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2023-12-31-accounts

SORPreferenre
Summary ofthe purposesof Para 1.17
the charity as set out in ts
goverming document		 The charity is a
non-proft-making
body
whose objectives are to promote safety
within the community in the historic port
and
fshing
town		 of
Kinsale,
County
Cork, Ireland (including the surrounding
coastal
areas)
for		 public beneft and
future generations.
Summary of the main
activities in relation to those		 Para 1.17 and
1.19		 Donation to the RNLI to help
Kinsale Lifeboat.		 fund the
purposes for the public
beneft, in particular, the
activities, projects or
services dentifed in the
accounts.
Staternent confming Para 1.18 The trustees have had regard to the
whether the trustees have guidance issued by the Charity
had regard to the guidance Commission on public beneft.
issued by the Charity
Commission on public
beneft

Achievements against Para 1.41
objectives set
Performance of fundraising
activities against objectives		 Para 1.41
set
Investment performance Para 1.41
against objectives
Other

Financial Review
Review of the charity's Para1.21 The charlty has Investedfunds, which
fnancial position at the end have decreased in value.
oftheperiod
Statement explaining the Para 1.22 The Trustintendstoretaintheoriginal
policy for holding reserves capital (£800,000) in order that it may
stating why they are held provide regular grants to promote safety
within the community in the historic port
and fshing town of Kinsale, County
Cork,Ireland
Amount of reserves held Para 1.22 £833,267
Reasons for holding zero Para1.22
reserves
Details of fund materially in Para 1.24
defcit
Explanation of any Para1.23
uncertainties about the
charity continuing as a going
Concern

Description of charity's
trusts:
Type of governing document Para1.25 Trust deed
(trust deed, royalcharter)
How is the charity
constituted?
sb
(		 f
J		 Para1.25
bi		 A Trust has been implemented with 3
trustees.
(e.g unincorporated
association, CIO)
Trustee selection methods Para 1.25 Apart from the frst
charity trustees,
including details of any every
trustee
must be		 appointed
for a
constitutional provisions e.g.
election to post or name of
any perSon or body entitled
to appoint one or more		 term,
of
three
years
by
a
resolution
passed at a properly convened meeting
ofthecharitytrustees.
b;sl t
trustees In selecting individuals for appointment
as charity trustees, the charity trustees
must
have
regards		 to
the
skills,
knowledge and experience needed for
the effective administration of the CIO.

Charityname The SallyOdellCharitableTrust
Othernamethecharityuses NIA
Registeredcharitynumber 1180054
Charity's principal address CIO 43 Haymakers Lane
Ashford
Kent
TN23 4GL

Trustee name Datesactedif notforwholeyear
None
Funds held as custodian trustees on behalf of others
Description of the assets
held in this capacity
Name and objects of the
charity on whose behalf the
assets are held and how this		 yts t) sho
falls within the custodian
charity's objects 99j2u1T
Details of arrangements for
safe custody and 99120T e1ecns dals
segregation of such assets
from the charity's own
assets

Type of Name Address
adviser 

REGISTERED CHARITY NUMBER: 1180054

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

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 2023

----- 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 2023

Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyear ended
31December2023.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

ThecharityhaspreviouslymadeadonationtotheRNLItohelpfundtheKinsaleLifeboat.Therehave not
been any donations this year.

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 A R Stratford
Ms S Clark

Page 1

THE SALLY ODELL CHARITABLE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

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 16 August 2024 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 2023.

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

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

19 August 2024

Page 3

THE SALLY ODELL CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

2023
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Investment income
2
15,764
EXPENDITURE ON
Charitable activities
Donations
20,000
Other
10,871
Total
30,871
Net gains/(losses) on investments
55,840
NET INCOME/(EXPENDITURE)
40,733
RECONCILIATION OF FUNDS
Total funds brought forward
792,534
TOTAL FUNDS CARRIED FORWARD
833,267		 2022
Total
funds
£
2,614
-
6,380
6,380
(98,604)
(102,370)
894,904
792,534		 
The notes form part of these financial statements

Page 4

THE SALLY ODELL CHARITABLE TRUST

BALANCE SHEET 31 DECEMBER 2023

Notes
FIXED ASSETS
Investments
7
CURRENT ASSETS
Cash at bank
CREDITORS
Amounts falling due within one year
8
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
9
Unrestricted funds
TOTAL FUNDS		 2023
Unrestricted
fund
£
833,139
1,494
(1,366)
128
833,267
833,267
833,267
833,267		 2022
Total
funds
£
771,270
22,504
(1,240)
21,264
792,534
792,534
792,534
792,534		 
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon16August 2024
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 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsin accordance
withtheFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102) (effective
1January2019)',FinancialReportingStandard102'TheFinancialReportingStandardapplicable in
theUKandRepublicofIreland'andtheCharitiesAct2011.Thefinancialstatementshave been
preparedunderthehistoricalcostconvention,withtheexceptionofinvestmentswhichareincluded at
market value, as modified by the revaluation of certain assets.

Income

AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementto 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 2023

2. INVESTMENT INCOME

Fixed asset investment income
3.
GRANTS PAYABLE
Donations
The total grants paid to institutions during the year was as
follows:
Royal National Lifeboat Institution		 2023
£
15,764
2023
£
20,000
2023
£
20,000		 2022
£
2,614
2022
£
-
2022
£
-

4. TRUSTEES' REMUNERATION AND BENEFITS

Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2023nor for
the year ended 31 December 2022.

Trustees' expenses

Therewerenotrustees'expensespaidfortheyearended31December2023norfortheyear ended
31 December 2022.

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Investment income 2,614
EXPENDITURE ON
Other 6,380
Net gains/(losses) on investments (98,604)
NET INCOME/(EXPENDITURE) (102,370)
RECONCILIATION OF FUNDS
Total funds brought forward 894,904
TOTAL FUNDS CARRIED FORWARD 792,534 
continued...

Page 7

THE SALLY ODELL CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. INDEPENDENT EXAMINERS FEES

Theindependentexaminer'sremunerationrepresentsthefeeforexaminationoftheaccountsof £930
(2022: £864).

7. FIXED ASSET INVESTMENTS

Unlisted
investments
£
MARKET VALUE
At 1 January 2023
760,345
Additions
25,122
Disposals
(21,749)
Revaluations
54,231
At 31 December 2023
817,949
NET BOOK VALUE
At 31 December 2023
817,949
At 31 December 2022
760,345		 Cash and
settlements
pending
£
10,925
4,265
-
-
15,190
15,190
10,925		 Totals
£
771,270
29,387
(21,749)
54,231
833,139
833,139
771,270		 
There were no investment assets outside the UK.

The cost of portfolio investments is £775,825 as at the balance sheet date.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other creditors
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS		 At 1/1/23
£
792,534
792,534		 2023
£
1,366
Net
movement
in funds
£
40,733
40,733		 2022
£
1,240
At
31/12/23
£
833,267
833,267

9. MOVEMENT IN FUNDS

continued...

Page 8

THE SALLY ODELL CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

9. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
15,764
15,764		 Resources
expended
£
(30,871)
(30,871)		 Gains and
Movement
losses
in funds
£
£
55,840
40,733
55,840
40,733

Comparatives for movement in funds

Unrestricted funds
General fund
TOTAL FUNDS		 At 1/1/22
£
894,904

894,904
 Net
movement
in funds
£
(102,370)
(102,370)		 At
31/12/22
£
792,534
792,534		 
Comparative net movement in funds, included in the above are as follows:
Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Unrestricted funds
General fund 2,614 (6,380) (98,604) (102,370)
TOTAL FUNDS 2,614 (6,380) (98,604) (102,370) 
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
TOTAL FUNDS		 At 1/1/22
£
894,904
894,904		 Net
movement
in funds
£
(61,637)
(61,637)		 At
31/12/23
£
833,267
833,267		 
continued...

Page 9

THE SALLY ODELL CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

9. MOVEMENT IN FUNDS - continued

Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedin the
above are as follows:
Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Unrestricted funds
General fund 18,378 (37,251) (42,764) (61,637)
TOTAL FUNDS 18,378 (37,251) (42,764) (61,637)

10. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2023.

Page 10