2022-04-05-accounts

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Charity registration number: 211941

Charlotte Marshall Charitable Trust

Annual Report and Financial Statements

for the Year Ended 5 April 2022

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: Manningtons : JT Straughan 7 Wellington Square Hastings East Sussex TN34 IPD

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Charlotte Marshall Charitable Trust

Contents

Reference and Administrative Details	I
Trustees’ Report	2to3
Statement ofTrustees' Responsibilities	4
Independent Examiner's Report	5
Statement ofFinancial Activities	6io7
Balance Sheet	8
NotestotheFinancialStatements	9to16

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Charlotte Marshall Charitable Trust

Reference and Administrative Details

Trustees

K B Page

JM Russell

J Cosgrave R Cosgrave

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Principal Office

Charity Registration Number

Solicitors

Bankers

Independent Examiner

Cfo Marshall-Tufflex Limited 55-65 Castleham Road Castleham industrial Estate St. Leonards on Sea TN38 9NU 211941

Barwells Independent Financial Management Services 6 Hyde Gardens Eastbourne BN21 4PN

Cater Allen 9 Nelson Street Bradford BD1 5AN

Manningtons JT Straughan 7 Wellington Square Hastings East Sussex TN34 IPD

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Charlotte Marshall Charitable Trust

Trustees' Report

The trustees present the annual report together with the financial statements of the charity for the year ended 5 April 2022.

Objectives and activities

Objects and aims

The Trust was formed to distribute funds earned on the capital of the Trust as to two thirds for educational religious or other charitable purposes for the Roman Catholics in the United Kingdom as the Trustees think just, with the balance of the income distributed for the charitable purposes in the United Kingdom all according to the Trustees discretion.

The initial endowment to be held until the termination of the Trust on the earlier of 4 September 2042 or 21 years after the death of the last survivor of the issue being at the date if the inception of the Trust of his late Majesty King George V or such earlier date set at the Trustees discretion after 4 September 1982.

These funds are to be distributed for the charitable purposes at the Trustees discretion on the termination date. The Trust invites applications from all charitable groups eligible under the objectives of the Trust, regardless of the background, gender or personal circumstances of the group and its members.

Public benefit

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 201! to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Financial review

Policy on reserves

The Trustees have agreed that £5,000 should be held in reserves in addition to the Endowment Funds to meet costs and special applications that are received.

Investinent policy and objectives

The Trustees have recognised that the majority of the investments held by the Trusts are in the Marshall-Tufflex Ltd Group of companies and, therefore, have taken some steps to give some diversification. Investments made recognise the need for income with capital growth but exposing the funds to limited risk.

Structure, governance and management

Nature ofgoverning document

The Trust was constituted under a Deed of Trust dated 5 September 1962 and is a charitable trust registered with the Charity Commission. The Trust is nanaged by a Board of Trustees whose details are shown on page | with the other administrative details. The power of appointment of new Trustees, rests with the survivors of the settlors.

Recruitinent and appointment of trustees

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Appointment of Trustees is made in accordance with the terms of the Trust Deed. Potential new Trustees are selected on the recommendation of current Trustees,

Induction and training of trustees

All current Trustees are familiar with the work of the Charity and in addition some have professional or lay knowledge of the operation of Trusts and Charities.

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Charlotte Marshall Charitable Trust

Trustees’ Report

Organisational structure

Grant applications complete a Trust Application Form with a formal request for funds which is considered by the Trustees at their first quarters meeting, Lists are prepared for payment of those grants approved and within the Trust's charitable objectives. The Trusts also meet later in the year, usually in the third quarter to consider management aspects of the Trust including considering advice received on the management of the Trust invested funds. Covid-19 has disrupted the ability for face to face Trustees meetings but has not disrupted the running of the meeting, Income has reduced as a direct consequence of Covid-19 and the Trust has therefore reduced its distributions accordingly.

The Trust's administrative activities were carried out from the premises of the Marshall-Tufflex Ltd group of companies by members of the Company's staff.

The annual report was approved by the trustees of the omy “ 6/22. and signed on its behalf by:

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K B Page
Trustee
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J Mi Ryissell
Trilsteb
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Charlotte Marshall Charitable Trust

Statement of Trustees’ Responsibilities

The trustees are responsible for preparing the trustees' report and the financial statements in accordance wilh the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accouating Practice) and applicable law and regulations,

The law applicable to charities 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;

• « make judgements and estimates that are reasonable and prudent,

• state whether applicable accounting standards have been followed, subject fo any material departures disclosed and explained in the financial statements; and

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• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping proper accounting records that 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 applicable Charities (Accounts and Reports) Regulations, 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 irregutarities.

Approved by the trustees of the charity on “if ol22. and signed on its behalf by:

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J ssell
Trustee
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Charlotte Marshall Charitable Trust

Independent Examiner's Report to the trustees of Charlotte Marshall Charitable Trust

I report to the charity trustees on my examination of the accounts of the charity for the year ended 5 April 2022 which are set out on pages 6 to 16.

Respective responsibilities of trustees and examiner

As the charity's trustees of Charlotte Marshall Charitable 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 Charlotte Marshall Charitable Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination T 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 fo believe that in any material respect:

• f. accounting records were not kept in respect of Charlotte Marshail Charitable 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 accounting 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.

feGuio d ©be concerhs draw in and havethis report comein orde ac r ossto noenable other matta prop er sunderstandingin connection wiof th e theaccounts examinationto be reached,to which atfention JT Straughan Manningtons

7 Wellington Square Hastings East Sussex TN34 1PD

pate: ote fers: [2092

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Charlotte Marshall Charitable Trust

Statement of Financial Activities for the Year Ended 5 April 2022

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				Total
		Unrestricted	Endowment	2022
	Note	£	£	£
Income and Endowments from:
Donations and legacies	2	45,821	-	45,821
Investinent income	3	35,932	-	35,932
Total Income		81,753	”	81,753
Expenditure on:
Charitable activities	4	(76,929)	-	(76,929)
Governance Costs		(4,676)	(1,636)	(6,312)
Total Expenditure		(81,605)	(1,636)	(83,241)
Net income/(expenditure)		148	(1,636)	(1,488)
Other recognised gains and lasses
Gains/losses on revaluation offixed assets for
charity's own use		:	11,383	14,583
Net movement in funds		148	9,947	10,095
Reconciliation offunds
Total funds brought forward		36,094	409,218	445,312
Totalfundscarriedforward	tl	36,242	419,165	455,407

The notes on pages 9 to 16 form an integral part of these financial statements. Page 6

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Charlotte Marshall Charitable Trust

Statement of Financial Activities for the Year Ended 5 April 2022

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		Unrestricted	Endowment	Total
		funds	funds	2021
	Note	£	£	£
Income and Endowments from:
Donations and legacies		33,750	“	33,750
Investment income	3	21,433	-	21,433
Total income		$5,183	-	$5,183
Expenditure on:
Charitable activities		(52,230)	s	(52,230)
Governance Costs		(4,518)	(1,417}	(5,935)
Total expenditure		(56,748)	(1,417)	(58,165)
Gains/losses on investment assets		-	48,134	48,134
Net (expenditure)/income		(1,565)	46,717	45,152
Net movement in funds		(1,565)	46,717	45,152
Reconciliation offunds
Tota! funds brought forward		37,659	362,501	400,160
Totalfundscarriedforward	li	36,094	409,218	445,312

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 202! is shown in note 11.

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The notes on pages 9 to 16 form an integral part of these financial statements. Page 7

Charlotte Marshall Charitable Trust

(Registration number: 211941) Balance Sheet as at 5 April 2022

				2022	2021
			Note	£	£
Fixed assets
Investments			7	447,236	439,672
Current assets
Debtors			8	180	94
Cash at bank and in hand			9	10,510	8,740
				10,690	8,834
Creditors: Amounts failing due within oneyear			10	(2,519)	(3,194)
Net current assets				8,171	5,640
Net assets				455,407	445,312
Funds of the charity:
Endowment funds				419,165	409,218
Unrestricted income funds
Unrestricted funds				36,242	36,094
Total funds			i]	455,407	445,312
The ,financial statements on pages 6 to 1/622andsignedontheirbehalfby:	16 were	approved by the irustees, and authorised )a			for issue on
K B Page		J	issell
Trustee		Trubter

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The notes on pages 9 to [6 form an integral part of these financial statements. Page 8

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Charlotte Marshall Charitable Trust

Notes to the Financial Statements for the Year Ended 5 April 2022

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1 Accounting policies

Statement of compliance

The financial statements have been prepared 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) (effective | January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

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Charlotte Marshall Charitable Trust 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 notes.

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin | published on 2 February 2016 and have therefore not inchided a cash flow statement in these financial statements.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Income and endowments

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Voluntary income inehiding donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

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Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.

Investment income

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.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably, All costs are allocated to the applicabie expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

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Charlotte Marshall Charitable Trust

Notes to the Financial Statements for the Year Ended 5 April 2022

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and these costs of an indirect nature necessary to support them,

Grant provisions

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable,

Taxation

The charity is considered to pass the tests set out in Paragraph | Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 1i of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent (hat such income or gains are applied exclusively to charitable purposes.

Fixed asset investments

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Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date, Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.

Unrealised pains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.

Trade debtors

Are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Are recognised initially at the transaction price.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value,

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of[its][liabilities.]

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Charlotte Marshall Charitable Trust

Notes to the Financial Statements for the Year Ended 5 April 2022

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability sinvultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers fo another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not ali, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

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Tavestnients

Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Investments in subsidiaries and associates are measured at cost less impairment, For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference fo the nominal! value of the shares issued plus fair value of other consideration. Any premium is ignored.

Fair vaiue measurement

The best evidence of fair value is a quoted price for an identical asset in an active market, When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

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2 Income from donations and legacies

		Unrestricted
		funds	Total
		General	funds
		£	£
Donations and legacies;
Donations from companies, trusts and similar proceeds		45,821	45,821
Total for2022		ee
Totalfor2021		33,750	33,750

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Charlotte Marshall Charitable Trust

Notes to the Financial Statements for the Year Ended 5 April 2022

3. Investment income

							Unrestricted
							funds	Total
							General	funds
							£	£
Income from dividends:
	Dividends receivable from other unlisted		investments				35,932	35,932
Total for2622							35,932	35,932
Total for2021							21,433	21,433
4	Expenditure on charitable	activities
					Unrestricted
		;	. ;		funds		Total	Total
					General	—	2022	2021
					£		£	£
Grant funding ofactivities		sO		;	76,929		76,929	§2,230
					Unrestricted
					funds		Tofal	Total
					General		2022	2621
					£		£	£
Roman Catholic Activity					51,286		$1,286	34,987
Non Roman Catholic Activity					25,643		25,643	17,243
					76,929		76,929	52,230

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Charlette Marshall Charitable Trust

Notes to the Financial Statements for the Year Ended 5 April 2022

5 Grant-making

Below are details of material grants made to institutions by the

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			2022
Nameofinstitution	Activity		£
Across	Roman Catholic Activity		2,900
Caritas Anchor House			1,500
Catholic Agency for Overseas
Development			3,310
Catholic Marriage Care Limited			951
CELEBRATE Trust			1,500
Growing Old Grace-Fully			2,680
Jesuit Refugee ServiceUK			1,900
NOAH Enterprise			2,000
OurLady ofthe Rosary			1,000
Passion Trust			2,500
Providence Row			3,600
Sacred Heart Primary School			3,500
St John's Hospice			2,850
St Gemma's Hospice			1,613
St Josephs Hospice Hackney			1,506
St Joseph's Specialist Trust			2,544
St Mary Star of the Sea Catholic				:
Primary School			2,500
St Raphael's Hospice			1,922
St Richard's Catholic College			3,116
St Wilfreds Cenire			1,500
The Dominican Council			1,000
The Hospice Charity Partnership			2,500
The Prison Advice& Care Trust			1,560
The Vincentian Volunteers Limited			1,000
Welcome To Our Future			1,600
4Sight Vision Support	Non Roman	Catholic Activity	500
Abby's Heros			565
Afghanistan & Central Asian
Association			565
Articulate Arts Lid			500
Asthma Relief			565
Bexhill Senior Citizen's Club			565
British Liver Trust			565
British Red Cross			565
Care for the Carers			565
Care forVeterans			565
Carousel Project			565
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Charlotte Marshall Charitable Trust

Notes to the Financial Statements for the Year Ended 5 April 2022

Charity ForKids	565
City Gate Community Projects	506
Community Advice Support Education
(CASE)	565
Compaid Trust	565
Dame Vera Lynn Children's Charity	565
De La Warr Pavilion	565
Demelza House Children’s Hospice	500
Disabled Sailors Association	565
ellenor	565
GuideDogs For The Blind Association	500
HappyDays Children's Charity	565
Independent ProviderofSpecial
Education Advice	565
Jigsaw (South-East)	495
KentMultiple Scierosis Therapy Centre	509
Kids Cancer Charity	565
Little Gate Supported Employment	565
Martha Trust	$65
NARA The Breathing Charity	565
OffThe Fence Trust	300
PoliceCommunity Clubs ofGreat
Britain	565
Railway Mission	500
Rainbow Trust Children's Charity	565
Rockinghorse Childrens Charity	565
SeeAbility	565	,
St Barnanas Hospices (Sussex) Ltd	565
St Catherine's Hospice	565
St John Ambulance	500
St Wilfred's Hospice S$ Coast	565
St Wilfred's Hespice (Eastbourne)	565
Team Domenica	565
The HeartofKent Hospice	363
TheJPK Sussex Project	450
The Martlets Hospice Limited	500
The Oliver Curd Trust	365
The Respite Association	565
Winston's Wish	500
	76,929

6 Taxation

The charity is a registered charity and is therefore exempt from taxation.

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Charlotte Marshall Charitable Trust

Notes to the Financial Statements for the Year Ended 5 April 2022

7 Fixed asset investments

		2022	2021
		£	£
Other	investments	447,236	439,672

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Other investments
		Listed	Unlisted
		investments	investments	Total
		£	£	£
Cost or Valuation
At 6 April 2021		183,525	256,147	439,672
Revaluation		9,351	-	9,351
Additions		5,893	-	5,893
Disposals		(7,680)	-	(7,680)
At § April 2022		191,089	256,147	447,236
Net book value	.
At 5 April 2022		191,089	256,147	447 236
At5April2021		183,525	256,147	439,672

The Unlisted Investments were valued on the 31 May 2018 by an independent valuer.

8 Debtors

		2022	2021
		£	£
Prepayments		180	o4
9	Cash and cash equivalents
		2022	2021
		£	£
Cash at bank		10,510	8,740
10	Creditors: amounts fallingdue within oneyear
		2022	2021
		£	£
Accruals		2,519	3,194

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Charlotte Marshall Charitable Trust

Notes to the Financial Statements for the Year Ended 5 April 2022

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{1 Funds

					Other
	Balance at 6	Incoming	Resources		recognised	Balance at 5
	April 2021	resources	expended	= gains/(losses)		=April 2022
	£	£	£		£	£
Unrestricted
General	36,094	81,753	(81,605)		-	36,242
Endowment
Expendable	409,218	-	(1,636)		11,583	419,165
Total funds	445,312	81,753	(83,241)		11,583	455,407
					Other
	Balance at 6	Incoming	Resources		recognised	Balanceat 5
.	April 2020	resources	expended	— gains/{losses)		=April 2021
	£	£	£		£	£
Unrestricted
General	37,659	$5,183	(56,748)		-	36,094
Endowment
Expendable	362,501	-	(1,417)		48,134	409,218
Total funds	400,160	55,183	(58,165)		48,134	445,312
12 Analysis of net funds
		At	6 April	Financing cash		At 5 April
			2021		flows	2022
			£		£	£
Cash at bank and in hand			8,740		1,770	16,510
Netdebt			8,740		1,770	16,510

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