Trustees’ Annual Report for the period
From 01.04.2022 Period start date To 31.03.2023 Period end date
Charity name: The Reid Trust
Charity registration number: 1180357
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | Founded in 1868, the Reid Trust was established to improve and promote the education of women in the United Kingdom. The Trust continues this mission in the very different educational environment of the twenty-first century by supporting women who have been educated in the UK at secondary or tertiary level, or both, and who wish to pursue higher education, training, or research at an appropriate educational institution in the UK. Applicants do not need to have been born in the UK. |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
The trustees invite applicants to submit applications for awards from the Trust usually once every two years via the online form on our website (https://www.thereidtrust.co.uk ). These awards support the education or training, usually at postgraduate level, of the successful applicants. Typically, the awards are used to cover or contribute to a variety of expenses incurred as a consequence of study or training: e.g., course fees, travel costs within the UK, childcare or other care provision. The deadline for submission is set at the end of May. In the following July, trustees meet to discuss the applications and decide on the disbursal of individual awards of between £250 and £1500. |
| Statement confirming | Para 1.18 | The trustees’regard to the Charity |
| whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Commission guidance on public benefit is evident in their work to further the purpose of the Trust by the regular distribution of awards. Trustees are responsible for reading all applications, references, and any other material pertaining to individual applications. At the July awards’ meeting, trustees discuss and agree their evaluation of the submissions, taking into consideration the quality of the application, the strength of supporting references, and the circumstances of the individual applicant. In addition, trustees use the website to promote awareness of the activities of the Trust and explain candidate eligibility. They have simplified the application process with the development of an online application system. |
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Additional information (optional) You may choose to include further statements where relevant about: SORP reference Para 1.38 Policy on grant making Para 1.38 Policy on social investment including program related investment Para 1.38 Contribution made by volunteers Other
Achievements and Performance
| SORP reference | ||
|---|---|---|
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | The Trust distributes awards of between £250 and £1500 usually every two years. Currently our investment income, which funds the awards, is sufficient to meet the financial demands of a two-year, rather than a one-year, cycle. The awards help beneficiaries to advance their academic and/or professional careers. In recent years the Trust has supported awardees enrolled on diplomas and other professional courses (e.g., Education, Therapeutic Counselling, Professional Voice Studies) and at different levels of postgraduate study (e.g., DPhil, PhD, MA, MFA, MMus, MPhil, MPP, MRes, MSc, MSt, Veterinary Science Accelerated Graduate Entry). As regards the benefit to society as a whole, the Trust’s awardees include those who have pursued, or who are pursuing, fields of study that impact directly on society, such as Public Health, Global Maternal Health, Speech and Language Therapy, Systemic Psychotherapy, Art Therapy, Building Surveying, Environmental Policy and Regulation, Wildlife Biology, Conservation in Stone, Wood and Decorative Surfaces, and the Social Science of the Internet. |
Additional information (optional) You may choose to include further statements where relevant about:
Achievements against objectives set |
Para 1.41 |
|
|---|---|---|
| Performance of fundraising activities against objectives set |
Para 1.41 | |
| Investment performance against objectives |
Para 1.41 |
other
Financial Review
| Financial Review | ||
|---|---|---|
| Review of the charity’s financial position at the end of the period |
Para 1.21 | In the period under review the Trust received £10,395 from its investments held by the CCLA. This money was paid into the Trust’s account at the NatWest. |
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | The reserves held by the Trust in the NatWest account accumulate to fund the awards that are disbursed usually every two years. The reserves held in the period under review contributed to the awards distributed in the following financial year. |
| Amount of reserves held | Para 1.22 | £18,160 |
| Reasons for holding zero reserves |
Para 1.22 | Not applicable. |
| Details of fund materially in deficit |
Para 1.24 | Not applicable. Our fund is not in deficit. |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | Not applicable. |
Additional information (optional)
You may choose to include further statements where relevant about:
The charity’s principal sources of funds (including any fundraising) |
Para 1.47 |
The Trust’s sole source of funding is the income from the investments held by the CCLA, the UK’s largest charity fund manager and a pioneer in ethical and responsible investment. The income is used to realise the key objective of the Trust, namely the disbursal of awards to further the education of women. In addition, a small amount of money from income covers the Trust’s administrative expenditure (in the period under report this amounted to £20). |
|---|---|---|
| Investment policy and objectives including any social investment policy adopted |
Para 1.46 | |
| A description of the principal risks facing the charity |
Para 1.46 | |
| Other |
Structure, Governance and Management
| Description of charity’s trusts: |
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|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 | Trust Deed |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | Charitable Incorporated Organisation |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | There are no specific constitutional provisions concerning the appointment of trustees, all of whom are unpaid volunteers. New trustees join the board by invitation based on their professional interests, experience, and expertise. |
Additional information (optional)
You may choose to include further statements where relevant about:
| Policies and procedures adopted for the induction and training of trustees |
Para 1.51 | |
|---|---|---|
| The charity’s organisational structure and any wider network with which the charity works |
Para 1.51 | |
| Relationship with any related parties |
Para 1.51 | |
| Other |
Reference and Administrative details
| Charity name | The Reid Trust |
|---|---|
| Other name the charity uses | The Reid Trust for the Higher Education of Women |
| Registered charity number | 1180357 |
| Charity’s principal address | 6 Rolle Villas Exmouth EX8 2AE |
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) |
|---|---|---|---|---|
| Frances Blackmore | ||||
| Grace Davie | ||||
| Elaine Davies | ||||
| Jennifer Ellis | ||||
| Katherine McDonald |
Treasurer | |||
| Joanna Mimmack | Secretary | |||
| Charlotte Payne | Web Secretary | |||
| Sara Smart | Chair | |||
– Corporate trustees names of the directors at the date the report was approved Director name
Name of trustees holding title to property belonging to the charity
Trustee name Dates acted if not for whole year
Funds held as custodian trustees on behalf of others
Description of the assets Not applicable. held in this capacity
Name and objects of the Not applicable. charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for Not applicable. safe custody and segregation of such assets from the charity’s own assets
Additional information (optional)
Names and addresses of advisers (Optional information)
Type of Name Address adviser
Name of chief executive or names of senior staff members (Optional information)
Exemptions from disclosure
Reason for non-disclosure of key personnel details
Other optional information
Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
Signature(s) Full name(s) Sara Catherine Smart
Position (eg Secretary, Chair Chair, etc) Date 22 January 2024
Charity Name No (if any) Receipts and payments accounts CC16a For the period Period start date Period end date To from 4/1/2022 3/31/2023
Section A Receipts and payments
Unrestricted Restricted Endowment funds funds funds
Total funds Last year
| Section A Receipts and payments Unrestricted funds |
Restricted funds |
Endowment funds |
Total funds | Last year |
|---|---|---|---|---|
| A1 Receipts Investment income 10,395 - - - - - - - 10,395 - - Sub total - Total receipts 10,395 A3 Payments Administrative expenditure 20 - - - - - - - - Sub total 20 - - Sub total - Total payments 20 Net of receipts/(payments) 10,375 A5 Transfers between funds - A6 Cash funds last year end 7,785 Cash funds this year end 18,160 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 £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - |
to the nearest £ | to the nearest £ 10,395 - - - - - - - 10,395 - - - 10,395 20 - - - - - - - - 20 - - - 20 10,375 - 7,785 18,160 |
to the nearest £ |
| - - - - - - - - - |
10,395 | - | ||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| 10,395 | - | |||
| - - - |
- | |||
| - | - | |||
| - | - | |||
| - | 10,395 | - | ||
| - - - - - - - - - - |
20 | - | ||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| 20 | - | |||
| - - - |
- | |||
| - | ||||
| - | - | |||
| - | 20 | - | ||
| - | - - - - |
10,375 | - | |
| - | - | - | ||
| - | 7,785 | - | ||
| - | 18,160 | - |
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 Current account0 Details Details COIF Charities Ethical Investment Fund COIF Charities Ethical Investment Fund Details Details Signature Total cash funds (agree balances with receipts and payments account(s)) |
to nearest £ to nearest £ 18,160 - - - - - 18,160 - OK OK to nearest £ to nearest £ - - - - - - - - - - - - Cost (optional) - - - - - Cost (optional) - - - - - - - - - - - - - - Print Name Sara Catherine Smart Unrestricted funds Restricted funds Unrestricted funds Restricted funds Fund to which asset belongs Reid Trust 079980002AA Reid Trust 079980001AA Fund to which asset belongs Fund to which liability relates Amount due (optional) |
to nearest £ Endowment funds |
|---|---|---|---|
| - | |||
| - | |||
| - | |||
| - | |||
| OK | |||
| to nearest £ Endowment funds |
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| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| Current value (optional) |
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| 115,739 | |||
| 4,987 | |||
| - | |||
| - | |||
| - | |||
| Current value (optional) |
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| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| When due (optional) |
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| Date of approval |
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| Sara Catherine Smart | 22.01.24 | ||