Mlss E F Rathbone Charltable Trust Also known as The Eleanor Rathbone Charitable Trust Charity Registration Number: 233241 REPORT AND ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2024
The Eleanor Ralhbone Charitable Trust Annual Report and Accounts.. Year ending 05 April 2024 Index Page Trustg9s' Rgport including Statgment of trustggs. responsibilitigs Auditors Report Statement of Financial Activities 10 Balanee Sheet 11-15 Notes to the Accounts Ilncludlng Ac¢ountlng Pollcles) 16-17 Appendlx- Grants Llst
The Eleanor Rathbone Charitable Trust Trustee5 Report.. Year ending 05 April 2024 Re rt of the Trustees for th ear ended 5 ril 2024 The TnJslBes present the Annual Report and Financial Statements for th8 y8ar ended 5th April 2024. Th8 finanual 5talemanls have been prepared in accordance with the accounting policies sel out in nole 1 to the accounts and comply with the charity's trust deed, the Charitie5 Act 2011 and "Accounting and Reporting by Charities.. Stalemanl of Recommended Practice applicable to charities preparing their accounts in aeeordane8 Wlth the Finaneial Rèporting Standard applieablè in the UK and Rèpublic of Irèland IFRS 102)" leff8ebve 1 January 20191. The actounls have dèparted from the Charits"6s IAeeounts and Reports) Regulations 2008 only lo the 8x18nl requir6d lo provid8 a tnje and fair vi8w. This dèpartur6 has involved following thé Slaiemenl of Recofflmèndèd Practicè for charilies applying FRS 102 rath8r than thè vèrsion of Ihè Slaleffl8nl of Recommended Practice which is referred lo in the Regulations but which has since been withdrawn. Fom81ion Slruclura Govemanca and Mana ament. The Elèanor Rathbone Charitabl6 Trust is a registered charity. numbèr 233241 and is c4)nslituled as an unincorporatèd trust. Its goveming body is the Trusteès of a Settlem6nl datèd 4th February 1947. When Miss Eleanor Ralhbone, Member of Parliament for the Combined Universities. died in January 1946, she left her residuary estate lo her nephew Or B.L. Rathbone with an expression of her wishes that was not legally binding. In 1947 Dr Ralhbone transferred approximately £50,000 to a new charity, the Eleanor Ralhbone Charilable Tnjsl." this sum provided ils initial expendable endowment, the income from which the truslees could make grants lo other charilies. Thanks lo wise investment. that expendable endowment stood 81 £12,582,370 (2023.. £12,570,682) at the end of this financial year. The charity is managed by a board of five trustees. The power lo appoint new Irusle8s is vested in the current truslees. New Iruslees are generally recommended by an existing Iruslee and are chosen for the particular skills which they can bring lo ils govemance. On appoinlmenl, new Iruslees have meetings with the chair of Trustees and with Ihe adminislralor, are given an introduction lo the work of the charity and provided with copy of the trust deed, recenl minutes of Trustees. meetings and the lalesl annual reFort and accounts. They are also given information about charity law and the role of a trustee. I Irusle8s glve of Ih8ir lime freely and no trustee r8muneralbn was in the year under réview. Oelai15 of Iruslee expenses are disclosed in Note 7 to th8 accounts. Trustees are required lo disclose all relevanl interests which might conflict with those of the charily and lo withdraw from decisions where a conflict ol interest might aris8. To support th8 coordination ol thè Charity s work, il has a consultancy agr68m6nl vAth Ms Liase van Aon lo undèrtake the Wofk of Adminislralor for tha charty. The Irusl8es meet three limes a year. Al those meetings. the Iruslees agree a broad strategy and areas of activity for the ch8ri1y including granlmaking, investrnenl, reserves and risk managemenl. They consider Ihe applic81ions for a grant received from front-line charits'es and agree the size of grant lif any) which should b8 awarded. Ob'eclives and Activities for the Public Benefit. The Eleanor Rathbone Charitable Trust is a grant-gfving charity, The income of the Irusl, nel of expenses, Is approximately £386,090 pef annum. The Iruslees alm lo fully distribute the income in the following 12 months, any under- or over-spend being taken Snto account in the following year. During the year. the Iruslees reviewed their distribution policy. They agreed the following areas of benefrt- to gNe not less than 60 /0 of Ihelr net income to organisations based in or serving Merseyside. up to 20 /0 of the nel income to charitles elsewhere in the UK. LIP lo 20°h of net income to UK registered charities working for th8 benefit of people in developing counlries. This policy was revised on 9th July 2021 to limit considerats.on of appeals lo Ihose benefiting 5ub-Saharan Africa, Bangladesh. Afghanistan and projects in Palestine or supportj.ng Palests"nian refug8es. Priority is given to organisab.ons which furth8r the needs of women and girts.. help those most in need; pioneer: and conlribule lo racial harmony.The Iruslees also support human rights. education; heallh and
The Eleanor Ralhbone Charitable Trust Trustees Report.. Year ending 05 April 2024 well-being.The trustees welcome the opportunity to support schemes which will help to gel projects started., andlor where a donation will make a major impacl.Neglected and unpopular causes. In addition, they give special consideration lo charities in which any of the Iruslees have a particular interest, knowledge or association,. and causes which the Iruslees believe that Eleanor Rathbone or her father William Ralhbone Vl would have had a special interest. The trust allocates a small part of its grants budget to organisations providing holidays for disadvantaged families in Merseyside. The Iruslees have considered the Charity Commission's guidance on Public Benefit under the Charities Act 2011 and consider that the requirements have been met. Achievements The trust continues lo concentrate its efforts on Merseyside where there are rising levels of deprivation,. this is expected lo increase as 8 result of continuing major cuts in public expenditure. Dullng the year, the trust gave 630/a of its grants by value lo charities benefiting people on Merseyside. During the year 150 grants were made, ranging from £1,000 - £5,000. Most grants were in the region of £1,000 - £5,000. One grant offer of £5,000 was withdrawn. The net total of grants was £372,400., of these, £34,500 remained unpresenled at the year-end. No. of grants made Valug of grants agreed /0 of Valug Merseyside National 68 229,400 610/. 24 66,500 18'/o International 53 69,500 190/0 Holidays Imerseysidel 7,000 150 372,400 Financial Slrale The Iruslees aim to maximise their grant giving consistent with.. Full expenditure of the annual income it receives from ils assets as outlined above. Preserving ils capital in real terms over the long term. The trustees wish to ensure that the objectives outlined above are achieved within acceptable risk. This implies the need for diversification of investment within the portfolio by including fixed interest stocks, UK shares and overseas shares. Whilst no restrictions are in place and all funds are available to meet the charity's objectives, the Iruslees have decided lo consider their investment portfolio to be 'expendable endowment. since they are not 8 fundraising charity and the portfolio represents their only source of income. As slated above, they therefore restrict annual expenditure lo the income arising in the year unless there are special circumstances in order to preserve the long-lerm viability of the charity. Mana emenl of Resources The charity s investment policy (which is reviewed annually) is lo secure by responsible investment, the maximum income that Can be achieved consistent with the preservation of capital in re81 terms over the long tem. Management of the portfolio is delegated on a discretionary basis to Rathbone Investment Management Ltd. Trustees review quarterly valuations of the investment portfolio against agreed indices. They meet the fund
The Eleanor Ralhbone Charitable Trust Trustees Report.. Year ending 05 April 2024 manager responsible for the portfolio at least once a year {normally lCe> and agree with him a target retum before agreeing a budget for the following year. The charity's capital is invested on stock markets,. the Iruslees have unrestricted powers and have full discretion over the investments. The Iruslees are satisfied that the charity's assets are available and adequate to fulfil its obligations. They are also satisfied that assets have been acquired and disposed of in accordance with the policy framework agreed with the fund manager. The Iruslees consider the performance of the portfolio lo have been satisfactory for the period under review. The assets of the Children's Rest School of Recovery were amalgamated with those of the Eleanor Rathbone Trust for investment purposes in April 2013. Both charities are governed by the same Trustees. The assets and income of the joint portfolio are apportioned as follows.. Eleanor Rathbone Trust 94.060/0 Children's Rest School of Recovery 5.940/0. Figures provided in the enclosed financial statements relate only lo the Eleanor Ralhbone Trust share of the assets and income, and expenditure relating only to the management and administration of Eleanor Rathbone Trust Charitable objects. Reserves The charity does not maintain reseNes and considers il unnecessary lo do so. Princi al Risks and Uncertainties The Iruslees have considered the major risks lo which the charity is exposed together with the systems established lo mitigate those risks. They maintain a risk log which is reviewed each year Imosl recently in November 20231 to confirm that it still covers all identified risks- they consider the systems lo be satisfactory.
The Eleanor Ralhbone Charitable Trust Trustees Report.. Year ending 05 April 2024 2024 Statement of Iruslees, res onsibilities The Iruslees are responsible for preparing the Trustees. Report and the accounts in accordance with applicable law and United Kingdom Accounting Slandards Iunited Kingdom Generally Accepted Accounting Practice). The law applicable lo charities in England and Wales requires the trustees lo prepare accounts for each financial year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these accounts, the trustees are required to.. select suitable accounting policies and then apply them consislenuy., observe the methods and principles in the Charities SORP., make judgements and eslimales that are reasonable and prudent., slate whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts,. and prepare the accounts on the going concem basis unless it is inappropriate lo presume that the charity will continue in operation. The Iruslees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy al any time the financial position of the charity and enable them lo ensure that the accounts comply with the Charities Act 2011, the Charity {Accounls and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and delects'on of fraud and other irregularities.
The Eleanor Rathbone Charitable Trust Trn5tee5 Report.. Year ending 05 April 2024 In CharSty No 233241 Trustees Andrew Ralhbone Jenny Ralhbone Lady Angela Morgan Mark Ralhbone Joan Bonenlant Administralor Liese van Alwon prtncipal Office 546 Wafflnglon Road. Rainhlll. Merseyside L35 4LZ Auditor Mil¢hell Charlesworth (Audill Limited. Stsites C. D. E & F. 14th Floor, The Plaza. Old Hall Street, Liverp)ol L3 9QJ Investment Manager Ralhbone Investment Managemenl Ltd., Port of Liverro)l Bullding, Pler Head. Liverpool L3 1NW Bankers Ralhbone Investment Management Lld. Port of LivefF4)ol Buildlng. Pief Head. Liverpool L3 1 NW Cooperatwe Bank PLC. PO Box 250. Skelmersdale WN8 6WT Approved by the Board of Trustees and sned on its behatr. D8le.' 04 Februa 202 Andrew R8lhL¥Jne Trustee
The Eleanor Rathbone Charitable Trust Independent Auditor's Report.. Year ended 05 April 2024 INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE ELEANOR RATHBONE CHARITABLE TRUST OpSnlon We have audited the financial statemen15 01 The Eleanor Rathbone Charitable Trust lthe'charity'l for the year ended 5 April 2024 which comprise the statement of financial activities, Ihe balance sheet and the notes to the financial slalemenis, induding a summary of signlficanl accounting policies. The financial reporting framework that has been applied in Iheir preparalion is applicable law and United Kingdom AOUntIng Standards. including Finanaal ReFo.n9 Standard 102 The Financial Repo.n9 Standard applicable in the UK and Republic of Ireland Iuniled Kingdom Generally Accepted Accounting Praclicel. In our opinion, Ihe flnancial staiemenls.. give a true and fair view of the state of the chariws affairs as al 5 April 2024 and of its incoming resource5 and applicats.on ol resources, for the year then ended: have been properfy prepare{1 in accordance with United Kingdom Genefally Accepted Accountsng Practice, and havo boen prepared in accordance ¥th tho requirgrrnls of Ihe CharilS9s A¢1 2011. Ba$18 for opinion We conducted our audit in accordance with Inlernalional Stsndards on Auditing IUKI IISAS (UK)) and applicable law. Our responsibilities under Ihose sland8rds a further described in Ihe AUdir.5 responsibilities fof th8 audi¢ of the accounts section of our report. We are indep8ndent of the charity in accofdance with Ihe ethical requirements that are relevant to our audit of the accounts in the UK. inclLhling the FRC'S Ethical Standard, and we have fulfilled our olher ethical responsibilities in accordan wlh these requirements. We believe that Ihe audit evidence we have obtained is sufficient and appropriate lo provide a basis lor our oplnion. Conclusi¢)ns rnlating to going nc0rn In 8udilin9 the financial stalemenls, we have concluded that the trusiees, use ofth8 going concm basis of ac£ountsng in the preparation ol the financial ststements is appropfiale. Based on Ihe work we have performed, we have not identified any material uncertainties relats.ng lo events or conditions thal. individually or collectively, may cast Significant doubt on the charity'5 ability lo continue a5 a 90ing conrn for a period of al least twelve months from when the financial slalement5 are authorised for issue. Our responsibilitie5 and the responsibiliues of Ihe tru$lees %lh respect lo going conom are described in the relevant Bections of this report. Other InforMaOn The trustees are responsible for the other information. The other information comprises the information inclLKJed in the annual report, other than the financial slalements and our auditor's report thereon. Our opinlon on the financlal slalemenls doe5 noi cover the other informats.on and we do rK)18xpress any form of assurance ¢ondush)n Ih8reon. In connection wrth our audil of the financial statement5. our responsibility Is to read Ihe other inlorTnalion and. in doing 50. COll5ider whether the other information Is materially inconsislenl wth the financial stalewnents or our knowledge obtained in the aLTrdil or othernvise appears to be materially misslaled. 11 we identify such malerial inconsistencies or 8PP8renl material misstalemenls. we a required lo determine whether there is 8 material misslalemenl in the rinancial $tements or a m81erial miss18lemenl ol the other information. 11. based on the work we have ptsrfomed. we condude that Ih8re is a material misstaltment of this other infomalion. wt are required to report that fact. We have nothing lo reFK)rt in this regard. Matters on whlch we are requlred to report by exceptlon We have nothing to report in raspecl ofthe following mallets in r8lalTron lo th8 Chadts"8s IAc¢ounts and Rèp)rtsl Regulation5 2008 wuire us lo report to you if, in our opinion.. the infom)alion given in the financial slalements is inconsislenl in any material respect with the trustees. report- or suffiuenl accounb'ng records have r)ot been kept- or the financial statements are not in agreemenl wih the accounling records.. or we have nol received all the infomiation and explanations we require for our audrt.
The Eleanor Ralhbone Charitable Trust Independent Auditor's Report.. Year ended 05 April 2024 Responsibilities of trustees As explained more fully in the statement of trustees. responsibilities, the trustees are responsible for the preparation ol the financial siatements and for being satisfied that they give a true and fair view, and for such internal control as the tnjslees delemiine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, rnatters related lo going concem and using Ihe going conrn basis of accounting unless the trustees either intend to aSe operations, or have no realistic altemative but to do so. Auditorf$ rgsponsibilitiès for Ihg audit of th8 financial statomènts We have béen appointèd as auditors under sèction 144 of th8 Charities Ad 2011 and rgport in accordance with the Act and relevant regulats'ons made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assuran, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instan5 of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above. to detect material misslalernenls in respect of irregularities. including fraud. The extent lo which our procedures are c4p8ble of dele¢ling irregularities, in¢luding fr8ud is detailed below. Tho extent to whlch the audlt was consld•r8d capabl• of dètoctlng Irregularltles Includlng fraud Our approach to identifying and assessing the risks of material misstatement in respect of irregularities. including fraud and non-compliance with laws and regulations, was as follows.. the engagement partner ensured that the engagement tearn collectively had the appropriate competen, capabilities, and skills lo identify or recognise non-corllpliance with applicable laws and regulations. we identified the laws and regulations applicable lo the company through discussions with trustees and other management. we focused on specific laws and regulations which we considered may have a direct rnaterial effect on the rinancial slalements or the operations of the charity, including the Charities Act 2011, data protection, anti- bribery, and health and safety legislation. we assessed the exlenl of compliance with the laws and regulations identified above through making enquiries of management and Inspecting legal correspondence., and identified laws and regulations were communicated within the audit team regularly and the team remained alert lo instances of non-compliance throughout the audit. We asse55ed the susceptibility of the company's financial statements to material misslalement, including obtaining an understanding of how fraud might occur, by.. making enquiries of management as lo where they considered there was sus¢eplibilily lo fraud. their knowledge of actual, suspected, and alleged fraud", and considering the internal ¢ontrols in place to mitigate risks of fraud and non-compliance with laws and regulations.
The Eleanor Ralhbone Charitable Trust Independent Auditor's Report.. Year ended 05 April 2024 To address the risk of fraud through management bia5 and override of contro15, we.. performed analytical procedure5 to identify any unusual or unexpected relationships., lesled journal entries lo identify unusual transactions., assessed whether judgements and assumptions made in determining the accounting eslimales were indicative of potential bias,. and investigated the rationale behind significant or unusual Iransaclions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to.. agreeing financial statement disclosures lo underfying supporting documentation., reading the minutes of meetings of those charged with governance., and enquiring of management as to actual and potents'al lits'gation and claims. There are inherent limitations in our audit pro¢edLJres described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the aLJdit procedures required to identify non-compliance with laws and regulalions to enquiry of the directors and other management and the inspection of regulatory and legal correspondence. if any. Material misstatements that arise due lo fraud can be harder lo detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities for the audit of the financial stalerllenls is located on the Financial Reporting Council's website al.. http'.Ilwww.frc.org.uklauditorsresponsibililies. This description forms part of our audilorfs report. Other matters Your attention is drawn lo the fact that the charity has prepargd financial stslgrnenls in a¢cordan¢g with 'Accounb'ng and Reporting by Charities.. Statement of Recommended Practice applicablè to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and RepLJblic of Ireland IFRS 1021" in preference to the A¢¢ounting and Reporting by Charities.. Statement of Re¢ommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. This has been done in order for the financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2016. Use of our report 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. Our audit work has been undertaken so that we might stste to the charity's trustees those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do nol accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. CkoJ%cfith) knMLtod 04 February 2025 Mitchell Charfesworth (Audit) Limited Chartered Accountants Statutory Auditor Suites C, D, E & F, 14° Floor The Plaza Old Hall Str88t Liverpool L3 9QJ
The Eleanor Ralhbone Charitable Trust Statement of Financial Activities.. Year ended 05 April 2024 All funds unrestrlcted Total 2024 All funds unrestrlcted Total 2023 Notes Income from: Incoming resources from generated funds Investment income and interest 386,09) 393,803 other incoming resources Total Incomlng resources 386,090 393,803 Expenditure on: Raising funds 46,907 46,635 Charitable aclivites 399,183 417,421 Total resources expended 446,090 464,056 Nel gainsllosses on investments 112,971 539,781 Net movement In funds 52,971 1610,0341 Tot81 funds brought forward as al 06 April 2023 12,570,578 13,180,612 Total funds carried forward as at 05 April 2024 12 623 549 12 570 578
The Eleanor Rathbone Charitable Trusl Balance Sheet. As al 05 A ril 2024 All funds t•nrostrlcted Total 2024 All funds unr•strlcted Total 2023 Notes Flxed Assets Investments at Market Value 10 12.582,370 12,572,682 Total Flxed Ass•ts 12 582 370 12,572 682 Current As¥ots Total Cash al Bank and on Deposit 111.648 Total Curr•nt Assots Llabllltlas: amounts falling due withln ong yèar 13 70.470 57,678 Nat Currant {Uabllltl•81 Assots 41.178 2.104 Total assets leys current liabililies 12.623.548 12,570,578 Total Unrn8trlcted Fund8 at 05 Aprll 2024 12,623 548 12 570578 Approved by the Board of Trustees and stgned on its beha. Dale- 04 Februa 2025 Andrew Rathbone Tfuslee 10
The Eleanor Ralhbone Charitable Trust Notes to the Accounts-. Year ending 05 April 2024 1. Accounting Policies Charity information The Eleanor Rathbone Charitable Trust is a charity governed by ils Settlement deed dated 4 February 1947 and registered in England and Wales. The principal office is 546 Warringlon Road, Rainhill, Merseyside, L35 4LZ. A¢¢ounting convention These accounts have been prepared in accordance with the charity's governing document, the Charities Act 2011 and °AccoLJnting and Reporting by Charities.. Slalemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" leffeclive 1 January 20191. The charity is a Public Benefit Entity as defined by FRS 102. The accounts have departed from the Charities IAccounts and Reports) Regulations 2008 only to the extent reqUId to provide a true and fair view. This departure has involved following the Statement of Recomrnended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The accounts are prepared in sterfing. which is the fLJnclional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared under the historical cost convention. modified lo include certain financial instruments at fair value. The principal accounting policies adopted are sel out below. The Charity has taken advantage of the provisions in the SORP for Ch8rities applying FRS 102 Update Bulletin 1 not to prepare a Slalement of Cash Flows. Going Concern Al the time of approving the 8ccounls, the trustees have a reasonable expectation that the charity has adequate resources to continue in oper8tional existence for the foreseeable future. Thus the Iruslees continue lo adopt the going concern basis of accounting in preparing the accounts. Charitable funds General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Income Income is recognised when actually received or when il is due to the Charity as al the Balance Sheet date. Dividend income is recorded gross and includes lax deducted only when il is repayable to the Charity. Expendlture Expenditure is recognised on an accruals basis, being included when the liability has been incurred as al the Balance Sheet date. Grants are recognised on an accruals basis, being included when the Trustees have resolved to make such donations by the Balance Sheet date. Amounts included within governance costs are those incurred in relation lo the general running of the Charity and support il requires. They are not related lo the direct management function. G0Veman costs are recognised on an accruals basis, being included when the liability has been incurred as at the Balance Sheet dale. 11
The Eleanor Ralhbone Charitable Trust Notes to the Accounts-. Year ending 05 April 2024 Valuation of Investments Investments held in the fund are included at their market value as follows.. Listed securities are valued al the mid market value ruling at the balance sheet date. Listed securities held in foreign currencies have been valued at the mid market value and translated into their sterling equivalents al the rates ruling at the balance sheet dale. Gilts are v81ued at the mid market value ruling at the balance sheet date and include interest which has accrued up to that dale. Realised l Unreali5ed Gains and Losses Realised gains and losses on investments are calculated a5 the difference belween sales proceeds and their market value al the start of the year, or their subsequent cost, and are charged or erediled to the stslemenl of financial activities in the year of disposal. Unrealised gains and losses represent the movement in market values during the year and are credited or charged lo the statement of financial activities based on the market value al the year end. Cash and Cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-lerm liquid investments with original maturities of three months or less. Financlal Instruments The charity has elected lo apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 'Olher Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the nel amounts presented in the financial slalements, when there is a legally enforceable right lo sel off the recognised amounts and there is an intention to settle on a net basis or lo realise the asset and settle the liability simultaneously. Baslc flnanclal assets Basic financial assets, which include debtors and cash and bank balances, are initially measured al transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement conslilules a financing Iransaclion, where the transaction is measured al the present value of the future receipts discounted al a martet rale of interest. Financial assets classified as receivable within one year are not amortised. Basic flnanclal liabilities Basic financial liabilities. including creditors and bank loans are initially recognised at transaction price unless the arrangement conslilules a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried al amortised cost, using the effective interest rate method. Trade creditors are obligations lo pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially al transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of fiTnancial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. Taxation The charity benefits from various exemptions from laxalion afforded by lax legislation and is not liable lo corpomtion tax on income or gains f811ing within those exemptions. The charity is not able lo recover Value Added Tax. Expenditure is recorded in the accounts inclusive of VAT. 12
The Eleanor Ralhbone Charitable Trust Notes to the Accounts= Year ending 05 April 2024 Critical accounting estimates and judgements In the application of the charity's accounting policies, the Iruslees are required lo make judgements, eslimales and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The eslimales and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The eslimales and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting eslimales are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Apportionment of investments and portfolion incomg The assets of the Children's Rest School of Recovery were amalgamated with those of the Eleanor Ralhbone Trust for investment purposes in April 2013. Both charities are governed by the same Trustees. In preparing the accounts the assets and income of the joint portfolio are apportioned as follows.. Eleanor Ralhbone Trust 94.060/. Children's Rest School of Recovery 5.94 %. Figures provided in the enclosed financial statements relate only to the Eleanor Rathbone TrLJSt share of the assets and income, and expenditure relating only lo the management and administration of Eleanor Ralhbone Trust Charitable objeels. 3. Investment Incomg 2024 2023 Dividend Income and Interest Other investment income Ralhbone Investment Management Ltd 383,570 390,802 718 2,283 393,803 2,520 386,090 4. Raising funds 2024 2023 Investment management fees 46,907 46,907 46,635 46,635 5. Charitable Actlvlties 2024 2023 Grants Merseyside National International Holidays Total Grants Support costs {note 61 Govornanco Costs (notg 7) 229,400 66,500 69,500 7,000 372,400 20,913 5,870 399,183 235,900 72,000 71,500 12,800 392,200 19,140 6.081 417.421 Grants have been classified according to their primary purpose. It should be noted however that some grants may also include elements of another classification. A breakdown of the grants is shown in the appendix on pages 16 and 17 of the accounts. 13
The Eleanor Ralhbone Charitable Trust Notes to the Accounts= Year ending 05 April 2024 6. Support Costs related to grant making 2024 2023 Administration fee Administrators expenses 20,486 427 20,913 18,624 516 19.140 Support costs are allocated to charitable aclivilies. 7. Governance Costs 2024 2023 Trustees. travel expenses Accountancy Fee Auditoes Fee 86 1,677 4,284 1,678 4,158 34 5,870 Bank charges 6.081 No Trustees received remuneration during the year. The Administrator is self-employed and therefore the deduction of her salary from the Charity is paid gross. Governance costs are allocated lo charitable activities. 8. Auditors Remuneration 2024 2023 4,158 4,284 9. Net Ilossesllgains on investments 2024 2023 Revaluation of investments Gainsl{loss} on sale of investments 1178,6141 291,585 112.971 1509,459} 30,322 539.781 10. Investments 2024 2023 Market value al 06 April 2023 Purchases at cost Sales proceeds Realised Gains Unrealised Gains Market value at 05 AprS12024 12,572,682 1,000,886 11,104,168) 291,585 178,614 12.582 371 13,138,963 638,664 {665,1641 (30,322} 509,459 12.572.682 UK 7,129,718 5,452.652 12.582 370 7,369,844 5,202,838 12.572.682 Overseas Market Value al 5 April 2024 UK Overseas Historical cost at 5 April 2023 3,974,455 2,888,835 6.863,290 3,780,559 2,580,321 6.360,880 14
The Eleanor Ralhbone Charitable Trust Notes to the Accounts= Year ending 05 April 2024 The investment portfolio is split between The Eleanor Ralhbone Charitable Trust and Children's Rest School of Recovery. Following further conlribution lo the investment porttolio allribulable lo The Eleanor Ralhbone Charitable Trust only. the perntage split between the two charities has moved in favour of The Eleanor Ralhbone Charitable Trust and is now sitting al 94.06 /015.94°A respectively12023'. 93.8Yo 16.2°kn1. 11. Flnanclal Instruments 2024 2023 Carrylng amounts of flnanclal assets Debt instruments measUd at amortised cost Equity instruments measured at fair value 111,648 12,582,370 55,514 12,572,682 Carrying amount of financial liabilities Measured at amortised costs 70,470 57,618 12. Current Assets 2024 2023 Cash al bank and on deposit (Cooperative Account} Cash al bank and on deposit (Ralhbone Accounts) 6,188 105,460 111,648 6.222 49,292 55,514 13. Current Liabilities 2024 2023 Auditorfs fees Accounting Fees Unpresenled grants Children's Rest School of Recovery 5,238 1,678 34,500 29.054 70,470 3,960 1,678 25,000 26,980 57,618 14. Related parties The trustees are considered to be the key management of the charity. Their expenses are disclosed in note 7 of the accounts. Included in creditors is a balance of £29,05412023.' £26,980) owed lo Children's Rest School of Recovery (Charity no.. 5260831. This charity has the same Iruslees as The Eleanor Ralhbone Charitable Trust and owns 5.940/0 of the investment portfolio. All figures relating lo this charity have been excluded from these accounts. 15
The Eleanor R8thbone Charitable Trust Notes lo the Accounts.. Year ending 05 April 2024 APPENDIX During the year 2023-24 grants were awarded to the following organisalions.. MERSEYSIDE GRANTS AGE CONCERN LIVERPOOL & SEFTON BIG CONDO TRAINING ACADEMY CIC BIPOLAR UK BIRKENHEAD YMCA BREAKING BARRIERS BRIGHT PARK BRITISH LIVER TRUST CAPOEIRA FOR ALL CARITAS DIOCESE OF SHREWSBURY CELLS PROJEcr CHANGING FACES CHRYSAILS CENTRE FOR CHANGE COMPASS COUNSELLING SERVICES DAISY INCLUSIVE UK DEMENTIA TOGETHER WIRRAL END FURNITURE POVERTY EVOLVE TACKLING SUBSTANCE ABUSE FALLEN ANGELS DANCE THEATRE NW FERRIES FAMILY GROUPS LTD IN YOUR SHOES INVOLVE NORTHWEST KINDFULNESS COFFEE CLUB KINDRED MINDS LCVS FRIENDS OFTHE FREEDOM PROGRAMME LIVERPOOL CARE LEAVERS LIVERPOOL CARES MERSEY COUNSELLING MIGRANTWORKERS SEFTON COMMUNITY MUSIC IN HOSPITALS AND CARE NATIONAL MUSEUMS LIVERPOOL NATIONAL PLAYING FIELDS NEWTON LE WILLOWS FAMILY COMMUNITY CENTRE PAKISTAN ASSOCIATION LIVERPOOL PARENTING 2000 PARK OPTIONS LTD PCC OF STGEORGE HUYTON PEOPLE FIRST (SELF ADVOCACY) PRISONER'5 EDUCATION TRUST pss REACH MENS CENTRE ROTUNDA ROYAL LIVERPOOL PHILHARMONIC SOCI RULE OF THREE ARTS SAILORS FAMILIES SCHOOLREADERS SEFTON CVS SEFTON WOMEN'S & CHILDREN'S AID SHREWSBURY HOUSE SOUTH WEST LANCS NETWORK SPORTS ALIVE NORTHWEST ST MARKS CHURCH HAYDOCK ST MARY'S MILLENNIUM CENTRE ST PAUL'S CHURCH HAThON HILL SWAN WOMEN'S CENTRE TEAPOT TRUST THE HOLISTIC CANCER CENTRE LTD THEATRE IN THE ROUGH TMESIS THEATRE TOGETHER LIVERPOOL TOMORROW'S WOMEN WIRRAL TOOLS FOR INNER PEACE TRIPLE C ILIVERPOOLI VENUS WHIZZ-KIDZ WIRRALCHANGE YKIDS TALK THE TALK HOLIDAY FUND GRANTS CAMPUS CHILDREN'S HOLIDAYS EDGE HILL YOUTH & COMMUNITY CENTRE GO BEYOND SEFfoN CHILDREN'S TRUST THE LAKE OISTRICT CALVERT TRUST NATIONALGRANTS BRITISH SHALOM SALAAM TRUST CFAB CHANGING TUNES CHILD AUTISM UK CONTACT ERIC FINE CELL WORK FULL FACT GINGERBREAD HELEN BAMBER FOUNDATION HOME FOR GOOD ICE AND FIRE THEATRE COMPANY LTD MUSLIM WOMEN UK PRISON ADVICE AND CARE TRUST PRISONERS ABROAD PRISONERS, ADVICE SERVICE PRISONERS OF CONSCIENCE APPEAL FUND RIGHT TO REMAIN THE FEMICIDE CENSUS TOGETHER NOW WELSH DANCETHEATRE WOMEN'SAID FEDERATION OF ENGLAND WORKING FAMILIES WAGING PEACE INTERNATIONAL GRANTS ABLE CHILD AFRICA ADAMI PROJECT AFGHANISTAN & CENTRAL A51AN ASSOC AFRICAN REVIVAL ANTI-SLAVERY INTERNATIONAL ASECONDCHANCE AWAMU A2UKO 1,000 4.000 1,500 2,000 3,000 2,000 5.000 3.000 4,000 5,000 4,000 1.000 3,000 3,000 3,000 5.000 4,000 2,000 1,400 s.000 4,500 2,000 4,000 3,000 4.000 3.000 4,000 4,000 s.000 3.500 4,900 5,000 4,000 4.000 1.500 3,500 3,500 3,000 7.500 4,000 2,500 5,000 4.500 3.000 2,000 3,000 2,000 1,500 1,500 1,000 1,000 2.000 2,000 3,000 3,000 2.000 3.000 2,000 2,000 3,000 2.000 5,000 2,500 2,000 3,000 3.000 2,000 3,000 3,000 3.000 3.000 3,000 3,000 3,000 3.000 3,000 3,000 4,000 3,000 2,500 s.000 3.000 3,000 6,000 3,000 3.000 5,000 3,600 1,500 2,000 5.000 4,000 4,000 3,000 4,000 3.000 2,000 1,000 1,000 2.000 1,000 1,000 1,000 1.000 1,000 16
The Eleanor Rathbone Charitable Trust Notes lo the Accounts.. Year ending 05 April 2024 CATARACTS ARE CURABLE CHANGING LIVES MALAWI CHILD OF HOPE CLASSROOMS FOR MALAWI COMFORT INTERNATIONAL CHASE AFRICA CORD GL08AL ECO BRIXS UK EMERGENCY UK FRIENDS OF KIPKELION FUTURE ACADEMY GBV UGANDA PROJECTS GGA UK GOODWILL FOR AFRICA HAMLIN FISTULA UK HANDS AROUNDTHE WORLD HELLO WORLD JIGSAW CHARITY UK KIDS CLUB KAMPALA LAUGHTER AFRICA LEARNING FOR LIFE UK LET THE CHILDREN HEAR MALAWI MUSIC FUND MINORITY RIGHTS GROUP MISSION MOZAMBIQUE TRUST NEW WAYS PARTNER AID INTERNATIONAL IUKI PARTNERS FOR CHANGE ETHIOPIA PROFESSORS WITHOUT BORDERS PROSPECT BURMA RENEWABLE WORLD RHINOARKUK RLABS UK SCHOLARSHIPS FOR STREET KIDS SIGNPOST INTERNATIONAL SOUTHERN AFRICA RESOURCE CENTRE SREEPUR VILLAGE STARFISH MALAWI STREET CHILDREN IRINGA TEHILA TRUST TEMWA UK THE FREE SHOP THE HUMMINGBIRD INITIATIVE TRIO UGANDA WONDER FOUNDATION ZAMBIA ORPHANS AID UK 1.000 1.000 1,000 1,000 1,000 2,000 1.000 1,000 2,000 1,000 2.000 1,000 1,000 1,000 1,000 1.000 2.000 1,000 1,000 2.000 1.000 1,000 1,000 1,000 1,000 3.000 2,000 1,000 1,000 1.000 1.000 2,000 2,000 1,000 1,000 1.000 2,000 2,000 2,000 1.000 2,000 1,000 2,000 1,500 1.000