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
SoUrS 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
**----- End of picture text -----**
```
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
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```
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
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```
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
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```
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
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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
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THE SALLY ODELL CHARITABLE TRUST
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```
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
```