# **ANNUAL REPORTS AND DORMANT FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022**
# **MORANT CHARITABLE TRUST**
(Charitable Incorporated Organisation)
**CHARITY REGISTRATION No: 1182386**
Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
## **MORANT CHARITABLE TRUST**
(Charitable Incorporated Organisation)
## **CONTENTS**
Page 3 to 4 Trustees' Report Page 5 Statement of Financial Activities Page 6 Balance Sheet Pages 7 to 10 Notes to the Financial Statements
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## **MORANT CHARITABLE TRUST**
(Charitable Incorporated Organisation)
## **TRUSTEES REPORT**
## **FOR THE YEAR ENDED 31ST MARCH 2022**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**CHARITY NUMBER** 1182386 **DATE OF REGISTRATION** 8th March 2019 **START OF FINANCIAL YEAR** 1st April 2021 **END OF FINANCIAL YEAR** 31st March 2022 **TRUSTEES AS AT 31ST MARCH 2022** Mr S. Morant Mrs B. Morant Mr G. Morant **LEGAL STATUS** Charitable Incorporated Organisation **GOVERNING INSTRUMENT** CIO - Foundation Registered 8th March 2019
## **OBJECTS**
The objects of the CIO are to advance, promote or carry out such Charitable purposes as the Charity Trustees in their absolute discretion from time to time think fit.
## **CORRESPONDENCE ADDRESS**
Old Fonthill Abbey Fonthill Gifford Tisbury Salisbury SP3 6QR
## **ACCOUNTANTS**
Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
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##
##
## **MORANT CHARITABLE TRUST**
(Charitable Incorporated Organisation)
## **DORMANT STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2022**
|**INCOMING RESOURCES**
**Incoming Resources from Generated Funds**
Donations & Legacies
Activities for Generating Funds
Investment Income
Charitable Activities
**TOTAL INCOMING RESOURCES**
**RESOURCES EXPENDED**
**Costs of Generating Funds**
Charitable Activities
Governance Costs
**TOTAL RESOURCES EXPENDED**
**NET INCOMING (OUTGOING) RESOURCES**
Total Funds Brought Forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2021/22**
**2020/21**
£
£
£
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
**-**
**-**
**-**
**-**
-
-
-
-
-
-
-
-
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
-
-
-
-
**-**
**-**
**-**
**-**|
|---|---|
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 7 to 10 form part of these dormant financial statements.
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## **MORANT CHARITABLE TRUST**
(Charitable Incorporated Organisation)
## **NOTES TO THE DORMANT FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022**
## **1. ACCOUNTING POLICIES**
## **Basis of Preparation & Assessment of Going Concern**
## **Basis of Preparation**
The dormant financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
## **Assessment of Going Concern**
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
## **Incoming Resources**
## _**Recognition of Incoming Resources**_
These are included in the Statement of Financial Activities (SOFA) when:
▪ the charity becomes entitled to the resources;
▪ the trustees are virtually certain they will receive the resources; and
▪ the monetary value can be measured with sufficient reliability
## _**Incoming Resources with Related Expenditure**_
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
## _**Grants and Donations**_
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
## _**Tax Reclaims on Donations and Gifts**_
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
## _**Contractual Income and Performance Related Grants**_
This is only included in the SOFA once the related goods or services has been delivered.
## _**Gifts in Kind**_
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.
## _**Donated Services and Facilities**_
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
## _**Volunteer Help**_
The value of any voluntary help received is not included in the accounts.
## _**Investment Income**_
This is included in the accounts when receivable.
## _**Investment Gains and Losses**_
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
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## **MORANT CHARITABLE TRUST**
(Charitable Incorporated Organisation)
## **NOTES TO THE DORMANT FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2022**
## **1. ACCOUNTING POLICIES (continued)**
## **Expenditure and Liabilities**
## _**Liability Recognition**_
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
## _**Governance Costs**_
Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advise to trustees on governance or constitutional matters.
## _**Grants with Performance Conditions**_
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
## _**Grants Payable without Performance Conditions**_
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
## _**Support Costs**_
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of the resources, eg allocating property costs by floor areas, or per capital employed, staff costs by the time spent and other costs by their usage.
## _**Unrestricted Funds**_
These funds can be used for the general objectives of the charity as set out in the trustees report. The movements of the unrestricted funds are given in the Statement of Financial Activities.
## _**Restricted Funds**_
These funds are where the donor has specified a purpose for the donation made. These restrictions often arise as a result of the regular appeals for special offerings made at the Sunday fellowship meetings.
## _**Designated Funds**_
These funds are funds set aside by the trustees out of unrestricted general funds for specific purposes or projects.
## _**Investments**_
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.
## _**Pensions**_
Pension contributions are charged to the Statement of Financial Activities as they become payable.
## _**Taxation**_
The charity is exempt from tax on its charitable activities.
## _**Fixed Assets**_
Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
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## **MORANT CHARITABLE TRUST**
(Charitable Incorporated Organisation)
## **NOTES TO THE DORMANT FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2022**
## **2. TANGIBLE FIXED ASSETS**
The CIO held no fixed assets during this or the previous financial year.
## **3. INVESTMENTS**
The CIO held no investments during this or the previous financial year.
## **4. RESTRICTED FUNDS**
The CIO held no restricted funds during this or the previous financial year.
## **5. CASH AT BANK AND IN HAND**
|Cash at Bank & in Hand
**6. DEBTORS AND PREPAYMENTS**
Sundry Debtors
Gift Aid Tax Recoverable|Unrestricted
Restricted
**Total**
**Total**
Fund
Fund
**31-Mar-22**
**31-Mar-21**
£
£
**£**
**£**
-
-
-
-
**-**
**-**
**-**
**-**
Unrestricted
Restricted
**Total**
**Total**
Fund
Fund
**31-Mar-22**
**31-Mar-21**
£
£
**£**
**£**
-
-
-
-
-
-
-
-
**-**
**-**
**-**
**-**|
|---|---|
## **7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Sundry Creditors
Independent Examiner's Fee|Unrestricted
Restricted
**Total**
**Total**
Fund
Fund
**31-Mar-22**
**31-Mar-21**
£
£
**£**
**£**
-
-
-
-
-
-
-
-
**-**
**-**
**-**
**-**|
|---|---|
## **8. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR**
The CIO held no long term liabilities during or the previous the financial year.
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## **MORANT CHARITABLE TRUST**
(Charitable Incorporated Organisation)
**NOTES TO THE DORMANT FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2022**
## **9. STAFF COSTS AND NUMBERS**
|Gross Wages & Salaries
Employer's National Insurance Costs
Pension Contributions
Employees who were engaged in each of the following activities:
Charitable Activities|**TOTAL**
**2021/22**
**£**
-
-
-
**-**
**TOTAL**
**2021/22**
-
**-**|**TOTAL**
**2020/21**
**£**
-
-
-
**-**
**TOTAL**
**2020/21**
-
**-**|
|---|---|---|
No employees received emoluments in excess £60,000 (2020/21:None).
## **10. PAYMENTS TO TRUSTEES AND RELATED PARTY TRANSACTIONS**
No payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them (2020/21:None).
## **11. RISK ASSESSMENT**
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
## **12. RESERVES POLICY**
The Trustees have considered the level of reserves they wish to retain, appropriate to the CIO's needs. This is based on the CIO's size and the level of financial commitments held. The Trustees aim to ensure the CIO will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily.
## **13. PUBLIC BENEFIT**
The CIO acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the CIO has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the CIO should undertake.
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