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2023-12-31-accounts

REGISTERED CHARITY NUMBER 201794 APPROVAL COPY FOR SIGNATURE AND RETURN

DOUGLAS ARTER FOUNDATION

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

Adams Root Limited t/a Adams Root & Associates Chartered Certified Accountants Bristol

DOUGLAS ARTER FOUNDATION

CHARITY INFORMATION

Registered Charity Number: 201794
Trustees: G V Arter
J L Hudd
P M Yardley
Miss B J Arter
C E Arter
Secretary: Miss B J Arter
Charity Office:
 Fern Villa
Melksham Road
Patterdown
Chippenham
SN15 2NR
Accountants: Adams Root Ltd t/a Adams Root & Associates
Chartered Certified Accountants
86 Shirehampton Road
Stoke Bishop
Bristol
BS9 2DR
Bankers: Barclays Bank Plc
86 Queen’s Road
Clifton
Bristol
BS8 1RB
Investment managers Charles Stanley & Co Limited
26 Queen Square
Bath
BA1 2HX

DOUGLAS ARTER FOUNDATION

FOR THE YEAR ENDED 31 DECEMBER 2023

CONTENTS

Page
Trustees Report 1 - 3
Accountant’s Report 4
SOFA 5
Balance Sheet 6
Notes to the Accounts 7 - 8

DOUGLAS ARTER FOUNDATION

REPORT OF THE TRUSTEES OF THE DOUGLAS ARTER FOUNDATION

FOR THE YEAR ENDED 31 DECEMBER 2023

The Trustees present their report with the financial statements for the year ended 31[st] December 2023.

Objects

The objects of the Trust contained in the Trust Deed dated 9[th] December 1960 continue to be that for the Trustees to apply the trust funds for such charitable purposes, as the Trustees shall from time to time decide.

Activities

The Trustees current policy is to make grants to registered charities within the UK, whose activities are specifically for the benefit of the mentally and physically disabled of all ages. The Trustees make grants where they are considered to be most effective, taking into account the feasibility of projects concerned, the financial situation, funding already available, numbers of people benefiting and voluntary and self help aspects.

Applications for grants must be made by letter setting out in brief concise detail the clear objectives of the appeal. Details of funding already available, including details of self help and a timetable for the project, together with a copy of the latest audited accounts, need to be included with the application. Appeals should be for specific projects, and the Trustees do not support core costs, such as salaries, research, major development costs. All grants are made on a one off basis with no ongoing commitment. Appeals are accepted from registered charitable organisations only.

Consideration of an appeal does not guarantee a grant; this can depend on circumstances such as the number of appeals under consideration and funds available at the time. The award of a grant does not guarantee the success of any subsequent appeals. Repeat appeals may not be considered if made within a twelve month period of an earlier award.

Appeals must be addressed by post to The Secretary and enquiries by e-mail and telephone will not be accepted.

In the past it has been the practice of the trust to acknowledge all appeals, either by letter or E-Mail, prior to meetings and to write further to advise of the award of a grant or decline of an appeal. In future to cut down on costs appeals will not be acknowledged and only successful applicants will be informed after Trustee meetings. The Trustees meet four times a year, in the first week of March, June, September and December, and cheques for grants awarded will be sent by the second weekend of those months.

Public benefit

The Trustees consider that the trust’s activities meet the requirements of the Charity Commission’s guidelines on Public Benefit.

Appointment of trustees

Trustees are appointed by invitation and approval by the existing Trustees.

Review

During the year 2023, the Trust received 338 appeals. 137 grants were awarded, ranging in value from £250 to £2,500 and amounting in total to £78,950 (2022 - £74,500). 2 grants were for amounts of £250, 117 for £500, 2 for £750, 14 for £1,000, and 1 for £2,500.

Investment policy

The Trustees’ Investment Policy is to ensure that funds available are invested to provide distributable income to support the objects of the trust, while endeavouring to maintain the real value of the Funds over the long term. To achieve this The Trustees use the services of a Professional Investment Management Company, Charles Stanley and Co.

1

DOUGLAS ARTER FOUNDATION

REPORT OF THE TRUSTEES OF THE DOUGLAS ARTER FOUNDATION

FOR THE YEAR ENDED 31 DECEMBER 2023

Reserves

The Trust has no specific requirement for reserves and distributes its income as needed to satisfy grants awarded.

Risk policy

The Trustees consider that the main area of risk is in the value of investments through adverse fluctuations in the Stock Markets. In order to minimise the risk, investments are managed by a professional Fund Manager, frequent contact is maintained and regular reviews take place. There is also the risk of loss of data maintained on a computer, but normal backup procedures are carried out, and loss of such data, whilst inconvenient, would not affect the Trust’s ability to continue with its grant making activities.

Financial results

The Financial results for the year are disclosed in the accounts on pages 5 to 8.

During the year investments continued to be managed by Charles Stanley & Co. The Market value of the Trust’s portfolio decreased by £20,571 (0.64%) against the 2022 valuation. Income decreased to £116,343 a decrease of £6,923 against 2022.

The Trust is able to meet all its obligations.

Accountants

Messrs. Adams, Root and Associates were appointed as Accountants to the Trust in 2010, and have indicated their willingness to continue.

Trustees

The Trustees during the Year and at the date of this report were as follows: Mr. G.V. Arter (Chairman) Mr J. L. Hudd Mr P.M. Yardley Miss B. J. Arter Ms C.E. Arter

Secretary

Miss B. J. Arter

Post balance sheet events

No material events have occurred since the Balance Sheet date.

2

DOUGLAS ARTER FOUNDATION

REPORT OF THE TRUSTEES OF THE DOUGLAS ARTER FOUNDATION

FOR THE YEAR ENDED 31 DECEMBER 2023

Trustees Responsibilities

Charity 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 charity at the year end and of its activities during that year. In preparing those financial statements, the Trustees are required to:

The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities SORP 2005 (Accounting and Reporting by Charities) and comply with the Charities (Accounts and Reports) Regulations 2005 issued under the Charities Act 2011. 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.

TRUSTEE……………………………………..

TRUSTEE…………………………………

Dated …………………….

3

REPORT OF THE ACCOUNTANTS

TO THE TRUSTEES OF

DOUGLAS ARTER FOUNDATION

FOR THE YEAR ENDED 31 DECEMBER 2023

We report on the accounts of the Trust for the year ended 31[st] December 2023, as set out on pages 5 to 8.

Respective responsibilities of Trustees and Accountants

The Trustees are responsible for the preparation of the annual financial statements of the Trust. The Trustees consider that an audit is not required for this year (under section 144 (2)) of the Charities Act 2011 (The 2011 Act)) and that an independent examination is needed.

It is our responsibility to:

Basis of Accountants Report

Our examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes the review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently, we do not express an audit opinion on the view given by the accounts.

Accountants Statement

In connection with our examination, no matter has come to our attention:

have not been met; or

Adams Root Limited t/a Adams Root & Associates

Chartered Certified Accountants Bristol

Date: ………………………

4

DOUGLAS ARTER FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2023

Notes
Incoming resources from generated funds
Net income from investments
Charles Stanley
2
Interest received
Interest on Stamp Duty repayment
Total incoming resources
Direct charitable expenditure
Gifts and donations – national
Costs of generating funds
Investment management fee – Charles Stanley
Governance costs
Rent
Secretary’s fee
4
Independent examiners’ fee
Administration expenses
Gratia payment
Repairs
Total resources expended
Net movement in resources before revaluations
Holding gains and losses
Gain/(Loss) on sale of investments
Provision for (losses)/gains on investments
Unrealised (losses)/gains on investments
3
Net (expenditure)/income for the year
Net movement in funds
Fund balance brought forward 31/12/2022

Fund balance carried forward 31/12/2023
£		 2023
£
116,343
-
116,343
84,381
84,381
14,860
14,860
2,200
16,555
2,043
1,486
3,000
487
25,771
125,012
(8,669)
(6,981)
(18,359)
4,575
(20,765)
(29,434)
3,676,608

3,647,174
£		 2022
£
123,266
-
123,266
81,010
81,010
15,157
15,157
2,200
15,400
2,106
911
-
523
21,140
117,307
5,959
-
(61,391)
(211,439)
(272,830)
(266,871)
3,943,479
3,676,608

5

DOUGLAS ARTER FOUNDATION

BALANCE SHEET

AS AT 31 DECEMBER 2023

Note
Investments 5
Fixed Assets 6
Tangible Assets
Current assets
Other Debtors
Barclays Bank Plc
Current Account
Charles Stanley
Capital account
Income Account
Total current assets
Creditors
Amounts falling due within one year
Net current assets
Net assets
Accumulated fund
Balance brought forward
Net movements of funds in year		 31 December 2023
£
£

3,177,168

443,735
550
13,675
14,225
6,428
11,368
17,796
32,021
5,750
26,271
£3,647,174

3,676,608
(29,434)
£3,647,174		 31 December 2022
£
£
3,197,739
443,735
550
16,235
16,785
6,652
17,408
24,060
40,845
5,711
35,134
£3,676,608
3,943,479
(266,871)
£3,676,608		 31 December 2022
£
£
3,197,739
443,735
550
16,235
16,785
6,652
17,408
24,060
40,845
5,711
35,134
£3,676,608
3,943,479
(266,871)
£3,676,608
3,676,608
3,943,479
(266,871)
3,676,608

Approved by the trustees on ……………….. and signed on its’ behalf by:

TRUSTEE

…………………………………………………….

TRUSTEE

…………………………………………………….

6

DOUGLAS ARTER FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

1. Accounting policies

a) Statement of Recommended Practice (SORP)

These accounts are in accordance with applicable accounting standards, the Charities SORP 2005 (Accounting and Reporting by Charities) and comply with the Charities (Accounts and Reports) Regulations 2005 issued under the Charities Act 2011.

b) Historic Cost Convention

Accounts have been prepared on the Historic Cost convention with the single exception of stock market investments, which are valued at market value.

c) Income and Expenditure

All the Trust’s income is “Unrestricted” income and is derived directly from its stock market investments. Income and expenditure is accounted for on the accruals basis and includes VAT where applicable.

d) Investments

Investments have been valued at market value as at 31[st] December 2023 and any provisions or unrealised gains against historic cost have been included in the Statement of Financial Activities for the year.

2. Net Income from Investments – Charles Stanley

3.

Received
Cash dividends
Overseas dividends
Interest paid gross
Unrealised Gains on Investments
Unrealised gains brought forward at 1stJanuary 2023
Increase/(decrease) in unrealised gains for the year
Unrealised gains carried forward at 31stDecember 2023		 2023
116,038
-
305
116,343
2023
1,511,115
4,575
1,515,690		 2022
123,266
-
-
123,266
2022
1,722,554
(211,439)
1,511,115

4. Related Party Transactions

Rent for office facilities are paid to Mr G V Arter, Chairman of the Trustees.

Trustees are reimbursed expenses for attending meetings and their duties as Trustees, such as presenting grants, directly related to Trust activities. In 2023, 2 Trustees (2022 – 2 Trustees) were reimbursed for expenditure incurred totalling £1,068 (2022 – £619).

5. Investments

At cost
Add Unrealised Gains
Less Provision for Losses
At Market Value		 2023
1,809,747
1,515,690
3,325,437
148,269
3,177,168		 2022
1,816,534
1,511,115
3,327,649
129,910
3,197,739

7

DOUGLAS ARTER FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

6 Tangible fixed assets

Cost or valuation
At 1 January 2023
Additions
At 31 December 2023
Depreciation
At 1 January 2023
Charge for the year
At 31 December 2023
Net book values
At 31 December 2023
At 31 December 2022		 Freehold
premises
£
443,735
-
443,735
-
-
-
443,735
443,735

8

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Signature 1

Signed by Belinda Arter using authentication code YzwhVyx1N1BJRWZP at IP address 87.80.162.123, on 2024/10/06 13:48:49 Z.

Belinda Arter's e-mail address is: dafbristol@aol.com.