ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE FIRST PERIOD ENDED 30TH JUNE 2022
THE ROBIN TANNER TRUST
CHARITY REGISTRATION No: 1195082
Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
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THE ROBIN TANNER TRUST
CONTENTS
Page 3 Legal and Administrative Information Page 4 Trustees' Report Page 5 Independent Examiner's Report Page 6 Statement of Financial Activities Page 7 Balance Sheet Pages 8 to 13 Notes to the Financial Statements
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THE ROBIN TANNER TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER
CHARITY NUMBER 1195082 DATE OF REGISTRATION 7th July 2021 START OF FINANCIAL PERIOD 7th July 2021 END OF FINANCIAL PERIOD 30th June 2022 TRUSTEES AT 30TH JUNE 2022 Katherine Jose Taylor John Frederick Andrew Newth Neil Fraser Hewitt Cressida Jane Chrusciak LEGAL STATUS Unincorporated Charity
GOVERNING INSTRUMENT
Trust Deed Dated 31st May 2013
OBJECTS
The objects of the Charity are the advancement of education and the relief of those in need because of ill health and the Trustees shall apply the net income of the Trust Fund and any part of the capital at their absolute discretion in one or more of the following ways: 1 ) In awarding scholarships exhibitions bursaries or maintenance allowances tenable at any Schools or other educational establishments approved by the Trustees to persons up to and including the age of 16 years who the Trustees deem to be in need of financial assistance. 2 ) In providing financial assistance to those in need because of ill health including the payment of medical fees and the costs of research.
CORRESPONDENCE ADDRESS
Kendall & Davies Station Road Bourton-On-The-Water Cheltenham GL54 2AA
PRIMARY BANKERS CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ INVESTMENT MANAGERS J.M Finn & Co Ltd 25 Copthall Avenue London EC2R 7AH INDEPENDENT EXAMINERS Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
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THE ROBIN TANNER TRUST
TRUSTEES' ANNUAL REPORT FOR THE FIRST PERIOD ENDED 30TH JUNE 2022
Objectives and Activities
The advancement of education and the relief of those in need because of ill health.
The trustees have provided financial assistance to persons up to and including the age of 16 years who they deem to be in need.
The trustees confirm they have had regard to the guidance issued by the Charity Commission on public benefit.
Achievements and Performance
The trustees have assisted with the education costs of two children following the death of their father. They have also provided financial assistant to eleven other applicants.
Financial Review
The charity is financially secure following its first full year of operation.
Kendall & Davies hold a reserve in respect of any outstanding amounts payable by the estate of Mrs JR Horlock.
Trustees' Responsibilities
The Charities Act 2011 require the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the surplus of the Charity for that period. In preparing those financial statements the trustees are required to:
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Select suitable accounting policies and apply them consistently
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Make judgements and estimates that are reasonable and prudent
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Prepare financial statements on the going concern basis unless it is inappropriate to presume that the trust will continue in existence.
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 of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
24/04/23 Approved by the Trustees on …………………………………………………………………………………………………………………… Signed on their behalf by Trustee ……………………………………………………………………………………………………………… Printed Name: Katherine Taylor
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THE ROBIN TANNER TRUST INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS Rèport to the trustÈÈsl rnber$ ofThp Ron Tanw Trust on thè aLwJnts for tho frt per¥xl ended 311th Jung 2022 sot out on pages 6 to lJ. Rw4pgctiv• rwpon¥lblbW•• oltrurt•x and •wlngr Tha charity'$ tru$tee8 are mp)nsIe for lh8 pY8FwatK of tlk) ¥KxLwJnl& The Ghartty'5 tsusto85 wnsKler that an aL•Ytt Is not r•quir•d for thi¢ y•ar undqr Boction 144 of tho C11( Aol 2011 Ilhc chori11 Ac418nd th81 an Sndependtsnt examination needed. It 1$ my rgBpon6ibilty to-. exarnine the accounts uN18r 145 01 th8 Charilies . to fvlkjw Ili¥ knitl in thg reCi10nS gen by Charty Cornrnlsslon (undèr section 14515llbl of tho Charili¢s and to stat8 wh8th8r part18[ ml8rs hav8 crrn tn my alt11 Ba$ of Ind•p•nd•nt •xarnln•rfs slat•Trnl My 8Momination wos Mod Ct in accordan¢• 9en•r•l given by th CIKgri¢y Commi8&on. An yxatriiiwtiun Includos a rotrlw ol Ihè aecounting r9¢0fds k•pl by th• charity and a comparison of thg account$ pr068ntgd with those records. 118180 Includes Conseration ol any unusual rtems or disctsures in th• a¢AunIs. And 88Akinc Axr)lanAtion% frnrn th8 truste88 conceming any matters. The pr(LthJres ulwjIW7 Iwl y[Wl¥ dll itw ldeTr tliat would be requlred In An audit, and cons8qugnty no opinion 9iv•n 88 to vknethor tho a¢4¢$ pr¢sont o 'truo Ènd foir, and the report 18 Ilmrted to those matters sel oul in staiemenl bekhv. Ind8p•ntl•nt •x•mln•f• •t•t•rn•nt In eonn•ctioTh wbth my •xgminalh, m¥ttw h¥8 com• to my attMti¢)n: whlch me reasonab couse tts b8lve Ihat In. any wpect. the reouir•mtsnts'. to keep •ccountiThJ ractyds in a¢¢ordarK• sectp)n 130 01 th8 Charitios A¢¢ and to prepare 0¢U whh gcc•rd thè and compty wAth tho xounting roqulrarntÈ 01 the Lharnies Act havo not been rnat: or to whi¢h, in my opinvJn. a¢lwiiKJii L didii lil Lv ¥1otA¥ a ullTJ¥ibidilIty uf Ui¥ aLWUllUS iu b¥ r•ach•d. li Collaku MAAT Castle View Accounting Lld Now Bam Mudberry Lane 8oshai Chich86ter t Suss&x P018 8TS Cwg: 26th Aprfl 2023
THE ROBIN TANNER TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE FIRST PERIOD ENDED 30TH JUNE 2022
| Notes INCOMING RESOURCES Incoming Resources from Generated Funds Donations, Grants & Legacies 3a Investment Income 3b TOTAL INCOMING RESOURCES RESOURCES EXPENDED Costs of Generating Funds Cost of Charitable Activities 4a Governance Costs 4b TOTAL RESOURCES EXPENDED NET INCOMING (OUTGOING) RESOURCES Funds Brought Forward Introduction of Fixed Asset Investments 18 Gains/(Losses on Investments 6 & 18 TOTAL FUNDS CARRIED FORWARD |
Unrestricted Restricted TOTAL Funds Funds 2021/22 £ £ £ 35,991 - 35,991 31,965 - 31,965 67,956 - 67,956 28,057 - 28,057 4,961 - 4,961 33,018 - 33,018 34,938 - 34,938 - - - 1,300,220 - 1,300,220 (33,153) - (33,153) 1,302,005 - 1,302,005 |
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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 8 to 13 form part of these financial statements.
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THE ROBIN TANNER TRUST
BALANCE SHEET AS AT 30TH JUNE 2022
| Note Fixed Assets Tangible Assets 2 Investments 6 Total Fixed Assets Current Assets Debtors & Prepayments 8 Cash at Bank and in Hand 7 Total Current Assets 9 NET CURRENT ASSETS TOTAL ASSETSless current liabilities 10 NET ASSETS Funds of the Charity General Funds Restricted Funds 5 Total Funds Creditors:Long Term Liabilities Creditors:Amounts falling due within one year |
Unrestricted Restricted Total Funds Funds 30-Jun-22 £ £ £ - - - 1,267,067 - 1,267,067 1,267,067 - 1,267,067 - - - 35,688 - 35,688 35,688 - 35,688 750 - 750 34,938 - 34,938 1,302,005 - 1,302,005 - - - 1,302,005 - 1,302,005 1,302,005 - 1,302,005 - - - 1,302,005 - 1,302,005 |
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24/04/23
Approved by the Trustees on ……………………………………………………………………………………………………………………
Signed on their behalf by Trustee ………………………………………………………………………………………………………………
Printed Name: Katherine Taylor
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THE ROBIN TANNER TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FIRST PERIOD ENDED 30TH JUNE 2022
1. ACCOUNTING POLICIES
Basis of Preparation & Assessment of Going Concern
Basis of Preparation
The 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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THE ROBIN TANNER TRUST
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE FIRST PERIOD ENDED 30TH JUNE 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 advice 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.
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.
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 appeals for special offerings for specific purposes.
Designated funds
These funds are funds set aside by the trustees out of unrestricted general funds for particular purposes or projects.
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.
Depreciation Expense
Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied are as follows:
Fixtures, Fittings and Equipment
25% - Reducing Balance
2. TANGIBLE FIXED ASSETS
The Charity held no tangible fixed assets during this initial financial period.
The annual commitments under non-cancelling operating leases and capital commitments are as follows: 30th June 2022 : None
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THE ROBIN TANNER TRUST
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE FIRST PERIOD ENDED 30TH JUNE 2022
3. INCOMING RESOURCES
| a) Donations, Grants & Legacies Gifts & Donations b) Investment Income Bank Interest Dividends Share Sales |
Unrestricted Restricted TOTAL Funds Funds 2021/22 £ £ £ 35,991 - 35,991 35,991 - 35,991 12 - 12 16,953 - 16,953 15,000 - 15,000 31,965 - 31,965 |
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4. RESOURCES EXPENDED
| a) Cost of Charitable Activities Bank Charges Charitable Grants ` b) Governance Costs Independent Examiners Fees 9 Legal & Professional Fees Trustees Expenses |
Unrestricted Restricted TOTAL Funds Funds 2021/22 £ £ £ 56 - 56 28,001 - 28,001 28,057 - 28,057 750 - 750 3,990 - 3,990 221 - 221 4,961 - 4,961 |
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THE ROBIN TANNER TRUST
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE FIRST PERIOD ENDED 30TH JUNE 2022
5. RESTRICTED FUNDS
The Charity held no restricted funds during this initial financial period.
6. INVESTMENTS
| JM Finn Investment Portfolio Cost Value as at 7th July 2021 Additions Profit/(Loss) on Investments Market Value as at 30th June 2022 |
Balance Transfer Profit/(Loss) Balance 07-Jul-21 of Funds On Investment 30-Jun-22 £ £ £ £ - 1,300,220 (33,153) 1,267,067 - 1,300,220 (33,153) 1,267,067 J.M Finn & Co Ltd Investment Unrestricted Restricted Total Portfolio Fund Fund 30-Jun-22 £ £ £ £ - - - - 1,300,220 1,300,220 - 1,300,220 (33,153) (33,153) - (33,153) 1,267,067 1,267,067 - 1,267,067 |
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The Charity holds investments with J.M Finn & Co Ltd and the original indexed book investment as at the 7th July 2021 was £1,300,219.84.. The investment was provided to the Charity as an Unrestricted Endowment and Total Return Investment. The capital and the income and realised gains derived from the Endowment can be used by the Charity for general charitable purposes. The market value of the investment funds held stood at £1,267,066.77 as at 30th June 2022.
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THE ROBIN TANNER TRUST
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE FIRST PERIOD ENDED 30TH JUNE 2022
7. CASH AT BANK AND IN HAND
| Cash at Bank & in Hand 8. DEBTORS AND PREPAYMENTS Sundry Debtors |
Unrestricted Restricted Total Fund Fund 30-Jun-22 £ £ £ 35,688 - 35,688 35,688 - 35,688 Unrestricted Restricted Total Fund Fund 30-Jun-22 £ £ £ - - - - - - |
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9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Independent Examiners Fees | Unrestricted Restricted Total Fund Fund 30-Jun-22 £ £ £ 750 - 750 750 - 750 |
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10. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
The Charity held no long term liabilities during this initial financial period.
11. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Tangible Fixed Assets Net Current Assets Long Term Liabilities TOTAL FUNDS |
Unrestricted Restricted Total Fund Fund 30-Jun-22 £ £ £ 1,267,067 - 1,267,067 34,938 - 34,938 - - - 1,302,005 - 1,302,005 |
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THE ROBIN TANNER TRUST
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE FIRST PERIOD ENDED 30TH JUNE 2022
12. STAFF COSTS AND NUMBERS
The Charity employed no members of staff during this initial financial period.
13. PAYMENTS TO TRUSTEES AND OTHER RELATED PARTIES
No payments were made to the Trustees or any persons connected with them during this financial year. No material transaction took place between the organisation and a Trustee or any person connected with them.
14. 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.
15. RESERVES POLICY
The Trustees have considered the level of reserves they wish to retain, appropriate to the Charity's needs. This is based on the Charity's size and the level of financial commitments held. The Trustees aim to ensure the Charity 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.
16. PUBLIC BENEFIT
The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the Charity 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 Charity should undertake
17. COMPARATIVE FIGURES
There are no comparative figures available as this is the initial period of registered Charitable Activity.
18. INTRODUCTION OF FIXED ASSET INVESTMENT
The Charity held investments with J.M Finn & Co Ltd during the initial financial period. The Charity held a book investment of £1,300,219.84 as at 7th July 2021 and the market value of the investment held stood at £1,267,066.77 as at 30th June 2022. The Fixed Asset Investments have been introduced in to the account to reflect a true and fair value of the Charity's financial position as at 30th June 2022.
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