REGISTERED CHARITY NUMBER: 1200494
The Richard Meins Charitable Trust
Report of the Trustees and Unaudited Financial Statements for the Year Ended 5th April 2024
Nigel Wilson & Co 4th Floor 100 Fenchurch Street London EC3M 5JD
The Richard Meins Charitable Trust
Contents of the Financial Statements for the Year Ended 5th April 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Statement of Financial Position | 5 | ||
| Notes to the Financial Statements | 6 | to | 8 |
| Detailed Statement of Financial Activities | 9 |
The Richard Meins Charitable Trust
Report of the Trustees for the Year Ended 5th April 2024
The trustees present their report with the financial statements of the charity for the year ended 5th April 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
Objectives and activities
Constitution and objects
The Richard Meins Charitable Trust is constituted by a trust deed dated 19th August 2022 and is a registered charity number 1200494.
The objects of the charity are to apply the income and capital of the trust for charitable purposes as the Trustees shall in their absolute discretion determine.
Public benefit
In meeting the objectives the Trustees have given careful consideration to the Charity Commission’s general guidance on public benefit and judge that all donations made meet this guidance.
Financial review
Investment policy and objectives
The Trustees continue to look to support charitable organisations within the objects clause of the Trust deed.
Funds are yet to be nominated for specific purposes but the Trustees intend to make donations in the near future.
The Financial Statements show gross income of £50,000 (2023: £5,000) in the year. After support costs of £9,250 (2023: £593), funds of £45,157 are available to be carried forward.
The Trustees are satisfied with the state of the Trust's affairs.
The Trustees follow a conservative investment policy by keeping its monies on deposit, which ensures sufficient liquidity for the Trust’s foreseeable needs and donations.
Reserves policy
The Trustees aim to maintain unrestricted reserves in order to meet any exceptional calls for immediate charitable funding. The unrestricted reserves at 5 April 2024 were £45,157.
Structure, governance and management Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Organisation
The Trustees who have served during the year and since the year end are set out on page 1. The power to appoint additional Trustees is vested in the current Trustees and is exercisable in writing. Where there is a requirement for new Trustees, these would be identified by the remaining Trustees.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Reference and administrative details Registered Charity number
1200494
Principal address
Hadmans The Green Chiddingfold Surrey GU8 4TT
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The Richard Meins Charitable Trust
Report of the Trustees for the Year Ended 5th April 2024
Trustees
Miss J C Meins Mr. J W Meins Mrs C T Meins Miss C Meins Mr R I Meins Mr J Stevens
Independent Examiner
David Hatchard BA FCA Nigel Wilson & Co 4th Floor 100 Fenchurch Street London EC3M 5JD
Approved by order of the board of trustees on 24th April 2024 and signed on its behalf by:
Mr J Stevens - Trustee
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Independent Examiner's Report to the Trustees of The Richard Meins Charitable Trust
Independent examiner's report to the trustees of The Richard Meins Charitable Trust
I report to the charity trustees on my examination of the accounts of The Richard Meins Charitable Trust (the Trust) for the year ended 5th April 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
David Hatchard BA FCA
Nigel Wilson & Co 4th Floor 100 Fenchurch Street London EC3M 5JD
22nd April 2024
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The Richard Meins Charitable Trust
Statement of Financial Activities for the Year Ended 5th April 2024
| Period | |||
|---|---|---|---|
| 19/8/22 | |||
| Year Ended | to | ||
| 5/4/24 | 5/4/23 | ||
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| Income and endowments from | |||
| Donations and legacies | 50,000 | 5,000 | |
| Expenditure on | |||
| Other | 9,250 | 593 | |
| NET INCOME | 40,750 | 4,407 | |
| Reconciliation of funds | |||
| Total funds brought forward | 4,407 | - | |
| Total funds carried forward | 45,157 | 4,407 |
The notes form part of these financial statements
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The Richard Meins Charitable Trust
Statement of Financial Position 5th April 2024
| 2024 Unrestricted fund Notes £ Current assets Cash at bank 45,157 Net current assets 45,157 Total assets less current liabilities 45,157 NET ASSETS 45,157 Funds 4 Unrestricted funds 45,157 Total funds 45,157 |
2023 Total funds £ 4,407 |
|---|---|
| 4,407 | |
| 4,407 | |
| 4,407 | |
| 4,407 | |
| 4,407 |
The financial statements were approved by the Board of Trustees and authorised for issue on 24th April 2024 and were signed on its behalf by:
Mr J Stevens - Trustee
The notes form part of these financial statements
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The Richard Meins Charitable Trust
Notes to the Financial Statements for the Year Ended 5th April 2024
1. Accounting policies
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Donations, legacies and similar income
Donations, legacies and similar income are shown in the accounts when receivable and the value of the incoming resources can be measured with sufficient reliability.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Governance costs
Governance costs comprise of costs relating to the general running of the charity as opposed to those associated with generating funds or charitable activity.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. Trustees' remuneration and benefits
There were no trustees' remuneration or other benefits for the year ended 5th April 2024 nor for the period ended 5th April 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 5th April 2024 nor for the period ended 5th April 2023.
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The Richard Meins Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 5th April 2024
3. Comparatives for the statement of financial activities
| Comparatives for the statement of financial activities | |||
|---|---|---|---|
| Unrestricte | |||
| fund | |||
| £ | |||
| Income and endowments from | |||
| Donations and legacies | 5,000 | ||
| Expenditure on | |||
| Other | 593 | ||
| NET INCOME | 4,407 | ||
| Total funds carried forward | 4,407 | ||
| Movement in funds | |||
| Net | |||
| movement | At | ||
| At 6/4/23 | in funds | 5/4/24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 4,407 | 40,750 | 45,157 |
| TOTAL FUNDS | 4,407 | 40,750 | 45,157 |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 50,000 | (9,250) | 40,750 |
| TOTAL FUNDS | 50,000 | (9,250) | 40,750 |
| Comparatives for movement in funds | |||
| Net | |||
| movement | At | ||
| in funds | 5/4/23 | ||
| £ | £ | ||
| Unrestricted funds | |||
| General fund | 4,407 | 4,407 | |
| TOTAL FUNDS | 4,407 | 4,407 |
4. Movement in funds
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The Richard Meins Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 5th April 2024
4. Movement in funds - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 5,000 | (593) | 4,407 |
| TOTAL FUNDS | 5,000 | (593) | 4,407 |
5. Related party disclosures
The company received donations totalling £50,000 (2023: £5,000) in the period from Fanstar Maritime Limited.
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The Richard Meins Charitable Trust
Detailed Statement of Financial Activities for the Year Ended 5th April 2024
| Period | ||
|---|---|---|
| 19/8/22 | ||
| Year Ended | to | |
| 5/4/24 | 5/4/23 | |
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Donations | 50,000 | 5,000 |
| Total incoming resources | 50,000 | 5,000 |
| Expenditure | ||
| Support costs | ||
| Other | ||
| Sundries | 9,250 | - |
| Governance costs | ||
| Accountancy and legal fees | - | 593 |
| Total resources expended | 9,250 | 593 |
| Net income | 40,750 | 4,407 |
This page does not form part of the statutory financial statements
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