2021-12-31-accounts - Eva Reckitt Trust Fund

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Charity no: 210563

EVA RECKITT TRUST FUND

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

EVA RECKITT TRUST FUND

CONTENTS
	Page
Legal and Administrative Information	3
Trustees’ Annual Report	4 - 7
Independent Examiner’s Report	8
Statement of Financial Activities	9 - 10
Balance Sheet	11
Notes to the Financial Statements	12 -21
Appendix A, Details of the Larger Grants Made	22

EVA RECKITT TRUST FUND

Legal and Administrative Information

The Trust was established under a declaration of Trust dated 16 May 1940

Charity Commission Registration number: 210563

The Trustees are appointed by the Trustees in accordance with Clause 19 of the Trust Deed dated 16 May 1940

dated 16 May 1940
Manager	David Birch
Principal Address	44 Hambidge Lane
	Lechlade
	Glos. GL7 3BL
Bankers	CAF Bank
	25 Kings Hill Avenue
	Kings Hill
	West Malling
	Kent ME19 4JQ
Investment Managers	CCLA
	One Angel Lane
	London EC4R 3AB
Independent Examiner	Godfrey Wilson Limited
	5thFloor Mariner House
	62 Prince Street
	Bristol
	BS1 4QD
Trustees	David Birch
	Anna Bunney
	Diana Holliday
	Meg Whittaker

EVA RECKITT TRUST FUND

Trustees’ Annual Report

The Trustees present their report together with financial statements for the year ended 31 December 2021.

The financial statements comply with the current statutory requirements, the Trust Deed, the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities (effective January 2019).

The financial statements have been prepared on a historic cost basis with the exception of investments which are valued at the date of the balance sheet.

Objects of the Charity

The Eva Reckitt Trust Fund was established under a declaration of Trust dated 16[th] May 1940 with the following objects:

a. The relief of poverty amongst persons who have been in the service of the family of the founder.
b. The publication and distribution of books, papers or periodicals directed towards the extension and development of education amongst the poor and the general betterment of their conditions.
c. The promotion and encouragement of research into problems affecting the poor and the conditions in which they live.
d. The relief of poverty and distress amongst persons who suffer as a result of national, international or industrial unrest political or legal injustice tyranny oppression or persecution.
e. The relief of poverty amongst persons who suffer hardship as a result of war.
f. The support and encouragement of movements having as their object the betterment and welfare of the poor.

Trustees

David Birch Anna Bunney Diana Holliday Meg Whittaker

Trustees are appointed by the surviving trustees upon the death or retirement of a trustee in accordance with Clause 19 of the 1940 Trust Deed as modified by the 1959 Deed of Variation. Each trustee may nominate a replacement trustee who then, if not already known to the other

trustees, attends several trustees’ meetings as an ex officio member, and then the trustees decide on whether to appoint the proposed person as a trustee.

Responsibilities of the Trustees

The Trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees are to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and the incoming resources and application of resources, including the net income or expenditure, of the charity for the year. In preparing those financial statements the Trustees are required to:

Select suitable accounting policies and then apply them consistently;
Observe the methods and principles in the applicable Charities SORP;
Make judgements and accounting estimates that are reasonable and prudent;
State whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and
Prepare the financial statements on the 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 which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The Trustees are members of the Charity, but this entitles them only to voting rights. The Trustees have no beneficial interest in the charity. The Trustees are responsible for making grants from the Trust funds in conformity with the Trust’s objects given above.

Activities for the Public Benefit

The Trustees have continued to make grants within the objects of the Charity as stated above. A list of the 41 grants made during 2021 is included on pages 18 and 19 and details of the 5 largest grants, which amount to 38% of the total grants given in 2021, are given in Appendix A.

The Objects of the Trust are given above. The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on Public Benefit when

reviewing the Trust’s aims and objectives and in planning future activities and setting the grant making policy for the year.

The Trustees meet, usually quarterly, to discuss and agree matters affecting the Trust including its investments, financial statements and agree to make grants within the objects stated above. The Trustees also try and meet with a few of the main organisations that the Trust is helping to finance each year.

Requests for grants from the Trust are received in three main ways:

Unsolicited requests from other charities and individuals, largely arising from the Trust’s entry in the Charity Commissioner’s web site and the Directory of Grant Giving Trusts.
The Trust has supported a number of charities for a considerable period of years and requests are received from these for further funds.
The Trustees themselves each have particular interests and are proactive between meetings in contacting organisations and charities within their areas of interest to see whether the trust can help such organisations.

At each of the meetings of the Trustees requests are considered and a unanimous decision reached as to which to support and how much grant to give each organisation.

The Trustees have a policy of generally not providing funds directly to individuals. This is because the Trustees do not have the resources to check the bona fides of such cases or to monitor the use of such grants. The exception to this is where individuals are known to the Trustees or contacts of the Trustees and whose requests comply with one of the Trust’s objectives. The Trust does however support individual cases through other charities which are able to monitor the use of the funds.

Review of Financial Position

The financial statements for the year ended 31 December 2021 show an increase of expenditure over income of £8,560. After allowing for realised and unrealised gains on investments of £135,728 funds have increased by £127,168 in the year.

Reserves Policy

The Trust’s investments are unrestricted. The Trust’s investments are held in selected funds by CCLA Investment Management Limited (Registered in England No. 2183088). The funds are selected to achieve a balance between capital appreciation/depreciation and income. The Trustees as a grant making trust hold the reserves to provide income for grants and the withdrawal of capital to enable them to distribute an annual level of grants which provide for the sustainable continuation of the Trust and which is currently considered to be about £50k. CCLA investments are highly ethical, one of the key reasons that the Eva Reckitt Trust has chosen CCLA for its investments.

Risk Assessment

The Trustees have reviewed the major risks to which the Trust is exposed and are satisfied that systems are in place to mitigate the exposure to these risks.

For many charities the COVID-19 pandemic has been a major issue. However, for us CCLA have continued to perform well, with our investments showing a significant increase in 2020 and maintaining their value in 2021 to end August and our income from investments continues to hold up to similar levels as last year. Moreover, since we only spend what we earn from our income and some sales of increasing capital above inflation, COVID-19 is not a risk to the Charity and we are well able to continue as a going concern.

Investments

The Trust holds its investments in several Funds held by CCLA. CCLA are specialist investment managers for charities, faith organisations, and local authorities that provide a range of funds designed specifically for charities and which is owned entirely by its charity, faith and local authority clients and managed exclusively for their benefit. CCLA Investment Management Limited is authorised and regulated by the Financial Services Authority.

The Trustees have arranged for CCLA to transfer the income from the investments held by CCLA quarterly to the Trust’s current account for use in paying out as grants and expenses.

Approved by the Trustees on 17[th] October 2022 and signed on their behalf by

David Birch Manager and Trustee

THE EVA RECKITT TRUST FUND

INDEPENDENT EXAMINER’S REPORT ON THE FINANCIAL STATEMENTS

I report to the trustees on my examination of the accounts of the Eva Reckitt Trust Fund for the year ended 31 December 2021, as set out on pages 9 to 21.

Responsibilities and basis of report

As the charity trustees of the Trust 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 Trust’s accounts carried out under section 145 of the 2011 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:

accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.

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.

William Guy Blake

William Guy Blake ACA For and on behalf of: Godfrey Wilson Limited 5[th] Floor Mariner House Prince Street Bristol BS1 4QD

Date: 18[th] October 2022

EVA RECKITT TRUST FUND

Statement of Financial Activities for the Year Ended 31 December 2021

Note Income from: Investments Donations Total income Expenditure on: Charitable activities 4 Total expenditure Net income/(expenditure) before gains and losses Net gains/(losses) on investment assets: Realised Unrealised Net income/(expenditure) Transfers between funds Net movement in funds Reconciliation of funds: Fund balances brought forward Fund balances carried forward* 7	2021 Unrestricted Funds 2021 Restricted Funds 2021 Total Funds £ £ £ 33,809 0 33,809 0 14,223 14,223
	33,809 14,223 48,032
	42,369 14,223 56,592
	42,369 14,223 56,592
	(8,560) 0 (8,560) (299) 0 (299) 136,027 0 136,027
	127,168 0 127,168 200 (200) 0
	127,368 (200) 127,168 952,822 0 952,822
	1,079,990 0 1,079,990

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 7 to the accounts.

2020 Accounts showed £200 in restricted funds carried forward, this has been transferred to unrestricted with the permission of the donor during 2021.

EVA RECKITT TRUST FUND

Statement of Financial Activities for the Year Ended 31 December 2020 (Prior Period)

Note Income from: Investments Donations Total income Expenditure on: Charitable activities 4 Total expenditure Net income/(expenditure) before gains and losses Net gains/(losses) on investment assets: Realised Unrealised Net movement in funds Reconciliation of funds: Fund balances brought forward Fund balances carried forward 7	2020 Unrestricted Funds 2020 Restricted Funds 2020 Total Funds £ £ £ 34,220 0 34,220 0 9,864 9,864
	34,220 0 44,084
	55,766 9,864 65,630
	55,766 9,864 65,630
	(21,546) (0) (21,546) 64 0 64 54,946 0 54,946
	33,464 0 33,464 919,158 200 919,358
	952,622 200 952,822

EVA RECKITT TRUST FUND

Balance Sheet as at 31 December 2021

Notes 2021 £ £ FIXED ASSETS Investments 5 1,072,193 CURRENT ASSETS Cash at Bank: Current Account 8,320 COIF Charities Deposit 233 8,553 CURRENT LIABILITIES Creditors - amount falling due within 1 year: Accountancy and Examiner's Fees (756) (756) Net Current Assets 7,797 NET ASSETS 8 1,079,990 Represented by: Restricted Funds 0 Unrestricted Funds 1,079,990 TOTAL CHARITY FUNDS 1,079,990 Approved by the Trustees on 17thOctober 2022 and signed on their behalf by	2020 £ 844 233	£ 952,465 357
	1,077
	(720)
	(720)

		952,822
		200 952,622
		952,822

David Birch Manager and Trustee

EVA RECKITT TRUST FUND

Notes to the Financial Statements for the Year Ended 31 December 2021

Accounting Policies
a. Basis of accounting

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Eva Reckitt Trust Fund meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

b. Going concern basis of accounting

The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. The trustees considered the impact of the COVID-19 pandemic when assessing going concern. The trustees concluded that the charity was a going concern as it only spends what is earned from the investments. The trustees reviewed the investments and noted that they had maintained their value between the start of the year and the end of June and income has been similar to the prior year. Therefore, the trustees believe there are no material uncertainties about the charity's ability to continue as a going concern.

c. Funds accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

d. Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Investment income is recorded when receivable and deemed unrestricted and available for distribution.

EVA RECKITT TRUST FUND Notes to the Financial Statements (Cont’d) for the Year Ended 31 December 2021

e. Expenditure and grants payable

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Expenditure on grants is recorded once the charity has made an unconditional commitment to pay the grant and this is communicated to the beneficiary or the grant has been paid, whichever is earlier.

f. Support and governance costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated in full to the charitable activities on the basis that all resources and time are spent in this area. No significant resources are directed towards raising funds.

g. Investments

Investments are stated at market value at the balance sheet date. Realised and unrealised investment gains and losses that are made during the year are reflected in the Statement of Financial Activities. The types of investment are shown at note 5.

h. Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered.

i. Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

j. Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

EVA RECKITT TRUST FUND Notes to the Financial Statements (Cont’d) for the Year Ended 31 December 2021

k. Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

l. Accounting estimates and key judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.

Asset valuation

As described in note 1(g) to the financial statements, investments are stated at market value at the balance sheet date.

EVA RECKITT TRUST FUND Notes to the Financial Statements (Cont’d) for the Year Ended 31 December 2021

2. Employees

The Trust has no employees.

During the year, 4 trustees were paid fees totalling £400 (2020 £400, 4 trustees) as permitted by the charity’s Trust Deed. The trustees also received reimbursed expenses totalling £Nil (2020 £151, 4 trustees), related to travel and subsistence.

3. Related party transactions

There were no related party transactions during the year other than those disclosed in Note 2.

4. Total expenditure

Grant payable (see note 6) Administration and management: Insurance and Zoom costs Trustees’ fees and expenses Independent examiners fees Bank charges Sub-total Reallocation of support and governance costs Total Expenditure	Charitable activities £ Support & governance costs £ 2021 Total £ 54,887 0 54,887 0 0 347 400 347 400 0 756 756 0 202 202
	54,887 1,705 56,592 1,705 (1,705) 0
	56,592 0 56,592

Governance costs for the year were £1,705 (2020: £1,766).

EVA RECKITT TRUST FUND Notes to the Financial Statements (Cont’d) for the Year Ended 31 December 2021

4. Total expenditure (continued)

Prior period comparative: Grant payable (see note 6) Administration and management: Insurance Trustees’ fees and expenses Independent examiners fees Bank charges Sub-total Reallocation of support & governance costs Total Expenditure	Charitable activities £ Support & governance costs £ 2020 Total £ 63,864 0 63,864 0 210 210 0 551 551 0 720 720 0 285 285
	63,864 1,766 65,630 1,766 (1,766) 0
	65,630 0 65,630

EVA RECKITT TRUST FUND Notes to the Financial Statements (Cont’d) for the Year Ended 31 December 2021

Investments
	Holding	Value
		£
COIF Charities Ethical Investment Fund	108,777.18	340,429
COIF Global Equity Fund	129,750.60	370,866
COIF Charities Property Fund	285,520.69	360,898
		1,072,193
Summary:
The Movement in Market Value in the year was:
Market value at 1 January 2021		952,465
Disposals proceeds		(16,000)
Realised gain / (loss) during the year		(299)
Unrealised gain / (loss) during the year		136,027
Market value at 31 December 2021		1,072,193
Historical cost of these investments £606,143

EVA RECKITT TRUST FUND Notes to the Financial Statements (Cont’d) for the Year Ended 31 December 2021

6. Grants payable to institutions

Notes

(1) See further description in Appendix A
(2) Co-financed with Halcrow Foundation

Notes (1) See further description in Appendix A (2) Co-financed with Halcrow Foundation
Object A
Nil
Object B
Laptops for Warneford School (1)	£5,997
Laptops for Watchfield School (1)	£5,600
Computer Aid International	£750
Book Aid	£750
TEMWA	£500
Object C
Jubilee Debt Campaign	£1,000
Salt of the Earth	£1,000
Object D
Equality in Tourism (1) (2)	£3,000
Reaching the Unreached	£1,000
CLAAS	£1,000
Bhopal Medical Appeal	£1,000
See Beyond Borders	£1,000
Forward Africa Education Trust	£1,040
Peace Direct	£1,000
Prisoners of Conscience Appeal Fund	£1,000
Seed	£1,000
Food Blessed	£1,500
Helen Bamber Foundation (1)	£2,500

Carried Forward

£30,637

EVA RECKITT TRUST FUND Notes to the Financial Statements (Cont’d) for the Year Ended 31 December 2021

Grants payable to institutions (continued)

Grants payable to institutions (continued)
Brought Forward	£30,637
Object E
Medecins sans Frontiers (1)	£2,000
Object F
RNLI (for Bangladesh)	£750
Rise and Shine School	£1,500
Respite Association	£1,000
Healthy Living Project	£1,000
Water Harvest	£1,000
War on Want	£1,000
See Beyond Borders	£1,000
Mustard Tree	£1,000
The Matthew Trust	£750
Friends of Midnapore	£750
Project Harar	£750
Hands Up Foundation	£750
The Girl’s Network	£1,000
Sudden Productions	£1,000
York Women’s Counselling Service	£1,000
Anti Slavery	£1,000
Navjyoti	£1,000
Risha Education Centre (formally Rise and Shine School)	£1,000
The Music Works	£1,000
Home from Hospital Care	£1,000
Crisis	£1,000
The WSUP Charity (1)	£2,000
Total	£54,887

EVA RECKITT TRUST FUND Notes to the Financial Statements (Cont’d) for the Year Ended 31 December 2021

Movements in funds

Restricted funds Equality in Tourism Laptops for local schools D Holliday, Samos Volunteers Total restricted funds Unrestricted funds General funds Total funds*	At 1 January 2021 £ Income £ Expenditure £ Gains / losses £ Transfers between funds £ At 31 December 2021 £ 0 0 200 3,000 11,223 0 3,000 11,223 0 0 0 0 0 0 (200) 0 0 0
	200 14,223 14,223 0 (200) 0 952,622 33,809 42,369 135,728 200 1,079,990
	952,822 48,032 56,592 135,728 0 1,079,990

Purposes of restricted funds:

a. * The restricted funds for David Holliday/Samos Volunteers arise from a donation made to the ERT for this specific project and in 2022 this was moved to unrestricted with the permission of the donor.
b. The funds for Equality in Tourism were received from the Halcrow Foundation for this specific purpose.
c. For a description of the laptops for local schools see Appendix A.

Prior Period

Prior Period
Restricted funds Equality in Tourism D Holliday, Samos Volunteers Total restricted funds Unrestricted funds General funds Total funds	At 1 January 2020 £ Income £ Expenditure £ Gains / losses £ At 31 December 2020 £ 0 9,864 9,864 0 0 200 0 0 0 200
	200 9,864 9,864 0 200 919,158 34,220 55,766 55,010 952,622
	919,358 44,084 65,630 55,010 952,822

EVA RECKITT TRUST FUND

Notes to the Financial Statements (Cont’d) for the Year Ended 31 December 2021

8. Net assets between funds

Investments Current assets Current liabilities Net assets at 31 December 2021	Restricted funds £ Unrestricted funds £ Total funds £ 0 1,072,193 1,072,193 0 8,553 8,553 0 (756) (756)
	0 1,079,990 1,079,990

Prior period comparative:

Prior period comparative:
Investments Current assets Current liabilities Net assets at 31 December 2020 9. Financial instruments Financial assets measured at fair value	Restricted funds £ Unrestricted funds £ Total funds £ 0 952,465 952,465 200 877 1,077 0 (720) (720)
	200 952,622 952,822 2021 £ 2020 £ 1,072,193 952,465

Financial assets measured at fair value comprise CCLA investments.

APPENDIX A – DETAILS OF THE LARGER GRANTS MADE

1. Laptops for pupils at Local Schools (£11,597 object B)

At the start of Covid lock down in 2021 one of the ERT Trustees and a friend decided to raise funds from friends and family to buy computers for poorer pupils in schools local to them, in order to facilitate them learning whilst having to be at home instead of school. A total of £11,597 was raised including Gift Aid and a small donation from the ERT. A total of 38 second hand laptops were purchased and were refurbished before being provided to the pupils through two local schools.

2. Equality in Tourism (£3,000, object D)

The ERT contributed to Equality in Tourism’s Women Farmers Project in Tanzania which is helping small farmers develop their holdings and develop marketing links with the hotels nearby which serve the tourists visiting Mount Kilimanjaro. This year the Halcrow Foundation funded the ERT’s support to this Project.

3. Medecins sans Frontiers (£2,000, object E)

The ERT has continued to provide an annual unrestricted grant to Medecins sans Frontiers to assist them with their amazing work in areas devastated by war and natural disasters.

4. The WSUP Charity (£2,000, object F)

The WSUP Charity works with Water and Sanitation for the Urban Poor (WSUP) and others to provide water, sanitation and hygiene education to poorer areas of large cities in Africa and Asia. The ERT provided an unrestricted grant to help with central overheads.

5. The Helen Bamber Foundation (£2,500, object D)

The Helen Bamber Foundation works with refugees, particularly those affected by torture and provides them with legal and medical advice and assistance. The ERT continued its long term support to the Helem Bamber Foundation with a further grant intended to provide funds to enable the Foundation to provide small grants to their clients to be able to travel to the Foundation’s office.