Charity commission number: 220473 THE MICHAEL MARSH CHARITABLE TRUST UNAUDITED ACCOUNTS FOR THE YEAR ENDED S APRIL 2022 THE MICHAEL MARSH CHARITABLE TRUST Contents Page Legal and administrative information 24 Trustees, report Independent Examinee5 report to the Trustees Statement of financial artivitie5 Balance sheet 9-15 Notes to the financial statements THE MICHAEL MARSH CHARITABLE TRUST (created by a Deed of Declarntlort ol Trust made ¢)n 18 August 1958 bv Mkhaèl Lèo Marsh who died 12 February 1993) IEGAL AND ADMINISTrATIVE INFORMATION Registered Charity Number 220473 IEnBland & Wales) Trustees Peter Gary 8arber Lee Nuttall Susan Lynn Bennett Address elo Pear Tree Cottage Yarrington Road Allrick Worcestershlre WR6 SEX Telephone.. 07812 743 485 Bankers Royal Bank of Scotland pl 79183 Colmore Row Birmingham B3 2AP Solicitors Mills & Ree￿ LLP 78-84 Colmore Row 8irmin8ham 83 2AB Independent Examiner David Hoose FCA Maiars LLP First Fboor Two Chamberlain Square Bim)ingham B3 3AX Investment Advisors Canaccord Genuity Wealth Management Slip House Princes DrNe Worcesler WRI 2PG Pagel I THE MICHAEL MARSH CTrIARITABLE TRLIST TRU5TEES' REPORT YEAR ENDEO 5 APRIL 2022 The trustees present their report along Wlth the financial statements of the Charity for the year ended 5 April 2022. CONSTITUTION ANO OBJECT5 The Trust was created by a Deed of Declaration of Tnjst made by Michael Leo Marsh on 18 August 1958. Mr Marsh dled in 1993 and the Trust was named in his Will as the re5iduary beneficiary of his estate. Mr Marsh's wife died in 2001 and she had a life interest in a fund which reverted to the Charity on her death. These funds were added on 30January 21XJ2. The Deed provlde5 thal the Trust Fund shall be held by the TnJstees"upon trust to pay or apply the income of the Trust Fund and such parts of the capital theieof.. as they shall from time to time think fit to or for such charitable institutions and charitable purposes and in such shares and proportions as... the Trustees shall from tlme to time In their absolute discretion determine." The Deed also provide5 that the Trust shall be known as Yhe Michael Marsh Charitable Trust.. ORGANISATION The Tru5tee5 who have served during thè year and sln¢e the year end are set out on page l. The Tnjstees have the power of appointing new trustee5. The Trustees meet at approximatety 4 tlmes a year to consider applications. When a new trustee is appointed, they will be brieled on their leg31 obli8ations under the charity and company law and informed of the Charitvs memorandvm and article5 01 association, the decision-makin8 process and the financial position. Any relevant training is provided a5 required dependin8 on the need5 of the individual trustee. The day to day management of the charity is carried out by the Clerk to the Trust, by whom all applications for 8rants are co-ordinated and presènted to the Trustees. together with all financial information at Trustees, meetings. oBJE￿IVEs AND ACllVITIES FOR THE PUBLIC BENEFIT The Trustees confirm thot they have referred to the guidan￿ conlained in the Charity Commission's general guidance on public benefit when reviewing the Trust's alms and objectives and in plannin8 fvture artivitle5 and 5ettin8 the grant makin8 policy for the year. ACHIEVEMENTS The Trustees awarded giants totallinB £227.860 dvring the course of the financial year, listed individually on pages 12-15. GftANT-MAKING POUCY The Trustees, policy regarding grants is a5 follows.. Grants are made to charltles worklng in areas of Birmingham, Staffordshire. Worcestershire, Warwickshire, Coventry, Wolverhampton and a550uated towns in the Black Country. The Trustees do not consider applications for support frorn individuals. although they will consider applications submitted by charitable institutions on behalf of individuals. Pègel 2 THE MICHAEL MARSH CHARITABLE TRUST TRUSfEES' REPORT YEAR ENDED 5 APRIL 2022 3. The Twstees do not look to contribute to operating costs that could be met out of State resource5. 4. The following types of charities are not nornia1￿ considered for grants- Animal Entertainment 5. The Trustees seek to rnake a roughty equal division of funds between charities concerned wlth old people, children, the disabled, the poor and educational needs. RESERVES POUCY In the light of letters of wishes written by Mr Marsh during hi5 lifetime, the Trustees constder the investments nd cash transferred to the Charity by Mr Marsh. his estate and Mfs Marsh's fund to be expendable endowment. The Tiustees aim to spend all current income each year. The Trustees do not consider it appropriate to hold any level of income reserves. Endowment reserves at 5" April 2022 were £2,940.548 12021.. £2,999,5041. INVESTMENT POUCY AND PERFORMANCE The Trustees have wide investment powers. These are set out in the Trust Deed as follows.. "Money liable to be invested hereunder may be paid or applied in the purchase of or in lendlng upon the security of any form ol property whatsoever or wheresoever as If the Trustees were absolute owners thereof and whether or not the maklng of such payment or application amount5 Strictly to the investment of the money $0 paid or applied.~ The Charity's Inve51ment 5tralegy Is to malntain a balance between income generation and capital growth. The Trustees accept a moderate level ol risk in pursuing thi5 objective and this level of risk is defined in the a8Teement with the Charity's investment manager5. As at 5 Aprll 2022, the portfolio was valued at £3,114,916 includlng cash held wlth the Investment manager. Within thi5 year, there were withdrawals amouniing to a total value of £107,144. After taking this into account, the portfolio rose by 2.27% compared to the FtSE I(￿} Index whlth rose by 13.01%. The Income generated by the investment has fallen. this may be due to the situatlon regarding COVID-19 and the impact it has had on the econorny. RISK MANAGEMENT The Tru5tee5 have reviewed the major risks to which the Charity is exposed, in particular those relating to operations and finance5, and are satisfied that the systems are in place to mitigate exposure to those risk5. The major potential ri5k5 are theft. losse5 due io bad Investrnents and fraudulent applications. The Charity'5 investments are managed by a reputable firm of investment managers, currently Canaccord Genuity Wealth Management and the Trustees have an agreement in place with them which sets out the terrns upon which they manage the investments and a detailed Statement of Guidance which sets out the Trustees. investment policy and attitude towards the risk and risk management. Canaccord Genuity Wealth Management report quarterly on 30 June, 30 September. 31 December and 31 March respectivelv. Money is held in two places lall in the name of the Charrtyl.. a Tnjstees. accounts at The Royal Bank of Scotland and a Deposit Account at Canaccord Genuity Wealth Management. No physical cash is held and funds are onlv paid out by cheque and all three Trustees. signatures are required on all cheques. Pagel 3 THE MICHAEL MARSH CHARITABLE TRUST TRusfEES' REPORT YEAR ENDED 5 APRIL 2022 Regarding the grant makin8 procedure, applications are reviewed by the Trustees on a qu3rtefly basi5. Cheques are then drawn in favour of the successful applicants and circulated between the Trustees for their slgnatures and returned to the Clerk of the twst. Each successful applicant is asked to acknowled8e safe receipt of their cheques. A bank reconciliation exercise is carried out on a quarterly basis before each Trustees, meeting. TRUSTEE5' RESPONSIBIUTES IN RELATION TO THE FINANCIAi STATEMENTS The law applicable to charitie5 in England and Wales requires the Trustees to prepare financlal statements for each financial year which glve a true and lair view of the ChariW5 financial activities during the year and of Its financial position at the end of the year. In preparing those financial 5tatement5. the Trustees are required to.. select suitable accountin8 policies and then apply them consi5tentty,' make judgements and estimates that are reasonable and pnjdent.. State whether applicable accounting Star￿ardS and statements of recommended practlce have been followed subject to any departures disclosed and explained in the financial statements,. and prepare the financial statements on the going concern ba515 unless bt 15 Inappropriate to presume that the Charlty will contlnue In buslness. Thé Trustees are responslble for keepin8 accountlng records whlch dlsclose wlth reasot)able accurary at any time the linanclal position of the Charity and enable them to ensure that the financlal statements comply with the Charities Act 2011. Thfy are responsible for safeBuarding the assets of the Charity and hence for taksng reasonable steps for the prevention and det￿tion of Iraud and other irregularities. Approved by the Tru5tee5 on IS Iv(wlT 201 S L Bennett P G Barber Page 14 THE MICHAEL MARSH CHARITABLE TRUST INDEPENDENT EXAMIP4ER'S REPORT TO THE TRUSTEES YEAR ENDED 5 APRIL 2022 I report on the financial statements of the charity for the yeaf ended 5 April 2022, which are set out on pages 7 to 15. Respectlve responslbllltle5 of trustee5 and e¥aminer The ¢haritV5 tru5tee5 are responsible for the preparation of the fonancial statements. The charlty'5 trustees consldei that an audit Is not Tequired for this year under section 144121 of the Charities Act 2011 (the 2011 Act) and that an independent examination b5 needed. It is my responsibllity to.. examine the financial statements under section 145 of the 2011 Act- follow the procedures lald down in the gerheral Directions given by the Charity Commission under sectSon 14515llbl of the 2011 Act.. and State whether particular matters have come to m¥ attentlon. Thi5 report, includin8 wny 5%atement. ha5 been prepared for arKI only for the charlws trustees as a body. Mv work has been undertaken 59 that I mlght Slate to the charitV5 trustees those matters l 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 a55ume responsibillty to anyone other thart the charity and the charitvs trustees as a bodv for my examlnation work. lor this report. or for the statements I have made. Bas15 of Independent examlnerfs report My examination wa5 carried out in ac¢ordance vrrith the general Dirertion5 given by the Charity Commission. An examination includes a review ol the a¢tounting records kept by the charity and a cornparison of the financial statements presented with those records. It also includes consideration of any unusual items or disc105ures In the financial statements, and seeking explanations from you as trustees concerning any such atter5. The procedures undertaken do not provide all the evidence that would be requifed in an audit and consequently no opinion is given as to whether the financial 5tatement5 present a'true and falr vlew, and the report 15 limlted to those matter5 set out in the statement below. Independent examlnerfs statement In connection with my exambnaiion, which is complete, no matters h3ve come to my attentSon which give me reasonable cause to believe that in any material re5pect= accouniin8 records were not kept in respect of The Michael Marsh Charitable Trust in accordance with Section 130 of the 2011 Art; or the financial Statements do not accord with those records- or the finantial statements do not cornply with the applicable reqU1￿MentS concerning the form and content of financial statements set out in the Charities (Accoursts and Report51 Regulations 2CY)8 other than any reouirement that the financial 5tatement5 give a 'true and fairf view whith 15 not a matter considered a5 part of an independent examination. Page15 THE MICHAEL MARSH CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES YEAR ENDED 5 APRIL 2022 I have no concerns and have come across no other matter5 in connertion with the examination to which, in my opinion, attentlon should be drawn in order to enable a proper understsnding of the financial statements to be reached. David Hoose FCA Mazars LLP Two Chamberlain Square Birmingham B3 3AX Date.. Sep 2. 2022 Page 16 THE MICHAEL MARSH CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED S APRIL 2022 Note untestrfrt￿ Endow- Funds ment Funds Total Total Funds 2022 Funds 2021 Income Investment Income 109,029 109.029 99A02 Expendltu On charitable èctivitie5 1236.1361 1236.1361 189.1131 Net incomellexpenditurel before Ilossesllgalns on Sb)vestments 1127,1071 1127,1071 10,289 Transfer from Endowment Funds 127.107 1127.1071 Galns on iDve5tments', 68.151 68,151 829,434 Net IntomelleMpendSturel and movement In funds IS8.9561 {58.9561 839.723 Balances brought forward at 6th Apr51 2021 2.999.504 2.999.504 2.159,781 Balance carrled forward at 5th Apr51 2022 2,940,548 2.940,548 2.999,504 The notes on pages 9-15 form part of these accounts. All ol the above results are derived from contlnuing actlvlties. All Bains and losse5 in the year are Included In the above. Page17 THE MICHAEL MARSH CHARITABLE TRusr BALANCE SHEEf AS AT 5 APRIL Z022 Note Z022 2021 FIMed A5Stts Unquoted Investment5- at par 167 167 Quoted Investments 3,114,916 3,115,083 3.152.833 3.153,000 Current Assets Cash on Current account èt bank Cash on Deposlt at Bank Cash on Deposit at Stockbroker5 2,SC(J 61,182 8,981 29,356 31,856 72.663 Llabllltles Amounts falllng due wlthtn one year 123.391 118.659 Net Current Llabllltle5 91,535 145,9961 Total A55els less Curreni Uabllhlés 3,023,548 3,107,004 Amounts falling due after more than one ve3r 83,(MXJ 107,5 Total Assets les5 Total Uabllttles 2.940.548 2.999,504 Funds Endowment 2,940.548 2.999.504 The flnanclal statements were appro¥ed by the Trustees on S L 8tnnett PGBar Page18 THE MICHAEL MARSH CHARITABLE TRUST N07ES TO THE FINANCIAL STATEMENTS YEAR ENDED S APRIL 2022 ACCOUNTING POLICIES al Basls of Preparatlon These financTral statements have been prepared in accordance with the Statement of Recommended Practice for Charities ISORP IFRS 102 Section IAII. in accordante wtth the Financial Reporttng Standard IFRSI 102 Section IA and the Ch3ritbes Act 2011. These financial statements are prepared under the historical cost convention. a5 modified by the revaluation of listed investments to market valve. The Michael Marsh Charitable Trust meets the definition of a public benefrt entity under the Charities SORP. bl Assessment of 8olnB 245.497 235,620 179.•1 157,018 % of Portlollo 7.88 Scottlsh Mortgage Investment IP Morgan Global Growth & Income North American Income Trust Legal & General Group 7.56 5.76 LIABILITIES- •mounts l311Sng due wtthln one year 2022 2021 Independent examination fees Administration fee5 Unpresented cheques 2,454 437 17,sIXJ 2,382 46S 38,812 Grants committed to.. Birmingham Cathedral Chapter Newstarts S4E Limited Severn Angels Housing and Support The KEHS Trust Trailblazers Mentoring University of Birmingham IA281 University of Bimiingham (Student Support Match Fund} University of Warwick Ilntouniversityl S,CKJO 20,CN)O 7.500 30.OfKI 30,OCKI 2,CK)O 5.500 25,OCKI 25.0 25.0￿) 123,391 118.659 Page 111 THE MICHAEL MARSH CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR Et4DED 5 APRIL ZOZI LIABIUTIES- amounts fallin8 due after more than one year 2022 2021 Grants committed to: The KEHS Trust University of Birmingham IA2BI University of Birmingham1Student Support Match Fund) Univer51ty of Warwick Ilntouniversityl 52,51Kl 5,500 25.0 82.500 25,OLKJ 107,500 83,0 RELATEO PARTY TRANsA￿loNS There are no related party transartions during the year ended 5 April 2022 or the prior year. GRANTS MADE DURING THE YEAR ENDEO S APRIL 2022 2022 2021 Elderly l Old People 291 Community A550ciation Age UK 8irmingham Age UK Sandwell Bethel New Life Apostolic Church and Community Hall Independent Age Marywale Community Project Misfits Music Foundation Narthex Sparkhill Quinborne Community Association Rainy Day Trust I,soo 1,5 I,IxJo 1,500 1,500 lo,￿0 Children l Young People 2nd Warwick Sea Scouts Ackers Adventure Birmingham Orminton AcademyTheatre British Disabled Angling Association Create IArtsl Ltd Duke of Edinburgh's Award 3,352 2,51XI 1.500 5,CQO Page | 12 THE MICHAEL MARSH CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED S APRIL 202Z Edward's Trust Family Fund Friends of Victoria School Guy's Gift Home-start South Warwickshlre KIDS Kingswood Trust Marine Society and Sea Cadets Music of Llfe Performance Birmingham Limited Place2Be Police Community Clubs of Great Britain Redthread Youth Ltd Sandwell Youth in Action Street Teams Sudden Productions Teenage Cancer Trust The Birmingham Boys and Girls Union The Haven, Wolverhampton The Norman Laud Association The Prince's Trust Tiny Tim's Children's Centre Volunteering Matters West Midlands Quaker Peace Education Projert YMCA Heart of England 1.000 1.500 1.000 2,000 2,000 2,500 2,500 I,￿0 2,51X) 1,000 2,1XJO 2,500 1,500 2,CKJO 2,QKIO 33,51XI 35,452 People with Disability Autistica Avery Fields Community SFM)rts Trust Birmingham Royal Ballet British Disabled Angling Association Caudwell Children Childhood Eye Cancer Trust Chris Westwood Charity Deafblind Disability Resource Centre DouElas Bader Foundation Frozen Light KIDS 2,500 2,500 2,500 1,000 960 2,500 2.000 I,LKJO 1,5 2.500 Page | 13 THE MICHAEL MARSH CHARITABLE TRLIST MOTES TO THE FINANCIAL STATEMENTS YEAR ENDEO S APRIL 202Z Living Paintings Multiple Sclerosis Trust Muscul3r Dystrophy Support Centre myaware NICE- Centre for Movement Disorders Thrive Wolverhampton Samaritans 1.000 2,250 2.000 3(XJ 2,500 51XJ 16,750 21,260 Relief of Poverty A Band of 8rother5 Foodcycle Free@Last Kid50ut UK Mitchell's Miracle5 Neuroblastoma Charity Newstarts Piers Road New Communities Centre Association Sandwell Homeless and Resettlement Project Severn Angels Housing and Support Solihull Christian Fellowship Spitfire Advice and Support SeNices St Anne's Hostel St Basil'5 St Luke's Gas Street Church Suited for Suttess The Big Issue Foundatlon The Royal Agricultural Benevolent Institution Two Pennies Money Advise ReCOM 2,500 6,000 2,500 7,500 2,(KlO 2,500 1.600 500 1,500 I,c￿0 2,000 I,￿0 27,780 28,500 Education l Tralnlng Coach Core Prisoners, Education Trust Sandwell African Women Assocation Shannon Trust The Girls, Network The Royal National College for the Blind Transitions UK 2,150 1.5(M) 2,500 3.000 Page114 THE MICHAEL MARSH CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 5 APRIL 2022 University of Birmingham IA281 University of Birmingham Istudent Support Match Fund) Way Ahead Support Services 16,5(Kl 75,OCrf) 3.0(XJ 99.￿0 10,650 General Charitable Purposes Acacia Family Support Azad Kashmir Welfare Association Bipolar UK Birmingham Cathedral Chapter Birmingham Community Healthcare NHSGeneral Charity Birmingham St Mary's Hospice CleanupUK CoppaFeell Cytle-R Family Fund Home-start Birmingham North and Inner City Katharine House Hospice Koestler Arts Marie Curie Our Lady of Wayside Catholic Church PCC Of Ecclesiastical Parish of St Matthew, Perry Beeches Prisoner Advice and Care Trust Ryders Green Methodist Day Centre Sandwell Asian Development Association Stechford Baptist Church SupFlOrt Through Court The Colebridge Trust The Mary Stevens Hosplce Three Trees Community Centre University of Birmingham Walk Ministries Welcome to Our Future YHA Trinity Christian Centre Trust (Rowheath Pavilion) 2,500 2,500 1,500 2,(NJO I,soo 1.5CM) 1.330 3,LNJO 1,500 1,000 2,000 1,000 s,￿0 iO.OtM) 2,500 1,000 1,000 2,000 3,5C(J 1.250 I,￿0 2,500 50,0(X) 40,830 23,250 TOTAL 227,860 80,612 Page 115