charlty r88i5tratlon number 1165375 EDNA 5MYLIE MEMORIAL FUND ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
EDNA SMYLIE MEMORIAL FUND LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mrs A Hibbert MrJODa5h Ms H Smith Mrs H Longman Charity number 116537S Principal address 104 South Street E35tbourne East Sussex BN214LW Independent ex4rniner Prico & Company 30-32 Gildredse Road Ea5tbourne East Su55ex BN214SH
EDNA SMYLIE MEMORIAL FUND CONTENTS Page Trustees, report ststement of tnJstee5' responsibilities Independent examine¢5 report Staternent of financial artivitie5 Balance sheet Notes to the flnancial stratement5 7-13
EDNA SMYLIE MEMORIAL FUND TRU5TEES' REPORT FOR THE YEAR ENDED 31 MAY 2024 The trustee5 present theSr annual report and lin3nci315tatemenis for the year ended 31 May 2024. The financial statements have been prepared irt accordance with the accDunting policies set out in note I to the financial 5tatement5 alld comply with the charlty's governing document, the Charliles Act 2011 and 'Acrountin8 and Reporting by Charities.. Slotenient of Recommended PracticÈ applicable to charltles preparlng their accounts in 3ccordancÈ wlth the Finan¢lal Reporting Standard applicable in the UK and ftepublic of Ireland (FRS 1021 (effective l January 20191. ObJeulves and actSvltle5 The ¢harity'5 objects are to help and aid disabled, Wounded, 51¢k or homeless animals, The trustees seek ?pplicatitsns frotn UK RÈ8lstered Charities in East and West sussex, Kent arnd outside of these aa5, aiming to assist with capital projects through Registered Charities and other charitable bodie5. The trustees contlnue to glve conSidetIOn to individuals requirlng a5slstance but prlmarlly through the use of local veterlnary 8roup5 wh¢ deal with the assessment of the individvals, means. In plannln8 the activities for the year tho trustees have paid due regard to guidance i55ued by the Charity Commisslon on Publlc Beneflt at thelr meeting5. Achlevements and performanc8 Financlal revlew Yhe trL]StÈes contlnued with their WQfk with different organi5ations that have applled for grant5 made charitable Erants in the year totalling £33,250, The following institutions recelved grants during the year.. Animals Asia £3.DOO, DaYbak5 Trust £4,250, Hornbeam Wood Rescue Sanctuary f 5,000, Nowzad Charitw £10.4N)O, Teckels Animal Sanctuaries £5,000, The CEt Welfère Group Limited £5.000 and Tynernouth Seal Hospital £1,000. The trustee5 Follow up those in receipt of grants regarding thè completeness of the work for which the award was granted. It is the pollcy of the charsty that Un$tried funds whlch have not been designated for a Specific use should be maintained at a level equivalent to bEtween three and six months, expenditure. The trustees consider that reserves at thi5 level will Ènsurè that, In the event of a Significant drop In funding, they ivlll be able to continue thé charity's current ictivities bvhile consideratlon Is given to way5 in whlch additional fund5 may be raiSEd rhi5 level of serveS has been maintained throughout the year, It IS the poliq of the charity ro maintain the value of its reseTve5 in real temis and to MMIse income from th@m without taking any undue risk. The perlormanie of the fund this year ha5 been satlsfact¢ry. The trustees have ?55e5sed the mijor rlsks to whSch the charity15 exposed, and are satisfled that gffitems are In place lo mitigate exFJosure to the Tnajor risks, Plans for future periods The tru5t@es intend to continue managing the Investments with a view to generating suffficient income to enable the charity to continue Ils grant givln8 attivitle5.
EDNA SMYLIE MEMORIAL FUND TRU5TEES' REPORT ICONTINUEDI FOR THE YEAR ENDEL) 31 MAY 2024 5tru¢ture, governance and manogement The charity was established by a charitablo trust deed Dn 14 May 1996 and regSstered with the Charity Commi55iork Dn l February 2016 vnder registratiL)n number 1165375. Tho trustees who Served during the year ard up to the date of signèture of the financial statements were.. Mrs A Hibbert MrJDDa5h M5 H 5rnith Mrs H Longman New trustees are appointed at the discretion of the ¢StINg tru5tee5. The charity Is managed by the tru5tee5 who met on fllge occ35lon5 during the ye?r to conslder the key operational area5 of grant Making and investments. Ms H Srrith is a partner of Hart Reade, the charity's solleitors. The trustees, report was approved by the Board of Trustees. Ms H Smith Trvstee 21 March 2025
EDNA SMYLIE MEMORIAL FUND STATEMENT OF TRusfEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MAY 2024 The trustees are re5pon5ible for preparing the Trustees, ReFlOrt and tlie financtal statements in accordance with applicable 13w and Unitod Klngdorn Accounting Sl3nd)rds (United Kihgdom Generally Accepted Accounting Practlcel. The law applicable to charitles In England and Wale5 require5 the trustoes to prepare fir¢ancial statements for each financial year which give a true and fair view of the state of affèir5 of the charlty and of the incoming rÈ50urces and applicatlon of re50ur¢es of the charity for that year. In preparing these flnancial 5tatErrents, the tTUStees are required to.. select suitable accountin8 pollclos and then apply them consistèntly,. observe the meth¢ds ?nd printipl@s in the Charltles SORP,. make judgement5 and egtimates that are reasonable and prudent: State whether applicable accountin8 standards have been followed, subject to any matorial departures disclosed and explained in the fiTrancièl statement5,' and prepare the financlal statements on the going contrrn basss unless It15 Inappropriate to presume that the charlty will continue in operation. The trustees are re5Pgn5ible for keeping sufficient accountiTr8 record5 that disc105e with reasonable accuracy at arby time the flnaTrcial position of the charity and onable them to ensure that the financial 5tatem¢nts comply with the Chorities Act 2011. the Charity (Account5 and Reportsl ReEulati0Tr5 2008 ènd thè provision5 of the trust deed. They are a150 sponSible for safeguardlng the assets of the charity and hence for taking reasonable steps for Ihe preventlon and detection o* fraud ènd other Irregularities.
EDNA SMYLIE MEMORIAL FUND INDEPENDEMf EXAMINER'5 REPORT TO THETRUSTEES OF EDNA SMYLIE MEMORIAL FUND I report to ihe trustees on my examination of the financial staternents of Edna Smylie Memorial Fund (the charity) for the year ended 31 May 2024. Respon51bilitles and basis of report As the rru5tees ?f the charity you are responsible for the preparation of the financial statemÈnts in accordance vrfth the requlr2ments of the charitles Act 201L Ithe 2011 Actl, I report in respect of my eyamin£tion of the charity's financi31 statements carrled out under 5edlon 145 of the 2011 Act, In carrying tsut my examination I have followed all thè applicable Directions given by the Charity Commission urbder sÈrtlon 14515llbl of the 2011 Att. IndependeJ)t examlnef5 Statement Your attentlon is drown to the fact that the tharity ha5 prepared financial statements in accordance wlth At£ounting and Reporting by Charities preparing their accounts ill aCCOTdance with th@ Finar)cial Reportlng Standard applic3ble in the UK and Republic of Ireland IFRS 1021 In preference to the Accounting Reporting by Ch3 rities.. Statement of Re¢ornMendeol Pr4ctice issued on l April 2005 which 15 referred to In the extant regulatlons bltt has now boen wlthdrawn. l understand that thi5 has been done in order for financlal statements to provide a true and f8ir view In accordance with Generally Accepted Accountimg Practice effective for reportlng perlods begtnnlng on or after l January 2015. I have completed my examlnatiDn. I conflrm that no matters have come to my attention in connection with the examlnatlon givlng me cause to believe that In any material respect.. accounting records were not kept In respect of the charity a5 required by sectlon 130 olthe 2011 Act- or the financial statemen¢5 do not accord with those records,, or the financial 5tatement5 do not cornply with the 3pplicable requirements COnrning the form 2nd content of accounts set out in the Charitie5 (Attounts and Reports) Regulation5 2008 other than anv requirement th* the aciounts give a true and falr vlew whlch 15 not a matter consided as part of Jn indèp8ndent examination. I h2v@ no covcerns and have come across no other matters in connection wlth the ex8min3tion to which attention should be drawn In this report In order to enable a proper und@rstanding Df the fSnanclal statements to be re3ched. Nathan Coker FCCA Prltè & Companv 30.32 Glldredge Road E35tbouTne East Sussex BN21 4SH Dated.. 21 March 2025
EDNA SMYLIE MEMORIAL FUND STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MAY 2024 Unrestrlded funds 2Q24 Total 2023 Notes In Investments 41,722 38,671 Ex enditure on.. Charitable activities 58,924 82,909 Net 8ains1110ssesl on investments 188,423 139,916} Plet movement In funds 171,221 184,1541 Fund balances at l June 2023 1,398,985 1,483,139 Fund b3lBn¢es at 31 May 1024 1.570,206 1,398,985 Thp Statement of flnanc121 actlvltles Include5 all gain5 ond105ses recogn15ed in the year. The statement of financial activltSes In¢lucles all gains 3nd1055es recosnised In the year, All Incorne and expendilure derlve from continuing activltles.
EDNA SMYLIE MEMORIAL FUND BALANCE SHEET AS AT 31 MAY 2024 2024 2023 Notes Flxed a55ets Investments li 1,522,890 1.340,962 Currenl assets Cash at bank and Sn hand 67.194 71,445 Credltors: amounts f8lllng due wlthln one year 119.8781 119,4221 Net cuyreni %sets 47,316 58,023 Ttstsl a55ets less current liabilitie5 1,570.206 1,398,985 Net a55et5 excluding penslon 118bility 1,570,206 1,398,985 The fund5 01 the ¢harlty UhstrICted funds 1,570.206 1,398,985 1,570,206 1,398,985 ThÈ flnancial statement5 were approved by the twstees on 21 March 2025 Ms H Smlth Tru5tEe
EDNA SMYLIE MEMORIAL FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 Accountin¥ policies Charlty Inlormatlon Edna Smylie Memorial Fund was established by a charltable trust deed on 14 May L996 and registered with the Charity CDmmi55ion on l February 2016 under registratlon number 1165375. 1.1 AccountinE conventlon The linantial statements have been prepared in a¢¢ordance with the charity's Igoverning documentl, the Charltie5 Act 2011, FRS 102 "The Financlal Reportlng Standard appllcable In the UK and Republlc of Ireland. I"FRS 102.1 and the Charities SORP "Accounting and Reporting by Charitie5,' Statement of Recommended Pracllce applic&ble to chèrltles preparing their accounts In accordallce wlth the Financial Reporting Standérd applicable in the UK and Republic of Ireland IFR5 1021 (Éffèctive I January 20191. The charl¢y1s a Public Berneflt Enllty as deflned by FRS 102. The charity has tskon advantage of the provision5 in the SORP for charitle5 not to prepare 8 Statement of Cash Flows. The financial statements have departed from the Charitles IAccounts and Reports) RegulatiC>nS 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charitbe5 èpplying FRS 102 rather than thè version of the statement of Recommended Préctlce which is referred to in the Resulations but whlch ha5 Sincè been withdrawn. The flrtan¢lal staten)ents are prepared in sterling, which is the functlonal cuirency of the charity. Monetary amourrt5 Iri these financial statements are rounded to the nearest £. The financial staternents have been prepared urbder the hi*Drical cost convention. The princlpal accounting policies adopted are set out below, 1.2 Going concern At the lime of Ipprovin8 the flnantsal statements, the trustees have a reasonable exp@ctation that the charlty has adequate resources to continue in operatigrhal existence for the lore5eeable future. Thus the trustees continue to adopt the going coDcem basis of a¢¢ountlng in preparin8 the financial ststements. 1.3 Charitable funds Unrestritted funds are 2vailable for use at the d15cretion of the trustees In furtherance of Ihelr charitsble objectives, 1.4 Income Intome is recognised when the charity is leg311y erbtStled to it after any perform3nee canditions hzve been met. thè 2mountS Can be measured reliably, 3nd it 15 probable that income will be received.
EDNA SMYLIE MEMORIAL FUND NOTES TO THE FINANCIAL STATEMENTS (CONTINVEDI FOR THE YEAR ENDED 31 MAY 2024 A¢¢ountlng pollcles Icorbtinuedl Cash donations are recogni5ed on recÈiPt, Otler donation5 are recognised ontè the charity has been notified of the donatlon, Jnless perfjrmance conditsons require deferral of the amount. Income tax recoverable in relation to donations reeelved under Gift Aid or deeds of covenant is reco8ni5ed al the tIMè of the donation. Lègacles are recognised on receipt or otherwise if the ¢h)rlty has been notified of 2n impending distributlon, the amount is known, and receipt is expectors. Ir the amount Is not known, the le8aw is treated as a contlngent asset. 1.5 Expendlture Liabilities are recDgni5ed 8$ expendlture as soon a5 there is 3 legal or constructlve obligatlon iommltLing the charity to that expendlture, it is probable that settlement will be required arbd the amount of the obligation can be measure rellably. Govern3nce costs comprise all cost5 Involving the public accountability of the charity and Its compliance with re8ulation and good pra¢tlc¢. Grants payable are payments to thlrd parties in fvrtherance of the charitable actNlties of the charity. Expenditure on 8rant5 is recorded once the charlty ha5 made an un¢onditional commltment to pay the grant and thls Is comrnunlcated to the beneficiary, or the grant has been paid, whichever is earliest. 1.6 Flxed asset inveslrnents Flxed a55et investments are Initlally measured at Iransactlon price excludlnE transaction costs. and are 5uEisequentl¥ measured at foir value at eath reportin8 date, Changes in fair value 3re recognised in net Incomellexpenditurel for the year. Transacllofi costs are expensed a5 lucurred. 1.7 Cash and cash equlv?lenlS Cash and cash equlvalents Include cash in hathd, deposits held at call with bank5, other short-term liquid investments wilh tprigina I maturities of three months tsr le55, and bank overdrafts. Bank overdrafts are shown within borrowlngs in current liabilities. Basic financial assets Basic financial assets, which include debtor5 and cash and bank balances, are Initially measurÈd at transaction price includirbg transaction costs and are subsequently carried at amtsrtised cost using the effective Interest mÈthrJd unless the arrdnEement constitutes a financing transaction, where the trarnsactlon Is measured ai the preser)t value of the future recelpts dlscounted al a market rate of interest. Financial assets classified as receivable within one year are not amort15ed.
EDNA SMYLIE MEMORIAL FUND NOTE5 TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024 A¢counting policies Icontinuedl Basic financial liabilitie5, including crÈditors and bank loans are initially reco8nised at transa¢liors price unles5 the arrangement constitutes a financlng transaction, where the debt instrument Is measured at the present value of the future paymonts dlscounted at a market rate of irtterest. Financial liobiltti cla55ified as payJble wlthin one year 3r@ not amortSsed. Debt instrument5 are 5ub5equently carded at amort15ed cost, usln$ the effettive Interest rate method. Tracle creditors 8re obligations to pay for goods or services that havo been acquired in the ordinarv course of operations from suppliers. Amounts payable are classified as curreni liabilities if payrment is due within one year or less. If not. they are presented as non-current Ilabilities. Trade creditors are recognised initially at transaction prire and sutjsequently measured at amort15ed cost Using the effective Interest method. Derecognition C*f fin3nclal li2bllities Srianc131 Ilabllities are dereco8nised when the charit¢s contractual obligatiors expire or are discharEed or cantelled. 1.8 Empl¢Jyee beneflts The ¢osl of any unusod holSday entitlement is recognlsed In the period ITr which the employee's services 3re received. Termination benefits are recogni5ed imrnediately as an expense when the charity Ts demonstrably commltted to terminète the employment of an emplcpyee or to provide termlnatiC•ll benefits. 1.9 R15k fattors The Trustee5 have accesse5 the major rlsks to whlch the charity is exposed, and are 5at15fled that systems are in place to mitigate exposure to the tnzlor risks. Crlti¢o1 acwunting estimates and jud¥ement5 In the application of the charfty's accountlng poli£ie5, the trustees are reqylred to make judgements, estimates and assumptions about the carrying amount of a55ets and liabilities that are not readilv Bpparent Imm othèr sources. The estlmate5 and 4550Qlated assumptions are based on historlcal experience and other fartors that are considered to be relevant, Actual results may differ from these estimate5. The estlmates and underlyln8 a55UrnPtlon5 are reviewed on an ongoing basi5. Revisions to Jccounting estimate5 are recognised In the period Sn which the estimate Is revised where the revislon affects only that perlod, or In the period of the revlslon and future period5 where the revision affects both current and future perlods.
EDNA SMYLIE MEMORIAL FUND NOTES TO THE FINANCIAL STATElVtENTS (CONTINUEDI FOR THE YEAR ÉNDED 31 MAY 2024 Investments Unrestrlcted funds Total 2024 2023 Income from listed Investments 41,722 38,671 Expèndlture on charitable activilie5 Grants 20Z4 Grants 2023 Dlre¢t t05ts fjrant funding of actlvlties Isee note 51 33,250 57,405 Share of 5UPPOrt and governante ¢05ts (see note 61 Governance 25,674 25.504 58.924 82,909 Amalysis by fund Unrestricted fund5 58,924 82,909 io-
EDNA SMYLIE MEMORIAL FUND NOTE5 TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 MAY 2024 Grants payable Grants 2024 Total 2023 Grants to Instltutlons.. Animals Asia A50ciaiioin Defensa Animal Arc05 8rinsley Anlmal Rescue Eastbourne Rabbit & Guinea Pig Rescue Hamworthy Hedgehog Rescue HART Wildlife Rescue Raln Rescue Thè Cats Whlskers The Barn Owl Trust Thornberry Animal Sanctuary Warrin8ton Anlmal Welfare Daybreaks Trust Hornbeam Wood Rescue 58nctuar¥ Nowzad Charity Teckels Animal 53nctvarles The Cat Welfare Group Umited Tynemouth Seal H05Pltal 3,000 8,000 4,496 4,544 6,500 3.000 5.000 3,200 iO,t))O s,0 5,(M)O 2,665 4,250 5,000 10,000 5,DOQ 5,r)00 I,DOO 33,250 57,405 li
EDNA SMYLIE MEMORIAL FUND NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 MAY 2024 Support cost5 Governan£¢ costs 2024 2023 Basls of allocation Independent examination Legal and professional 1,680 23,994 1,68Q 23,994 1,680 Governance 23,824 Governance 25,674 25,674 25,504 Analysed between Charltable activities 25,674 25,674 25.504 Governance c05t5 include5 Bmounts payablè to the Independent examiners of £1,68012023- £1,6801 for Independent examinatioTh fees. Trustees None of the trustees lor any persofis ¢onnected wlth theml recelved any remuneratlon or benefit5 from the charity durin8 the yèar. No expenses were incurred or reimbursed la the trLEStees in the yetr, Govern?noe Gosts Ihclud&s the amount of £11,40012023- £11,400) payible to the charlty's solicitors, Hart Reade. Employeas There We xo employees during the year. Net gaIn(lo$se$l on investrmerbts Vnre5tricted Unrestrlcted funds funds 2024 2023 Revaluation of investments Gain/l10551 on sale of investments 182,731 5,692 159,1641 10,248 188,423 139,9161 12
EDNA SMYLIE MEMORIAL FUND NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MAY 2024 10 Taxatlon The charity 15 exernpl from taxation on its activities because all Its Income is applled for chzritable purposes. 11 Flx¢d asset Inve5tmen15 Listed investments Cost or valuatlon At I lune 2023 Additions Valuation changes Disp05als 1,340,962 57.299 131,124 IS,4951 At 31 May 2024 1,522,89LI CarryihÈ amcunt At 31 May 2024 1,522,890 At 31 May 2023 1,340,962 12 Credltors: amounts falllng due wlthln one year 2024 2023 Accruals and deferred income 19,878 19,422 Accruals and defÈrred income includes amounts due to the ¢harity'5 solicitDr5, Hart Reade, of £11.400 12Q)23- £11,400). 13 Related party transactlons Durlng the year. the Tru5¢ had trat)sactlon5 Wlth the charity's scllcltors, Hart Reade, of £11,40012023- £11,400), of which the trustèe Ms H Smith is a partner. There are no other dlsclosable related party transacllons. -13.