Registered Charity No. 1158964
THE BETTY PHILLIPS CHARITABLE TRUST
ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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 2024
| Trustees: | Andrew Holloway | |
|---|---|---|
| Andrew Jones | ||
| Helen Wayman | ||
| Michael Vines | (Retired 21 January 2025) | |
| 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 2024
The Trustees have pleasure in presenting their Annual Report for the period ended 31 December 2024
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 £116,224 (2023: £110,203). The Grants paid to various animal charities were £253,108 (2023: £128,563) which includes £146,748 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 £16,164 (2023: £15,258). The resulting deficit of £6,300 (2023 Surplus : £3.382) 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 £4,151,792 excluding the cash balances (2023: £3,824,456).
The property owned by the charity in 2023, had a market value of £257,000 at 31st December 2023 and was sold for this amount during 2024.
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:
Cetacaen Research & Rescue Unit received £15,000 for a new rescue boat.
The Animal House Rescue received £10,000 for escalating veterinary bills.
Woodgreen Pet Charity received £20,000 for improvements to a puppy and isolation garden.
Harper Asprey Wildlife Rescue received £10,000 to support ongoing veterinary costs.
Dogs On The Streets received £25,000 to improve kennelling.
In total 32 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 2024
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 £44,993. 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 8TH JULY 2025
-
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 2024, 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
8TH JULY 2025
4
THE BETTY PHILLIPS CHARITABLE TRUST
RECEIPTS AND PAYMENTS ACCOUNT (Unrestricted Fund) FOR THE YEAR ENDED 31 DECEMBER 2024
| Year ended | Year ended | ||
|---|---|---|---|
| 31 December | 31 December | ||
| Note | 2024 | 2023 | |
| £ | £ | ||
| Receipts | |||
| Investment income | |||
| Rents received | - | 1,674 | |
| Dividends received | 1 | 115,460 | 106,171 |
| Other interest received | 2 | 764 | 2,358 |
| Total receipts | 116,224 | 110,203 | |
| Charitable payments | |||
| Grants paid out | 106,360 | 91,563 | |
| Management and administration: | |||
| Professional fees | 10,379 | 10,200 | |
| Software subscription | 445 | 403 | |
| Independent examination fees | 1,500 | 1,447 | |
| Repairs and maintenance for property | 3,462 | 2,957 | |
| Commission paid to lettings agent | 378 | 251 | |
| Total payments | 122,524 | 106,821 | |
| Net (expenditure)/income for the period | (6,300) | 3,382 | |
| Cash and bank balances brought forward | 51,293 | 47,911 | |
| Cash and bank balances at 31 December 2024 | 44,993 | 51,293 |
5
THE BETTY PHILLIPS CHARITABLE TRUST
RECEIPTS AND PAYMENTS ACCOUNT (Restricted Fund) FOR THE YEAR ENDED 31 DECEMBER 2024
| Year ended | Year ended | |
|---|---|---|
| 31 December | 31 December | |
| 2024 | 2023 | |
| £ | £ | |
| Receipts | ||
| Sale of investments | ||
| Sale of property | 257,000 | - |
| Interest received | 328 | - |
| Shares and securities | 399,333 | 555,572 |
| Total Income | 656,661 | 555,572 |
| Payments | ||
| Grants paid out | 146,748 | 37,000 |
| Purchase of investments | 527,986 | 502,392 |
| Management and administration | ||
| Property sale fees | 5,025 | - |
| Brokers management fees | 27,740 | 26,362 |
| Total payments | 707,499 | 565,754 |
| Net (expenditure) for the period | (50,838) | (10,182) |
| Balance brought forward | 70,043 | 80,225 |
| Balance at 31 December 2024 | 19,205 | 70,043 |
6
THE BETTY PHILLIPS CHARITABLE TRUST STATEMENT OF ASSETS AND LIABILITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| Cash funds Lloyds Bank plc Evelyn Partners income account Evelyn Partners dealing account Total cash funds Net funds Investment assets Shares and securities at market value Property at market value Liabilities Grants payable Repairs Professional fees |
Unrestricted Restricted Fund Fund £ £ 27,609 - 17,384 - - 19,205 44,993 19,205 44,993 19,205 44,993 19,205 - 4,151,792 - - - 4,151,792 - - - - 10,200 31 December 2024 |
Unrestricted Restricted Fund Fund £ £ 27,609 - 17,384 - - 19,205 44,993 19,205 44,993 19,205 44,993 19,205 - 4,151,792 - - - 4,151,792 - - - - 10,200 31 December 2024 |
Unrestricted Restricted Fund Fund £ £ 45,011 53,900 6,282 - - 16,143 51,293 70,043 51,293 70,043 51,293 70,043 - 3,824,456 - 257,000 - 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 - 3,824,456 - 257,000 - 4,081,456 3,000 38,900 54 - 10,200 - 31 December 2023 |
|---|---|---|---|---|
| 70,043 | ||||
| 70,043 | ||||
| 70,043 | ||||
| 3,824,456 257,000 |
||||
| 4,081,456 | ||||
| 38,900 - - |
||||
| 10,200 | - | 13,254 | 38,900 |
SIGNED BY THE TRUSTEES ON 8TH JULY 2025
A. HOLLOWAY
- A. JONES
7
THE BETTY PHILLIPS CHARITABLE TRUST
NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31 DECEMBER 2024
| 1 Gross interest and dividends on securities Holding All securities 2 Other interest received Dividend account (Unrestricted) |
2024 Gross £ 115,460 115,460 2024 Gross £ 764 |
2023 Gross £ 106,171 |
|---|---|---|
| 106,171 | ||
| 2023 Gross £ 2,358 |
3 Related party transactions
A. Ollerenshaw, Trustee, is a solicitor with Tayntons solicitors in Gloucester. The charity paid fees of £10,379 (2023: £10,200) to Tayntons for legal and professional advice.
Professional fees and disbursements of £1,941 were paid, in addition to the above fees, to Tayntons in the year for the sale of 63 Bloomfield Road.
8