2024-03-31-accounts - Ramm Development Trust

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REGISTERED CHARITY NUMBER: 1181542

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR RAMM DEVELOPMENT TRUST

Trustees, Annual Report for the period Period start dale Period end dale From April 2023 To 31 March 2024 Section A Reference and administration details Charity name RAMM DEVELOPMENT TRUST other names charity is known by Registered charity number {if any) 1181542 Charity's principal address ROYAL ALBERT MEMORIAL MUSEUM QUEEN STREET EXETER Postcode EX4 3RX Names of the charity trustees who manage the charity Dates acted if not for whole ear Name of person lor body) entitled toa oint trustee if an Trustee name Office lif any) Richard Bearne Chair until 30 January 2024 Resigned 30 January 2024 Caroline Fowle Laura McFayden Brana Thorn Cllr Laura Wright Resigned 9 October 2024 Exeter City Council Judilh Yung Derek Phillips Chair from 30 January 2024 Cllr Andrew Leadbetter James Browne Resigned 9 October 2024 Resigned 5 October 2023 Exeter City Council 10 Sharon Austen Howard Noye Cllr Bob Foale Hon Treasurer Appointed 17 April 2024 Appointed 9 October 2024 Appointed 9 October 2024 12 Exeter City Council 13 Cllr Yvonne Atkinson Exeter City Council 14 15 16 17 18 19 20 TAR Marth 2012

Names of the trustees for the charity, if any, (for example, any custodian trustees) Name Dates acted if not for whole ear Names and addresses of advisers {Optional information) e of adviser Name Address Name of chief executive or names of senior staff members {Optional information) Section B Structure, overnance and mana ement Description of the charity's trusts Constitution Type of governing document How the charity is constituted Charitable incorporated organisalion Trustee selection methods Under the constitution the Trust must have between 4 and 8 appointed Trustees and rnay have up lo 2 nominated Trustees. Appointed Trustees are recruited having regard to Ihe skills, knowledge and experience needed for the effective administration of the CIO. Trustees are appointed for a term of 4 years. Exeter City Council ("the Nominating Body") may oint u to two charit trustees. Additional governance issues (Optional infomiation) You may choose to include additional information, where relevant, about.. policies and procedures adopted for the induction and training of trustees., the charity's organisational structure and any wider network with which the charity works., relationship wilh any related parties,. Iruslees, consideration of major risks and the system and procedures to manage them. Section C TAR Ob'ectives and activities M8rch 2012

The object of the Trust is to advance the education of the public by the promotion, support, assistance and improvement of the Royal Albert Memorial Museum including its galleries, displays, collections, amenities and facilities, educational and research activities and community outreach and engagement programmes. Summary of the objects of the charity set out in its governing document The Trustees are appointed to meet this objective by raising and expending funds. In planning the charity's activities, the trustees have kept in mind Ihe Charity Commission's guidance on public benefit at their trustee rneetings. Summary of the main activities undertaken for the public benefil 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) TAR March 2012

You may choose lo include further statemenls, where relevant, about.. policy on grantmaking- policy programme related inveslmenl., ontribution made by volunteers. Section D Achievements and performance TAR Maich 2012

Section D Achievements and performance Summary of the main achievements of the charity during the year The Trust has made a number of grants in the year in support of the objectives, including.. £5,000 match funding for NLHF Dynamic Collections project £4,000 for antiquities £1,750 supporting Dartmoor Frame of Mind £1,000 to SLJPPOrt a classical music concert £3,500 for the acquisition of an Anglo Saxon ring In addition fund raising was undertaken during the period to support Dartmoor.. A Radical Landscape, a major new contemporary art exhibition taking place from October 2024. TAR March 2012

Section E Financial review The Trustees have designated £300,000 of unrestricted reseNes to the RAMM Future Fund to support the long-lerm sustainability of the Museum. Brief statement of the charity's policy on reserves Details of any funds materially in deficit No funds were in deficit. Further financial review details {Optional infomiationl The Trust has established a designated Future Fund and appointed Brewin Dolphin as investment manager. £250,000 was transferred to the investment portfolio and the Trust has adopted an investment strategy, the key elements of which are as follows.. You may choose to include additional information. where relevant about.. the charity's principal sources of funds linGluding any fundraising)., how expenditure has supported the key objectives of the Gharity- investment policy and objectives including any ethical investment policy adopted. 1. The objectives of the RAMM Development Trust in investing its funds The investments are held as a long-term reserve, building up the RAMM Future Fund which looks to improve RAMM'S long- term future sustainability in-line with the RAMM Development Trust's charitable objects and RAMM'S future Business Plans. The RAMM Development Trust's investment objective is to maintain and, if possible, enhance the real value of the reserves represented by its investments while producing an income. The RAMM Development Trust requires an income in order to fulfil its charitable purposes. In order lo meet the objectives and risk profile of The RAMM Development Trust, the Trustees have selected an Investment Objective of 'wanling to grow capital over the investment period to generate long-lerm capital growth and generate a total return ahead of UK inflation from the combination of the generation af income and capital growth,, subject to Risk Category 6 as laid out in Brewin Dolphin's Guide to Investment Risk and Classification document. 2. Asset allocation strategy The RAMM Development Trust's strategic investment policy involve5 a broadly diversified spread of assets in line with Brewin Dolphin's Risk Category 6, including UK and overseas equities, Government and non-government bonds and pooled funds to cover more specialist areas of investment. Specific asset allocation is a function that has been delegated by the Trustees to the investment manager. The investment manager will take into consideration the Trustees, ethical stan, and the RAMM Development Trust's need for liquidity and the risk strategy as identified above. 3. Restrictions and ethical investment policy The following restrictions apply to the portfolio.. toba¢¢o, pornography, gambling. Trustees would like to see a tilt towards Environmcntal, Social and Co orat¢ Gov¢rnaThce ESG investments within th¢ ortfolio. TAR March 2012

As l-njstees, w¢ have considered the future sustainability of our investment portfolio and belicvc it is imwrtant that we invest respon.£ibly to achieve our charity's goals. As stewards of our investments, our investment mallagers Brewin Dolphin take account of & wide range of environmental. social and govcrn8nce factors when assessiiig and selecting investments for our portfolio. Brewin Dolphin engage with companics directly and as members of Icading industry bodies on important issues that could impact the valu¢ ol our holdings. As signatories, they adhere to the UN Principles of Responsible investhient. 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 Signaturels Full name{s) Position leg Secretsry, Chair, etcl Derek Phillips Chair Sharon Austen Hon Treasurer Date TAR March 2012

CHARITY COMMI5510N FOR ENGLAND AND WALES RAMM DEVELOPMENT TRUST 11915A2 Receipts and payments accounts CC16a Forthe period from 0110412023 3110312024 Section A Receipts and pa ments Unre5trict8d lunds to thB nèarast Endowment funds Total fund$ Last year Restricted funds lo Ihè nBar8st£ tothè mar¢6t £ totha n8aT•St £ to the rreSt £ A1 Recei Djnèiions Grants re¢oived Interest received ts 33.223 10,950 4,000 44,173 4,0 49,751 1601 S,394 1,916 632 Inv8sttn8nt Incotn8 S,394 5.37E 894 Sub total(Gross income forAR) 43.134 14.YS0 58,084 $6,653 A2 Asset and Investment sales, see table Share sal&s 66,548 fj6.541 6,839 Sub total 66,548 66,548 6,839 Totslreceipts 109,682 14,950 124.632 63,492 A3Pa ent5 250 250 2,778 194 Govemance Costs 2.300 InvÈsin*nt fe&s Sub total 10,139 10,250 20,389 65.994 A4 Ass8t and investment purchas2$. (see table) Share purchases 70.912 70.912 10.50fj Stsb total 70,912 70,912 10.506 Totalpayments 81,051 10,250 76,490 Net of receiptsl(paym•nts) A5 Transfers between funds A6 Cash funds last year end Gash funds this year end 28,631 4,700 33,331 12,998 134,031 98Q 135,011 148.009 162,662 5,680 168,342 135,011 Section B Statement of assets and liabilities at the end of the period Unrestricted funds RÈstricted funds Endowrnent funds Categories lo n8ar8st£ lo nBargst £ B1 Cash funds Bank 155.524 5,180 sh 200 Inveslmnts 6.938 Total cash funds 162,662 5,680 CCXX R1 accnunts ISSI

Unr8Strlcted funds Restricted funds Endowment funds Dètalls arest £ to nearest £ ta nBarést É Fthd to whlch a6sel ILYW Gen¢r?I Current value Dtails Lk8tgJ nveslThnts B3 Investment assets 230,284 FLY to whl¢h asset bBlrry Currèr* vèlu I(IXlonall Details CLBt ILyb¢xo11 B4 Assets rètained for the charity's own use FU to whl¢h liability relatss DÈtalls lryrtirmll B5 Liabilities Slgn8d by one ortw INslees on behalf of all the Iruslees Synature Prnl Narne Dale of approval S Ausltn 28101/25 CCXX R2 accounts ISSI 2710112025

Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Report to the trustees/ Charity Name RAMM DEVELOPMENT TRUST members of On accounts for the year 31 MARCH 2024 Charity no 1181542 ended (if any) Set out on pages

(remember to include the page numbers of additional sheets)

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 March 2024 .

Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation basis of report of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent I have completed my examination. I confirm that no material matters have examiner's statement come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

accounting records were not kept in accordance with section 130 of the Act or
the accounts do not accord with the accounting records

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

Signed: Date: 29 January 2025 Name: Benjamin de Cruz Relevant professional BA FCA qualification(s) or body (if any): Address: Haines Watts (Western) Limited 3 Southernhay West Exeter EX1 1JG

October 2018

IER