THE NEILL TRUST
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5[th] APRIL 2023
Charity No: 257639
THE NEILL TRUST
Charity Information
Trustees Patricia Dann Robert Neill Caragh Pugh Charity No: 257639 Charity Address: 194-196 High Street, Uckfield, TN22 1RD Independent Examiner: Robin Farmer FCCA Woodclyffe, Eight Bells Close, Buxted, TN22 4JT Bankers: Barclays Bank PLC Uckfield East Sussex
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THE NEILL TRUST
The Trustees present their report and accounts for the year ended 5[th] April 2023.
Trustees Report
The Trustees shown on page 1 served throughout the year.
The Trustees acknowledge a generous donation of £1,000,000 received during the year which will enable them to increase their support to charities in support of the charity’s objectives.
The charity continued to make donations to UK charities for the relief of the poor and the sick, also to other overseas charities active in the third world especially in education and the relief of poverty, in accordance with its objectives.
Investments
The Trustees’ policy is to invest in funds that produce a regular income to enable the charity to carry out its objectives whilst protecting the capital.
There has been a reduction of £39,000 in the value of the investment portfolio however the Trustees are confident that this will be recovered in the medium term.
Public Benefit
All grants made by the Trustees are made after due consideration of the public benefit in accordance with the charity’s objectives. Due consideration is given to requests for grants from individuals if they comply with the charity’s objectives.
Future Plans
The charity will continue to make grants and donations in accordance with its trust deed.
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THE NEILL TRUST
Statement of trustees' responsibilities
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year (under section 145 of the Charities Act 2011) and that an independent examination is needed.
In preparing the accounts the trustees should follow best practice and
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Select suitable accounting policies and apply them consistently
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Make judgements and estimates that are reasonable and prudent
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State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements
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Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping accounting records that disclose with reasonable accuracy the financial position of the charity and which enable them to ensure that the financial statements comply with applicable law and regulations. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approval
This report was approved by the trustees on the 18[th] May 2023 and signed on their behalf.
Patricia Dann Robert Neill
Trustee
Trustee
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THE NEILL TRUST
Report of the independent Examiner to the Trustees of The Neill Trust
I have examined the financial statements for the year ended 5[th] April 2023 on pages which have been prepared under the historical cost convention and the accounting policies set out on page 5. Respective responsibilities of trustees and examiner as described on page 3 the charity's trustees are responsible for the preparation of the financial statements in accordance with applicable law and United Kingdom accounting standards. The charity's trustees consider an audit is not required for this year under section 144 of the Charities Act 2011 (the Act) and that an independent examination is required.
It is my responsibility as examiner to: Examine the accounts (under section 145 of the 2011 Act) Follow the procedures laid down in the general directions given by the Charity Commission (under section 145(b) of the Act)
State whether particular matters have come to my attention.
I read the Report of the Trustees and consider the implications for my report if I become aware of any apparent misstatements within it.
Basis of independent Examiner's statement
My examination was carried out in accordance with 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 presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any 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, and the report is limited to those matters set out in the statement below.
Independent Examiner's statement
In connection with my 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 2011 Act and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
R I Farmer
Robin Farmer FCCA Woodclyffe Eight Bells Close Buxted East Sussex TN22 4JT
Dated 18[th] May 2023
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THE NEILL TRUST
Statement of Financial Activities for the year ended 5[th] April 2023
| 2022/23 | 2021/22 | |||
|---|---|---|---|---|
| Unrestricted | Total | Unrestricted | Total | |
| Funds | Funds | Funds | Funds | |
| £ | £ | £ | £ | |
| INCOME | ||||
| Donations | 1,000,000 | 1,000,000 | 0 | 0 |
| Dividends | 13,664 | 13,664 | 12,935 | 12,935 |
| TOTAL INCOME | 1,013,664 | 1,013,664 | 12,935 | 12,935 |
| EXPENDITURE | ||||
| Charitable Donations | 57,000 | 57000 | 33,200 | 33,200 |
| Administration | 21 | 21 | 1,135 | 1,135 |
| TOTAL EXPENDITURE | 57,021 | 57,021 | 34,335 | 34,335 |
| Net Gains/(Losses) on Investments | (38,663) | (38,663) | 34,081 | 34,081 |
| NET INCOME/(EXPENDITURE) | 917,980 | 917,980 | 12,681 | 12,681 |
| RECONILIATION OF FUNDS: | ||||
| Fund Balances brought forward at 6th April 2022 | 526,652 | 526,652 | 513,971 | 513,971 |
| Fund Balances carried forward at 5th April 2023 | 1,444,632 | 1,444,632 | 526,652 | 526,652 |
| All amounts derive from continued operations | ||||
| All gains and losses from operations are included in the | ||||
| Statement of Financial Activities |
Balance Sheet as at 5[th] April 2023
| 2022/23 | 2021/22 | |||
|---|---|---|---|---|
| Unrestricted | Total | Unrestricted | Total | |
| Funds | Funds | Funds | Funds | |
| £ | £ | £ | £ | |
| FIXED ASSETS | ||||
| Investments | 861,177 | 861,177 | 496,440 | 496,440 |
| TOTAL FIXED ASSETS | 861,177 | 861,177 | 496,440 | 496,440 |
| CURRENT ASSETS | ||||
| Cash at Bank | 583,455 | 583,455 | 30,212 | 30,212 |
| NET ASSETS | 1,444,632 | 1,444,632 | 526,652 | 526,652 |
| TOTAL FUNDS | ||||
| Unrestricted Funds | 1,444,632 | 1,444,632 | 526,652 | 526,652 |
| FUNDS OF THE CHARITY | 1,444,632 | 1,444,632 | 562,652 | 526,652 |
The financial statements have been prepared under the historic cost convention, as modified for the revaluation of certain investments at market value. The financial statements have been prepared in accordance with the 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) and the Charities Act 2011, and UK Generally Accepted Accounting Practice as it applies from 1 January 2015. The Trust constitutes a public benefit entity as defined by FRS 102.
The Trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern. There are no material uncertainties affecting the current year's accounts.
Signed
Patricia Dann
Trustee
Robert Neill
Trustee
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THE NEILL TRUST