2022-12-31-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 2022

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 2022.

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 49 grants made during 2022 is included on pages 18 and 19 and details of the 4 largest grants, which amount to 26% of the total grants given in 2022, 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 2022 show an increase of expenditure over income of £13,820. After allowing for realised and unrealised losses on investments of £137,413 funds have decreased by £151,233 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 whilst CCLA, our stockbrokers, have made a significant loss on our investments in 2022, since we only spend what we earn from our income and a small amount of sales of capital this does not constitute a risk to us as we have no long term commitments and are able to adjust our expenditure accordingly and hence we are well able to continue as a going concern. Moreover, at the time of preparing this report in September 2023, CCLA have started to make up last years losses and expect this to continue into 2023.

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 10[th] October 2023 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 2022, 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: 11[th] October 2023

EVA RECKITT TRUST FUND

Statement of Financial Activities for the Year Ended 31 December 2022

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	2022 Unrestricted Funds 2022 Restricted Funds 2022 Total Funds £ £ £ 34,096 0 34,096 0 5,150 5,150
	34,096 5,150 39,246
	47,916 5,150 53,066
	47,916 5,150 53,066
	(13,820) 0 (13,820) (466) 0 (466) (136,947) 0 (136,947)
	(151,233) 0 (151,233) 1,079,990 0 1,079,990
	928,757 0 928,757

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.

EVA RECKITT TRUST FUND

Statement of Financial Activities for the Year Ended 31 December 2021 (Prior Period)

2021 Unrestricted Funds £ 33,809 0	2021 Restricted Funds £ 0 14,223	2021 Total Funds £ 33,809 14,223
33,809	14,223	48,032
42,369	14,223	56,592
42,369	14,223	56,592
(8,560) (299) 136,027	(0) 0 0	(8,560) (299) 136,027
127,168 200 127,368 952,622	0 (200) (200) 200	127,168 0 127,168 952,822
1,079,990	0	1,079,990

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

EVA RECKITT TRUST FUND

Balance Sheet as at 31 December 2022 Notes 2022 £ £ FIXED ASSETS Investments 5 928,780 CURRENT ASSETS Cash at Bank: Current Account 584 COIF Charities Deposit 233 817 CURRENT LIABILITIES Creditors - amount falling due within 1 year: Accountancy and Examiner's Fees (840) (840) Net Current Assets / (Liabilities) (23) NET ASSETS 8 928,757 Represented by: Restricted Funds 0 Unrestricted Funds 928,757 TOTAL CHARITY FUNDS 928,757	2021 £ 8,320 233	£ 1,072,193 7,797
	8,553
	(756)
	(756)

		1,079,990
		0 1,079,990
		1,079,990

Approved by the Trustees on 10[th] October 2023 and signed on their behalf by

David Birch Manager and Trustee

EVA RECKITT TRUST FUND

Notes to the Financial Statements for the Year Ended 31 December 2022

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 whilst CCLA, our stockbrokers, have made a significant loss on our investments in 2022, since we only spend what we earn from our income and a small amount of sales of capital this does not constitute a risk to us as we have no long term commitments and are able to adjust our expenditure accordingly and hence we are well able to continue as a going concern. Moreover, at the time of preparing this report in September 2023, CCLA have started to make up last years losses and expect this to continue. 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.

EVA RECKITT TRUST FUND Notes to the Financial Statements (Cont’d) for the Year Ended 31 December 2022

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.

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.

EVA RECKITT TRUST FUND Notes to the Financial Statements (Cont’d) for the Year Ended 31 December 2022

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.

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 2022

2. Employees

The Trust has no employees.

During the year, 4 Trustees were paid fees totalling £400 (2021 £400, 4 Trustees) as permitted by the charity’s Trust Deed. The Trustees also received reimbursed expenses totalling £116 (2021 nil, 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 £ 2022 Total £ 51,100 0 51,100 0 0 279 516 279 516 0 840 840 0 331 331
	51,100 1,966 53,066 1,966 (1,966) 0
	53,066 0 53,066

Governance costs for the year were £1,966 (2021: £1,705).

EVA RECKITT TRUST FUND Notes to the Financial Statements (Cont’d) for the Year Ended 31 December 2022

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 £ 2021 Total £ 54,887 0 54,887 0 347 347 0 400 400 0 756 756 0 202 202
	54,887 1,705 56,592 1,705 (1,705) 0
	56,592 0 56,592

EVA RECKITT TRUST FUND Notes to the Financial Statements (Cont’d) for the Year Ended 31 December 2022

Investments
	Holding	Value
		£
COIF Charities Ethical Investment Fund	108,777.18	298,137
COIF Global Equity Fund	127,488.33	312,716
COIF Charities Property Fund	285,520.69	317,927
		928,780
Summary:
The Movement in Market Value in the year was:
Market value at 1 January 2022		1,072,193
Disposals proceeds		(6,000)
Realised gain / (loss) during the year		(466)
Unrealised gain / (loss) during the year		(136,947)
Market value at 31 December 2022		928,780
Historical cost of these investments £603,556

EVA RECKITT TRUST FUND Notes to the Financial Statements (Cont’d) for the Year Ended 31 December 2022

6. Grants payable to institutions

Notes

*See further description in Appendix A

Notes *See further description in Appendix A
Object A
Nil
Object B
Computer Aid	£750
TEMWA	£500
Object C
Salt of the Earth	£1,000
Gingerbread	£1,000
Object D
Equality in Tourism	£1,000
Friends without Borders	£1,000
Glenthorne Rest House	£1,000
CLAAS	£1,000
Children on the Edge	£1,000
Reaching the Unreached	£1,000
Peace Brigades International	£1,000
SEED*	£1,500
Music Action International	£1,000
Helen Bamber Foundation *	£2,500
Peace Direct	£1,000
Prisoners of Conscience	£1,000

Carried Forward

£17,250

EVA RECKITT TRUST FUND Notes to the Financial Statements (Cont’d) for the Year Ended 31 December 2022

Grants payable to institutions (continued)

Grants payable to institutions (continued)
Brought Forward	£17,250
Object E
Manchester Refugee Support Network	£1,000
Hands Up Foundation	£1,000
Rural Refugee Network	£1,000
Mission Without Borders	£1,000
Refugees, Birianis and Bananas	£500
Hackney Children and Baby Bank	£500
Object F
MAP Action	£1,000
RNLI (for Banladesh)	£750
Medical Aid for Palestinians	£1,000
Makhad	£1,000
Work Aid	£750
Risha Education Centre*	£2,000
The Respite Association	£1,000
Together We Learn Ethiopia	£500
Water Harvest	£1,000
Project Harar	£1,000
Portsmouth Food Bank	£500
Mustard Tree	£1,000
Avaaya Research Sri Lanka*	£2,125
Voice Sri Lanka*	£2,825
Friends Sri Lanka*	£ 700
Young Carers Development Trust	£1,000
See Beyond Borders	£1,000
Healthy Living Projects	£1,000
Sudden Productions	£1,000
Medecins Sans Frontieres*	£2,000
York Women’s Counselling Services	£1,000
Withenshaw Food Bank	£ 500
War on Want	£1,000
Bright Sparks School	£ 500
Precious Sisters	£ 700
Navjyoti	£1,000
Crisis	£1,000
Total	£51,100

EVA RECKITT TRUST FUND Notes to the Financial Statements (Cont’d) for the Year Ended 31 December 2022

7. Movements in funds

Restricted funds Sri Lankan Food Banks Total restricted funds Unrestricted funds General funds Total funds	At 1 January 2022 £ Income £ Expenditure £ Gains / losses £ At 31 December 2022 £ 0 5,150 5,150 0 0
	0 5,150 5,150 0 0 1,079,990 34,096 47,916 (137,413) 928,757
	1,079,990 39,246 53,066 (137,413) 928,757

For a description of Sri Lankan Food Banks, see Appendix A.

Prior Period

Prior Period
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

EVA RECKITT TRUST FUND Notes to the Financial Statements (Cont’d) for the Year Ended 31 December 2022

8. Net assets between funds

Investments Current assets , Current liabilities Net assets at 31 December 2022 Prior period comparative: Investments Current assets Current liabilities Net assets at 31 December 2021 9. Financial instruments Financial assets measured at fair value	Restricted funds £ Unrestricted funds £ Total funds £ 0 928,780 928,780 0 817 817 0 (840) (840)
	0 928,757 928,757 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 2022 £ 2021 £ 928,780 1,072,193

Financial assets measured at fair value comprise CCLA investments.

APPENDIX A – DETAILS OF THE LARGER GRANTS MADE

1. Food Banks in Sri Lanka (£6,150 object D and F)

Given the sudden collapse of the Si Lankan economy which reduced many there to having significant difficulty in buying and cooking food the Eva Reckitt Trust collected donations from friends and family to help by providing funds to several food banks as listed below. A total of £6,150 was donated to the food banks of which £4,150 was donated by friends and family, £1,000 was donated by the Halcrow Foundation and a further £1,000 came from Eva Reckitt Trust Funds.

Avaaya Research £2,125 (Object F) Voice Sri Lanka £2,825 (Object F) SEED £ 500 (Object D) Friends £ 700 (Object F)

A further £1,000 was donated to SEED (Object D) as a continuing our long term support to this school including for the disabled in rural Sri Lanka.

2. Risha Education Centre (£2,000, object F)

A further £2,000 was donated to this school on a poor area of Nairobi, Kenya as a continuation of the long term support that the Trust has provided to this school.

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

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 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.