**THE HENRIETTA ST. ANDREW CHARITY CHARITY REGISTRATION NUMBER 1163010**
**FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020**
## **THE HENRIETTA ST. ANDREW CHARITY**
## **YEAR ENDED 31 OCTOBER 2020**
|**CONTENTS**
Charity Information
Trustees Report
Independent Examiners Report to the Trustees
Balance Sheet
Statement of Financial Activities
Notes to the Accounts|**PAGE**
1-2
3-4
5
6
7
8 - 17|
|---|---|
## **THE HENRIETTA ST. ANDREW CHARITY**
## **CHARITY INFORMATION**
## **YEAR ENDED 31 OCTOBER 2020**
## **Charity Information**
Trustees: Mr R H A MacDougald Mrs O A Talbot Principal Address: 77A Cheap Street Sherborne Dorset DT9 3BA Accountants: Lanham & Francis 77A Cheap Street Sherborne Dorset DT9 3BA Investment Managers: Bordier & Cie (UK) plc 23 King Street St James’s London SW1Y6QY
Page 1
## **THE HENRIETTA ST. ANDREW CHARITY**
## **CHARITY INFORMATION**
## **YEAR ENDED 31 OCTOBER 2020**
## **(continued)**
The testatrix of the will creating the charity was Miss Anna Manin. The trust was created following the death of Miss Manin in December 2013, and in accordance with the terms stated in her Will dated 14 November 2003. The terms stated in the Will form the governing documents of the Trust. The Trustees' Duties are outlined in Clause 5 of the Will, and the accompanying declaration dated 15 April 2015. The trust was registered on 5 August 2013.
Following the death of Miss Manin, her estate was administered by her executors, who were subsequently the same persons as the trustees of Pelham Court Music Foundation. The administration of the estate was completed in November 2016.
Under Clause 5 of the Will, the trustees were directed to hold the trust fund upon trust to pay or apply the income thereof and so much of the capital thereof as they shall from time to time think fit to or in furtherance of such object or purpose being wholly charitable according to the laws of England and Wales as they shall in their absolute discretion think fit.
The Trustees may in their discretion for the period of 21 years from the date of death of Miss Manin instead of applying the income of the Charity in any year accumulate all or any part of such income at compound interest by investing the same and the resulting income in any authorised investments and hold the same as to accretion to and as part of the capital of the Charity without prejudice to their right to apply the whole or any part of such accumulated income in any subsequent year as if the same were income of the Charity arising in the same year.
In October 2020 the Charity acquired the rights and obligations of an unperformed contract in respect of the land and property known as the Henrietta Barnett Field Study Centre at Donhead St. Andrew.
Completion of the purchase took place on 2 November 2020 at which point the charity acquired an interest in the land and property concerned. As exchange had taken place at the reporting date and the funds settled, the property is reported in the October 2020 accounts
In December 2020, a resolution was passed in order to change the name of the Charity to The Henrietta St. Andrew Charity.
Page 2
## **THE HENRIETTA ST. ANDREW CHARITY**
## **TRUSTEES’ REPORT**
## **FOR THE YEAR ENDED 31 OCTOBER 2020**
The Trustees present their report and the financial statements for the year ended 31 October 2020, which comply with current statutory requirements and the trust deed.
## **Objectives and Activities**
The Trustees were appointed by the will and subsequent deeds. The charity was established to provide financial contributions to help small charities to fund specific projects that support their growth and charitable aims. Grants are generally made for specific projects that would not be eligible for financial assistance elsewhere.
The title of the Charity was changed from Pelham Court Music Foundation to Henrietta St Andrew Charity by way of a deed dated 14 December 2020.
## **Governance and Management**
There have been no changes to the trustees during the year. There must be at least two trustees and they must meet at least once a year.
During the year the charity has made thirteen charitable donations amounting to £120,000. In the previous year, ten charitable donations were made, totalling £243.000.
The Charity’s Trustees have given regard to the Charity Commission’s public benefit guidance.
## **Investment Policy**
The portfolio of investments has continued to be reviewed on the advice of retained financial advisors. The changes are detailed in the notes to the financial statements, together with the respective costs of investments. The investments held have been acquired in accordance with the trust deed. At 31 October 2020 the market value of the investments held was £1,360,380. This compares with £1,949,210 at 31 October 2019. A significant proportion of the reduction arises due to the use of funds to acquire the property.
## **Reserves Policy**
The trustees believe that the level of reserves maintained are sufficient and necessary to generate the funds required to make the current level of grants expended. All of the reserves are unrestricted.
Page 3
## **THE HENRIETTA ST. ANDREW CHARITY**
## **TRUSTEES’ REPORT**
## **FOR THE YEAR ENDED 31 OCTOBER 2020**
## **(continued)**
## **Risk Assessment**
The trustees continue to assess the major risks to which the charity is exposed. Historically, the principal risk has concerned the investment portfolio. Management of the investments is entrusted to the brokers that administer the portfolio. The mandate given to the investment broker has been carefully considered in our assessment to reflect these matters.
With the property now owned by the Charity, the trustees are aware of the need to ensure that adequate funds are available to meet the running costs of the property, and to ensure that the property has sufficient insurance cover.
On Behalf of the Trustees:-
Mr R H MacDougald
Page 4
## **THE HENRIETTA ST. ANDREW CHARITY CHARITY No. 1163010**
## **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HENRIETTA**
## **ST. ANDREW CHARITY**
I report to the trustees on my examination of the accounts of the above charity (“the
Trust”) for the year ended 31 October 2020.
## **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 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 EXAMINER’S STATEMENT**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
- the accounting records were not kept in accordance with section 130 of the Charities Acts 2011; or
- the accounts did not accord with the accounting records; or
- the accounts did 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 other matters in connection with the examination to which attention should be drawn in the report in order to enable a proper understanding of the accounts to be reached.
25 August 2021
Lanham & Francis, Chartered Accountants 77A Cheap Street Sherborne
Dorset DT9 3BA
Page 5
## **THE HENRIETTA ST. ANDREW CHARITY**
## **BALANCE SHEET AS AT 31 OCTOBER 2020**
**----- Start of picture text -----**
Year to 31-10-20 Year to 31-10-19
Note £ £ £ £
Investments 11 1,300,380 1,949,210
Fixed Assets 3 360,137
Other assets
Cash at Bordier 167,230 132,373
Debtors 4,500 -
171,730 132,373
Less:
Current liabilities
Accruals (4,020) (3,600)
Net current assets 167,710 128,773
Total assets less current liabilities 1,828,227 2,077,983
(Unrestricted non-designated)
Represented by :
Capital Account 6 1,828,227 2,077,983
Income Account 7 - -
1,828,237 2,077,983
**----- End of picture text -----**
The financial statements on pages 6 to 17 were approved by the Trustees on 13 August 2021.
Mr R H MacDougald Mrs O A Talbot
Page 6
## **THE HENRIETTA ST. ANDREW CHARITY**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2020**
|**Incoming**
**resources**
Investment income
Other income
**Resources**
**expended**
Distributions
Investment
Management
Charges
Administration
costs
**Transfer between**
**funds**
**Net incoming/**
**outgoing funds**
**Gains/(losses) on**
**investments**
Realised
Unrealised
**Net Movement in**
**funds**
**Balance brought**
**forward**
**Balance carried**
**forward**|**Year to**
**31-10-20**
£
£
£
Capital
Income
Total
51,620
51,620
75
75
**51,695**
**51,695**
120,000
120,000
14,318
14,318
4,405
4,405
**(138.723)**
**(138,723)**
**(87,028)**
**87,028**
**(87,028)**
**0**
**(138,723)**
(90,559)
-
(90,559)
(72,169)
-
(72,169)
(249,756)
-
(249,756)
**2,077,983**
**-**
**2,077,983**
**1,828,227**
**-**
**1,828,227**|**Year to**
**31-10-19**
£
£
£
Capital
Income
Total
55,329
55,329
11
11|
|---|---|---|
|||**55,340**
**55,340**
243,000
243,000
12,564
12,564
8,955
8,955|
|||**-**
**(264,519)**
**(264,519)**
**(168,787)**
**168,787**|
|||**(168,787)**
**(40,392)**
**(209,179)**
25,002
-
25,002
119,279
-
119,279|
|||(24,506)
(40,392)
(64,898)
**2,102,489**
**40,392**
**2,142,881**
**2,077,983**
**-**
**2,077,983**|
There are no restricted funds held by the charity in either of the above two financial years. All amounts relate to continuing activities.
Page 7
**THE HENRIETTA ST. ANDREW CHARITY**
**NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 OCTOBER 2020**
## **1 ACCOUNTING POLICIES**
## **Basis of Accounting**
The accounts (financial statements) have been prepared in accordance with applicable Charity law and SORP (FRS102) the Reporting Standard applicable in the U.K. and Republic of Ireland.
The Charity constitutes a public benefit entity as defined by FRS 102.
## **Going Concern**
There are no material uncertainties related to events or conditions that cast significant doubt on the charity’s ability to continue as a going concern. The accounts have therefore been prepared on a going concern basis.
## **Land and Property**
Tangible fixed assets are state at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Property is not depreciated.
## **Investments**
The investments are stated at market value and the realised and unrealised gains and losses are shown each year in the Statement of Financial Activities.
## **Income**
Dividend income is accounted for as received with no provisions being made for accruals of income.
## **Expenditure**
Expenses of running the trust are allocated against income, so long as there are sufficient reserves available. If sufficient income reserves are not available, expenditure is allocated against capital reserves.
## **Liabilities**
Liabilities are recognised where it is more likely than not there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
Page 8
## **THE HENRIETTA ST. ANDREW CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 OCTOBER 2020**
## **1 ACCOUNTING POLICIES (continued)**
## **Basic Financial Instruments**
The Charity accounts for basic financial instruments on initial recognition. The accounts are prepared in Sterling and are rounded to the nearest pound.
## **2 GRANTS AWARDED**
|Church of England Benefice of St Bartholomew
City Music Foundation
Donhead St Andrew Community Benefit Fund
Early Opera Company
Kids In The Spotlight
National Trust
Royal Court Theatre
St David’s Cathederal
The Soldiers Charity
University of Exeter
Worshipful Company of Paviors|10,000
10,000|15,000
1,500
15,000
2,500
1,500
1,500
1,500
5,000
6,500
50,000
20,000
£120,000|
|---|---|---|
||||
## **3 TANGIBLE FIXED ASSETS**
|At 1 November 2019
Additions
Disposals
Revaluation
At 31 October 2020|Land and
Buildings
Fixtures and
Fittings
Total
-
-
-
360,137
-
360,137
-
-
-
-
-
-|
|---|---|
||360,137
360,137|
The net book value of land and buildings comprised:
31.10.2020 31.10.2019 - Freehold Land and Buildings 360,137
Page 9
## **THE HENRIETTA ST. ANDREW CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 OCTOBER 2020**
## **4 DEBTORS UNDER 1 YEAR**
|31.10.2020
Sundry Debtor
Deposit balance repayable re property
4,500
**5**
**CREDITORS FALLING DUE WITHIN 1 YEAR**
31.10.2020
Accrued Expenses
Accountancy
4,020
**6**
**CAPITAL ACCOUNT**|31.10.2020
Sundry Debtor
Deposit balance repayable re property
4,500
**5**
**CREDITORS FALLING DUE WITHIN 1 YEAR**
31.10.2020
Accrued Expenses
Accountancy
4,020
**6**
**CAPITAL ACCOUNT**|31.10.2020
Sundry Debtor
Deposit balance repayable re property
4,500
**5**
**CREDITORS FALLING DUE WITHIN 1 YEAR**
31.10.2020
Accrued Expenses
Accountancy
4,020
**6**
**CAPITAL ACCOUNT**|31.10.2020
Sundry Debtor
Deposit balance repayable re property
4,500
**5**
**CREDITORS FALLING DUE WITHIN 1 YEAR**
31.10.2020
Accrued Expenses
Accountancy
4,020
**6**
**CAPITAL ACCOUNT**|31.10.2019
**-**
31.10.2019
3,600|31.10.2019
**-**
31.10.2019
3,600|
|---|---|---|---|---|---|
|||**Year to**
**31-10-20**|||**Year to**
**31-10-19**|
|||**£**|||**£**|
|||||||
|Balance brought forward||2,077,983|||2,102,489|
|||||||
|Profit/ (Loss) on sale of stocks and shares||(90,559)|||119.279|
|Revaluation of stocks and shares||(72,169)|||25,002|
|||1,915,255|||2,246,770|
|||(87,028)|||(168,787)|
|Transfer of Funds – from Capital to Income||||||
|||||||
|**Balance carried forward at 31 October**||**1,828,227**|||**2,077,983**|
|||||||
|||||||
Page 10
**THE HENRIETTA ST. ANDREW CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 OCTOBER 2020**
## **7 INCOME ACCOUNT**
**----- Start of picture text -----**
Year to Year to
31-10-20 31-10-19
Note £ £
Balance brought forward 0 40,392
Dividends and interest 51,620 55,329
Other income 75 11
51,695 95,732
Less:
Investment management charges 14,318 12,564
Legal, taxation and administration charges - 4,575
Accountancy fees 3,685 3,380
Independent examination fees 720 1,000
Grants awarded 2 120,000 243,000
138,723 264,519
Transfer of Funds - from Capital to Income 87,028 168,787
Balance carried forward at 31 October - -
**----- End of picture text -----**
Page 11
**THE HENRIETTA ST. ANDREW CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 OCTOBER 2020**
|**8**
**INVESTMENT INCOME**
Dividends on investments held in the UK
**9**
**MANAGEMENT AND ADMINISTRATION**
Trust management fees
Accountancy fees
Disbursements|**Year to**
**Year to**
**31-10-20** **31-10-19**
**£**
**£**
51,620 55,069
**Year to**
**Year to**
**31-10-20** **31-10-19**
**£ £**
-
4,575
4,405
4,380
-
-
4,405
8,955|**Year to**
**Year to**
**31-10-20** **31-10-19**
**£**
**£**
51,620 55,069
**Year to**
**Year to**
**31-10-20** **31-10-19**
**£ £**
-
4,575
4,405
4,380
-
-
4,405
8,955|
|---|---|---|
|||
8,955|
## **10 TRUSTEE EXPENSES**
No trustee expenses or remuneration have been incurred in the period.
Page 12