THE AMELIA CHADWICK TRUST UNAUDITED ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2023 CHARITY NUMBER- 213795
THE AMELIA CHADWICK TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 5TH APRIL 2023 The Trustees present their annual report and financial statements of the charity for the year ended 5th April 2023. The financial statements have been prepared in accordan with the accounling policies set out in note 1 to the financial statements and comply with the charity's trust deed, Ihe 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 IFRS 102) {effective 151 January 2019). OBJECTIVES AND ACTIVITIES The objects of the Trusl are set out in clause 2 of the Seltlement 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 oul these objects by pioviding 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 Ihe Trust's grant making the trustees have given consideralion to the Charity Commission guidance on public benefit. Achievements and Performance Investments have been managed Ihroughout the year by the Investment Managers, with performance being monitored by the trLSStees. The Trust has therefore been able to maintsin tts grant-making programme. Grants were awarded to 7512022: 66) charities ranging from £500 to £6,200 {2022'. £500 to £10,000}. Financial Review Income from investments totalled £197,320 {2022.' £175,572) was received during the year. This funded grants of £168,900 {2022.' £149,300) to charitable organisations. Capital inveslmenls were valued at £4,926,05412022.' £5,054,339) at the year end. 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.
THE AMELIA CHADWICK TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 5TH APRIL 2023 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 Ihe Trust Investments to constitute the Charity's major financial risk. Recent extreme volatility in World Stock Markets has demonstrated this risk. Reserves Policy The trust deed permits the spending of capit81', 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 currenl and future beneficiaries. It is not anticipated that the needs of beneficiaries will diminish over time. 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 organisalions. Structure, Governance and Management The Amelia Chadwick Trust is a registered charily, number 213795 and is constituted under a Trust Deed dated 17th October 1960. It was established by an initial gift from Henry Percy Bibby in 1960 and by a further three suppletnental 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 managemenl 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. 11 seeks to continue the charitable work desired by the donor through the careful stewardship of its existing resources. Key management are considered to be the board oftrustees. No remuneration is paid to any tiustee, 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 12. 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 Ihe existing trustees.
THE AMELIA CHADWICK TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 5TH APRIL 2023 REFERENCE AND ADMINISTRATIVE DETAILS The Amelia Chadwick Trust Name Charity number Principal Office 213795 LCVS 151 Dale Street Liverpool L2 2AH During the year under review, the trustees were as follow A Behrend M Dawson AJ Turner Liverpool Charity and Voluntary Services (LCVS), a corporate trustee, which 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. Sonia Bassey MBE Mike Thomas Trustees LCVS Chair LCVS Treasurer Dorcas Akeju Sonia Bassey MBE Maxine Ennis Ken Perry John Price Michael Salla Louise Scholes Gemma Shone James Sloan Neil John Sturmey Henry Terefenko Mike Thomas Sue Williams (Appointed 201h September 2022) (Resigned 27th July 2022} (Resigned 23rd JLsne 2022) (Resigned 28th February 20231 (Appointed 281h February 2023) (Resigned 9th May 2023) (Appointed 9th May 20231 Secretary Graham Wright Clare White Helen Rotheram Accountants LCVS 151 Dale Street Liverpool L2 2AH
THE AMELIA CHADWICK TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 5TH APRIL 2023 Independent Examiner Tony Stanley ACA BWM Chartered Accountants Tempest SUte 5.1 12 Tilhebarn Street Liverpool L2 2DT Investment Manager Evelyn Partners Royal Liver Building, Pier Head, Liverpool, L3 1 NY TRUSTEES, RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The charity trustees are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi). The law applicable to charities in England and Vvales requires the charity trustees lo prepare financial statements for each year which give a true and fail view of the state of affairs of the charity and of the incoming resources and application of reSoUrs, of the charity for that period. In preparing the 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 estimates that are reasonable and prudent., state whether applicable accounting standards have been followed, subject to any material departures that must be 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 business. The trustees are responsible for keeping proper accounting records that disclose wilh reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities {Accounts and Reports) RegLJlations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. Signed on be of the Trustee, Liverpool Charity and Voluntary Services. Mike Thomas- LCVS Trustee 2& Date
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE AMELIA CHADWICK TRUST I report lo the Iruslees on my examination of the accounts of The Amelia Chadwick Trusl for the year ended 51h April 2023. This report is made solely to the charity's Iruslees, as a body, in accordance with Section 145 of the Charities Act 2011. My exarllinalion has been undertaken so that I might stale to the charity's trustees those mallers l am required lo state to them in an Independenl Examiner's report and for no other purpose. To the fullest exlenl 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 charity trustees 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 charity's accounts as carried out under section 145 of the 2011 Act and in carrying out my examinaliDn I have followed all the applicable Directions given by the Charity Commission under section 145151(bl of the Act. Independent examiner'5 Statement Your attention is drawn to the fact that the charity has prepared accounts in accordance with Accounting and Reporting by Charities preparing their accounls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} in preferen lo the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations bul has now been withdrawn. l understand that this has been done in order for the accounts to provide a true and fair view in accordance with Generally Accepted Accounting Practice effeGtive 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.. accounting records were not kept in respect of the charity as required by section 130 of the 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 sel oul in the Charities (Accounts and Reports} ReguSations 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 lo be reached. Tony Stanley ACA BWM Chartered Accountants Tempest, Suite 5.1 12 Tithebarn Street Liverpool L2 2DT
THE AMELIA CHADWICK TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5TH APRIL 2023 Total Unrestricted Funds 2023 Total Unrestricted Funds 2022 Income from: Investments Notes 197,320 175,572 Total income 197,320 175,572 Expenditure on: Raising funds Charitable activities 11,175 181,390 11,445 159,240 Total expendlture 192,565 170,685 Net Income 4,755 4,887 Net Ilosses)Igain on investments {128,145} 286,688 Net movement in funds {123,390) 291,575 Reconciliatlon of funds." Total funds brought forward 5,369,342 5,077,767 Total funds carried forward 10,11 5,245,952 5,369,342 The notes on pages 9 10 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 5th April 2023 and 5th April 2022.
THE AMELIA CHADWICK TRUST BALANCE SHEET AS AT 5TH APRIL 2023 5th April 2023 5th April 2022 Fixed assets Investments Notes 4,926,054 5,054,339 Current assets Debtors Bank & Cash balances 1,124 322,844 1,124 317,457 323,968 318,581 Current liabilities Creditors (4,070) (3,578) Net current assets 319,898 315,003 Net assets 5,245,952 5,369,342 The funds of the charity: Unrestricted funds 10,11 5,245,952 5,369,342 5,245,952 5,369,342 Approved and aut ised for issue by the Trustees and signod on their behalf by Mike Thomas- LCVS Trustee On behalf of LCVS Dated:
THE AMELIA CHADWICK TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2023 1. ACCOUNTING POLICIES Basis of Accounting The financial statements have been prepared in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their a¢counts in accordan with the Financial Reporting Standard applicable in the UK and RepLJblic of Ireland {FRS1021 {SORP 2019) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS102) {effective 1s1 January 2019) and the Charities Act 2011. The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notels} to these accounts. The trust constitutes a publi¢ benefit entily as defined by FRS 102. The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounls in these financial statements are rounded to the nearest £. The Charity has taken advantage ot the provisions in the SORP for Chartties applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. Going concern At the time of approving the accounts, the trustee has reasonable expectation that the charity has adequate reserves to Continue in operational existence for the foreseeable future. Thus the trustee continues to adopt the going concern basis of accounting in preparing the accounts. Investments Inveslments held as fixed assets, in accordance with SORP 2015, are stated and included in the balance sheet at their market value at the year end or at the valuation date nearest to the year end. UK listed securities and foreign securities quoted on a recognised stock exchange are stated at markel values ruling at the year end. Inveslments denominated in foreign currencies are translated using the sterling rate of exchange ruling at the year end. Unit Trust and managed fund investments are stated at the average of the bid and offer prices quoted by the Trust's managers nearest to the year end. The Statement of Financial Activities includes unrealised gains and losses arising from the revaluation of the investment portfolio. The trustees consider that the cash held as part of the portfolio to be cash at bank, and it is included in the balances at bank. Fund accounting Restricted funds are subject to specific restri1ve 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 Ihe general objectives of the charity.
THE AMELIA CHADWICK TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TFt APRIL 2023 Income recognition Income from investments comprises dividend income and interest and are recognised when the amount is certain. Expenditure recognition Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation commilting 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 accrual basis. All expenses, including support 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 include 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 charily. Governance costs relate to compliance with constitutional and statutory requirements and specifically include all costs incurred by the charity in producing the Annual Report. Charitable activities include grant funding, along with associated support costs, to beneficiaries. These are dealt with in the Statemenl of Financial Activities when payment has been approved by the charity. Governance costs relate to compliance with constitutional and statulory requirements and specifically include all costs incurred by the charity in producing the Annual Report. Cash and cash equivalents Cash and cash equivalenls 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 32 '0ther Financial Instruments Issues, of FRS 102 to a11 of its financial instruments. Financial inslrumenls are recognised in the charity's balance sheet when Ihe 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 seltle Ihe liability simultaneously. Basic financial assots 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 inlerest method unless the arrangement constitutes a financing transaction, where the transaclion 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. io
THE AMELIA CHADWICK TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2023 Basic financial liabilities Basic financial liabilities, including creditors 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 lo corporation tax on income or gains falling within those exemptions. The charity is not able to recover Value Added Tax. Expendilure is recorded in the accounts inclusive of VAT. 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 apparenl from other sources. The estimates and associated assumptions are based on historical experience and other factors that are collsidered 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 ievised 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. 2. Income and endowments from: Unrestricted Total Total Funds Unrestricted Unrestricted 2023 2023 2022 Investments Investments dividends and interest 197,320 197,320 175,572 3. Expenditure on Raising funds" Unrestricted Total Total Funds Unrestricted Unrestricted 2023 2022 Investments management fees 11,175 11,175 11,445 li
THE AMELIA CHADWICK TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2023 4. Expenditure on charitable activities: a. Analysed as follows: 2023 2022 Unrestrictod Unrestricted Funds Funds Direct charitable expenditure.. Grant funding Grant making administration costs LCVS 168,900 9,500 149,300 7,250 178,400 156,550 2023 2022 Support & Governance costs.. Administration Accountancy Independent exaTllination 750 500 1,740 750 500 1,440 2,990 2,690 Total expenditure on charitable activities 181,390 159,240 Except for the Corporale Trustee, LCVS, trustees are not remunerated for their Servi8. No expenses were reimbursed to trustees during the year {2022.' none The following grants were made during the year.. Grants to organisations of £1,000 and over Age Concern Liverpool Age UK Allport UK Alzheimer's Research UK Alzheimer's Society British Red Cross Cenlre Point Claire House Compass Coram Beanstalk CPRE Croxteth Gems Community Association East Liverpool RDA Farms for City Children Fortune Centre Imagine Independen 1,450 2,500 6,000 3,000 2,000 6,200 2,000 2,700 2,000 2,000 2,000 3,000 3,000 2,000 1,000 2,000 12
THE AMELIA CHADWICK TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2023 Involve Northwest Kids, Cookery School KIND L'Ar¢he Ltd LCVS Everyday Changes Fund LCVS Grant Liverpool Dyslexia Association Liverpool in Arms MAP UK MAST Médicins Sans Fronlières Medical Aid for Palestinians Mersey Region Epilepsy Association Merseyside Holiday Service Micah Liverpool North Liverpool Foodbank Oxfordshire Dyslexia Association Priority Youlh Project Prisoners, Education Tiust Prostate Cancer Research Centre pss psu Royal Liverpool Philharmonic Society Salvation Army Shrewsbury House South Liverpool Foodbank SSAFA st John's Hospi stick and Step Sue Ryder Home The Florrie The Opening Doors Project Trussell Trust UNICEF Urology Foundation West Everton Community Council Whisc Whitechapel Centre Liverpool Wirral Brook Advisory Centre Wirral Churches, Ark Project Wirral Citizens, Advice Bureau Wirral Foodbank Wirral Hospice St John WirFal Women and Children's Aid Wirral YMCA World Animal Protection YMCA Liverpool 2,000 2,000 3,000 2,700 6,200 1,200 3,000 2,000 1,000 2,000 3,000 2,000 1,500 6,000 3,000 5,000 2,000 2,000 2,000 1,200 1,950 2,000 2,900 1,450 1,450 5,000 2,000 1,500 2,000 2,000 1,000 2,000 3,000 8,000 1,200 2,000 2,000 3,000 3,000 3,000 3,000 5,000 1,450 1,450 1,450 2,000 2,000 13
THE AMELIA CHADWICK TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2023 162,450 6,450 other grants 168,900 5. Fixed Asset Investments 2023 2022 Quoted Investments Fair value at 6th April 2022 Disposal proceeds Acquisitions at cost Realised {lossesllgains on investment assets Unrealised (losses) on investment assets 5,054,339 4,851,823 (70,0791 (564,3971 69,939 480,225 18,417) 309,963 (119,728) (23,275) Market Value at 5th April 2023 4,926,054 5,054,339 Book Value at 5th April 2023 2,884,928 2,893,484 Fixed asset investments are managed by Evelyn Partners and are held in custodianship, in an account designated for clients, registered in the name of nominee company Pershing Securities Limited. 6. Debtors 2023 2022 Income tax recoverable Accrued income 397 727 397 727 1,124 1,124 7. Cash at Bank and in Hand 2023 2022 Evelyn Partners - Capital Evelyn Partners- Income LCVS 101,122 10,714 211,008 101,913 9,264 206,280 322,844 317,457 14
THE AMELIA CHADWICK TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2023 8. Creditors 2023 2022 Accountancy fee LCVS Independent examination fee 1,250 2,820 1,250 2,328 4,070 3,578 9. Financial instruments 2023 2022 Carrying amount of financial assets: Debt instruments measured at cost 323,968 318,581 Equity instruments measured at fair value through income and expenditure 4,926,054 5,054,339 Carrying amount of financial liabilities: Measured at cost 4,070 3,578 10.Analysis of Net Assets between funds Fixed Asset Investments Net Current Assets Total 2023 2023 Unrestricted Funds: Capital Fund Incom8 Fund 4,926,054 101,122 218,776 5,027,176 218,776 4,926,054 319,898 5,245,952 Fixod Asset Investments Net Current Assets Total 2022 2022 Unrestricted Funds.. Capital Fund Income Fund 5,054,339 101,913 213,090 5,156,252 213,090 5,054,339 315,003 5,369,342 15
THE AMELIA CHADWICK TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2023 11. Unrestricted Funds Restated Reserves Surplusl Net 110sses)Igains on investment assets Reserves 2023 at beginning of year (Deficit) for year at end of year Capital Fund Income Fund 5,156,252 213,090 (129,0761 931 5,027,176 218,776 4,755 5,369,342 4,755 128,145 5,245,952 Restated Reserves at beginning of year Surplusl Net gains on (Deficit) investment for year assets Reserves at end of year 2022 Capital Fund Income Fund 4,869,564 208,203 286,688 5,156,252 213,090 4,887 5,077,767 4,887 286,688 5,369,342 C8Pltal 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. Restatement due to correction of income and capital reserves at year end 2021 There were no restricted funds received during the year or held at the year end12022'. None) 12.Rolated Party Transactions Charitable Activities.. these include.. grants totalling £7,400 (2022.. £7,400) to LCVS in support of the work il carries out and £9,500 (2022.. £7,250) granl making administration costs payable to LCVS. Support and govemance Costs.. these include £1,250 {2022.' £1,250) payable to LCVS in respect of accountancy and trust administratlon. Creditors.. these include £1,25012022: £1,250) owing to LCVS at Ihe year end. Also LCVS holds £211,008 (2022.. £206,280) see note 7. LCVS is related to the Trust by virtue of being the ¢orporale trustee. Other than those disclosed above, there were no further transactions with any relaled parties during the year. 16
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