REGISTERED CHARITY NUMBER: 1160399 

## Report of the Trustees and 

Unaudited Financial Statements for the Year Ended 31 March 2021 

for 

## Grayling Charitable Trust 

Wills Bingley Limited Chartered Accountants St Denys House 22 East Hill St. Austell Cornwail PL25 4TR 



Grayling Charitable Trust 

## Contents of the Financial Statements for the Year Ended 31 March 2021 

|||Page||
|---|---|---|---|
|Report of the Trustees|Ae|tOL2||
|Independent Examiner's Report||3||
|Statement of Financial Activities||4||
|Balance Sheet||S||
|Cash Flow Statement||6||
|Notes to the Cash Flow Statement||£||
|Notes to the Financial Statements|8|to|14|
|DetailedStatementofFinancialActivities||15||





Grayling Charitable Trust 

## Report of the Trustees for the Year Ended 31 March 2021 

The trustees present their report with the financial statements of the charity for the year ended 31 March 2021. 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 objectives of the Charity are general charitable purposes to the benefit of other charities and voluntary bodies / general public. 

## The Trustees have no specific donation making criteria. 

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. 

## Achievements and Performance 

During the period the charity has supported various charitable organisations, and the trustees continue to look for suitable projects to support. 

## Financial Review 

The Trustees consider that as a minimum unrestricted funds should be sufficient to cover any long term commitments made (to the extent not specifically covered by restricted funds) plus approximately six months of general charitable expenditure. 

Structure, governance and management Governing document The Grayling Charitable Trust is constituted as a CIO - Foundation, Registered 09 Feb 2015 and is a registered charity (number 1160399). 

The Trustees who have served during ihe period are set out below. The declaration of trust states that the number of trustees shall not be more than twelve. The power of appointment of new trustees is vested with the settlor or by resolution of the meeting of trustees. The Trustees meet periodically to assess grant applications and donations are made on a regular basis. 

The Charity intends to make grants to organisations and individuals in line with its charitable objectives. 

## Reference and administrative details 

Registered Charity number 1160399 

## Principal address 

122, Wigmore Street London W1U 3RX 

## Trustees 

NH Byrom Mrs N J Byrom Mrs E Bowman JCC Byrom 

Page 1 



Grayling Charitable Trust 

## Report of the Trustees for the Year Ended 31 March 2021 

## Reference and administrative details 

Independent Examiner Wills Bingley Limited Chartered Accountants 

St Denys House 22 East Hill 

St. Austell Cornwall PL25 4TR 

Approved by order of the board of trustees on 28 May 2021 and signed on its behalf by: 

Tekwee Net JCC Byrom - Trustee 

Page 2 



## independent Examiners Report to the Trustees of Grayling Charitabie Trust 

## independent examiner's report to the trustees of Grayling Charitable Trust 

| repori to the charity trustees on my examination of the accounts of Grayling Charitable Trust (the Trust) for the year ended 31 March 2021. 

## 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 Act and in carrying out my examination | have followed ali applicable Directions given by the Charity Commission under section 145(5){b) of the Act. : 

## independent examiner's statement 

| have completed my examination. | 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: 

ie 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 sei 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 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. 

AS * 

P A Smith FCCA Wills Bingley Limited Chartered Accountants St Denys House 22 East Hill St. Austell Cornwall PL25 4TR 

28 May 2021 

Page 3 



Grayling Charitable Trust 

## Siatement of Financial Activities for the Year Ended 31 March 2021 

|||31/3/21|31/3/20|
|---|---|---|---|
|||Unrestricted|Total|
|||fund|funds|
||Notes|£|£|
|Income and endowments from||||
|Donations and legacies|3|139,158|554,350|
|Investment income|4|23,466|20,194|
|Total||162,624|574,544|
|Expenditure on||||
|Charitable activities|5|||
|Grants Payable||13,186|36,955|
|Other||9,986|4,536|
|Total||23Af2|41,491|
|NET INCOME||139,452|533,053|
|Reconciliation of funds||||
|Total funds brought forward||1,184,493|651,440|
|Totalfundscarriedforward||1,323,945|1,184,493|



The notes form part of these financial statements 

Page 4 



Grayling Charitasie Trust 

Baiance Sheet 31 March 2021 

|||31/3/21|31/3/20|
|---|---|---|---|
|||Unrestricted|Total|
|||fund|funds|
||Notes|£|3|
|Fixed assets||||
|Investments||||
|Investments|10|1|1|
|Investment property|11|510,500|510,500|
|||510,501|510,501|
|Current assets||||
|Debtors|12|-|1,647|
|Cash at bank||814,484|675,446|
|||814,484|677,093|
|Creditors||||
|Amounts falling due within one year|13|(1,040)|(3,101)|
|Net current assets||813,444|673,992|
|Total assets less current liabilities||1,323,945|1,184,493|
|NETASSETS||1,323,945|1,184,493|
|Funds|14|||
|Unrestricted funds||1,323,945|1,184,493|
|Totalfunds||1,323,945|1,184,493|



The financial statements were approved by the Board of Trustees and authorised for issue on 28 May 2021 and were signed on its behalf by: 

N H Byrom - Trustee 

The notes form part of these financial statements 

Page 5 



Grayling Charitable Trust 

Cash Flow Statement for the Year Ended 31 March 2021 


**----- Start of picture text -----**<br>
|||||||||
|---|---|---|---|---|---|---|---|
|31/3/24|31/3/20|
|Notes|rs|£|
|Cash|flows|from|operating|activities|
|Cash|generated|from|operations|4|139,038|995,133|
|Net|cash|provided|by|operating|activities|139,038|939,133|
|Change|in|cash|and|cash|equivalents|
|in|the|reporting|period|139,038|535,133|
|Cash|and|cash|equivalents|at|the|
|beginning|of|the|reporting|period|675,446|140,313|
|Cash|and|cash|equivalents|at|the|end|
|of the|reporting|period|814,484|675,446|

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


The notes form part of these financial statements 

Page 6 



Grayling Charitable Trust 

1. 

2. Analysis of changes in net funds 

## Notes to the Cash Flow Statement for the Year Ended 31 March 2021 

Reconciliation of net income to net cash flow from operating activities 

||31/3/21|31/3/20|
|---|---|---|
||£|=|
|Net income forthe reporting period (as per the Statement of|||
|Financial Activities)<br>Adjustments for:|139,452|533,053|
|Decrease in debtors<br>(Decrease)/increase in creditors|1,647<br>(2,061)|-<br>2,080|
|Netcashprovidedbyoperations|139,038|935,133|



||At 1/4/20|Cash flow|At 31/3/21|
|---|---|---|---|
||£|£|£|
|Net cash||||
|Cash at bank|675,446|139,038|814,484|
||675,446|139,038|814,484|
|Total|675,446|139,038|814,484|



The notes form part of these financia! statements 

Page 7 



Grayling Charitable Trust 

A: Accounting policies 

## Notes to the Financial Statements 

## for the Year Ended 31 March 2021 

## 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, with the exception of investments which are included at market value. 

## 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 will 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 date are noted as a commitment but not accrued as expenditure. 

## Investment property 

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities. 

## Taxation 

The charity is exempt from tax on its charitable activities. 

## Fund accounting 

Unrestricted funds can be used in accordance with the charitable objectives 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. 

Further explanation of the nature and purpose of each fund is included in the notes to the statements. 

financial 


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Grayling Charitabie Trust 

2. 

3: 

4. 

5. 

6. 

Notes to the Financiai Statements - continued for the Year Ended 31 March 2021 

## Critical accounting judgements and key sources of estimation uncertainty 

There are no estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities. 

## Donations and legacies 

|Donations and legacies|||
|---|---|---|
||31/3/21|31/3/20|
||£|2|
|Donations|-|554,350|
|Gift aid|139,158|-|
||139,158|554,350|
|Investment income|||
||31/3/21|31/3/20|
||£|£|
|Rents received<br>Premium received from Tenant|16,466<br>7,000|20,194<br>-|
||23,466|20,194|
|Charitable activities costs|||
|||Grant|
|||funding of|
|||activities|
|||(see note|
|||6)|
|||£|
|Grants Payable||13,186|
|Grants payable|||
||31/3/21|31/3/20|
|Grants Payable|£<br>13,186|£<br>36,955|



Page 9 

continued... 



Grayling Charitable Trust 

6. 

T. 

3. 

## Notes to the Financial Statements - continued for the Year Ended 31 March 202% 

## Grants payable - continued 

|Royal Albert Hall|5,000|
|---|---|
|Pembrook College Mission|2,500|
|St Kenelm's Church, Enstone|2,500|
|Just Giving|1,285|
|Virgin Money|1,031|
|Help the Heroes|250|
|Landaid|250|
|Mencap|165|
|D McFarlane|105|
|Sunshine Rays|100|
||13,186|



## Support costs 

||||||Governance||
|---|---|---|---|---|---|---|
||||Finance|Other|costs|Totals|
||||£|£|£|£|
|Other|resources|expended|632|8,165|1,189|9,986|



## Trustees’ remuneration and benefits 

There were no trustees’ remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020. 

## Trustees’ expenses 

There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020. 

Page 10 

continued... 



Grayling Charitable Trust 

## Notes to the Financial Statements - continued for the Year Ended 31 March 2021 

## g. Comparatives for the statement of financial activities 

|g.|Comparatives for the statement of financialfinancial activities||
|---|---|---|
|||Unrestricted|
|||fund|
|||£|
||Income and endowments from||
||Donations and legacies|554,350|
||Investment income|20,194|
||Total|574,544|
||Expenditure on||
||Charitabie activities||
||Grants Payable|36,955|
||Other|4,536|
||Total|41,491|
||NET INCOME|5330538|
||Reconciliation of funds||
||Total funds broughtforward|651,440|
||Total funds carried forward|1,184,493|
|10.|Fixed asset investments||
|||Unlisted|
|||investments|
|||£|
||Market value||
||At 1 April 2020 and 31 March 2021|4|
||Net book value||
||At 31 March 2021|4|
||At31March2020|{|



There were no investment assets outside the UK. 

The investment comprises a single £1 Ordinary Share in 65 Kellett Road (Freehold) Ltd, a property management company registered in England and Wales. This represents a 33.3% interest. 

Page 11 

continued... 



Grayling Charitable Trust 

12. 

13: 

14. 

## Notes to the Financial Statements - continued for the Year Ended 31 March 2021 

## 11. Investment property 

£ Fair value At 1 April 2020 and 31 March 2021 510,500 Net book value At 31 March 2021 510,500 At 31 March 2020 510,500 

The leasehold interest comprises a long lease over Flat B at 65 Kellett Road, London SW2 1EA. 

## Debtors: amounts falling due within one year 


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||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|31/3/21|31/3/20|
|£|£|
|Other|debtors|-|1,647|
|Creditors:|amounts|falling|due|within|one|year|
|31/3/21|31/3/20|
|£|£|
|Other|creditors|1,040|3,101|
|Movement|in|funds|
|Net|
|movement|At|
|At|1/4/20|in|funds|31/3/21|
|£|£|£|
|Unrestricted|funds|
|General|fund|1,184,493|139,452|1,323,945|
|TOTAL|FUNDS|1,184,493|139,452|1,323,945|
|Net|movement|in|funds,|included|in|the|above|are|as|follows:|
|incoming|Resources|Movement|
|resources|expended|in|funds|
|Unrestricted|funds|£|Es|£|
|General|fund|162,624|(23,172)|139,452|
|TOTAL FUNDS|162,624|(23,172)|139,452|

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


Page 12 

continued... 



Grayling Charitable Trust 

14. Movement in funds - continued 

## Notes to the Financial Statements - continued 

for the Year Ended 34 March 2021 

## Comparatives for movement in funds 


**----- Start of picture text -----**<br>
||||||
|---|---|---|---|---|
|Net|
|movement|At|
|At|1/4/19|in|funds|31/3/20|
|£|£|£|
|Unrestricted|funds|
|Generali|fund|651,440|533,053|1,184,493|
|TOTAL|FUNDS|651,440|933,053|1,184,493|

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Comparative net movement in funds, included in the above are as follows: 


**----- Start of picture text -----**<br>
||||||
|---|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|e|£|
|Unrestricted|funds|
|General|fund|574,544|(41,491)|533,053|
|TOTAL|FUNDS|574,544|(41,491)|533,053|

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A current year 12 months and prior year 12 months combined position is as follows: 


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||||||
|---|---|---|---|---|
|Net|
|movement|At|
|At|1/4/19|in|funds|31/3/21|
|Unrestricted|funds|£|E|£|
|General|fund|651,440|672,505|1,323,945|
|TOTAL FUNDS|651,440|672,505|1,323,945|

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


Page 13 

continued... 



Grayling Charitable Trust 

15. 

## Notes to the Financiai Statements - continued for the Year Ended 31 March 2021 

## 14. Movement in funds - continued 

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: 

||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|Unrestricted funds||||
|General fund|737,168|(64,663)|672,505|
|TOTALFUNDS|737,168|(64,663)|672,505|



## Related party disclosures 

There were no related party transactions for the year ended 31 March 2021, other than as referred to within the accounis. 

Page 14 



Grayling Charitable Trust 

||Detailed Statement of Financial Activities|||
|---|---|---|---|
||for the Year Ended 31 March 2021|||
|||31/3/21|31/3/20|
|||£|£|
|Income and endowments||||
|Donations and legacies||||
|Donations<br>Gift aid||-<br>139,158|554,350<br>-|
|||139,158|554,350|
|investment income||||
|Rents received<br>Premium received from Tenant||16,466<br>7,000|20,194<br>-|
|||23,466|20,194|
|Total incoming resources||162,624|574,544|
|Expenditure||||
|Charitable activities||||
|Grants to institutions||13,186|36,955|
|Support costs||||
|Finance||||
|Bank charges||632|644|
|Other||||
|Property Costs||8,165|1,507|
|Governance costs||||
|Accountancy and legal fees||1,189|2,385|
|Total resources expended||23,1f2|41,491|
|Netincome||139,452|533,053|



This page does not form part of the statutory financial statements 

Page 15