CHARITY NUMBER: 1166068
THE DAVID VAISEY TRUST REPORT AND FINANCIAL STATEMENTS
31 OCTOBER 2020
THE DAVID VAISEY TRUST TRUSTEES’ REPORT YEAR ENDED 31 OCTOBER 2020
The Trustees present their report and the financial statements for the year to 31 October 2020.
PRINCIPAL ACTIVITY
The principal object of the Charity is the advancement of education by encouraging and developing reading and literacy among the general public in England and Wales, particularly in Gloucestershire, in conjunction with public libraries. A major aspect of that is to encourage the use of volunteers to help in, and in some cases run, the libraries.
TRUSTEES
The Trustees, all of whom served throughout the year, are as follows:
Jonathan Taylor Sir Michael McWilliam Martin Lee-Browne Lady Katherine MacDuff Black Robertson Sarah Smyth
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements can be prepared for each financial year that comply with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
ACTIVITIES IN THE PERIOD
In the early stages of preparation for the 2020 award of the David Vaisey prize the Covid-19 pandemic swept the country. As a result of the ensuing lockdown libraries were unable to operate and it was not possible to judge any initiatives effectively. The decision was therefore made to suspend the award of the main library prize for the year.
However, the trustees did still invite applications for the Young Person’s Awards to recognise the work of young volunteers in the county’s libraries. As a result, three individuals were awarded with £100 prizes and given the opportunity to introduce a speaker at the online Cheltenham Literature Festival.
The Trustees would like to thank all those who have supported the Trust during the year and have enabled it to secure funding for 2021 and future years of the David Vaisey Prize.
By order of the Board of Trustees
Black Robertson Trustee
25 August 2021
THE DAVID VAISEY TRUST STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDING 31 OCTOBER 2020
| Notes INCOMING RESOURCES Income from donations 2 Bank interest RESOURCES EXPENDED Prizes awarded Expenses of awarding prizes Trust events and publicity Administrative expenses and bank charges NET INCOME/(EXPENDITURE) FOR THE YEAR |
2020 £ 4,723 - 4,723 300 2,473 1,416 120 4,309 414 |
2019 £ 14,000 - |
|---|---|---|
| 14,000 9,100 4,279 700 120 |
||
| 14,199 | ||
| (199) |
The related notes 1 to 3 form an integral part of these financial statements
THE DAVID VAISEY TRUST BALANCE SHEET
AS AT 31 OCTOBER 2020
| Notes CURRENT ASSETS Cash at bank CREDITORS:amounts falling due within one year Accrued expenses Deferred income 2 NET CURRENT ASSETS CREDITORS:amounts falling due after one year Deferred income 2 NET ASSETS FUNDS OF THE CHARITY Unrestricted Funds |
2020 £ 17,953 (733) (5,000) 12,220 - 12,220 12,220 |
2019 £ 14,606 |
|---|---|---|
| (800) (2,000) |
||
| 11,806 | ||
| - | ||
| 11,806 | ||
| 11,806 |
Approved and authorised for issue by the Board of Trustees on 25 August 2021 and signed on its behalf by:
Black Robertson Trustee
The related notes 1 to 3 form an integral part of these financial statements
THE DAVID VAISEY TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDING 31 OCTOBER 2020
1. ACCOUNTING POLICIES
a) Basis of Accounting
The David Vaisey Trust is a charitable incorporated organisation registered with the Charity Commission in England with number 1166068. Its registered office is at The Manor, Boddington, Cheltenham GL51 0TJ. These financial statements have been prepared on an accruals basis and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014.
b)
Recognition of Income from Donations
The principal purpose of the Trust is to run the annual David Vaisey Prize. The prize year runs from November to October and the income from donations is therefore recognised in accordance with the prize year for which it has been given (if specified). General donations are recognised on receipt.
2. INCOME FROM DONATIONS
The majority of the income recognised this year was received in the current accounting period. Some of the funding for next year was received this year and has therefore been deferred in accordance with the accounting policy above to fund the relevant year or years of the prize as analysed below:
| Year received | 2019 | 2020 |
|---|---|---|
| Donations for 2020/21 | - | 5,000 |
3. EMPLOYEE AND TRUSTEE INFORMATION
The Trust employed no staff in the period. The Trustees received no remuneration in the period.
The Trust engaged the services of a Prize Administrator for the year who was paid an honorarium of £2,800.
The work of the Trust in delivering its aims and objectives is supported by a number of volunteers who provide their services without charge.