## **The 1485 Charitable Trust Annual Report for Financial Year to end March 2024**
In 2023 and 2024 so far, world economies continued their intermittent recovery from the lows of 2020, but the finances of our recipient charities and of lower income households everywhere, but especially in the UK, appear to be worse than in 2020, 2021 and 2022 as low wages failed to keep up with rocketing food and energy prices, in spite of a tight labour market.
In 2021/22 we started to specialise in “hardship grants”, very small donations to the hardship funds of carefully checked organisations who specialise in supporting their clients in crisis. Last year we made 42 hardship grants totalling £57k, with an average size of £1400; this year it was 45 hardship grants totalling £66k with a slightly higher average size of £1500. Hardship thus defined therefore remains the majority of what we fund at present, but the growth of grant-making year-to-year is perhaps disappointing, especially given the degree of need in the UK. We shall continue to monitor our recipients carefully, however, and to try to ensure not to give them donations when local funding may still be available. We hope to continue growing our hardship program.
Otherwise, on top of our regular monthly round of donations to four Christian causes which once again amounted to £8k in the year, we made one five-figure grant (in two parts) to Insulate Ukraine and a number of other smaller donations, including £4.5k to the international relief trust Two Walters, of which I am a trustee.
Grant payout in the year to March 2023 amounted to about 5% (£100k on £2m of assets), up from 4% last year and 3% the year before.
As for the Trust’s bank account, the receipts and payments of the Trust for the year to 31st March 2023 show a reduction in funds of £84k to a year-end balance of £15k. This mainly reflects our desire to keep the balance low, and obtain a monthly payment from RIM into the bank account, currently £7k.
Our external money manager is Ruffer Investment Management. Trustees remain convinced that Ruffer is the best guardian of the charity’s assets in these extremely volatile times in spite of indifferent recent performance.
For our registration number, address, trustee names and charitable purposes, see https://register-of-charities.charitycommission.gov.uk/charity-search/- /charity details/5112248 . It is the collective responsibility of trustees to identify, assess and monitor grantees. The Chair is responsible for all other administration. The recruitment of trustees is in full compliance with Charities Commission recommendations.
Michal G D Giedroyc, Chair of Trustees The 1485 Charitable Trust June 8[th] , 2024
**Charity Name No (if any) The 1485 Charitable Trust 1175902**
## **Receipts and payments accounts**
## **CC16a**
**For the period** Period start date Period end date **To from** April 1st 2023 March 31st 2024
## **Section A Receipts and payments**
|**A1 Receipts**|**Unrestricted**
**funds**
**to the nearest £**|**Unrestricted**
**funds**
**to the nearest £**|**Restricted funds**
**to the nearest £**|**Restricted funds**
**to the nearest £**|**Endowment**
**funds**
**to the nearest £**|**Endowment**
**funds**
**to the nearest £**|**Total funds**
**to the nearest £**|**Total funds**
**to the nearest £**|**Last year**
**to the nearest £**|
|---|---|---|---|---|---|---|---|---|---|
|
Donations made byMGDG & DAUJ|**85,000**||**-**||**-**||**85,000**||**53,500**|
|Transfers from 1485 Inv Account at RIM|**82,000**||**-**||**-**||**82,000**||**-**|
||**-**||**-**||**-**||**-**||**-**|
||**-**||**-**||**-**||**-**||**-**|
||**-**||**-**||**-**||**-**||**-**|
||**-**||**-**||**-**||**-**||**-**|
||**-**||**-**||**-**||**-**||**-**|
||**-**||**-**||**-**||**-**||**-**|
|**_Sub total_**_(Gross income for AR)_|**167,000**||**-**||**-**||**167,000**||**53,500**|
|||||||||||
|**A2 Asset and investment sales,**
**(see table).**||||||||||
||**-**|||||||||
||**-**||||||||**-**|
|**_Sub total_**|**-**||||||||**-**|
|**_Total receipts_**
**A3 Payments**||||||||||
||||||||||**53,500**|
|||||||||||
|
Grants Made|**100,177**||||||||**87,785**|
|Transfers to 1485 Inv Account at RIM|**150,000**||||||||**-**|
|Bank Charges|**450**||||||||**675**|
||**-**||||||||**-**|
||**-**||||||||**-**|
||**-**||||||||**-**|
||**-**||||||||**-**|
||**-**||||||||**-**|
||**-**||||||||**-**|
|**_Sub total_ **|**250,627**||||||||**88,460**|
|||||||||||
|**A4 Asset and investment**
**purchases, (see table)**||||||||||
||**-**|||||||||
||**-**|||||||||
|**_Sub total_ **|**-**||||||||**-**|
|**_Total payments_**
**_Net of receipts/(payments)_**
**A5 Transfers between funds**
**A6 Cash funds last year end**
**_Cash funds this year end_**||||||||||
||||||||||**88,460**|
|||||||||||
||**- 83,627**||||||**- 83,627**||**- 34,960**|
||**-**||||||**-**||**-**|
||**98,203**||||||**98,203**||**133,163**|
||**14,576**||||||**14,576**||**98,203**|
## **Section B Statement of assets and liabilities at the end of the period**
|CCXX R1 accounts (SS)
**Categories**
**B1 Cash funds**|1
Coutts & Co Current Account
**Details**
**_Total cash funds_**
(agree balances with receipts and payments account(s))|**Unrestricted**
**funds**
**to nearest £**
**14,576**
**-**
**14,576**
OK|05/07/2024
**Restricted funds**
**Endowment**
**funds**
**to nearest £**
**to nearest £**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
OK
OK|**Endowment**
**funds**
**to nearest £**|
|---|---|---|---|---|
|||||**-**|
|||||**-**|
|||||**-**|
|||||**-**|
|Signed by one or two trustees on
behalf of all the trustees
**B2 Other monetary assets**
**B4 Assets retained for the**
**charity’s own use**
**B5 Liabilities**
**B3 Investment assets**|Signature
**Details**
**Details**
**Details**
**Details**
Portfolio wth Ruffer Investment Mgmt (RIM)|**Unrestricted**
**funds**
**Restricted funds**
**to nearest £**
**to nearest £**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**Fund to which asset**
**belongs**
**Cost (optional)**
**2,263,889**
**-**
**-**
**-**
**-**
**Fund to which asset**
**belongs**
**Cost (optional)**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**Fund to which**
**liability relates**
**Amount due**
**(optional)**
**-**
**-**
**-**
**-**
**-**
Print Name
MichalGDGiedroyc|**Endowment**
**funds**
**to nearest £**|
|---|---|---|---|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**Current value**
**(optional)**|
||||**2,046,109**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**Current value**
**(optional)**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**When due**
**(optional)**|
|||||
|||||
|||||
|||||
|||||
|||||
||||Date of approval|
|||MichalGDGiedroyc|June 8th 2024|
|||||
CCXX R2 accounts (SS)
05/07/2024
2
## **Independent examiner’s report to the trustees of the 1485 Charitable Trust**
I report to the trustees on my examination of the account **s** of the 1485 Charitable Trust (the Trust) for the accounting period ended 31[st] March 2024.
## **Responsibilities and basis of the report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the Act).
I report in respect of my examination of the Trust’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 145(5)(b) of the Act
## **Independent examiners statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. Accounting records were not kept in respect of the Trust as required by section 130 of the Act, or
2. The accounts do not accord with those records.
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 understanding of the accounts to be reached.
Signed Name Edward David Griffiths Professional Body Chartered Institute of Public Finance and Accountancy Membership No 00006890 Address 11 Northwick Park Road, Harrow, Middx. HA1 2NY Date 10th June 2024