T. F. C. Frost Charitable Trust Accounts for the year ended 5th April 2022
T. F. C. Frost Charitable Tnt Accounts for the year ended 5th April 2022 INDEX Page Funding Principles of the Tn Trustees and Professional Advisors Rep)rt of the Tnistees Indewident Examiner's RqM)rt Statement of Financial Activiti¢s Balance Sheet Notes to the Aeeountj Accountin8 Policies Donations Donation Commitments against future inrx>me Appendleos Investments & Net Income (incl Portfolio Valuation) Sale of Investments
T. F. C. Frost Charitable Trust Funding Prlneiplu of the Trust Our Founder's wish in establishing the Frost Charitable Tn w&8 to foster research into the ptev¢ntion of blinth]¢ss by supporting progran]mes submitted by senior trainees and by enhancing their hori7A)ns by underwriting the costs of educational or research periods of training at home or abroad at recognised centres. He was not in favour of the T.8 financing of the Health Service by underwriting staff salaries which he regarded as the responsibility of the Departsnent of Health.
T. F. C. Frost Cbaiitable Trust Tht Deed dated 23rd September 1966 Registsred Cbarlty No. 256590 Trustees Thom&s A. F. Frost F. C. A. (Chairperson) Michael H. Mill¢r, M.D., F.R.C. S (Glasg), FRCOphth Professor John Marshall. BScOK)DS), PhD, F. R. C. Path, F.L.l.A, F.R.S.A Dr EIi7Abeth Graham Keith Barton MD FRCP FRCS Lucy Howe BA (Oxon), FRCOphth (resigned 16 Nov 2022) Banker8 Naiwest Bank plc Southampton Custornv S¢rvir£ Centre Bnmswick Gate 23 Brunswick Place Southampton S015 2AQ Reportitig AeeouDtants Holmes & Co Ltd l O Torrington Road Claygate, Esher, Surrey KTIO OSA Stockbrokerj Cazenove Capital l London Wall Pla London EC2Y SAU Solicitors CharlesRussell Speechlys 5 Fleet Place London EC4M 7RD
T. F. C. Fro¥t clritab Trnst Report of the Tru8tee4 for the year ended gb April 2022 A virtual meeting of the Tn took place on the 15th DecetDber 2021. Half-yearly reports were received from the recipients and wfflr circulated prior to the meeting together with fimding applications whi¢ty following interviews, were diScsed at the meetings by the Trustee5. Future donation commitments and ¢stimated future income were also presented and reviewed. All funding was distributed via a Hospital or University. Thomas A. F. Frost Chairnwj Michael H. Miller Dr Eliza Professor John Marshall Date: 30th November 2022
T. F. C. Frost Charitable Trust Independent Examiner's Report to the TntrtS of tbe T. F. C. Frost Charitable Trust I r¢port on the accounts of The Tntst for the y¢ar ended 5 April 2022, which are set out on pages 5 to 9. Respective respoDsibiliti¢s of Tru$l¢es and Examiner The charity's trustees are responsible for the prepardtion of the accounts. The charity's trustees consider that an audit is not required for this year under section 14412) of th¢ Cbarities Act 2011 (the 2011 Act) and that an ind¢pendent examination is needed. It is my resI$1b11lty to: examine the accounts under section 145 of the 2011 A to follow th¢ procedures laid down in the g¢nera] Directions given by the Charity Commission under section 145(5Xb) of the 2011 Act. and to state whether particular matters have come to my attention. Basis of Independent Examiner's Report My examAnation 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 ofthe accounts presented with thos¢ records. It also includes consideration of any unusual items or disclosures in ihe accounts and seeking explanations from you trustee5 concerning any such matters. The procedures undcrtaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given to whether the accounts pres¢nt a 'tru¢ and fair view. and the rew)rt is limited to those matters set out in the statement below. Independent ExamiD¢r'8 Statement In connection with my examination, no nter hLs come to my attention.. which gives me reasonable cause to believe that in any material respect the r¢qulrrmen. - to keep accounting records in accordance with section 130 of the 2011 Act and - to prepare accounL8 which accord with the accounting records and to comply with the accountin8 requirenwts of the 2011 Act. have not been rneL or 2. to which, in my Opinio attention should be drawn in order to enable a proper understanding of the accounts to be reache(L Holmes & Co Ltd Ciaygate Dats: 30th November 2022
T.F.C.Froyt Charitable Trust Statement of Financial Activities For the Yr Ended 5th April 2022 2022 2021 Incoming ResouTceJ N¢t Dividends Exchange rate (lossesygains Broker & Bank Intsrcst 58,985 963.402 23.653 15,333 ioi Total [DmIng Re8o•r¢¢s 1.022J87 39,087 Rwiurce8 EipeDded Grants & Ik)nations Profession&1 Fe¢s Holmes & Co Ltd C F Ruff¢r Cazenovt Bank char8¢s Total ReUre¢S Expended 47.490 500 5,287 17,902 12.113 10 5.287 32.281 82,802 38.068 Net IneominW{Ou¢golD&l Resoue9 for the Year 939,585 1,019 Net Movement in valu¢ of investments Realised (Ios8¢5y8ains Unrealised (lossesy88ins 578,773 (1,294,239) 141.288 126,661 Ne¢ Movement In Funds 224,119 268.968 Fund bAIAQ¢¢• brought forward •t 6th April Capital Account Incom¢ account Meetings 4,O97J22 (272,432) 3.829,373 (273.451) 606 3.825,496 3,556.528 Fund B4l*Dee8 carri1 forward at 5th April Capital Account Income account Meetings 3J81.856 667.153 4.097.322 (272,432) 606 4.049,615 3,825,496
T.F.CFrost Chrlt#bl¢ Trust Balnte Sbttt #s at 5th April 2022 2022 Investments at Mrket Vlu• 4.IMM.913 3,715.015 Current AJ•ets Cash at Bank Curyet)t acct Cash at Brokers. Investrientac4 4.169 40J33 9.466 101.029 44.702 110,495 ACCn divid income (14) {14) Net kn¢ts 4.049h15 3J25,496 Fundi Capital Income (incl Designated Funds- ncrte 2) Mcetin8S 3.381.856 667.153 4,097.322 (271432) 606 IM9h15 3,821A96 The notes on pAges 7 to 9 ftjnn part of thu¢ fK<ouTrts Thom&% A.P.Frost MiohAd H.Miller Profes)rJohn Marnhdl Keith Barton Lhte: 31hh Novem12022
T. F. C. Frost Charitable Trust Notes to the Accounts Aeeounting Pollcies The accounts have been Prepared in accordance with applicable accounting standards and the Statemenl of Recommended Practice: Accounting by Charities. 'lThe legal requirements are containcd in Part Vi of the Charities Act 1993 (as amended). The Charities (Accounts & Reports) Regulations 1995 and the Charities (Annuat Return) Regulations 1997 issued by the Charity Commissioners, and the Statement of ReMMended Practice: Accounting and Reporting by Charities, and the Companies Act 2006. There are restrtcted funds of £20.000 designated for Glaucoma projects. Unrestricted funds are expendable at the discretion of the TnLStees in furtheran of the objects of The Trust. A cashflow statcment b&s not bcen pr¢pared in accordance with Financial Reporting Statement 1 &8 both "tl]e 'frust Income and The Trust Assets fall outside the minimum size qualifications. Th¢re are no employees. The Trust does not trade, but tts income is derived from the dividends and profits of its portfolio of shares, and interest on uninvested cash.
T.F.C.Frost Charitable Trust Notes to the Accounts Donations 2022 Moorfields Eye Ho8Pltal Guy Negretti - Wills Eye Hospitsl 25,0(X) Slght Research UK Dr D. Copland - University of Bristol 22.490 47.490
T.F.C.Frnst Charitable Trust Not¢s to the A¢eounts Donation Commitioents from 6th Aprll 2023 Slght Rese*r¢h UK Dr D&vid Copland 22,490 22.490 44.980 Stsf0rd Unfvenlty, USA Tasneem Khatib 15.019 45.058 60.077 37.509 67.548 105.057