**The R V Coleman Trust Charity Number 237708** **Trustees report and financial statements For the year ended 31 December 2020** ## **The R V Coleman Trust** ## **Contents** **For the year ended 31 December 2020** **Page** Legal and administrative details Report of the Trustees 2-3 Independent Examiner’s Report Statement of financial activities Balance sheet Statement of Accounting Policies 7 - 8 Notes to the accounts 9 - 11 **The R V Coleman Trust** **1** ## **Reference and administrative details For the year ended 31 December 2020** The R V Coleman Trust is a registered charity established by the Charity Commission Scheme dated 4 December 2000. Charity Registration number 237708. ## **Trustees** ## **Year of Retirement** Nominative: Councillor Mrs P.M Brivio 2021 Co-opted B Lawrence Esq (Chairman) 2025 G Lymer Esq (appointed 22/10/20) Mrs M M R Pain Dr M J Parks 2021 Mrs R R Wanstall J T Woodland Esq **Clerk to the Trustees** : Mrs G Farthing **Registered Address:-** 3 Church Farm Mews The Street East Langdon Dover Kent CT15 5FE **Accountants:-** Kreston Reeves LLP Chartered Accountants 37 St Margaret’s Street Canterbury Kent CT1 2TU **Bankers:-** National Westminster Bank plc 25 Market Square Dover Kent CT16 1NQ **Stockbrokers:-** Rathbone Brothers Plc 8 Finsbury Circus London EC2M 7AZ **The R V Coleman Trust** **2** ## **Trustees’ report** ## **For the year ended 31 December 2020** The Trustees present their annual report together with the financial statements of The R V Coleman Trust for the financial year from 1 January 2020 to 31 December 2020. ## **Objectives and activities** The main object of the Charity, as set out in the governing document, is the relieving, in cases of need, persons resident in Dover and the immediate neighbourhood thereof, who are sick, convalescent, disabled or infirm by providing or paying for items, services or facilities which are calculated to alleviate the suffering or assist the recovery of such persons in such cases but are not readily available to them from other sources. The Trustees may plan for such services or facilities to be provided for that purpose by other institutions or organisations in return for donations or subscriptions out of income of the Charity. The policy of the Trustees is to actively seek potential beneficiaries, largely by regular contact with local general medical practitioners. The Trustees have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. ## **Achievements and Performance** ## **a. Review of activities** The total number of cases in which assistance was provided, where no assistance was available from other sources, was 43 at a total cost of £32,893. The Trustees consider that the overall result for the year has been most satisfactory, the income and accumulated funds being adequate to meet the requirements of the charitable objects and costs of administration etc. The reduced activity in the year was wholly as a result of reduced demand for respite care following the Covid-19 virus outbreak. ## **b. Investment policy and performance** Investment performance is considered satisfactory and in line with the Trustees’ investment objectives and prevailing financial conditions. The investment policy does not permit investment in armaments, tobacco or alcohol. ## **Financial review** ## **a. Going concern** After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. Whilst the impact of the COVID-19 pandemic has been assessed by the Trustees, so far as is reasonably possible, due to its unprecedented impact on the worldwide economy it is difficult to evaluate with any certainty the potential outcomes on the Charity's future activities. However, taking into consideration the Charity's level of reserves, the Trustees believe that the Charity will be able to continue in operational existence for the foreseeable future. ## **b. Results for the year** The overall net value of the Trust funds amounted to £1,406,854 on 31 December 2020. The total income generated by the assets of the Trust amounted to £63,650. Of this £37,598 was expended on charitable activities, £3,756 on support costs and £7,404 on investment management costs. Net losses on investments were £51,007. In addition, the trust received an unrestricted bequest of £10,000. Th? R V Coleman Trust Trustees, report {cgntinued For the year ended 31 December 2020 ReseTVeS poII¢y The unre8trlct8d reserves ofth8 TTUSI, wrÈsentiTr3 ￿jMuraIed inwme not expended forthe pU￿OseS of the Trus(8S atthe yearond amounted to £158,612 these arefreely avallable to meetthefutiwe requiremènts of the Tntst The pthy Df the Trustees 15 to awn to relain enough reservesto meet anticipaled operating costsft>r a peFKJd of sry months and to allow any aruwal surpluses of income over exFendItU￿ to Imulateto meet any ￿t￿re reqthrements of the Tru5fs obiecb Structure, Gov¢rnanceand IAlarAg*M•nt The Ch￿lty is govemed by the Ch￿tlY corrKriS￿ Stheme dated4 D￿ther2000. The *ppob)bn*rt of Trustees is govemed by the Clwrvs Ctinslitulion. The TA￿tee5 are authorised lo appoint newTTUStees to fill vacancies aiising through the res*Jnation or tleath elan existing Trustee. Rer¥uNrr*ntand appointment of newTn￿tÉes 1$ by invilalton based on per80nal know]edge of ￿ appointee. The nature of the Charity does rwjt require that 8ny indudion and trainiw wcyedures forTrustees ar& eonsidèred netsssary. The day lo day adminislrab'on of the charitable obieds undettaken by thewelfare Officer, Mrs Barbara Godfrey and after hèr retirern￿ by hersuc¢ew M(5 JIS S￿ie￿t foJlv*w¥J guidelwies eslabfBh8d by tha Trustees. sk management TheTrustees have eonsldered the n*ior ii5ks to wtiK* the C1￿￿Y is eX￿)Sed aTrJ ha￿ developed po1￿leS and Procedures to manage and mitsgatetheireffe¢ts. Plans for Future Perlods The TTusleeswill po&¥ ofactivdy seekfftg benEfKirn and ¥￿1 aim to match nual income and expendiiwetothe bestofth*raWy. Trustees r8sponsibilities statement The Trustees are r&sponsiblè for pwaiiThJ the Tnthes. reportand the ffftmal statemèrts Dl acuydanr* with applicable law and United Kingdom A￿0￿{¥0 Slandards {Urited I￿n￿j0M General￿ AccÈpted A¢¢ounting Pr￿1[Cel. law applicable to chartties fhe T￿￿eS to prepare frjanryal statements for each fnancial yearwhich require a true and fairview oflhe affairsof the ChaTity and of the income and application of resourr*s. incbjthng the iwjmg and eyperbjibxe ofthe Charity forthat perwyj. In PT2p￿1￿J thesefinanolal stalernent4 fhe Trustees are required to: sele(# ¥uifable acoiunting and ti￿n atvythem (*ns151enlty. obs¢nfe the methods and princIp￿S #ithe Ch￿lIeS SORP. makejudgements and aco)wts estimates thal are reasonth and wudwL prepare thÈ finar￿la7 staterrEnts on the g01r￿ ￿￿cern basi8 untess It Is Inapprryiate to PTesumg Ihat the Charitywill cuntinue in operatio The Trustees are Tespon*knle for keep￿￿ adewate accountiro reo)Td5 that arg enwgh to show and explain fhg Chatiys transactions and d¢thsewrth reasonablè accw at arty15me the finantial posiaon ofthe Charity. They are also responsible for safeguar(INJ the assets of the ClwAy and fortsknng reasonable steps forthè prèVÉn￿n and detection of trauLI and other rreguiariti*. Approval This report was approvgj by Tntstèes onL4y 8igned on Itw ￿ha￿ty. B LavKence Chairnian **4** ## **Independent Examiner’s Report to the Trustees of The R V Coleman Trust For the year ended 31 December 2020** I report to the Charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2020, which are set out on pages 5 to 11. 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 Charity’s Trustees 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: 1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or 2. the accounts do not accord with those records. 3. 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. ## **J Williamson BSc (Hons) FCA Kreston Reeves LLP** 37 St Margaret’s Street Canterbury Kent CT1 2TU **The R V Coleman Trust** **5** ## **Statement of financial activities For the year ended 31 December 2020** |**Unrestricted**
**Note**
**Fund**
**£**
**Income from**
Investments
1
**1,907**
Donations
**10,000**
Bank compensation
**100**
**Total Income**
**12,007**
**Expenditure on**
Investment management costs
2
**528**
Expenditure on Charitable activities
3
**3,756**
**Total expenditure**
**4,284**
**Net movement in funds before investment gains/(losses)**
**7,723**
Net gains/(losses) on investment assets
7
**846**
**Net movement in funds for the year**
**8,569**
Transfers between funds
**24,177**
**Net movement in funds**
**32,746**
**Reconciliation of funds**
Total funds brought forward
**125,866**
Net movement in funds
**32,746**
**Total funds carried forward**
**158,612**|**Permanent**
**Endowment**
**Fund**
**£**
**61,643**
**-**
**-**
**61,643**
**6,876**
**37,598**
**44,474**
**17,169**
**(51,853)**
**(34,684)**
**(24,177)**
**(58,861)**
**1,307,103**
**(58,861)**
**1,248,242**|**Total**
**Funds**
**2020**
**£**
**63,550**
**10,000**
**100**
**73,650**
**7,404**
**41,354**
**48,758**
**24,892**
**(51,007)**
**(26,115)**
**-**
**(26,115)**
**1,432,969**
**(26,115)**
**1,406,854**|Total
Funds
2019
£
73,675
220
-
**73,895**
8,137
66,140
74,277
**(382)**
102,936
102,554
-
102,554
1,330,415
102,554
1,432,969| |---|---|---|---| The notes on pages 7 to 11 form part of these financial statements. The R V Coleman Tft￿t Balane• Sheet As at 31 DeC•m￿r 2020 Total Fund5 2020 Totsl Funds 2019 Fund FWMI Flxad •ss•ts Investrnent propety Investments 435.0( 813,242 435.IMIO 877.551 435.0 926,071 Totsl Ilxed assets 1.248.242 1.312.551 1.361.071 Current assets Debtors Cash at bank 79 98.405 299 77.￿3 98.405 Total CUfr•nt ass 98.484 77,362 Llabilltkn5 Creditors." AJnounts faNirrfJ due Vlithin one year 4.181 4,181 94.303 91303 71.898 N•t assets 158.612 1.248242 1.406.854 I,432,￿9 Total charty lunds 10 1S8.612 1.248.242 1.406,854 1,432,969 The notes on pages 7 to 11 fomi part of these financial stalements. Approved by the Trustees onL H4YSii and signetj on their behatt by. Lawrence TDJStee **The R V Coleman Trust** **7** ## **Accounting policies** ## **For the year ended 31 December 2020** ## **General information** The R V Coleman Trust is an unincorporated charity operating in England and Wales. The address of the registered office is 3 Church Farm Mews, The Street, East Langdon, Dover, CT15 5FE. Details of the principal activities are included in the Trustees’ Report. ## **Basis of preparation of financial statements** The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Charities SORP (FRS102) – 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The Trust constitutes a public benefit entity as defined by FRS 102. ## **Going concern** The Trustees consider whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements. ## **Income and expenditure** Income arising from the Permanent Endowment Fund is applied primarily in meeting the objects of the Trust, and any surplus is available to supplement income arising from the Unrestricted Fund to meet expenditure on management and administration which includes all expenditure not directly related to the charitable activity. All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably. Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. **The R V Coleman Trust** **8** ## **Accounting policies (continued) For the year ended 31 December 2020** ## **Freehold Investment Property** The property is leased out to an independent third party under a full repairing lease, and the Statement of Recommended Practice for charity accounts requires a formal valuation to be carried out at least every five years. In the light of this, the Trustees consider that the life of the freehold property and its residual value is such that its depreciation is not significant. ## **Investments** Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities. ## **Debtors** Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount repaid net of any trade discounts due. ## **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. ## **Liabilities and provisions** 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. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost. ## **Financial instruments** The Charity only has financial assets and financial liabilities of a kind that they are qualified as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. ## **Fund accounting** 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. The permanent endowment fund is comprised of the value of the Charity’s investment property and listed investments, with the income arising from this fund being applied to meet the objects of the Trust. **The R V Coleman Trust** **9** ## **Notes to the financial statements For the year ended 31 December 2020** ## **1 Income from Investments** |**1 Income from Investments**
**Permanent**
**Unrestricted**
**Endowment**
**Fund**
**Fund**
**£**
**£**
Rent
**-**
**34,250**
Listed securities
**1,834**
**27,393**
Cash investments
**73**
**-**
**1,907**
**61,643**
Total 2019
2,527
71,148
**2 Investment management costs**
**Permanent**
**Unrestricted**
**Endowment**
**Fund**
**Fund**
**£**
**£**
Stockbrokers' Fees
**528**
**6,876**
**528**
**6,876**
Total 2019
489
7,648
**3 Charitable activities**
**Permanent**
**Unrestricted**
**Endowment**
**Fund**
**Fund**
**£**
**£**
Payments made for beneficiaries less contributions received
**-**
**32,893**
Welfare officer
**-**
**4,516**
Printing, postage, stationery etc
**-**
**189**
Support costs (see note 4)
**3,756**
**-**
**3,756**
**37,598**
Total 2019
3,727
62,413
**4 Support costs**
Clerk
Independent examiners fees
Insurance|**2020**
**Total**
**£**
**34,250**
**29,227**
**73**
**63,550**
73,675
**2020**
**Total**
**£**
**7,404**
**7,404**
8,137
**2020**
**Total**
**£**
**32,893**
**4,516**
**189**
**3,756**
**41,354**
66,140
**2020**
**Total**
**£**
**2,879**
**654**
**223**
**3,756**|2019
Total
£
34,250
39,296
129
73,675
2019
Total
£
8,137
8,137
2019
Total
£
57,542
4,822
49
3,727
66,140
2019
Total
£
2,880
624
223
3,727| |---|---|---| **The R V Coleman Trust** **10** ## **Notes to the financial statements For the year ended 31 December 2020** ## **5 Trustees Remuneration** No remuneration was paid to the Trustees during the year (2019: NIL) and no expenses were reimbursed to them (2019: NIL). ## **6 Investment property** Freehold land and buildings: |Valuation at 1 January 2020 and 31 December 2020|**£**
435,000| |---|---| The freehold land and buildings are leased to South Kent Community Health Care National Health Service Trust on a three month notice basis. The valuation was made on 31 March 2017 by Caxtons, Chartered Surveyors on the basis of current open market value of the freehold interest subject to the lease. They are not an employee or Trustee of the charity. The Trustees feel that there has been no significant movement since the last formal valuation on 31 March 2017. ## **7 Fixed asset investments** |**Unrestricted**
**Fund**
**£**
**53,968**
Additions at cost
**15,127**
Disposals at cost
**(5,632)**
Investment gains/(losses) in year
**846**
Market value at 31 December 2020
**64,309**
Book value at 1 January 2020
**52,511**
Book value at 31 December 2020
**61,976**|**Permanent**
**Endowment**
**Fund**
**£**
**872,103**
**142,347**
**(149,355)**
**(51,853)**
**813,242**
**726,430**
**699,245**|**2020**
**Total**
**£**
**926,071**
**157,474**
**(154,987)**
**(51,007)**
**877,551**
**778,941**
**761,221**|2019
Total
£
831,058
79747
(87,670)
102,936
926,071
774,599
778,941| |---|---|---|---| ## Note: Investment gains/(losses) in the year include both realised and unrealised gains/ (losses) in the year. **The R V Coleman Trust** **11** ## **Notes to the accounts For the year ended 31 December 2020** |**8 Debtors**
Other debtors
**9 Creditors: Amounts falling due within one year**
Other creditors
**10 Funds**|**2020**
£
**79**
**2020**
**£**
**4,181**|2019
£
299
2019
£
5,464| |---|---|---| |Permanent Endowment Fund
Unrestricted Fund|**Brought**
**Forward**
1,307,103
125,866
1,432,969|**Income**
61,643
12,007
73,650|**Expenditure**
(44,474)
(4,284)
(48,758)|**Transfers**
**In/out**
(24,177)
24,177
-|**Gains/**
**(Losses)**
(51,853)
846
(51,007)|**Carried**
**Forward**
1,248,242
158,612
1,406,854| |---|---|---|---|---|---|---| The Unrestricted Fund represents accumulations of income which are available to be applied for any of the purposes for which the fund was established. The Permanent Endowment Fund represents the Capital Assets held by the Trustees at the date of the constitution of the scheme together with subsequently realised and unrealised gains and losses. The income from the fund is available to meet payments to beneficiaries together with the cost of administration. |**11 Analysis of net assets between funds**
Tangible fixed assets
Investments
Current assets
Creditors due within one year|**Unrestricted**
**Fund**
**£**
**-**
**64,309**
**98,484**
**(4,181)**
**158,612**|**Permanent**
**Endowment**
**Fund**
**£**
**435,000**
**813,242**
**-**
**-**
**1,248,242**|**2020**
**Total**
**£**
**435,000**
**877,551**
**98,484**
**(4,181)**
**1,406,854**|2019
Total
£
435,000
926,071
77,362
(5,464)
1,432,969| |---|---|---|---|---|