**Charity number: 211848**
## **E S G ROBINSON CHARITABLE TRUST**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 5 APRIL 2023**
## **E S G ROBINSON CHARITABLE TRUST**
## **CONTENTS**
||Page|Page|
|---|---|---|
|**Reference and administrative details of the charity, its trustees and advisers**||1|
|**Trustees' report**|2|4|
|**Independent examiner's report**||5|
|**Statement of financial activities**||6|
|**Balance sheet**||7|
|**Notes to the financial statements**|8|- 15|
## **E S G ROBINSON CHARITABLE TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2023**
## **Trustees**
V Rock W Balston T Loewendahl M Heseltine (retired 25 November 2022) M Robinson C Robinson F Cox S Loewendahl (appointed 22 May 2022)
## **Charity registered number**
211848
## **Principal office**
11 Stockwell Park Road, London, SW9 0AP
## **Accountants**
Larking Gowen LLP, 1[st] Floor Prospect House, Rouen Road, Norwich, NR1 1RE
## **Investment managers**
Cazenove Capital, Schroder & Co Limited, 1 London Wall Place, London, EC2Y 5AU
## **E S G ROBINSON CHARITABLE TRUST**
The Trustees present their annual report together with the financial statements of E S G Robinson Charitable Trust (the charity) for the year ended 5 April 2023.
## **Objectives and Activities**
## **a. Policies and objectives**
The main objective for the year was to continue to distribute in grants and charitable payments a significant proportion of the income of the unrestricted fund that arose in the year. The Trustees achieved this by responding to applications for grants and requests for charitable payments.
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 setting the grant making policy for the year. By supporting charitable institutions and purposes, by way of grant making and one - off payments, the Trustees consider that they have ensured charitable benefit to the public further to the objects of the charity.
The Trustees review annually the risks that the charity faces. To date these mainly relate to investment management. The Trustees are also aware of risks associated with making grants. A policy of only awarding grants for charitable purposes reduces such risks.
The Trustees confirm that, in exercising their powers and duties, they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission.
## **b. Grant making policies**
The Trustees met twice in the year to April 2023 to consider the making of grants, both to new beneficiaries and in continuation of support to long-standing beneficiary organisations. Grants were considered in relation to the policy that the charity's funds are applied in the fields of numismatics, culture and the arts, the environment and sustainability, by way of making donations primarily to other registered charities whose work the Trustees had come across through their own research.
## **E S G ROBINSON CHARITABLE TRUST**
## **Achievements and performance**
## **a. Key financial performance indicators**
sustainable manner. The Trustees have approved grants and donations for a range of charitable purposes costs exceeded grants and donations made by £2,989 (2022: £32,543 surplus). Grants made are detailed in note 4 of the financial statements.
Multiulation Units, SEDOL BF78409. Accumulation Units do not distribute income arising on the underlying investments but instead accumulate the income in the fund.
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
## **b. Reserves policy**
The charity's funds (which are unrestricted) carried forward amounted to £778,499 (2022: £812,285). The ds in the year reflects primarily the losses on investment revaluations.
## **Structure, governance and management**
## **a. Constitution**
The Charitable Trust was established by Sir Edward Robinson on 10 August 1956. The E S G Robinson Charitable Trust is established for charitable purposes governed by the Trust Deed. The charitable Trust is registered as a charity by the Charity Commission for England & Wales, registered number 211848.
The Trustees' role is to hold the Trust funds upon trust and to apply the capital and income of the Trust for charitable purposes at their discretion.
## **b. Method of appointment or election of Trustees**
The Trust Deed does not specify the number of Trustees. New Trustees are identified and appointed by the existing Trustees. The Trustees are responsible for the induction of new Trustees and this includes awareness of Trustee responsibilities, the governing document, administrative procedures, the history and philosophical approach of the charity. There are seven Trustees and they have held office for: one for less than 1 year; three for between 4 and 5 years; two for between 8 and 9 years; and one for between 10 and 11 years.
**E S G ROBINSON CHARITABLE TRUST**
## **Plans for future periods**
## **a. Future developments**
The Trustees intend to continue providing grants and making charitable payments in a similar way to the recent past.
## **Trustees' responsibilities statement**
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP (FRS102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- 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 that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and 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 trust deed. They 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.
`27 October 2023` nd signed on their behalf by:
**M Robinson**
**V Rock**
## **E S G ROBINSON CHARITABLE TRUST**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2023**
## **Independent examiner's report to the Trustees of E S G Robinson Charitable Trust (the 'charity')**
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 5 April 2023.
## **Responsibilities and basis of report**
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity'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 2011 Act.
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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 (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. 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.
Signed:
Julie Grimmer FCA DChA
## **Larking Gowen LLP**
Chartered Accountants 1[st] Floor Prospect House Rouen Road Norwich NR1 1RE Date: `31 October 2023`
## **E S G ROBINSON CHARITABLE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023**
|**Unrestricted**
**funds**
**Note**
**2023**
**£**
**Income from:**
Donations and legacies
2
**5,280**
Investments
3
**36,954**
**Total income**
**42,234**
**Expenditure on:**
Raising funds
**1,759**
Charitable activities
**35,824**
Governance
**1,662**
**Total expenditure**
**39,245**
**Net income before investment gains**
**2,989**
Net losses on investments
8
**(36,775)**
**Net income before other recognised**
**gains and losses**
**(33,786)**
**Net movement in funds:**
**(33,786)**
**Reconciliation of funds:**
Total funds brought forward
812,285
**Total funds carried forward**
**778,499**|**Total**
**funds**
_Total_
_funds_
**2023**
**£**
_2022_
_£_
**5,280**
_5,849_
**36,954**
_65,646_
**42,234**
_71,495_
**1,759**
_6,343_
**35,824**
_31,139_
**1,662**
_1,470_
**39,245**
_38,952_
**2,989**
_32,543_
**(36,775)**
_7,188_
**(33,786)**
_37,731_
**(33,786)**
_39,731_
812,285
_772,554_
**778,499**
_812,285_|
|---|---|
## **E S G ROBINSON CHARITABLE TRUST**
## **BALANCE SHEET AS AT 5 APRIL 2023**
|**Note**
**£**
**Fixed assets**
Investments
8
**Current assets**
Cash at bank and in hand
**44,446**
Debtors
9
**-**
**Creditors:**amounts falling due within one
year
10
**(2,750)**
**Net current assets**
**Total assets less current liabilities**
**Creditors:**amounts falling due after more
than one year
**Net assets**
**Charity Funds**
Unrestricted funds
11
**Total funds**|**2023**
**£**
**736,803**
**41,696**
**778,499**
**0**
**778,499**
**778,499**
**778,499**|_2022_
_£_
_£_
_751,808_
_57,501_
_5,570_
_(2,594)_
_60,477_
_772,554_
_0_
_812,285_
_812,285_
_812,285_|
|---|---|---|
```
27 October 2023
```
**M Robinson V Rock**
The notes on pages 8 to 15 form part of these financial statements.
## **E S G ROBINSON CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023**
## **1. Accounting policies**
## **1.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) 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 (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
E S G Robinson Charitable Trust constitutes a public benefit entity as defined by FRS 102.
## **1.2 Income**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably.
## **1.3 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated to the applicable headings.
Costs of generating funds are costs incurred in managing investments and attracting voluntary income.
Charitable activities and Governance costs are costs incurred on the charity's educational operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
## **1.4 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discounts offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **E S G ROBINSON CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023**
## **1.5 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, using the closing quoted market price where quoted. Investment gains and losses, whether realised or Statement of financial activities.
Unquoted investments are valued by reference to any recent movement in shares and considered market value at the balance sheet date.
## **1.6 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
## **1.7 Cash at Bank and in hand**
Cash at bank and in hand includes cash and short term highly liquid investments with a maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **1.8 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **1.9 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **1.10 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
## **2. Income from donations and legacies**
|**Unrestricted**
**funds**
**Total**
**funds**
**2023**
**£**
**2023**
**£**
Gifts
**5,280**
**5,280**
_Total 2022_
_5,849_
_5,849_|_Total_
_funds_
_2022_
_£_
_5,849_|
|---|---|
|||
## **E S G ROBINSON CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023**
## **3. Investment income**
|**Unrestricted**
**funds**
**2023**
**£**
Dividends
**36,954**
_Total 2022_
_65,646_
**Grants paid**
**Donations awarded to Organisations:**
Ashmolean (Oxford University Chest - Heberden Coin Room)
British Museum
Musicability Community Interest Company
RCA Hughes Memorial Prize
Oshis World
Whiddon Autumn Festival
Pedal People
Readeasy Hackney
Bromley Symphony Orchestra
Friends of Pedal Power
Pimlico Toy Library
The Passage
Bristol Hospitality Network
Pimlico Music Foundation
Corbridge Chamber Orchestra
Horizons Plymouth
The Birch Collective CIC
Prisoners Education Trust
Lettering & Commemorative Arts Trust
Total donations of £1,000 and over
Others - under £1,000
Total|**Total**
**funds**
_Total funds_
**2023**
**£**
_2022_
_£_
**36,954**
_65,646_
_65,646_
**2023**
**£**
_2022_
_£_
**7,500**
_7,500_
**7,500**
_15,000_
**-**
_3,000_
**2,000**
_1,000_
**1,000**
_-_
**2,000**
_-_
**1,250**
_-_
**1,000**
_-_
**1,000**
_-_
**1,000**
_-_
**1,000**
_-_
**1,000**
_-_
**1,000**
_-_
**1,000**
_-_
**1,000**
_-_
**-**
_1,000_
**2,000**
_1,000_
**1,000**
_1,000_
**-**
_1,000_
**32,250**
_30,500_
**3,574**
_639_
**35,824**
31,139|
|---|---|
## **4. Grants paid**
## **E S G ROBINSON CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023**
## **5. Analysis of Expenditure by expenditure type**
|Expenditure on fundraising trading
Expenditure on investment management
**Costs of raising funds**
Grants and donations
**Charitable activities**
**Expenditure on governance**
_Total 2022_|**Costs**
**2023**
**£**
**136**
**1,623**
**1,759**
**35,824**
**35,824**
**1,662**
**39,245**
_38,952_|**Total**
**2023**
**£**
**136**
**1,623**
**1,759**
**35,824**
**35,824**
**1,662**
**39,245**
_38,952_|_Total_
_2022_
_£_
_-_
**6,343**
_6,343_
31,139
_37,482_
_1,470_
_38,952_
_38,952_|
|---|---|---|---|
|||||
## **6. Net income/(expenditure)**
During the year, no Trustees received any remuneration (2022 - £NIL). During the year, no Trustees received any benefits in kind (2022 - £NIL).
During the year, two Trustees have been reimbursed for expenses incurred on the charity's behalf of £136 (2022: £NIL) as authorised by Clause 4 of the Trust Deed of 10 August 1956.
## **7. Independent Examiners' remuneration**
The Independent Examiner's remuneration amounts to an Independent Examination fee of £1,662 (2022 £1,470).
## **E S G ROBINSON CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023**
## **8. Fixed asset investments**
||**Unlisted**|**Other**||
|---|---|---|---|
||**securities**|**investments**|**Total**|
||**£**|**£**|**£**|
|**Market value**||||
|At 6 April 2022|**206,841**|**544,967**|**751,808**|
|Additions||**10,983**||
|Accumulation units net of fees||**10,787**||
|Revaluations||**(36,775)**||
|At 5 April 2023|**206,841**|**529,962**|**736,803**|
The unquoted investment represents a holding of 15,960 shares (6.65%) in Geoffrey Faber Holdings Limited, a private company with fairly infrequent share sales. The Trustees obtained the valuation of the Geoffrey Faber Holdings Limited share valuation conducted 18 January 2022 showing the value of the shares to be £12.96 per share. There has been no formal valuation since this date. In approving the accounts the Trustees have considered the valuation as at 5 April 2023 and confirmed that this remains appropriate.
## **Investments at market value comprise:**
|**stments at market value comprise:**||||
|---|---|---|---|
|Unquoted
Quoted
Total market value||**2023**
**£**
**206,841**
**529,962**|_2022_
_£_
_206,841_
_544,967_
_751,808_|
|||**736,803**||
## **E S G ROBINSON CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023**
## **Material investments**
_Cazenove Charity Multi-_ to _Cazenove Charity NURS Fund Accumulation Units, SEDOL BF78409_ . As at April 2023 the quoted investments consisted of 684,527.51 units priced at £0.7742 per unit.
## **9. Debtors**
|**Debtors within one year**
Prepayments and accrued income
**Creditors: Amounts falling due within one year**
Secretarial expenses
Independent examiner's fee|**2023**
**£**
**-**
**-**
**2023**
**£**
**1,094**
**1,656**
**2,750**|_2022_
_£_
_5,570_
_5,570_
_2022_
_£_
_1,094_
_1,500_
_2,594_|
|---|---|---|
## **10. Creditors: Amounts falling due within one year**
## **E S G ROBINSON CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023**
## **11. Statement of funds**
||**Current year to**|**Prior year to 5**|
|---|---|---|
||**5 April 2023**|**April 2022**|
||**£**|**£**|
|**All General Funds**|||
|Balance at 6 April|**812,285**|772,554|
|Income|42,234|_71,495_|
|Expenditure|
(39,245)|_(38,952)_|
|(Losses) on investments|
(36,775)|_7,188_|
|Balance 5 April|
**778,499**|_812,285_|
## **12. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|**Unrestricted**
**funds**
**2023**
**£**
Fixed asset investments
**736,803**
Current assets
**44,446**
Creditors due within one year
**(2,750)**
**778,499**|**Total**
**funds**
**2023**
**£**
**736,803**
**44,446**
**(2,750)**
**778,499**|
|---|---|
## **E S G ROBINSON CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023**
## **Analysis of net assets between funds - prior year**
|Fixed asset investments
Current assets
Creditors due within one year|**Unrestricted**
**funds**
**2022**
**£**
_751,808_
_63,071_
_(2,594)_|**Unrestricted**
**funds**
**2022**
**£**
_751,808_
_63,071_
_(2,594)_|**Unrestricted**
**funds**
**2022**
**£**
_751,808_
_63,071_
_(2,594)_|
|**Total**
**funds**
**2022**
**£**
_751,808_
_63,071_
_(2,594)_
_812,285_|
|---|---|---|---|---|---|
|||||||
|||_812,285_||||
## **13. Related party transactions**
Donations totalling £5,280 (2022: £5,849) were made to the charity during the year by the brother of trustee V Rock. The outstanding balance as at April 2023 was £Nil (2022: £Nil).
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## **Signature 1**
Signed by Victoria Rock using authentication code b0VmWWRmVTM5XDdr at IP address 31.94.14.147, on 2023/10/27 11:24:00 Z.
Victoria Rock's e-mail address is: vrock@prideauxassoc.com.
## **Signature 2**
Signed by Matthew Robinson using authentication code TnQmbUZsKlIuMTJq at IP address 5.80.27.206, on 2023/10/27 11:25:11 Z.
Matthew Robinson's e-mail address is: matthew_rob@btinternet.com.