CHARrtY NUMBER: 1166068 THE DAVID VAISEY TRUST REPORT AND FINANCIAL STATEMENTS 31 OCTOBER 2022 THE DAVID VAISEY TRUST TRUSTEES, REPORT YEAR ENDED 31 OCTOBER 2022 The Trustees present their repxt and the ffinancial State￿￿nts for Ihe year to 31 Ociober 2022. PRINCIPAL ACTIVITY The principal object of the chanty 1$ the advan￿ment of education by encouraging and d8vèloping reading and literacy amongst the general public. parti¢ularty in Gloucestsrshire - a funcbon rt carries out in partnership with public libraiies. An increasingty important aspect is the fccus on young people, the socially disadvantaged and volunteer supwrt. TRUSTEES The Trustees who served during the finan￿al year are as follows: Jonathan Taylor Sir Michael Mcwilliam Lady Katherine MacDuff GA '81ack' Robertson Sarah Smyth Tryphosa Bennett Dr Deborah Thacker {resigned 1 April 2022) (appointed 14 June 2022) (appointed 31 Octobèr 2022) The Trustees are re$p)n8ible for keeping •Yequate accounting records that are suffi¢lont to show and expL8in the ¢harity's IT8nsa¢tions and disclose wilh reasonable accura¢y at any time the financial position ofthe charity and enable them to ensure that the finanaal statements can be prepared for each financial year that compty with the Ststement of Recommended PraclKe". Accounting and Reporting by Charities preparing their accounts in aco)rdance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 issued on 16 July 2014. They are also responsible for safeguarding the assets of the charity and hence for taking reasonab￿ steps for the p￿VentIon and detection of fraud and other irregularitses. ACTivrriES IN THE PERIOD The 2022 David Vaisey cOm￿￿'t￿n saw a reium to near nonnality after the pandemic, albert with participation down on pre-covhj years. T￿keSbury library nevertheless KKoved a worthy winner wlth its project to meet community needs by linking with Sl Margaret Schwl, whère half the sludents attract the pupil premium and a third have special educational needs or disabilities. ￿lIe Gloucestershi Ilbraries continue lo develop new and exciing ways to support the Trust's aims, lo encourage greater participation and redu￿ the burden of annual participation the trustees have revised their approach to the 2023 competition, moving from prizes to awards that encourage greater innovation and longevity. After tsvo difficult years for fundraising. the David Varsey Trust was much rTr)re $u¢cessful this year and fvnding for the 2023 Awards is now secure. The accounts show a surplus on the year of £2,928 which was added to reserves. The Trusl is particularfy grateful to the Julia and Hans Rausing Trusc vthich has provided significant fvnding to support the Current and future y￿r$. Reserves are at around 11 mnths of operating extenditure. The trustees would like to thank all those who have supported the Trust during the year, both financially and operabonalty. and help Unde￿rite the immediate future of the David Vaisey Awards. By order of the Board of Trustees GA Robertson Trustee July 2023 THE DAVID VAISEY TRUST STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDING 31 OCTOBER 2022 Notes 2022 2021 INCOMING RESOURCES Income from donations 17.250 10,5CNJ Bank interest 17.250 10,500 RESOURCES EXPENDED Prvzes awarded 8,700 3.782 1,720 120 8,600 2,231 1.567 120 Expenses of awarding prtzes Trust events and publicty AdrninistratiV8 expenses and bank charges 14,322 12,518 NET INCOMEIIEXPENDrruRE) FOR THE YEAR 2,928 12,018} The related notes 1 to 3 form an Integral part of these financoal statements THE DAVID VAISEY TRUST BALANCE SHEET AS AT 31 OCTOBER 2022 Notes 2022 2021 CURRENT ASSETS Cash at bank 28.130 15,202 CREDITORS: amounts falling due within year Accmed expenses Defer￿d income (10.0001 15,0001 NET CURRENT ASSErs 18,130 10.202 CREDITORS: amounts falling due after one year Deferred income 15.000 NET ASSETS 13,130 10,202 FUNDS OF THE CHARITY Unrestricted Funds 13,130 10,202 Approved and authorised for issue by the Board of Trustees on 17 July 2023 and signed on its behalf by.. GA Robertson Treasurer The related note8 1 to 3 fomi an integr41 part of these financlal statements THE DAVID VAISEY TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDING 31 OCTOBER 2022 ACCOUNTING POLICIES 8a81s of Ac¢ountlng The David Vaisey Trust is a chatttable incorForatsd organisation regISte￿d with the Charity commiss￿ in England with number 1166068. Its registered office is at The Manor, Boddington. Chemenham, GL51 OTJ. These finaneial statements have been prepared on an accruals basis and in accordance wrth the Statement of Recommended Practi￿." Accounting and Reporting by Chanb'es preparing their accounts in accordance with the Financial Reporting Standard ap￿icable In the UK and Republic of Ireland IFRS 1021 issued on 16 Juty 2014. b) Ro¢ognltlon of Incomo from Donatlon8 The principal purpose of the Trust is lo run the annual Day￿ Vaisey Prize. Tho Prize year runs from November to October and the income from donations is therefore recognised in accordance wtth the Prize year for which it has been given (if specified}. General donations are recognised on receipt. Gift Aid is lo be reclalm8d on donations from 2021 (and earfier wher& passiblel and wlll be recognised in the year the funds are received fr￿￿ HMRC. INCOME FROM DONATIONS The maiorty of the income recogni8ed thls year was received in the current accounting period. Some of the fvnding for next year was received this year and has therefor8 been deferred In accordance with the accounts'ng policy above to fund the relevant year or years of th& PrrLe as anatysed ￿lOw.. Year receNed 2021 2022 Donations for 2022123 Donations for 2023124 £1.OCKI £9.000 £5.000 EMPLOYEE AND TRUSTEE INFORMATION The Trust employed no stsff in the period. The trustees re(*Ned no remuneration in the period. The Trust engaged the serv￿$ of an Admintstrator for the year who was paid an honorarium of £2,800. The work of the Trust in delivering its aims and objecti'ves is supported by a number of volunteers who provide their setvices wrthout charge.