## **CARR TRUST** ## **TRUSTEES’ ANNUAL REPORT** ## **AND RECEIPTS AND PAYMENTS ACCOUNTS** ## **YEAR ENDED 31st DECEMBER 2020** ANDERSON & SHEPHERD - Chartered Accountants 109 Buxton Road, Leek, Staffordshire ST13 6EH ## **CARR TRUST** ## **TRUSTEES’ ANNUAL REPORT** The trustees have pleasure in presenting the annual report and financial statements for the year ended 31st December 2020. ## **Trustees** The trustees who served during the year were as follows: P. Lockett J.E. Belfield M. Belfield G. Channon L.J. Ball B. Proctor C. Harley New Trustees are appointed by the Board of Trustees. ## **Governing Instrument** Three charities are administered under the title of Carr Trust, registered number 228152, as follows: - 1) The charity of Charles Carr, at Leek. - 2) The charity of Elizabeth Flint for the Poor, at Leek. 3) The charity of William Carr, in the town of Leek. The charities are regulated by a Scheme approved by the Charity Commission dated 14th January 1981. ## **Principal Address** The charity’s principal address during the year was: St. Lukes Church Office, Fountain Street, Leek. ## **Objectives and Activities** The trustees are required to apply the income of the charity either in the payment of pensions or for relief in need. The pensioners shall be needy persons who, except in special cases, are resident in the town of Leek. The trustees shall apply income of the charities for relief in need in relieving either generally or individually persons resident in the town of Leek who are in conditions of need, hardship or distress by making grants of money or providing or paying for items, services or facilities calculated to reduce the need, hardship or distress of such persons. During the year the charity's activities have been financed by investment income. -1- ## **CARR TRUST** ## **TRUSTEES’ ANNUAL REPORT (cont.)** ## **Statement of Trustees' Responsibilities** Charity law requires the trustees to prepare financial statements and a statement of assets and liabilities for each financial year, which give a true and fair view of the state of affairs of the charity and of its financial activities for that year, together with its assets and liabilities at the end of the year, and adequately distinguish any material special trust or other restricted fund of the charity. In preparing those financial statements the trustees are required to: - select suitable accounting policies and then apply them consistently; make judgements and estimates that are reasonable and prudent; - state whether the policies adopted are in accordance with the appropriate SORP on Accounting by Charities and the Accounting Regulations and with applicable Accounting Standards, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in business. The trustees are responsible for keeping proper accounting records which disclose, with reasonable accuracy at any time, the financial position of the charity, and enable them to ensure that the financial statements comply with applicable Accounting Standards and Statements of Recommended Practice and are in accordance with the Charities Act 2011 and regulations thereunder. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities. ## **Review of Activities and Plans For The Future** During the year the Charity continued to apply the income received for the payment of pensions or for relief in need. The Trustees plan to continue with this for the future. ## **Policy on Reserves** It is the policy of the Trustees to only use reserves to reinvest for the benefit of the Charity. ## **Risk Analysis** A risk assessment has been undertaken and the major risks facing the Charity have been identified. The Trustees consider that adequate steps have been taken to mitigate the risks identified and have implemented appropriate systems of control. This Trustees’ Annual Report was approved by the Trustees on and was signed on their behalf by: Signature Print Name ----------------------- --------------------- -2- ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES** ## **OF CARR TRUST CHARITY** I report to the trustees on my examination of the accounts of Carr Trust for the year ended 31[st] December 2020. ## **Responsibilities and basis of report** As the charity trustees of the 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 Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 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: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records. 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. Chartered Accountant 109 Buxton Road Leek Staffordshire ST13 6EH -3- ## **CARR TRUST** ## **RECEIPTS AND PAYMENTS ACCOUNT FOR THE** ## **YEAR ENDED 31[st] DECEMBER 2020** Unrestricted Funds 2019 £ £ £ **Receipts** Interest and dividends on investments 7,506 12,595 Investment sales 92,986 130,224 ------- ------- **Total Receipts** 100,492 142,819 **Payments** Investment management fees 4,178 4,159 Pensions 13,520 16,200 Grants to necessitous people of Leek 4,228 4,338 Administration expenses 2,170 3,040 Stationery, postage, sundries and advertising 123 69 Insurance 376 376 Accountancy charges 852 816 ------ -----25,447 28,998 Investment purchases 85,869 101,615 ------- ------- **Total Payments** 111,316 130,613 ------- ------- **Net receipts/payments** (10,824) 12,206 Cash funds as at 31[st] December 2019 35,439 23,233 ------ ------ **Cash funds as at 31[st] December 2020** 24,615 35,439 ====== ====== -4- ## **CARR TRUST** ## **STATEMENT OF ASSETS AND LIABILITIES** ## **AS AT 31st DECEMBER 2020** 2019 £ £ **Cash Funds** Bank Accounts 9,792 13,531 Investment Managers Accounts 14,823 21,860 Petty Cash - 48 ------ -----24,615 35,439 **Investment Assets** Investment Portfolio - at cost 431,033 431,547 ------- ------455,648 466,986 ======= ======= Approved by the Trustees and signed on their behalf by: Signature Print Name ----------------------- ------------------------------------------- --------------------- on -----------------------