**Nicholas Watts' Charity Brownsdon and Tremayne Estate** **Receipts and Payments Accounts Year ended 30 June 2023 Registered Charity number: 203271** ## **Nicholas Watts' Charity** ## Financial Statements Year ended 30 June 2023 |**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 2023 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 Melville Building East Unit 18 23 Royal William Yard Plymouth Devon PL1 3GW ## **Bankers** TSB Bank Plc Bedford Square TAVISTOCK Devon PL19 0AG 1 ## **Nicholas Watts' Charity** Trustees' Report ## Year ended 30 June 2023 The Trustees present their report and the Receipts and Payments Accounts of the charity for the year ended 30 June 2023. 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| |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 the 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 £6000.00 to various applicants. The Tremayne Estate distributed £1,575.00 in the year. The Divinity Fund distributed £85.31 to Tavistock Parish Church during the year. Approved by the Trustees on 19 September 2023 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 2023 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: - a) select suitable accounting policies and then apply them consistently; - b) make judgements and estimates that are reasonable and prudent; - c) prepare the account and statement on the going concern basis unless it is inappropriate to presume that the activities of the charity will continue 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 19 September 2023 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 2023 I report on the accounts of the Trust for the year ended 30 June 2023, 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: - examine the accounts under section 145 of the Charities Act, - to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and - to state whether particular matters have come to my attention ## **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: - accounting records were not kept in accordance with section 130 of the Charities Act or - the accounts do not accord with accounting records 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 12 April 2024 4 ## **Nicholas Watts' Charity** William Brownsdon Estate Receipts and Payments Account Year ended 30 June 2023 |**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**|**£**
**£**
**£**
**£**
**16,644.93**
16,418.85
**2,357.86**
2,223.13
**366.17**
146.45
**19,368.96**
18,788.43
**6,000.00**
10,315.20
**1,350.00**
1,350.00
**131.25**
131.25
**778.50**
711.00
**296.81**
70.40
**214.35**
182.55
**2,770.91**
2,445.20
**8,770.91**
12,760.40
**10,598.05**
6,028.03
**-**
-
**45,509.98**
39,481.95
**56,108.03**
45,509.98
**(2,298.75)**
(2,259.25)
**53,809.28**
43,250.73
**91,918.04**
90,507.64
**2022**
**2023**|**£**
**£**
**£**
**£**
**16,644.93**
16,418.85
**2,357.86**
2,223.13
**366.17**
146.45
**19,368.96**
18,788.43
**6,000.00**
10,315.20
**1,350.00**
1,350.00
**131.25**
131.25
**778.50**
711.00
**296.81**
70.40
**214.35**
182.55
**2,770.91**
2,445.20
**8,770.91**
12,760.40
**10,598.05**
6,028.03
**-**
-
**45,509.98**
39,481.95
**56,108.03**
45,509.98
**(2,298.75)**
(2,259.25)
**53,809.28**
43,250.73
**91,918.04**
90,507.64
**2022**
**2023**| |---|---|---| |||18,788.43| |||10,315.20
2,445.20| |||12,760.40| |||6,028.03
-
39,481.95| |||45,509.98
(2,259.25)| |||43,250.73| |||90,507.64| 5 ## **Nicholas Watts' Charity** Tremayne Estate Receipts and Payments Account Year ended 30 June 2023 |**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**|**£**
**£**
**£**
**£**
**6,990.53**
6,895.58
**709.97**
700.33
**213.36**
61.90
**7,913.86**
7,657.81
**1,525.00**
-
**450.00**
450.00
**43.75**
43.75
**259.50**
237.00
**148.39**
70.40
**214.35**
182.55
**1,115.99**
983.70
**2,640.99**
983.70
**5,272.87**
6,674.11
**39,326.38**
32,652.27
**44,599.25**
39,326.38
**(766.25)**
(753.75)
**43,833.00**
38,572.63
**2023**
**2022**| |---|---| 6 ## **Nicholas Watts' Charity** Divinity Fund Receipts and Payments Account Year ended 30 June 2023 |**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**|**2023**
**2022**
**£**
**£**
**86.48**
85.31
**86.48**
85.31
**(85.31)**
(83.12)
**1.17**
2.19
**85.31**
83.12
**86.48**
85.31| |---|---| 7 ## **Nicholas Watts' Charity** Statement of Assets and Liabilities Year ended 30 June 2023 ## **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 by **_R 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**
**2023**
**2022**
**£**
**£**
**33,012.08**
31,958.73
**58,905.96**
58,548.91
**91,918.04**
90,507.64
**2023**
**2022**
**£**
**£**
**56,108.03**
45,509.98
**44,599.25**
39,326.38
**86.48**
85.31
**100,793.76**
84,921.67
**817.50**
778.00
**1,350.00**
1,350.00
**131.25**
131.25
**2,298.75**
2,259.25
**272.50**
260.00
**450.00**
450.00
**43.75**
43.75
**766.25**
**753.75**
**Market Value**
**Market Value**
**2023**
**2022**
**£**
**£**
**541,595.70**
524,314.56
**241,323.80**
233,623.68
**24,509.11**
23,727.08
**2,985.66**
2,890.39
**810,414.27**
784,555.71|| ||||784,555.71| ||||| On 19 September 2023 For and on behalf of the board of Trustees 8 ## **Nicholas Watts' Charity** Notes to the accounts Year ended 30 June 2023 ## **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 L Higgs
Mr N Sellers
Mr A Richards|£
2,000.00
2,000.00
2,000.00| |---|---| ||6,000.00| ## **4 Tremayne Estate distribution** The Tremayne Estate made the following distributions during the year: |Mrs Rogers|£
1,525.00| |---|---| ||1,525.00| ## **5 Divinity Fund distribution** The Divinity Fund distributed £85.31 to Tavistock Parish Church during the year. 9