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2021-10-16-accounts

2

Trustees' Annual Report for the period

Period start date Period end date Day Month Year Day Month Year From 17 October 2020 To 16 October 2021

Section A Reference and administration details

Charity name The IMP Trust

Other names charity is known by Registered charity number (if any) 1180551

Charity's principal address
Trustee Department
Trustee Department
1stFloor, Tower Wharf
Cheese Lane, Bristol
Postcode BS2 0PT

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		 Trustee name Office (if any) Dates acted if not for whole
**year **		 Name of person (or body) entitled
to appoint trustee (ifany)
Ian Reginald
Permain		 (Settlor)
Maria Permain (Settlor)
Coutts & Co To 05/04/2021
Ludlow Trust
CompanyLimited		 From 06/04/2021

Names of the trustees for the charity, if any, (for example, any custodian trustees)

Name Dates acted if not for whole year

TAR

March 2012

1

Names and addresses of advisers (Optional information)

Names and addresses of advisers (Optional information) Names and addresses of advisers (Optional information) Names and addresses of advisers (Optional information)
Type of adviser
Name
Address
Investment Managers Coutts & Co 440 The Strand, London, WC2R 0QS
Bankers Coutts & Co 440 The Strand, London, WC2R 0QS
Solicitors TLT LLP One Redcliff Street, Bristol BS1 6TP
Independent examiner Geoffrey Frost Blue Spire Limited, Cawley Priory, South Pallant,
Chichester, West Sussex, PO19 1SY

Name of chief executive or names of senior staff members (Optional information)

Section B Structure, governance and management

Description of the charity’s trusts

Type of governing document

Trust deed dated 16 October 2018

How the charity is constituted

Trust

Trustees are appointed the settlors or the survivors of them in their lifetime Trustee selection methods after which time trustees may be appointed by the trustees from time to (eg. appointed by, elected by) time.

Additional governance issues (Optional information)

You may choose to include additional information, where relevant, about:

Section C Objectives and activities

Summary of the objects of the charity set out in its governing document

The Trustees shall hold the capital and income of the Trust Fund upon trust to apply the income, and all or such part or parts of the capital, at such time or times and in such manner to, or for the benefit of such Charities or such exclusively charitable purposes according to the laws of England and Wales in any part of the world as the Trustees may in their discretion think fit.

TAR

March 2012

2

In furtherance of the charity’s objects for the public benefit the trustees shall provide grants. In determining the charity’s activities the trustees have had regard to the Charity Commission’s guidance on public benefit.

Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)

Additional details of objectives and activities (Optional information)

You may choose to include further statements, where relevant, about:

TAR

March 2012

3

Section D Achievements and performance

Summary of the main During the year under review made 6 grants totalling £50,083 to 5 achievements of the charity charitable organisations. during the year

TAR

March 2012

4

Section E Financial review

Brief statement of the

charity’s policy on reserves

At the end of the reporting period the charity had free reserves amounting to £423 (2020: £720).

In addition to the free reserves the charity has cash balances of £60,335 (2020: £200,076) within the expendable endowment fund with £427,034 of investments which can be released to support the activities of the charity.

The Trustees pursue a policy of maintaining a free reserve available to be spent in the furtherance of the charity’s objectives, as well as covering future needs, opportunities, contingencies and risks.

Details of any funds materially in deficit

Further financial review details (Optional information)

You may choose to include additional information, where relevant about:

Section F Other optional information

Section G Declaration

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s)[Joanne Spiceley ] On behalf of Ludlow Trust Company Limited Position (eg Secretary, Chair, etc)

Date 29 July 2022

TAR

March 2012

5

Charity Name No (if any) The IMP Trust 1180551 Receipts and payments accounts CC16a For the period Period start date Period end date To from 17 October 2020 16 October 2021

Section A Receipts and payments Section A Receipts and payments
A1 Receipts Unrestricted
funds
to the nearest £
-
-
3,747
11
-
-
-
-
3,758
-
-
-
3,758
50,083
2,487
-
1,130
780
-
-
-
-
-
54,480
-
-
-
54,480
(50,722)
50,425
720
423		 Restricted funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Endowment
funds
to the nearest £
250,000
62,500
-
-
-
-
-
-
312,500
78,789
-
78,789
391,289
-
-
449
-
-
-
-
-
-
-
449
480,156
-
480,156
480,605
(89,316)
(50,425)
200,076
60,335		 Total funds
to the nearest £
250,000
62,500
3,747
11
-
-
-
-
316,258
78,789
-
78,789
395,047
50,083
2,487
449
1,130
780
-
-
-
-
-
54,929
480,156
-
480,156
535,085
(140,038)		 Last year
to the nearest £
Addition to trust - 100,000
Gift aid received - 25,000
Income from investments 3,747 -
Income from bank interest 11 367
- -
- -
- -
- -
Sub total(Gross income for
AR)		 3,758 125,367
A2 Asset and investment sales,
(see table).
Sale of investments - -
- -
Sub total - -
Total receipts
A3 Payments
125,367
Grants awarded 50,083 45,750
Trust administration 2,487 2,641
Investment management fees - 15
Administrative services 1,130 -
Independent examination 780 -
- -
- -
- -
- -
- -
**Sub total ** 54,480 48,406
A4 Asset and investment
purchases, (see table)
Investmentpurchases - -
-
**Sub total ** - -
Total payments
Net of receipts/(payments)
A5 Transfers between funds
A6 Cash funds last year end
Cash funds this year end
48,406
(50,722) - (89,316) (140,038) 76,961
50,425 - (50,425) - -
720 - 200,076 200,796 123,835
423 - 60,335 60,758 200,796

CCXX R6 accounts (SS)

6

Section B Statement of assets and liabilities at the end of the period

Categories
Signed by one or two trustees on
behalf of all the trustees
B1 Cash funds
B2 Other monetary assets
B3 Investment assets
B4 Assets retained for the
charity’s own use
B5 Liabilities		 (agree balances with receipts and payments
account(s))
Details
Capital account
Reserve account
Income account
Total cash funds
Details
Details
Investment portfolio
Details
Details
Trust administration
Independent examiner
Signature		 Unrestricted
funds
Restricted
funds
to nearest £
to nearest £
-
-
-
-
423
-
423
-
OK
OK
Unrestricted
funds
Restricted
funds
to nearest £
to nearest £
-
-
-
-
-
-
-
-
Fund to which
asset belongs
Cost (optional)
Endowment
-
-
-
-
Fund to which
asset belongs
Cost (optional)
-
-
-
-
-
-
-
-
-
Fund to which
liability relates
Amount due
(optional)
Unrestricted
601
Unrestricted
780
-
-
-
Print Name
Joanne Spiceley
On behaf of Ludlow Trust Company
Limited		 Endowment
funds
to nearest £
60,335
-
-
60,335
OK
Endowment
funds
to nearest £
-
-
-
-
Current value
(optional)
427,034
-
-
-
Current value
(optional)
-
-
-
-
-
-
-
-
-
When due
(optional)
Date of
approval
29 July 2022

CCXX R7 accounts (SS)

7

Section C Notes to the Accounts

Section C Notes to the Accounts Accounts
C2 Grants to institutions
C3 Related party transactions
C1 Nature and purpose of funds(may be
stated on analysis of funds worksheets)		 Unrestricted income funds are available for use at the discretion of the trustees in furtherance of the general
objectives of the charityand which have not been designated for otherpurposes.
Expendable endowment funds are those which are required to be invested to produce income but which may be
transferred to unrestricted funds at the discretion of the trustees in order that they may be expended in furtherance
of the charity's objectives.
Recipient (1 grant and England & Wales unless noted)
Cancer Fund
Global Pearls (AMAL Centre)
Purple Community Fund
Tall Ships Youth Trust
University of Southampton
2 grants		 £
2,000
1,000
3,500
5,000
38,583
50,083
During the period under review Coutts & Co, a trustee of the charity, were paid fees for the provision of
administration and investment management services amounting to £2,656 (2019: £1,518) as authorised under
clause 6.2 of the trust deed.
No trustee received any remuneration nor reimbiursed any expenses in the year under review.

CCXX R8 accounts (SS)

8

Independent Examiner's Report to the Trustees of The IMP Trust

I report to the charity trustees on my examination of the accounts of the charity for the year ended 16 October 2021 as set out on pages 6 to 8.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention 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 charity as required by section 130 of the Act; or 2. the accounts do not accord with those records.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

29 July 2022 Geoffrey Frost BSc(Hons) FCA Date Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY

9