The G F Eyre Charitable Trust Annual Report Year ended 5 April 2022 Registered Charity number 216040
The G F Eyre Charitable Trust
Contents
Year ended 5 April 2022
Page
| 1 | - | 3 | Trustees' Report |
|---|---|---|---|
| 4 | Independent Examiner's Report to the Trustees | ||
| 5 | Statement of Financial Activities | ||
| 6 | Balance Sheet | ||
| 7 | - | 14 | Notes to the Accounts |
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The G F Eyre Charitable Trust
Trustees' Report
Year ended 5 April 2022
The Trustees present their Annual Report and the financial statements for the year ended 5 April 2022.
The financial statements comply with 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 (FRS 102).
Objectives and Activities
The objective of the Charity is to support such charitable purposes generally and in such manner as the Trustees in their absolute discretion may from time to time determine.
The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning future activities and making monetary grants to good causes. The Trustees supported a wide range of different local and national causes, including charities working for human medical research, the relief of suffering and respite, and conservation.
Achievements and Performance
During the year ended 5 April 2022, the Trustees made 63 separate grants, totalling £117,506 to good causes. Individual grants ranged from £500 to £9,700.
The Charity incurred investment management fees of £3,390.
Financial Review
The attached accounts show that the Charity’s investments increased in value to £470,767. The trustees are satisfied that the current state of its finances is sound.
Investments
The investments held by the Charity were acquired in accordance with the powers granted to the Trustees in the Trust Deed and are managed on a discretionary basis by a firm of professional stockbrokers.
Donations Policy
The Trustees grant donations to good causes on a discretionary basis.
Conflicts of Interest
It is the policy of the trustees to follow the guidance given by the Charity Commission in “Conflicts of interest: a guide for charity trustees” (CC29).
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The G F Eyre Charitable Trust
Trustees' Report (continued)
Year ended 5 April 2022
Reserves Policy
The Trustees and their agent continually monitor the level of unrestricted funds. Unrestricted funds comprise both the Unrestricted Income Fund and the Expendable Endowment Fund (because the trustees have discretion to make charitable payments from both income and capital). Together, these are the free reserves of the charity. The Trustees and their agent ensure that they are sufficient to meet the payment obligations of the charity as they fall due.
At 5 April 2022 the charity had net bank and cash balances of £33,701 (2021: £30,403), of which £987 (2021: £932) represents unrestricted reserves. In the Trustees’ opinion, the level of income reserves at 5 April 2022 was sufficient for requirements.
Structure, Governance and Management
The Trustees meet annually on a formal basis. In the interim, payments to good causes are nominated by individual Trustees and the administration of the Charity is carried on by an agent appointed by the Trustees. There are no employees.
Under the Trust Deed, the power of appointing new or additional Trustees is vested in the Trustees.
Future Plans
In the year ahead the Trustees plan to continue to pursue the Charity’s objectives by making monetary grants to good causes, with donations continuing to be made on a discretionary basis.
Reference and Administrative Details
Trustees Mrs C A Eyre Mr C G S Eyre Mrs R E Young Charity number 216040 Principal Address C/o Mr A H Richards Centenary House Peninsula Park, Rydon Lane Exeter EX2 7XE Chairman Mr C G S Eyre Independent Examiner Neil Hitchings FCA Francis Clark LLP Chartered Accountants Centenary House Peninsula Park, Rydon Lane Exeter EX2 7XE
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The G F Eyre Charitable Trust
Trustees' Report (continued)
Year ended 5 April 2022
Reference and Administrative Details (continued)
Bankers HSBC 17 East Street Bridport Dorset DT6 3JZ
Statement of Trustees’ Responsibilities
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 and 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:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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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 operation.
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 and the applicable Charities (Accounts and Reports) Regulations. The trustees are also responsible for safeguarding the assets of the charitable trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Trustees on 2 February 2023 and signed on their behalf by:
Mrs C A Eyre – Trustee Mr C G S Eyre – Trustee Mrs R E Young - Trustee
Date: 2 February 2023
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The G F Eyre Charitable Trust
Independent Examiner's Report to the Trustees
Year ended 5 April 2022
I report to the trustees on my examination of the accounts of the G F Eyre Charitable Trust (‘the Charity') for the year ended 5 April 2022, which are set out on pages 5 to 14.
Responsibilities and basis of report
As the charity 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 Trustee’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 Commissioner under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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(a) accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
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(b) the accounts do not accord with those records; or
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(c) 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.
______ Neil Hitchings FCA Independent Examiner Francis Clark LLP Charted Accountants Centenary House Peninsula Park, Rydon Lane Exeter EX2 7XE
Date: 3 February 2023
5
The G F Eyre Charitable Trust
Statement of Financial Activities
Year ended 5 April 2022
| Unrestricted fund Note £ Income and endowments Donations and legacies Sadborow Trust Company 120,000 Investment income 5 970 Total income 120,970 Expenditure Cost of raising funds: Bank charges 19 Investment management fees 3,390 Grants payable in furtherance of the charity's objects 117,506 Total expenditure 120,915 Net income / (expenditure) before gains / (losses) on investments 55 Realised gain on disposal of investment assets - Unrealised (loss) / gain on revaluation of investment assets 6 - Net gains on investments - Net movement in funds 55 Reconciliation of funds Total funds brought forward 932 Total funds carried forward 987 Expenditure on charitable activities: |
Endowment fund £ - - - - - - - - 11,224 (7,936) 3,288 3,288 500,193 503,481 |
Total 2022 £ 120,000 970 120,970 19 3,390 117,506 120,915 55 11,224 (7,936) 3,288 3,343 501,125 504,468 |
Total 2021 £ - 8,289 8,289 - 2,771 89,830 92,601 (84,312) 7,904 107,782 115,686 31,374 469,751 501,125 |
|---|---|---|---|
The notes on pages 7 to 14 form part of these accounts.
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The G F Eyre Charitable Trust
Balance Sheet
As at 5 April 2022
| Note Fixed assets Investments 6 Total fixed assets Current assets Cash at bank and in hand Bank current account Bank deposit account Total current assets Current liabilities Overdraft Bank current account Total current liabilities Net assets The funds of the charity Endowment funds 7 Unrestricted income funds 7 Total charity funds |
£ £ 470,767 470,767 5,564 28,137 33,701 - - 504,468 503,481 987 504,468 2022 |
£ £ 470,722 470,722 - 48,126 48,126 (17,723) (17,723) 501,125 500,193 932 501,125 2021 |
|---|---|---|
The financial statements on pages 5 to 14 were approved by the board of trustees on 2 February 2023 and were signed on their behalf by:
___ ___ Mrs C A Eyre - Trustee Mr C G S Eyre - Trustee Mrs R E Young - Trustee
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The G F Eyre Charitable Trust
Notes to the Accounts
Year ended 5 April 2022
1 General Information
The G F Eyre Charitable Trust is an unincorporated charitable trust registered as a charity. Details of the charity, including the Principal Address, are included in Reference and Administrative details in the Trustees’ report.
2 Accounting Policies
The principal accounting policies adopted in the preparation of the financial statements are as follows:
a) Basis of preparation
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 Charities SORP (FRS102), the Charities Act and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).
The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value except that certain items are carried at fair value.
The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. The departure has involved following Accounting and Reporting applicable in the UK and Republic of Ireland (FRS 102) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has been withdrawn.
The charity meets the definition of a public benefit entity under FRS102.
The Trustees are not aware of any material uncertainties that would cast doubt on the charity’s ability to continue as a going concern, therefore the financial statements have been prepared on a going concern basis.
The functional currency of the G F Eyre Charitable Trust is considered to be pounds sterling as that is the currency of the primary economic environment in which the charity operates.
b) Investment assets and income
Investments are carried at fair value. Gains or losses on disposals and on annual valuation of investments are credited or charged in the Statement of Financial Activities. Dividends and interest receivable are shown in the Statement of Financial Activities.
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The G F Eyre Charitable Trust
Notes to the Accounts (continued)
Year ended 5 April 2022
2 Accounting Policies (continued)
c) Funds
Unrestricted funds are donations and other incoming resources received or generated for the objects of the Charity without further specified purpose and are available as general funds.
Expendable endowment funds are capital receipts which may be applied for such charitable purposes, or invested to produce income for such charitable purposes as the trustees consider appropriate. Although the Trust Deed allows the Trustees to make charitable payments out of all the charity’s funds, it is the Trustees’ policy to make payments out of income funds.
d) Incoming resources
Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when the charity has entitlement to the income, there is sufficient certainty of receipt, it is probable that the income will be received and the amount of income receivable can be measured reliably. Quoted investments receivable are included at market value on the date of the gift. The value of services provided by volunteers has not been included.
e) Expenditure
Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered.
f) Grants payable
Grants made voluntarily by the Charity are recognised when the obligation to pay arises.
g) Taxation
Taxation payable, less amounts receivable, is deducted from the source of income or added to the item of expenditure that gives rise to it on the face of the Statement of Financial Activities. Gift Aid income includes recoverable tax.
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The G F Eyre Charitable Trust
Notes to the Accounts (continued)
Year ended 5 April 2022
3 Statement of prior year financial activity (for the year ended 5 April 2021)
| Reconciliation of funds Total funds brought forward Total funds carried forward of investment assets Unrealised gains on revaluation of investment assets Net gains on investments Net movement in funds Realised gains on disposal Grants payable in furtherance of the charity's objects Total expenditure Net expenditure before gains on investments Expenditure on charitable activities: Total income Expenditure Cost of raising funds: Investment management fees Investment income Sadborow Trust Company Income and endowments Donations and legacies |
Unrestricted fund £ - 8,289 8,289 2,771 89,830 92,601 (84,312) - - - (84,312) 85,244 932 |
Endowment fund £ - - - - - - - 7,904 107,782 115,686 115,686 384,507 500,193 |
Total funds £ - 8,289 8,289 2,771 89,830 92,601 (84,312) 7,904 107,782 115,686 31,374 469,751 501,125 |
|---|---|---|---|
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The G F Eyre Charitable Trust
Notes to the Accounts (continued)
Year ended 5 April 2022
4 Trustees’ Remuneration
No remuneration or expenses have been paid to the Trustees or their agent.
5 Income and endowments
| 6 | Investment income Income from UK investments listed on a recognised Stock Exchange Dividends Interest Interest on UK securities Bank interest Fixed asset investments Market value at 6 April 2021 Additions Equalisation Accumulated income Disposals Unrealised (loss) / gain on revaluation at 5 April 2022 Market value at 5 April 2022 - listed investments Cash at Broker Value at 5 April 2022 Breakdown of investments at market value Investments in the UK Investments outside the UK Market value at 5 April 2022 - listed investments Historical cost as at 5 April 2022 |
2022 £ 710 185 64 11 970 2022 £ 460,086 478,000 (2,188) 82 (460,145) (7,936) 467,899 2,868 470,767 467,899 - 467,899 475,835 |
2021 £ 6,751 1,152 355 31 8,289 2021 £ 355,954 56,601 (349) 174 (60,078) 107,782 460,084 10,638 470,722 242,527 217,557 460,084 333,634 |
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The investments are held primarily to provide an investment return for the Charitable Trust.
All investments are carried out at their fair value. Investments in equities and fixed interest securities are all traded on quoted public markets, primarily the London Stock Exchange. Therefore, fair value has been determined by reference to quoted prices for an identical asset. Investments are moved from Quilter Cheviot to Whitley Asset Management in the month of July 2021.
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The G F Eyre Charitable Trust
Notes to the Accounts (continued)
Year ended 5 April 2022
7 Funds
The Expendable Endowment Fund resulted from capital settlements on creation of the Charitable Trust, together with capital growth on the Charitable Trust's fixed asset investments. The Expendable Endowment Fund may be applied for such charitable purposes, or invested to produce income for such charitable purposes, as the Trustees consider appropriate.
The Unrestricted Income Fund may also be applied for such charitable purposes as the Trustees consider appropriate.
The Funds of the Charity are represented by the following assets:
| Unrestricted Income Fund Current year: £ Quoted investments - Net cash funds 987 987 Unrestricted Income Fund Prior year: £ Quoted investments - Net cash funds 932 932 |
Expendable Endowment Fund £ 467,899 35,582 503,481 Expendable Endowment Fund £ 460,084 40,109 500,193 |
Total 2022 £ 467,899 36,569 504,468 Total 2021 £ 460,084 41,041 501,125 |
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8 Related Party Transactions
There have been no related party transactions in the reporting period that require disclosure.
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The G F Eyre Charitable Trust
Notes to the Accounts (continued)
Year ended 5 April 2022
9 Expenditure on charitable activities
| Donations Mr C G S Eyre Autistica Bumblebee Conservation Trust Farm Africa Holditch Village Hall Kidney Research Lost Chord Lyme Regis Gig Club Orchid Project SSAFA Warrior Equine CIC The YOU Trust Mrs C A Eyre Axminster Choral Society Children's Air Ambulance Forde Abbey RDA Carriage Driving Greenfingers IFAW Medicins Sans Frontiers Melplash Show Society - Discover Farming Mercy Ships Operation Smile UK St Francis Leprosy Guild St Mary's Church, Thorncombe Mr C G S Eyre and Mrs C A Eyre Alzheimer's Society ChemoHero DEBRA Julia's House Lyme Regis Sailing Club Ltd, Youth Section Lyme Regis Sea School Pancreatic Cancer UK Carried forward |
£ £ 1,000 2,000 1,000 5,000 1,000 2,500 2,706 500 1,000 5,000 2,500 24,206 1,000 2,500 2,000 4,000 1,000 1,900 5,000 2,000 2,000 2,000 3,000 26,400 1,000 1,000 9,700 4,500 7,500 7,500 1,000 32,200 82,806 2022 |
2021 £ - 29,000 29,000 58,000 |
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The G F Eyre Charitable Trust
Notes to the Accounts (continued)
Year ended 5 April 2022
9 Expenditure on charitable activities (continued)
| Donations (continued) Brought forward Mrs R E Young Above & Beyond Alive Auditory Verbal UK Avon Riding Centre for the Disabled Ltd Bristol Noise Caring in Bristol CCS Adoption (Clifton Children's Society) Children's Hospice South West Genesis Trust Go Beyond Great Western Air Ambulance Charity The Green House Guide Dogs The Injured Jockeys Fund Jessie May Julian House Julia's House Lee Abbey Fellowship Medical Detection Dogs Meningitis Research Foundation The National Benevolent Charity One25 Rainbow Trust RD&E NHS Foundation Trust Charity Royal School of Church Music Royal Signals Charity School in a Bag Shelter The Southmead Hospital Charity Spinal Injuries Association St Peter's Hospice Subtotal carried forward to page 14 Carried forward |
£ £ 82,806 500 800 800 800 500 800 900 800 800 900 2,000 800 800 800 800 800 7,600 500 800 800 900 800 800 800 1,000 800 600 1,000 900 800 900 32,600 82,806 2022 |
2021 £ 58,000 58,000 |
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The G F Eyre Charitable Trust
Notes to the Accounts (continued)
Year ended 5 April 2022
9 Expenditure on charitable activities (continued)
| Donations (continued) £ £ Brought forward 82,806 Mrs R E Young Subtotal brought forward from page 13 32,600 Trussell Trust 500 Unseen 800 Water Aid 800 34,700 117,506 All donations were made from general unrestricted income funds. All donations were made to, or for the benefit of, institutions. 2022 |
2021 £ 58,000 31,830 89,830 |
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