THE AMELIA CHADWICK TRUST ANNUAL REPORT FOR THE YEAR ENDED 5[TH ] APRIL 2022
REGISTERED CHARITY NUMBER: 213795
THE AMELIA CHADWICK TRUST
TRUSTEES’ REPORT FOR THE YEAR ENDED 5[TH ] APRIL 2022
The Trustees present their annual report and financial statements of the charity for the year ended 5[th ] April 2022. The financial statements have been prepared in accordance with the charity’s trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) update bulletin 2 (effective 1[st ] January 2019).
The accounts have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
OBJECTIVES AND ACTIVITIES
The objects of the Trust are set out in clause 2 of the Settlement Deed which provides that the trustees are to apply the income (with power to apply capital) for the furtherance of such charitable bodies, charitable institutions or charitable purposes as the trustees shall in their absolute discretion think fit.
The Trust carries out these objects by providing grants to other registered charities and organisations providing benefit to the general public.
Grant making policy:
The Trust makes donations to charities dealing with education, health, the arts, social welfare, and the environment with a strong, but not exclusive, leaning towards local Merseyside charities. Grants are made only to charities known to the trustees and unsolicited applications are therefore not considered. No grants are made to private individuals.
Public benefit:
In planning the Trust’s grant making the trustees have given consideration to the Charity Commission guidance on public benefit.
ACHIEVEMENTS AND PERFORMANCE
Investments have been managed throughout the year by the Investment Managers, with performance being monitored by the trustees. The Trust has therefore been able to maintain its grant-making programme.
Grants were awarded to 66 (2021: 67) charities ranging from £500 to £10,000 (2021: £950 to £8,200).
FINANCIAL REVIEW
Income from investments totalled £175,572 (2021: £146,199) was received during the year. This funded grants of £149,300 (2021: £169,300) to charitable organisations. Capital investments were valued at £5,054,339 (2021: £4,851,823) at the year end.
Reserves policy:
The trust deed permits the spending of capital; the trustees have, however, agreed to retain the capital for the time being and to invest it to produce income to make grants. The trustees are managing the reserves to balance the needs of current and future beneficiaries. It is not
2
THE AMELIA CHADWICK TRUST
TRUSTEES’ REPORT FOR THE YEAR ENDED 5[TH ] APRIL 2022
anticipated that the needs of beneficiaries will diminish over time.
Investment policy and powers:
Investments are managed on the basis of a balanced investment objective between capital growth and income with a medium risk profile. However, the Charity is a long term investor and the trustees remain of the view that the mixed portfolio of equities, bonds, cash, and other investments, weighted according to the appetite for risk, remains appropriate. The trustees consider that this approach stabilizes resources available for grant making, thereby facilitating longer term grants and a more stable number of awards.
Risk management:
The main risks to which the charity is exposed as identified by the trustees have been considered and systems have been established to mitigate those risks. The trustees consider variability of investment returns on the Trust Investments to constitute the Charity’s major financial risk. Recent extreme volatility in World Stock Markets has demonstrated this risk.
Plans for the future
The objectives remain unchanged for the future; the intention is for continued investment management on a consistent basis and distribution of income to charitable organisations.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Amelia Chadwick Trust is a registered charity, number 213795 and is constituted under a Trust Deed dated 17[th ] October 1960. It was established by an initial gift from Henry Percy Bibby in 1960 and by a further three supplemental gifts.
Organisation, management and delegation
At regular meetings, the trustees agree the broad strategy and areas of activity for the trust, including consideration of grant making, investments, reserves and risk management policies. However, the day to day administration of grants and the processing and handling of applications prior to consideration is delegated to its corporate trustee, Liverpool Charity and Voluntary Services. The trustees do not themselves engage in charitable activities other than the making of charitable donations. The Trust does not actively fundraise and the Trust’s work is entirely reliant on income returns from its investments. It seeks to continue the charitable work desired by the donor through the careful stewardship of its existing resources.
Governance of the charity continued during the ongoing Covid-19 pandemic by periodic virtual meetings of the trustees as and when required.
Key management are considered to be the board of trustees. No remuneration is paid to any trustee, with the exception of the corporate trustee, Liverpool Charity and Voluntary Services who receive a fee for services provided. Further details of this are set out in note 13.
Recruitment and appointment of new trustees:
The statutory power of appointing new trustees applies to the Trust Deed. The power of recruiting and appointing new trustees is vested with the existing trustees.
REFERENCE AND ADMINISTRATIVE DETAILS
Principal office:
151 Dale Street, Liverpool L2 2AH
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THE AMELIA CHADWICK TRUST
TRUSTEES’ REPORT FOR THE YEAR ENDED 5[TH ] APRIL 2022
Trustees:
Mr M. H. Dawson Mr A. Behrend Ms A. Turner (appointed 2[nd ] December 2021)
Liverpool Charity and Voluntary Services
Liverpool Charity and Voluntary Services (LCVS), the corporate trustee, is incorporated under the Companies Act as a company limited by guarantee without share capital as company number 181759, a registered charity, number 223485, and a charitable Trust Corporation. LCVS trustees, who are also its Directors, were as follows during the year: Dorcas Akeju, Sonia Bassey MBE, Maxine Ennis, Kenneth Perry, John Price, Michael Salla, Louise Scholes, Gemma Shone (appointed 20[th ] September 2022), James Sloan, Neil John Sturmey, Henry Terefenko (resigned 27[th] July 2022), Michael Thomas and Susan Williams (resigned 23[rd ] June 2022).
Professional advisers:
Independent examiner Tony Stanley ACA BWM Chartered Accountants Suite 5.1, 12 Tithebarn Street, Liverpool, L2 2DT Investment managers Tilney Investment Management, Royal Liver Building, Pier Head, Liverpool, L3 1NY
Trustees’ Responsibilities
The Trustees are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Trustees to prepare accounts 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 year.
In preparing these accounts, 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 to any material departures disclosed and explained in the accounts; and
-
prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
4
THE AMELIA CHADWICK TRUST
TRUSTEES’ REPORT FOR THE YEAR ENDED 5[TH ] APRIL 2022
The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts 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.
Approved by the trustees and signed on their behalf by
Mike Thomas – LCVS Trustee On behalf of LCVS Dated: 3[rd ] February 2023
5
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF
THE AMELIA CHADWICK TRUST
I report to the trustees on my examination of the accounts of The Amelia Chadwick Trust for the year ended 5[th ] April 2022.
This report is made solely to the charity's trustees, as a body, in accordance with Section 145 of the Charities Act 2011. My examination has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an Independent Examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my examination, for this report, or for the opinions I have formed.
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 Act’).
I report in respect of my examination of the Trust’s accounts as 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 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 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.
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.
Tony Stanley ACA
BWM Chartered accountants Suite 5.1 12 Tithebarn Street Liverpool L2 2DT
Dated:
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THE AMELIA CHADWICK TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5[TH ] APRIL 2022
| Year to 5th | April 2022 | Year to | ||
|---|---|---|---|---|
| Unrestricted | Total |
5thApril 2021 | ||
| Funds | Funds | Total | ||
| Notes | £ | £ | £ | |
| Income from: | ||||
| Investments | 3 | 175,572 | 175,572 | 146,199 |
| Total income | 175,572 | 175,572 | 146,199 | |
| Expenditure on: | ||||
| Raising funds | 4 | 11,445 | 11,445 | 10,233 |
| Charitable activities | 5 | 159,240 | 159,240 | 181,168 |
| Total expenditure | 170,685 | 170,685 | 191,401 | |
| Net income/(expenditure) and net | ||||
| movement in funds before gains on | 4,887 | 4,887 | (45,202) | |
| investments | ||||
| Net gains on investment | 6 | 286,688 | 286,688 | 1,003,974 |
| Net movement in funds | 291,575 | 291,575 | 958,772 | |
| Reconciliation of funds: | ||||
| Total funds brought forward | 5,077,767 | 5,077,767 | 4,118,995 | |
| Total unrestricted funds carried forward | 11,12 | 5,369,342 | 5,369,342 | 5,077,767 |
| ======== | ======== | ======== |
The notes on pages 9 to 16 form part of these accounts.
The net movement in the funds in the year is derived from the continuing activity of the charity. All of the charity’s funds are unrestricted for years ended 5[th ] April 2022 and 5[th ] April 2021.
These unaudited financial statements have been subjected to independent examination. See report on page 6.
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THE AMELIA CHADWICK TRUST
BALANCE SHEET AS AT 5[TH ] APRIL 2022
| Notes Fixed assets Investments 6 Current assets Debtors 7 Cash at bank and in hand 8 Current liabilities Creditors 9 Net assets The funds of the charity: Unrestricted Funds 11,12 |
At 5thApril £ 1,124 317,457 |
At 5thApril £ 1,124 317,457 |
2022 £ 5,054,339 |
At 5thApril £ 1,093 227,469 |
2021 £ 4,851,823 225,944 5,077,767 ======== £ 5,077,767 5,077,767 ======== |
|---|---|---|---|---|---|
| 318,581 (3,578 |
) |
315,003 5,369,342 ======== £ 5,369,342 |
228,562 (2,618) |
225,944 | |
| 5,077,767 ======== £ 5,077,767 |
|||||
| 5,369,342 ======== |
Approved and authorised for issue by the Trustees and signed on their behalf by
Mike Thomas – LCVS Trustee On behalf of LCVS Dated: 3[rd ] February 2023
These unaudited financial statements have been subjected to independent examination. See report on page 6.
8
THE AMELIA CHADWICK TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5[TH ] APRIL 2022
1. ACCOUNTING POLICIES
Basis of accounting
The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (SORP 2015) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) update bulletin 2 (effective 1[st ] January 2019) and Charities Act 2011.
The trust constitutes a public benefit entity as defined by FRS 102.
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The Charity has taken advantage of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
Going concern
The charity makes grants based on the income received in the previous year and so, at the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the accounts.
Investments
In accordance with Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2015), investments held as fixed assets are stated at fair value. Realised and unrealised gains and losses are dealt with as movements on the Capital Fund. Investments are valued at the mid-market price on the valuation date.
Fund accounting
Restricted funds are subject to specific restrictive conditions imposed by the donor. All restricted funds are accounted for as restricted income and expenditure for the purposes is charged to the fund.
Unrestricted funds are considered ‘free’ reserves and are available for use or retention at the discretion of the Trustees, in accordance with the charity’s objectives. Free reserves are undesignated funds available for the furtherance of the general objectives of the charity.
Income recognition
Income from investments comprises dividend income and interest and are accounted for when received in the financial year.
Expenditure recognition
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses, including support costs
These unaudited financial statements have been subjected to independent examination. See report on page 6.
9
THE AMELIA CHADWICK TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5[TH ] APRIL 2022 (CONTINUED)
and governance costs, are allocated or apportioned to the applicable expenditure headings in the statement of financial activities.
Raising funds costs relate to expenses incurred in the management of the investment assets. Charitable activities includes grant funding, along with associated support costs, to beneficiaries. These are dealt with in the Statement of Financial Activities when payment has been approved by the charity. Governance costs relate to compliance with constitutional and statutory requirements and specifically include all costs incurred by the charity in producing the Annual Report.
Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
Taxation
The charity benefits from various exemptions from taxation afforded by tax legislation and is not liable to corporation tax on income or gains falling within those exemptions. Partial recovery is made of tax credits on UK dividend income. The charity is not able to recover Value Added Tax. Expenditure is recorded in the accounts inclusive of VAT.
These unaudited financial statements have been subjected to independent examination. See report on page 6.
10
THE AMELIA CHADWICK TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5[TH ] APRIL 2022 (CONTINUED)
2. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3. INCOME FROM:
| INCOME FROM: | |||
|---|---|---|---|
| Total | Total | ||
| Unrestricted | Unrestricted | Unrestricted | |
| Funds | 2022 | 2021 | |
| £ | £ | £ | |
| Investments | |||
| Income arising from stocks & shares | 175,572 | 175,572 | 146,199 |
| ======= | ======= | ======= | |
| In 2021 all income was unrestricted. | |||
| EXPENDITURE ON: RAISING FUNDS | |||
| Total | Total | ||
| Unrestricted | Unrestricted | Unrestricted | |
| Funds | 2022 | 2021 | |
| £ | £ | £ | |
| Investment management fees | 11,445 | 11,445 | 10,233 |
| ======= | ======= | ====== |
4. EXPENDITURE ON: RAISING FUNDS
In 2021 all expenditure was unrestricted.
These unaudited financial statements have been subjected to independent examination. See report on page 6.
11
THE AMELIA CHADWICK TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5[TH ] APRIL 2022 (CONTINUED)
5. EXPENDITURE ON: CHARITABLE ACTIVITIES
| Total | Total | ||
|---|---|---|---|
| Unrestricted | Unrestricted | Unrestricted | |
| Funds | 2022 | 2021 | |
| £ | £ | £ | |
| Direct charitable activities: | |||
| Grant funding | 149,300 | 149,300 | 169,300 |
| Grant making administration costs- LCVS | 7,250 | 7,250 | 9,250 |
| ------------ | |||
| 156,550 | 156,550 | 178,550 | |
| ------------ | |||
| Support and governance costs: | |||
| Accounts preparation – LCVS | 500 | 500 | 500 |
| Administration - LCVS | 750 | 750 | 750 |
| Examination fee | 1,440 | 1,440 | 1,368 |
| ------------ | |||
| 2,690 | 2,690 | 2,618 | |
| 159,240 | 159,240 | 181,168 | |
| ======= | ======= | ======= |
Except for the Corporate Trustee, LCVS, trustees are not remunerated for their services. No expenses were reimbursed to trustees during the year (2021: None).
In 2021 all expenditure was unrestricted.
The following grants were made during the year:
| Grants to organisations of £1,000 and over | £ |
|---|---|
| Age Concern Liverpool | 1,450 |
| Age UK | 2,500 |
| Alzheimer’s Research UK | 4,000 |
| Alzheimer’s Society | 3,000 |
| Asylum Link Merseyside | 1,000 |
| Autism Together | 1,000 |
| Birkenhead YMCA | 1,450 |
| Birkenhead Youth Club | 1,000 |
| British Red Cross | 6,200 |
| Centre Point | 2,000 |
| Claire House | 2,700 |
| Coram Beanstalk | 2,000 |
| CPRE | 2,000 |
| Croxteth Gems Community Assocaition | 2,000 |
| Farms for City Children | 2,000 |
| Fortune Centre | 1,000 |
| Involve North West | 3,000 |
| Kids’ Cookery School | 2,000 |
| 40,300 |
These unaudited financial statements have been subjected to independent examination. See report on page 6.
12
THE AMELIA CHADWICK TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5[TH ] APRIL 2022 (CONTINUED)
| Grants continued…….. KIND L’Arche Liverpool Charity and Voluntary Services (LCVS) Liverpool Community Advice Liverpool Dyslexia Association Liverpool Homeless Football Club MAP UK Medicins Sans Frontieres Medical Aid for Palestinians Merseyside Holiday Service Merseyside Youth Association Micah Liverpool Neston Nomad Football Club North Liverpool Foodbank Opening Doors Project Oxfam Oxfordshire Dyslexsia Association Personal Support Unit Liverpool Prisoners’ Education Trust Prostate Cancer Research Centre PSS Royal Liverpool Philharmonic Society Salvation Army Samaritans Liverpool and Merseyside Shrewsbury House South Liverpool Food Bank St John’s Hospice Wirral St John & St Elizabeth Charity Sue Ryder Home The Urology Foundation The Whitechapel Centre Trussell Trust Unicef West Everton Community Council Wirral Brook Advisory Centre Wirral Churches’ Ark Project Wirral Citizens’ Advice Bureau Wirral Foodbank Wirral Mencap Wirral Women and Children’s Aid Wirral Youth Zone World Animal Protection YMCA Liverpool Young Persons Advisory Service |
£ 40,300 2,000 5,700 7,400 3,000 3,000 1,000 1,000 3,000 2,000 6,000 1,000 3,000 1,200 3,000 2,000 1,200 2,000 2,000 2,000 1,200 1,950 2,900 1,450 1,000 1,450 3,000 1,450 1,500 2,000 1,200 3,000 3,000 10,000 1,000 3,000 3,000 3,000 3,000 1,000 1,450 1,000 2,000 1,000 1,000 147,350 |
|---|---|
These unaudited financial statements have been subjected to independent examination. See report on page 6.
13
THE AMELIA CHADWICK TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5[TH ] APRIL 2022 (CONTINUED)
| £ | ||
|---|---|---|
| Grants continued…….. | 147,350 | |
| Other grants | 1,950 | |
| 149,300 | ||
| ====== | ||
| 6. FIXED ASSET INVESTMENTS |
||
| 2022 | 2021 | |
| £ | £ | |
| Quoted Investments: | ||
| Fair value at 6thApril | 4,851,823 | 3,788,622 |
| Disposal proceeds | (564,397) | (276) |
| Acquisitions at cost | 480,225 | 59,503 |
| Realised gains on investment assets | 309,963 | 1,669 |
| Unrealised (losses)/gains on investment assets | (23,275) | 1,002,305 |
| Market value at 5thApril | 5,054,339 | 4,851,823 |
| ======== | ======== | |
| Book value at 5thApril | 2,893,484 | 2,667,693 |
| ======== | ======== |
Fixed asset investments are managed by Tilney Investment Management and are held in custodianship, in an account designated for clients, registered in the name of nominee company Pershing Securities Limited.
7. DEBTORS
8.
| DEBTORS | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Income tax recoverable | 397 | 397 |
| Accrued income | 727 | 696 |
| 1,124 | 1,093 | |
| ===== | ===== | |
| CASH AT BANK AND IN HAND | ||
| 2022 | 2021 | |
| £ | £ | |
| Tilney – capital | 101,913 | 19,396 |
| Tilney – income | 9,264 | 7,925 |
| LCVS | 206,280 | 200,148 |
| 317,457 | 227,469 | |
| ======= | ======= |
These unaudited financial statements have been subjected to independent examination. See report on page 6.
14
THE AMELIA CHADWICK TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5[TH ] APRIL 2022 (CONTINUED)
| 9. CREDITORS Accounts preparation and administration – LCVS Independent examination fee 10. FINANCIAL INSTRUMENTS Carrying amount of financial assets: Debt instruments measured at cost Equity instruments measured at fair value through income and expenditure Carrying amount of financial liabilities: Measured at cost 11. ANALYSIS OF NET ASSETS BETWEEN FUNDS Fixed Asset Current Investments Assets £ £ Unrestricted Funds: Capital Fund 5,054,339 101,913 Income Fund - 216,668 5,054,339 318,581 ======== ======== 2021 Fixed Asset Current Investments Assets £ £ Unrestricted Funds: Capital Fund 4,851,823 19,396 Income Fund - 209,166 4,851,823 228,562 ======== ======== |
9. CREDITORS Accounts preparation and administration – LCVS Independent examination fee 10. FINANCIAL INSTRUMENTS Carrying amount of financial assets: Debt instruments measured at cost Equity instruments measured at fair value through income and expenditure Carrying amount of financial liabilities: Measured at cost 11. ANALYSIS OF NET ASSETS BETWEEN FUNDS Fixed Asset Current Investments Assets £ £ Unrestricted Funds: Capital Fund 5,054,339 101,913 Income Fund - 216,668 5,054,339 318,581 ======== ======== 2021 Fixed Asset Current Investments Assets £ £ Unrestricted Funds: Capital Fund 4,851,823 19,396 Income Fund - 209,166 4,851,823 228,562 ======== ======== |
9. CREDITORS Accounts preparation and administration – LCVS Independent examination fee 10. FINANCIAL INSTRUMENTS Carrying amount of financial assets: Debt instruments measured at cost Equity instruments measured at fair value through income and expenditure Carrying amount of financial liabilities: Measured at cost 11. ANALYSIS OF NET ASSETS BETWEEN FUNDS Fixed Asset Current Investments Assets £ £ Unrestricted Funds: Capital Fund 5,054,339 101,913 Income Fund - 216,668 5,054,339 318,581 ======== ======== 2021 Fixed Asset Current Investments Assets £ £ Unrestricted Funds: Capital Fund 4,851,823 19,396 Income Fund - 209,166 4,851,823 228,562 ======== ======== |
2022 £ 1,250 2,328 |
2021 £ 1,250 1,368 2,618 ===== 2021 £ 228,562 4,851,823 2,618 Total 2022 £ 5,156,252 213,090 5,369,342 ======== Total 2021 £ 4,871,219 206,548 5,077,767 ======== |
|---|---|---|---|---|
| ugh DS Current Assets £ 101,913 216,668 |
3,578 ===== 2022 £ 318,581 5,054,339 3,578 Current Liabilities £ (-) (3,578) |
2,618 ===== 2021 £ 228,562 4,851,823 2,618 Total 2022 £ 5,156,252 213,090 |
||
| 318,581 ======== Current Assets £ 19,396 209,166 228,562 ======== |
(3,578) ====== Current Liabilities £ (-) (2,618) (2,618) ====== |
These unaudited financial statements have been subjected to independent examination. See report on page 6.
15
THE AMELIA CHADWICK TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5[TH ] APRIL 2022 (CONTINUED)
12. UNRESTRICTED FUNDS
Capital Fund: Funds held to provide income for the ongoing activities of the trust.
Income Fund: Investment income received for distribution as grants to charitable voluntary organisations.
2022
| Resources at beginning of year £ Capital Fund 4,871,219 Income Fund 206,548 5,077,767 ======== |
Surplus/ Net gains on Resources (Deficit) investment at end for year assets of year £ £ £ (-) 286,688 5,157,907 4,887 - 211,435 4,887 286,688 5,369,342 ======= ======== ======== |
|---|---|
There were no restricted funds received during the year or held at the year end (2021: None)
2021
| Resources at beginning of year £ Capital Fund 3,867,245 Income Fund 251,750 4,118,995 ======== |
Surplus/ Net losses on Resources (Deficit) investment at end for year assets of year £ £ £ (-) 1,003,974 4,871,219 (45,202) - 206,548 (45,202) 1,003,974 5,077,767 ======= ======== ======== |
|---|---|
13. RELATED PARTY TRANSACTIONS
Charitable Activities: these include
-
grants totalling £7,400 (2021 : £1,200) to LCVS in support of the work it carries out and £7,250 (2021: £9,250) grant making administration costs payable to LCVS.
-
Support and governance Costs: these include £1,250 (2021: £1,250) payable to LCVS in respect of accountancy and trust administration.
Creditors: these include £1,250 (2021: £1,250) owing to LCVS at the year end.
LCVS is related to the Trust by virtue of being the corporate trustee.
Other than those disclosed above, there were no further transactions with any related parties during the year.
These unaudited financial statements have been subjected to independent examination. See report on page 6.
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