Charity number: 204844 THE LEACH FOURTEENTH TRUST UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022
THE LEACH FOURTEENTH TRUST CONTENTS Page Reference and administrative details of the Charity. its Trustees and advlsers Trustees. report Independent examiner's report Statement of flnancial activities Balance sheet Notes to the financial statements 7-16
THE LEACH FOURTEENTH TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2022 Trustees Mr W l Henderson Mrsl MMNash Mr R Murray-Leach Ms T Murray-Leach Mr G Nash Mrs K Brooking Charlty Teglstered number 204844 Principal offlce GosbTook Cottage Common Lane Binlield Heath Henley-On-Thames RG9 4JY Accountants BHP LLP Riev3ulx House I St Mary's Court Blossom Street York Y024 IAH Bankeis CAF Bank Limited 25 King5 Hill Avenue West Malling Kent ME19 4JQ Solicltors Wrigleys 19 Cookridge Street Leeds LSI 3AG Ivvestment Managers R3thbone Investment Manager5 8 Finsbury Circu5 London EC2M 7AZ Independent Examlner Mr G Baragwanath FCA 8-10 Millgate Thirsk North Yorkshire Y07 IAA Page I
THE LEACH FOURTEENTH TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2022 The Trustee5 present their annual report together with the fin3ncial Statements of the The Leach Fourteenth Trust for the year 6 April 2021 to 5 April 2022. The flnancial statements have been prepared in accordance with the accounting policie5 set out in the notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Reportlng by Charities.. Statement ol Recornrnended Practice applicable to charltiÈs preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republlc af Ireland published in October 2019. Obiectlves tsndactfvlties Poll£ies and oblectlves The object ol the charity is to support charitable activities through the making of grants to appropriate institutions and individual5, In setting objectives and planning for activities, the Trustee5 have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the 8uidance'Public benefit.. running a charity IP821'. b. Grant maklng pollcles The charlty invites applications for funding. The application5 are reviewed ag8inst the criteria set out in the Trust Deed. In the current year the Trustees have awarded grants in exercise of their discretion. Achievement5 GndperJormun Revlew of actlvities The charitv 15 8 general charitable trust and the trustees have discretlon to pay the income and the capital of the Trust for such charitable purposes and obj&cts a5 they from time to time decide. The Trustees Consider application5 for funds 2nd decide what distribution5 Should be m8de. During the year, the charity gave grant5 totalllng £78,00012021.. E102,0(MJl to a totsl of 5012021.. 611 separate tharities. Flnan£iolreview Golng concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resource5 to continue in operation31 existence for the forosee3blo future. For this r@3s0n, they continue to adopt the going concern basi5 in preparing the financial statements. Further details rogarding the adoption of the going concern basis can be found in the accounting policies. b. Reserves pollcv It Is the policy of the charity to maintain unrestrirted reserve5. which are the free reserve5 of the charity not invested in fixed assets, at a level which equates to approximately six months unrestricted expEnditure. At this level, the trustees feel that they would be able to continue the current activities of the charity. At present the free reserve5, which amount to £32.144 12021.. £21,1381 are below this level. Page 2
THE LEACH FOURTEENTH TRUST TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 5 APRIL 2022 Structure, governunce und munogement a. Constltution The Leach Fourteenth Trust Is a registered charity, number 204844, is operational under the rules of its Settlement Deed dated 2 August 1961. b. Methods of appolntment or elettlon of Trustee5 Trustees are Tecruited from withln the family together Wlth their a5SOC13ted professional advisors. Potential Trustee5 are Invited to be in attend3nce at meetings prior to their appointment asTrustees. c. Financial risk management The Trustees h3ve assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satlsfied that systems and procedures are in place to mit18ate exposure to the rnajor risks. Statement of Trustees, responslbilitles The Trustees ère r@sponslble lor preparing the Trustees, report and the financial st3tements in accordantt with appSicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wale5 requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of allairs of the Charity and ol its incomlng resources and application ol resources, including its income and expenditure, for that period. In preparlng these financial statements, the Trustee5 are required to.. select suitable accounting pollcies and then apply them consistentlv., observe the methods and principles ol the Charities SORP IFRS 1021,. make judEment5 and accounting estimates that are reasonable and prudent., state whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any material departure5 disclosed and explained in the financial statements., PTepare the financial statements on the going concern basls unless It is inappropriate to presume that the Char4ty will continue in busines5. The Trustees are responsible for keeping adequate accounting record5 that are sufficient to show and exp131n the Charity's transactions and disclose with reasonable accuracy at any time the linanclal position of the Charity and enable them to ensure that the linanci315tatements comply with the Charities Act 2011, the Charity IAccount5 and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for takin8 reasonable steps for the prevention 3nd dotection of fr3ud and other irregularities. Approved by order ol the member5 of the board of Trustees arsd slgned on their behalf bv.. Date.. 19 October 2022 Page 3
Guy Baragwanath 20/10/2022 Guy Baragwanath (Oct 20, 2022 11:08 GMT+1)
THE LEACH FOURTEENTH TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2022 Unrestricted funds 2022 Total funds 2022 Total funds 2021 Note Income from.. 73,625 Investments 90,853 90,853 73,625 Total income 90,853 90,853 Expendlture on: Raising funds Charitable activitles 20,098 86,740 20,098 86,740 18,057 110.441 Total expendtture 106,838 106,838 128,498 Net expenditure before net gains on Investments Net gains on investrnents 115,9851 IIIA51 115.9851 111,451 154,8731 872,372 Net movement in funds 95,466 95,466 817,499 Reconciliation of funds: Total funds brought forward Net movernent in funds 4,059,653 95.466 4,059,653 95,466 3.242,154 817,499 Total lunds carried forward 4,IS5,119 4,155,119 4,059.653 The notes ori pages 7 to 16 form part of these financial statements. Page 5
THE LEACH FOURTEENTH TRUST BALANCE SHEET AS AT 5 APRIL 2022 2022 2022 2021 2021 Note Fixed assets Investments io 3,985,334 3,971,097 3.985,334 Current assets 3,971,097 Cash at bank and in hand 169.785 88,556 169,785 88,556 Net current assets 169,785 88,556 Total net assets 4,155,119 4,059,653 Charlty funds Unrestricted funds li 4,155,119 4,059,652 Total funds 4,155,119 4,059,653 The financial ststernents were approved and authori5ed for issue by the Trustees and signed on their behalf by.. Date., 19 October 2022 The notes on pages 7 to 16 form part of these flnancial statements. Page 6
THE LEACH FOURTEENTH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 General Inlormatlon Leach Fourteenth Trust Is a registered charity in England and Wales, and is operational under the rules ol its Settlement Deed dated 2 August 1961. The principle office of the charity 15 Gosbrook Cottage, Common Lane, Binlield Heath, Henley-On-Thames, RG9 4JY. Accountlng pollcies 2.1 Basis of preporatlon olAtinL7nclo15totements The financial statements have been prepared in accordance with Accountlng 3nd Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic ol Ireland IFRS 1021, the Charities Act 2011, and UK Generally Accepted Accounting Practice. The financi31 statements h3ve been prepared to give a 'true and fairf view and have departed from the Ch2ritie5 (Accounts and Report51 Regulations 2008 only to the exrent required to provide a 'true and lair, view. This departure has involved following the Charitles SORP IFRS 1021 publlshed on 16 July 2014 rather than the Accounting and Reportlng by Charitie5.' Staternent of Reeommended Practice effective from l April 2005 which has since been wlthdrawn. The Leach Fourteenth Trust meets the definition of a public benefit entity und2r FRS 102. A55ets and liabilities are initially recognised at historical cost or tran53Ction value unless otherwise stated in the relevant accounting pollcv. 2.2 Income All income is recognised once the Charity has entitlement to the income. it Is probable that the income will be received and the amount of Income receivable can be measured reliably. 2.3 Expenditure Expendlture is recognlsed once there is a legal or constructive obligation to transfer economic ljenelit to a thlrd party, It is probable that a transfer of economic benefits wil1 be required in settlement and the amount of the obligation can be measured reliably. Expenditure is cla5slfied by activity. The cost5 of each activity are made up of the total ol direct Costs and shared costs, including Support costs involved in undertaking each activity. Direct costs èttributable to a single activity are alloc3ted directly to that activity. Shared costs which contribute to more than one activity and support cost5 which are not attributable to a Single activity are apportioned between those activities on a basis consistent with the use of resources. Central stall costs are allocated on the basis of time spent, and depreciation charges allocated on the porilon of the asset's use. Expenditure on r3islng funds includes all expenditure incurred by the Charity to raise funds for 5ts charitable purposes and include5 costs of all fundraSsing actlvities events and non-charitable trading. Expenditure on charitable activitie5 is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. Page 7
THE LEACH FOURTEENTH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2022 Accountlng pollcles Icontinuedl 2.3 Expenditure fcontinuedj Grants payable are charged in the year when the offer is made except in those cases where the offer Is conditional, such grants being recognised as expenditure when the conditions 3ttaching are fulfilled. Grants offered Subject to condltions whlch have llot been met at the year end are noted as a tomrnitment, but not accrued as expenditure. All expenditure Is inclusive of irrecoverable VAT. Z.4 Interestrecelvoble Interest on funds held on deposlt is included when receivable and the amount can be measured reliably bv the Charlty,. this is normally upon notification ol the interest p3id or payable by the institution with whom the funds are deposited. 2.5 Toxotion As 2 charity, The Leach Fourteenth Trust is exempt from tax on income and gains fallin£ wlthin the available tax exemptions to the extent that these are applied to its charitable objectives. No tax charges have arisell in the charity. 2.6 Investments Fixed asset investments are a form of financial Instrument and are initially recognised at thelr transaction cost and Subsequently measured at fair value at the 8a13nce sheet date, unle55 the value cannot be measured reliably in which case it is measured at eost less impairment. Investment gains and losses. whether realised or unrealised, are combined and presented as 'Gains/lLossesl on investments, in the Statement of financial 2.7 Cosh ut bank In hund Cash at bank and in hand includes cash and short-term hi8hly liquid investments with a short maturity of three month5 or less from the date ol acquisition or opening of the deposit or similar account. 2.8 Finunchl instruments The Charity only has financial assets and financial liabilities of a klnd that qualify as basic financial instruments. Basic firn3ncial instruments are initially reco8n15ed at transaction value and subsequentlv measurod at their Settlement value with the exception of bank lo&ns which are subsequently rneasured at amortlsed cost using the effective interest method. 2.9 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and whlch have not been designated for other purpose5. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund 15 Set out in the notes tts the financial 5tatement5. Investment income, 8èins and losses are allocated to the appropriate fund. Page 8
THE LEACH FOURTEENTH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 Investment Income Unrestricted funds 2022 Total funds 2022 Total funds 2021 Income from UK listed investments Bank interest received 90,849 90,849 73,606 19 90.853 90.853 73.625 Total 2021 73,625 73,625 Investment management costs Unrestricted funds 2022 Total fund5 2022 Total funds 2021 Investment management fees 20,098 20,098 18.057 Total 2021 18,057 18.057 Analysls of grants Grants to Institutlons 2022 Total funds 2022 Total funds 2021 Income fund 78,000 78,000 102,000 Total 2021 102,000 102,QOO A total of 55 grants were made during the ye3r12021.. 731. See not& 6 for details of the grants made in the year. Page 9
THE LEACH FOURTEENTH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 Grants payable In the year The grants payable in the year comprise.. 2022 2021 Action Against Hunger UK Action Medical Research AgeUK Akwaaba Migrant Soclal Centre Alexander Devine Children'5 Cancer Trust Bar3ka Community Partnerships 8arnados 1,500 1.000 1,500 1,000 4.000 2,000 1,000 4,000 2,500 1,000 Be Free Young Carers Become 1,000 1.000 1.500 I,ODO CALM 1.000 Canine Partners 1,000 Carers Trust 3.500 Catch-22 1,000 1,000 Chlld Brain Injury Trust Cornwall Air Ambulance i.(M)o 1,000 1,500 Crohns and Colitis UK Dealblind UK 1.500 2,000 2.OCM) DEBRA 1.000 Dementia Trust 1,000 1,500 Dogs for Good Douglas Bader Foundatio Durrell Wlldlife Conservation Trust Fareshare 1.000 1,000 3,500 4,500 1,500 i.soo Fareshare South West Friends ol The Elderly Globalteer 1,000 1,000 Hackney Winter Night Shelter Hart Wildlife 1,000 2,500 1,000 3,500 1,000 2,000 He3mochromatosis UK Hope 2nd Homes for Children Hope for Tomorrow Huntington's Disease AsSOCl8tion Isles of Scilly Museum Association 2.000 2,000 1,000 Page 10
THE LEACH FOURTEENTH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 julian House 1,000 1,000 2,500 2,000 1.000 1,500 lumbulance Trust Kent Hefugee Action Network Klds for Kid5 2,000 1,500 Lupus UK Macular Society MACS 1,000 1,000 M3ggie's Medicins Sans Fronrleres 1,500 15,(X)O 1,000 2,000 1.000 11,000 Mercy Ships MND Association 1,500 Mobility Trust Movember Foundation 1.500 Multiple Sclerosis Society Muscular Dystrophy Society NARA 1,000 1,500 1,000 1,000 Orbis I,soo 1,000 PMNW Population Matters Prostate Cancer UK 1,000 I,soo 1,000 4,500 1,500 Refugee Council Salvation Armv Samaritan5 3.500 Separated Child Foundation Support Dogs Support Line Surfers Against Sewage Thames Valley Alr Ambularice The CountyTru5t. Suffolk The Cure Parkinson's Trust 1.000 1,000 1,000 I,(M)O 1,000 1,000 3,000 1,500 2,500 1,000 The Forever Friend5 Appeal The Green House 1,000 The Leanne Pero Foundation 1,000 The Mustard Tree 1.000 1,000 The PCC of the Isles of killy The Royal British Legion The Royal Star & Garter Home The Tuberous Scler051s Associ3tion i.O(M) 1,000 1,500 1,000 Triangle Arts Trust Tusk Trust 1,000 1.000 1,000 Page 11
THE LEACH FOURTEENTH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 Water Aid 1.500 Whizz-Kidz 1,000 1,000 1,500 World L3nd Trust 1,000 3.500 Grants given under £1,000 78,000 102.000 Analysls of expenditure by expendlture type Unrestrl¢ted funds 2022 rotal funds 2022 Total funds 2021 Investment management costs Grants payable Governance costs 20,098 78,000 8.740 20.098 78,000 8,740 18,057 102.000 8,441 Totu12022 106,838 106,838 128.498 Total 2021 128,498 128,498 Governance costs Unrestricted fund5 2022 Totsl fund5 2022 Total funds 2021 Accountancy fee5 Bank charges 8.616 8,616 124 8.364 124 77 Tota12022 8,740 ,740 8,441 Total 2021 8,441 8.441 P3ge 12
THE LEACH FOURTEENTH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 Tru5tees' remuneratlon and expenses During the year, no Trustees recelved any remuneration or other benefits12021- £NILI. During the year ended 5 Aprll 2022. no Trustee expenses have been incurred12021- £NILI. io. Flxed asset Investments Other fixed a55et investments Llsted investments Total Cost or valuotion At 6 April 2021 Additions 3,941,096 247,922 1330.5541 96,869 30,001 3,971.097 247,922 1330,5541 96,869 Disposals Revaluations At S April 2022 3.955,333 30.001 3,985.334 Net book value At 5 April 2022 3.955,333 30,001 3,985,334 At 5 April 2021 3,941,096 30,001 3,971,097 All the fixed 35set investments are held in the UK. The value ol the Investments allotted under ranges under the Trustee Investrnent Act is as lolli)ws'. Broad range.. £3.233,01512021.. £3.198,1751. Narrow range: £752,31912021.. £772,922). Page 13
THE LEACH FOURTEENTH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 li. Statement of funds Statement of fund5. current year Balance at 6 April 2021 Gatns/ (Lossesl Balance at 5 Aprll 2022 Income Expendltvre Unrestrlttedfunds Designotedfunds Capital account 4.038.515 126,9911 111,4SI 4,122,975 Generulfunds Income account 21,138 90,853 179.8471 32,144 Totol UnrestrktedAunds 4,059,653 90,853 1106,8381 111,451 4,155,119 The incorne fund represents the free funds of the charity which are 3vailable for distrlbution for such charitable purposes and objects as the trustees frorn time to tirne decide. The capital fund represents the total flxed asset inve5trnents that are malntained in separate capital accounts for the purpose of generating sufficient income for the continuing of the charity's objects. Statement of funds- prlor year alance at 6 April 2020 Gains/ Balance at IL055esl 5 April 2021 Income Expenditure Unre5trtictedfvnd5 De5ignutedAunds Capital account 3,190.891 124.7481 872,372 4,038,515 Generolfunds Income account 51,263 73.625 1103,7501 21.138 Totul Unrestrictedfvnds 3,242.154 73,625 1128,4981 872,372 4,059,653 Page 14
THE LEACH FOURTEENTH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 12. Summary of funds Summary of funds- current year Balance at 6 Aprll 2021 Gatn51 ILossesl Balance at S Aprll 2022 Income Expeftditure Designated funds General funds 4,038.515 21,138 126,9911 179,8471 111,451 4.122,975 32,144 90,853 4,059,653 90,853 1106,8381 111.451 4,155,119 Summary of funds- prlor year Balance at 6 April 2020 G3in51 (Losses) B31ance ar 5 April 2021 Incorne Expenditure Designated fund5 Gener31 funds 3,190.891 51,263 124,7481 1103,7501 872,372 4,038,515 21,138 73,625 3,242,154 73,625 1128,4981 872,372 4,059,653 13. Analysis of net assets between funds Analysis of net assets between funds- current year Unrestrlcted funds 2022 Total funds 2022 Fixed asset investments 3.985,334 169.785 3,985,334 169,785 Current assets Totul 4,155.iig 4,155,119 Pège 15
THE LEACH FOURTEENTH TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 13. Analysi5 of net assets betwoen funds Icontinuedl Analysls of net assets between funds- prlor year Unrestricted funds 2021 Total funds 2021 Fixed asset investments Current assets 3,971,097 88,556 3.971,097 88,556 Total 4,059,653 4,059,653 Page 16
Final Audit Report
Leach 14th 05.04.2022
2022-10-20
Created: 2022-10-20 By: Micheal Wooldridge (micheal.wooldridge@bhp.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAJ9rmOWH15Meqqmzz0KYQJRW7WgGgXSmf
"Leach 14th 05.04.2022" History
Document created by Micheal Wooldridge (micheal.wooldridge@bhp.co.uk)
2022-10-20 - 7:52:39 AM GMT- IP address: 81.23.52.242
Document emailed to guy@cgb-associates.com for signature
2022-10-20 - 7:53:09 AM GMT
Email viewed by guy@cgb-associates.com
2022-10-20 - 10:07:35 AM GMT- IP address: 51.155.136.224
Signer guy@cgb-associates.com entered name at signing as Guy Baragwanath 2022-10-20 - 10:08:54 AM GMT- IP address: 51.155.136.224
Document e-signed by Guy Baragwanath (guy@cgb-associates.com)
Signature Date: 2022-10-20 - 10:08:56 AM GMT - Time Source: server- IP address: 51.155.136.224
Agreement completed.
2022-10-20 - 10:08:56 AM GMT