The Erlc W. Vkneent Trust Fund Registered ChArity no. 21M843 Trustee Report ard Aeeouttts for the year ended 31 March 2024
The Erie W. Vlncent Trust Fund Accounts for the year ended 31 MAreh 2024 Contents Page Trustee Rep)rt Income and Expenses Account Statement of Assets and Liabilities Notes to the accounts Irtdependent ExAmitier's Rq)ort
The Erie W. Vln¢eJJt Th15t Fund Registered Charity No. 204843 Tntstees. Rwrt for the year ended 31 March 2024 ChaTAty Principal Add. PO Box 17140 Halesowen B62 2LF The trust¢¢s pr¢s¢nt their annual reportfor the year¢llded 31 March 2024 unikT the Charities Act 201 I, together with the ac¢ounts for the year. Trnstees: The trustees who held office durymg the year were as follows: Mrs D Williams (Chainnan) Nfr S G Peny (Deputy Chairman- Finan¢¢) Mr A Henshaw IDeputy ChainnaD- Technology) Mrs B H Hill (Deputy Cha]rn- Grants) MrARBiwh Mrs M M England MTS M J Harding Mrs M Benjami Mr P Stobbs (resigned 19 July 2023) Ms S WO11 (r1glled 15 November 2023) Structurè GoverDan¢e Management. The clwity established by atrust deed on 22 May 1954. The chaTity is governedby t who fonnulats the strategy and poli¢i¢s. Non¢ of th¢ twstees rettives payment for his or ber services. Day-to-day matters are ouducted by apaid Clerk to tbe Te¢s. the tsust's sole employee. Object$ and A¢tivities: The twst¢¢s JJav¢ dis¢retion to apply the income for the benefiL prefern)en¢ &gsistance or advancement of religious, educattonai. Cultural or other charitable objects, including the benefit and welfare of all ag¢ groups where need exists. All the activiti¢s duting Éh¢ yearw¢r¢ in ruaking grdnts available to institutions fortheir work OIL projects to bcnefit the cornmty or to InstitionS for the welfare and benefit of individualb". Publle BeDeflt Statement: The chority tntee$ are satisfied that they have complied with their duty to have due regard to the guidance on public betlefit published by th¢ Charity Con)m1wo in exercising th¢ir powers and duties. Sixty-three grants (12 more than during the previous yw) were nMde to institutions for their chaTitable causes. ranging bettveen £258 and £1,000. One application was Teiethd alld thre¢ w¢re d¢f¢rr¢d Fourteen * (nine more than the pr¢vious year) were given to institionS for th¢ benefit of individuals. ranging betw¢en £100 and £175. The total paid out io grants during the year vths £33,814.00 (£31.789.00 to orgaBi1onS and £2,025.00 to individua]s) as shown in the notes to the acc¢)unts. The trusl¢es were concerned durtng th¢ previous year that the number of applicatiolls was droppin& but this concern is no longer appropriate. The Clerk's investigations disclosed many staff¢haDg¢s in orgallisations which had appliedto thetTusi fromtime to time, and0r1changeS wbich had aris¢n of the pandemic.
The Eric W. Vm¢ent Trn5t Fund Other InformAtion: The tnLsfr¢s reluctalltIy accepted the resigtia1ions of two of their number because both were now bas¢d nljIY outsid¢ our are4 one for family r¢asofjs and one forprofessional r¢&sons. We were sad to see them go. and very gratefvl for their contributions during their lernL8 as tStees. By the end of the fiDancial year ttyo potential replacement trustees had been id¢ntifi¢d and they were be appointed at the meeting of the rLew financial year, in May 2024. The trustee5 continued to hold their r¢gular meetings, May. April, September and Mareh An persoD at Dame Elizabeth Hall, FiTbank Close. B30 IUA. and November and January remotely. They have Cothinued to review their po]icies and intend major r¢visions during the next fllmncial y. During th¢ year tbe Tnt'S website tvas aclivatsl after some issues resolved by Mr Henshaw. The &ldress is: ii".cThcThTr"iiiccnttrust.or The Tt also has a new email address: info.LL'ericwiwincenrtrust.or(r Reserves: It is the policy of the ChaTity to maintain unrestricted fimds, which are the free reserves for the Charity, at a evel which equates approximately to one yw's unrestricted expenditsre. These reserves pmvide sufficient fimds to cov¢r markagem¢n¢ admiDtstration and support ¢osts and also to enable the Trust to Tespond tr) ellrgenCy applications for grants which lse from time to time.
The Eric W. Vincent Trust Fund IM¢ome attd Expenses Aecount for the year ended 31 M¥rch 2024 21)24 Endowment Unrestricted Fwids Funds 21123 Totsl Totsl IDCOtiie Investsnent ltteome- Dividends 2nd Interest - Interest on Cash Deposits 814 56390 63 57204 63 58.669 L¢ga¢i¢s 814 56.453 57267 58,669 Grants Payabl¢ for individuals (note l) (Irants Payable for itistitijttoni (note l) 2,W25 31,789 33,814 2,025 31,789 33.814 625 26,065 26.690 Portfolio Manag¢ment Fee& Clerk's salary ROO Hire PO Box Delivery AJJnual Fee Priniing, p08tag4 8rauon¢ry 2nd swMlri¢s Insurnice Utilities Allowanc¢ Travel Expens¢s 12.094 12,094 12.422 6,1(M) 160 378 198 155 216 20 1400 359 169 122 22.699 6,800 158 396 ,106 155 216 158 396 I,ioo 155 216 1520 389 160 135 12.035 2,520 389 Paymll Servi¢¢5 Bank Charges Subs¢riptioDs 135 24.129 11094 Tot Resollrces E4>eDded 12.094 45.849 57.943 Net ltttffttting (OKtgti1* Resollrees for tbe year 11280 10,6(H 676 9280 arket v81 11545) 96,976 (2.545) 96.976 94.431 78.016 unr]Sed 126515 Net sUlUs (Deficit) R¢serves Brought ForwBrd Reserves Canied Forrd 83.151 1,719,470 1 802.621 10.604 91.811 102,415 93.755 1.811281 1905.036 {117,235) 1928 516 .811281
The Erie W. Vin¢entTrustFund Sta¢ement of Assets and Liabilities for the year ended 31 Marelk 2024 2023 BaDk and Casb BaJaDces 94.000 58 82963 45 Cash in hand Inv¢slD]eut Fund Casb D¢po8its - C]ient Account - Ineome A¢nt 24213 8J57 8.803 Totsl Cash Balallees 126.628 161280 - Elldowrneut Fund . UDre6tri¢ted 24213 102,415 69.469 91.811 InvestD]ent Assets- EDdoThryllentFwids 2) lttvesthient Fund- InV¢SÉets Held 1.778,408 1.650.(M)I Trtal assets 1.905.036 1,811.281 Reserves Endowrnellt RL%erve Unrestricted Resctv 1,802,fj21 102,415 1,905,036 1.719.470 91.811 1.811281 The trnstees approve the financial infommtion whicb conwrises the Income attd Ewtlses aceoutt¢ Stat¢¢llt of Assets and Liabilities aud thE rElated not¢& They acknowkdge theirrtsponsibility for the COU11all0 of the finattciaE inforn?atiotL Sfigned and Apprtyv¢d Behalf of the Tr#st¢ - Chairroan Mrs. Pury Date: 17 'a Jc2s- /? /,/gf
The Eric W. Vlnceat Trust Fwid Y4otes to the accounts for the year ended 31 M#reh 2024 Grants Payable The numb¢T of grants awarded and arfjounts payable in the year w¢ff as follows: 2024 2023 llo no For the benefit of ?nstitutioiJs For the ben¢fit of illdividuals 49 14 31.789 2.025 46 26.065 625 63 33,814 51 26,690 Grn)ts paid in the year 63 33,814 51 26.690 By the end of the current year, all grants authori8ed and committed to, were p8t& Investment Portfollo- Investments held Ye¥r ended Year ended 31 Marcb 31 March 2024 2023 Market Valu¢ Brought Forward at l April Aqulsitions Sale Proceeds Gaio in Market Value on Disposals Gain (Loss} in Market Value on Inv&8tments Retained M&ket Value Carried FoAvrnrd at 31 March 1,650.001 1,790,409 294,479 201J80 (260,503} (215,273) (2,545) 78,016 96,976 (204,531) 1,778,408 1.650,001
IndeptndeDt Examiner'5 Report to the The Erlc W. Villcent Trnst Fund (registered charity no. 2fJ4843) on the accounts for the ye#r ended 31 March 2024 set out on pages 3 to S Respective Respon5ibiJities of Trnstees 4nd the Ex4miner The cbarity's trustees ar¢ r¢5ponsible for th¢ PT¢paration of the accoun The ¢haTAty's trustees ¢onsider that an audit is not required for this year (ullder s¢ction 144 (2) of th¢ Clwitie5 Act 2011 (tbe Act)) arld that all independent examination is n¢¢ded. It is Ourresponsi]Iity lo: ¢xamin¢ the accounts (under section 145 of th¢ Act). to followtheprocedur¢s laid down in the general directions given bytheChaTity Commission (unders¢¢tion 145(5)(b) of the ACL and to state wbetherparticular matters have come to our att¢ntion. Basis of Independent Examiner's Ststement Our ¢xamination was Caled out in accordattc¢ with g¢n¢ral directions given by tbe cIlty Commissioners. AD examination includes arevi¢w ofthe accountiDgrecords keptbythe charityand a ¢omparison of the accounts pr¢sellt¢d with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from th¢ trustees conceming any sh lltts. The procedures widertJken do not provide ail th¢ evidence that would be required in an audit and ther¢fore we do not express 8n audit opinion on the accounts as to whether the awounts show a trne and fair vivw. The report is limited to thos¢ tte[S set o in tbe statement below. Independent Examiner's Statement In the cowse of our examination, no matter ])as come to our attentiot i) which giv us reasonable cause to believe, that in any material respe¢¢ th¢ tNS¢ees have not rn¢t th¢ requirements to ensure that proper ac¢ounting records are kept (in accordance with section 130 of the Act) ar accounts are prepar¢d wbich agree with th¢ accounting cordS 2nd comply with the accounting requirements of tb¢ act. or ii) to which in our opiniow attention should be drawn in ordeT to enable a proper understanding of the aCCots lo be Tbe Katherine Jones Instithte of Chartered Accowitants England & Wales Cutter & Co. Ltd 140 New Road Aston Fields Bromsgrove Wor B60 2LE Dats: