## **THE DANIELL TRUST**
**Charity Registration Number 1176166 Company number CE012592**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024**
## **THE DANIELL TRUST**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees’ Report|1 – 3|
|Independent Examiner’s Report|4|
|Receipts and Payments Account|5|
|Statement of Assets and Liabilities|6|
|Notes to the Financial Statement|7|
## **THE DANIELL TRUST**
## **TRUSTEES’ REPORT**
## _**FOR THE YEAR ENDED 5 APRIL 2024**_
The Trustees present their report and financial statements for the year ended 5 April 2024.
The Trustees’ report has been prepared in accordance with the Trust’s governing document, the Charities Act 2011 and “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 from 1 January 2019). The financial statements have been prepared on a receipts and payments basis.
## **Objectives and Activities**
The Trustees have reviewed the objectives of the charity as part of a CIO application. 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 of wildlife and buildings).
The beneficiaries of the grants are from all sectors of society and the Trust 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 £37,994 (2023: £58,643) during the year £100,000 (2023: £73,000) was committed for donations.
In line with their plans for the future (see below) Trustees took the decision to shelter the Trust’s investments from fluctuations in the stock market. During the year, £811,959 (2023: £95,818) was raised from the sale of a number of the Trust’s less predictable investment’s. This sum is now held as a cash asset within the investment portfolio.
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**THE DANIELL TRUST**
## **TRUSTEES’ REPORT (Continued)**
## _**FOR THE YEAR ENDED 5 APRIL 2024**_
## **Reserves Policy**
The charity’s operation does not currently require a reserve.
## **Plans for the Future**
The Trustees have agreed that they will aim to wind up the trust within three years by making one-off larger grants to organisations that will both support the Charity’s objectives and leave a lasting legacy in memory of Anthony and Noreen Daniell. With assistance from our consultant, Expressions of Interest were sought from eligible charities and a large number received. From these submissions and after a rigorous assessment process, the trustees invited a smaller number of charities to prepare Full Applications and as a result we are now committed to funding 11 projects supporting the environment and special education. The trust is likely to be in position to complete the allocation of grants during 2025 and 2026 with the winding up process completed in 2027.
## **Structure and Governance**
The Trust was constituted under a Trust deed dated 30 November 1993. This was converted to a Charitable Incorporated Organisation (CIO) on 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. There shall be at least three Trustees. Additional Trustees can be appointed at any Trustees’ meeting or at a special meeting of the Trustees.
## **Recruitment and Appointment of Trustees**
In view of the decision to wind up the Charity, it is unlikely that additional Trustees will be appointed although if a new Trustee was required, they 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 2024**_
## **Reference and Administrative Details**
The Daniell Trust is a Charitable Incorporated Organisation number CE012592 registered by the Charity Commission for England and Wales No. 1176166 on the 7 December 2017.
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|---|---|
|Trustees|Odette Murray|
|Will Prestwood|
|Keith Bennett|
|Carmen Cullis|
|Katie Edwards|
|Principal Office|1 Brassey Road|
|Old Potts Way|
|Shrewsbury|
|Shropshire|
|SY3 7FA|
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The Trustees’ report was approved by the Board of Trustees and signed on their behalf by
……………………………… Trustee
Dated ………………………
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## **THE DANIELL TRUST**
## **INDEPENDENT EXAMINER’S REPORT**
## **TO THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024**
I report to the Trustees on my examination of the financial statement of The Daniell Trust for the year ended 5 April 2024, which are set out on pages 5 to 7.
## **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 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 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 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 charity as required by section 130 of the Act, or
- 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.
## **Audrey Williams FCCA**
Dyke Yaxley 1 Brassey Road Old Potts Way Shrewsbury Shropshire SY3 7FA
Dated ………………….
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## **THE DANIELL TRUST**
## **RECEIPTS AND PAYMENTS ACCOUNT**
## _**FOR THE YEAR ENDED 5 APRIL 2024**_
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Unrestricted Unrestricted
Funds Funds
2024 2023
£ £
Receipts
Investment Income 24,051 54,163
Interest 12,221 4,480
Other Income 1,722 -
37,994 58,643
Receipts from sale of investments 811,959 95,818
Total receipts 849,953 154,461
Payments
Donations 100,000 73,000
Accountants’ Fees
Bookkeeping fees 1,680 2,100
Independent Examination - 3,330
Other - 888
Bank Charges 60 72
Consultancy Fees 6,805 10,575
Sundry - -
108,545 89,965
Purchase of investments - -
Total payments 108,545 89,965
Net of receipts/ (payments) 741,408 64,496
Cash funds at 6 April 2023/22 757,572 693,076
Cash funds at 5 April 2024/23 1,498,980 757,572
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## **THE DANIELL TRUST**
## **STATEMENT OF ASSETS AND LIABILITIES**
## _**FOR THE YEAR ENDED 5 APRIL 2024**_
|**2024**
**£**
**Cash Funds**
Cash at Bank and in hand
1,498,980
**Investment Assets**
**Fund**
**Cost**
**Market Value**
Value as at 30 April 2024/23
Unrestricted
-
-
There have been no purchase of investments for the year ended 5 April 2024.
**Liabilities**
**Fund**
**Amount due**
Accountants’ fee
2023
Unrestricted
2,556
2024
Unrestricted
3,108|**2023**
**£**
757,572
**Market Value**
817,468
**Amount due**
3,576
-|
|---|---|
The financial statements were approved by the Trustees on ……………….
**……………………………. Will Prestwood Trustee**
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## **THE DANIELL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## _**FOR THE YEAR ENDED 5 APRIL 2024**_
## **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 (2023: None).
No trustees were reimbursed expenses (2023: None).
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