Charlty registratlon numbgr 1193031 THE MARGARET ROBERTSON CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
THE MARGARET ROBERTSON CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Tru8tèe8 MrP D Lead$om Mr D J Maher Mr M P Robinson Charlty numb•r 1193031 Prlnclpal addr•8s Hodge Hols1 Solic41ors 18 Hoghlon Street Soulhport PR9 OPA Independont •xamlner Tony StanyAcA Mitchell Charlesworth Tempest Suite 5.1 12 rrthebam Street Liveipwj L2 2DT Investmènt advlsors Rowan Dartington & Co. Ltd TeMe Point Redclfft Way Bristol BS16NL
THE MARGARET ROBERTSON CHARITABLE TRUST CONTENTS Pog• Trustees, report Slalemenl of Irustee5' reSponbIllieS Independent examinerfs report s18temt of ffinan(i818(Aiviti8s Balance sheat Noles to the financial slalements 7-12
THE MARGARET ROBERTSON CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Iruslees present their annual report and finala1 Slalements ft*tho year endod 31 Decembèr 2023. The financial stalemgnts have been prepared in a¢xordan(% with thg a¢g)unlrng policies set out in notg 1 to the financial statements and comply wrih the trust's trust deed. the Charili&s A¢t 2011 and'Accounting and Reporting by Charilies.. Slalemenl of Recommèndgd Practice applicable lo charitie5 preparing thr acUnts in accordance with th8 Finaneial Reporting Stsndard apTble in the UK and RepU1C of Ireland (FRS 1021" leffedive 1 January 20191. OblectSvos and aetlviti•$ The objectives ol tho Charity are advanc£m8nt of funds lo promote thg objects of the frowIng ch8dlie$: 1. The Greyhound Trust IRCN2696681 of"Pks., 8rook Lane. Hodey. Suiiey, RU6 9SX. 2. Queenscourt Hospice {RCN 5188011 of Town Lane. Soulhtxjrt, PR8 6RE. 3. Soulhport Offshore Res¢ue Trust IRCN1146B05) of the Lifeboat House, Esplanade, Soulhport. PR8 1RX. 1. Advanclng funds lo Queenseourt Hospice (RCN 269668) lo pd& (x)ntinuing terminal care servl¢es lo all persons with canr or other disease whefe il is felt that a 15 nD longer possib and for whom only palliative Irealmenl is availab. 2. Advancing fund$ lo The Soulhport Offshorè Re$e Trusl (RCN 1146805} for the preservation and saving of lifa at sea and lo equip. rna1ntn atyl operate an offshore reSte servBx al Southpctrt. 3. Advanciw funds to The Greyhound TrLF$I IRCN 269668) for Ihe r&lf of suffering and dislre$s of greyhounds retired from rathng. The trustees confimi that thay throughout the lemi had regard to the guidance issued by the Charity Commission on publi¢ b9nefil. SummAry of the rn activities in rglation lo those purposes for the public benefrt. in particular, Ihe a¢tlv7ties, projeets or services identified In the a¢unts. Donation of £273,850 to Queenscourt Hospke lo as$1 the HospKe with their Big GNe Chrisimas Challènge and ongoing building wor Oonation 01 £75,000 lo Soulhport Offshorg Rgscue Trust to aSst with the rAJrchase & ffKJdification of a naw tractor. Donallon of £75.000 to The Greyhound Twst to provide funds towards the ¢)ngoing work rdred greyhounds. This is a discretlon8ry Tru818nd the Trustees use that disc¥eb'on to distribut8 luThls a¢cNdlng to need and publi benefit in ac¢ord8nce with the PUTPOS•S of the Trust. A¢hlgvom•nts ond rfOrniancè Queenscourt Htsspice - provided vital finanual 8SSi8tsnce lo a tharity that deltvers care and support for Dv8T 1800 people a year suffering ftom cancer 8nd other serious diseases. The Hospice recerves less Ihan 20% of its funding from the NHS and rdies heavily on donations for its very $urThl. Southport Offshore Rescue Trust - the finantyal support promded duriny the year ensured the new Lrfaboat St8tlon W88 fully equipped lo alltsw il to contiriue lo providè a search & rescue semce around Ihe Sefton coastline. The charity is independent fiom the RNLI and T01¥8 no direct funding and is dependent wholfy on donations and fundraising. The Greyhound Trusl- thè financial assi4lance prowdgd 811owed the Trust lo complete their flagship homing cenlre. The charily is th8 onty national charity dedicated lo homing retsred racirKJ gr8yhounds when thèy retire from raang.
THE MARGARET ROBERTSON CHARITABLE TRUST TRUSTEES, REPORT {CONTINUED) FOR TrIE YEAR ENDED 31 DECEMBER 2023 Thg ProrManCe of the underfying lund into which the Trust monies are invested is ewed by the Iruslees on 8 Tegular basls. Flnanclal Ye?W The Tru51 fund is invested in an investmenl fund from which withdrawa15 are rnade to make donallons lo thè thrèe harily benefKiariès. The investment fund Is Invested in 8 rang8 of stocks. shares & cash balaniang rf$k and reward with a eW to overall capilal appreciation. The charity has no employo&s or olher costs and therefore risk is minlmised. Thete is a risk lo the investment fund frorn a downturn in equity price$ but this bs minirnised by a spread of risk aThJ regular reviews. structure. goyemance and mangtrm•nt The Margafel Robertson Ch8ril8bl8 Trust is an unincorporated tru5( registered as a charity on 8 January 2021. Thè charity was eslablished under a Trust Degd. whth estsblished the obje¢l8 of the unincorporated trust as sel out in the undartying wll. Thè charity consists of IhTee Imstses and Tr) employee5. There is wider nelwork The trusteès who seNed during the year and up lo the dale of signature of the fm8n¢ial slalements were.. Mr P D Leadsom Mr D J Maher Mr M P Roblnson The company's current policy conceining the payment of trade uetlitors is lo folksw the CBI'5 Prompl Pwts Code Icoples are available trom the CBI, Centre Point, 103 New l)xford Street, London WC1A 1DU). The company's Cuffenl policy concoMg Ihe payrnenl of Ira(Je ditOrS is to-. sèttle Ihe terms of payment with suppliers when agreeing the iems of oach tran$aclion- gnsur& that supplier$ are made aware ol Ihe terns of payment by in(Jsion of the relevant terms In ¢onlracts', and pay in accordance with the charitls contractual and other leg81 olligalB)n$. The trust•a rt was appro1 by the Board ofTruslees. Mr M P Robinson Trustsp Dale:
THE MARGARET ROBERTSON CHARITABLE TRUST STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023 The Irusto9s aitr respon&ble for preparing the Truslees, Report and the financial slaternenls in accordance with appllcable law and United Kingdom AccounliThJ Standards Iuniled lQngdom GerallY ApIed Accounting Prathel. The law appllcable lo ¢harithes in England and Wa18s require8 the truslees to prepare finandal slalemenls for each nancial year which give a true and fair view ol the stale of affairs of the trust and of the incoming resources and application of resources of tho Imst for thal year. In preparing these flnandal slalements. Ihe Irustees arg requKed to.. - select suitable aecounbng polic4es and then appty them th)nstent.. . observe the methods and prin¢iplgs in the Charities SORP.. make judgements and gsUmale5 Ihal are reasonable and p8n1- state whether appli¢able a¢unts.ng standards have b&en folknved. subject to any material departures dlsdosed and explained in the financial 5talements', and preparè thè financial statèments on Ihe going o)ncem basis unSS it is inapprowiato to pr8sum• that tho charity wlll c(mlinue in operation. The Iruslees are 18sporislbl• for kèèping sufficient arunlIng re¢ord$ Ihal d¢d05e th reasonab accuracy al any time th¢ financial position of Ihe trust and enable them lo ensure that the financial statements comply with th Charllies Act 2011, thtr Chaiity (Accounts and ReIrts) Règulations 2006 and the provisions of Ih? trust deed. Thgy are al$(tr responsible for Safeglrdln9 thg assets (rf Ihe trust and hence lor taking reasonable steps for the prevention and detection ol fraud and other irrpgulaiities.
THE MARGARET ROBERTSON CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MARGARET ROBERTSON CHARITABLE TRUST I report lo the Iruslees on my examinalK)n of the finanaal slalements of Th8 Margaret Robertson Chariiable Trust (the trust) for Ihe year ended 31 December 2023. Thi5 report is made solely to the tharity's Iru5tee$, as a body, in accordance with Section 145 of the Chartties Act 2011. My examlnalSot) has been undertaken so that I might state lo the tharitys trustees those matters l am required lo slate to them In an Indepèndent Examiner's reporl and for no other purpose. To tho fulle81 extenl permitted by law, I do not a¢eepl or assume responsibility to anyone other than Ihe charity and Ihe chartiy's Iruslees as a body. for my exarninalion, ltsr thi8 report, or for thg opinions I have formed. Re$ptsn$lbll1tl and b•8ls ol rnport As the Iwslees of the trust you are responsibk lor the preparation of th& finanaal statements in accordance wilh the requirements of the Charities Acl 2011 Ilhe 2011 Ad). I report in respect of my examination of the trust's financ4al stslemenls ¢arrigd out under seciion 145 of the 2011 Ad. In carrying out my examlnauon I have lollowed all the apICable Direclicrf15 givon by Ihg Charity Commiss)n under section 14515llb) of the 2011 Aet. Independent examin•rf$ •tat•menl Your attention 1s diawn to th$ fact that the ctharity has prepared finandal ststemants in accordance with AccoUntg and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic tsf Ireland IFRS 102) in preferenc to the Accounting and Reporting by Charities.. Statement of Recommended Pradlce Issued on 1 Atmil 2CQ5 which 15 refefred lo in the extsnl regulations bui has now been wllhdrawn. l undarstand that this has been done in order for finand81 slalements lo prode a trt and fair view In a¢cord8nce wlth Generally Ac¢ept¢d Accounting Prachce effedwe for rèporb.ng perfods beginning on or after 1 January 2015. I hav& Mpleted my examinalion. I confimi that no mattws have come to my attention in connedk)n wtth th8 examin3liDn giving m$ ¢au$g lo believe that in any malerial respect: 8¢counling records were not kept in respect of the trust as requirpd by sedon 130 ofthe 2011 Act.. or th8 finanrAal statements do not accord wth tIK)5e reo)rds: the financial staternent5 do not comp wth the 8pplicat raqu1MentS conc£rning Ihe form and conlenl of accounts sel out in the Charities (Accounis and Reports) Regulations 21)08 olh&r Ihan any requirement that the accounts give a Ime and falr wew which is not a matt8r considered as part of an independent examination. I h8ve no concams and have com• across no other matters in Conner0 vthh Ihe examination Ic* which attention should drawn in this rèport in order ki enabk a proper understanding of the financi818latements lo be re8¢hed. t1lI Chthiw Tony Stanley ACA Mitchell Charte8WOrth Tempest Suite 5.1 12 Tilhebam Street Liverpool L2 2DT Dated.. 23 October2024
THE MARGARET ROBERTSON CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 UnStrIctl Unre¥trict•d lunds fund$ 2023 2022 Notes Donations arHI legacies Investments 15.987 142,138 141.771 Total Incom• 158,125 141.771 Itu Raising fund8 48.347 58,385 Charitablo activities 427.(*)O 300.550 Totsl expèndltur• 475,347 358,935 Nel 9ainsl(losses) on investrnenls 11 38.526 (292.913) Net movement In funds {278.696} 1510,0771 Fund balances al 1 January 2023 3.758.189 4.288.266 Fund balance8 at 31 December 2023 3,479,493 3.758.189 Thè stst8ment of financial actIvrt indudes all gains and losw recognised in Ihe y88r. All income and èxpenditure derive from continuing aclwties.
THE MARGARET ROBERTSON CHARITABLE TRUST BALANCE SHEET AS AT31 DECEMBER 2023 2023 2022 Notss Flxed assots In$1rnents 13 3.458.743 3.760.188 Current a#sets Cash al bank and in hand 30,71YJ 11.723 fedltorn: amounts falllng du• wlthin on? year 15 (9.950) {13.722} Nel currenl asselsll1iabile$) 20,750 11.999) Totsl as8•ts loss curr•nt IEabllltle¥ 3.479,493 3,758.189 In¢omo funds Unrfjstrided fund$ 3.479.493 3.758.189 3.479,493 3.758,189 The finaniial 22 October 2024 ments were approved by the Trust86s on..... . ..... Mr M P Roblnson Thi$t••
THE MARGARET ROBERTSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng polic1•$ Chadty inforn)ation The Margarel Robertson Charilable Trust is an unin¢orporaled trust governed by 11$ trust deèd dated 8 October 2020 and registeréd In England & Wales. The prinpaI address is Hodge Halsall SolirAlors, 18 Hoghlon Street. Soulhport. PR9 OPA. 1.1 Accountlng ¢tsnventlon The finanaal s18lements have been preparg(l in accordan¢e wrth the trust's dèèd, the Charill&s Act 2011, FRS 102 'The Financial Reptsrting Standard apIcable in the UK and R¢public of Ireland. I'FRS 102.) and the Ch8rilies SORP A¢counb'ng and Reporting by Charitses.. Sktemenl of Remmended Pr8Ctice applicable lo charities preparing Iheif accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective 1 January 20191. The trust is a Pubhc Benefit Enlily as defined by FRS 102. The fin8naal stalemenl$ havé departed from the Gharib•s IA¢¢£•unts and Reports) Regulations 2008 ollly lo the &xt8nl required to provide a truè atxl fair view. This depariure has involved folknwing thè Slalemenl of Recommended Pradice for tharities 4py1ng FRS 102 rather fhan the version of the Slalement of Recornmend8(I Practice whi¢h is referred to in the ReguLabons bui whth has Since boen wlhdrawn. The ffinancial 8talemenl8 are prepared in sterling. whth 15 the functional IrrencY of th¢ trust. Monetary amounts in these finanoal stslemenl$ a rounded to the nearesl £. Tha financial slalemenls have been prepared under the historiral cost convention. The priwpal aOntIng policies adopled are sel out beh)w. 1.2 Golng eoncèm At the lime ol approving the final) slalements. the twslees have a r•8son8ble expectation that the Irusl has adequate rèsources lo continue in operational existence for Ihe loteseeable future. Thus the trust80$ continu9 to adopt the going ¢X$nrn basis of accounting in pwpariryq the financial stBt8menl$. 1.3 Charltabl• lund$ Unrestricted funds are available for use at the disuelion of the twstees in fvrthprance of their charitable objectiv8s. Restricted funds are sutyèct lo specAfic cond05 by donors as to how they may b& used. The purposes and uses of the testricled funds arè set out in the notes lo tha finanal statements. Endowment funds arg Subject tts speufi¢ ¢ondition8 ty donors that ihe capital musl b& maintained by the trusl. 1.4 Income Income is retgnised when the trust is legally enliued lo it after any performance ¢xndiNons have b8an mal, the amounts be measured rèliably. and it is probablo that ino)me will be received. Cash donations are rècognised on Teceipt. Oiher donations are recognised Onc lh• trust has been rkolified ol the donation, unsS perf0rrnan condthons requir8 dèferral of the amount. Incowne tsx recoverable In ielalion Its donations recewed under Gift Aid or deeds of covenant is COgnISed al the time of th8 donation. Legacies are fecognised on receipt or otherwise rf the trust has been ntslTfied of an impendlng dislributlon. th amount is known. and receipt is expectfjd. If the amount is not known. the legacy is Irealed as a ntigent asset.
THE MARGARET ROBERTSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEIlA8ER 2023 A¢¢ounllng pollel•• Icontlnuedl 1.5 Exp•ndltur• Expenditure 15 recognised once there is a 991 or uMstrUcve obkgalion lo transfer economic benefrt to a Ihlrd party. it is pfobatAe that a transfer of economic beneffts bg réquwed s8tU8m8nl, and the amount of the obllgalSon can be measured reliab. Expendiiure is dassified by a¢Uwty. The costs of 8ach actNity ar• made up of the lolal of direct costs and shared costs. including support 03sts involved in undertaking e8ch 8¢tivily. Dirgct $1$ attributable lo a single 8¢tlvily are 8110¢81ed directty lo that advily. Shared costs which conlribulB lo mute than one a¢iivity and support costs which are not attributab to a sin91è acliwty are apportKJned belween those activrtoes on a basis consistent with the use of resources. Central stsff ¢o$ts ar¢ alkxaled on th9 basis of timè spttnl, and depreciation charge5 are allocated on tho portion of the assefs use. 1.0 Flx8d ass•t Inve5tm•nts Fixed asset investments are Initity me8sur8d al transacn price exduding Iransadion costs. and are subsequently measured at fair Val al eath r•pon9 dale. Changes in fair value are recognised In net incom&llexpendrture} for the year. Transaction costs are exppns¥d as incurred. 1.7 Cash and cash •qulvalgnts Cash and cash equival8nls includ& cash in hand. deposits he at cal wilh banks, other short-temi liquid investmen15 with oivJinal m8tuiits&$ of thrge months or1os$. and bank overdrafts. Bank overdiafts are shr)wn within borrowtngs in cuThent liabilrties. 84$1¢ flnan¢lalass*ts Basic finanaal assets. whkh indude debtors and cash and bank balances, arg Inllially measurad al transaction price including transaction costs and are subsequerhlty carriod al amortlsed $1 using the effective interèst mèlhod unless the arrangement constitute5 a finanrAng transacllon, where the transaction is measured al tho pws¢nl value of the fvlure receipts di50Junled at a market rate of interest. Flnancial assets da55ified a5 receivable wilhln one year a nol amorlised. asl¢ finan¢lal114bllllles Basic finarKial liabilities. including credrfLors and bank loans are inthally recogni8ed at transaction prfce unle$s th8 arr8ngèm8nl constitutes a finanung transac'On, where the debt instrument 15 measured al the presenl Value of the lulure payments discounted at a mark&t fatg of inlgrgsL Financial liabililio$ dasslffied as payabl8 within one year are not amorti5ed. Debt inslrumenls aro SubsUenlty ¢arried at anw)rbse(I cost. using th¢ effe¢ Interest ralo method. Trade creditors are obligations to pay for goo(15 or servrces that have been acquired in the ordinary course ol operations from suppliers. Amounls payable are dassified as cJJrrenl tiabilities il payment is due within one year or le$s. If not. they are presenled as non-currenl IkabS1ities. Trade credilors are re¢ognised initially al transacllon prlce and subsequently measured at amortised cost using the effective Inleresl method. Derncogftftlon offinan¢iwl liabilie$ Finan¢lal liabilities are dere¢ognFsed when the trusfs ajnlraclual obligations expl or are discharged or ¢an¢elled. 1.8 Taxation The Charity benefits from various exemptions from tsxalion afforded by lax legislallon and Is not liable lo o)rporalion lax on income or gains falling with41 those exemptions.
THE MARGARET ROBERTSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Critlcal accountlng tim4# and ludg•m¢nts In thè application of the liusl's a¢countirwJ polic¥e5. the Irustees a required to make judgements. 8slimate8 and assurnptions atxjtrt the carrying amount of ass8ts and li8kn1ilies Ihal are not adity apparent from other 8our¢es. Tho eslimales and 8s$oaaled a55umptions are based on hislortcal experience an¢J other ladors that are consldered lo bg rglev8nl. Actual results may drfferfrom these egumales. The eslimales and underfying 8ssumplion5 are reviewed on an ongoing basis. Revisions lo accounting e81imales are regnised in the period in which the esb'mate is rèws8d where the re¥A$lon affects only that period, or in the period of the rewsion Bnd future peiiods where the revision affects both current and fLrtur& periods. Donations ¥4nd 1oya¢les Unre8trlct•d nds T¢)tal 2023 2022 Donations and gifts 15.987 Inv•stsnents 2023 2022 Income from listed rnve51merrts 142.138 141,771 Ralslng lunds 2023 2022 Investment man8gemènl 46.347 58,385 48,347 58,385 Charltablo actlvltloj 2023 2022 Grant fundin9 of 8Ctiwlies {$ee note Share of governance costs (see note 8} 423.850 3,150 296,500 4,050 427,OCKJ 200,550
THE MARGARET ROBERTSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Grants payabl• 2023 2022 Grants lo instilutions.. other 423,850 296.500 Support costs Support Governance costs costs 2023 2022 AnInCY 3.150 3.150 4,050 3,150 3.150 4,050 Anatysed beeen Charitable actiwlies 3,150 3.150 4,050 Govemance costs ind&S payments to Iha ind8pendenl examin8rs of £3,15012023.' £4,050) for independent examinallon fees. All support costs are allocated lo the one charitable aCtity of grant making. Tru$tegs None of Ih¢ trustees lor any persons nr1e¢l¢d them) rocewed any romunoralion or benefits from the Iwst during th8 year. 10 Employe9$ The average monthty number of employees during the year was= 2023 Number 2022 Number Total There were no ernOyeeS whose annual rernuneralh was more than £fK).C(ID. 10-
THE MARGARET ROBERTSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 11 Nèt galn$lllo8sfys} on Invesknents 2023 2022 Revalualion of investments Gainllloss} on sale of investments 27.615 10,911 1204,039) 188,874) 38,526 1292,9131 12 Toxation The tharity is exempl from tax on incfJm8 and gains falling wilhin $sction 505 of the Taxes Act 1988 Of section 252 of the Taxationof chargeab GainsA¢t 1992 lo the extent lh these are apped to rts dlarilablè objects. 13 Flxed a$sot Inv¥tmgnts U$ted Inv•stments Catsh In portfollo Total Cost or v*luation Al 1 January 2023 Additions Valuation ¢hanges Nel movement in cash Disposals 3,647, 1,056.872 26.764 112.624 3.760,190 1.056,872 26,764 1182,4001 11,202.681) {182.400) 11202.6811 Al 31 D•camber2023 3.528.521 (69,7761 3,458.745 Carrylng amount At 31 Dember 2023 3.528.521 169,776) 3,458.745 Al 31 December 2022 3.647,566 112,624 3.760.190 14 Flnanclal Instruments 2023 2022 Carrylng amount olfinancial a8381• Debt instruments m8asured at amortised ¢osl Equty instruments MUle0 at st sS impairment 30,700 3.458,743 11.723 3,760,189 Carylng amount of finan¢kl Ilabilitle8 Measured al amorti58d cost 13.722 11
THE MARGARET ROBERTSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 15 Credltor¥: amounts falling duè withSn one year 2023 2022 Au01$ and deferred income 9,950 13,722 16 Rolat•d party transactlon$ In the year there were donation$ received from Margaret RobertSDn's E$t8t8 £15.987 12022.. £nil). The Executors of th8 Estat8 have overlap with the Trustee's for the Margaret Robert50n Charilablg Tru$L 12-