REGISTERED COMPANY NUMBER: 00682158 (England and Wales) REGISTERED CHARITY NUMBER: 200536
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021
FOR
SAINTS AND SINNERS TRUST LIMITED(THE) (A COMPANY LIMITED BY GUARANTEE)
SAINTS AND SINNERS TRUST LIMITED(THE)
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 October 2021
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 4 |
| Statement of Trustees' Responsibilities | 5 | ||
| Independent Examiner's Report | 6 | ||
| Statement of Financial Activities | 7 | ||
| Balance Sheet | 8 | to | 9 |
| Notes to the Financial Statements | 10 | to | 16 |
| Detailed Statement of Financial Activities | 17 |
SAINTS AND SINNERS TRUST LIMITED(THE)
REFERENCE AND ADMINISTRATIVE DETAILS for the Year Ended 31 October 2021
| TRUSTEES | N W Benson OBE |
|---|---|
| D C Edwards | |
| Sir A S Jolliffe GBE DL | |
| Sir T J H Laurence | |
| COMPANY SECRETARY | D C Edwards |
| REGISTERED OFFICE | 40 Queen Anne Street |
| London | |
| W1G 9EL | |
| REGISTERED COMPANY | 00682158 (England and Wales) |
| NUMBER | |
| REGISTERED CHARITY | 200536 |
| NUMBER | |
| INDEPENDENT EXAMINER | Darren Kerins FCCA |
| Ad Valorem Accountancy Services Limited | |
| 2 Manor Farm Court | |
| Old Wolverton Road | |
| Milton Keynes | |
| Buckinghamshire | |
| MK12 5NN | |
| BANKERS | Barclays Bank PLC |
| Mayfair, London Branch | |
| PO Box 2056 | |
| London W1A 1AP |
Page 1
SAINTS AND SINNERS TRUST LIMITED(THE)
REPORT OF THE TRUSTEES for the Year Ended 31 October 2021
The Council of Management submit their report and the unaudited financial statements of the Charity for the year ended 31 October 2021. This report replaces the report of the directors required by s415 of the Companies Act 2006 and represents the trustees' report which is required to be prepared by Part 8 of the Charities Act 2011.
The directors of the Charity, also referred to as the Council of Management (the Council), are its trustees for the purposes of Charity Law, and are listed on page 1; each of whom were directors on the date of approval of this report.
The financial statements have been prepared in accordance with accounting policies set out on page 10, and with applicable United Kingdom accounting standards, current statutory requirements, the Charities Act 2011, the Companies Act 2006 (Charitable Companies), 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) (2nd Edition, effective January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charity's governing document.
Legal and administrative information set out on page 1 forms part of this report.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The primary objectives of the Trust, as provided for in the Memorandum of Association, are to support charitable institutions, trusts and undertakings established exclusively for charitable purposes.
The Charity aims to distribute grants primarily to those charitable organisations whose objects the Council decides are in line with the objects of the Charity. By providing such financial support the Charity seeks to enable other charitable organisations to achieve their objectives for the public benefit.
The Council confirms that in accordance with section 17 of the Charities Act 2011, they have referred to the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning their future activities.
STRATEGIC REPORT
Achievement and performance
Charitable activities
The Charity has met its main objective and made net distributions of £29,900 (2020: £47,500) to those charities listed under note 4. The golf tournament held in October 2021 raised £68,100 gross (2020: £44,850 gross) less costs of £24,117 (2020: £18,855). The net amount raised was distributed in December 2021. During the year, donations of £5,373 (2020: £Nil), gift aid of £2,375 (2020: £2,006) and donated services of £1,800 (2020: £1,800) were received. Bank interest receivable was £9 (2020: £46).
Page 2
SAINTS AND SINNERS TRUST LIMITED(THE)
REPORT OF THE TRUSTEES for the Year Ended 31 October 2021
STRATEGIC REPORT Financial review Financial position
| During the year income (excluding gift aid) from all sources amounted to: Out of which golf tournament expenses and administration expenses were paid amounting to: Resulting in a surplus of: Charitable distributions to various charities were made totalling: Gift aid receivable Funds brought forward as at 1 November 2020 were: Giving total funds to be carried forward of: This comprised: General Fund Total funds carried forward as at 31 October 2021 |
£ 75,282 (26,838) 48,444 (29,900) 2,375 36,983 57,902 57,902 57,902 |
|---|---|
The Council aims to distribute its General Fund balance, subject to retaining a sufficient working capital balance, in the subsequent financial year by making charitable distributions. In December 2021 the Charity made charitable donations totalling £45,000.
None of the Charity's funds were in deficit as at the date of the financial statements. Commitments to distribute to various charities are made only when reserves are available to do so. As at 31 October 2020, the Charity had a General Fund balance of £36,983 of which £29,900 (net) was distributed by 31 October 2021. There were free reserves of £57,902 as at 31 October 2021.
The Charity does not make investments. Surplus funds are placed on interest bearing accounts with the Charity's bankers while they remain undistributed.
The Charity does not hold any funds as Custodian Trustee.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Saints and Sinners Trust Limited is a company limited by guarantee and is a registered charity governed by its Memorandum and Articles of Association dated 31 January 1961.
Recruitment and appointment of new trustees
The Council of Management may at any time appoint a member to serve as a director, subject to ratification by the members at the following Annual General Meeting. One third of the directors retire by rotation each year. Retiring directors are eligible for re-election. Sir Anthony Joliffe will retire by rotation at the 2021 Annual General Meeting.
Induction and training of new trustees
The Council have considered the recruitment, appointment and training of new members. They agreed that any new member would have to be reputable, professional and be selected based on their suitability for the role. Training in financial accounting should be a requirement, although this would be dependent on the experience and knowledge of the member. Training in the role and responsibilities of a charity trustee would be mainly in the form of publications available from the Charity Commission. Any queries would be addressed to relevant professional advisors as required. David Edwards is responsible for obtaining relevant training materials.
The Council meets at least quarterly to administer the Charity. The day to day management of the Charity has been passed to David Edwards.
Page 3
SAINTS AND SINNERS TRUST LIMITED(THE)
REPORT OF THE TRUSTEES for the Year Ended 31 October 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
The Council has assessed the risks to which it considers the Charity is exposed, and does not consider there to be any major threats. The Council will continue to review the Charity's risk policy, and modify its systems and procedures where necessary.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 23 August 2022 and signed on the board's behalf by:
D C Edwards - Trustee
Page 4
SAINTS AND SINNERS TRUST LIMITED(THE)
STATEMENT OF TRUSTEES' RESPONSIBILITIES for the Year Ended 31 October 2021
The trustees (who are also the directors of Saints and Sinners Trust Limited(The) for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 5
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SAINTS AND SINNERS TRUST LIMITED(THE)
I report to the trustees (who are also directors for the purpose of company law) on my examination of the financial statements of The Saints and Sinners Trust Limited ("the charitable company") for the year ended 31 October 2021 which comprise the Statement of Financial Activities, the Balance Sheet and related notes.
This report is made solely to the charity's trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my work, for this report, or for the opinions I have formed.
Responsibilities and basis of report
As the trustees of a charitable company you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ("the 2006 Act").
Having satisfied myself that the financial statements of the charitable company are not required to be audited under Part 16 of the Act and are eligible for independent examination, I report in respect of my examination of the charitable company's financial statements carried out under section 145 of the Charities Act 2011 ("the 2011 Act") and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a "true and fair" view and my report is limited to those specific matters set out in the independent examiner's statement.
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:
-
accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or 2. the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the financial statements give a "true and fair view" which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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 financial statements to be reached.
Darren Kerins FCCA Ad Valorem Accountancy Services Limited 2 Manor Farm Court Old Wolverton Road Milton Keynes Buckinghamshire MK12 5NN
23 August 2022
Page 6
SAINTS AND SINNERS TRUST LIMITED(THE)
STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 October 2021
| 31.10.21 | 31.10.20 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 9,548 | 3,806 | |
| Other trading activities | 2 | 68,100 | 44,850 |
| Investment income | 3 | 9 | 46 |
| Total | 77,657 | 48,702 | |
| EXPENDITURE ON | |||
| Raising funds | 24,117 | 18,855 | |
| Charitable activities | 4 | ||
| Grants | 29,900 | 47,500 | |
| Other | 2,721 | 2,833 | |
| Total | 56,738 | 69,188 | |
| NET INCOME/(EXPENDITURE) | 20,919 | (20,486) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 36,983 | 57,469 | |
| TOTAL FUNDS CARRIED FORWARD | 57,902 | 36,983 | |
| CONTINUING OPERATIONS |
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
Page 7
SAINTS AND SINNERS TRUST LIMITED(THE)
BALANCE SHEET 31 October 2021
| 31.10.21 | 31.10.20 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Debtors | 9 | 4,375 | 2,250 |
| Cash at bank | 71,824 | 52,969 | |
| CREDITORS | 76,199 | 55,219 | |
| Amounts falling due within one year | 10 | (18,297) | (18,236) |
| NET CURRENT ASSETS | 57,902 | 36,983 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 57,902 | 36,983 | |
| NET ASSETS | 57,902 | 36,983 | |
| FUNDS | 11 | ||
| Unrestricted funds | 57,902 | 36,983 | |
| TOTAL FUNDS | 57,902 | 36,983 | |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 8
SAINTS AND SINNERS TRUST LIMITED(THE)
BALANCE SHEET - continued 31 October 2021
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 23 August 2022 and were signed on its behalf by:
N W Benson OBE - Trustee
D C Edwards - Trustee
The notes form part of these financial statements
Page 9
SAINTS AND SINNERS TRUST LIMITED(THE)
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 October 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
(i) Donations
Donations are accrued when receivable by the Charity. Tax credits are accrued when receivable. Where practical, donated services are recognised as voluntary income at the fair value of the resources received, when the resources are received.
(ii) Charitable activities
Fundraising income is accrued when receivable by the Charity.
(iii) Investment income
Bank interest is accrued when receivable by the Charity.
Expenditure
(i) Costs of raising funds
These costs relate to specific fundraising events and are accrued as at the date of each event.
(ii) Charitable activities
Grants are accounted for in full in the year the grants are approved.
(iii) Administration expenses
Administration costs include external independent examination and accountancy fees and are prepared on an accruals basis. Irrecoverable VAT is included within the appropriate expenditure line item.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Funds
The Trust maintained one fund, the General Fund, which is an unrestricted income fund.
Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments and are initially recognised at transaction value and subsequently measured at their settlement value.
2. OTHER TRADING ACTIVITIES
31.10.21 31.10.20 £ £ Charitable activities - golf tournament receipts 68,100 44,850
continued...
Page 10
SAINTS AND SINNERS TRUST LIMITED(THE)
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 October 2021
| 3. | INVESTMENT INCOME | ||
|---|---|---|---|
| 31.10.21 | 31.10.20 | ||
| £ | £ | ||
| Deposit account interest | 9 | 46 | |
| 4. | CHARITABLE ACTIVITIES COSTS | ||
| Grants | Grant funding of activities (see note 5) £ 29,900 |
||
continued...
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SAINTS AND SINNERS TRUST LIMITED(THE)
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 October 2021
5. GRANTS PAYABLE
| Alexander Devine Children's Hospice Service Archie Lloyd Charitable Foundation (The) Beech Hill Memorial Hall Breast Cancer Haven Brooke Hospital for Animals Trading Limited (The) Buttle UK Charlie Waller Memorial Trust (The) Countryside Learning CS Disabled Holidays Garden Organic (The Henry Doubleday Research Association) Honeypot Children's Charity Injured Jockeys Fund (The) Institute for Cancer Vaccines and Immunotherapy (The) Institute of Hepatology Intensive Care Society (The) London Playing Fields Foundation Marjorie McClure School Fund Mary Ann Evans Hospice Motor Neurone Disease Association Nordoff-Robbins Music Therapy Operation Smile Oxford Hospitals Charity Place2be RAW Workshop Refugio Aboim Ascensao Royal Marsden - Cancer Genetic Research Trust Royal Shakespeare Company Royal Trinity Hospice Ruth Strauss Charitable Foundation Samaritans Save the Children Fund Shackleton Foundation (The) South Bucks Riding for the Disabled Association Starlight Children's Foundation Thames Reach Together for Short Lives Tree Council (The) Trussell Trust (The) White Ensign Association Limited (The) Young Lives Foundation |
31.10.2021 £ - - - - 2,500 1,000 - - 1,500 1,000 1,000 - 1,000 - 2,000 - 1,500 1,000 - - - 1,500 - (1,500) 1,500 - 2,000 - 4,900 - - 3,000 3,000 1,000 - 1,000 - 1,000 - - 29,900 |
31.10.2020 £ 1,250 1,000 1,250 1,000 - - 1,000 1,250 1,500 1,000 500 (2,500) - 1,250 - 1,500 - 1,500 1,500 1,250 1,000 1,500 1,500 1,500 1,500 1,250 3,000 500 - 1,500 1,000 4,000 5,000 1,000 1,500 500 1,500 - 3,000 2,500 47,500 |
|---|---|---|
continued...
Page 12
SAINTS AND SINNERS TRUST LIMITED(THE)
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 October 2021
6. SUPPORT COSTS
| Independent examination fees Accountancy fees (see below) Bank charges Other administration expenses |
31.10.21 £ 1,000 1,683 38 - 2,721 |
31.10.20 £ 1,000 1,800 12 21 2,833 |
|---|---|---|
Accountancy charges of £1,800 (2020: £1,800) were donated and this has been accounted for as a donation in kind.
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 October 2021 nor for the year ended 31 October 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 October 2021 nor for the year ended 31 October 2020.
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM | Unrestricted fund £ |
|---|---|
| Donations and legacies | 3,806 |
| Other trading activities | 44,850 |
| Investment income | 46 |
| Total | 48,702 |
| EXPENDITURE ON | |
| Raising funds | 18,855 |
| Charitable activities | |
| Grants | 47,500 |
| Other | 2,833 |
| Total | 69,188 |
| NET INCOME/(EXPENDITURE) | (20,486) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 57,469 |
| TOTAL FUNDS CARRIED FORWARD | 36,983 |
continued...
Page 13
SAINTS AND SINNERS TRUST LIMITED(THE)
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 October 2021
| 9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
|---|---|---|---|---|---|
| 31.10.21 | 31.10.20 | ||||
| £ | £ | ||||
| Other debtors | 4,375 | 2,250 | |||
| 10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| Accrued expenses | 31.10.21 £ 16,870 |
31.10.20 £ 3,079 |
|||
| Members Luncheon Fund | 1,427 | 15,157 | |||
| 18,297 | 18,236 | ||||
| 11. | MOVEMENT IN FUNDS | ||||
| Unrestricted funds | At 1.11.20 £ |
Net movement in funds £ |
At 31.10.21 £ |
||
| General fund | 36,983 | 20,919 | 57,902 | ||
| TOTAL FUNDS | 36,983 | 20,919 | 57,902 | ||
| Net movement in funds, included in the above are as follows: | |||||
| Unrestricted funds | Incoming resources £ |
Resources expended £ |
Movement in funds £ |
||
| General fund | 77,657 | (56,738) | 20,919 | ||
| TOTAL FUNDS | 77,657 | (56,738) | 20,919 | ||
| Comparatives for movement in funds | |||||
| Unrestricted funds | At 1.11.19 £ |
Net movement in funds £ |
At 31.10.20 £ |
||
| General fund | 57,469 | (20,486) | 36,983 | ||
| TOTAL FUNDS | 57,469 | (20,486) | 36,983 | ||
continued...
Page 14
SAINTS AND SINNERS TRUST LIMITED(THE)
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 October 2021
11. 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 | 48,702 | (69,188) | (20,486) |
| TOTAL FUNDS | 48,702 | (69,188) | (20,486) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Net At movement At 1.11.19 in funds 31.10.21 £ £ £ 57,469 433 57,902 57,469 433 57,902 |
|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds | Incoming Resources resources expended £ £ |
Movement in funds £ |
|---|---|---|
| General fund | 126,359 (125,926) |
433 |
| TOTAL FUNDS | 126,359 (125,926) |
433 |
12. RELATED PARTY DISCLOSURES
Neil Benson OBE and David Edwards are partners in Lewis Golden LLP, Chartered Accountants and Statutory Auditors, who provided accountancy and secretarial services to the company at a charge of £Nil (2020: £Nil).
continued...
Page 15
SAINTS AND SINNERS TRUST LIMITED(THE)
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 October 2021
13. LUNCH FUND
During the year, the trustees decided to separate out the Saints and Sinners Club Members' Fund. The bank was instructed to make the transfer of £44,974 before the year end and the amount cleared the bank on 1 November 2021. At 31 October 2021, the company was indebted to the Saints and Sinners Club Members' Fund in the amount of £Nil (2020: £15,157) which had been lent on call interest free and was held on deposit with Barclays Bank PLC. Following the transaction, the company owed £1,427 (2020: £Nil) to the Saints and Sinners Club Members' Fund.
14. AVERAGE NUMBER OF EMPLOYEES
The average number of employees was as follows:
31.10.21 31.10.20 0 0
Page 16