N J MARSHALL CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 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………………………………………………………………………………………
1
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
INDEPENDENT EXAMINERS
Kreston Reeves LLP 9 Donnington Park 85 Birdham Road Chichester West Sussex PO20 7AJ
2
N J MARSHALL CHARITABLE TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 5 APRIL 2024
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 £39,516 (2023: £26,930 to 20).
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 in the UK (UCCF and Bristol International Student Centre).
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.
3
REPORT OF ThE TRIISTEES FOR THE YEAR EHDED S APRIL 2024 FINANCIAL REVIEW The charitys gross income ftK the year totslled £25.897 (2023: £33,647) and its net deficit aft expendfjture was £1160 (2023: £29,626). Accumldated funds decreased dur the year to £389,709 (2023: £391,869). Investsnents held have been acqulred in &cd)n wlth the pwers avallable to the tntst Sufficient assets are available to charws oblgth The strategy of the tharty Is to Invest In med1 ttsk InveStnts seektro a ccrtnblnal rern from income and captsl. The investsnert p)rtfolio showed a ga#i on revaluatvm aNI diSposS of £16,373 during the yw (2023: É31,40610s5). RESERVES POLICY The trustees wlll malrtsln resew at a brJY 5Nnllar le so by a MIXt of Inme on Investments and any donations r1v the trust can continue to provide grants meeting its Charitae objectfves over the shorl MlUM and terns. It Is however IVItable there will be some flurtuats'ons in the total level of reserves hekl year on year glven #od( market movements. In addr(lon, the trustees may draw on reser45 to supthment IrKome In proVIon of grants where It Ls felt to be appmprlate. polKy will be reviewed on an annual basB. Reseffts held as at 5 April 2024 t¢[ed £389,709 (2023: £391,869) Mr R W J Marsliall On behall of the bo¥d of Tneei Dats: 113
N J MARSHALL CHARITABLE TRUST
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES
FOR THE YEAR ENDED 5 APRIL 2024
I report to the charity trustees on my examination of the accounts of the N J Marshall Charitable Trust for the year ended 5 April 2024.
This report is made solely to the charity’s Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity’s 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 charity and the charity’s Trustees as a body, for my work or for this report.
Responsibilities and basis of report
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).
I report in respect of my examination of the charity’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 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared the accounts 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019.
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:
-
accounting records were not kept in respect of the Trust as required by section 130 of the 2011 Act; or
-
the accounts do not accord with those records; or
-
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.
Robert Beasley FCA Kreston Reeves LLP 9 Donnington Park 85 Birdham Road Chichester West Sussex PO20 7AJ
Date: 21 August 2024
5
Charity number: 220478
N J MARSHALL CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 5 APRIL 2024
| Note | 2024 | 2023 | |
|---|---|---|---|
| £ | £ | ||
| UNRESTRICTED FUNDS | |||
| Income: | |||
| Income from investments: | |||
| Dividends from listed investments | 6,824 | 6,974 | |
| Bank and other interest received gross | 1,573 | 1,173 | |
| Donations and legacies: | |||
| Gift aid and GAYE donations | 17,500 | 25,500 | |
| ────── | ────── | ||
| Total income | 25,897 | 33,647 | |
| --------- | --------- | ||
| Expenditure: | |||
| Expenditure on raising funds: | |||
| Investment management costs | 3,000 | 3,023 | |
| Expenditure on charitable activities: | |||
| Charitable donations | 3 | 39,516 | 26,930 |
| Accountancy fees | 1,452 | 1,452 | |
| Independent examination | 402 | 402 | |
| Bank charges | 60 | 60 | |
| ────── | ────── | ||
| Total expenditure | 44,430 | 31,867 | |
| --------- | --------- | ||
| Net income/(expenditure) and net | |||
| movement in funds before gains | |||
| and losses on investments | (18,533) | 1,780 | |
| Net gains/(losses) on investments | 16,373 | (31,406) | |
| ────── | ────── | ||
| Net movement in funds for the year | (2,160) | (29,626) | |
| Fund Balance brought forward | |||
| at 6 April 2023 | 391,869 | 421,495 | |
| Fund Balance carried forward | ─────── | ─────── | |
| at 5 April 2024 | 389,709 | 391,869 | |
| ═══════ | ═══════ |
The notes on pages 8 to 11 form part of these financial statements.
6
artty number. 220478 BALAFICE SHEET AS AT 5 APRIL 2024 2024 2023 UNREsfRIcfED FUIIDS FIXED ASSErs Investments 349,458 334,404 CURREiif ASSErs Cash at bank 42,3 59,145 UABILrrIES: amounts faifinp du¢ wlthln one year {1.812) (1,680) NEf CURREiif ASSErs 40,251 57,465 NEf ASSErs 389,709 391,869 ACCUMULATED FUND 389,709 391,869 Approved by the Board of and aL1 fty Ise aTrJ s1Jr on behalf of the Board by Mr R W J mahall Date: 1812 The notes on pages 8 to 11 fomi part rfthe* finarKial siattsw)ts.
N J MARSHALL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
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.
8
N J MARSHALL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024 - continued -
2 PRINCIPAL ACCOUNTING POLICIES CONTINUED
(g) Liabilities
- Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
(h) Cash at bank and in hand
- Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
9
N J MARSHALL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024 - continued -
3
| CHARITABLE DONATIONS | 2024 | 2023 |
|---|---|---|
| £ | £ | |
| Acorn Pregnancy Counselling Centre | 1,300 | 2,400 |
| Amen Trust | 6,000 | 3,000 |
| Arab World Ministries | 1,200 | 1,200 |
| Barnabas Fund | 300 | 300 |
| Bartimaeus Trust | 1,200 | 1,200 |
| Bristol International Student Centre | 250 | - |
| 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 | 2,000 |
| Elam | 1,200 | 1,200 |
| Embrace the Middle East | 1,200 | 1,200 |
| IFES | 360 | 360 |
| Open Doors | 1,200 | 1,700 |
| River of Life Church | 17,906 | 6,290 |
| Sally Singh | 360 | 360 |
| Syzygy | 180 | 360 |
| Tear Fund | 1,200 | 1,200 |
| UCCF | 600 | 600 |
| Worthing Food Bank | - | 500 |
| ─────── | ─────── | |
| 39,516 | 26,930 | |
| ═══════ | ═══════ |
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 | 2024 | 2023 |
|---|---|---|---|
| £ | £ | ||
| Investments listed on a recognised stock exchange | |||
| Market value brought forward | 334,404 | 368,098 | |
| Additions | 37,429 | 27,296 | |
| Disposals | (38,748) | (29,584) | |
| Net investment gains/(losses) | 16,373 | (31,406) | |
| ─────── | ─────── | ||
| Market value carried forward | 349,458 | 334,404 | |
| ═══════ | ═══════ | ||
| Historical cost carried forward | 285,267 | 288,633 | |
| ═══════ | ═══════ |
10
N J MARSHALL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024 - continued -
| 6 CREDITORS Accruals |
2024 £ 1,812 1,812 ═════ |
2023 £ 1,680 1,680 ═════ |
|---|---|---|
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.
8 STATEMENT OF FUNDS
Statement of funds – current year
| Balance at 6 | Income | Expenditure | Gains/ | Balance at 5 | |
|---|---|---|---|---|---|
| April 2023 | (losses) | April 2024 | |||
| Unrestricted | |||||
| funds | £391,869 | £25,897 | (£44,430) | £16,373 | £389,709 |
| Total funds | £391,869 | £25,897 | (£44,430) | £16,373 | £389,709 |
| Statement of | funds – prior year | ||||
| Balance at 6 | Income | Expenditure | Gains/ | Balance at 5 | |
| April 2022 | (losses) | April 2023 | |||
| Unrestricted | |||||
| funds | £421,495 | £33,647 | (£31,867) | (£31,406) | £391,869 |
| Total funds | £421,495 | £33,647 | (£31,867) | (£31,406) | £391,869 |
11