Restricted Fund) FOR THE YEAR ENDED 31 DECEMBER 2023**
||**Year ended**|**Year ended**|
|---|---|---|
||**31 December**|**31 December**|
||**2023**|**2022**|
||**£**|**£**|
|**Receipts**|||
|Sale of investments|||
|Shares and securities|555,572|498,267|
|Total Income|555,572|498,267|
|**Payments**|||
|Grants paid out|37,000|20,000|
|Purchase of investments|502,392|418,525|
|Management and administration|||
|Brokers management fees|26,362|28,013|
|**Total payments**|565,754|466,538|
|**Net (expenditure)/income for the period**|(10,182)|31,729|
|**Balance brought forward**|80,225|48,496|
|**Balance at 31 December 2023**|70,043|80,225|
6
## **THE BETTY PHILLIPS CHARITABLE TRUST STATEMENT OF ASSETS AND LIABILITIES FOR THE YEAR ENDED 31 DECEMBER 2023**
|**Cash funds**
Lloyds Bank plc
Evelyn Partners income account
Evelyn Partners dealing account
**Total cash funds**
**Net funds**
**Investment assets**
Shares,securities and property at market value
**Liabilities**
Grants payable
Repairs
Professional fees|**Unrestricted**
**Restricted**
**Fund**
**Fund**
**£**
**£**
45,011
53,900
6,282
-
-
16,143
51,293
70,043
51,293
70,043
51,293
70,043
-
4,081,456
3,000
38,900
54
-
10,200
-
**31 December 2023**|**Unrestricted**
**Restricted**
**Fund**
**Fund**
**£**
**£**
45,011
53,900
6,282
-
-
16,143
51,293
70,043
51,293
70,043
51,293
70,043
-
4,081,456
3,000
38,900
54
-
10,200
-
**31 December 2023**|**Unrestricted**
**Restricted**
**Fund**
**Fund**
**£**
**£**
44,109
-
3,802
-
-
80,225
47,911
80,225
47,911
80,225
47,911
80,225
-
4,035,637
-
-
-
-
10,200
-
**31 December 2022**|**Unrestricted**
**Restricted**
**Fund**
**Fund**
**£**
**£**
44,109
-
3,802
-
-
80,225
47,911
80,225
47,911
80,225
47,911
80,225
-
4,035,637
-
-
-
-
10,200
-
**31 December 2022**|
|---|---|---|---|---|
|||||80,225|
|||||80,225|
|||||80,225|
|||||4,035,637|
|||||-
-
-|
||13,254|38,900|10,200|-|
SIGNED BY THE TRUSTEES ON 30TH JULY 2024
## A. HOLLOWAY
A. JONES
7
## **THE BETTY PHILLIPS CHARITABLE TRUST**
## **NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31 DECEMBER 2023**
|1
**Gross interest and dividends on securities**
**Holding**
All securities
2
**Other interest received**
Dividend account (Unrestricted)
3
**Related party transactions**|**2023**
**Gross**
**£**
106,171
106,171
**2023**
**Gross**
**£**
2,358|**2022**
**Gross**
**£**
99,787|
|---|---|---|
|||99,787|
|||**2022**
**Gross**
**£**
1,025|
||||
A. Ollerenshaw, Trustee, is a solicitor with Tayntons solicitors in Gloucester. The charity paid fees of £10,200 (2022: £10,540) to Tayntons for legal and professional advice.
8