**The Eric W. Vincent Trust Fund**
**Registered Charity no. 204843**
**Trustee Report and Accounts**
**for the year ended 31 March 2021**
**The Eric W. Vincent Trust Fund**
## **Accounts**
**for the year ended 31 March 2021**
||**Contents**||
|---|---|---|
|||**Page**|
|Trustee Report||**1 - 2**|
|Receipts and Payments Account||**3**|
|Statement of Assets and Liabilities||**4**|
|Notes to the accounts||**5**|
|Independent Examiner’s Report||**6**|
# **The The Eric W Vincent Trust Registered Charity No. 204843**
## **Trustees’ Report for the year ended 31[st] March 2021**
Charity Principal Address: PO Box 17146 Halesowen B62 2LF
The trustees present their annual report for the year ended 31[st] March 2021 under the Charities Act 2011, together with the accounts for the year.
Trustees
The trustees who held office during the year were as follows:
Mrs D Williams (Chairman) Mr S G Perry (Deputy Chairman) Mr A R Birch Mrs M M England Mrs M J Harding Mrs M Benjamin Mr P Stobbs Mrs B H Hill Ms S Worrall Mr A Henshaw (elected 20[th] September 2020)
Structure, Governance and Management
The Charity was established by a trust deed on 22[nd] May 1954. The Charity is governed by trustees who formulate the strategy and policies. New trustees are elected at trustee meetings. None of the trustees receive payment for their services. Day-to-day matters are conducted by a paid clerk to the trustees.
## Objects and Activities
The trustees have discretion to apply the income for the benefit, preferment, assistance or advancement of religious, educational, cultural or other charitable objects, including the benefit and welfare of all age groups where need exists.
All the activities during the year were in making grants available to institutions for their work on projects or to institutions for the welfare and benefit of individuals.
## Public Benefit Statement
The Charity trustees are satisfied that they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission, in exercising their powers and duties.
Forty-two grants were made to institutions for their charitable causes, ranging between £250 and £1000.
**Page 1**
**The The Eric W Vincent Trust Registered Charity No. 204843**
## **Trustees’ Report for the year ended 31[st] March 2021**
Nine grants were made to institutions for the benefit of individuals, ranging between £100 and £150.
The total paid out in grants during the year was £24,539, as shown in the notes to the accounts. There were twelve fewer successful applications than during the previous year, possibly as a result of restricted activity of institutions and their individual members of staff during lockdowns.
The trustees continued to hold their regular meetings despite the restrictions resulting from the pandemic. Two meetings took place via telephone conference calls and the other four by Zoom group meetings.
## Reserves
It is the policy of the Charity to maintain unrestricted funds, which are the free reserves for the Charity, at a level which equates approximately to six months’ unrestricted expenditure. These reserves provide sufficient funds to cover management, administration and support costs and also to respond to emergency applications for grants which arise from time to time.
Approved by the Trustees and signed on their behalf:
_________________________________________ Mrs D Williams
_________________________________________ Mr S G Perry
Date approved: ____________________________
**Page 2**
## **The Eric W. Vincent Trust Fund**
## **Receipts and Payments Account**
**for the year ended 31 March 2021**
|**2021**
**Endowment Unrestricted**
**Funds**
**Funds**
**Receipts**
**£**
**£**
Investment Income - Dividends and Interest
710
43,489
Legacies
-
-
_______
________
710
43,489
Investment Portfolio Fund Sales
246,489
-
_______
________
**Total Receipts**
**247,199**
**43,489**
**Payments**
Grants Paid
Grants Paid for individuals (note 1)
-
1,650
Grants Paid for institutions (note 1)
-
22,889
_______
________
-
24,539
Governance Costs
Portfolio Management Fees
72
10,555
Clerk’s salary
-
5,000
Room Hire
-
-
PO Box Delivery Annual Fee
-
353
Printing, postage, stationery and sundries
-
286
Insurance
-
151
Utilities Allowance
-
216
Independent Examiner’s Fees
-
2,328
Payroll Services
-
119
Bank Charges
-
136
Subscriptions
-
105
Miscellaneous
-
-
_______
_______
72
19,249
Investment Portfolio Fund Purchases
238,891
-
_______
_______
**Total Payments**
**238,963**
**43,788**
_______
_______
**Net Receipts (Payments) for the year**
**8,236**
**(299)**
**Bank and Cash Balances**
Brought Forward
58,319
72,477
_______
_______
**Carried Forward**
**66,555**
**72,178**
|**2021**
**Total**
**£**
44,199
-
_______
44,199
246,489
_______
**290,688**
1,650
22,889
_______
24,539
10,627
5,000
-
353
286
151
216
2,328
119
136
105
-
_______
19,321
238,891
_______
**282,751**
_______
**7,937**
130,796
_______
**138,733**
|**2020**
**Total**
**£**
57,484
-
_______
57,484
490,376
_______
**547,860**
1,200
30,077
_______
31,277
11,915
4,581
125
342
177
151
216
2,262
119
149
102
-
_______
20,139
501,741
_______
**553,157**
_______
**(5,297)**
136,093
_______
**130,796**|
|---|---|---|
**Page 3**
## **The Eric W. Vincent Trust Fund**
## **Statement of Assets and Liabilities**
## **as at 31 March 2021**
|**2021**
**£**
**£**
**Bank and Cash Balances**
Bank Account
64,621
Cash in hand
86
Investment Fund Cash Deposits
- Client Account
66,555
- Income Account
7,471
_______
**Total Cash Balances**
138,733
_______
- Endowment Fund (Investment Fund)
66,555
- Unrestricted
72,178
_______
**Investment Assets – Endowment Funds (note 2)**
Investment Fund – Investments Held
1,667,567|**2020**
**£**
**£**
64,870
72
58,319
7,535
_______
130,796
_______
58,319
72,477
_______
1,355,396
|**£**
130,796
|
|---|---|---|
The trustees approve the financial information which comprises the receipts and payments account, balance sheet and the related notes. They acknowledge their responsibility for the compilation of the financial information.
## **Signed and Approved on Behalf of the Trustees**
Mrs D. Williams - Chairman Mr S. Perry
**Date: ______________________**
**Page 4**
## **The Eric W. Vincent Trust Fund Notes to the accounts**
## **for the year ended 31 March 2021**
## **1. Grants Payable**
The number of grants awarded and amounts payable in the year were as follows:
|For the benefit of institutions
For the benefit of individuals *
Grants paid in the year||**2021**
**no**
**£**
42
22,889
9
1,650
_______
________
51
24,539
_______
_______
51
24,539
||**2020**
**no**
**£**
57
30,077
6
875
_______
_______
63
30,952
_______
_______
66
31,277
|
|---|---|---|---|---|
||
||
||
* In 2020, 9 grants were made for the benefit of individuals, but one was not taken up and 2 were returned from the previous year.
By the end of the current year, all grants authorised and committed to, were paid.
## **2. Investment Portfolio - Investments held**
|**Investment Portfolio - Investments held**|||
|---|---|---|
||**Year ended**|**Year ended**|
||**31 March**|**31 March**|
||**2021**|**2020**|
||**£**|**£**|
|Market Value Brought Forward at 1stApril|1,355,396|1,555,020|
|Acquisitions|238,891|501,741|
|Sale Proceeds|(246,488)|(490,376)|
|Gain in Market Value on Disposals|45,188|3,736|
|Gain (Loss) in Market Value on Investments Retained|274,580
|(214,725)
|
|Market Value Carried Forward at 31stMarch|_______
1,667,567
_______|_______
1,355,396
_______|
**Page 5**
## **Independent Examiner's Report to the**
## **The Eric W. Vincent Trust Fund (registered charity no. 204843) on the accounts for the year ended 31[st] March 2021 set out on pages 3 to 5**
## **Respective Responsibilities of Trustees and the Examiner**
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 (2) of the Charities Act 2011 (the Act)) and that an independent examination is needed.
It is our responsibility to:
- examine the accounts (under section 145 of the Act);
- to follow the procedures laid down in the general directions given by the Charity Commission (under section 145(5)(b) of the Act; and
- to state whether particular matters have come to our attention.
## **Basis of Independent Examiner’s Statement**
Our examination was carried out in accordance with general directions given by the Charity Commissioners. 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 therefore we do not express an audit opinion on the accounts as to whether the accounts show a true and fair view. The report is limited to those matters set out in the statement below.
## **Independent Examiner’s Statement**
In the course of our examination, no matter has come to our attention,
- i) which gives us reasonable cause to believe, that in any material respect, the trustees have not met the requirements to ensure that:
- proper accounting records are kept (in accordance with section 130 of the Act) and
- accounts are prepared which agree with the accounting records and comply with the accounting requirements of the act; or
- ii) to which in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
________________________________________________
**Katherine Jones Institute of Chartered Accountants in England & Wales Cutter & Co. Ltd trading as Martin G. Clark & Co. 140 New Road Aston Fields Bromsgrove Worcs. B60 2LE**
**Date:** 21 July 2021
**Page 6**