SLOUGH PUBLIC HALL TRUST
Charity Number 239134
Chairman RCH Weathersbee
Fantasia Church Road Farnham Royal SL2 3AW 01753 644955
ANNUAL REPORT OF THE TRUST FOR THE FINANCIAL YEAR ENDING 8[TH] JULY 2023
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1 We believe the accounts comply with current statutory requirements. The governing document is the Scheme sealed 26[th] September 2000. The Charity registra�on number is 239134. The address of the charity is Fantasia, Church Road, Farnham Royal, Bucks SL2 3AW. The bankers for the charity are CAF Bank Ltd, 25 Kings Hill Avenue, West Malling, Kent ME194JQ. The financial advisers are Charles Stanley and Co Ltd, 55 Bishopsgate, London EC2N 3AS.
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2 The trustees are currently (appointment date and term):
Robin Weathersbee.
Appointed for 5 years from 18[th] September 2018
Simon Bailey Appointed for 5 years from 24[th] September 2019
David Gould, Appointed for 5 years from 26[th] October 2020
Appointed for 5 years from 14[th] October 2021
Appointed for 5 years from 10[th] October 2022
Poten�al trustees are invited to be nominated for appointment. Every future Trustee shall be appointed for a term of five years by resolu�on of the Trustees passed at a mee�ng of the Trust (normally the annual mee�ng) of which 21 days’ no�ce shall be given.
- 3 document and therefore there are no specific investment powers.
the people of Slough. To this effect at a mee�ng on the 12[th] September 2001 it was agreed that the income should be distributed between Slough Schools by way of grants.
To this end all state run Schools in Slough were contacted asking for bids for school projects. At a mee�ng on the 10[th] October 2022 it was agreed that up to £16,900 be distributed over seven projects from the income generated from the investments. In the event, the amounts agreed and paid (once invoices were received) are shown below:
| School | Agreed | Paid |
|---|---|---|
| £ | £ | |
| Baylis Court | 4,797 | 4,065 |
| Beechwood | 3,498 | 3,300 |
| Langley Hall Primary/Infants | 3,000 | 2,829 |
| Rotary Club Burnham Beeches 700 | 455 | |
| Rotary Club of Slough | 1,910 | 1,910 |
| Ryvers | 2,800 | 1,617 |
| Total | 16,705 | 14,176 |
At the forthcoming 2023 Annual Mee�ng the Trustees will consider the distribu�on of income for the year ended 8[th] July 2023 together with any underspend from the previous year, but mindful of the on-going revenue account balance.
some trustees may also be trustees of schools or chari�es in Slough. No trustee received remunera�on or expenses. There are no subsidiary or associate undertakings whose results are included in the accounts of the Charity, or in the notes to the Charity’s Accounts. The Charity is considered to be a going concern.
- 4 The Trustees have complied with their duty to have due regard to the guidance on public benefit published by the Commission in exercising powers and du�es. The charity's purpose is carried out for the benefit of the people of Slough. It was agreed with the Charity Commissioners that this would be achieved by making grants to state run schools in the Borough of Slough, in order to improve the educa�on of beneficiaries.
The policy regarding capital and income is as set out in the Trust Deed item 24, whereby any proceeds of the sale of the Hall shall be invested in trust for the Charity. Therea�er, the Trustees shall apply the clear income and, subject to the approval of the Commissioners, the property of the Charity, in furthering the objects of the Charity or for such other charitable purposes for the general benefit of the inhabitants of the area
- 5 For the year ended 8[th] July 2023 investment income received by the General Fund was £42,518, represen�ng an approximate gross yield of 3.2%, or 2.1% net of fees (2.9% and 1.6% in 2021-22 respec�vely). A�er £14,176 of grants, £16,078 of professional fees and £693 of independent examina�on fees and bank charges, there was a net surplus of £12,052. Professional fees were over 37% of income received. This leaves a General Fund balance of £32,996 that is carried forward into the next financial year. The Designated Fund balance was £1,223,768 at the year end, a�er incurring net losses on investments of £47,615.
6 RISK ASSESSMENT
At a mee�ng of the Trustees on the 25[th] August 2004 and on the advice of our independent examiners, a risk assessment was carried out and the following points (A to E) were discussed. Each year these risks are reviewed to ensure any significant change in risk is managed appropriately.
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A. To mi�gate the risk of embezzlement, CAF Bank payments are made on-line and require two authorised persons to approve each payment. The books and accounts are also checked by an independent examiner.
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B. To mi�gate the risk of ac�ng in a non-charitable manner, and a�er previous problems, a new Trust Deed was prepared in consulta�on with the Charity Commissioners and our Solicitors. The Charity Commissioners had passed the document which was signed and sealed on 26[th] September 2000. In consulta�on with the Charity Commissioners and our Solicitors it was agreed on 12[th] September 2001 that income should be distributed, at the discre�on of the Trustees, between the Schools of Slough.
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C. To ensure there are no omissions, a list of Slough Schools is obtained each year from Slough Borough Council, and each of the schools is circulated asking for bids for our funds and se�ng out our criteria for dona�ng grants.
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D. To ensure there are no incorrect payments, copy invoices are requested from the Schools before reimbursement is made.
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E. employed by the Trustees. They are authorised and regulated by the Financial Conduct Authority, and as agreed at the mee�ng on 25[th] August 2004 they would be employed in an advisory capacity at a fee each year, to oversee the trust’s investments and advise the trustees on sales and purchases. This advice would be taken. It was agreed at the 2019 annual mee�ng that Charles Stanley would be employed in a discre�onary managed role, which allows them to manage the por�olio independently.
The Trustees agreed that this assessment covered all foreseeable risks and forms the body of our Risk Assessment. This Risk Assessment was last reviewed at the mee�ng on 10[th] October 2022 and will be reviewed at the 2023 Annual Mee�ng.
This concludes the Report of the Trust for the year ended 8[th] July 2023.
S Bailey 4[th] August 2023
Slough Public Hall Trust Charity Commission registered number 239134
Charity Information For the year ended 8[th] July 2023
| Trustees | B Askew |
|---|---|
| S E Bailey | |
| J J Branch | |
| D Gould | |
| R C H Weathersbee | |
| R Nockles | |
| M Rosedale | |
| I Griffith | |
| Bankers | CAF Bank |
| Principal office | Fantasia |
| Church Road | |
| Farnham Royal | |
| Bucks SL2 3AW | |
| Independent Examiner | SKS Consultants |
| 12 Kaywood Close | |
| Langley | |
| Slough | |
| Berkshire | |
| SL3 7SR |
Slough Public Hall Trust
Charity Commission registered number 239134 Statement of Financial Activities for the year ended 8 July 2023 (incorporating an income and expenditure account)
| Note Incoming Resources Investment income Dividends Interest Total receipts Resources Expended Expenditure on raising funds Investment manager's fees Bank Charges Charitable activities Grants payable 3 Governance and support Independent examiner’s fees 4 Total resources expended Net incoming/(outgoing) resources Gains (losses) on investments 5 Total funds brought forward Total funds carried forward |
2023 2023 2023 Total Funds £ £ £ 42,518 0 42,518 481 0 481 42,999 0 42,999 16,078 0 16,078 63 0 63 14,176 0 14,176 630 630 30,947 0 30,947 12,052 0 12,052 0 (47,615) (47,615) 20,944 1,271,383 1,292,327 32,996 1,223,768 1,256,764 General Fund Designated Fund |
2022 Total Funds £ 38,820 27 |
|---|---|---|
| 38,847 | ||
| 17,363 96 16,422 600 |
||
| 34,481 | ||
| 4,366 (82,556) 1,370,517 |
||
| 1,292,327 |
Continuing operations
All the charity's operations are continuing operations and there were no operations discontinued or acquired during the year.
Slough Public Hall Trust
Charity Commission registered number 239134 Balance Sheet as at 8 July 2023
| Note Fixed assets Investments 5 Current assets Debtors Cash at bank and with investment manager Current liabilities Accrued Expenses 6 Net current assets Total assets less current liabilities Funds Designated fund 7 General fund 8 Total funds |
£ 121,962 630 |
2023 £ 1,135,432 121,332 1,256,764 1,223,768 32,996 1,256,764 |
£ 107,854 2,203 |
2022 £ 1,186,676 105,651 |
|---|---|---|---|---|
| 1,292,327 | ||||
| 1,271,383 20,944 |
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| 1,292,327 |
These accounts were approved by the board of trustees and signed on their behalf by:
| R C H Weathersbee - Trustee | date | 11/08/23 | S Bailey – Trustee |
|---|---|---|---|
| R Wea���r���� | S Bailey |
Slough Public Hall Trust
Notes to the Financial Statements
for the year ended 8 July 2023
1 Accounting policies
Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to the accounts adjusted for the statement of investments at market value. The accounts have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) and with the Charities Act 2011.
Status of Charity
The charity was formally registered with the Charity Commissioners in 1996 under charity registered number 239134.
Investments
The investments are listed on a recognised stock exchange and are held in the UK and overseas. Investments are valued at market value at the Balance Sheet date
Income
Investment income is recognised on receipt and relates to investments listed on a recognised stock exchange and arises on investments in the UK and overseas. Accumulation dividends are added to income.
Grants Payable
Grants Payable are included in the Statement of Financial Activities as incurred.
Investment gains and losses
This includes realised or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
2 Resources expended
The charity has no employees and no trustee received remuneration nor reimbursement of expenses. Trustee time was given free of charge and no attempt has been made to place a value on those services.
| 3 Grants Payable Baylis Court (current year) Baylis Court (previous year) Beechwood Grove Academy Herschel Grammar Langley Hall Primary Littledown Rotary Club of Burnham Beeches (Dictionaries) Rotary Club of Slough (Dictionaries) Ryvers Western House EducationInstitutional Grants |
2023 Total £ 4,065 3,300 2,829 455 1,910 1,617 14,176 |
2022 Total £ 1,603 3,222 3,305 2,451 1,250 1,500 3,091 |
|---|---|---|
| 16,422 |
Slough Public Hall Trust
Notes to the Financial Statements for the year ended 8 July 2023
| 4 Management and Administration Independent examiner’s fee 5 Fixed Asset Investments Quoted investments and unit trusts Market value at 8 July 2022 Additions Disposals Gain/(loss) on investment assets Market value at 8 July 2023 Historic cost |
2023 £ 630 2023 £ 1,186,676 65,058 (68,687) (47,615) 1,135,432 899,431 |
2022 £ 600 2022 1,304,142 60,795 (95,705) (82,556) |
|---|---|---|
| 1,186,676 | ||
| 882,640 |
Included in the above are investments held overseas with a market value of £190,407 (2022 - £227,528) The investments are held primarily to provide an investment return for the charity. The charity has no investments of more than 5% of the portfolio value
| 6 Creditors Independent examiners fee Grants payable |
2023 £ 630 0 630 |
2022 £ 600 1,603 |
|---|---|---|
| 2,203 |
7 Designated Fund
The funds of the charity include a designated capital fund which has been set aside out of unrestricted funds by the trustees in order to provide an income for the unrestricted fund which will be used for the benefit of the people of Slough for which sufficient and appropriate funds are held.
| 8 Analysis of Net Assets between Funds Unrestricted Funds Designated Fund General Fund |
Investments £ 1,135,432 0 1,135,432 |
Current Assets £ 88,336 32,996 121,332 |
Total £ 1,223,768 32,996 |
|---|---|---|---|
| 1,256,764 |
Slough Public Hall Trust
Charities Commission registered number 239134 Independent examiner's statement on the accounts for the year ended 8[th] July 2023
I report on the accounts for the year ended 8th July 2023
Respective responsibilities of trustees and examiner
As the charity trustees you are responsible for the preparation of the accounts. The charity trustees consider that an audit is not required for this year under Section 144(2) of the Charities Act 2011 (the Act) and that an independent examination is needed. It is my responsibility to:
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examine the accounts under section 145 of the Act,
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follow the procedures laid down in the General Directions given by the Charity Commission under Section 145(5)(b) of the Act, and
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state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts with those records. It also includes consideration of any unusual items, in nature or scale, or disclosures in the accounts, seeking explanations from the trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the accounts present a ‘true and fair’ view. My report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with the examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Act
have not been met; or
(2) to which in my opinion attention should be drawn in order to enable a proper understanding of the accounts to be reached.
SKSharma
Mr S K Sharma SKS Consultants 12 Kaywood Close Slough Berkshire SL3 7SR
Date 12th September 2023