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2020-12-31-accounts

CHARITY COMMISSION FOR ENGLAND AND WALES Trustees, Annual Report for the period From 18t January 2020 Period start date To 311t December 2020 Period end date. Charity name: The Sally Odell Charitsble Trust Charity registration number: 1180054 Objectives and Activities -qnRP rp.fprp.nr&. Summary of the purposes of the charity as set out in its gov8ming document Para 1.17 The charity is a non-profit-maklng body whose objectives are to promote safety within the community in the historic port and fishing lown of Kinsale, County Cork, Ireland (including th¢ Surrounding coastal areas) for public benefit and future generations. Summary ol the main activities in relation to those purposes for the public benefit, in particular, the activities. projects or services identified in the accounts. Statement confirming whether the trustees have had regard to the guidan issued by the Charity Commission on public benefit para 1.17 ana 7.19 Donation to the RNLI to help fund the Kinsale Lifeboat. Pdld 1.18 The trustees have naa regard to the guidance issued by the Charity Commission on publlc benefiL Additional infomiation {optional) You ma ¢hoosc to in¢ludc furthcr statcmcnts whcrc rclcvant about: SORP feference para 1.36 Pollcy on granl maklng Para 1.38 Policy on social investment including program related investment

Contribution made by volunteers Paro 1.38 Other Achievements and Performance SORP reference The Charlty made a donation to the RNLI of £15,000 towards the upkeep of the Lifeboat in Kinsale. Summary of the main achievements of the charity, identifying the difference the charity's work has made to Ili¥ LiiGurTlbt<]nces of its beneficiaries and any wider benefits to society as a whole. Para 1.20 Additional information loptionall You ma choose lo include further statements where relevant about.. Achievements against objectives set Para 1.41 Performance of fundraiging actlvltles agalnst objectives set Para 1.41 Investment perfomiance against objeGtives Para 1.41 Other

Financial Review Review of the charity s financial position at the end of the riod Statement explaining the policy for holding reserves stating why they are held Para 1.21 The charity has Invested funds, which have increased in value. The Grant was made from these investment ains. The Trust intends to retain the original capital in order that it may provide regular grants to promote safety within the community in the historic port and fishing town of Kinsale, County CorK Ireland £907 758 Para 1.22 Amount of reseNes held Reasons for holding zero reserves Details of fund materially in deficit Explanation of any uncertainlies about the ¢harity Gontinuing as a going concem Parn 1.22 Parn 1.22 Para 1.24 Para 1.23 Additional information (optional) You ma choose to include further staternent5 where relevanl aboul.. The charity's principal SoUr￿S of funds (including any fundraising) Para 1.47 Investment policy and objectives including any soclal Investment pollcy adopted Pora 1.46 A description of the principal risks facing the chanty Para 1.46 Other

Structure, GovernanGe and Management Description of charity's trusts.. Type of governing document pafa i.z5 Trust deed How is the charity constituted? le.9 unincoiporaled association. CIO Trustee selection methods inclLJdino dpt2ils of any constitutional provisions e.g. election lo post or name of any person or body entitled to appoint ono or mor• Irustees Par8 1.25 A Trust has been implemented with 3 trustees. Para 1.25 Apart from the first charity trustees. every tru5tEe must be appDinted for term of three years by a resolution passed at a properly convened meeting of th• charity trustees. In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the 3killa, knowledgo and experience needed for the effective administration of the CIO. Additional information (optional) You ma choose to include further s1218mp.ntq whprp rplgvAnt 2hniJt' Policies and procedures adopted for the induction and tralnlng of trustees Para 1.51 The charity's organisational structure and any wider network with which the Llidrily wt)Ikt4 Para 1.51 Relationship with any related parties Para 1.51 Other

Reference and Administrative detalls Charit name Other name the charit uses istered charil number Charity's principal address The Sall Odell Charitable Trust NIA 1180054 CIO 43 Haymakers Lane Ashford Kent TN23 4GL Names of the charity trustees who manage the charity Name of person lor body) entitjed lo appoint Trustse name Office Ilf any) Dats8 acted If not for wholè yèar trustee ifan Ursula Harris Alison Stratford Ralph SanderB 10 12 13 14 15 16 17 18 19 20 Cor orate trustees - names of the directors at the date the rc Director name ortwasa rovcd None

Name of trustees holdlng title to property belonglng to Ihe charlty Tru8t•• nam• None Dat88 act•d If not for whole 9or Funds held as custodian trustees on behalf of others Description of Ihe assets held in this capacity Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity's objects Deialls of arrangements for safe custody and segregation of such assets from the charity's own assets Additional information {optional) Names and addresses of advisers (Optional infomiation) Type of Name Address adviser Name of chief exeGUtive or names of aenior staff members (Optional infomiation) Exemptions from disclosure Reason for non4isclosure of ke ersonn81 details

other o tional infonnation Declarations The trustees declare that they have approved the trustees. report above. Signed on behalf of the charity's truslees Signaturels) Full name(s1 Position (eg Secreta Chair, etc) AaiAéanders Trustee Date 26th October 2021

REGISTERED CHARITY NUMBER: 1180054

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

THE SALLY ODELL CHARITABLE TRUST

Gibbons Mannington & Phipps LLP
Chartered Accountants

82 High Street
Tenterden
Kent
TN30 6JG

THE SALLY ODELL CHARITABLE TRUST

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

----- Start of picture text -----
Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to the Financial Statements 6 to 10
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THE SALLY ODELL CHARITABLE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyear ended
31December2020.ThetrusteeshaveadoptedtheprovisionsofAccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewith the
FinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective1 January
2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

Thecharityisanon-profitmakingbodywhoseobjectivesaretopromotesafetywithinthecommunityin the
historicportandfishingtownofKinsale,CountyCork,Ireland(includingthesurroundingcoastalareas) for
public benefit and future generations.

Significant activities

The charity has made a donation to the RNLI to help fund the Kinsale Lifeboat.

Public benefit

ThetrusteeshavetakennoticetotheguidanceissuedbytheCharityCommissionwithregardto public
benefit.

FINANCIAL REVIEW

Reserves policy

Thetrusteesintendtoretaintheoriginalcapitalinorderthatitmayprovideregulargrantstopromote safety
within the community in the historic port and fishing town of Kinsale, County Cork, Ireland.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Thecharityiscontrolledbyitsgoverningdocument,adeedoftrustandconstitutesan unincorporated
charity.

Charity constitution

A trust has been implemented with three trustees.

Recruitment and appointment of new trustees

Apartfromthefirstcharitytrustees,everytrusteemustbeappointedforatermofthreeyearsby a
resolution passed at a properly convened meeting of the charity trustees.

Inselectingindividualsforappointmentascharitytrustees,thecharitytrusteesmusthaveregardto the
skills, knowledge and experience needed for the effective administration of the Trust.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number

1180054

Principal address

43 Haymakers Lane
Ashford
Kent
TN23 4GL

Trustees

R J Sanders ACSI DipPFS
Ms U M Harris
Ms A R Stratford

Page 1

THE SALLY ODELL CHARITABLE TRUST

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2020

REFERENCE AND ADMINISTRATIVE DETAILS

Independent Examiner

Gibbons Mannington & Phipps LLP
Chartered Accountants
82 High Street
Tenterden
Kent
TN30 6JG

Approved by order of the board of trustees on 26 October 2021 and signed on its behalf by:

R J Sanders ACSI DipPFS - Trustee

Page 2

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE SALLY ODELL CHARITABLE TRUST

Independent examiner's report to the trustees of The Sally Odell Charitable Trust

IreporttothecharitytrusteesonmyexaminationoftheaccountsofTheSallyOdellCharitableTrust (the
Trust) for the year ended 31 December 2020.

Responsibilities and basis of report

AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsin accordance
with the requirements of the Charities Act 2011 ('the Act').

IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutundersection145oftheActand in
carryingoutmyexaminationIhavefollowedallapplicableDirectionsgivenbytheCharityCommission under
section 145(5)(b) of the Act.

Independent examiner's statement

Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattention 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. 

Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which
attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be
reached.

Samantha Whiting
ICAEW
Gibbons Mannington & Phipps LLP
Chartered Accountants
82 High Street
Tenterden
Kent
TN30 6JG

26 October 2021

Page 3

THE SALLY ODELL CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

Period
25/9/18
Year Ended to
31/12/20 31/12/19
Unrestricted Total
fund funds
as restated
Notes £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies - 820,000
Investment income 2 9,119 9,815
Total 9,119 829,815
EXPENDITURE ON
Charitable activities
Donations 15,000 21,000
Other 6,115 13,707
Total 21,115 34,707
Net gains on investments 68,111 56,535
NET INCOME 56,115 851,643
RECONCILIATION OF FUNDS
Total funds brought forward 851,643 -
TOTAL FUNDS CARRIED FORWARD 907,758 851,643 
The notes form part of these financial statements

Page 4

THE SALLY ODELL CHARITABLE TRUST

BALANCE SHEET 31 DECEMBER 2020

Notes
FIXED ASSETS
Investments
8
CURRENT ASSETS
Cash at bank
CREDITORS
Amounts falling due within one year
9
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
10
Unrestricted funds
TOTAL FUNDS		 2020
Unrestricted
fund
£
907,581
1,417
(1,240)
177
907,758
907,758
907,758
907,758		 2019
Total
funds
as restated
£
845,350
6,693
(400)
6,293
851,643
851,643
851,643
851,643		 
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
26 October 2021 and were signed on its behalf by:

R J Sanders ACSI DipPFS - Trustee

The notes form part of these financial statements

Page 5

THE SALLY ODELL CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsin accordance
withtheFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS 102)
(effective1January2019)',FinancialReportingStandard102'TheFinancialReporting Standard
applicableintheUKandRepublicofIreland'andtheCharitiesAct2011.Thefinancial statements
havebeenpreparedunderthehistoricalcostconvention,withtheexceptionofinvestmentswhich are
included at market value, as modified by the revaluation of certain assets.

Income

AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlement to
the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswill be
requiredinsettlementandtheamountoftheobligationcanbemeasuredreliably.Expenditure is
accountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregateall cost
relatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingsthey have
been allocated to activities on a basis consistent with the use of resources.
Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedas a
commitment but not accrued as expenditure.

Investments

Listedinvestmentsareincludedatmarketvalueattheyearend.Gainsandlossesondisposal and
revaluation of investments are charged or credited to the Statement of Financial Activities.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretionof the
trustees.

Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedforparticular restricted
purposes.

Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.

There are currently no restricted funds.

Financial instruments

Thecharityonlyhasfinancialassetsandfinancialliabilitiesofakindthatqualifyasbasic financial
instruments.Basicfinancialinstrumentsareinitiallyrecognisedattransactionvalueand subsequently
measuredattheirsettlementvaluewiththeexceptionofbankloanswhichare subsequently
measured at amortised cost using the effective interest method.

continued...

Page 6

THE SALLY ODELL CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

2. INVESTMENT INCOME

2. INVESTMENT INCOME
Period
25/9/18
Year Ended to
31/12/20 31/12/19
as
restated
£ £
Fixed asset investment income 9,119 9,815
3. GRANTS PAYABLE
Period
25/9/18
Year Ended to
31/12/20 31/12/19
as
restated
£ £
Donations 15,000 21,000
The total grants paid to institutions during the year was as
follows:
Period
25/9/18
Year Ended to
31/12/20 31/12/19
as
restated
£ £
Royal National Lifeboat Institution 15,000 21,000

4. TRUSTEES' REMUNERATION AND BENEFITS

Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2020nor for
the period ended 31 December 2019.

Trustees' expenses

Therewerenotrustees'expensespaidfortheyearended31December2020norforthe period
ended 31 December 2019.

continued...

Page 7

THE SALLY ODELL CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2020

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
fund
as restated
£
INCOME AND ENDOWMENTS FROM
Donations and legacies 820,000
Investment income 9,815
Total 829,815
EXPENDITURE ON
Charitable activities
Donations 21,000
Other 13,707
Total 34,707
Net gains on investments 56,535
NET INCOME 851,643
TOTAL FUNDS CARRIED FORWARD 851,643

6. PRIOR YEAR ADJUSTMENT

Thecomparativefigureshavebeenrestatedtogrossuptheincomeontheaccumulation investment
fund.

7. INDEPENDENT EXAMINERS FEES

Theindependentexaminer'sremunerationrepresentsthefeeforexaminationoftheaccountsof £840
(2019: £400).

8. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
Unlisted
investments
£
MARKET VALUE
At 1 January 2020 845,350
Additions 9,120
Disposals (14,961)
Revaluations 68,072
At 31 December 2020 907,581
NET BOOK VALUE
At 31 December 2020 907,581
At 31 December 2019 845,350 
continued...

Page 8

THE SALLY ODELL CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2020

8. FIXED ASSET INVESTMENTS - continued

There were no investment assets outside the UK.

The portfolio cost a total of £784,716 as at the balance sheet date.

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other creditors
10.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above
Unrestricted funds
General fund
TOTAL FUNDS		 At 1/1/20
£
851,643
851,643
are as follows:
Incoming
Resources
resources
expended
£
£
9,119
(21,115)
9,119
(21,115)		 2020
£
1,240
Net
movement
in funds
£
56,115
56,115
Gains and
losses
£
68,111
68,111		 2019
as
restated
£
400
At
31/12/20
£
907,758
907,758
Movement
in funds
£
56,115
56,115

Comparatives for movement in funds

Unrestricted funds
General fund
TOTAL FUNDS		 Net
movement
in funds
£
851,643
851,643		 At
31/12/19
£
851,643
851,643		 
continued...

Page 9

THE SALLY ODELL CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2020

10. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
829,815
829,815		 Resources
expended
£
(34,707)
(34,707)		 Gains and
Movement
losses
in funds
£
£
56,535
851,643
56,535
851,643

11. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2020.

Page 10