**CHARITY NUMBER 209743** ## **THE MACDOUGALL TRUST** ## **FINANCIAL STATEMENTS** **FOR THE YEAR TO 31[st] MARCH 2024** ## **THE MACDOUGALL TRUST** ## **INDEX** ||Page| |---|---| |Details of Trust|1| |Report of the Trustees|2 – 3| |Statement of Financial Activities|4| |Balance Sheet|5| |Notes to the Accounts|6 - 8| - 1 - ## **THE MACDOUGALL TRUST** ## **DETAILS OF TRUST** |Charity Commission No.|209743| |---|---| |Established:|By Scheme of Arrangement| ||Dated 31stMarch 1981| |Address:|C/O Church of St Mary| ||Blandford St| ||Mary| ||DT11 9ND| ||Trustees:| ||Mrs J.M.C. Carlyle-Clarke (Chairman)| ||R.A. Gregory Esq. (Deputy Chairman –| ||resigned 04/12/2023)| ||N Over Esq. (appointed 26/06/23,| ||Deputy Chairman – appointed| ||19/03/2024)| ||Mrs A.V. Lea| ||M.A. Palmer Esq.| ||M.G. Taylor Esq.| ||Lady Caroline Salt| ||Mrs J Kretz MBE| ||Mrs H Palmer| ||Dr G Sparrow (appointed 19/03/2024)| |Administrator|Mrs M Marler-Roe| ||Mrs Lisa Francis| |Bankers:|Lloyds TSB Plc| ||132 High Street| ||Poole| ||Dorset| |Independent Examiner:|Mrs G. Baverstock,| ||Sheepfold Cottage,| ||Farnham,| ||Blandford Forum,| ||DT11 8DE| - 2 - ## **THE MACDOUGALL TRUST** ## **REPORT OF THE TRUSTEES** **For the year to 31[st] March 2024** The Trustees hereby report on the establishment and the objects of The MacDougall Trust and the activities of the Trust during the year ended 31[st] March 2024. ## **Establishment** The charity was established under a scheme of arrangement made by the Charity Commission and sealed on 31[st] March 1981. The “Working Ladies Guild” (The Guild) was originally established in London in April 1877, and later opened a branch in Bournemouth. Under the Charity Commission scheme the assets of the Bournemouth Branch of the Guild were transferred to the Trustees of the MacDougall Trust, and the investments were invested with the Official Custodian for Charities. The Trustees of the Guild owned a house known as Roxbury House, in Poole Road, Bournemouth. The name of this house was subsequently changed to the “Douglas MacDougall Memorial Home”. ## **Objects** The objects of the Trust are to provide for the benefit and social welfare of persons resident in Bournemouth and in the County of Dorset and in the neighborhood thereof, and who in the opinion of the Committee are in reduced and necessitous circumstances, with the object of improving the conditions of life for such persons. The Charity is open to applications from members of the public who meet the above criteria, and operates for public benefit in line with Charity Commission guidance. ## **Endowment** The Trust's capital assets consist of the original investments transferred from the Guild, together with the proceeds of sale of the Douglas MacDougall Memorial Home. Since divestment by the Official Custodian for Charities the Trustees have held the Trust's investments in Charitable Common Investment Funds. The Trustees’ policy is to hold the majority of the funds in bonds and fixed interest funds, with the remainder divided between an equity-based fund and a property fund with a view to potential growth. ## **Organisation** The Trustees are referred to as the Committee of Management, of whom there must be six persons, but not more than twelve. The Committee has the power to appoint new Trustees to fill vacancies in their number. The Committee meets four times each year to oversee the management of the Charity and distribute the surplus funds in accordance with the Trust’s objectives. The Committee has appointed an administrator who deals with the administration of the Trust and distribution of the grants on a fee basis. ## **Investments** The Trust's investments are included in the accounts at 31st March 2024 at their Market Value of £196,960 (2023 - £198,583), a loss in value of £1,623 in the year, (loss in value of £18,380 in 2022-23 accounts). Full details of the Trust’s Investments are given in note 5 on page 7 of the accounts. THE MACDOUGALL TRUST REPORT OF THE TRUSTEES For the yegr to 31* March 2024 (CODL) Th¢ Trustees distribute the net income of the Trust on a quartcrty basi& aiming to retain reserve of around £l.000 of unrestricted fimds to provid¢ for wsts and emergency needs. Risk A&qaqment The Trustees have eoDsidered the risks to whtch the Trust is subject and bave taken steps to mitigat¢ the effcct of their occurrence. Specificallv th¢ Tru5te¢s have consid¢r¢d the investment risk and are satisfied that the Tn￿t'S assets which are held entirely in professionalty managed charitable ci)mmon investment fimds and an exempt unit bus¢ are being held in a prudent manner. Activilies in the Yegr Durin8 th¢ year the received incA)me of £32.016 (2023 - £12.435), as set out in the Ststemcnt of Financial Activities on page 4. Th¢ Trust¢C5 m¢t four tim¢E to consider applications, and to distribut¢ Grants and Gifts amounting in total to £23,957 (2023 - £16.928). Thcrc are £3715 of grdnts plalged but not distributed at th¢ year-end (2023 - £nil). The income includ¢d wts amounting to £20,(M)O friym the Valentine Trusl (2023 - nilA £nil from th¢ Cooper Dean Charttable Trust (2023 - £nil). £2.01)O from th¢ Gff¢nhill Trust (2023 - £4,000) all of whtch are held &s restricted income. Grants and pledges amounting to £12.555 (2023 - £12.335) have been made from these grdnts and the unused balances from grants received in previous years from the same Trusts, in line with the criteria agreL¥l with their r¢syK¢tiv¢ TTustres. There w&5 no administrdtion fee transfer (2023 - £400) from the Greenhill TTUSt to the General fimd. The Moss fund is now closed. No Change in p)licy is anticipated for the foresee#ble fith. (si￿￿ed) Mrs J.M.C. Cartyle-clatke Chairnwi - 4 - ## THE MACDOUGALL TRUST ## STATEMENT OF FINANCIAL ACTIVITIES |Year to 31st March 2024
Notes
**INCOMING** **RESOURCES**
Voluntary Income
8
Investment Income
2
Total Incoming Resources
**RESOURCES** **EXPENDED**
Direct Charitable Activities
3
Governance Costs
4
Total Resources Expended
Net Incoming (Outgoing)
Resources before Transfers
Transfers between Funds
Net Incoming (Outgoing)
Resources for the Year
OTHER RECOGNISED GAINS & LOSSES
Gains (Losses)
on Revaluation of Investments
Realised Gains Or Losses
on Sale of Investments|Unrestricted
Funds
Restricted
Funds
Endowment
Fund
Total 2024
Total 2023
£
£
£
£
£
0
22,000
0
22,000
4,000
10,016
0
0
10,016
8,435| |---|---| ||10,016
22,000
0
32,016
12,435| ||14,243
12,555
0
26,798
20,951
60
0
0
60
88| ||14,303
12,555
0
26,858
21,039| ||-4,286
9,445
0
5,159
-8,603
0
0
0
0
0| ||-4,286
9,445
0
5,159
-8,603
0
0
-1,623
-1,623
-18,380
0
0
0
0
0| |**FUND** **BALANCES:**
At 1st April 2023|-4,286
9,445
-1,623
3,536
-26,983
9,019
16,730
198,583
224,332
251,315| |At 31st March 2024|£4,733
£26,175
£196,960
£227,868
£224,332| There were no recognised gains or losses for 2023 or 2024 other than those included in ` the Statement of Financial Activities. The starting fund balance for unrestricted and restricted funds has been amended to take into account a discrepancy in the 2022-2023 accounts which has now been corrected. The notes on pages 6 to 8 form part of these accounts. niE MACtK)UGALL TRUST BAIANCE SI￿ET &8 at 31sc March 2024 2024 2023 CAPITAL FUND Inve5tmeots at Market Value 196,960 198,583 COME FUND CvrrentAssets l¢ss Liabi]itics Debtors Cash at Battk 34.612 25.749 Net CLDretEt Ass¢ts 30,9 £227 8&d 25.749 £224 332 R¢pr¢scntcd by. EndotVm￿l Fund Restricted Fund UnreSM¢￿d FuDd 196.960 26,175 98J83 16,730 9.019 Fund Bal￿¢¢8 The FInallci￿ Stat￿lIents were approved ty the TTiJ#ees on and sigtted on their ￿half by:_ Frust¢e.' Mrs J C2rlyle-ClaTke Trustee.. Lady Carotine Salt The notes on pages 6 10 8 fomi of these a¢couDL - 6 - ## THE MACDOUGALL TRUST ## NOTES TO THE ACCOUNTS For the year to 31st March 2024 ## 1. ACCOUNTING POLICIES ## 1.1. The financial statements have been prepared under the historical cost convention, and in accordance with applicable accounting standards. ## 1.2. Investment income is reflected in the financial statements when received as are grants receivable from Grant making Trusts, except that the annual grant from the Valentine Trust is allocated to the year in which distributions are made from this fund. Such grants are treated as Restricted Income. 1.3. Grants and Gifts distributable are accounted for on the date of commitment, and are analysed between grants expended and grants pledged. Grants are made only to or for individuals living in necessitous circumstances for specific needs and on the recommendation of a competent authority. These grants are sometimes channeled through other Charitable organisations. 1.4 The Trust is not registered for VAT purposes, and any input VAT is treated as a part of the relevant expenditure. |2. INVESTMENT INCOME
M & G Charifund Dividends
M & G Bond Income
COIF Fixed Interest Dividends
Charities Property Fund Dividends
Bank Deposit Interest|Unrestricted
Fund
Restricted
Fund
Endowment
Fund
Total
2024
Total
2023
3,998
0
0
3,998
3,882
463
0
0
463
307
1,375
0
0
1,375
1,610
3,598
0
0
3,598
2,450
582
0
0
582
187| |---|---| ||£10,016
£0
£0
10,016
£8,435| |3. DIRECT CHARITABLE ACTIVITIES
3.1. GRANTS & PLEDGES FROM:
General Fund
Greenhill Fund
Valentine Fund
Cooper Dean Fund
Moss Fund|11,402
0
0
11,402
4,843
0
3,299
0
3,299
2,927
0
7,908
0
7,908
7,538
0
1,348
0
1,348
1,870
0
0
0
0
0| ||11,402
12,555
0
23,957
17,178| |3.2. ADMINISTRATIVE EXPENSES
Management Charges
General Expenses
Web Site/IT Expenses
Bank Charges
Total Direct Charitable Activities
4. GOVERNANCE COSTS
Accountancy|2,464
0
0
2,464
3,720
64
0
0
64
3
312
0
0
312
50
0
0
0
0
0| ||2,840
0
0
2,840
3,773| ||£14,243
£12,555
£0
£26,798
£20,951| ||£60
£0
£0
£60
£88| - 7 - ## THE MACDOUGALL TRUST ## NOTES TO THE ACCOUNTS (Cont.) FOR THE YEAR ENDED 31st March 2024 |5. INVESTMENTS
Nominal
Stock|Cost
Revaluation
Market
Purchases
Sale or
Profit
Cost
Profit or
Market
at
Reserve
Value at
& Sales
Redemption
Less Loss
at
Loss on
Value at
31/03/2023
B/Fwd
31/03/2023
at Cost
Proceeds
On Sales
31/03/2024
Revaluation
31/03/2024| |---|---| |**COMMON** **INVESTMENT** **FUNDS** **&** **BONDS**
4,648.74
M&G Charifund
11,574.08
M&G Charibond
50,001.51
COIF Fixed Interest Fund
46,663.00
Charities Property Bond
Totals|31,731
37,218
68,949
0
0
0
31,731
-1,259
67,689
15,000
-2,321
12,679
0
0
0
15,000
103
12,782
62,959
-4,267
58,692
0
0
0
62,959
2,795
61,487
50,000
8,263
58,263
0
0
0
50,000
-3,262
55,002| ||£159,690
£38,893
£198,583
£0
£0
£0
£159,690
-£1,623
£196,960| - 8 - ## THE MACDOUGALL TRUST NOTES TO THE ACCOUNTS For the year to 31st March 2024 (Cont.) |6. DEBTORS falling due within one year
Income Tax Reclaimable
Grant refund due
7. CREDITORS falling due within one year
Grants Payable
Grants Pledged
Governance costs
Deferred Income
8. RESTRICTED FUNDS
Greenhill
**Opening Balance 1st April 2023**
2,061
**Year to 31st March 2024**
**INCOME**
Grants Received
2,000
**EXPENDITURE**
Grants Made/-Returned
2,754
Pledges Outstanding
545
3,299
Transfers -to/from Unrestricted Fund
0
**Balance at 31st March 2024**
£762|6. DEBTORS falling due within one year
Income Tax Reclaimable
Grant refund due
7. CREDITORS falling due within one year
Grants Payable
Grants Pledged
Governance costs
Deferred Income
8. RESTRICTED FUNDS
Greenhill
**Opening Balance 1st April 2023**
2,061
**Year to 31st March 2024**
**INCOME**
Grants Received
2,000
**EXPENDITURE**
Grants Made/-Returned
2,754
Pledges Outstanding
545
3,299
Transfers -to/from Unrestricted Fund
0
**Balance at 31st March 2024**
£762|2024
0
0|2023
0
0
£0
0
0
0
0
£0
Cooper Dean
Total| |---|---|---|---| |||£0|| |||0
3715
0
0|| |||£3,715|| |||Valentine|| ||2,061|9,667
5,002
16,730|| ||2,000|20,000
0
22,000|| ||2,754
545|6,228
1,348
10,330
1680
0
2225|| ||3,299|7,908
1,348
12,555|| ||0|0
0
0|| ||||| ||£762|£21,759
£3,654
£26,175|| ## 9. TRUSTEES REMUNERATION No remuneration or other benefit has been paid or is payable to any Trustee or connected person, and no expenses have been paid or are payable to any Trustee. ## 10. CAPITAL COMMITMENTS There were no capital commitments at 31st March 2023 or 31st March 2024. Independent examlnevs report to the trustees of the MacDougall Trust I report to the trustees on my examinatKm of the accounts of the MacDougall Trust (the Trust) for the year ended 31 March 2024. Re8ponslbllttles and bas18 of report As the charity trustees of the Trust you are responsible for the prepar￿lon of accounts In accordance wth the requirements of the Charits'es Act 2011 ('the ACY). I report in respect of my examination of the Trusi's accounts carried out under section 145 of the 2011 Act and in carying out my examinab'on I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Indepondent examlnerfs statement I have completed my examinab'on. I confimi that no material matters have cx)me to my attention in connection wrth the examination giving me cause to believe that in any material respect.. 1. accounting records were nol kept in respect of the Tfust as required by 88th.on 130 of the Act., or 2. the accounts do not accord with those records. I have no conr2ms and have cx)me across no other matter3 in cOnn￿lon 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. Signed.. Mrs Gillian Baverstock Sheepfold Cottage Farnham Blandford Forum DT118DE Date: g o Uan