CHARITY NUMBER: 1186068 THE DAVID VAISEY TRUST REPORT AND FINANCIAL STATEMENTS 31 OCTOBER 2023
THE DAVID VAISEY TRUST TRUSTEES, REPORT YEAR ENDED 31 OCTOBER 2023 The Trustees present their report and the finala1 statements for the year to 31 October 2023. PRINCIPAL ACTIVITY The principal obje¢l of the chanty is the advancement of education by encouraging and developing reading and literacy amongst the general public, particularfy in Gloucestefshire - a function rt carries wt in partnership with public libraries. An increasingly important aspect is the focus on youngsters, the socialty disadvantaged and volunteer support. TRUSTEES Th8 Trustees, all of whom served throughout the firJ8ncial year, are as follows.. Jonathan Taylor Sir Michael McWilli8m GA'Black' Robertson Safah Smyth Deborah Thacker Tryphosa Bennett The Trustees are responsible for keeping 3dU#te aOuntIng COrdS that a sufficient to show and explain the chality's Iransactions and disclose wth reasonable accuracy al any lime the financial position ol the charity and enab thèm to ensure that the financial slalements can be prepared for each financial year that cornply wrth the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accoun15 in aG¢ordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 July 2014. They are also responsible for safeguarding the assets of thè charity and hen for taking reasonable steps for the prevention arKI detection of fraud and othei Irrulari.es. ACTIVITIES IN THE PERIOD The 2023 activities IcK)k a new direction in the fomi of awards to support bJture initk*ives rather than prizes for completed projects. This Èncouraged a wider scope of applications and rnade the judging process more consultative and supportive. Glou¢eslershire Library Service has been awarded NPO stslus by the Arts Council England and in antiCipatn th81 this would impact on the nLImr of applicatDns. the Trust decided lo pilot awards for Gloucestershire State School librae3 and reading initiatives, with the inlenb.on of rolling it OLrt fully for 2025. The Trust also became a member of a newly formed group of reading chantyès in Gloucestershire that meets annually. The David Vaisey Trust has recewed a steady stream offunding this year and is well placed to fvnd the award5 for the next two years. As the grants being awarded are being phased over a period of lime there will be more variabilty in payments made. The Trust made a profit of £2,784 in the year which was added to reserves. Reserves are al almost 2 years of operab'ng expenditure based on current year figures, but this is mainly driven by expenditure being around 60% of the previous ye8r. The trustees would like lo thank all those who have supported the Trust during the year, both financially and operats'onally, and help underwrite the immediate future of the David Vaisey Prize. order of the Board of Trustees Deborah Thacker Trustee 7 August 2024
THE DAVID VAISEY TRUST STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDING 31 OCTOBER 2023 Notès 2023 2022 INCOMING RESOURCES Income from donations 10,941 17.250 Bank interest 10,941 17,250 RESOURCES EXPENDED Prizes awarded 4,750 8.700 Expenses ol awarding prizes Trust events and publicity Administrative expense5 and bank charges 1,869 1,418 3,782 1.720 120 120 8,157 14,322 NET INCOME FOR THE YEAR 2,784 2.928 The relaled notes 1 to 3 fomi an integral part of these financlal 8tat8m8nts
THE DAVID VAISEY TRUST BALANCE SHEET AS AT 31 OCTOBER 2023 Note5 2023 2022 CURRENT ASSETS Cash al b8nk 34.606 28.130 CREDITORS: amounts falling due within one year Accrued expenses Deferred income 11,692) 112,000} {10.(K>OI NET CURRENT ASSETS 20,914 18,130 CREDITORS: amounts falling due after one ye Deferred income 15.0001 15,0001 NET ASSETS 15.914 13.130 FUNDS OF THE CHARITY Unr¢$trl¢ted Funds 15,914 13,130 Approved and authortsed for issue by the Board ofTruslees on Ph August 2024 and signed on its behalf by.. Brian Bennett Treasurer Th• rnlat8d not•s 1 to 3 forn? an integral part of these financial Statements
THE DAVID VAISEY TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDING 31 OCTOBER 2023 ACCOUNTING POLICIES Basls of A¢¢ountlng The David Vaisey Trust Is a charitable incorporated organisalion registered with the Charity Commission in England with number 116618. Its registered offKe is at The Manor, Boddinglon, Cheltenham GL51 OTJ These financial statements have been prepared on an a¢cruals basis alld in accordance with the Slalemenl of Recommended practi." Ac¢ounb"ng and ReFKirting by Charib'es preparing iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 issued on 16 July 2014. bl R8cognltlon of Income from Donations The principal purpose ol Ehe Trusl is to run th8 annual D8vid Vaisey Prize. The Prize year runs from November to Ociober and Ihe in¢ome from donations is therefore recognised in accordance wilh Ihe Piize year forwhich it has been given lif speryfiedl. General donallons are reCnISed on Ceipt GiftAid is reclaimed on donations al s11 be recognised in the year the funds are receive(f from HMRC. INCOME FROM DONATIONS The majority of the incomè renised this year was reiVed in the pr8vious accounting period or lated lo gift aid claims from prior perilyjs. Some ol the funding for Ihe next two years was received this year and has therefore been deferred in accordance with the acUnts.ng policy above lo fund the relevant year or years of the Prize as analysed below.. Year received 2022 2023 Donations for 2023124 Donations foi 2024125 £8.500 £3,500 £5.000 EMPLOYEE AND TRUSTEE INFORMATION The Trust amployed no staff in the period. Thè Iwstees receNed no remuneration in the peflod. The Trust engageil the services of an Awards A(Iminislralor for the year who was paid an honorarium of £2,800. The work ol the Twsl in delivering its aims and objectives is 3UPPOrted by a number of volunteers who provKle Iheii services without charge.