# **THE TIMOTHY COLMAN CHARITABLE TRUST**
## **FINANCIAL STATEMENTS**
**5 APRIL 2022**
**The Timothy Colman Charitable Trust Trustees Report**
**For the year ended 5 April 2022**
The Trustees present their report and financial statements for the year ended 5 April 2022.
## **Reference and Administrative Information**
|**Charity name**|The Timothy Colman Charitable Trust|
|---|---|
|**Charity registration number**|206129|
|**Registered Office**|Bixley Manor|
||Kirby Bedon Road|
||Bixley|
||Norwich|
||NR14 8SJ|
|**Board of Trustees**|Sir Timothy Colman, KG (died 9 September 2021)|
||James Colman|
|**Independent Examiner**|Mark Proctor FCA, DChA|
||Lovewell Blake LLP|
||Bankside 300|
||Peachman Way|
||Broadland Business Park|
||Norwich|
||Norfolk|
||NR7 0LB|
|**Bankers**|Barclays Bank Plc|
||PO Box 103|
||Wymondham|
||Norfolk|
||NR18 0UX|
|**Investment Managers**|Wren Investment Office Limited|
||84 Eccleston Square|
||London|
||SW1V 1PX|
1
**The Timothy Colman Charitable Trust**
**Trustees Report**
**For the year ended 5 April 2022**
## **Objectives and Activities**
The primary objective of the Trust is to award grants to other charitable institutions or purposes as determined by the Trustees.
Funding is received through monies drawn from an investment portfolio which has been maintained by Wren investment office during the year.
## _Public benefit_
The Trustees have had due regard to the guidance published by the Charity Commission with regard to public benefit. The Trustees consider that public benefit is provided through the making of grants to a wide range of small charitable institutions and community groups.
## **Achievements and Performance**
During the year the Trust benefitted from a legacy from the late Lady Mary Colman’s (wife of the late Sir Timothy Colman) estate. The Trust awarded grants amounting to £7,275 (2021: £12,393).
The value of the investment portfolio, including cash balances held by Wren Investment Office, increased from £439,582 at 5 April 2021 to £454,203 at 5 April 2022. Other cash balances increased from £359 to £27,112.
## **Financial Review**
A summary of the receipts and payments during the year is shown on page 5.
## _Investment Policy_
All investments, which are held in accordance with the powers available to the Trustees, are held in an investment portfolio managed by Wren Investment Office.
It is the Trustee’s intention that the portfolio should be managed in order to secure long term growth whilst at the same time producing income to make charitable grants in line with the objects of the trust.
## _Reserves Policy_
It is the Trustees policy to distribute all income earned in the investment portfolio and capital is also used to fund grants where considered appropriate.
## **Plans for Future Periods**
The Trust’s future activities will continue to be on a similar basis supporting a spread of activities across the different sectors, with special emphasis on the support to Norfolk charities.
2
**The Timothy Colman Charitable Trust**
**For the year ended 5 April 2022**
## **Trustees Report**
## **Structure, Governance and Management**
## _Governing Document_
The organisation is a registered Charity, created under a Trust deed dated 26 January 1962.
## _Trustees_
Mr James Colman held office throughout the year. Following the death of Sir Timothy Colman on 9 September 2021 a further trustee will be appointed in the near future.
## _Organisation Structure_
The Trust is governed by the Trustees, who meet regularly to consider the applications received for funding and to authorise payment of grants.
## **Independent Examiner**
A resolution to reappoint Mark Proctor of Lovewell Blake LLP as independent examiner was approved at the Trustees meeting.
Approved by the Trustees
James Colman
Date: 20 September 2022
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**Independent Examiners Report to the Trustees of The Timothy Colman Charitable Trust For the year ended 5 April 2022**
I report to the charity trustees on my examination of the accounts of the charity for the year ended 5 April 2022 which are set out on pages 5 to 6.
## **Responsibilities and basis of report**
As the charity’s Trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records; or
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
|**Mark Proctor FCA, DChA**|**Bankside 300**|
|---|---|
|**Independent Examiner**|**Peachman Way**|
|**LOVEWELL BLAKE LLP**|**Broadland Business Park**|
|**Chartered Accountants**|**Norwich**|
||**Norfolk**|
|**Date: 26 September 2022**|**NR7 0LB**|
4
|||**The Timothy Colman Charitable Trust**
**Receipts and Payments Account**
**For the year ended 5 April 2022**
**2022**
**2021**
**£**
**£**
-
-
8,256
8,256
86,177
54,270
94,433
57
12,393
1,020
1,672
15,142
84,558
(20,090)
(99,700)
34,180
(5,267)
22,460
27,727
56,640
22,460|**The Timothy Colman Charitable Trust**
**Receipts and Payments Account**
**For the year ended 5 April 2022**
**2022**
**2021**
**£**
**£**
-
-
8,256
8,256
86,177
54,270
94,433
57
12,393
1,020
1,672
15,142
84,558
(20,090)
(99,700)
34,180
(5,267)
22,460
27,727
56,640
22,460|**The Timothy Colman Charitable Trust**
**Receipts and Payments Account**
**For the year ended 5 April 2022**
**2022**
**2021**
**£**
**£**
-
-
8,256
8,256
86,177
54,270
94,433
57
12,393
1,020
1,672
15,142
84,558
(20,090)
(99,700)
34,180
(5,267)
22,460
27,727
56,640
22,460|
|---|---|---|---|---|
|**Receipts**
Legacy
Donation
Investment income
Sale of investments
**Payments**
Exchange rate (gain) / loss
Grants and donations
Accountancy
Investment portfolio charges
Purchase of investments
**Net Receipts / (Payments) for the Year**
Bank balances 6 April 2021
Bank balances 5 April 2022|25,000
48
8,864
33,912
20,358
(10)
7,275
1,020
1,862
10,147
9,943|
**2022**
**£**
54,270
(20,090)
34,180
22,460
56,640|
-
-
8,256
8,256
86,177
57
12,393
1,020
1,672
15,142
84,558||
||||||
5
## **The Timothy Colman Charitable Trust**
## **Statement of Assets and Notes to the Financial Statements**
|||**As at 5 April 2022**|**As at 5 April 2022**|
|---|---|---|---|
|**Bank balances:**
Barclays Current Account
**Investment portfolio**
Market value
(Original cost £311,216)
Wren Investment Office Cash balance
**Liabilities**
Accountancy fees (including VAT)|
**2022**
**£**
27,112
424,675
29,528
454,203
1,080||
**2021**
**£**
359
417,481
22,101
439,582
1,080|
|||||
These accounts were approved by the Trustees on 20 September 2022.
## James Colman
## **1** . **Accounting Convention**
The financial statements have been prepared on the receipts and payments basis.
## **2. Related party transactions**
During the year a legacy of £25,000 was received from the estate of the late Lady Mary Colman (wife of the late Sir Timothy Colman.)
6