##
##
##
||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
```