Charlty Registeted Number 207294 The J C Robin80n Trust No. 3 Uttaudited Financial Statements for the yeat ended 5 AprAI 2024
Thej C ROnsOn Trust No. 3 Charity Registered Number 207294 for the year ended 5 ApTil 2024 Index to the Flnanclal Statements Page Tru5tees' Report Independent Examinerfs Report Statement of Flnancial ActNities Balance sheet Notes to the accounts
The J C Roblnson Trust No. 3 Charity Reglstered Number 207294 Trustees, Report for the year ended 5 Aprfl 2024 The trustees herewith present their annual report for the year ended 5 April 2024. The financial Statements, which show a true and fair view of the financial activities of the charity for the year, have been prepared on an accruals basis and have been prepared in accordance with the statement of Recommended Practice- Accounting and Reporting by Charities. The trustees of the charity during the year we. Misscm Howe Mr R S Burns-cox Mro Burns Mr E M Macgregor Burns The trustees are responsible for the general control and management of the charity. All new trustees are appointed at commlttee meetings. The J C Robinson Trust No 3 wa5 established by a trust deed dated 27 January 1931 and is a registered charlty, No. 207294. The principal address of the charity is: Bamett Wood Bungalow Blackboys, Uckfield East Su55ex, TN22 5JL The following are the advlsors of the charity= Accountants: Swindells, Atlantic House 8 Bell Lane, Bellbrook Industrial Estate Uckfield East Sussex. TN22 IQL Bankers.. Barclays Bank PLC High Street Lewes East Sussex, BN7 21P Brokers: Redmayne-Bentley LLP 3 Wellington Place Leeds, LSI 4AP objectlves, activitles and public benefit The charity's income is derived from the investments which were pemianently endowed when the trust deed wa5 originally created. The charity aims to assist individuals and organi5ation5 who promote the welfare of the elderly or disadvantaged and to encourage the training and community spirit of young people in England. The trustees confirm that they have referred to the guidance contained in the Charlty Commission's general guidance on public benefit when reviewing the trust's aims and objectives. Athlevements The main achievement of the charity this year. as in prevlous years. 15 the provislon of donations in line with the charity's objectives. This is also the objective for future years. The accounts comply with the statutory requirements. the Rules of the Association and the Statement of Recommended Practice. Page 1
Thej C RoblnsonTru$t No. 3 Charity Registered Number 207294 Trustees, Report for the year ended 5 Aprll 2024 All charlty donation request5 are reviewed and considered by at least one trustee. The trustees consider that the most appropriate policy for investing funds is to invest in Shares, investment tru5t5 and unit trusts. Decisions regarding investments are made by the broker under discretionary power within the overall strategy agreed with trustees. The trustees have reviewed the activities of the tn over the past year and confirm they have been carried out according to the aims of the trust and entirely for the public benefit. The restricted reserves are comprlsed of the fixed asset investments. The income from these investment5 Is held in the unrestricted reSee and is distributed by way of donation to charity from that fund. The general reseNe 15 for all other purposes. The major risk to which the charkty is exposed is the uncertainty of the Stock marf(et, which has an impact on income received by the charity and the market value of the assets held by the charity. To mitigate thi5 risk the charity takes advice from a stockbroker and the portfolio, as a whole. is jointly managed with the stockbroker. Overall the investment values had decreased a5 a result of the disposal value of the investment share during the year,with market values down by l.tXN {2023= down 12.12%). Investment income has decreased this year by 19.36%12023-. increased by 7.33%). The investment strategy for the portfolio, that was agreed at the end of 2020. places emphasis on capital growth and greater diversification of investments, rather than being tailored towards dividend reIpts and also investment income wa5 received from special dividends last year. The balance on the unrestricted general fund has decreased from a surplus of £19,620.11 at 5 April 2023 to a surplus of £15,357.75 at 5 April 2024. The trustees have established a reserves poliLV whereby the reserves of the trust are maintained to enable the trust to continue to meet its objectNes now and in the fijture. Statement of tNstees' re5ponsibilitles Charity law requlres the trustees to prepare financial statements for each financial year which show a true and fair view of the state of affairs of the charity and its financial activitie5 for that period. In preparing those financial statements, the trustees are required to: select suitable accounting policies and then apply thern conSistent- make judgements and estimates that are reasonable and prudent: state whether applicable accounting standard5 and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements,. prepare the financial statements on the going concem basi5 unless It is inappropriate to presume that the charity will continue in operdtional existence. The trustees are responsible for keeping proper accounting records whlch disclose with reasonable accuracy at any time the financial w)Sltion of the charFty and to enable them to ensure that the financial statements comply wlth the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps lor the prevention and detection of fraud and other irregularities. Approved by the trustees on .. and signed on their behalf bv.. Miss C Howe- Trustee Page 2
Independent Examinerfs Report to the Trustees of The J C Roblnson Trust No. 3 Charity Reglstered Number 207294 I report to the charity trustees on my examination of the accounts of the TrLFSt for the year ended 5 April 2024, which are set out on pages 4 to 8. Responsibllltles and basls of report As the charitys tru5tee5 you are re5w)nsible for the preparation of the accounts in accordance wlth the requirements of the Charities Act 20111.the ACVI. I report in respect of my examination of the charit5 accoun15 carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Direction5 given by the Charity Commission under section 14515llbl of the Act. Independenl examiner's statement I have completed my examination. I confirn) that no material matters have come to my attention in connection with the examination gwin8 me cause to believe that in any material respect- 11 accounting records were not kept in respect of the chartty a5 qUIred by section 130 of the Act; or 21 the accounts do not accord with those records: or 31 the accounts do not compty with the applicable requirements conceming the form and content of accounts set out in the Charities (Accounts and Report5} Regulations 2[ other than any requirement that the accounts gNe a 'true and fair viev/ which is not a matter considered as part of an independent examinalion. 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. Peter Gale FCA TEP Swlndells LLP Chartered Accountants Atlantic House 8 Bell Lane, Bellbrook Industrlal Estate Uckfield East Sussex TN22 IQL Date.. Paje 3
Thè I C Roblnson Trust No. 3 Charity Reglstered Number 2072Y Statement of Finandal Acuvltles for the yèar endad 5 Aprll 2024 Unrestrirted 8enernl fund Endowed fund Totsl funds 2024 Total 2023 Notes Incomlng resourtÈs Investment income 27,322.63 27,322.63 33,881.13 Total Incomln4 resour5 27,322.63 27,322.63 33.881.13 Resour expended Charltable activities Distributions Costs of generating funds Investment management costs Governance costs 28.885.00 28,885.00 32,980.00 7.566.48 7,566.48 2,7(X).tM) 7,951.82 3,000.00 2.71J).(KJ Total resour¢es expended 31.585.(J) 7,566.48 39,151.48 43,931.82 Net outgoSng resource5 frK the year 14.262.371 17,566.481 111,828.851 110,050.691 OTHER RECOGNISED GAINS AND LOSSES Galn/lloss1 on di5POsal of investment assets Unrealised 8Jlns/llossesl on revaluation of Invèstmènt 115.596.41} 115,596.411 114,708.351 21,194.46 21,194.46 149.674.421 Net movement171 funds 14.262.371 11.968.431 { 6.230.801 174,433.461 TOTAL FUNDS BROUGHT FORWARD 19,620.11 639,101.75 658,721.86 733,155.32 TIIANSFER OF FUNDS TOTAL FUNDS CARRIED FORWARD io 15.357.74 637.133.32 652,491.06 658,721.86 Pag8 4
The J C Roblnson Trust No. 3 Charity Reglstered Number 207294 BALANCE SHE AS AT 5 APRIL 2024 2024 2023 Notes Axed assets Investments 13 618.177.00 624,484.00 Current assets Deposits at brokers Cash at bank and In hand Total current assets 25,479.35 12,662.17 38,141.52 18,832.34 19,254.60 38,086.94 Credltors Amounts falling due within one year 3,827.46 3,849.08 Net rrent assets Total a$5ets less Ilabllities 34,314.06 652,491.06 34,237.86 658,721.86 Funds Restricted fvn(ts', Endowment fund Unrestricted lunds: General fund Total chabily funds 637,133.32 639,101.75 15,357.74 652,491.06 19,620.11 658,721.86 Approved by the trustees on . . and siqned on their behalf by.. Miss C Howe- Trustee Page 5
Thej C Robln50n Trust No. 3 Charlty Registered Number 207294 Notes to the accounts for the year ended 5 April 2024 l. AccountlnE policles 1.1 Basis of a¢¢ountlng The financial statements of the charity. which is a public benefrt entity under FR5 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. ststement of Recommended Practice applicable to chartties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191,, Financial Reporting Standard 102 The Financial Reporting Standard applicable In the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the histortcal cost convention, with the exception of investments which are included at market value. The financial statements are presented in steding which is the functional currency of the charity. The financlal statements have been prepared lo gNe a 'true and fairf view and have departed from the Charities IAccounts and Reports) Regulations 2(N)8 only 10 the extent required to provide a 'true and fair vie. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reportirig Standard applicable in the UK and Republic of Ireland IFR5 1021 issued on 16 July 2014 rnther than the Accounting and Reporting by Charities: Statement of Recommended Practice effectNe from l April 2(5 which has since been withdrawn. 1.2 Income and expendlture Income and expenditure is accounted for on an accruals basis a5 far as it is prudent to do so. The Incoming resources from endowment funds are unrestricted. Expenditure is allocated to either charitable distribution or management and administration costs. 1.3 Glfts In kind The charity receives the benefit of work carried out by the trustees. No monetary value is placed on the work carried out by the trustees. The charity employs no paid employees. 1.4 Taxatlon As a registered charity, the trust is general exempt from Income Tax and Capital Gains tax, but is not exempt from VAT. Irrecoverable VAT is included in income and in the cost of those expenses to which it relates, where applicable. 1.5 Investments The fixed a55et investments are included in the accounts at market value at the balance sheet date as shown in note 13. Realised gains and1055es on disposals are treated as per note 5. Income from the investments is accounted for on the accruals basis. 1.6 Resources expended Charitable expenditure represents distributions made In the year. Governan costs include accountancy fees and all other costs are in latiOn to inve5trnent management. 1.7 Going concern The trustee5 have assessed whether the going concern basis of Pfepardtion continues to be appropriate, based on whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the trust to continue as a going concern. At the time of approvlng the financial statements the trustees believe that all appropriate measures have been or will be taken to ensure that the trust will be able to continue its operations for at least the next twelve months and thus concludes that the going concern basis remains appropriate. Page 6
Yhe I C Roblnsr)n Trust No, Charfty ReKistered Number 207294 Notes to thè accounts- contlnued lor the year ended 5 Aprfl 2024 2. Investment income 2024 2023 Net Income from In¥estments 18,805.97 30,515.29 Interest recelvable: Global fixed interest Dep051t account interest Property income di5trlbutlon 7.450.57 339.68 726.41 2,975.41 390.43 27,322.63 33,881.13 3. Charltable dlstrfbutlons 2024 Total fund5 2023 Total lunds General fvnd5 Distrlbutions 28,885.IK) 28,885.1XJ 32.980. A total of 81 12023.. 1001 charitable dlstrlbutions totalling £28,885 12023.. £32,980) after one donation from last year was cancelled due to them not nE banked werè made to institutions and individua15 during the year for soclal welfaie and for the welfare of people in financial need, the specific details of which have not been disclosed. Gtwèrnance and inyestmert management costs 2024 Total funds 2023 Total fund5 General funds EDdovmient funds Governance cost5 Accountants, remuneration Sundries Investment management costs Broker Chae5 2,640. 2.640.1)0 2.940.00 60.00 7.566.48 7,566.48 7.951.82 2,7C4). 7.566.48 10.266.48 10.9SI.82 5. Galns or1055es on dlsposal of investment assets Any gaiTh$1110ssesl on the dlsposal of investments are sht)wn net of a5SOCiated c05t5. Galnslllos5esl are calculated on the difference between the market wdlue as at 6 April 2023, or cost If acqulred in the year, and the net sale proceeds. 6. Unrea115ed 8alns or105ses on revaluation of Investment assets The unreallsed gains or losses on thè revaluation of investrnent a55els represent the dlfference bètween the market value as at 5 Aprfl 2024 and the market value as at 6 April 2023 lor the acqulsition costs if the Investment was acquired in the yearl. 7. FIKed asset Investmènts The fixed assèt Investments are malntained as re5tri¢ted fvnds which cannot be dlstributed, whereas the Income is transferred to the unrestrirted fund and used for charitable purposes. The Investments are Included in the accounts at market walue at the balance sheet date as shown in note 13. Page 7
The J C Roblnson Trust No. 3 Charlty Reglstered Number 207294 Notes to the accounts- continued for the year ended 5 Aprll 2024 8. Cyedltors 2024 2023 Accruals Broker charge5 Postage AQuntsnts. remuneratlon acowal 1.007.46 180.¢XJ 2.640. 3,827.46 1,089.08 120.OD 2,640.00 3,849.08 9. Funds The unre5trirted fund may be used forthe distribution of funds for charitable purposes. The restrlcted fund Is comprised of the fixed asset Ir)vestrnents, and any incomè arlslng therefrom is transferred to the unrestricted fvnd. 10. Analysls of net assets b8tween funds Generdl lunds Endowment funds Total fvnd5 Investments Current assets Current liabilitles 618,177. 19,963.78 11,007.461 637,133.32 618,177.(M) 38,141.52 13,827.461 652,491.06 18,177.74 12.820.LK)I 15,357.74 11. Trustees, remuneratlon Nelther the trustees, nor any per50n5 winected with them, have received any remuneratlon durlng the year. The charkty has not met Indlvidual expense5 incurred by the trustees. except for £60 p05tagè 8nd stationary In 202412023.. £601 whith was incurred by Mi55 CM Howè. At the year end the tharlty owed Miss CM Howe £18012023.. £1201. 12. Employees The average number of employee5 dudng the year was NIL12023- NIL) 13. Kxed asset Investments 2024 2023 Market value as at 6 April 2023 Additlons D15posal Revaluation In the year Marketvalue as at 5 Aprll 2024 624.484.lJ) 50,175.54 177,677.tK)I 21,194.46 618,177.00 710.608.C(I 44,661.08 181,110.661 149,674.421 624,484.00 Investments are represented by: Sterling Fixed Interest Global fixed interest funds UK Equity shares UK Equity Funds fverseas Equrties Multi-Asset Funds Real Estate Investment Trusts Infrastructure Funds Private Equity Funds 63.808.00 47.069. 178,018.CO 13,162.(X) 186.274.00 31.535.00 11,985.00 68,964.00 17,362.C 618,177.fK) 40,685.00 62,230.00 191,236.1J) 13,840.IX) 160,936.1XJ 13,373.1]0 126,884.00 15,3CA).00 624,484.(M) 14. Controlllng party The trustees ha overall control of the trusL Page 8