Maristow Charity CIO
Accounts
Year ended 31 March 2023
Charity Number 1185904
## **Maristow Charity CIO**
Year ended 31 March 2023
Contents
||**Page**|
|---|---|
|Legal and Administrative Details|1|
|Trustees' Report|2-3|
|Statement of Trustees' Responsibilities|4|
|Independent Examiner's Report|5|
|Receipts and Payments Account|6|
|Statement of Assets and Liabilities|7|
|Notes to the Accounts|8-9|
## **Maristow Charity CIO**
Legal and Administrative Details
Year ended 31 March 2023
Maristow Charity is a registered charity (no. 1185904). It was established under a governing document dated 21 October 2019
The principal address of the charity is The Maristow Estate Office, Common Lane, Roborough, Plymouth, PL6 7BN
Main agents:
## **Independent Examiner**
D Leslie FCA Francis Clark LLP Unit 18, Melville Building East Royal William Yard PLYMOUTH PL1 3GW
## **Bankers**
Barclays Bank Cornwall Street PLYMOUTH
## **Investment Advisor**
Charles Stanley & Company Limited 25 Luke Street LONDON EC2A 4AR
1
## **Maristow Charity CIO**
Trustees' Report
Year ended 31 March 2023
The Trustees present their report and accounts of the charity for the year ended 31 March 2023.
The charity Trustees who acted during the year were as follows:-
Sarah, Lady Roborough Lord M J H Roborough H M G Lopes
R Simpson
Trustees are appointed by the existing trustees from the local community. Nominations are made in writing and delivered to the secretary. Each nomination must be proposed and seconded by a voting member of the trust and accompanied by the written consent of the nominee.
## **Aims and organisation**
The charity’s principal objectives are to maintain and preserve the building known as St Martin's Chapel and surrounding lands and tenements and such charitable purposes as the Trustees may from time to time determine.
The charity has complied with the duty in section 17(5) of the 2011 Charities Act to have due regard to public benefit guidance published by the Charity Commission when reviewing the Trust's aims and objectives and in planning future activities and setting donation and funding policies.
The charity provides donations to other charitable organisations once the Trust assets have been maintained.
## **Review of progress and achievements**
The charity maintains the properties it owns and make donations to a variety of charitable organisations.
The principal risk for the charity is that insufficient funds are generated to adequately maintain the properties it owns. The Trustees manage this risk by carrying out a rolling programme of maintenance and reviewing investment performance.
## **Reserves policy**
It is the policy of the charity to try to maintain a level of free reserves which equates to approximately 12 months expenditure. Other monies are held in reserve by the charity in order to cover any events or situations that may arise to the land and properties held by the Trust.
2
## **Maristow Charity CIO**
Trustees' Report
Year ended 31 March 2023
## **Investment policy**
The Trustees have power to invest in such assets as they see fit, and have set a policy to invest so as to maximise total return (capital growth plus income) with meduim high level risk. The charity employs Charles Stanley as investment advisors and managers. The Trust has chosen not to adopt a formal ethical investments policy.
Approved by the Trustees on 30 January 2024 and signed on their behalf by:
Lord M J H Roborough
For and on behalf of the Trustees
3
## **Maristow Charity CIO**
Statement of Trustees' Responsibilities
## Year ended 31 March 2023
Charity law requires the Trustees to prepare a receipts and payments account and statement of assets and liabilities for each financial year which properly present the charity's receipts and payments for the year together with its assets and liabilities at the end of the period, and adequately distinguish any material special trust or other restricted fund of the charity. In preparing those financial statements the Trustees are required to:
- a) select suitable accounting policies and then apply them consistently;
- b) make judgements and estimates that are reasonable and prudent;
- c) prepare the account and statement on the going concern basis unless it is inappropriate to presume that the activities of the charity will continue
The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity. They are also responsible for safeguarding the assets and liabilities of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Trustees on 30 January 2024 and signed on their behalf by:
Lord M J H Roborough
For and on behalf of the Board of Trustees
4
## **Maristow Charity CIO**
Independent Examiner’s Report to the Trustees of Maristow Charity
## Year ended 31 March 2023
I report on the accounts of the Charity for the year ended 31 March 2023, which are set out on pages 6 to 9.
## **Responsibilities and basis of report**
The charity's Trustees are responsible for the preparation of the accounts. The charity's Trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the Charities Act,
- to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
- to state whether particular matters have come to my attention
## **Basis of Independent Examiner's statement**
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair' view and the report is limited to those matters set out in the statement below.
## **Independent examiner’s statement**
In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
- accounting records were not kept in accordance with section 130 of the Charities Act or
- the accounts do not accord with accounting records
I 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.
D Leslie FCA Francis Clark LLP Chartered Accountants PLYMOUTH
- 31 January 2024
5
## **Maristow Charity CIO**
## **Receipts and Payments**
Year ended 31 March 2023
|**Notes**
**Receipts**
Rent received
Bank interest
Wayleaves
Dividends
Sales of investments
Asset transfer
**Total Receipts for the year**
**Payments**
Charitable donations
3
Other expenditure
4
Fixed asset additions
Investment additions
**Total Payments for the year**
**Net of Receipts/(Payments)**
Cash funds at 31 March 2022
Cash funds at 31 March 2023|**2023**
**£**
**67,932**
**636**
**28**
**78,112**
**146,708**
**12,632**
**-**
**159,340**
**20,080**
**52,792**
**72,872**
**-**
**24,960**
**97,832**
**61,508**
**326,154**
**387,662**|2022
£
38,550
5
-
31,911
70,466
95,999
326,143
492,608
11,600
46,284
57,884
-
108,571
166,455
326,154
-
326,154|
|---|---|---|
6
## **Maristow Charity CIO**
## **Statement of Assets and Liabilities**
|Year ended 31 March 2023
**Cash Fund**
Current Account
Reserve Account
Charles Stanley Capital Account
Charles Stanley Income Account
Petty Cash
**Investment Assets**
Charles Stanley account 1321430
Charles Stanley account 1300389
**Fixed Assets**
Freehold Investment Property
**Debtors**
Trade debtors
Prepayments and accrued income
**Liabilities**
Trade creditors
Accruals and deferred income|**Cost**
**£**
**798,634**
**791,194**
**1,589,828**
**Cost**
**£**
**590,149**
**590,149**|**2023**
**£**
**52,756**
**312,638**
**8,694**
**13,494**
**80**
**387,662**
**2023**
**Market**
**Value**
**£**
**990,668**
**762,325**
**1,752,993**
**2023**
**Market**
**Value**
**£**
**2,585,001**
**2,585,001**
**2023**
**£**
**330**
**1,040**
**1,370**
**2023**
**£**
**15,933**
**8,119**
**24,052**|**2022**
**£**
48,887
237,783
27,577
11,863
44
326,154
**2022**
**Market**
**Value**
£
1,055,151
795,831
1,850,982
**2022**
**Market**
**Value**
**£**
2,755,001
2,755,001
**2022**
**£**
4,827
755
5,582
**2022**
**£**
739
6,999
7,738|
|---|---|---|---|
Approved by the Trustees on 30 January 2024 and signed on their behalf by:
Lord M J H Roborough For and on behalf of the Trustees
7
## **Maristow Charity CIO**
Notes to the Accounts
Year ended 31 March 2023
## **1 Accounting Policies**
The accounts have been prepared on a receipts and payments basis and comply with S133 of the Charities Act 2011.
## **2 Trustees' Remuneration and Expenses**
During the year payments totalling £6,075 (£5,415 - 2022) were made to Lord Roborough for office ma
The Trustees did not receive any remuneration or reimbursement of expenses.
|**3 Charitable donations**
Glass Door Homeless
Save the Children
Grief Encounter and Ruth Strass Foundation
CHSW
Be Well Collective
Woolwell Community Resource Trust
Yelvercare
Sponsorship
Roborough Recreation Hall
St Martins-in-the-Fields Trust
Salvation Army|**2023**
**£**
**-**
**-**
**-**
**-**
**500**
**10,000**
**2,500**
**1,080**
**4,000**
**1,000**
**1,000**
**20,080**|2022
£
100
2,500
4,000
5,000
-
-
-
-
-
-
-
11,600|
|---|---|---|
8
## **Maristow Charity CIO**
Notes to the Accounts
Year ended 31 March 2023
|**4 Other expenditure**
Accountancy - Independent Examination
General repairs
Property rates/expenses
Insurance
Chapel expenses
Woodland expenses
Bank charges
**Management Fees:**
Estate office
Investment fees
Professional fees|**2023**
**£**
**3,600**
**14,938**
**(41)**
**3,652**
**5,609**
**3,169**
**109**
**6,075**
**8,817**
**6,864**
**52,792**|2022
£
1,920
17,779
-
2,368
1,045
8,888
27
4,035
3,408
6,814
46,284|
|---|---|---|
9