N J MARSHALL CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 CHARITY REGISTRATION NO: 220478
N J MARSHALL CHARITABLE TRUST
CONTENTS
Charity information ………………………………………………………………………………………………………… Report of the Trustees …………………………………………………………………………………………………… Independent Examiner’s Report to the Trustees ………………………………………………………………… Statement of financial activities………………………………………………………………………………………… Balance sheet ………………………………………………………………………………………………………………… Notes to the financial statements………………………………………………………………………………………
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N J MARSHALL CHARITABLE TRUST
CHARITY INFORMATION
REGISTERED NAME
The Nora Joan Marshall Charitable Trust
TRUSTEES
Mr R W J Marshall Mrs W A Marshall
GOVERNING INSTRUMENT
Trust Deed dated 20 June 1962
CHARITY REGISTRATION NUMBER
220478
REGISTERED ADDRESS
30 Manor Road Worthing West Sussex BN11 4RU
BANKERS
Barclays Bank Plc 1 Chapel Road Worthing West Sussex BN11 1EX
ACCOUNTANTS
Kreston Reeves LLP 9 Donnington Park 85 Birdham Road Chichester West Sussex PO20 7AJ
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N J MARSHALL CHARITABLE TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 5 APRIL 2023
OBJECTIVES AND ACTIVITIES
The Trust was set up in June 1962 by the late Miss N J Marshall, the capital and income to be applied for such charitable purposes as the settlor should determine during her lifetime or by her will. In default of such determination the trustees were given discretion to apply the Trust funds for such charitable purposes as they might decide. The aim of the charity is to assist Christians in promotion of the Christian faith through both word and action. Grants will be predominantly made to established Christian organisations seeking to achieve this objective although some grants may be made directly to individuals.
REFERENCE AND ADMINISTRATIVE INFORMATION
Reference and administrative information is given on page 2. The accounts comply with current statutory requirements, the Trust's governing instrument and the 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) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity is unincorporated and governed by Trust deed dated 20 June 1962.
New trustees will be appointed as decided by a simple majority of the existing trustees. Induction and training in respect of all trustees is undertaken as appropriate.
The trustees have considered the major strategic, business and operational risks which the charity faces and confirm that procedures are in place to ensure that these are controlled and when necessary lessened.
ACHIEVEMENTS AND PERFORMANCE
Charitable donations were made to 20 beneficiaries, totalling £26,930 (2022: £41,710 to 22).
ANNUAL REVIEW
During the year the Trust has continued in its objective of helping Christians promote the Christian faith through word and action.
Grants have been made to 20 beneficiaries/organisations. The activities of recipients are diverse and include supporting those being persecuted for their faith (Open Doors, Elam and Barnabas Fund), those with challenging personal circumstances in the UK (Caring for Life, Acorn Pregnancy Counselling Centre), caring for blind children (Bartimaeus Trust) and for disadvantaged children from the slums of India and work amongst the poor Roma communities in Romania (Amen). Funds have also been used to support the work of the local church (River of Life Church) and work amongst students across the UK (UCCF).
The trustees are committed to providing grants to a broad range of organisations (often charities themselves) and people meeting its objective. When planning its grant provisions, the trustees have considered the Charity Commission’s guidance on public benefit and in particular the specific guidance on charities for the advancement of religion.
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The tharivs gr055 irKome ts the y totalled £33.647 (2022: £32,589) aTrJ its net defKit after eXKIltUre vrds £29,626 (2022: £10,516). Accumula1 fijnds deu&75oJ durirrfj tt to £391.869 (2022: £421,495). Investrn hekS have i)Me a1 Ca1. The inbestsmert slMJw8J a k65 cffl rerfak&itm diwals of £31,406 the year (2022: £24,262 galn). RESERVES POLICY Reserves w1 be kept at a a Minim ( 2 yews rf tota (hjt1 m IN the Trust wlre these are on a regular tr Mr R W J Marshall 511133
N J MARSHALL CHARITABLE TRUST
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES
FOR THE YEAR ENDED 5 APRIL 2023
I report on the financial statements of the charity for the year ended 5 April 2023 which are set out on pages 6 to 10.
This report is solely to the trustees. My work has been undertaken so that I might state to the 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 trustees for my work, for this report, or for the opinions I have formed.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the financial statements. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the financial statements under section 145 of the 2011 Act;
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follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the financial statements present a “true and fair view” and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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1 which gives me reasonable cause to believe that, in any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the 2011 Act
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have not been met; or
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2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Robert Beasley FCA Kreston Reeves LLP 9 Donnington Park 85 Birdham Road Chichester West Sussex PO20 7AJ
Date: 6 July 2023
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Charity number: 220478
N J MARSHALL CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 5 APRIL 2023
| Note | 2023 | 2022 | |
|---|---|---|---|
| £ | £ | ||
| UNRESTRICTED FUNDS | |||
| Income: | |||
| Income from investments: | |||
| Dividends from listed investments | 6,974 | 6,744 | |
| Bank and other interest received gross | 1,173 | 845 | |
| Donations and legacies: | |||
| Gift aid and GAYE donations | 25,500 | 25,000 | |
| ────── | ────── | ||
| Total income | 33,647 | 32,589 | |
| --------- | --------- | ||
| Expenditure: | |||
| Expenditure on raising funds: | |||
| Investment management costs | 3,023 | 3,131 | |
| Expenditure on charitable activities: | |||
| Charitable donations | 3 | 26,930 | 41,710 |
| Accountancy fees | 1,452 | 1,176 | |
| Independent examination | 402 | 318 | |
| Bank charges | 60 | - | |
| ────── | ────── | ||
| Total expenditure | 31,867 | 46,335 | |
| --------- | --------- | ||
| Net income/(expenditure) and net | |||
| movement in funds before gains | |||
| and losses on investments | 1,780 | (13,746) | |
| Net gains/(losses) on investments | (31,406) | 24,262 | |
| ────── | ────── | ||
| Net movement in funds for the year | (29,626) | 10,516 | |
| Fund Balance brought forward | |||
| at 6 April 2022 | 421,495 | 410,979 | |
| Fund Balance carried forward | ─────── | ─────── | |
| at 5 April 2023 | 391,869 | 421,495 | |
| ═══════ | ═══════ |
The notes on pages 8 to 10 form part of these financial statements.
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BALANCE SHEET AS AT S APRIL 2023 2023 2022 UNRESTRIcfED FUNDS 334,404 368,098 at bank 59,145 54,897 wtthin one year (1.) (1,500) 57,465 53.397 NEf ASSErs 39169 421.495 ACCUMULATED FUND 391 421,495 Apwoved ty the knrd ofTn&ees aThJ ath)ri5& for aThl s4]J on tth3ff cé the knrd by Mr R W J M•rshall 5111?3
N J MARSHALL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
1 GENERAL INFORMATION
The charity is unincorporated. The address of its registered office can be found on the information page.
2 PRINCIPAL ACCOUNTING POLICIES
(a) Basis of accounting
The financial statements have been prepared under the historical cost convention, as modified by the revaluation of fixed asset investments, and in accordance with 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) (effective 1 January 2019) - (Charities SORP (FRS 102)) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
The Charity meets the definition of a small charity under the FRS 102 SORP and therefore is not required to prepare a statement of cash flows.
The Trust meets the definition of a public benefit entity under FRS 102.
(b) Investments
Investments are stated in the balance sheet at market value at the balance sheet date. Realised and unrealised gains and losses on investments are shown in the Statement of Financial Activities.
(c)
Income
Income from investments is recorded when receivable. Gift aid reclaimable on donations to the charity is included within the amount received.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the charity, can be reliably measured.
(d) Expenditure
Expenditure is included in the financial statements on an accruals basis. Irrecoverable VAT is charged to the Statement of Financial Activities as incurred.
(e) Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. The Trust holds no designated or restricted funds.
(f)
Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
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N J MARSHALL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023 - continued -
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| CHARITABLE DONATIONS | 2023 | 2022 |
|---|---|---|
| £ | £ | |
| Acorn Pregnancy Counselling Centre | 2,400 | 2,400 |
| Amen Trust | 3,000 | 15,500 |
| Arab World Ministries | 1,200 | 1,200 |
| Barnabas Fund | 300 | 300 |
| Bartimaeus Trust | 1,200 | 1,200 |
| Care | 1,200 | 1,200 |
| Care for the Family | 360 | 360 |
| Caring for Life | 1,200 | 1,200 |
| CMJ | 300 | 300 |
| E K & E Maari | 2,000 | 2,600 |
| Elam | 1,200 | 1,200 |
| Embrace the Middle East | 1,200 | 1,200 |
| IFES | 360 | 360 |
| Link to Hope | - | 500 |
| Open Doors | 1,700 | 1,200 |
| Operation Mobilisation | - | 1,000 |
| River of Life Church | 6,290 | 7,040 |
| S & Y Scrivener | - | 700 |
| Sally Singh | 360 | 90 |
| Syzygy | 360 | 360 |
| Tear Fund | 1,200 | 1,200 |
| UCCF | 600 | 600 |
| Worthing Food Bank | 500 | - |
| ─────── | ─────── | |
| 26,930 | 41,710 | |
| ═══════ | ═══════ |
4 TAXATION
The Trust is a registered charity and is, therefore, exempt from taxation on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.
| 5 | FIXED ASSET INVESTMENTS | 2023 | 2022 |
|---|---|---|---|
| £ | £ | ||
| Investments listed on a recognised stock exchange | |||
| Market value brought forward | 368,098 | 347,974 | |
| Additions | 27,296 | 18,330 | |
| Disposals | (29,584) | (22,468) | |
| Net investment gains/(losses) | (31,406) | 24,262 | |
| ─────── | ─────── | ||
| Market value carried forward | 334,404 | 368,098 | |
| ═══════ | ═══════ | ||
| Historical cost carried forward | 288,633 | 285,871 | |
| ═══════ | ═══════ |
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N J MARSHALL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023 - continued -
| 6 CREDITORS Accruals |
2023 £ 1,680 1,680 ═════ |
2022 £ 1,500 1,500 ═════ |
|---|---|---|
7 TRUSTEES' REMUNERATION AND EXPENSES
No remuneration directly or indirectly out of the funds of the charity was paid or payable for the year to any trustee or to any person or persons known to be connected with any of them.
No reimbursement of expenses has been made or is due to be made to any of the trustees in respect of the year.
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