THE JOHN SLATER FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 Charity Number 231145
THE JOHN SLATER FOUNDATION CONTENTS PAGE Pages Reference and Administration Details Report of the Trustee Independent Examiner's Report Receipts and Payments Account Statement of Assets and Liabilities Appendix 1
THE JOHN SLATER FOUNDATION REFERENCE AND ADMINISTRATION DETAILS Corporate Trustee HSBC Trust Company {UKI Limited Current Directors of Corporate Trustee J Hewitson J Coyle P M Spencer Trust Manager N Millar Principal Office Forum 1 The Forum Parkway Whiteley Fareham Hampshire P015 7PA Independent Exarniner Frances Millar ACA RSM UK Tax and Accounting Limiled Highfield Court Tollgate Chandlers Ford Eastleigh Hampshire S053 3TY Bankers HSBC Bank plc Forum 1 The Forum Parkway Whiteley Fareham Hampshire P015 7PA Investment Managers HSBC UK Bank plc 1 Centenary Squa Birmingham B1 1HQ
THE JOHN SLATER FOUNDATION REPORT OF THE TRUSTEE FOR THE YEAR ENDED 5 APRIL 2022 The Trustee presents tts report together with the financial statements of the charity for the year ended 5 April 2022, which have been prepared on a receipts and payments basis. The financial statements have been prepared in accordance with the charty's constitution and applicable law. The purchase and sale of investments results from the day to day management of the investment portfolio by the investment managers. In accordance with the Charities Act, the financial statements have been prepared on the receipts and payments basis given that the definition of gross income exeludes the receipt of any endowment, loans and proceeds from the sale of investrnents or fixed assets. Structure. government and management The John Slater Foundation is an unincorporated charitable trust and is constituted under the terms of the trust deed dated 3 Altgust 1963. The trust is a registered charity (no. 231145). The Corporate Trustee has appointed a designated trust manager to look after the charity- The investment manager reviews the performance and provides recommendations on the structure ol the investment portfolio. Under the terms of the deed, a committee consisting of not less than Iwo and not more than five members meets at least twice in every year and holds an annual meeting in May of each year. The committee assumes responsibility for the grant making activty of the trust. The committee members altending meetings can be made up of the following individuals= Mr Christopher Saullder5 (Chairman) Mr Christopher Band Mr Michael Darch Mr Tom Tutton Mr Andrew Brotherston Mr Richard Saunders HSBC Trust Company (UK) Limited Representative The power lo appoint additional Trustees is vested in the current Trustee and is exercisable in writing. Should new Trustees be appointed, the existing Trustee would take responsibility of their induction. The Trustee has examined the major strategic, business and operational risk5 which the charity faces and confirms that systems have been established lo enable regular reports to be produced so that the necessary steps can be taken lo mib.gate these risks. The main risk in the yeaf was considered to be the variability of investment returns. Objective5 and activities The objectives of the charity are to pay or to apply the income and capital of the trust in perpetuity for each charitable objective or purpose as the Trustee thinks frt, in accordan with the governing document. This is performed through the awarding of grants, in accordance with the ternis of the governing document. The Trustee considers grant making an effective method of delivering these objectives. Grants are awarded al the discretion of the committee. Achievements and performance During the year, 40 gran15 lotalling £131,103 12021= 46 grants totalling £121,846) were awarded to charitable institutions. in accordance with the terms of the governing document. One grant was returned during the year of £2.000 {2021'. no granlsl. No grants were awarded lo individuals in either year. Details of these grants are disclosed in Appendix 1 to the financial statements.
THE JOHN SLATER FOUNDATION REPORT OF THE TRUSTEE cont. FOR THE YEAR ENDED 5 APRIL 2022 Flnancial review The charity received funds from The John Slaler Foundation under the terms of the trust deed. These funds generate income, which is used for the purpose of grant making, in accordance th the objectives set out above. The charity generated income of £101,096 12021.. £126,409) in the year lo fvnd its charitable aclivilies. The expenditure on charitable activities was £178,68312021.. £141,596) of which £129,103 (2021.. £121,846) was charitable expenditure in the form of grants to charitable institutions. Investment policy In accordance with the governing document, the Trustee has the power to invest in such stocks, shares. investments and propety as is seen fit. The Trustee engaged HSBC UK Bank plc as investment manager. The policy is to adopt a low to medium risk investment strategy to protect, in absolute terms. the capital value of the fund whi15t producing a sustainable and growing level of income, and also providing the potential for longer term growth of capital in real terms. Reserves policy The unrestricted funds, which are the free reserves of the charity, and which are represented by the income arising are paid over to beneficiaries throughout the year. As the committee only fneets twice each year, the year end balance representg income to be allocated at the next meetirig, rather than a sustained accumulation. It is not the policy of the charity to maintain spectric reserves. The expendable endowment funds represent those assets which are held permanenuy by the charity and are principally investments. Income arising on the endowment fund can be used in accordance with the objects of the Charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund. The Trustee has the power to convert this fund into income. Public benefit The Trustee has referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing aims and objectives and in planning future activities. In particular, the Trustee onsiders how planned activities will contribute lo the aims and objectives set. Plans for the future The Twstee intends to continue providing grants in a similar way to the recent past whilst retaining flexibilty as to the timing and scale of grant making. Related parties The Corporate Trustee and the Investment Manager are both wholly owned subsidiaries of HSBC Holdings plc. In addition to the fees shown on page 6, as a result of the acquisition and disposal of investments, the charity pays transaction Charges to HSBC Bank pl¢. The charges are calculated on a sliding scale at a percentage of the transactions value plus VAT and are added to or deducted from the c051 of the investments or the disposal proceeds in accordance with UK standard accounting practice.
THE JOHN SLATER FOUNDATION REPORT OF THE TRUSTEE cont. FOR THE YEAR ENDED 5 APRIL 2022 Trustee's re$ponsibilities in relation to the financial statements The law applicable to charities in England and Wales requires the Trustee lo prepare financial statements for each financial year which give a true and fair view of the Charity's financial activities during the year and of it's financial position at the end of the year. In preparing those financial slalements, giving a true and faif view, the Trustee should follow best practice and.. select suitable accounting policies and then apply them consislenlly-, make judgements and estimates that are reasonable and prudent., state whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial stalemenls,. and prepare the financial statements on the going concern basis unless it is inapproptiate lo presume that the charty will continue in operation. The Truslees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity. This enables them to ascertain the financial p051tion of the charity and enables them lo ensure the financial slalements comply with the Charities Act 2011. the Charity (Accounts and Reports) 2008 Regulations and the provisions of the trust deed. The Trustee is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and delectr'on of fraud and other irregularities. Approved by the TNstee and signed on its behalf by.. HSB rust Co pany (UK} Limited Dale:
THE JOHN SLATER FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEE OF THE JOHN SLATER FOUNDATION I report to the Trustee on my examinatson of Ihe financial statements of The John Slater Foundation for the year ended 5 April 2022. which are sel out on pages 6 to 7. Responsibilities and basis of report As the Trustee of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 {'the 2011 Act'}. I report in respect of my examination of Ihe charity's financial statements carried out under section 145 of the 2011 Act and in carying out my examination I have followed all the applicable directions given by the Charity Commission under section 145151(bl of the 2011 Act. An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, l express no opinion as to whether the financial Statements present a 'true and fair view, and my report is lirniled to those specific matters set out in the independent examiner's statement. Independent Examiner's statement I have completed my examination. I confimi that no material matters have come to my attention in Connection with the examination giving me reasonable cause to believe that in any material respect-. accounting records were not kept in respe of the charty as required by section 130 of the 2011 Act", or 2. the financial 5tatemenls do not accord with those records- or 3. the financial slalemenls do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities {Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a 'true and fair view. which is not matter considered as part of an indepeftdent examination. I have no concerns and have come across no other matters in connection wsth the examination to which attention should be drawn in this report in order lo enable 3 proper understanding of the financial statements to be reached. Frances Millar ACA Chartered Accountant The Institute of Chartered Accountants in England and Wales On behalf of RSM UK Tax and Accounting Limited Chartered Accountants Highfield Court Tollgate Chandlers Ford Easlleigh Hampshire S053 3TY Date.. 27-Jan-2023
THE JOHN SL4TER FOUNDATION RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 5 APRIL 2022 Unrestricted funds Endownnt funds Total 2022 Total 2021 Recèlpts hvèstment in¢ome Other hcome 101,096 101,096 124.680 1,729 101,096 Investment sale pro¢eed$ Prcceeds from the sale of investments 101,096 126,409 4,280,819 4,280,819 3,365,860 Total receipts 101,0 4.280,819 4,381,915 3.492.289 Paywnts Cost of generating funds knvestmenl service charg8 47,415 47,415 32,360 Charitable activities Grants paid Other althaled costs 129,103 49.580 129.103 49,S80 121.846 19,750 Governancè costs bKlependenl examiner's fee 2,874 2.874 2.790 181,557 Investment purchases Payments for purchases of investments 47,415 228,9n 176,746 4,128.104 4.128.104 3.154,044 Total paYrynts 181.557 4,175.519 4.357,076 3,330,790 Nel receiplsllpaymentsl 180,4611 105,300 24.839 161,479 Transfers beeen funds 50,950 150.9501 Cash invested al 6 Wil 2021 58.419 67.822 126,241 {35.2381 Cash invested al 5 ri12022 28,908 122.172 151,080 128.241 These unaudited financial statements have been subjected lo independent examination. See report on page 5.
THE JOHN SLATER FOUNDATION STATEMENT OF ASSETS AND UABILITES AS AT S APRIL 2022 Unrestricted funds Endowment funds Total 2022 Total 2021 Investments UK equities UK fLxed interest securities Overseas fixed interest securities Overseas equ((ies and unrf( trusts Alternative investments Other trust assets Cash 196,898 889.212 1,924,268 1,607,787 83,236 196,898 889,212 1,924,268 1,607,787 83.236 450,771 1,983.865 2,249.775 35.196 28,908 122,172 151,080 126,241 Total assets 28,908 4.823,574 4.852.482 4.845,849 Liabilities Professional fees payable 3,015 3,015 2.875 Approved by the Trustee and aulhorised for issue on . 2o[ci12.£ -and signed on its behaff.. These unaudited financial statements have been subjected to independent examination. See report on page 5.
THE JOHN SLATER FOUNDATION APPENDIX 1 BREAKDOWN OF CHARITABLE GRANTS Numberof Amount Institutions Grants Adlington & District Community Centre Association for the Rights of Abondold Animals Blackpool Ladies Sick Poor Association Bury Grammar School Freshfields Animal Rescue H8fKJicapped Children's Action Group MancFEster High School For Girk Medailk TnLSt North West Anny Cadet Force NortCh & District Youth Centre People's Dispensary for Sick AnimaL8 Red Squirrel SuNival Trust Royal National Irtstitute of BI1 People Sacred Heart Church St Johns Church, Levern8 Tiggywinkjes Witdlife Trinity Hospice Verona Association West Cumbria Society For BliTr Walthew House West Coast Crash 7,050 78,683 4,700 12,000 2,000 2,000 12,000 11,750 2,350 2,QlOO 3,525 2,350 4,500 10,000 5,875 2.350 4.700 7.050 6,345 5,875 4,000 Retwned Grant- HarKlicapped Chiklren's Action GroLP (1) (2,000) 39 129,103