**REGISTERED CHARITY NUMBER: 1176068** **REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** ## **FOR** ## **O'BRIEN CHARITABLE TRUST** Murphy Salisbury Limited Chartered Accountants 15 Warwick Road Stratford upon Avon Warwickshire CV37 6YW **O'BRIEN CHARITABLE TRUST** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** |||**Page**|| |---|---|---|---| |**Reference and Administrative Details**||1|| |**Report of the Trustees**|2|to|3| |**Independent Examiner's Report**||4|| |**Statement of Financial Activities**||5|| |**Balance Sheet**||6|| |**Notes to the Financial Statements**|7|to|10| |**Detailed Statement of Financial Activities**||11|| **O'BRIEN CHARITABLE TRUST** ## **REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2022** **TRUSTEES** P N O'Brien W Inskip Miss V J O'Brien **PRINCIPAL ADDRESS** Manor Cottage Church Lane Cubbington Leamington Spa Warwickshire CV32 7JT **REGISTERED CHARITY** 1176068 **NUMBER INDEPENDENT EXAMINER** Murphy Salisbury Limited Chartered Accountants 15 Warwick Road Stratford upon Avon Warwickshire CV37 6YW ## **TRUSTEES** Page 1 **O'BRIEN CHARITABLE TRUST** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** The trustees present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The charity's objects is to support such general charitable purposes as the trustees may in their absolute discretion determine in the Midlands. ## **Significant activities, achievements and performance** During the year, the charity has held various fundraising events and, along with the donation received from O'Brien Contractors Limited, has been able to make donations out to other various charities as decided by the trustees. ## **Public benefit** The Trustees confirm that they have complied with their duty under Section 4 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit. ## **Volunteers** The charity does not utilise volunteers to assist with their work. ## **FINANCIAL REVIEW** ## **Financial position** The net surplus for the period was £27,337, comprising total incoming resources of £48,711, and total resources expended of £21,383. The charity's total funds for the period were a surplus of £27,109. ## **Reserves policy** The Trustees review the level of unrestricted reserves to ensure that the charity has sufficient funds to meet expenditure requirements. The Trustees consider that the current level of unrestricted reserves to be adequate. ## **FUTURE PLANS** The charity intends to continue its fundraising efforts to enable it to make donations out to other charities. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. ## **Recruitment and appointment of new trustees** Trustees may be appointed by existing Trustees in accordance with the Trust Deed of the Charity. ## **Induction and training of new trustees** New trustees undergo an orientation process to brief them on their legal obligations under charity law, the charity's governing documents, the committee and decision making processes, the business plan and recent financial performance of the charity. During the induction process they meet other trustees. Trustees are encouraged to attend appropriate external and internal training events which will assist them in carrying out their role. ## **Risk management** The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. ## **COMMENCEMENT OF ACTIVITIES** The charity's activities commenced on 4 December 2017. Page 2 **O'BRIEN CHARITABLE TRUST** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** Approved by order of the board of trustees on 20 December 2022 and signed on its behalf by: P N O'Brien - Trustee Page 3 **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF O'BRIEN CHARITABLE TRUST** ## **Independent examiner's report to the trustees of O'Brien Charitable Trust** I report to the charity trustees on my examination of the accounts of O'Brien Charitable Trust (the Trust) for the year ended 31 March 2022. ## **Responsibilities and basis of 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 Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's 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; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. 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. Mark Bullock FCA Murphy Salisbury Limited Chartered Accountants 15 Warwick Road Stratford upon Avon Warwickshire CV37 6YW 20 December 2022 Page 4 **O'BRIEN CHARITABLE TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022** |2022
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
48,711
**EXPENDITURE ON**
**Charitable activities**
3
Charitable activities
21,374
**NET INCOME/(EXPENDITURE)**
27,337
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
(228)
**TOTAL FUNDS CARRIED FORWARD**
27,109|2021
Total
funds
£
33,294
41,622
(8,328)
8,100
(228)| |---|---| The notes form part of these financial statements Page 5 **O'BRIEN CHARITABLE TRUST** ## **BALANCE SHEET** ## **31 MARCH 2022** |2022
Unrestricted
fund
Notes
£
**FIXED ASSETS**
Intangible assets
7
-
**CURRENT ASSETS**
Debtors
8
500
Cash at bank
36,599
37,099
**CREDITORS**
Amounts falling due within one year
9
(9,990)
**NET CURRENT ASSETS/(LIABILITIES)**
27,109
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
27,109
**NET ASSETS/(LIABILITIES)**
27,109
**FUNDS**
10
Unrestricted funds
27,109
**TOTAL FUNDS**
27,109|2021
Total
funds
£
560
2,000
1,259
3,259
(4,047)
(788)
(228)
(228)
(228)
(228)| |---|---| The financial statements were approved by the Board of Trustees and authorised for issue on 20 December 2022 and were signed on its behalf by: P N O'Brien - Trustee The notes form part of these financial statements Page 6 **O'BRIEN CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **2. DONATIONS AND LEGACIES** |2022
£
Donations
48,711
**CHARITABLE ACTIVITIES COSTS**
Support
Direct
costs (see
Costs
note 4)
£
£
Charitable activities
20,700
674|2021
£
33,294| |---|---| ||Totals
£
21,374| ## **3. CHARITABLE ACTIVITIES COSTS** continued... Page 7 **O'BRIEN CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **4. SUPPORT COSTS** |**SUPPORT COSTS**|||| |---|---|---|---| ||Management|Finance|Totals| ||£|£|£| |Charitable activities|578|96|674| ## **5. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021. ## **6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** ## **7.** ||Unrestricted| |---|---| ||fund| ||£| |**INCOME AND ENDOWMENTS FROM**|| |Donations and legacies|33,294| |**EXPENDITURE ON**|| |**Charitable activities**|| |Charitable activities|41,622| |**NET INCOME/(EXPENDITURE)**|(8,328)| |**RECONCILIATION OF FUNDS**|| |**Total funds brought forward**|8,100| |**TOTAL FUNDS CARRIED FORWARD**|(228)| |**INTANGIBLE FIXED ASSETS**|| ||Computer| ||software| ||£| |**COST**|| |At 1 April 2021 and 31 March 2022|2,240| |**AMORTISATION**|| |At 1 April 2021|1,680| |Charge for year|560| |At 31 March 2022|2,240| |**NET BOOK VALUE**|| |At 31 March 2022|-| |At 31 March 2021|560| continued... Page 8 **O'BRIEN CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** |**8.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||| |---|---|---|---|---|---| |||||2022|2021| |||||£|£| ||Trade debtors|||500|-| ||Prepayments and accrued income|||-|2,000| |||||500|2,000| |**9.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||| |||||2022|2021| |||||£|£| ||Other creditors|||9,990|4,047| |**10.**|**MOVEMENT IN FUNDS**||||| |||||Net|| |||||movement|At| |||At|1.4.21|in funds|31.3.22| ||||£|£|£| ||**Unrestricted funds**||||| ||General fund||(228)|27,337|27,109| ||**TOTAL FUNDS**||(228)|27,337|27,109| ||Net movement in funds, included in the above are as follows:||||| |||Incoming||Resources|Movement| |||resources||expended|in funds| ||||£|£|£| ||**Unrestricted funds**||||| ||General fund|48,711||(21,374)|27,337| ||**TOTAL FUNDS**|48,711||(21,374)|27,337| ||**Comparatives for movement in funds**||||| |||||Net|| |||||movement|At| |||At|1.4.20|in funds|31.3.21| ||||£|£|£| ||**Unrestricted funds**||||| ||General fund||8,100|(8,328)|(228)| ||**TOTAL FUNDS**||8,100|(8,328)|(228)| continued... Page 9 **O'BRIEN CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **10. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: ||Incoming|Resources|Movement| |---|---|---|---| ||resources|expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|33,294|(41,622)|(8,328)| |**TOTAL FUNDS**|33,294|(41,622)|(8,328)| A current year 12 months and prior year 12 months combined position is as follows: |||Net|| |---|---|---|---| |||movement|At| ||At 1.4.20|in funds|31.3.22| ||£|£|£| |**Unrestricted funds**|||| |General fund|8,100|19,009|27,109| |**TOTAL FUNDS**|8,100|19,009|27,109| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ||Incoming|Resources|Movement| |---|---|---|---| ||resources|expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|82,005|(62,996)|19,009| |**TOTAL FUNDS**|82,005|(62,996)|19,009| ## **11. RELATED PARTY DISCLOSURES** During the period, the charity received donations of £15,000 (2021: £15,000) from O'Brien Contractors Limited, a company which Mr P N O'Brien is a director. At the year end a balance of £240 (2021: £2,288) was owed to O'Brien Contractors Limited by the charity. Page 10 **O'BRIEN CHARITABLE TRUST** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022** |**FOR THE YEAR ENDED**|**31 MARCH 2022**|| |---|---|---| ||2022|2021| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Donations|48,711|33,294| |**Total incoming resources**|48,711|33,294| |**EXPENDITURE**||| |**Charitable activities**||| |Postage and stationery|76|-| |Sundries|1,971|7| |Charity donations|2,000|36,500| |Venue costs|15,853|3,900| |Computer software|800|848| ||20,700|41,255| |**Support costs**||| |**Management**||| |Independent examiner fees|578|216| |**Finance**||| |Bank charges|96|151| |Total resources expended|21,374|41,622| |**Net income/(expenditure)**|27,337|(8,328)| This page does not form part of the statutory financial statements Page 11