The Eric W. Vincent Trust Fund Registered Charity no. 204843 Trustee Report and Aceoumts for the year ended 31 March 2022
The Eric W. Vineent Trust Fund Aceoumts for the year ended 31 March 2022 Contents Page Ti'uste¢ Report Receipts and Payment5 Account Stateinent of Assets and Liabilities Notes to the accounts Independent Examiner's Report P%kge I
The Erie W. VincentTrust Fund Registered Charity No. 204843 Trustees, Report for the year ended 3 1st March 2022 Charity Principal AddTess.' PO BOx 17146 Hal¢sowen B62 2LF The trustees presentthtir annual report for the year ended 31st March 2022 under the Charities Act 2011, togethei with the accoiints for the year. Trustees.. The trJstees who held offjce during the year were as follows.. MTS D Williams Ichairnian) Mr S G Perry (Deputy Chaimianl MrA RBirch Mrs M M England Mrs M J Harding Mrs M Benjamin Mr P Stobbs Mrs B H Hill Ms S Worrall Mr A H¢nshaw Structure, Governanee ind M2nag¢ment: The Charity was established by a trust deed on 22d May 19.f4. The Charity is governed by trustees who fornulate the strategy and policies. New trustte8 are clcctcd at trustcc meetings. None of the trustees receives payment for their services. Day-to-day matters are Conducted by a paid Clerk to the Trustees. Objects #nd Activities: The trustees have discretinn to apply the inwme for the bencfit, preferjnent, assistance or advancement of religious, educational, cultural nr othcy charitAble objects, including the benefit and welfare of all age groups wheTe t>e6d exists. All the activities during the year were in makIg grants availablc to snstitulions for th¢ir work on projects or to institution5 for the welfare and benefit of individuals. Public Benefit Stfttement: The Charity trustees are satisfied that they have complied with their duty to have due regard to the giiidance on public benefit publEshed by the ChaTity Commission. ir exercising their powers and dutie5. Forty-seven grdllts were tndde to institutions for their charitable cause5. rangillg between £350 and £1 000. Twenty-three grants were made io insiituiions for the benefit of individuals, ran8iJig between £100 and £150. The total paid out in grdnts during the yeaT was £31,379.26. (£28,304.26 to organisations and £3075.00 to individuals), as shown in the notes to the a¢¢ounts. Th¢ trustees were encouraged to See the increased number of grant applications following the reltiOn of precautions and restrictions resulting from the pdeMic. The trustees wntinued to hold th¢irregulaT Jneeling5 throughDut the yt2r, some on Zoom and soine face to face. We nceded to find a new rneeting place as OUF Ptevious venue changed its bookittg poli¢y for external orgaT]isatiOllS, and we are now happily settled in Dame Elizabeth Hall, Firbank Close, B30 IUA, for four of our Six ¥neetitLgs ea¢h year. At the request of trustees wlio have a distance to travel to meetings it has be¢n decided that oT meetings in NovembeT alld January will continue to be held on ZooTn. Reserves.. It 15 the policy of the Charity to InaInta unrc5triGted fund& which &re the free reserves for the Charity, at a level which equates approximately to Six Tnonths. unrestri¢t¢d expenditure. These rcserves provide suffi¢ient funds to cower management, administration #nd support wsts and also to respond to emergency applications f(Ir grants which arise frorn time to tie. P&£e I
The Eric W. Vincent Trust Fund
Receipts and Payments Account for the year ended 31 March 2022
| 2022 EndowmentUnrestricted Funds Fnuds Receipts £ £ Investment Income - Dividends and Interest 290 48,519 Legacies 290 48,519 Investment Portfolio Fund Sales 70,673 Total Receipts 70,963 48,519 Payments Grants Paid Grants Paid for individuals (note I) 3,075 Grants Paid for institutions (note l) 28,304 31,379 Governance Costs Portfolio Management Fees 3,409 9,406 Clerk's salary 5,500 Room Hire 80 PO Box Delivery Annual Fee 360 Printing, postage, stationery and sundries 122 Insurance 151 Utilities Allowance 180 Independent Examiner's Fees 2,370 Payroll Services 398 Bank Charges 170 Subscriptions 106 Miscellaneous 3,409 18,843 Investment Portfolio Fund Purchases 66,477 Total Payments 69,886 50,222 Net Receipts (Payments) for the year 1,077 (1,703) Bank and Cash Balances Brought Forward 66,555 72,178 Carried Forward 67,632 70,475 |
2022 2021 Total Total £ £ 48,809 44,199 48,809 44,199 70,673 246,489 119,482 290,688 3,075 1,650 28,804 22,889 31,379 24,539 12,815 10,627 5,500 5,000 80 360 353 122 286 151 151 180 216 2,370 2,328 398 119 170 136 l06 105 22,252 19,321 66,477 238,891 120,108 282,751 (626) 7,937 138,733 130,796 138,107 138,733 |
|---|---|
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The Eric W. Vincent Trust Fund
Statement of Assets and Liabilities as at 31 March 2022
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | |||
| Bank and Cash Balances | ||||||
| Bank Account | 63,010 | 64,621 | ||||
| Cash in hand | 64 | 86 | ||||
| Investment Fund Cash Deposits | ||||||
| - Client Account | 67,632 | 66,555 | ||||
| - Income Account | 7,401 | 7,471 | ||||
| Total Cash Balances | 138,107 | 138,733 | ||||
| - Endowment Fund (Investment Fund) | 67,632 | 66,555 | ||||
| - Unrestricted | 70,475 | 72,178 | ||||
| Investment Assets - Endowment Funds (note 2) | ||||||
| Investment Fund - Investments Held | 1,790,409 | 1,667,567 |
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
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Mr S. Perry
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Mrs D. Williams - Chairman
Date: 20[th ] July 2022
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The Eric W. Vincent Trust Fund
Notes to the accounts
for the year ended 31 March 2022
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 no 47 23 70 70 2022 £ 28,304 3,075 31,379 31,379 |
2021 no 42 9 51 51 £ 22,889 1,650 24,539 24,539 |
2021 no 42 9 51 51 £ 22,889 1,650 24,539 24,539 |
|---|---|---|
| 24,539 |
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 | |
| 2022 | 2021 | |
| £ | £ | |
| Market V aJue Brought Forward at 1stApril | 1,667,567 | 1,355,396 |
| Acquisitions | 66,477 | 238,891 |
| Sale Proceeds | (70,673) | (246,489) |
| Gain in Market Value on Disposals | 21,877 | 45,189 |
| Gain (Loss) in Market Value on Investments Retained | 105,161 | 274,850 |
| Market Value Carried Forward at 31stMarch | 1,790,409 | 1,667,567 |
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Independent Examiner's Report to the The Eric W. Vineent Trust Fund (registered charity no. 204843) on the accounts for the year ended 31" March 2022 set out on pages 3 to 5 Respective Responsibilities of Trustees and the Examiner The charity's trustees are rpOnSIble forthe preparati(>n 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 Ilhe Aet)) and tliat ttn independent examination is needed. It is our responsibility to.. examine ihe accoiints (under section 145 of the Act). to follow the procedures laid down in the generdl directions given by tlie Charity Commission (under section 145(5)(b) of the Act., and to state wl)ether 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 exa]nination includes a review ofthe accoLIDting records kept by the charity and a comparison of the accounts presented with those records. It also includes eonsideration of any unLisual items or disGlosures in the accounts nd seeking explanationg from the tnistees concerning any siicli matters. The procedures undertaken do not provide the evidence that woiild be required in an audit and therefor¢ we do not express an audTt opinton 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 exaTninalion, no matter has coine to our attention, i} which gives us reasonable cause to believe, that in any material respeet, the trustees have not met the requirements to ensure tliat.. proper accounting records are kept (in accordance witli section 130 of the Act) and accounts are prepared whicli agree with the accounting records and comply with the accounting requirements of the act; or li} to which in OLir opinion. attention slioLild be drawn in order to enable a proper understanding of the aocounls to be reached. Katherine Jone$ Institute of Chartered Aeeountants in Englanij & Wales Cutter & Co. Ltd trading as Martin G. Clark & Co. 140 New Road Aston Fields Bronisgrove Worcs. B60 2LE Date: 20" July 2022 Page 5