The Carr-Ellison Family Charitable Trust {Registered Number: 206624}
Financial Statements For the Year ended 31st March 2021
The Carr-Ellison Family Charitable Trust ~ Registered Number 206624 (Established by deed dated 15th May 1962 ) Trustees' Annual Report for the Year ended 31st March 2021
Page 1
The trustees present their annual report and financial statements of the charity for the year ended 31st March 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's trust deed, the Charities Act 2011 and Accounting and 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 published on 16 July 2014.
Structure, Governance & Management
| Financial Period | Year ended 31st March 2021 |
|---|---|
| Settlor | Sir Ralph Harry Carr-Ellison - deceased |
| Trustees | John McMorrough Carr-Ellison; Robert Alexander Dickinson; |
| Mrs Rose Alice Shaw; | |
| Mrs C Carr-Ellison | |
| Principal address | Hedgeley Hall; Powburn; Alnwick; Northumberland; NE66 4HZ |
The Charity is a registered charity, number 206624, and is constituted under a trust deed dated 15th May 1962. The Charity was established by an initial gift from Sir Ralph Carr-Ellison in 1962 and on 18th February 1993 certain investments were appointed by the Trustees of The Ronald Carr-Ellison Trust to the Charity to be added to the Charity's expendable endowment.
Under clause 8 of the trust deed the power of appointing a new or additional trustee was vested in Ralph Harry Carr-Ellison during his lifetime. Following his death on 26 August 2014, the statutory power of appointment applies to the Charity and is exercisable by the continuing trustees. The retirement and appointment of trustees are dealt with by way of deed of retirement and appointment.
The trust is overseen by John McMorrough Carr-Ellison.
Objectives and Activities
The Charity's funds comprise an expendable endowment fund and an unrestricted fund. The income arising from the funds, together with such part, if any, of the capital of the funds is held to make grants or contributions for such charitable purposes as the trustees may from time to time determine. A complete list of grants and contributions made in the year is shown in note 5 of the financial statements.
During the year ended 31st December 2016 the Trustees applied cash of £35,036 from the Charity's funds to acquire Branton Lake which will be developed and managed as a nature reserve. The Charity's trust deed has been altered to accommodate this acquisition.
Financial Review
During the year the Charity made grants of £32,074 (2020: £20,929) resulting in net income before investment gains and losses of £13,284 (2020: £21,016).
The Charity's investment funds achieved an overall estimated gross income yield, based on the offer price of the units held at 31st March 2021 of 2.92% (2020: 3.45%) and an unrealised investment gain of 20.65% (2020: unrealised loss 2.42%).
The revaluation of the Charity's quoted investment at the year ended resulted in an unrealised gain of £289,042 ( 2020: unrealised loss of £34,751).
The trustees have entered a contract for the sale of freehold land at Dunstan Hill Hospital, together with Gateshead NHS Trust, to sell the land currently held by Gateshead NHS Trust on a long lease to Storey Homes. The completion statement dated 29th September 2021 shows the first payment due to the trust under the option agreement amounts to £31,264.54. Depending on the outcome of certain conditions further sums are payable to the trust amounting to a maximum sum of £787,500.
The Charity operates with no income reserves as the trustees' policy is to distribute the unrestricted fund income. From year to year the trustees may under or over distribute net income depending on the timing of the receipt of suitable grant applications. Additionally it is the trustees policy to preserve the expendable endowment fund to maintain the Charity's income flow. At the year end there is a balance on reserves at follows:
| Unrestricted fund Expendable endowment fund |
£95,404 |
|---|---|
| £1,721,642 |
Risks
The trustees have examined the risks which the Charity faces and consider that systems have been established to monitor and control such risks. The principal risk faced by the Charity lies in the performance of the quoted investments. For this reason the Charity's quoted investments are managed by CCLA Fund Managers Limited within their COIF Charities Investment Fund - Income units. This is an "all in one" diversified long-term fund designed for charities which provides s suitable long-term fund for most charities and which provides a highly diversified and well-balanced spread of investments with a focus on delivering attractive growing income and protecting capital from inflation.
The trustees pay due regard to the Charity Commission's guidance on public benefit and the charitable grants made have been to further the charity's charitable purpose for public benefit.
The Carr-Ellison Family Charitable Trust ~ Registered Number 206624 (Established by deed dated 15th May 1962 ) Trustees' Annual Report for the Year ended 31st March 2021 continued
Page 2
Trustees' responsibilities in relation to the financial statements
The Charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to Charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and the application of resources of the Charity for that period. In preparing these financial statements, the trustees are required to select suitable accounting policies and then apply them consistently, observe the methods and principles in the Charities SORP 2015 (FRS 102), make judgements and estimates that are reasonable and prudent, state whether applicable accounting standards have been followed, (subject to any material departures disclosed and explained in the financial statements), and prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and which enable them to ascertain the financial position of the Charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Trustees on the 16th day of December 2021 and signed on their behalf by :
JM Carr-Ellison
CTAAS
Robert D G Hale BSc. (Agric) Hons Trading as CTAAS Inglewood The Dene Allendale Northumberland NE47 9PX
Countryside Tax Accounting & Advisory Services
Independent Examiner’s Report to the Trustees of The Carr-Ellison Family Charitable Trust
Page 3
I report on the financial statements for the year ended 31st March 2021 and which are set out on pages 4 to 10.
Respective responsibilities of the trustees and examiner:
The Charity's trustees are responsible for the preparation of the financial statements. The Charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the financial statements under section 145 of the Charities Act,
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to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s statement:
My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements 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 consequently no opinion is given as to whether the financial statements present a ‘true and fair’ view, and the report is limited to those matters set out in the statement below.
Independent examiner’s statement:
In connection with my examination, no matter has come to my attention:
-
which gives me reasonable cause to believe that in, any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act;
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to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Signed:
R D G Hale
Dated this 16[th] day of December 2021
Telephone / Facsimile 01434 618171
Email: robert@ctaasrowan.co.uk
The Carr-Ellison Family Charitable Trust Statement of Financial Activities For the Year Ended 31st March 2021
Page 4
| Note Income Investment income Dividends Interest NEDL wayleaves Dunston Hill - ground rent Total income Expenditure Expenditure on charitable activities: Charitable grants 5 Charitable grants - written back from 2020 Governance costs: Legal and management charges Accountancy charges Administration Branton Lake - Nature Reserve operational costs Cost of grant making Realised and unrealised gains / (losses ) on investment assets 4 Net movement in funds 2 Reconciliation of Funds: Total funds brought forward Total funds carried forward 2 Net income and net movement in funds before gains and losses on investments |
Unrestricted Fund £ |
Expendable Endowment 2021 Fund Total £ £ - 49,323 - 12 - 193 - 1,200 - 50,728 - (32,074) 170 - (744) - (792) - (3,693) - (141) - (37,274) - 13,454 289,042 289,042 |
2020 £ |
|
|---|---|---|---|---|
| 49,323 12 193 1,200 |
48,353 61 188 1,200 |
|||
| 50,728 | 49,802 | |||
| (32,074) 170 (744) (792) (3,693) (141) |
(20,929) - (414) (779) (3,540) (3,124) |
|||
| (37,274) | (28,786) | |||
| 13,454 | 21,016 (34,751) |
|||
| 13,454 81,950 |
289,042 302,496 1,432,600 1,514,550 1,721,642 1,817,046 |
(13,735) 1,528,285 |
||
| 95,404 | 1,514,550 |
The notes on pages 6 to 10 form part of these financial statements.
| The Carr-Ellison Family Charitable Trust Balance Sheet as at 31st March 2021 |
Page 5 | |
|---|---|---|
| 2021 Note £ £ Fixed assets: Tangible assets: Dunston Hill House and surrounding land 1,610 Branton Lake - Nature Reserve 35,036 Quoted Investments: COIF Charities Investment Fund - Income units 4 1,688,506 Total fixed assets 1,725,152 Current assets : Balances at Lloyds Bank plc, Greys Street, Newcastle upon Tyne : 82,686 COIF Charities Deposit Fund 10,000 Page 6 92,686 Liabilities: Creditors : Amounts falling due in one year: Administration - Accountancy charges (792) Net current assets 91,894 Net assets (being total assets less current liabilities) 3 1,817,046 Represented by : 2021 £ Expendable Endowment Fund Page 4 1,721,642 Unrestricted Fund Page 4 95,404 Total charity funds 1,817,046 |
2020 £ |
|
| 1,610 35,036 1,399,464 |
||
| 1,436,110 69,754 10,000 |
||
| 79,754 | ||
| (535) (779) |
||
| (1,314) | ||
| 78,440 | ||
| 1,514,550 | ||
| 2020 £ |
||
| 1,432,600 81,950 |
||
| 1,514,550 |
The accounts and report were approved by the Trustees on the 16th day of December 2021.
Signed on behalf of the Trustees by:
J McM Carr-Ellison
The Carr-Ellison Family Charitable Trust Statement of cash flows For the Year ended 31st March 2021
Page 6
| Net movement in funds Deduct: Investment income (Gain) / loss on investments Increase / (decrease) in creditors Net cash used in operating activities Cash inflow from investment activities: Dividend and interest Rents Change in cash in the year Cash brought forward Cash carried forward |
2021 £ £ 302,496 (50,728) (289,042) (522) (340,292) (37,796) 49,335 1,393 50,728 12,932 79,754 92,686 |
2020 £ |
|---|---|---|
| (13,735) | ||
| (49,802) 34,751 548 |
||
| 49,335 1,393 |
(14,503) | |
| (28,238) 48,414 1,388 |
||
| 21,564 58,190 |
||
| 79,754 |
The Carr-Ellison Family Charitable Trust Notes to the financial statements For the Year ended 31st March 2021
Page 7
1. Accounting policies
a. Basis of accounting
The financial statements have been prepared under the historical cost convention, with the exception that the investments are included at market value. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities Act 2011.
The Charity constitutes a public benefit entity as defined by FRS 102.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports)Regulations 2008 only to the extent required to provide a 'true and fair view'. The departure has involved following the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1st April 2005 which has since been withdrawn.
b. The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. With respect to the next reporting period, 2021-22, the most significant area of uncertainty that affects the carrying value of assets held by the charity is the level of investment return and the performance of investment markets.
c. Fund structure
The charity has an expendable endowment fund created by a gift from Sir Ralph Carr-Ellison and other family members and an unrestricted fund. The terms of the expendable endowment fund allow the income arising from it and the capital to be applied as the trustees determine.
The unrestricted fund comprise those funds which the trustees are free to use for any purpose in the furtherance of the charitable objects.
d. Income recognition
All income resources are recognised once the charity has entitlement to the resources, it is certain that the recourses will be received and that the monetary value of the income can be measured with sufficient certainty.
e. Expenditure recognition
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Grants payable are payments made to third parties in the furtherance of the charitable objectives of the charity. Single or multi-year grants are accounted for when the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition.
f. Governance costs
Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice.
g. Fixed assets
Tangible fixed assets:
Land and property is capitalised and valued at historic cost. No depreciation is charged on these assets. Quoted investments:
Investments are stated at market value as at balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.
h. Realised gains and losses
All gains and losses are taken to the statement of financial activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and the opening market value or purchase date if later. Unrealised gains and losses are calculated as the difference between the market value at the year end and the opening market value or purchase date if later. Realised and unrealised gains are not separated in the Statement of Financial Activities.
The Carr-Ellison Family Charitable Trust Notes to the financial statements
Page 8
For the Year ended 31st March 2021
2. Analysis of charitable funds Current year
| 2. Analysis of charitable funds Current year |
||||||
|---|---|---|---|---|---|---|
| Investment | ||||||
| gains / | ||||||
| Analysis of fund movements | Balance b/fwd | Income | Expenditure | (losses) | Balance C/fwd | |
| Unrestricted funds | 81,950 | 50,728 | (37,274) | - | 95,404 | |
| Expendable endowment | 1,432,600 | - | - | 289,042 | 1,721,642 | |
| 1,514,550 | 50,728 | (37,274) | 289,042 | 1,817,046 | ||
| Prior year | ||||||
| Investment | ||||||
| Analysis of fund movements | Balance b/fwd | Income | Expenditure | gains / losses | Balance C/fwd | |
| Unrestricted funds | 60,934 | 49,802 | (28,786) | - | 81,950 | |
| Expendable endowment | 1,467,351 | - | - | (34,751) | 1,432,600 | |
| 1,528,285 | 49,802 | (28,786) | (34,751) | 1,514,550 | ||
| 3. Analysis of net assets between funds | ||||||
| Current year |
| Analysis of fund movements Unrestricted funds Expendable endowment Prior year Analysis of fund movements Unrestricted funds Expendable endowment 3. Analysis of net assets between funds Current year |
Balance b/fwd 81,950 1,432,600 |
Balance b/fwd 81,950 1,432,600 |
Balance b/fwd 81,950 1,432,600 |
Income 50,728 - |
Income 50,728 - |
Expenditure | Investment gains / (losses) - 289,042 |
Investment gains / (losses) - 289,042 |
Investment gains / (losses) - 289,042 |
Balance C/fwd | Balance C/fwd | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (37,274) - |
95,404 1,721,642 |
|||||||||||
| 1,514,550 | 50,728 | (37,274) | 289,042 | 1,817,046 | ||||||||
| Balance b/fwd 60,934 1,467,351 |
Income 49,802 - |
Expenditure | Investment gains / losses - (34,751) |
Balance C/fwd | ||||||||
| (28,786) - |
81,950 1,432,600 |
|||||||||||
| 1,528,285 | 49,802 | (28,786) | (34,751) | 1,514,550 | ||||||||
| Fixed Assets Investments Current assets Current liabilities Net assets at 31st March 2021 Prior year Fixed Assets Investments Current assets Current liabilities Net assets at 31st March 2020 4. Reconciliation of investments COIF Charities Investment Fund Balance brought forward Additions / (disposals) Balance carried forward Market value brought forward Cost of additions Net unrealised (loss) / gain on revaluation Market value carried forward |
Unrestricted Fund £ 3,510 0 92,686 (792) |
Expendable Endowment Fund £ 33,136 1,688,506 - - 1,721,642 Expendable Endowment Fund £ 33,136 1,399,464 - - 1,432,600 2020 Book Value £ 837,212 - 837,212 |
Total £ 36,646 1,688,506 92,686 (792) |
|||||||||
| 95,404 | 1,817,046 | |||||||||||
| Unrestricted Fund £ 3,510 0 79,754 (1,314) |
Total £ 36,646 1,399,464 79,754 (1,314) |
|||||||||||
| 81,950 | 1,514,550 | |||||||||||
| 2021 Market Value £ 1,688,506 - |
2020 Market Value |
|||||||||||
| Holding Units 94,199.43 - |
Book Value £ 837,212 - |
|||||||||||
| £ 1,399,464 - |
||||||||||||
| 94,199.43 | 837,212 | 1,688,506 | 1,399,464 | |||||||||
| 2021 £ 1,399,464 - 1,399,464 289,042 1,688,506 |
2020 £ |
|||||||||||
| 1,434,215 - |
||||||||||||
| 1,434,215 (34,751) |
||||||||||||
| 1,399,464 |
The Carr-Ellison Family Charitable Trust Notes to the financial statements For the Year ended 31st March 2021
Page 9
5. Charitable grants
| 5. Charitable grants | ||
|---|---|---|
| Action Medical Research Alzheimer's Society Alwinton Border Shepherds Show Army Benevolent Fund Bailliffgate Museum & Gallery Bellingham Church Bell View (Belford) Berwick Barracks Heritage Trust Blind Veterans UK Blues & Royals Association Brain Tumour Research British Heart Foundation British Lithuanian Society Butterfly Trust Centrepoint Centre for Search Research Chillingham Wild Cattle Association Chronicle Sunshine Fund Clegwell & Hartleyburn Community Hub Combat Stress Community @ NE66 Community Foundation Community Foundation Coronavirus Fund Community Foundation High Sheriff Silent Auction Country Trust Crohn's Colitis UK Cure Parkinson's Trust Diocese in Europe (Palma) DWR Regimental Museum Friends of Morston Church Fusiliers Museum of Northumberland Game & Wildlife Conservation Game & Wildlife Conservation - for research Guide Dogs for the Blind Glendale Agricultural Society Hedgeley Farms WWT membership Hedgeley Parish Council Hindmarch Hall Hospice Care North Northumberland Household Cavalry Museum Trust Hunt Staff Benefit Society Lifelites Macmillan Cancer Support Mallorca Preservation Fund Marie Curie National Garden Scheme NE Youth Newcastle Gang Show Northumberland Log Bank Northumberland & Newcastle Society Opera North Pelton Youth Project Powburn Show Prickles Hedgehog Rescue Balance carried forward |
2021 £ 200 100 - 100 50 100 - 500 400 20 400 100 50 100 1,000 - - 200 5,000 100 500 8,750 1,000 400 1,000 - - 200 1,000 300 400 300 300 100 - 44 180 100 4,000 400 100 100 300 - 250 50 - - - 1,000 250 - 100 40 29,584 |
2020 £ 200 - 25 100 50 - 100 - - - 400 100 - - - 100 150 200 - 100 - 9,250 - - 1,000 100 300 200 - 300 400 100 - - 500 - - - - - 100 - - 1,000 200 - - 400 250 - 250 100 100 - |
| 16,075 |
The Carr-Ellison Family Charitable Trust Notes to the financial statements For the Year ended 31st March 2021
Page 10
5. Charitable grants - continued
| 5. Charitable grants - continued | ||
|---|---|---|
| Balance brought forward RABI Rare Breeds Survival Trust RBLI British Legion Rheumatoid Arthritis Society (Simon Langdale marathon) Royal Humane Society Royal Marsden Cancer Charity (Harry Shaw pledge) Royal Voluntary Service Sailors' Children's Society Sandhurst Foundation Trust Shine Spinal Injuries Association Supporting Wounded Veterans Targeting Ovarian Cancer Teenage Cancer Trust Tom's Trust Tyne & Wear Archives Walking with the Wounded Wildfowl and Wetlands Charity Wildfowl and Wetlands Trust Yorkshire Sport Horse Breeding Total payments to charities Grants not cashed: Springboard Charity (Arletty's challenge) - cheque not cashed 09.03.20 Blues & Royals Association 20.02.20 |
2021 £ 29,584 250 40 - - 200 - - 200 100 100 100 300 100 200 200 - 500 - 200 - 32,074 (150) (20) (170) |
2020 £ 16,075 - 40 200 - 200 100 250 - 100 - - - - 200 200 2,500 500 44 100 250 |
| 20,759 150 20 |
||
| 20,929 |