| Trustees' Annual Report | Trustees' Annual Report | Trustees' Annual Report | Trustees' Annual Report | Trustees' Annual Report | for theperiod | for theperiod | for theperiod | ||
|---|---|---|---|---|---|---|---|---|---|
| From | Period start date | To | Period end date | ||||||
| 01 | 04 | 2022 | 31 | 03 | 2023 |
Section A Reference and administration details
Charity name
Garratt Family Trust
Other names charity is known by
None
Registered charity number (if any) 1178292
Charity's principal address Whitehouse Farm St. Weonards Hereford Postcode HR2 8QG
Names of the charity trustees who manage the charity
| 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 |
Trustee name | Office (if any) | Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee (ifany) |
|
|---|---|---|---|---|---|
| Peter Garratt | Chair | ||||
| Susan Garratt | |||||
| TimothyGarratt | |||||
| PollyGarratt | |||||
| AnthonyGarratt | |||||
| Anna Garratt | |||||
| Names of the trustees for the charity, if any, (for example, any custodian trustees) | |||||
| Name | Dates acted if not for whole year | ||||
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Names and addresses of advisers (Optional information)
| Type of adviser | Name Address |
Name Address |
|---|---|---|
| Investment | Lee Westley | Stanbridge Family Ofce Limited: Avebury House, 6 St Peter Street, Winchester, Hampshire, SO23 8BN. |
Street, Winchester, Hampshire, SO23 8BN. |
||
Name of chief executive or names of senior staff members (Optional information)
Section B Structure, governance and management
Description of the charity’s trusts
Type of governing document
Constitution adopted 16/04/2018
- (eg. trust deed, constitution)
Charitable Incorporated Organisation (CIO) How the charity is constituted
- (eg. trust, association, company)
Suitably qualified family members, appointed by consensus. Trustee selection methods
(eg. appointed by, elected by)
Additional governance issues (Optional information)
You may choose to include additional information, where relevant, about:
The trustees have closely followed the governance procedures set out in the Constitution.
-
policies and procedures adopted for the induction and training of trustees;
-
the charity’s organisational structure and any wider network with which the charity works;
-
relationship with any related parties;
-
trustees’ consideration of major risks and the system and procedures to manage them.
Section C Objectives and activities
Summary of the objects of the charity set out in its governing document
The objects of the CIO are to apply such funds as it may hold from time to time for such charitable purposes as are lawful for the benefit of individuals or associations, institutions or organisations established for such purposes.
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After research and appropriate due diligence, the Trustees resolved to award grants as follows from the trust fund for the year 2022/23: Beneficiary Registered Charity No. Amount Jamie’s Farm 1129544 £18000 Spartans SC037598 (Scottish) £2000 Maldon Pioneers 295993 £4000
The beneficiaries are all charities serving the needs of disadvantaged children and young adults through activities that meet the objectives of the Garratt Family Trust .
Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)
The Trustees have made further progress in forging a long-term relationship with Jamie’s Farm, with visits to the Hereford farms during the year.
There were no further donations from the Garratt family to the Trust portfolio in the year under reference. The total under management fell by approximately £21000 (after grant payments) over the year to 1[st] September 2023 reflecting a return of only 0.57% on funds under management, which is consistent with stagnation over a broad range of asset classes over the period .
The Trustees declare that they have had regard to the guidance issued by the Charity Commission on public benefit in their management of the Trust over the period covered by this report.
Additional details of objectives and activities (Optional information)
The charitable objectives of the CIO are as follows:
To support the educational and career aspirations of creative young people
To support environmental and conservation initiatives, especially those relating to the marine environment
- To support socially disadvantaged individuals and families
You may choose to include further statements, where relevant, about:
-
policy on grantmaking;
-
policy programme related investment;
-
contribution made by volunteers.
-
To support the provision of midwifery and early child educational and developmental initiatives
-
To support initiatives aimed at enabling the physically and /or mentally disadvantaged to achieve their full potential
-
To make donations to registered UK charities
Our policy is not to accept unsolicited grant applications but to select beneficiaries based on the research and experience of the trustees. We aim to build long-term beneficial relationships, subject to positive reported outcomes. We will aim to distribute each year the accrued income from the trust’s investment portfolio
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Section D Achievements and performance
Summary of the main achievements of the charity during the year
Despite the difficult market conditions in 2022/23, the trustees decided to maintain total grant awards at the same level as over the preceding year. It was agreed that the annual donation to Jamie’s Farm should be further increased, recognising the excellent work that they are doing under difficult conditions and to help fund their expansion programme.
The donation to Spartans was reduced, recognising that they have been successful in raising funding from other sources.
The support to Maldon Pioneers was maintained at £4000 to enable them to continue funding the activities organiser whom they recruited last year.
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Section E Financial review
Brief statement of the charity’s policy on reserves
The CIO aims to distribute income from the portfolio and draw upon capital only under exceptional circumstances.
Details of any funds materially in deficit
None
Further financial review details (Optional information)
You may choose to include additional information, where relevant about:
The sole source of capital funding is via donations from the Garratt Family.
-
These are invested in a diversified portfolio that generates income for distribution.
-
the charity’s principal sources of funds (including any fundraising);
-
how expenditure has supported the key objectives of the charity;
-
investment policy and objectives including any ethical investment policy adopted.
Section F Other optional information
Section G Declaration
The trustees declare that they have approved the trustees’ report above. Signed on behalf of the charity’s trustees
Signature(s)
Full name(s) Peter Garratt OBE Position (eg Secretary, Chair, Chair etc) Date 27/12/23
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| Garratt Family Trust | Garratt Family Trust | 1178292 | |
|---|---|---|---|
| Receipts andpayments accounts | |||
| For the period from |
4/1/2022 | To | 3/31/2023 |
payments accounts CC16a 4/1/2022 3/31/2023 To
Section A Receipts and payments
| A1 Receipts Transfers from investmentportfolio 24,000 - - - - - - - 24,000 - - Sub total - Total receipts 24,000 A3 Payments Jamie's Farm 18,000 Spartans 2,000 Maldon Pioneers 4,000 - - - - Sub total 24,000 - - Sub total - Total payments 24,000 Net of receipts/(payments) - A5 Transfers between funds - A6 Cash funds last year end 5,000 Cash funds this year end 5,000 Unrestricted funds to the nearest £ Sub total(Gross income for AR) A2 Asset and investment sales, (see table). A4 Asset and investment purchases, (see table) |
to the nearest £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Restricted funds |
to the nearest £ Endowment funds |
Total funds to the nearest £ 24,000 - - - - - - 24,000 - - - 24,000 18,000 2,000 4,000 - - - - 24,000 - - - 24,000 - - 5,000 |
Last year to the nearest £ |
|---|---|---|---|---|
| - | 24,000 | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | 24,000 | |||
| - | ||||
| - | - | |||
| - | - | |||
| - | 24,000 | |||
| - | 16,000 | |||
| - | 4,000 | |||
| - | 4,000 | |||
| - | ||||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | 24,000 | |||
| - | ||||
| - | ||||
| - | - | |||
| - | 24,000 | |||
| - | - | - | ||
| - | - | - | ||
| - | - | 5,000 | ||
| - | - | 5,000 |
Section B Statement of assets and liabilities at the end of the period
| Categories B1 Cash funds B2 Other monetary assets B3 Investment assets B5 Liabilities B4 Assets retained for the charity’s own use Signed by one or two trustees on behalf of all the trustees |
Details Cater Allen Bank Account Details Details CIO Investment portfolio (approx) Details Details Signature Total cash funds (agree balances with receipts and payments account(s)) |
to nearest £ to nearest £ 5,000 - - - - - 5,000 - OK OK to nearest £ to nearest £ - - - - - - - - - - - - Cost (optional) - - - - - Cost (optional) - - - - - - - - - - - - - - Print Name Peter Garratt Unrestricted funds Restricted funds Unrestricted funds Restricted funds Fund to which asset belongs Fund to which asset belongs Fund to which liability relates Amount due (optional) |
to nearest £ Endowment funds |
|---|---|---|---|
| - | |||
| - | |||
| - | |||
| - | |||
| OK | |||
| to nearest £ Endowment funds |
|||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| Current value (optional) |
|||
| 534,000 | |||
| - | |||
| - | |||
| - | |||
| - | |||
| Current value (optional) |
|||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| When due (optional) |
|||
| Date of approval |
|||
| Peter Garratt | 12/27/2023 | ||