2023-04-05-accounts

THE MARK NICKERSON CHARITABLE SETTLEMENT

Registered Charity No. 1180831

ACCOUNTS FOR THE YEAR ENDED

5 APRIL 2023

THE MARK NICKERSON CHARITABLE SETTLEMENT FINANCIAL STATEMENTS 5 APRIL 2023

Contents	Page
Trust Information	1
Trustees' Annual Report	2
Independent Examiner's Report	3
Statement of Financial Activities	4
Statement of Assets and Liabilities	5
Notes to the financial statements	6

THE MARK NICKERSON CHARITABLE SETTLEMENT FINANCIAL STATEMENTS 5 APRIL 2023

TRUSTEES

Elizabeth Nickerson Emma Nickerson Caroline Nickerson

PRINCIPAL OFFICE

7 Quy Court Stow-Cum-Quy Cambridge CB25 9AU

INVESTMENT MANAGERS

Investec Wealth & Investment Limited 30 Gresham Street London EC2V 7QN

BANKERS

Handelsbank The Octagon 27 Middleborough Colchester CO1 1TG

INDEPENDENT EXAMINER

Paul Chubbock FCCA Chater Allan LLP 7 Quy Court Stow-Cum-Quy Cambridge CB25 9AU

CHARITY NUMBER

1180831

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THE MARK NICKERSON CHARITABLE SETTLEMENT REPORT OF THE TRUSTEES 5 APRIL 2023

The Trustees are pleased to present their annual report and financial statements for the year ended 5 April 2023, which have been prepared in accordance with the Trust Deed and accounting policies set out in note 1 and comply with the Charities Act 2011 and Statements of Recommended Practice applicable to charities.

Structure, Governance and Management

The Charitable Settlement was established by Mark Nickerson and Elizabeth Nickerson and is governed by a Settlement Deed dated 11 July 1986. The Settlement is registered as a charity with the Charities Commission. The Trustees are appointed according to the Trust Deed and meet to decide on the annual donations awarded. The Trustees are responsible for the preparation of the annual financial statements ensuring the Trust maintains proper accounting records. They are also responsible for safeguarding the assets of the Trust and thereby taking reasonable steps to ensure the prevention and detection of fraud and irregularities.

Objectives and Activities

The Charity’s Objects under Clause 3 of the Settlement Deed is to benefit such charitable objects as the Trustees, in their absolute discretion, decide. The Trustees may distribute income or capital of the Settlement.

Achievements and Performance

The Trustees awarded donations of £34,400 in the year.

Financial Review

The Settlement funds its expenditure by income from investment returns. The Trustees report a deficit of £29,309 over the running costs and donations made in the year. There are unrestricted reserves to carry forward of £265,539. Investments are held with Investec Wealth & Investment Limited and invested in a diverse portfolio.

Reserves Policy

The Trustees anticipate that the donation levels will be maintained and may gradually increase with the reserves over time but any decrease in income will lead to a reduction in donations. The Trustees are aware that the policy recommended by the Charity Commission suggests a reserve based on three months turnover and it is the Trustees' policy to continue to keep the reserves above this level.

Public benefit

The Trustees confirm they have given due consideration to the Charity Commission guidance on public benefit.

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THE MARK NICKERSON CHARITABLE SETTLEMENT INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES

I report to the charity trustees on my examination of the accounts of the charity for the year ended 5 April 2023.

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; 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.

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.

Paul Chubbock FCCA Chater Allan LLP Chartered Accountants & Statutory Auditors 7 Quy Court Stow-Cum-Quy Cambridge CB25 9AU

Date: 31 July 2023

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THE MARK NICKERSON CHARITABLE SETTLEMENT ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2023 STATEMENT OF FINANCIAL ACTIVITIES

Income: Donations Investment income Expenditure: Charitable Activities Accountancy Investment management charges Donations Net gains/(losses) on investments Net movement in funds Total funds brought forward Total funds carried forward	2023 Unrestricted funds £ 24,965 6,540 31,505 1,080 2,282 34,400 37,762 (23,052) (23,052) (29,309) 294,848 265,539	2022 Unrestricted funds £ 16,020 5,049
		21,069 732 2,590 37,400
		40,722 2,342
		2,342
		(17,311) 312,159
		294,848

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THE MARK NICKERSON CHARITABLE SETTLEMENT STATEMENT OF ASSETS AND LIABILITIES 5 APRIL 2023 2023 £	2022 £
INVESTMENT ASSETS Brought forward 241,832 Additions 54,766 Disposals (40,971) At cost 255,627 Revaluation surplus/(deficit) (1,638) At market value 253,989 CASH FUNDS Cash at bank 12,749 CREDITORS - amounts falling due within one year Accruals (1,200) 265,539 REPRESENTED BY Unrestricted funds 265,539 Approved by the Trustees on 29 July 2023 …………………………………………………. Trustee Elizabeth Nickerson …………………………………………………. Trustee Emma Nickerson …………………………………………………. Trustee Caroline Nickerson	266,318 37,960 (62,446)
	241,832 23,430
	265,262 30,786 (1,200)
	294,848
	294,848

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