DoGUSign Envelope ID." s033F21706492B.e80¥DC9l7EsDBI42 THE RUSSELL KIN TRUST Registered Charty Number 1164503 Financial Statements and Trustees Report foryear ended 5th April 2024 PENNINGTONS MANCHES COOPER Bottle Works, The Bars Guildford Surrey GU14LP Tel.. 01483 791800 Fax. 01483 424177 Our Ref 37024391APMILZD
DoGUSign Envelope ID." s033F21706492B.e80¥DC9l7EsDBI42 THE RUSSELL KIN TRUST (registered charty no.: 11645031 CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 5 April 2024 Item Page Charity Information Trustees, Report Examiner's Report Receipts and Payments Account statement of Assets and Liabilities Page 2
DoGUSign Envelope ID." s033F21706492B.e80¥DC9l7EsDBI42 THE RUSSELL KIN TRUST (registered charity no.: 1164503} LEGAL & ADMINISTRATIVE INFORMATION as at 5 April 2024 GOVERNING INSTRUMENT: The Trust was established by Mrs D M Russell by Trust Deed on 18 May2015. CHARITY REGISTRATION NO: 1164503 CURRENT TRUSTEES: Mr D G Russell Mrs L Dadswell Mr S Russell Mrs T l Russell PRINCIPAL ADDRESS FOR CORRESPONDENCE: Penningtons Manches Cooper LLP Bottle Works, The Bars Guildford Surrey GU1 4LP SOLICITORS & ACCOUNTANTS: Penningtons Manches Cooper LLP Bottle Works, The Bars Guildford Surrey GU1 4LP Page 3
DoGUSign Envelope ID." s033F21706492B.e80¥DC9l7EsDBI42 THE RUSSELL KIN TRUST (registered charity no.: 1164503} TRUSTEES. ANNUAL REPORT for the year ended 5 April 2024 Specific Investment Powers The Trustees powers include full discretionary powers to make grants. They also have full discretionary Flower to make investments. Appointment of New Trustees The current Trustees have power to appoint new Iruslees Objects of the Charity The Trustees shall hold the capital and income of the Trust Fund upon trust to apply the income, and all or such part or parts of the capital, at such lime or times and in such manner lo, or for the benefit of, such exclusively charitable objects and purposes in any part of the world as the Trustees may in their discretion think fil. The Trustees may in their discretion, for the period of 21 years from 18 May 2015, instead of applying the income of the Charity in any year, accumulate all or any part of such income by investing the same, and the resulting income, in any investments aulhorised by the Trust Deed or by law as an accretion lo 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 then current year. Future Plans of the Charity Future plans of the Charity are to continue its grant making acbvilies. Oryanisational structure and decision making process of the Charity The Trustees will make grants normally after discussion and agreement at annual meetings. Investment policy and the performance achieved against the policy It is intended that the real value of assets should be maintained and enhanced over the long term by investing in portfolios comprising equities, fixed income stocks, other slruclured products and cash. The Trustees have instructed Sarasin & Partners linveslmenl managers) to implement their investment policy. Review of the development. activities and achievements of the Charity during the year Al the end of the period to 5 April 2024 the Trust had cash balances of £17,49012023'. £29,207) and nel outgoing resources of £11,71712023". incoming £21,3211. 11 also held investments with a book value of £1,055,090 12024. £1,055,090 1 and a market value of £1,135,267 12023.. £1,064,020). In the year, grants tolalling £40,53612023". £30,727) have been made, in furtherance of the charity's objectives. Regard for publlc beneflt The Trustees have had due regard to the guidance published by the Charity Commission on public benefit and to that end have made grants to varied charitable organisations within the charity's charitable objects. Page 4
DoGUSign Envelope ID." s033F21706492B.e80¥DC9l7EsDBI42 THE RUSSELL KIN TRUST (registered charity no.: 1164503} TRUSTEES. ANNUAL REPORT for the year ended 5 April 2024 Grants Paid Helen Arkell Dyslexia Charity Scene and Heard Charity A pla lo Be Phyllis Tuckwell Memorial Hospice Ltd Disability Challengers Frensham Pond Sailabilty Let's Get Together 9,536 5,000 6,000 5,000 5,000 5,000 5,000 40,536 Reserves Policy The Trustees have no ongoing requirement to maintain reserves other than for ongoing administrative expenditure commitments. Investments will be maintained to ensure that the level of income is sufficient to cover any grants payable during future years. The Trustees are satisfied reserves are maintained at appropriate levels. Risk Management The Trust has no operational risks. Its risks are related lo investment strategy and it will guard against those risks by ensuring, with advice from ils investment managers, a reasonable diversification on inveslmenls. Commentary on Accounts The Trustees are satisfied with the performance of the Trust, the results for the year and the situats'on al the year-end. The Accounts comply with current statutory requirements and with the Trust Deed. Relationship with other charities There is no relationship with any other general grant making charitable organisalions. LwLt OdwL(L Signed.. Mrs L Dadswell, Trustee 27 March 2025 Date.. Page 5
DoGUSign Envelope ID." s033F21706492B.e80¥DC9l7EsDBI42 THE RUSSELL KIN TRUST (registered charity no. 1164503) Independent Examiners Report Year ended 5 April 2024 I report to the trustees on my examination of the financial statements of the Russell Kin Trust I'the charity'l for the year ended 5 April 2024. Responsibilities and basis of report As the trustees of the company you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011. I report in respect of my examination of the Trustee'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 14515llbl of the 2011 Act. Independent examlner's ststement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: ccounting records were not kept in respect of the charity as required by section 130 of the Act,. or the financial statements do not accord with those records,. or 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 understandinB of the accounts to be reached. Steve Foster, FCCA Shipleys LLP Chartered Accountants 5 Godalming Business Centre Godalming Surrey, GU7 IXW Date= 27 March 202 5 Page 6
DoGUSign Envelope ID." s033F21706492B.e80¥DC9l7EsDBI42 THE RUSSELL KIN TRUST Iregistered ¢harity no.= 11645031 RECEIPTS AND PAYMENTS ACCOUNT for the year ended S Aprll 2024 2024 2024 Unrestricted Endowment fund fund- 2024 2023 2023 Unrestricted Endowment fund fund- 2024 Totsl Total Receipts Investsnent income Unit trust dividends Bank Interest Expendable &ndoMment fund legacy 31.780 1.120 31,780 1,120 17.324 1,106 17.324 1,106 738.567 756,997 738.567 738.567 32.900 32,900 18.430 Asset and Investment sales Sale of donated legacy investments reIVed in year sa of other investments 261,376 23,318 284,694 261,376 23,318 284,694 Total receipts 32,900 32,900 18,430 1,023,261 1,041,691 Payments Grants paid Legal & professional fees Bank fees Portfolio management fees 40.536 3,851 10 220 44,617 40,536 3,851 10 220 44,617 30.727 8,348 30.727 8,348 401 39,476 401 39,476 Asset and Investment purchases Purchas8 of inv88tm8nts 980.895 980.895 980 895 980.895 Total payments 44.617 44,617 39.476 980,895 1,020.371 Net recelptsllpaymentsl for year 111.7171 121,0481 42,366 21,320 Transfers between funds 11,717 21,046 121,0461 Cash and bank balancès at 6 April 2023 7,887 21,320 29,207 7,887 7,887 Cash and bank balances at S Aprll 2024 7.887 9.603 17,490 7.887 21.320 29,207 Endowment fund is an expendable lunrestrictedl endowment Page 7
DoGUSign Envelope ID." s033F21706492B.e80¥DC9l7EsDBI42 THE RUSSELL KIN TRUST Ireglstered charlty no.: 1164503 STATEMENT OF ASSETS AND UABILITIES AS AT 5th April 2024 2024 2024 unstrICted Endowment fund fund" 2024 2023 2023 unstrICted Endowment fund fund" 2024 Total Total Cash Funds Cash and bank balances.. HSBC Sarasin & Partners 3.685 4.202 3.685 25.522 7,886 9,603 17.489 21,320 7,887 9,603 17,490 7,887 21,320 29,207 Investment assets Managed investments at Sarasin Ibook value) 1,055,090 1.055,090 1,055,090 1,055,090 Investments at matk8t value 1,135,267 1,135,267 1,064,020 1,064,020 Endowment fund is an exp8ndabl& lunrestrict8dl endowm8nt DdwdL Signed". Mrs L D8d5well, Tiustee 27 March 2025 Date.. Page 8