REGISTERED CHARITY NUMBER: 1195746
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE PERIOD 12 JANUARY 2021 TO 5 APRIL 2022
FOR
THE R & A RIVERDELL TRUST
LMDB Limited
t/a LMDB Accountants
Statutory Auditors
Railview Lofts
19c Commercial Road
Eastbourne
East Sussex
BN21 3XE
THE R & A RIVERDELL TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD 12 JANUARY 2021 TO 5 APRIL 2022
|
Page |
Report of the Trustees |
1 to 3 |
Report of the Independent Auditors |
4 to 7 |
Statement of Financial Activities |
8 |
Balance Sheet |
9 |
Cash Flow Statement |
10 |
Notes to the Cash Flow Statement |
11 |
Notes to the Financial Statements |
12 to 15 |
THE R & A RIVERDELL TRUST
REPORT OF THE TRUSTEES FOR THE PERIOD 12 JANUARY 2021 TO 5 APRIL 2022
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityforthe period
12 January2021to 5 April2022.The trusteeshaveadoptedthe provisionsof Accountingand Reporting by
Charities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccounts in
accordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS 102)
(effective 1 January 2019).
OBJECTIVES AND ACTIVITIES Objectives and aims
The objectives of the charity are:
- The relief of poverty, distress or suffering;
- The educationof the generalpublicincludingthe promotionof the studyand appreciationof agriculture,
land management, ecology and conservation.
- the promotion of research into the causes of and cures for cancer and similar diseases;
The relief of mental or physical disability;
-Advancementofthewelfareandconservationofanimalsincrisisordistressandpreventingcruelty and
suffering to domestic or wild animals.
Significant activities
Themajoractivityin theperiodwastheestablishmentofthecharityandreceiptoftheinitialdonation of
land. The land was subsequently sold realising cash funds for future application for charitable activities.
Public benefit
Thetrusteeshaveresearchedwaysofmaximisingincomesoastobenefitgoodcausesand have
consideredcharitiesthatmaywishtobesupportedinfutureperiods,withdueregardforthe guidance
issued by the Charity Commission on public benefit.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Duringthisinitialperiodofestablishingthecharity,focushasbeenonliquidatingtheinitialdonation of
land. In future periods the charity will make grants and donations to selected charities and good causes.
FINANCIAL REVIEW
Financial position
Atthebalancesheetdatethecharityheld£1,265,468inabankaccount.Thetrusteeshave subsequently
utilisedthe majorityof the funds to createan investmentportfolio,whichwill providean incomereturn to
support the charity and also ensure appropriate liquidity to meet grant making objectives.
Reserves policy
The trusteeshave examinedthe charity'sneed for reservesin the light of the main risk to the organization,
namelya fallin investmentincome.Theyaredevelopinga policywhereunrestrictedfundsshouldbe able
to generate an income to support grant making objectives,
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Thecharityiscontrolledbyitsgoverningdocument,adeedoftrustandconstitutesan unincorporated
charity.
Page 1
THE R & A RIVERDELL TRUST
REPORT OF THE TRUSTEES
FOR THE PERIOD 12 JANUARY 2021 TO 5 APRIL 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitment and appointment of new trustees
Inselectingindividualsforappointmentascharitytrustees,thecharitytrusteesmusthaveregardto the
skills, knowledge and experience needed for the effective administration of the charity.
Newtrusteesareappointedbyameetingofthecharitytrusteesandareappointedforan unspecified
term.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1195746
Principal address
Railview Lofts
19c Commercial Road
Eastbourne
East Sussex
BN21 3XE
Trustees
R H Seymour (appointed 12.1.21)
P A Seymour (appointed 12.1.21)
Auditors
LMDB Limited
t/a LMDB Accountants
Statutory Auditors
Railview Lofts
19c Commercial Road
Eastbourne
East Sussex
BN21 3XE
STATEMENT OF TRUSTEES' RESPONSIBILITIES
ThetrusteesareresponsibleforpreparingtheReportoftheTrusteesandthefinancialstatements in
accordancewithapplicablelawandUnitedKingdomAccountingStandards(UnitedKingdom Generally
AcceptedAccountingPractice)includingFinancialReportingStandard102"TheFinancial Reporting
Standard applicable in the UK and Republic of Ireland"
Page 2
THE R & A RIVERDELL TRUST
REPORT OF THE TRUSTEES
FOR THE PERIOD 12 JANUARY 2021 TO 5 APRIL 2022
STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued
ThelawapplicabletocharitiesinEnglandandWales,theCharitiesAct2011,Charity(Accounts and
Reports)Regulations2008andtheprovisionsofthetrustdeedrequiresthetrusteestoprepare financial
statementsfor each financialyear which give a true and fair view of the state of affairsof the charityand of
theincomingresourcesandapplicationofresources,includingtheincomeandexpenditure,ofthe charity
for that period. In preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewith reasonable
accuracyatanytimethefinancialpositionofthecharityandtoenablethemtoensurethatthe financial
statementscomplywiththeCharitiesAct2011,theCharity(AccountsandReports)Regulations2008 and
theprovisionsofthetrustdeed.Theyarealsoresponsibleforsafeguardingtheassetsofthecharity and
hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on 23 January 2023 and signed on its behalf by:
R H Seymour - Trustee
Page 3
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE R & A RIVERDELL TRUST
Opinion
WehaveauditedthefinancialstatementsofTheR &A RiverdellTrust(the'charity')fortheperiod ended
5April2022whichcomprisetheStatementofFinancialActivities,theBalanceSheet,theCash Flow
Statementandnotestothefinancialstatements,includingasummaryofsignificantaccounting policies.
Thefinancialreportingframeworkthathasbeenappliedintheirpreparationisapplicablelawand United
KingdomAccountingStandards(UnitedKingdomGenerallyAcceptedAccountingPractice), including
FinancialReportingStandard102'TheFinancialReportingStandardapplicableintheUKandRepublic of
Ireland'.
In our opinion the financial statements:
-
give a true and fair view of the state of the charity's affairs as at 5 April 2022 and of its incoming resources and application of resources, for the period then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and
-
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
WeconductedourauditinaccordancewithInternationalStandardsonAuditing(UK)(ISAs(UK)) and
applicablelaw.Ourresponsibilitiesunderthosestandardsarefurtherdescribedinthe Auditors'
responsibilitiesfortheauditofthefinancialstatementssectionofourreport.Weareindependentof the
charityinaccordancewiththeethicalrequirementsthatarerelevanttoourauditofthe financial
statementsintheUK,includingtheFRC'sEthicalStandard,andwehavefulfilledourother ethical
responsibilitiesinaccordancewiththeserequirements.Webelievethattheauditevidencewe have
obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditingthe financialstatements,we have concludedthat the trustees'use of the going concernbasis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed,we have not identifiedany materialuncertaintiesrelatingto events
or conditionsthat,individuallyor collectively,may cast significantdoubton the charity'sabilityto continue
asagoingconcernforaperiodofatleasttwelvemonthsfromwhenthefinancialstatements are
authorised for issue.
Ourresponsibilitiesandtheresponsibilitiesofthetrusteeswithrespecttogoingconcernaredescribed in
the relevant sections of this report.
Page 4
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
THE R & A RIVERDELL TRUST
Other information
Thetrusteesareresponsiblefortheotherinformation.Theotherinformationcomprisesthe information
includedintheAnnualReport,otherthanthefinancialstatementsandourReportofthe Independent
Auditors thereon.
Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationand,excepttothe extent
otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connectionwith our audit of the financialstatements,our responsibilityis to read the other information
and,indoingso,considerwhethertheotherinformationismateriallyinconsistentwiththe financial
statementsorourknowledgeobtainedin theauditorotherwiseappearstobe materiallymisstated.If we
identifysuchmaterialinconsistenciesorapparentmaterialmisstatements,wearerequiredto determine
whetherthisgivesrisetoa materialmisstatementin thefinancialstatementsthemselves.If, basedon the
workwe haveperformed,we concludethatthereis a materialmisstatementof this otherinformation, we
are required to report that fact. We have nothing to report in this regard.
Matters on which we are required to report by exception
We havenothingtoreportin respectof thefollowingmatterswheretheCharities(Accountsand Reports)
Regulations 2008 requires us to report to you if, in our opinion:
-
the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
-
sufficient accounting records have not been kept; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
Asexplainedmorefullyin theStatementofTrustees'Responsibilities,thetrusteesareresponsiblefor the
preparationof the financialstatementswhichgive a true and fair view,and for such internalcontrolas the
trusteesdetermineisnecessarytoenablethepreparationoffinancialstatementsthatarefree from
material misstatement, whether due to fraud or error.
Inpreparingthefinancialstatements,thetrusteesareresponsibleforassessingthecharity'sability to
continueas a going concern,disclosing,as applicable,mattersrelatedto going concernand using the going
concernbasisofaccountingunlessthetrusteeseitherintendtoliquidatethecharityorto cease
operations, or have no realistic alternative but to do so.
Page 5
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
THE R & A RIVERDELL TRUST
Our responsibilities for the audit of the financial statements
We havebeen appointedas auditorsunder Section144of the CharitiesAct 2011and reportin accordance
with the Act and relevant regulations made or having effect thereunder.
Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawhole are
freefrommaterialmisstatement,whetherdue to fraudor error,and to issuea Reportof the Independent
Auditorsthatincludesouropinion.Reasonableassuranceisahighlevelofassurance,butisnot a
guaranteethat an audit conductedin accordancewith ISAs (UK) will alwaysdetecta material misstatement
when it exists.Misstatementscan arise fromfraud or errorand are consideredmaterialif, individuallyor in
theaggregate,theycouldreasonablybeexpectedtoinfluencetheeconomicdecisionsofuserstaken on
the basis of these financial statements.
Theextenttowhichourproceduresarecapableofdetectingirregularities,includingfraudis detailed
below:
-Enquiryofmanagementandthosechargedwithgovernanceontheactualandpotentiallitigation and
claims, and also any instances of non-compliance with laws and regulations.
- Reviewingfinancialstatementdisclosuresand testingtosupportingdocumentationtoassess compliance
with applicable laws and regulations.
- Auditingthe riskof managementoverrideof controls,includingthroughtestingjournalentriesand other
adjustmentsfor appropriateness;assessingwhetherthe judgementsmadein makingaccounting estimates
areindicativeofa potentialbias;andevaluatingthebusinessrationaleofanysignificanttransactions that
are unusual or outside the normal course of business.
-Performinganalyticalprocedurestoidentifyanyunusualorunexpectedrelationshipsthatmay indicate
risks of material misstatement due to fraud.
- Professional scepticism in course of the audit and with audit sampling in material audit areas.
Becauseoftheinherentlimitationsofanaudit,thereisariskthatwewillnotdetectall irregularities,
includingthoseleadingtoamaterialmisstatementinthefinancialstatementsornon-compliance with
regulation.Thisriskincreasesthemorethatcompliancewithalaworregulationisremovedfrom the
eventsandtransactionsreflectedin thefinancialstatements,aswewillbelesslikelytobecomeaware of
instancesofnon-compliance.Theriskis alsogreaterregardingirregularitiesoccurringduetofraud rather
than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
Afurtherdescriptionofourresponsibilitiesfortheauditofthefinancialstatementsislocatedon the
FinancialReportingCouncil'swebsiteatwww.frc.org.uk/auditorsresponsibilities.Thisdescription forms
part of our Report of the Independent Auditors.
Page 6
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE R & A RIVERDELL TRUST
Use of our report
Thisreportismadesolelytothecharity'strustees,asabody,inaccordancewithPart4ofthe Charities
(AccountsandReports)Regulations2008.Ourauditworkhasbeenundertakensothatwemightstate to
thecharity'strusteesthosematterswearerequiredtostatetotheminanauditors'reportandfor no
other purpose.To the fullestextentpermittedby law, we do not acceptor assumeresponsibilityto anyone
otherthanthecharityandthecharity'strusteesasabody,forourauditwork,forthisreport,orfor the
opinions we have formed.
LMDB Limited
t/a LMDB Accountants
Statutory Auditors
Railview Lofts
19c Commercial Road
Eastbourne
East Sussex
BN21 3XE
24 January 2023
Page 7
THE R & A RIVERDELL TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 12 JANUARY 2021 TO 5 APRIL 2022
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
EXPENDITURE ON
Charitable activities
3
Grant making
NET INCOME
TOTAL FUNDS CARRIED FORWARD |
Unrestricted
fund
£
1,309,403
8,460
1,300,943
1,300,943 |
|
|
The notes form part of these financial statements
Page 8
THE R & A RIVERDELL TRUST
BALANCE SHEET
5 APRIL 2022
Notes
CURRENT ASSETS
Debtors
9
Cash at bank
CREDITORS
Amounts falling due within one year
10
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
11
Unrestricted funds
TOTAL FUNDS |
Unrestricted
fund
£
43,057
1,265,468
1,308,525
(7,582)
1,300,943
1,300,943
1,300,943
1,300,943
1,300,943 |
|
|
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
23 January 2023 and were signed on its behalf by:
R H Seymour - Trustee
The notes form part of these financial statements
Page 9
THE R & A RIVERDELL TRUST
CASH FLOW STATEMENT
FOR THE PERIOD 12 JANUARY 2021 TO 5 APRIL 2022
Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Sale of investment property
Net cash provided by investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end
of the reporting period |
£
(43,725)
(43,725)
1,309,193
1,309,193
1,265,468
-
1,265,468 |
|
|
The notes form part of these financial statements
Page 10
THE R & A RIVERDELL TRUST
NOTES TO THE CASH FLOW STATEMENT
FOR THE PERIOD 12 JANUARY 2021 TO 5 APRIL 2022
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
|
£ |
Net income for the reporting period (as per the Statement of |
|
Financial Activities) |
1,300,943 |
Adjustments for: |
|
Non-cash donations |
(1,309,193 ) |
Increase in debtors |
(43,057) |
Increase in creditors |
7,582 |
Net cash (used in)/provided by operations |
(43,725) |
2. ANALYSIS OF CHANGES IN NET FUNDS
Net cash
Cash at bank
Total |
At 12.1.21
£
-
-
- |
Cash flow
£
1,265,468
1,265,468
1,265,468 |
At 5.4.22
£
1,265,468 |
|
|
|
1,265,468 |
|
|
|
1,265,468 |
The notes form part of these financial statements
Page 11
THE R & A RIVERDELL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 12 JANUARY 2021 TO 5 APRIL 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsin accordance
withtheFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS 102)
(effective1January2019)',FinancialReportingStandard102'TheFinancialReporting Standard
applicableintheUKandRepublicofIreland'andtheCharitiesAct2011.Thefinancial statements
have been prepared under the historical cost convention.
Preparation of the accounts on a going concern basis
Thetrusteesarenotawareofanymaterialuncertaintiesaboutthecharity'sabilitytocontinueas a
going concern.
Income
Allincomeis recognisedin theStatementofFinancialActivitiesoncethecharityhasentitlement to
the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthe charityto that expenditure,it is probablethat a transferof economicbenefitswill be
requiredinsettlementandtheamountoftheobligationcanbemeasuredreliably.Expenditure is
accountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregateall cost
relatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingsthey have
been allocated to activities on a basis consistent with the use of resources.
Investment property
Investmentpropertyis shown at mostrecentvaluation.Any aggregatesurplus or deficitarising from
changes in fair value is recognised in the Statement of Financial Activities.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestrictedfundscanbe usedin accordancewiththecharitableobjectivesat thediscretionof the
trustees.
Restrictedfunds can only be used for particularrestrictedpurposeswithin the objectsof the charity.
Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedforparticular restricted
purposes.
Furtherexplanationofthenatureandpurposeofeachfundis includedin thenotestothe financial
statements.
continued...
Page 12
THE R & A RIVERDELL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 12 JANUARY 2021 TO 5 APRIL 2022
2. DONATIONS AND LEGACIES
Donations
CHARITABLE ACTIVITIES COSTS
Grant making
SUPPORT COSTS
Governance
Management
costs
£
£
Grant making
5,760
2,700
AUDITORS' REMUNERATION
Fees payable to the charity's auditors for the audit of the charity's
financial statements
Auditors' remuneration for non audit work |
£
1,309,403
Support
costs (see
note 4)
£
8,460
Totals
£
8,460
£
2,100
600 |
|
|
3. CHARITABLE ACTIVITIES COSTS
4. SUPPORT COSTS
5. AUDITORS' REMUNERATION
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the period ended 5 April 2022.
Trustees' expenses
There were no trustees' expenses paid for the period ended 5 April 2022.
7. STAFF COSTS
There were no staff costs during the period.
continued...
Page 13
THE R & A RIVERDELL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 12 JANUARY 2021 TO 5 APRIL 2022
8.
INVESTMENT PROPERTY
FAIR VALUE
Additions
Disposals
At 5 April 2022
NET BOOK VALUE
At 5 April 2022
9.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
10.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
11.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
1,309,403
TOTAL FUNDS
1,309,403 |
Net
movement
in funds
£
1,300,943
1,300,943
Resources
expended
£
(8,460)
(8,460) |
£
1,309,193
(1,309,193 )
-
-
£
43,057
£
7,582
At
5.4.22
£
1,300,943
1,300,943
Movement
in funds
£
1,300,943
1,300,943 |
|
|
|
continued...
Page 14
THE R & A RIVERDELL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 12 JANUARY 2021 TO 5 APRIL 2022
12. RELATED PARTY DISCLOSURES
Duringtheperiodthecharityreceivedadonationoflandvaluedat£1,309,393fromthetrustee R
Seymour.
AsatthebalancesheetdatethecharityowedRSeymour£4,882forlegalfeessettledon the
charity's behalf.
Page 15