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2022-06-30-accounts

Nicholas Watts' Charity Brownsdon and Tremayne Estate

Receipts and Payments Accounts Year ended 30 June 2022 Registered Charity number: 203271

Nicholas Watts' Charity

Financial Statements

Year ended 30 June 2022

Contents Page
Legal and Administrative Details 1
Trustees’ Report 2
Statement of Trustees’ Responsibilities 3
Independent Examiner’s Report to the Trustees 4
Receipts and Payments Account 5
Statement of Assets and Liabilities 8
Notes to the Accounts 9

Nicholas Watts' Charity

Legal and Administrative Details

Year ended 30 June 2022

Nicholas Watts Charity is a registered charity (no. 203271). It was established to administer income from the Estate of Mr N Watts (deceased) in accordance with his Will dated 17th February 1674.

The principal address of the charity is 46 Chaucer Road, Tavistock, Devon PL19 9AJ.

Main agents:

Independent Examiner

Duncan Leslie FCA Francis Clark LLP North Quay House Sutton Harbour PLYMOUTH Devon PL4 0RA

Bankers

TSB Bank Plc Bedford Square TAVISTOCK Devon PL19 0AG

1

Nicholas Watts' Charity

Trustees' Report

Year ended 30 June 2022

The Trustees present their report and the Receipts and Payments Accounts of the charity for the year ended 30 June 2022

The charity Trustees who acted during the year were as follows:-

R Bird - Chairman W Lake
D M Carr - Vice Chairman J Medland
D Bird T G Pearce
S Carr H Sanders
J Collacott G W Venning
J Downing K N Williams
R Glanville R G Woolcock
D E Greening C J Edwards
J Greening R A Derges
Reverend Dr C G Hardwick(resigned 17 October 2021) D A Turner

New Trustees are elected by the Board of Trustees and serve until retirement.

Aims and organisation

The object of the charity is to distribute income arising from the Estate of Mr N Watts (deceased) in accordance with the terms of the deceased’s Will and Scheme set up in 1985.

The charity has complied with the duty in section 4 of the 2011 Charities Act to have due regard to public benefit guidance published by the Charity Commission when reviewing the Trust's aims and objectives and in planning future activities.

Reserves Policy

The Trustees' policy is to invest surplus reserves available for distribution in investments which provide a reasonable rate of return without compromising on accessibility.

The Trustees' policy in selecting individuals to receive grants is to consider all applications submitted on merit and to make grants where the constraints of the scheme are met.

Review of progress and achievements

The Brownsdon Estate distributed £10,315.20 to various applicants.

The Tremayne Estate made no distributions this year.

The Divinity Fund distributed £83.12 to the Tavistock United Reformed Church

Approved by the Trustees on 27 September 2022 and signed on their behalf by:

R BIRD

on behalf of the Board of Trustees

2

Nicholas Watts' Charity

Statement of Trustees' Responsibilities

Year ended 30 June 2022

Charity law requires the Trustees to prepare a Receipts and Payments account and Statement of Assets and Liabilities for each financial year which properly present the charity’s receipts and payments for the year together with its assets and liabilities at the end of the period, and adequately distinguish any material special trust or other restricted fund of the charity. In preparing those financial statements the Trustees are required to:

The Trustees are responsible for keeping 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. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities

Approved by the Trustees on 27 September 2022 and signed on their behalf by:

R BIRD

For and on behalf of the Board of Trustees

3

Nicholas Watts' Charity

Independent Examiner’s Report to the Trustees of the Nicholas Watt's Charity

Year ended 30 June 2022

I report on the accounts of the Trust for the year ended 30 June 2022, which are set out on pages 5 to 9.

Responsibilities and basis of report

The charity's Trustees are responsible for the preparation of the accounts. The charity's Trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner's statement

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a 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 the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair' view and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:

I have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

D Leslie FCA

Francis Clark LLP Chartered Accountants PLYMOUTH

29 September 2022

4

Nicholas Watts' Charity

William Brownsdon Estate

Receipts and Payments Account

Year ended 30 June 2022

Receipts
Income from restricted fund assets
30,552.38 COIF income units
67,369.29 M&G Charity Multi Asset fund
TSB Bank deposit account
Total receipts
Payments
Direct charitable expenditure
Distributions during the year
Governance Costs
Clerk's salary
Clerk's expenses
Accountancy
Advertising
Sundry
Total payments
Surplus of receipts over payments
Purchase of investments
Fund balances brought forward
Fund balances carried forward
Less liabilities
Liquid Funds available for distribution
Investments available for distribution		 £
£
£
£
16,418.55
15,997.22
2,223.13
1,818.92
146.45
270.14
18,788.13
18,086.28
10,315.20
10,346.95
1,350.00
1,350.00
131.25
131.25
711.00
697.50
70.40
88.00
182.55
-
2,445.20
2,266.75
12,760.40
12,613.70
6,027.73
5,472.58
-
(50,000.00)
39,481.95
84,009.37
45,509.68
39,481.95
(2,259.25)
(2,201.25)
43,250.43
37,280.70
90,507.64
93,714.94
2021
2022		 £
£
£
£
16,418.55
15,997.22
2,223.13
1,818.92
146.45
270.14
18,788.13
18,086.28
10,315.20
10,346.95
1,350.00
1,350.00
131.25
131.25
711.00
697.50
70.40
88.00
182.55
-
2,445.20
2,266.75
12,760.40
12,613.70
6,027.73
5,472.58
-
(50,000.00)
39,481.95
84,009.37
45,509.68
39,481.95
(2,259.25)
(2,201.25)
43,250.43
37,280.70
90,507.64
93,714.94
2021
2022
18,086.28
10,346.95
2,266.75
12,613.70
5,472.58
(50,000.00)
84,009.37
39,481.95
(2,201.25)
37,280.70
93,714.94

5

Nicholas Watts' Charity

Tremayne Estate

Receipts and Payments Account

Year ended 30 June 2022

Receipts
Income from restricted fund assets
12,831.39 COIF income units
1,303.17 COIF income units
TSB Bank deposit account
Total receipts
Payments
Direct charitable expenditure
Distributions during the year
Governance Costs
Clerk's salary
Clerk's expenses
Accountancy
Advertising
Sundry
Total payments
Surplus of receipts over payments
Fund balances brought forward
Fund balances carried forward
Less liabilities
Funds available for distribution		 £
£
£
£
6,895.58
6,718.52
700.33
682.34
61.90
56.33
7,657.81
7,457.19
-
2,329.84
450.00
450.00
43.75
43.75
237.00
232.50
70.40
88.00
182.55
-
983.70
814.25
983.70
3,144.09
6,674.11
4,313.10
32,652.27
28,339.17
39,326.38
32,652.27
(753.75)
(733.75)
38,572.63
31,918.52
2022
2021

6

Nicholas Watts' Charity

Divinity Fund

Receipts and Payments Account

Year ended 30 June 2022
Income from restricted fund assets
158.75 COIF income units
Total income for the year
Direct charitable expenditure
Distributions during the year
Surplus of receipts over payments
Fund balances brought forward
Fund balances carried forward		 2022
2021
£
£
85.31
83.12
85.31
83.12
(83.12)
(81.49)
2.19
1.63
83.12
81.49
85.31
83.12

7

Nicholas Watts' Charity

Statement of Assets and Liabilities

Year ended 30 June 2022

Restricted funds Investment Assets

Restricted funds
Investment Assets
Brownsdon Estate
1,755.28 COIF income units
67,367.29 M&G income units
Monetary Assets
Cash balances on receipts and payments accounts
Brownsdon
Tremayne
Divinity
Liabilities now due for payment
Brownsdon -
Independent examination
Clerk's salary
Clerk's expenses
Tremayne -
Independent examination
Clerk's salary
Clerk's expenses
Endowed Funds
Non - monetary assets
Endowed funds held for investment purposes:
Brownsdon Estate
28,797.10 COIF income units
Tremayne Estate
12,831.39 COIF income units
1,303.17 COIF income units
Divinity Fund
158.75 COIF income units
Signed byR BIRD		 Costs
to date
£
20,000.00
50,000.00
Costs
to date
£
30,800.58
14,572.03
4,196.22
1,164.92
50,733.75		 Market Value
Market Value
2022
2021
£
£
31,958.73
33,778.26
58,548.91
59,936.68
90,507.64
93,714.94
2022
2021
£
£
45,509.98
39,481.95
39,326.38
32,652.27
85.31
83.12
84,921.67
72,217.34
778.00
720.00
1,350.00
1,350.00
131.25
131.25
2,259.25
2,201.25
260.00
240.00
450.00
450.00
43.75
43.75
753.75
733.75
Market Value
Market Value
2022
2021
£
£
524,314.56
554,165.63
233,623.68
246,924.70
23,727.08
25,077.94
2,890.39
3,054.95
784,555.71
829,223.22
829,223.22

On 27 September 2022

For and on behalf of the board of Trustees

8

Nicholas Watts' Charity

Notes to the accounts

Year ended 30 June 2022

1 Accounting policies

General

The accounts have been prepared on a receipts and payments basis and comply with section 133 of the Charities Act 2011.

2 Trustee’s Remuneration and Expenses

No remuneration nor expenses was paid to any of the Trustees during the year.

3 Brownsdon Estate distribution

The Brownsdon Estate made the following distributions during the year:

Mr R Bradley
Mr R Brimacombe
Mr N Sellers
Mr Rich		 £
1,500.00
1,500.00
750.00
6,565.20
10,315.20

4 Tremayne Estate distribution

The Tremayne Estate did not make any distributions during the year:

5 Divinity Fund distribution

The Divinity Fund distributed £83.12 to the Tavistock United Reformed Church.

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