## **THE DANIELL TRUST**
**Charity Registration Number 1176166 Charitable Incorporated Organisation CE012592**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 5 APRIL 2021**
## **THE DANIELL TRUST**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees’ Report|1 – 3|
|Independent Examiner’s Report|4|
|Receipts and Payments Accounts|5|
|Statement of Assets and Liabilities|6|
|Notes to the Accounts|7|
## **THE DANIELL TRUST**
## **TRUSTEES REPORT**
## **FOR THE YEAR ENDED 5 APRIL 2021**
The Trustees present their report and financial statements for the year ended 5 April 2021.
The Trustees’ report has been prepared in accordance with the Trust’s governing document, the Charities Act 2011 and the Charities Statement of Recommended Practice (“Charities SORP”) (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)”) issued in October 2019. The financial statements have been prepared on a receipts and payments basis.
## **Objectives and Activities**
The objectives of the Trust are summarised as followed: -
1. We support the care and education of children or others with severe learning difficulties.
- 2 We also support environmental conservation charities, including those with a wildlife focus combined with local community engagement.
## **Achievements and Performance**
In planning the charity’s activities, the Trustees have paid due regard to the Charity Commission’s guidance on public benefit. The Trust has established its grant-making policy to achieve its objects for the public benefit to improve the care and education of children (or others) with severe learning difficulties and to encourage environmental conservation (including wildlife and buildings).
The beneficiaries of the grants are from all sectors of society and the Trustees consider all applications where they fit with the objectives of the Trust. The grants in the period have been to community trusts, wildlife charities, children’s centres and organisations that assist young people with special needs.
The charity’s income for the period was all derived from investments. No fund raising activities were carried out.
## **Financial Review**
The charity’s income for the year amounted to £70,562, of which £4,113 was received in error. This was a banking error and will be corrected following the year end. During the year donations of £60,000 were paid to charities whose applications for funding were approved by the Trustees.
As there is a great demand for grants, the Trustees try to choose smaller or locally based projects and organisations in preference to larger national ones.
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**THE DANIELL TRUST**
## **TRUSTEES’ REPORT (Continued)**
## _**FOR THE YEAR ENDED 5 APRIL 2021**_
## **Reserves and Investment Policy**
The Trustees aim to make investments where possible, that are compatible with the charity’s ethical objectives. The Trustees review the capital and income performance of their investment strategy on an annual basis. Assets of the charity are invested in a well-diversified portfolio consisting of funds that invest in different countries, sectors and asset classes.
The Trustees do not set an amount of the Trust’s earned income for reinvestment or to build reserves. The Trustee’s objective of achieving a growing income over time can be met solely through its investment strategy. The charity operation does not currently require a reserve. It is the policy of the Trustees that net accrued dividend income, that being the total less anticipated operating expenses, will, on an annual basis, be spent entirely on the causes that Trustees agree to support.
## **Plans for the Future**
It is the intention of the Trustees to continue making charitable donations for as long as there are funds available.
## **Structure and Governance**
The Trust is constituted as a Charitable Incorporated Organisation (CIO) under a trust deed dated 7 December 2017. At the Trustees’ meetings, the Trustees agree the broad strategy and areas of activity for the Trust including consideration of grant making, investment, reserves and risk management. The constitution requires the Trust to have a minimum of three Trustees. Additional Trustees can be appointed at any Trustees’ meeting or at a special meeting of the Trustees.
This charity took over the assets and liabilities of The Antony and Noreen Daniell Charitable Trust (1038948) on 31 December 2017. That charity was created by a declaration of trust dated 30 November 1993. The trustees of the old charity became trustees of this charity and the objectives of the old charity (1038948) were imbedded in this charity’s constitution. The Antony and Noreen Daniell Charitable Trust has since been wound up and removed from the Charity Commission’s register.
## Recruitment and Appointment of Trustees
Trustees would welcome interest from anyone who would like to become a Trustee. Any new Trustees would be provided with a copy of the Trust Deed and have a meeting with the existing Trustees to explain the aims and objectives of the Trust.
The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Trust and enable them to ensure that the accounts comply with the Charities act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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**THE DANIELL TRUST**
## **TRUSTEES’ REPORT (Continued)**
## _**FOR THE YEAR ENDED 5 APRIL 2021**_
## **Reference and Administrative Details**
The Daniell Trust is a Charitable Incorporated Organisation registered by the Charity Commission for England and Wales No. 1176166 on the 7 December 2017.
|**Trustees**|Odette Murray|
|---|---|
||Will Prestwood|
||Keith Bennett|
||Carmen Cullis|
||Katie Edwards|
|**Principal Office**|1 Brassey Road|
||Old Potts Way|
||Shrewsbury|
||Shropshire|
||SY3 7FA|
The Trustees’ report was approved by the Board of Trustees and signed on their behalf by
………………………………
Trustee
Dated ………………………
3
## **THE DANIELL TRUST**
## **INDEPENDENT EXAMINER’S REPORT**
## **TO THE TRUSTEES OF 5 APRIL 2021**
I report to the Trustees on my examination of the financial statement of The Daniell Trust for the year ended 5 April 2021.
## **Responsibilities and basis of report**
As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
The Trustees have engaged Dyke Yaxley, a firm of which I am a director, to provide bookkeeping services to The Daniell Trust. I have considered the guidance contained in the FRC’s Revised Ethical Standard and concluded that the provision of bookkeeping service does not pose a threat to my integrity, objectivity and independence as an examiner, and does not impact on my ability to carry out this independent examination.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
I have completed my examination. I confirm that no 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 charity as required by section 130 of the 2011 Act, and
- 2 the financial statements 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 financial statements to be reached.
Ian Walsh FCA Dyke Yaxley 1 Brassey Road Old Potts Way Shrewsbury Shropshire SY3 7FA
Dated ………………….
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## **THE DANIELL TRUST**
## **RECEIPTS AND PAYMENTS ACCOUNTS**
## _**FOR THE YEAR ENDED 5 APRIL 2021**_
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**Funds**|**Funds**|
||**2021**|**2020**|
||**£**
|**£**|
|**Receipts**|||
|Investment Income|63,408|61,511|
|Interest|18|191|
|Other Income|3,023|-|
|Funds received in error|4,113
|-
|
||70,562|61,702|
|**Receipts from sale of investments**|546,848
|693,515|
|**Total receipts**|617,410
|755,217|
|**Payments**|||
|Donations|60,000|54,000|
|Accountants’ Fees|||
|Management Support|2,100|1,260|
|Independent Examination|1,152|1,110|
|Other|334|461|
|Stockbroker’s Fees|-|-|
|Sundry|375
|746
|
||63,961|57,577|
|**Purchase of investments**|580,022
|660,285|
|**Total payments**|643,983
|717,862|
|**Net of receipts/ (payments)**|(26,573)|37,355|
|**Cash funds at 6 April 2019/20**|71,669
|34,314|
|**Cash funds at 5 April 2020/21**|45,096
|71,669|
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## **THE DANIELL TRUST**
## **STATEMENTS OF ASSETS AND LIABILITIES**
## _**FOR THE YEAR ENDED 5 APRIL 2021**_
|**Cash Funds**
Cash at Bank and in hand
**Investment assets**
Value as at 30 April
**Liabilities**
Independent examiner’s fee
Funds received in error- to be repaid|**Fund**
Unrestricted
**Fund**
Unrestricted
Unrestricted|**2021**
**£**
45,096
**Cost**
**Market Value**
1,408,571
1,538,830
**Amount due**
1,188
4,113|**2020**
**£**
71,669
**Market Value**
1,237,477
**Amount due**
1,152
-|
|---|---|---|---|
The financial statements were approved by the Trustees on ……………….
**……………………………. Will Prestwood Trustee**
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## **CHARITY NAME**
## **NOTES TO THE FINANCIAL STATEMENTS**
## _**FOR THE YEAR ENDED 5 APRIL 2021**_
## **Notes to the financial statements**
## **1. Trustee Remuneration and expenses**
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year or during the previous year.
One trustee was reimbursed expenses of £305. In 2020 two trustees were reimbursed expenses of £686.
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