THE DORIS BOUGHTON TRUST FUND (Registered Charity No. 210324) REPORT AND ACCOUNTS YEAR ENDED 5 APRIL 2022 MURPHY SALISBURY LIMITED 15 WARWICK ROAD STK4TFORD UPON AVON WARWICKSHIRE CV37 6YW
THE DOIUS BOUGHTON TRUST FUND REPORT AND ACCOUNTS CONTENTS PAGE TTUStees and Advisers Trustees and Management Committ¢c's Rqjort Independent Examiners, Rep Statement of Financial Activities Balance Sheet Notes to the Accounts
THE DORIS BOUGHTON TRUST FUND TRUSTEES AND ADVISERS CUSTODIAN AND INVESTMENT ADVISOR Smith and Williamson Investment Management 3 Floor, 9 Colmore Row Birniingham B3 2BJ TRUSTEES C M Bowden- appointed 20 October 2021 l Leach R Sparkes B Smart In addition Mr K Miles served a Trustee until his reSIatiOn on 26 April 2022 KEY MANAGEMENT C Shaw- Ad1iStratO[ M WilX - TruTer INDEPENDENT EXAMINERS Murphy Salisbury Limited 15 Warwick Road Stratford upon Avon Wanvickshire CV37 6YW BANKERS Barclays Bank plc I Churchill Place Lei¢ester LE87 2BB ADDRESS: 39 Admington Drive Hatton Park Warwick CV35 7TZ
THE DORIS BOUGFrroN TRUST FUND REGISTERED CHARrrY NO. 210324 TRUSTEES, ANNUAL REPORT The Trustees present their report along with the financial statements of the Charity for the year ended 5 April 2022. The financial statements have been prepared in acwrdance with the accounting policies set out on page 7 and eomply with the 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 publxshed on 16 July 2014 (as amended by Update Bulletin I published on 2 February 2016). Structure, Governance and Management The Fund w&s establish¢d by Trust Deed on 26 Septemb¢r 1949 and is gov¢m¢d by the Trust Deed between Edward Bishop Boughton and Barclays Bank TTUSI Company Limited the Custodian Trustcc. On 6 Septembcr 2001, 8 January 2014 and on 20 April 2015, the Charity Commissioners approved a scheme to aJn¢nd th¢ original Tnt Deed to reflect the filture structure of the Trust and discharge Barclays Bank TrLLSt Company Limited from its trnsteeship appointing th¢ members of the existing Committee in their place. Objectives and Activities To maximise the income to the Fund to give financial assistance to employees and ex employees (includkng their dependants) of Iwhitnash PLC (fomierly Autornotive Products PLC) together with the continuing businesses which were UK Subsidiaries of Automotive. Products Group Ltd at any time up to 31 December 2006, who are, in the opinion of the Trustees, in need of such assistance. The Trustees have given consideration to the Charity Commission's general guidance on public benefit when reviewing its aims and objectives. Achievements and Performance Grants totalling £40,209 were made to 61 beneficiaries during the year (2021 . £31,770 to 66 beneficiaties). The grants made in the year included an additional £100 to each beneficiary towards the incrEased st of their electricity bills. Financial RevieTY The Statement of Financial Activities on page 5 shows net outgoing resources for the y¢ar of £22.323 (2021 nd outgoings £19,725). The change in the value of the Fund due to recolsed gains on investments during the year was £52,269 (2021 reCOlSed gains £474.529) making the total net movement in the year an increase in the Fund's assets of £29.946 (2021.. gain of £454.804). Investment Report and Perfonnance The Investment Advisors have continued to endeavour to generdte sufficient income from the investments to maintain CUent benefits whilst maintaining the real value of the investment nd to support the payment of future benefits. The income lor the year benefitted from the return of dividends paid by companies to that close to their pr¢-pandemic levels. The value of the investment portfolio followed the trend of worldwide slockmarkets with an increase in the early part of ihe year. follow by a decline in the last six months, resulting in a net increase of £29.946.
THE DORIS BOUGETfoN TRUST FUND REGISTERED CHARTTY NO. 210324 TRUSTEES. ANNUAL REPORT Re5erve5 Policy It is the policy of the Charity to maintain unrestricted funds at a level which provides sufficient funds to cover managetnent and administration and support costs to respond to applications for grdnts. unrestrict funds were maintsined at this level throughout the year. Responsibility of the Trnstees in relatioD to the financial statements The Charity trustees are responsible for prq)aring a trustees. annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards. The law applicable to charities in England and Wales requires the trusteds) to prepare financial statements for each financial year which give a true and fair view of the charity's financial aCtItieS during the year and of its financial wsition at the end of the year. In preparing financial statements giving a lrne and fair view. the tteeS should follow best practi¢¢ and= select suitable accounting policies and then apply them consistently" observe the methods and principles in the applicable Charities SORP. ake judgements and estimates that are reasonable and prudent" state whether applicable accounting standards have been followed, subject to any matetial departures thal must be disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unless it is inappmpriate to presume that the charity will continue in operation. The trustees are responsible for keeping accounting records that disclose with re&sonable accurdcy at any time the financial position of the charity and to ¢nable th¢m to ¢nsur¢ that th¢ financial statements comply with the Chariti¢5 Act 2011, the applicable Charities (Accounts and R¢ports) Regulations and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and taking re&sonable stq)s for the prevention and detection of fraud and other irregularities. Approved by the Trustees and signal on their behalf by: Signed: M WILCOX Treasurer Approved by the Trustees on: Date:
INDEPENDENT EXAMINERS, REPORT TO THE TRUSTEES OF THE DORIS BOUGErroN TRUST FUND I report to the charity truslees on my examination of the accounts of th¢ charity for th¢ y¢ar ended 5 April 2022 which are set out on pages 5 to 9. 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 th¢ 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 carying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b} of the Act. The charity's trustees consider that an audit is not wulr1 for this year under section 144 of the Act and that an independent examination is need. Independent eXalDerS, statement I have completed my examination. I confirni that no mat¢rial matters hav¢ com¢ to my attention in conn¢¢tion with the examination giving me cause to believe that in any material r¢spect: accounting records were not kept in respect of th¢ charity as required by section 130 of the Act" or the accounts do not accord with those records; or th¢ accounts do not comply with the applicable requirements concerning the forni and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requiretnent that the accounts give a 'tnJe and fair view. which is not a matter considered as part of an independent examination. I have no concerns and have come across no oth¢r matters in comiection with th¢ examination to which attention should be drawn in this rqx)rt in order to enable a proper understanding of the accounts to be reach. Certificate Date........ Steve Walsh FCA MuTphy Salisbury Limited 15 Wanvick Road Stratford upon Avon Wanvickshite CV37 6YW
THE DORIS BOUGETTON TRUST FUND STATEMENf OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 5 APRIL 2022 2022 2021 Notes Incoming Resourees Invesknent Income 44.968 37.303 Total Incom¢ 44.968 37,303 Re3ouree5 Expended tnveslment Management Costs Charitable Activities Governance Costs 13.095 40,209 13,987 11,408 31,770 13,850 Total Expenditure 67.291 57,028 Net ineomel(expenditsre) before InVeSt¢t gains and losses (22.323) (19,725) Profit on Sales of Investments Gains/(lo&ses) on Investments 133,441 {81,172) 142,706 331,823 Net Movement in Funds 29,946 454,804 Reconeilirdtion of funds: TotaI funds brought forward at 6 April 2021 1,803,706 1.348,902 Total fijnds carried forward at 5 April 2022 IW3,652 1,803,706 The notes on pages 7 to 9 forni part of these accounts.
THE DOIUS BOUGHTON TRUST FUND BALAIYCE SHEET AS AT 5 APIUL 2022 2022 2021 Notes FIXED ASSETS Managed Fund Investments- Government Securities Fixed Interest Indexed Linked UK Equities Unit Trust Property Funds North America Europe Far Easl Rest of World 3,203 193,213 43,280 676.330 297,327 85,923 74,674 26.505 148.619 221,364 156,336 44,552 557,496 267234 157,958 85,045 26.325 199,535 306.585 1.801.066 1.770.438 CURRENT ASSETS Cash at Bank 45.634 48,341 45.634 48,341 CREDITORS: Amounts falling due within one year 13.048 15,073 NET CURRENf ASSETS 32.586 33,268 NET ASSETS 1,833,652 1,803.706 FUNDS OF THE CHARITY unrtrICted Funds 1,833,652 1,803,706 Approved by the Committee on Ao o J. kn Io IL .. (Treasurer) E A M WILCOX
THE DORIS BOUGHTON TRUST FUND NOTES TO THE AccouNfs FOR THE YEAR ENDED 5 APRIL 2022 Basis of Accounting The financial statements have been prepar in accordance with Accounting and Reporting by Charities: Statement of Recornmended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 (as amended by Update Bulletin I published 2 February 2016), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. The financia] statement5 have been prepaTaJ under the historical cost convention with the exception that investments are included at market value. The charity constitutes a public benefit entity as defined by FRS 102. The trust¢es con5id¢r that there ar¢ no material unc¢rtainties about th¢ Trust's ability to continue as a going c<)n¢ern. Accounting Policies 2) Ineoming Resourees All incoming Tesourc¢s are recognised once the Charity has entitlement to the. resources, it is certain that the resources will be received and the monetary value of incoming resources can be Tneasured with sufficient reliability. b) Resources Expended Expenditure 15 recognised on an ac¢nl basis as a liability is incurred. Expenditure includes irrecov¢rabl¢ VAT and is rwrted &s part of the expenditure to which it relates. Grdnts payable are payments made to third parties in the furtherance of the charitable objectives of the Trust. The grdnts are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in th¢ Charity's control. Governance costs comprise all costs involving public ac¢ountability of the charity and its compliance with regulation and good practice. c) Fixed Asset Investments Investments are stated at market value as at the Balance Sheet date. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.
THE DOIUS BOUGErroN TRUST FUND NOTES TO THE AccouKfs FOR THE YEAR ENDED 5 APRIL 2022 {Con¢¢nued) d) 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 sale proceeds and opening market value {purch&se date if later). Unrealised gains and losses are calculated as the difference between the market value at the end of the year end and opening market value (or purchase date if later). Realised and unrealised gains are not separated in the Statement olFinancial Activities. 3. Charitable Activities 2022 2021 Grants of financial &ssistance to individuals 40209 31,770 4. Analysis of Governance Costs 2022 2021 Salaries Independent Examiners, Fee Accountancy Stationery and Postage Professional Fee 11,897 1,013 1,007 70 11,830 1,013 863 144 13,987 13,850 S. Trustees, RemuDeratioD and Related Party Transactions The following Key Management received salaries and expenses duTing the year. 2022 2021 Salaries: M Wilcox C Inglis 3,140 8,757 3,073 8,757 11,897 11,830 2022 2021 Exp¢ns¢s: No other Key Management or Trustees receivsj remuneration or expenses. The average numb¢r of ¢mploy¢¢s during the year w&s 2 {2021: 2).
THE DORIS BOUGETfOI¥4 TRUST FUND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2022 (Conlinued) 6. Flxed Asset Investments 2022 2021 Market Value 6 April 2021 Add: additions to investments at cost Less: disposals at cost Add.. net gain /{loss) on revaluation 1,770,438 293279 (181,479) (81,172) 1,302,796 387.293 (251,474) 331,823 Market Value 5 April 2022 1*01.066 1,770,438 Historical Cost of Managed Fund Investments £ 1,420.445 £ I J08.646 The Trnstees have given the Investmeni Advisers responsibility for the Management of the Investmenl Portfolio in accordance with an investment approach agreed by the trustees. 7. Creditors 2022 2021 Amounts falling duc within one year. Accruals Payroll Tax 12,452 596 14,481 592 13,048 15,073 8. Revenue Reserves The fvnds recognised as Revenue Reserves at 5 April 2022 were £129.137 { 2021: £132.189) and it is Confinned that there are sufficient fLmds available to cover fluctuating levels of requests for supp)rt. which may exceed a single yurs incom¢, for the foreseeabl¢ futur¢, in line with the policy of the Trust.