2021-01-01-accounts - Alfred Foster Settlement

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Trustees' Annual Report for the period

Period start date Period end date 2[nd] January 2020 1[st] January 2021 To

From

Section A Reference and administration details

Charity name

Alfred Foster Settlement

Other names charity is known by

Registered charity number (if any) 229576

Charity's principal address Zedra UK Trusts, Booths Hall, Booths Park 3, Chelford Road,

Knutsford, Cheshire

Postcode WA16 8GS

Names of the charity trustees who manage the charity

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	Trustee name	Office (if any)	Dates acted if not for whole year	Name of person (or body) entitled to appoint trustee (if any)
	Zedra Trust Company(UK) Ltd	As above

Names of the trustees for the charity, if any, (for example, any custodian trustees)

Name Dates acted if not for whole year

TAR

March 2012

Names and addresses of advisers (Optional information)

Type of Name Address adviser Chartered Simmons Gainsford 14[th] Floor Accountant LLP 33 Cavendish Square London W1G 0PW

Name of chief executive or names of senior staff members (Optional information)

Section B Structure, governance and management

Description of the charity’s trusts

Type of governing document

Settlement Deed dated 15 January 1958

(eg. trust deed, constitution)

How the charity is constituted

Trust

(eg. trust, association, company)

New Trustee(s) can only be appointed by resolution of the managing Trustee(s). Trustee selection methods Such appointment would be confirmed by a formal deed.

(eg. appointed by, elected by)

Additional governance issues (Optional information)

You may choose to include additional information, where relevant, about:

policies and procedures adopted for the induction and training of trustees;
the charity’s organisational structure and any wider network with which the charity works;
relationship with any related parties;
trustees’ consideration of major risks and the system and procedures to manage them.

TAR

March 2012

Section C Objectives and activities

Summary of the objects of the charity set out in its governing document Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)	To apply the income arising for either or both of the following charitable purposes as the Trustee in its absolute discretion shall think fit: (a) The relief of poverty among employees (including former employees) of banks and their dependants (b) The advancement of education by providing for or assisting in providing for the education of children (whether infants or of full age) of persons who are or have been employees of banks and who without assistance from the Trust Fund might have difficulty in completing their education and the following provisions shall take effect only so far as consistent with the foregoingcharitablepurposes.
	The objects of the Trust are making grants to individuals as specified in the Trust. The Trustee(s) confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives and in planning future activities and setting the grant making policy for the year.

Summary of
the objects
of the charity
set out in its
governing
document
Summary of
the main
activities
undertaken
for the
public
benefit in
relation to
these
objects
(include
within this
section the
statutory
declaration
that trustees
have had
regard to the
guidance
issued by
the Charity
Commission
on public
benefit)

To apply the income arising for either or both of the following charitable
purposes as the Trustee in its absolute discretion shall think fit:
(a) The relief of poverty among employees (including former employees) of
banks and their dependants
(b) The advancement of education by providing for or assisting in
providing for the education of children (whether infants or of full age) of
persons who are or have been employees of banks and who without assistance
from the Trust Fund might have difficulty in completing their education and
the following provisions shall take effect only so far as consistent with the
foregoingcharitablepurposes.

The objects of the Trust are making grants to individuals as specified in the
Trust. The Trustee(s) confirm that they have referred to the guidance
contained in the Charity Commission’s general guidance on public benefit
when reviewing the Trust’s aims and objectives and in planning future
activities and setting the grant making policy for the year.

Additional details of objectives and activities (Optional information)

TAR

March 2012

You may choose to include further statements, where relevant, about:

 policy on grantmaki ng;

 policy programm e related investment ;  contributio n made by volunteers .

Section D Achievements and erformance p

TAR

March 2012

Section D Achievements and erformance p

The trust fund received £25,815 income and during the year under review the Summary of the main Trustee(s) donated £46,342 to individuals in accordance with the governing achievements of the charity document. during the year

TAR

March 2012

Section E Financial review

At the financial year end the capital value of the trust was £949,752 and a Brief statement of the balance of £16,738 undistributed income was held. The capital is retained and charity’s policy on reserves invested to generate income to fulfil its charitable objectives.

It is the trustee’s policy to distribute all income arising in the trust after allowing for any operating expenses. Because of timing differences between receipt of income and the authorisation of grant payments a balance of undistributed income may be held in reserve at the year end and this will be carried forward and distributed in 2021/22.

Details of any funds materially in deficit

Further financial review details (Optional information)

You may choose to include additional information, where relevant about:  the charity’s principal sources of funds (including any fundraising);
how expenditure has supported the key objectives of the charity;
investment policy and objectives including any ethical investment policy adopted.

Section F Other optional information

Section G Declaration

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s)

TAR

March 2012

Full name(s) SARAH TAYLOR

Position (eg Secretary, TRUSTEE Chair, etc)

28/5/2021

TAR

March 2012

CHARITY NAME: Alfred Foster Settlement

CHARITY NUMBER: 229576

Accounting Statement for year ended : 01 January 2021

Our Ref: U0285

(Receipts and Payments Basis) Our Own Analysis : YES

UNRESTRICTED FUNDS

RECEIPTS - INCOME

This year's amount to Last year's amount to the nearest £ the nearest £

Gifts and other voluntary receipts



Tax reclaims


Bank Account interest	3	28

Stocks and Shares
Dividends & Interest received	25812	31950


Other Receipts (not counting as“Gross Income”)


Total Receipts	25815	31978
PAYMENTS- INCOME

Payments directly for charitable purposes
Donations-See Schedule	46342	37006




Payments to Capital Funds

Payments for management and administration including VAT



Other payments

Professional Charges


Total payments	46342	37006

Net of Receipts/Payments	-20527	-5028
Cash funds last year end	37265	42293
Cash funds this year end	16738	37265

1 of 5

EXPENDABLE ENDOWMENT FUNDS

RECEIPTS - CAPITAL

Gifts and other voluntary receipts Receipt from sale of investments Total Receipts PAYMENTS- CAPITAL Payments to Income Funds Payments for purchase of investments and other assets Total Payments Net of Receipts/Payments Cash funds last year end Cash funds this year end FOR ZEDRA TRUST COMPANY (UK) LIMITED Trustee authorised to sign on behalf of all trustees	This year's amount to the nearest £	This year's amount to the nearest £	Last year's amount to the nearest £







	0		0








	0		0

	0		0
	0		0
	0		0

			28//5/2021
			Date

Trustee authorised to sign on behalf of all trustees Zedra Trust Company (UK) Limited UK Trusts Booths Hall Booths Park 3 Chelford Road Knutsford Cheshire WA16 8GS

2 of 5


PERMANENT ENDOWMENT FUNDS
RECEIPTS- CAPITAL Gifts and other voluntary receipts Refund of donation to Jessica Receipt from sale of investments Total Receipts PAYMENTS- CAPITAL Payments to Income Funds Payments for purchase of investments and other assets Other payments Other payments-Mazars LLP Simons Gainsford LLP Payments for management and administration including VAT Land Registry-bankruptcy check Payments for management and administration including VAT Total Payments Net of Receipts/Payments Cash funds last year end Cash funds this year end	This year's amount to the nearest £	Last year's amount to the nearest £ 21762 21762 810 15661 16471 5291 5093 10384 3 of 5


	3000

	19958	21762


	22958	21762
	720 19525 2







		810
	720
	19525	15661
	2





	20247	16471
	2711 10384 13095

STATEMENT OF ASSETS AND LIABILITIES

CASH FUNDS	INCOME Unrestricted funds to nearest £	CAPITAL Endowment funds Expendable or Permanent to nearest £
Current	16738	13095

Deposit

INVESTMENT ASSETS Stocks and Shares
Stocks and Shares		936657

4 of 5

-6163 -19.27°/. 9336 25.23°/. 5015

INDEPENDENT EXAMINER’S REPORT

Alfred Foster Settlement

Independent Examiner’s Report to the Trustees of Alfred Foster Settlement

I report to the trustees on my examination of the accounts of Alfred Foster Settlement (‘the charity’) for the year ended 01 January 2021 which comprise the summary of receipts and payments and the statement of assets and liabilities.

This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. 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 this 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, for this report, or for the opinions I have formed.

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 Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the 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:

➢ accounting records were not kept in respect of the charity as required by section 130 of the Act; or
➢ 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.

David Pumfrey FCA (Senior Statutory Auditor) For and on behalf of Simmons Gainsford LLP

Chartered Accountants 14[th] Floor 33 Cavendish Square London W1G 0PW Date: 27/09/2021