**REGISTERED CHARITY NUMBER: 237708**
## **REPORT OF THE TRUSTEES AND**
## **UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2023**
## **FOR**
## **THE R V COLEMAN TRUST**
McCabe Ford Williams Chartered Accountants Charlton House Dour Street DOVER Kent CT16 1BL
**THE R V COLEMAN TRUST**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
|||**Page**||
|---|---|---|---|
|**Reference and Administrative Details**||1||
|**Report of the Trustees**|2|to|3|
|**Independent Examiner's Report**||4||
|**Statement of Financial Activities**||5||
|**Balance Sheet**||6||
|**Notes to the Financial Statements**|7|to|13|
|**Detailed Statement of Financial Activities**||14||
**THE R V COLEMAN TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2023**
|**Trustees**|||
|---|---|---|
|||**Year of Retirement**|
|Nominative:|Councillor Mrs P.M Brivio|2025|
|Co-opted|B Lawrence Esq (Chairman)|2025|
||G A J Lymer Esq|2025|
||Dr M J Parks|2026|
||Mrs R R Wanstall|2025|
||J T Woodland Esq|2027|
|**Clerk to the Trustees:**|Mrs G Farthing||
|**PRINCIPAL ADDRESS**|3 Church Farm Mews||
||The Street||
||East Langdon||
||Dover||
||Kent||
||CT15 5FE||
|**REGISTERED CHARITY**|237708||
|**NUMBER**|||
|**INDEPENDENT EXAMINER**|McCabe Ford Williams||
||Chartered Accountants||
||Charlton House||
||Dour Street||
||DOVER||
||Kent||
||CT16 1BL||
|**BANKERS**|National Westminster Bank Plc||
||25 Market Square||
||Dover||
||Kent
CT1 2TU||
|**STOCKBROKERS**|Rathbone Brothers Plc||
||8 Finsbury Circus||
||London
EC2M 7AZ||
Page 1
**THE R V COLEMAN TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023**
The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of 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).
## **OBJECTIVES AND ACTIVITIES**
## **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.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The total number of cases in which assistance was provided, where no assistance was available from other sources, was 39 at a total cost of £67,404 (2022: 33 at a total cost of £36,798). 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.
## **Investment 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**
## **Financial position**
The overall net value of the Trust funds amounted to £1,593,796 on 31 December 2023 (2022: £1,591,767). The total income generated by the Trust amounted to £83,450 (2022: £69,164). Of this, £76,524 was expended on charitable activities (2022: £41,184), £2,131 on support costs (2022: £4,906), and £20,227 on investment management costs (2022: £9,926). Net gains on investments were £17,461 (2022: gain of £81,086).
## **Reserves policy**
The unrestricted reserves of the Trust, representing accumulated income not expended for the purposes of the Trust, as at the year-end amounted to £168,414 (2022: £173,398), and these are freely available to meet the future requirements of the Trust. The policy of the Trustees is to aim to retain enough reserves to meet anticipated operating costs for a period of six months and to allow any annual surpluses of income over expenditure to accumulate to meet any future requirements of the Trust's objectives. The current level of unrestricted reserves exceeds the policy, at the year end.
## **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
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The Charity is governed by the Charity Commission Scheme dated 4 December 2000. The appointment of Trustees is governed by the Charity's Constitution. The Trustees are authorised to appoint new Trustees to fill vacancies arising through the resignation or death of an existing Trustee. Recruitment and appointment of new Trustees is by invitation based on personal knowledge of the appointee. The nature of the Charity does not require that any induction and training procedures for Trustees are considered necessary. The day-to-day administration of the charitable objects is undertaken by the Welfare Officer, Mrs Jill Sarjeant following guidelines established by the Trustees.
Page 2
**THE R V COLEMAN TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Plans for Future Periods**
The Trustees will continue their existing policy of actively seeking potential beneficiaries and will aim to match annual income and expenditure to the best of their ability.
## **Risk management**
The Trustees have considered the major risks to which the Charity is exposed and have developed policies and procedures to manage and mitigate their effects.
Approved by order of the board of trustees on 30 October 2024 and signed on its behalf by:
B Lawrence - Trustee
Page 3
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE R V COLEMAN TRUST**
## **Independent examiner's report to the trustees of The R V Coleman Trust**
I report to the charity trustees on my examination of the accounts of The R V Coleman Trust (the Trust) for the year ended 31 December 2023.
## **Responsibilities and basis of report**
As the charity trustees of the Trust 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 Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all 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 Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
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.
Ian Pascall FCA
McCabe Ford Williams Chartered Accountants Charlton House Dour Street DOVER Kent CT16 1BL
30 October 2024
Page 4
## **THE R V COLEMAN TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Income from investments
2
**Total**
**EXPENDITURE ON**
**Investments**
Investment management costs
3
**Charitable activities**
4
Charitable activities
Support costs
**Total**
Net gains on investments
**NET INCOME**
**Transfers between funds**
14
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
100
3,818
3,918
448
448
3,778
2,131
6,357
2,815
376
(5,360)
(4,984)
173,398
168,414|Endowment
fund
£
-
79,532
79,532
19,779
19,779
72,746
-
92,525
14,646
1,653
5,360
7,013
1,418,369
1,425,382|2023
Total
funds
£
100
83,350
83,450
20,227
20,227
76,524
2,131
98,882
17,461
2,029
-
2,029
1,591,767
1,593,796|2022
Total
funds
£
-
69,164
69,164
9,926
9,926
41,184
4,906
56,016
81,086
94,234
-
94,234
1,497,533
1,591,767|
|---|---|---|---|---|
The notes form part of these financial statements
Page 5
## **THE R V COLEMAN TRUST**
## **BALANCE SHEET 31 DECEMBER 2023**
|Notes
**FIXED ASSETS**
**Investments**
Investments
10
Investment property
11
**CURRENT ASSETS**
Debtors
12
Cash at bank
**CREDITORS**
Amounts falling due within one year
13
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
14
Unrestricted funds:
General fund
Endowment funds:
Permanent endowment fund
**TOTAL FUNDS**|Unrestricted
fund
£
53,976
-
53,976
6,244
113,190
119,434
(4,996)
114,438
168,414
168,414|Endowment
fund
£
822,777
600,000
1,422,777
2,605
-
2,605
-
2,605
1,425,382
1,425,382|2023
Total
funds
£
876,753
600,000
1,476,753
8,849
113,190
122,039
(4,996)
117,043
1,593,796
1,593,796
168,414
1,425,382
1,593,796|2022
Total
funds
£
852,618
600,000
1,452,618
18,325
125,847
144,172
(5,023)
139,149
1,591,767
1,591,767
173,398
1,418,369
1,591,767|
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 30 October 2024 and were signed on its behalf by:
B Lawrence - Trustee
The notes form part of these financial statements
Page 6
**THE R V COLEMAN TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
## **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 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.
## **Freehold investment property**
The property is leased out to an independent third party under a full repairing lease. In accordance with the Statement of Recommended Practice, the investment property is carried at fair 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.
## **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.
## **Going concern**
The Trustees assess 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.
continued...
Page 7
**THE R V COLEMAN TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
|**2.**
**INCOME FROM INVESTMENTS**
2023
£
Rents receivable
47,095
Listed securities
34,819
Cash investments
1,436
83,350
**3.**
**INVESTMENT MANAGEMENT COSTS**
2023
£
Stockbrokers' fees
7,620
Other professional fees
12,607
20,227
**4.**
**CHARITABLE ACTIVITIES COSTS**
Direct
Support
Costs (see
costs (see
note 5)
note 6)
£
£
Charitable activities
72,746
3,778
Support costs
-
2,131
72,746
5,909
**5.**
**DIRECT COSTS OF CHARITABLE ACTIVITIES**
2023
£
Grants and donations
67,404
Welfare officer
5,200
Sundry expenses
142
72,746
**6.**
**SUPPORT COSTS**
Charitable activities
Support costs|2022
£
34,250
34,535
379
69,164
2022
£
8,126
1,800
9,926
Totals
£
76,524
2,131
78,655
2022
£
36,798
4,274
112
41,184
Support
costs
£
3,778
2,131
5,909|
|---|---|
continued...
Page 8
**THE R V COLEMAN TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **6. SUPPORT COSTS - continued**
Support costs, included in the above, are as follows:
||||2023|2022|
|---|---|---|---|---|
||Charitable|Support|Total|Total|
||activities|costs|activities|activities|
||£|£|£|£|
|Clerk|3,778|-|3,778|2,717|
|Independent examiners fees|-|1,920|1,920|1,956|
|Insurance|-|211|211|233|
||3,778|2,131|5,909|4,906|
## **7. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
## **8. STAFF COSTS**
Remuneration was paid as follows:
## **9.**
|Wages
Social security costs
Pension costs|2023
£
8,978
-
-
8,978|2023
£
8,978
-
-
8,978||2022
£
6,991
-
-
6,991|
|---|---|---|---|---|
||||||
|No employee received more than £60,000 in either year.
The average number of employees in the year was:|||||
|
Clerk||1||1|
|Welfare Officer||1||1|
|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Income from investments
2,627
**EXPENDITURE ON**
**Investments**
Investment management costs
500
500
**Charitable activities**
Charitable activities
-||
Endowment
fund
£
66,537
9,426
9,426
41,184||Total
funds
£
69,164
9,926
9,926
41,184|
continued...
Page 9
**THE R V COLEMAN TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
|Support costs
**Total**
Net gains/(losses) on investments
**NET INCOME/(EXPENDITURE)**
**Transfers between funds**
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**10.**
**FIXED ASSET INVESTMENTS**
**MARKET VALUE**
At 1 January 2023
Additions at cost
Disposal proceeds
Investment gains/(losses) in year
At 31 December 2023
**NET BOOK VALUE**
At 31 December 2023
At 31 December 2022|Unrestricted
fund
£
4,906
5,406
(10,495)
(13,274)
23,647
10,373
163,025
173,398|Endowment
fund
£
-
50,610
91,581
107,508
(23,647)
83,861
1,334,508
1,418,369|Total
funds
£
4,906
56,016
81,086
94,234
-
94,234
1,497,533
1,591,767
Listed
investments
£
852,618
82,442
(75,768)
17,461
876,753
876,753
852,618|
|---|---|---|---|
Investment gains/(losses) in the year include both realised and unrealised gains/(losses) in the year.
continued...
Page 10
**THE R V COLEMAN TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **11. INVESTMENT PROPERTY**
£
|**FAIR VALUE**
At 1 January 2023
and 31 December 2023
**NET BOOK VALUE**
At 31 December 2023
At 31 December 2022|600,000
600,000
600,000|
|---|---|
The freehold land and buildings are leased to South Kent Community Health Care National Health Service Trust on a ten year lease that started in early 2023.
The Trustees value the property on an annual basis at fair value. Every five years, or if market conditions change significantly, an independent valuation is undertaken. The most recent valuation was made on 31 March 2022 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.
## **12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Cash at brokers
Sundry debtors
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Sundry creditors|2023
£
2,872
5,977
8,849
2023
£
4,996|2022
£
17,288
1,037
18,325
2022
£
5,023|
|---|---|---|
## **13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
## **14. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
**Endowment funds**
Permanent endowment fund
**TOTAL FUNDS**|At 1.1.23
£
173,398
1,418,369
1,591,767|Net
movement
in funds
£
376
1,653
2,029|Transfers
between
funds
£
(5,360)
5,360
-|At
31.12.23
£
168,414
1,425,382
1,593,796|
|---|---|---|---|---|
continued...
Page 11
**THE R V COLEMAN TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **14. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Endowment funds**
Permanent endowment fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**Endowment funds**
Permanent endowment fund
**TOTAL FUNDS**|Incoming
resources
£
3,918
79,532
83,450
At 1.1.22
£
163,025
1,334,508
1,497,533|Resources
expended
£
(6,357)
(92,525)
(98,882)
Net
movement
in funds
£
(13,274)
107,508
94,234|Gains and
losses
£
2,815
14,646
17,461
Transfers
between
funds
£
23,647
(23,647)
-|Movement
in funds
£
376
1,653
2,029
At
31.12.22
£
173,398
1,418,369
1,591,767|
|---|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**|Incoming
Resources
Gains and
resources
expended
losses
£
£
£|Movement
in funds
£|
|---|---|---|
|General fund|2,627
(5,406)
(10,495)|(13,274)|
|**Endowment funds**|||
|Permanent endowment fund|66,537
(50,610)
91,581|107,508|
|**TOTAL FUNDS**|69,164
(56,016)
81,086|94,234|
## **Funds**
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.
continued...
Page 12
**THE R V COLEMAN TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **15. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2023 (2022 none).
## **16. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|||Permanent|||
|---|---|---|---|---|
||Unrestricted|Endowment|||
||Fund|Fund|2023|2022|
||||Total|Total|
||£|£|£|£|
||||||
|**Investment property**|-|600,000|600,000|600,000|
|**Investments**|53,976|822,777|876,753|869,906|
|**Current assets**|119,434|2,605|122,039|126,884|
|**Creditors due within one year**|(4,996)
168,414|-
1,425,382|(4,996)
1,593,796|(5,023)
1,591,767|
Page 13
## **THE R V COLEMAN TRUST**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023**
||||2023|2022|
|---|---|---|---|---|
||Unrestricted|Endowment|Total|Total|
||funds|funds|funds|funds|
||£|£|£|£|
|**INCOME AND ENDOWMENTS**|||||
|**Donations and legacies**|||||
|Donations|100|-|100|-|
|**Income from investments**|||||
|Rents receivable|-|47,095|47,095|34,250|
|Listed securities|2,382|32,437|34,819|34,535|
|Cash investments|1,436|-|1,436|379|
||3,818|79,532|83,350|69,164|
|**Total incoming resources**|3,918|79,532|83,450|69,164|
|**EXPENDITURE**|||||
|**Investment management costs**|||||
|Stockbrokers' fees|448|7,172|7,620|8,126|
|Other professional fees|-|12,607|12,607|1,800|
|**Charitable activities**|448|19,779|20,227|9,926|
|Grants and donations|-|67,404|67,404|36,798|
|Welfare officer|-|5,200|5,200|4,274|
|Sundry expenses|-|142|142|112|
|**Support costs**|-|72,746|72,746|41,184|
|**Support costs**|||||
|Clerk|3,778|-|3,778|2,717|
|Independent examiners fees|1,920|-|1,920|1,956|
|Insurance|211|-|211|233|
||5,909|-|5,909|4,906|
|Total resources expended|6,357|92,525|98,882|56,016|
|**Net income/(expenditure) before gains and**|||||
|**losses**|(2,439)|(12,993)|(15,432)|13,148|
|**Net recognised gains and losses**|||||
|Net gains/(losses) on fixed asset investments|2,815|14,646|17,461|(83,914)|
|Surplus on revaluation of freehold property|||||
|investment|-|-|-|165,000|
|**Net income/(expenditure)**|376|1,653|2,029|94,234|
||||||
This page does not form part of the statutory financial statements
Page 14