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## AUSTINS 

## CHARITY COMMISSIONERS 


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THE WANDS CHARITABLE TRUST<br>.<br>**----- End of picture text -----**<br>


ACCOUNTS 

5 APRIL 2021 

Pine House, Chandlers Way, Southend on Sea, SS2 5SE 



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## THE WANDS CHARITABLE TRUST 

|CONTENTS|Page|
|---|---|
|Trustees’ Report|1-5|
|Independent Examiner's Report|6|
|StatementofFinancialActivities|7|
|BalanceSheet<br>NotestotheAccounts|8<br>9-12|



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THE WANDS CHARITABLE TRUST 1. - TRUSTEES' REPORT : The Trustees present their report and accounts for the year ended 5 April 2021. The accounts have been prepared in accordance with the accounting policies set out on pages 8 : , and 9 and comply with the Charity's Trust Deed, the Charities Act 2011 and the Statement L of Recommended Practice (FRS102) (SORP). iu STATEMENT OF TRUSTEES' RESPONSIBILITIES IN RELATION TO THE / ACCOUNTS ? Laws applicable to charities in England and Wales requires the Trustees to prepare accounts i for each financial year which give a true and fair view of the Charity's financial activities o during the year and of its financial position at the end of the year. In preparing those . LE accounts to give a true and fair view, the Trustees are required to follow best practice and - 

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- select suitable accounting policies and then apply them consistently. 

- make judgements and estimates which are reasonable and prudent. 

- state whether applicable accounting standards and the relevant Charities SORP have been followed, subject to any departures disclosed and explained in the accounts, and 

- - prepare the accounts on a going concern basis unless it is inappropriate to presume that the Charity will continue in operation. 

The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the Charity at any time and enable them to ensure that the accounts comply with the Charities Act 2011 (the Charities Act) and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the Charity and for their proper application under charity law and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the Charity. 

The Trustees acknowledge their responsibilities for ensuring that the Charity keeps accounting records which comply with the Charities Act and the provisions of the Trust Deed and preparing accounts which give a true and fair view of the state of affairs. of the Charity's financial activities during the year and of its financial position at the end of the year. 



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## THE WANDS CHARITABLE TRUST YEAR ENDED5 APRIL 2021 

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## REFERENCE AND ADMINISTRATION DETAILS Settlor Mrs Susan Jane Susan Jane Jane Orchard 

Settlor Mrs Susan Jane Susan Jane Jane Orchard Date of Settlement 26 December 2014 

Registered Charity Number 1159851 Principle Charity Office Port of Liverpool Building Address Pier Head, Liverpool L1 INW Trustees Susan Jane Orchard Peter Paul Thomson Karen Toth as director on behalfof Rathbone Trust Company Limited 

Investment Managers Rathbones Investment Management 8 Finsbury Circus London EC2M 7AZ, 

Accountants Austins Pine House Chandlers Way Southend on Sea Essex SS2 SSE 

Bankers Barclays Bank pic 48B - 50 Lord Street Liverpool, L2 1TD 

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## THE WANDS CHARITABLE TRUST 

## YEAR ENDED 5 APRIL 2021 

## STRUCTURE, GOVERNANCE AND MANAGEMENT 

The Trust ("the Charity") is an unincorporated trust, constituted under a Trust Deed dated 26 December 2014 and is a registered charity, number 1159851. The Charity was established by initial gifts from Susan Jane Orchard ("the Settlor"). The Charity does not actively fund raise and seeks to carry out the work desired by the Settlor through the careful stewardship of its existing resources and ad hoc contributions. 

There are to be no less than 2 Trustees and new Trustees shall be appointed. by Trustees’ Resolution passed at a special meeting called under Clause 15 of the original Settlement Deed. New Trustees shall be selected with regard to the skills, knowledge and experience needed for the effective administration of the Charity. If a vacancy occurs this shall be noted in the Trustees' Minutes at their next meeting. 

Procedures have not been adopted for the induction and training of Trustees but all ensure they continue to operate within current guidelines by discussing all issues arising as advised by the Charity Commission and Rathbone Trust Company Limited during their meetings. 

The Trustees must hold at least two ordinary meetings each year. 

The current Trustees were appointed by the Settlor for an indefinite period. The Trustees who served during the period are as set out on page 2. 

## OBJECTIVES AND ACTIVITIES OF THE CHARITY 

The objectives of the Charity are to advance such charitable purposes, according to the laws of England and Wales, as the Trustees see fit from time to time. Its activities have been the raising of funds and the payment of grants to specific charities in the Buckinghamshire region. Donations of £92,000 were received for this year (2020: £305,000) 

To fulfil these objectives the Trustees will make grants to such charitable objects from incoming resources that are mainly generated by its donations. Fund raising activities are not normally carried out. 

The Trustees hold Unrestricted Funds and so all funds are available to meet the Chartity's objectives. 

The Trustees have complied with $17(5) of Charities Act 2011 and have had due regard to the guidance on public benefit by the Charity Commission when exercising relevant powers or duties, 



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## THE WANDS CHARITABLE TRUST 

## YEAR ENDED 5 APRIL 2021 

## FINANCIAL REVIEW 

As set out on pages 7 and 8, the Charity's assets have increased in the year from £391,025 to 

The Trustees aim to distribute a large percentage of net income received in each financial year and therefore do not maintain a level of income reserves. 

As there are no specific restrictions of investment powers under the governing deed, the Trustees have full discretion over the investments. The Trustees have delegated Rathbone Investment Management to have full discretionary day to day control of the investments. In accordance with the Trustee Act 2000, as this duty has been delegated, the Trustees have established a formal Investment Policy Statement with their investment manager which sets an investment strategy of "balanced objectives with a prevailing medium level of risk" over an extended time horizon of ten years plus. 

Assets have been acquired and disposed of in accordance with the powers available to the Trustees, the value of which have increased from £336,290 to £411,818 in the year. 

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RESERVES The Trustees will continue to monitor the level of reserves after considering any long-term commitments, of which there are none at present. 

## RISK MANAGEMENT 

The major risks to which the Charity is exposed, as identified by the Trustees, have been and continue to be reviewed and systems and procedures established to mitigate those risks. Those systems and procedures are also monitored on a regular basis by the Trustees. 

The Trustees will continue to monitor any major risk factors such as UK political or financial instability which might impact on its investments but are satisfied that there are appropriate systems and processes in place to minimise any exposure. 

During the year ended 5th April 2021 incoming resources amounted to £100,294 (2020: £11,768), and no discretionary grants were made (2020: £305,000). The Statement of Financial Activities on page 7 includes net gains and losses arising on revaluations and disposals throughout the year. 

## PLANS FOR THE FUTURE 

The Trustees will regularly review the performance and position of the funds in order to meet with their annual objectives. 



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THE WANDS CHARITABLE TRUST 

YEAR ENDED 5 APRIL 2021 

## DECLARATION 

The Trustees declare that they have approved the Trustees Annual Report above. 

SIGNED BY THE BOARD OF CHARITY TRUSTEES 

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MRS SJORCHARD ~WU}.OsCLosd PP THOMSON TQ K TOTH as Director on behalf of \ . “A 7 O Ky RATHBONE TRUST COMPANY LIMITED 

6 October 2021 



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## THE WANDS CHARITABLE TRUST YEAR ENDED 5 APRIL 2021 

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE WANDS CHARITABLE TRUST 

I report on the accounts of the Charity for the year ended 5 April 2021 which are set out on pages 7 to 12. 

## Respective responsibilities of Trustees and Examiner 

The Charity's Trustees are responsible for the preparation of the accounts. The Charity's Trustees consider that an audit is not required for this period under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. 

It is my responsibility to examine the accounts under section 145 of the Charities Act to follow the procedures laid down by the Charity Commission under section 145(5)(b) of the Charities Act and to state whether particular matters have come to my attention 

## Basis of Independent Examiner's report 

My examination was carried out in accordance with the general directions. given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations . from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to - those matters set out in the statement below. 

## Independent Examiner's Statement 

In connection with my examination, no matter has come to my attention which gives me reasonable cause to believe that in any material respect the requiremehts to keep accounting records in accordance with section 130 of the Charities Act and to pilepare accounts which accord with the accounting records and comply with the accountirlg} requirements of the Charities Act have not been met or to which, in my opinion, attentiqp_should be drawn in order to enable a proper understanding of the accounts to be reached. ‘) 


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SJ AUSTIN<br>**----- End of picture text -----**<br>


Pine House Chandlers Way Southend-on-Sea Essex $82 5SE 



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|THE WANDS CHARITABLE TRUST|
|STATEMENT OF FINANCIAL ACTIVITIES|
|UNRESTRICTED FUNDS|
|2021|2020|
|DONATIONS AND LEGACIES|
|Donations from Settlor|92,000|-|
|INVESTMENT INCOME|
|-.|Dividends receivable|6,296|9,086|
|Interest receivable|1,998|2,682|
|8,294|11,768|
|,|100,294|11,768|
|RESOURCES EXPENDED|
|Cost of|generating funds:|
|Investment management fee|5,615|6,191|
|Charitable|activities|-|305,000|
|Governance|costs:|
|Independent examiner's|fees|650|600|
|Accountancy and taxation fees|1,534|1,460|
|Administration|fees|1,000|1,000|
|Irrecoverable tax|194|-|
|(8,993)|(314,251)|
|Realised|losses on sales of|investments|(1,644)|(227)|
|Unrealised gains on sales of investments|1,803|1,030|
|INCOMING RESOURCES|
|BEFORE OTHER GAINS AND LOSSES|91,460|(301,680)|
|Revaluation ofinvestments|89,076|(50,908)|
|NET MOVEMENT IN FUNDS|180,536|(325,588)|
|TOTAL FUNDS BROUGHT FORWARD|391,025|743,613|
|TOTAL FUNDS CARRIED FORWARD|£571,561|£391,025|

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|THEWANDSCHARITABLE TRUST|THEWANDSCHARITABLE TRUST|||||||g.||
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|BALANCESHEET||||||||||
|5 APRIL 2021||||||||||
|FIXEDASSETS|Notes||||2021|||2020||
|Quoted investments||3||411,818||||336,290||
|CURRENT ASSETS||||||||||
|Debtors||4|92,000|||194||||
|Cashatbank||5|71,795|||59,002||||
||||163,795|||59,196||||
|CURRENT LIABILITIES|||:|||||||
|Creditors fallingduewithinoneyear||6|4,052|||4,461||||
|NETCURRENTASSETS||||159,743||||54,735||
|TOTALNETASSETS||||£571,561||||£391,025||
|THEFUNDSOFTHECHARITY||||||||,||
|UNRESTRICTEDFUNDS||||571,561||||391,025||
|||||£571,561||||£391,025||
|The financial statements were approvedby<br>MRS$JORCHARD||by|the Trustees|on|)Ns ~|On(hore||||
|PPTHOMSON|||||‘|“2ae|ae|||
|KTOTH as Directoronbehalfof<br>)<br>RATHBONETRUSTCOMPANYLIMITED|||||)||Ce|,|}|
|6October 2021||||||||||





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## THE WANDS CHARITABLE TRUST 

## NOTES TO THE ACCOUNTS 

5 APRIL 2021 

## 1. ACCOUNTING POLICIES 

## Basis of preparation of accounts. 

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The accounts have been prepared in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland, the Statement of Recommended Practice (SORP), Accounting and Reporting by Charities preparing their accounts in accordance with FRS 102, the Charities Act 2011 and UK genérally accepted accounting practice as it applies from 1 January 2015. The charity is a Public Benefit Entity as defined by FRS. 

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. The accounts 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 the SORP for charities applying FRS 102 rather than the version of the SORP which is referred to in the Regulations, but which has since been withdrawn. 

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The accounts are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The Charity has taken advantage of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flow. 

## Critical accounting estimates and judgements 

In the application of the Charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. 

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The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 

## Funds structure 

All the Charity's funds are wholly unrestricted. The terms of the trust deed allow the income to be accumulated and the capital to be spent if the Trustees so determine. Unrestricted income funds comprise those funds which the Trustees are free to use for any purpose in furtherance of the charitable objects. 

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## THE WANDS CHARITABLE TRUST . NOTES TO THE ACCOUNTS (CONTINUED) 

5 APRIL 2021 

## Income resources 

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. 

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‘Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donations, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received ~~ under Gift Aid or Deeds of Covenant is recognised at the time of the donation. All dividend income is recorded net and includes tax deducted only when it is repayable to the Charity. 

## Resources expended 

Expenditure is recognised when paid or when there is a legal or constructive obligation for which it is more likely than not that a transfer of economic benefit will be required in settlement and the amount can be reliably measured as at the reporting date. A constructive obligation exists where the Charity has communicated the commitment to provide particular goods, services or funding to the recipient by the reporting date and there are no conditions attached to its payment falling due after the reporting date. 

Grants payable will be payments made to third parties in the furtherance of the charitable objectives of the Charity. Single or multi-year grants will be accounted for when the Trustees have communicated to the recipient that they may reasonably expect to receive a grant and the Trustees have agreed to pay the grant without condition. 

## Governance Costs 

Governance costs include costs related to advisory and accountancy fees. 

## Gains and losses 

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and opening market value or purchase date if later. Unrealised gains and losses are calculated as the difference between the market value at the year end and opening market value or purchase date if later. 



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## THE WANDS CHARITABLE TRUST o NOTES TO THE ACCOUNTS (CONTINUED) 

## 5 APRIL 2021 

## Commitments and contingent liabilities. 

In accordance with the SORP, a contingent liability is disclosed for those grants which do not represent liabilities where the possible obligation, which arises from past events, will only be confirmed by the occurrence of one or more uncertain future events not wholly with the Trustees' control. Provisions are recognised for those grants where there is uncertainty as to the timing or amount, and any uncertainty regarding the amount is more than one of determining a basis for reasonable estimation of the liability arising from that constructive obligation. 

## 2. RELATED PARTY TRANSACTIONS AND TRUSTEES’ REMUNERATION 

The Trustees received no emoluments or reimbursement of expenses. In the opinion of the Trustees the only related party transactions falling to be disclosed in these accounts are the fees of £6,615 (2020: £7,191) payable to Rathbone Brothers Ple for investment management and administration services, of which Peter Thomson and Karen Toth are employees and the Rathbone Trust Company Limited is a subsidiary. 

|3. QUOTEDINVESTMENTS|UK|Overseas|Total|
|---|---|---|---|
|Value at6th April2020<br>Additions<br>Disposals<br>Revaluation|156,580<br>-<br>(13,505)<br>56,361|179,710<br>9,221<br>(9,264)<br>32,715|336,290<br>9,221<br>(22,769)<br>89,076|
|ValueatSthApril2021|£199,436|£212,382|£411,818|
|Realised gains/(losses)|£(4,147)|£2,503|£(1,644)|
|Unrealised gains|£1,265|£538|£1,803|
|4, DEBTORS||2021|2020|
|Gifts relatingto current year<br>Other debtors— tax reclaim||92,000<br>-|-<br>194|
|||£92,000|£194|



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## . THE WANDS CHARITABLE TRUST 12. | 

## NOTES TO THE ACCOUNTS (CONTINUED) 

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|2021|2020|
|5.|CASH AT BANK|
|Barclays Bank plc|£71,795|£59,002|

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6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 

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|2021|2020|
|Settlor|20|20|
|Accruals|4,032|4,441|
|£4,052|£4,461|

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## 7. POST BALANCE SHEET EVENTS 

The only post balance sheet event was that the Settlor gifted the Charity £408,000 in shares after the year end. 

## 8. COMMITMENTS 

There were no commitments at 5 April 2021. 

## 9. GOING CONCERN 

At the time of approving the accounts, 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 accounts.