REGISTERED CHARITY NUMBER: 1205327 Report of the Trustees and Unaudited Financial Statements for the Period Ended 31 May 2024 for THE TURLEY CHARITABLE TRUST Evdyn Partners (Manchester) Limited Accountants Northern Assurance Buildings 9-21 Princess Street Manchester M2 4DN
THE TURLEY CHARITABLE TRUST Trusi Information for Ihe period ended 31 May 2024 Rgleron¢g and admlnlslrallve detalls Reglstered Charlty number 1205327 Reglstered office Tur18y Associates Transmission 6 Atherton Street Manchester M3 3GS Trustsgs A Browne LCHart OJCarr C Patel P J White Indopgndgnl Examlner Evelyn Partners Imanchesltrrl Lim((ed Accountants Northern Assurance Buildings 9-21 Princess Street Manchester M2 4DN Bankers Yorkshire Bank ple 48- 50 Market Street Manchester M1 1PW Page 1
THE TURLEY CHARITABLE TRUST Report of the Trusiees for Ihe period ended 31 May 2024 The trustees present their report Vlith the lillancial statements ol the ¢harity for the peric*J end&J 31 May 2024. Pl8ase refer to page 1 lor the registration numbw, address ol the principal office and the names ol the trustees who served during the peri1. The trustees have adopted the wowsions ol Accounliro and Reporting by Charities-. Statem8nt ol Rec(xnmend Practice ar¥)licable to charities preparing th&r a(xounls in a(tOTdance with the Financial Reporting Stanclard appiicable in the UK and Republic ol Ireland IFRS 1021 leffectiv8 1 January 20191 (Charities SORP IFRS 10211. The Fund's governing document is the Declaration ol Trust executed 20 October 2023. On the 2W November 2023 a previous charity, The Turley Associates Charitable Trust. wth registered charity number 1125455 ¢ea5ed operations and transferred its assets lo Th& Turley Charitable Trust. Objectlves and activities Polides and oble¢tives The Turley Charitable Trusl was founded and registered with the Charty Commissh?n (Registration number 1205327) on 20 October 2023 as a charity lo provide funds lor-. al The prevention or relief ol sy)verty', bl The advancement ol health.. cl The advancement ol &Jucation: dl The advancèment ol arts, culture, heritage or science.. el The preservation, conservation and protecb'on ol the environment and the prudenl use ol resources- 11 The roliel of poverty and the itnprovement ol the conditions ol life in socially and economically disadvantaged commtjnities.. gl The promotion ot sustainable means ol achSeving economic growth and regeneration. Sustainabje devdopmenl means development which meet5 the needs ol the yesent without compromising the ability of future generations lo meet their own neerjs. Truste8s can make funds available lor such legally charitable purposes as they in their absolute discretion detemiine. The trust deed aulhorfses trustees to make and hold inve5trnents Publlc benèfit The trustees confirm that that they have referred to the guidance contained in the Charrty Commission's general gLJidanc& on public benefit when reviewing the Charity's aims and objective5 and in plaMin9 lulure actlvllies. Achlevement$ and performance Charitable activitles The Iruslees have maintained their donation strategy and o)mmunication plan which has resulted in a high degree ol engagetnent wlh the Settlor's co-owners. A number ol (bnations have been tnade in furtherance ol th8 Trust's aims and in consultation with the Settlor's co-owners. In the past year the trustees have continued to work with Charity Champions, who are locd represenlalives of the Settlor's co-owners. lo identify projects thal meet the Charity's airns. Doing so has increased the levd ol Ial engagement in the work ol the charity and the donation requests that the Charity has been able lo support. To support Ihls work Ihe Trust offers mal¢h funding lor all funds raised by co-owners. Regular financial donations are now made lo 10 charitable projects in each ol the Settlor's Dff ice locations. In turn, rdationships have been formed wth those leading the charr(able yojects supported and regular leedback on progress is received by the trustees who are salisli&J that donations prtsvided are wdl used. The trustees have arranged opportunities lor co-owners to engage in charitake work in the UK and th its partner ¢harity overseas. Pagg 2
THE TURLEY CHARITABLE TRUST Report of the Trustees for the period ended 31 May 2024 Flnonclal revlew Financial position During the period the Trust's income from JI s0ceS arnounled lo £52,819. Resources expended on charitable actSvilies lolalled £52,819. The lolal accumulated unrestricted funds ol the Trust at 31 May 2024 were £2,201. The Trustees consider that the linanoal FX)Sition al 31 May 2024 was satisfactory. Invastment pollcy and oblectlves The trust proposes lo conllnue lo hold its fund In cash held at Its bank lor Ihe loreseeatrAe lulure. given that the funds are relatively modest and ar@ available lo be given as donations in the short lo medium tem). Roservgs pollcy The Trust mantains the reserves ol the charity in order to rlleel capital ¢ontingw)cies whKh may arise from time to time. Reserves held al the end ol the year wer8 £2,201. Golng concern Aller making appropriate enquiries the Iruslees have a reasonablg expectation thal tha charily has adequate resources to continue in operational existence lor the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial slalemenls. Further delwls regardiro the adoption ol the goirvJ coern basis can be found in the accounting poli¢ies. Future plans The Trustees will conlinue to provtde se$ in accordan with the objectives as stated above and look lo)ward lo rnaintaining a close Woring relationship with the Settlor. Donated servlces Turtey A5$0¢iales knmTted have dirtlY lund&J the independent examiners and governance cost of £1,500 and this has been recognised withln incoming resources as a donation 4Mth the ¥uivalent charge included wlthln resources expended. Page 3
THE TURLEY CHARITABLE TRUST Report of the Trustees for the period ended 31 May 2024 struUre1 governanc& and management Re¢rultmenl and appolntment ol new trustees The management ol the charity is the responsibilily ol the TrLJslees who are elected and co-opted under the terrns ol the Trust deed. The settlor (Turley Associates mIted) is aulhorised to appoinl new Trustees lo lill vacancie5 arising through resignation or death ol an existing Trustee. Related partles The Charity works closely 1th its Settlor, Turley Associal8s Llmiled, In delivery ol its charitable objectives. Transactions with Turley Associates Limited are shown in note 10 ol the financial statements. Risk management Internal Conlrd risks are minimised by the irnF4ementation ol procedures lor aulhorfsalon ol dl Iransactlons and projects. Procedures are in pla lo ensure compliance with health aThl safety regulati$. Duri the year the Trustees continued to maintain systems and procedures to mitigate the risks the charity faS aTh rnainlwn procedures lo minitnise the Fotential impa¢1 on the charity should those risks malerfalise. The Trustees have key conlrols in rAace lo manage those risks. The major risks to which the Trust is exposed have been reviewed by the Trustees and procedures are in place to rnanage those risks. The main risk for the charity is.. Donations being given to an organisation does not spend the tjonalion In Ilne wllh the Trust'8 charitable ObltIves. To rnitigale this risk- Donor organisalions are proposed and selected on an office by office basis colltIVelY by all who in each office and subject to an assessment process by the Trustees. Charity co-owners and Trustees dci, in many cases, play an active role in managing the rglalionship wth each donor organisation. Statemeffl ot Trustses, responslbllltie$ The Trustees are responsible lor preparing the Trustees, Report and the linanaa statements in accordancè with applicable laws and regulations. The Charities Act 2011 requires the Trustees to prepare financial statements lor each financial year. The Tnjstees have to prepare thè linanoal slaternents in accordance with Unlled Kingdom Generally Accepted Accounting Eractice (United Kingdom Accounting Standards and applicable lawl. Thé Trust must not approve the financial state@nts unless they are satisfied that they give a true and lair view ol the Stale of affairs ol the charity and ol the inctsming rburces and application ol resources. including thè income and expenditure, ol the charity lor that period. In preparIntheSe linanry slalements th& Trustees are ruired to.. se11 sultake accounting policie5 and then apply Ihern consistently., ObseNe the rnetho(s and principles in thè Charities SORP,. Make judgements and estimates that are reasonable and prudent., Prepare the financial statements on thè going conrn basis unless it is iropprr¥Jriate to presume that the charfty will continue in business. The Trustees are responsible for keeplng adequate accounting records that are suffiaent to show and explain Ihe charity's Iransaclion5 and disclose with reasonable accuracy at any time the financial position ol the charity and enable them lo ensure that the financial statements comply th the Charities Act 2011. the Charity IAccounts and Reports) Regulations 2008 and the provisions of the tru51 deed. They are also responsible lor safeguarding the assets ol the charity and hen¢& for taking reasonable steps lor the PTevention dettIOn ol fraud and other irregularities. Approvecl by or¢Jer ol the board of Iwslees on and signed on its behalf by.. A Browne- Trustee Page 4
THE TURLEY CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT FOR THE PERIOD ENDED 31 MAY 2024 Independent Examlner's Report to the Trustee5 of The Turley Charltable Twst (the ¢harlty) I roport on Ihe accwnts of Ihe eharty fortha èndsd 31 May 2024, which are ssl oui on pages 6- 11. This report is mad& soldy lo the charity's trustees. as a bcK1y, in accordan¢e with the iegulatiMs made under Section 154 of the Charities Act 2011. My work has been und8riak8n so that l Tniqhl slate lo the charity's Trusiees those matters l am required lo stale lo them in an independent examiner's report and lor no other purwse. To the tu1$1 eklent permitt8d by law, I (Jo not accept or a55ume responsiknlity lo anyon8 olh8r than th8 charity and th8 charity's Trusle8s as a body, lor Tny work. for this report. or for the otAnlon81 have formed. Responsibilitie$ and basis Ot report charitys trustees a spOnte for the preparati of Ihe anIs. The charity's trustees consider that an audrt is rK)t required for the year und8r S8Glion 144121 of the charits Act 2Q11 and thal an ind8pendenl examinalion Is ne&Yed. Havir¥J satisfied mysell Ihat the accounts of Ihe Charily are not r8quired to be audited und&r Part 16 01 the 2006 Act and are eligible for independent examination. I reFrt in respect of rny exarninalion ot youreharity's a¢¢ounts as rrIed out under Section 145 of th8 Charities Act 2011 I'lhe 2011 Act'l. In carrying out my examlnaiion I have followed the Directions given by the Charity CotnmissK>n uTrJer SeetKsn 145151 Ibl of the 2011 Act. Independent examlner's statement I have cotn et$ my examination. I confirm that ne matters have (me to my attention in connecbon wth the examlnation giving me cause to bdi8ve'. 1. accwniiffj records were not kept in rssp*t of tho charily as qUIled by Se¢tk)n 130 of Ihe Charit3 Act a)11. or 2. the a¢¢ounls do not acGgid with those word5,' or 3. the a¢¢ounls do not ¢omp1y with the applicable reouiremenls corteming Ihg form and ¢ont8nl ot accounts set out in the Chttrib'es (Accounts and Reports) Regulations 2008 olh8r than any r8quirem8nl Ihal th8 accounts 9ive a true and fair view which is not a matter considered as Dart of an incleoenéent examination. I have no concerns and have come across no other mallers In conneciion Wlh Ire examinats.on to whh att8ntion 5h(¥Jld be drawn in llis rert in order lo enable a pror wderslanding ol the accounts lo b8 reached. David M Fort FCA Eve1 Partners IManchest8rl Llrnlt8d Accountants Date.. 3rd Floor Northern Assurance Buiklirys 9-21 Princes5 Street Manchesier M2 4DN Page 5
THE TURLEY CHARITABLE TRUST STATEMENT OF HNANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 MAY 2024 Notes Unrèslrl¢ted lunds 2024 Total funds 2024 Income Donations and legacies 52,819 52,819 Total Income 52,819 52.819 nditure Charitable activ1eS Support costs 51,319 1,500 51,319 1,500 Total expendlture 52,819 52,819 Net movement in funds Reconclllatlon of lunds: Funds transferred from The Turfey Associates Charitable Trust 2,201 2,201 Total funds carried forward 2,201 2,201 All amounts relate to conlinuing activili8s and unrestricted funds. The charity has no recognised gains or losses other than the results for the year as set out above. Income and 8xpendilure are measured under the historical cost convention. The notes on pages 8 to 11 form part ol these linancial statefflents. Page 6
THE TURLEY CHARITABLE TRUST Reglstratlon number: 1205327 BALANCE SHEET AS AT 31 MAY 2024 Notes 2024 Current assets Debtors Cash al bank and in hand 51,319 2,201 53.520 Current liabilities Creditors 10 151,3191 Net assets 2,201 Funds Unrestricted funds 2,201 Total funds 2,201 The financial statements were approved by the Board ol Trustees on their behalf by.. and signed on A Brown &rusteel The nolefon pages 8 to 11 form part of these financial stalemenls. Page 7
THE TURLEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MAY 2024 1 General informatlon The Turley Charitable Trust is an unlncorporated chartty registered in England and Wales. The charitys registration number and principal offe address are on page 1 of these financial statements. 2 ACuntIng policies The principal accounting policies adopted, judgements and key sources ol eslimalion uncertainly in the preparation ol the financial staternents are as follow8: a) Basis of preparing Ihe financial statements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Ac¢ounling and Reporting by Charili8s.' Slaternent ol Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial ReFX)rting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191, the Financial Reporting Standard appIable in the UK and Republic ol Ireland IFRS 1021 and the Charities Act 2011. The financial slalemenls have been prepared lo give a true and lair, view and have departed from the Charitie5 IA¢counls and Rewrtsl Flegulalions 2008 only to the extent required lo provide a 'lrue and lair view,. This departure has involved following the Accounting and Reporting by Charities.. Statement ol Recomfflended Praclicg applicable to charities preparing their accounts in accordanc& with the Financial Reporting Standard applicable in the UK and Republic ol Ireland issued in O¢lobgr 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The Turlgy Assodale8 Charitable Trust meets the dellnS1ion ol a publbc benefit entity under FRS 1 Ir2. Assets and liabilities are initially recognised al historal cost or transaction value unless c>lheNise slated in the relevant accounting pollcy. b) Preporatlon ot fSnancial slalements on a going concern basi$ The financial statements have been prgpared on a going cOrern basis which the Trustees consider to be apopropriale lor the following reasons.. The activities ol the charty are limited to distributing funds provided by ils settlor, Turfey Associates Limited. and the charity has no specific commitments and no commited costs. The Trustees have considered a severe bul plausible downside scenario in which the level of donatlDns is reduced to £nil lor the next 12 months. Given the charity's operating model, wherby its activities are to make discretionary payments to other charllies and charitable activities from donations received. even in this scenario the charity will have suffi¢ienl funds to continue in operation for the foreseeable future, being a period ol al least 12 months from the dale ol approval ol the financial stat&ments. and meet ils liabilities as they fall due lor that peTlOd. c) Incoming resources All incorne is recDgnised Once the charity has enlillement lo the income. il is probable trhat the income will be received and the amount ol income receivable can be measured reliably. Page 8
THE TURLEY CHARITABLE TRUST NOTES TO FINANCIAL STATEMENTS (CONT.) FOR THE PERIOD ENDED 31 MAY 2024 1 Accountlng policies (continued) d) Resources expended Liabilities are recognised as expenditure as soon as thgre is a legal or conslruclive obligation committing the charity lo that expenditure, il is probable that a Iransler of economic benefits will be required in settlernenl and the amount ol the obligation can be measured reliably. Expenditure is accounted lor on an accruals basis and has been classified under headings that aggregate 811 cost related to the category. Where costs cannot be directly attributed lo particular headings they have been allocated to activities on a basis nsIstenI Mth the use of resources. Costs of generating funds are those costs incurred in attracling voluntary income, and ihose incurred in trading activities that raise funds. Charitable activities costs are costs incurred on the charity's operalions. Governance costs include those incurred in the govgrnance ol the charity and its assets and are prlmarily associated with conslilulional and slalulory requirements. Support costs are those costs incurred directly in support ol expenditure on the objects ol the charity and include project managemerit costs carried out al headquarters. e) Cash at bank and In hand Cash al bank and in hand includes cash and short term highly liquid investments with a short maturity ol Ihiee months or less from the date ol acquisition or opening ol the account. Fund accountlng Unrestricted funds comprise the accumulated surplus or deficit on the slalemenl 01 financial aclivilies. They are available lor use at the discretion ol the Trustees in furtherance of the general objectives ol the charity. g) Flnanclal Instruments The charily only has financial asseis and liabilities which qualify as basic financial instruments. Basic financi81 instruments are initially recognised at transaction price and subsequently measured at their setllemenl value unless the arrangement constilul&s a financing transaction where the transaction is measured al amortised cost using the Èllective rale ol interest. Page 9
THE TURLEY CHARITABLE TRUST NOTES TO FINANCIAL STATEMENTS {CONT.) FOR THE PERIOD ENDED 31 MAY 2024 3 In¢ome from donatlons and legacles 2024 Donations 52,819 All the income from donations in 2024 was unrestricted. 4 Charltable expendlture 2024 Promotion of education Relief ot ill health and poverty Overseas aid 18,250 33,069 51.319 All charitable expenditure in 2024 was unrestricted. 5 Support costs 2024 Independent examiner's fee Bank charges 1,500 1,500 Support costs are allocated 100 % to charhable activitiès 6 Trustees. remuneration and benefits During the y8ar, no Trustees received any remuneralion, benefits in kind or reimbursement ol expenses 7 Staff costs The charity had no employees during the year No employees received emoluments exoeeding £60,Th)0. Page 10
THE TURLEY CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONT) FOR THE PERIOD ENDED 31 MAY 2024 Debtors 2024 Other debtors 51,319 Cash al bank 2024 Cash at bank 2.201 10 Credltors 2024 Other creditors 51,319 11 Analysls ol net assets between funds Balance at 20 Oct 2023 Income Transfer from Balance at old entity 31 May 2024 Expenditure Unrestricted funds General funds 51,319 51,319 2.201 2,201 Total funds 51,319 51.319 2,201 2,201 12 Related party transactions Turley Associates Limited contributed £51,319 to Ihe charily and paid £51,319 donations on ils behalf durinq the period ended 31 May 2024. As the Turley Charitable Trust did not have a bank account until post 31 May 2024 these amounts are shown as debtors and creditors on the balance sheet. Turley Associates Limited is a related party as the company is the founder ol the charily. On 27th November 2023 The Turley Associate5 Charitable Trust, a previous charity founded by Turley Associates Limited ceased operations aNJ Iransterred its assets of £2.2011o The Turley Charitable Trust. Page11