2022-12-31-accounts

The Rockley Charitable Trust Charity Registration No: 258454

Trustees' report and unaudited accounts For the year ended 31 December 2022

The Rockley Charitable Trust

Legal and administrative information

Trustees	Lord Rockley
	The Hon William E. Cecil
Charity number	258454
Principal address	Lytchett Heath
	Poole
	Dorset
	BH16 6AE
Accountants	Evelyn Partners LLP
	Accountants
	Old Library Chambers
	21 Chipper Lane
	Salisbury
	Wiltshire
	SP1 1BG
Independent examiner	Julie Mutton FCA
	Evelyn Partners LLP
	Old Library Chambers
	21 Chipper Lane
	Salisbury
	Wiltshire
	SP1 1BG
Bankers	Coutts & Co
	440 Strand
	London
	WC2R 0QS
Investment advisors	Cazenove Capital
	1 London Wall Place
	London
	EC2Y 5AU

The Rockley Charitable Trust

Contents

	Page
Trustees' report	1 - 3
Independent examiner's report	4
Statement of fnancial activities	5
Balance sheet	6
Notes to the accounts	7 - 13

The Rockley Charitable Trust

Trustees' report for the year ended 31 December 2022

The trustees present their annual report together with the accounts of the charity for the year ended 31 December 2022.

The accounts comply with the Charities Act 2011 and 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).

Objects and activities

The charity's objects are to hold income and capital to apply for purposes which are exclusively charitable.

The policies adopted in furtherance of these objects are to make charitable donations from the income of the trust. Trustees may also pay whole or part of the capital to any charitable foundation.

The trustees will continue to support the work of charities, voluntary organisations and individuals.

Investment policy

The trustees have a portfolio of listed investments that had a market value of £4,845,593 (2021: £5,055,914) at 31 December 2022. The trustees receive investment advice from Cazenove Capital.

The trustees have wide powers of investment and are investing for a balanced return.

Public benefit

The trustees have considered the guidance provided by the Charity Commission with regard to meeting the public benefit objective. As all donations are made to registered charities, charitable entities which do not require to be registered with the Charity Commission, or to individuals which meet the charity's objects noted above, the trustees believe that The Rockley Charitable Trust is acting for the benefit of the public.

Achievements and performance

Grants

The charity made 31 (2021: 40) grants across the sectors as detailed in note 5. These have been made in line with the charity's objects.

Results for the year

The financial activities are summarised on page 5 of the accounts. During the year, the trustees had net expenditure before losses on investments of £9,093 (2021: net expenditure of £16,087) having made grants totalling £73,445 (2021: £80,824).

The trust's investment portfolio decreased in value year-on-year by £210,321.

As the first lockdown began, the residents of Lytchett Matravers established a community group, the Lytchett Matravers Angels, to help those affected by the virus. This was to support the residents with shopping and prescription collections, check in and chat to those isolated and provide food aid to those in need. As a part of this a special relief fund was raised to provide emergency funds to help residents cope with daily living expenses, support home-schooling, increases in utility bills whilst they work from home and furlough or redundancy.

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The Rockley Charitable Trust

Trustees' report for the year ended 31 December 2022

As the needs of the residents reduced as life returned to a level of normality in the autumn of 2021, the work of Lytchett Matravers Angels was wound down. The remaining funds in the relief fund were transferred to the Rockley Charitable Trust to be held in a restricted fund to be spent on suitable charitable causes which are likely to be Lytchett Matravers Community based.

Reserves policy

The trustees will maintain reserves at a sufficient level to enable donations to be made within the scope of the income received each year, with any surplus being added to reserves.

Related parties

Included within current asset investments is a loan of £250,000 to Breast Cancer Haven. The loan accrues interest on a daily basis at a rate equal to the aggregate of the Base Rate and a margin of 1.75% per annum. Lord Rockley is a trustee of Breast Cancer Haven.

A provision of £62,500 has been included against this loan during the year.

Structure, governance and management

Governance

The charity is an unincorporated trust, constituted under a charitable trust deed dated 5 March 1969 by The Rt Hon. Robert William Evelyn Baron Rockley and is registered with the Charity Commission, number 258454.

Trustees

The trustees who served during the year were:

Lord Rockley The Hon William E. Cecil

The power of appointing new trustees is vested with the trustees.

Structure

The day to day administration of the trust is carried out by Lord Rockley.

The trustees have the power to invest in any investments or any property, or interests in property, of whatsoever kind (real or personal) in any part of the world.

Risk factors

The trustees have reviewed the risks to the charity 's assets and are satisfied that adequate controls are in place.

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The Rockley Charitable Trust Trustees, report for the year ended 31 December 2022 Tn4Stees' respon$ibliit5es The trustees are responsible for preparing the Trustees. report and the accounts in accordance with apP￿cable Law and reguiallons, The Law applicable to charities in England and Wales requir￿ the trustees to prèpare accounts for each financial year in aecordance with United Kingdom GeneraLiy Accepted Accounting Practice (United KSngdom Accounting Standards and applicable regulationsl. Under that Law the trustees must not approve the accounts unless they are sats'sfied that they give a true and fair vlew of the slate of affairs of the trust and of the incoming resource5 and application of resources of the trust for that year. In preparing these accounts, the trustees are required to.. select sultable atcounting policies and then apply them consistently.. ¢bseNe Ihe methods and principles in the Charities SORP., - makejudgements and estimates that are reasonable arid prudent.. state whether applicable accounting standards have been followed. subject to any material departures disclosed and explained in the accounts.. and prepare the accounts on the going concern basis unless it is inappropriate to presume that the charlty will continue in operation. The trustees are responsible ft)r keeping proper accounting records which are sufficent to show and explain the trust's transactions and disclose with reasonable accuracy at any time the financial position of th& trust and enable them to ensure that the accounts comply with the Charities Act 2011. the Charities (Accounts and Reportsl Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for tsknng reasonable steps for the prevention and detection of fraud and other irregularities. On behalf of the board of trustees Lord Roekley Trustee Dale..

The Rockley Charitable Trust

Independent examiner's report to the trustees of The Rockley Charitable Trust

I report to the trustees on my examination of the accounts of The Rockley Charitable Trust for the year ended 31 December 2022 which comprise the statement of financial activities, the balance sheet and the notes to the accounts, including a summary of significant accounting policies.

Respective responsibilities of trustees and examiner 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; or

3. the accounts do not comply with the applicable requirements concerning the form and content of the 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 accross 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.

....................................

Julie Mutton

Fellow of The Institute of Chartered Accountants in England & Wales

Evelyn Partners LLP Accountants Old Library Chambers 21 Chipper Lane Salisbury Wiltshire SP1 1BG

Date: 3 August 2023

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The Rockley Charitable Trust

Statement of financial activities for the year ended 31 December 2022

Unrestricted Restricted funds funds Notes £ £ 2 82,488 - 3 - 50 82,488 50 8,660 - 71,195 2,250 9,526 - 4 89,381 2,250 (6,893) (2,200) (189,278) - (107,500) - (303,671) (2,200) 5,182,335 4,880 Income Income from raising funds: Investment income Donations and legacies Total income Expenditure Costs of raising funds: Investment management fees Charitable activities: Expenditure on charitable activities Support costs Total expenditure Net expenditure before (losses)/gains on investments Net (losses)/gains on investments Write down of loans receivable Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 4,878,664 2,680	2022 Total £ 82,488 50 82,538 8,660 73,445 9,526 91,631 (9,093) (189,278) (107,500) (305,871) 5,187,215 4,881,344	2021 Total £ 72,524 7,404
		79,928
		8,775 80,824 6,416
		96,015
		(16,087) 683,427 -
		667,340 4,519,875
		5,187,215

All incoming resources and resources expended derive from continuing activities.

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The Rockley Charitable Trust Balance sheet as at 31 December 2022 2022 2021 Notes Flxed assets Investments 4,845,593 5,055,914 Current assets Investments Debtors Cash at bank and in hand io li 232,SOO 8,448 SO,244 340,000 431 65.474 291,192 40&905 Uabiiities Creditors falling due within one year Loans payable 15,441) 1250,0001 124,6041 1250.0001 13 <255,4411 1274.8041 Net current assets 35,751 131,301 Totalass•ts less current liabllltles 4.881,344 &187,215 The funds of the charity Restricted funds Unrestricted funds 2,680 4,878,664 4,880 5.182,335 Total chaylty funds 4,881,344 5,187,215 Slgned on behalf of the Trustees and authorised for issue by.. Lord Rockiey Trust Date: l IW

The Rockley Charitable Trust

Notes to the accounts for the year ended 31 December 2022

1 Accounting policies

1.1 General information

The Rockley Charitable Trust is an unincorporated trust, constituted under a charitable trust deed dated 5 March 1969. It is registered with the Charity Commission in England & Wales (No. 258454). The address of the principal office is Lytchett Heath, Poole, Dorset, BH16 6AE.

1.2 Basis of preparation

The accounts have been prepared in accordance with 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 accounts have been prepared under the historical cost convention, as modified to include the revaluation of certain assets.

The trustees confirm that the charity is a public benefit entity as defined by FRS 102.

The accounts are prepared on a going concern basis; there are no material uncertainties about the charity's ability to continue as a going concern.

1.3 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objects of the charity and which have not been designated for other purposes.

Restricted funds are available to charitable causes based in the Lytchett Matravers Community. If any balance remains in the restricted fund on 1 January 2027, any restricion will fall away and these funds will be added to the General fund of the Rockley Charitable Trust.

1.4 Income recognition policy

Investment income is credited to the statement of financial activities in the period in which it is receivable. Interest is credited in the period in which it is receivable.

1.5 Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be recovered and is reported as part of the expenditure to which it relates.

Costs of raising funds consists of investment management fees.

Grants payable are payments made to third parties in furtherance of the charitable objects of the Trust. The grants are accounted for where the trustees have agreed to pay the grant without condition and the recipient has a reasonable expectation that they will receive a grant.

Support costs consist of costs not directly attributable to direct charitable expenditure but which are in respect of the general administration of the charity and overall management of the funds.

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The Rockley Charitable Trust

Notes to the accounts for the year ended 31 December 2022

1 Accounting policies

(Continued)

1.6 Investments

Fixed asset investments are stated at market value at the balance sheet date. All investments held are quoted on a recognised stock exchange. Realised and unrealised gains or losses are recognised in the statement of financial activities. Realised gains or losses are the difference between disposal proceeds and the opening market value (or original cost if purchased during the year). Unrealised gains or losses are the difference between the market value at the year end and the opening market value (or original cost if purchased during the year). Realised gains and losses are not separated in the statement of financial activities.

Current asset investments are stated at cost, less accumulated impairment, at the balance sheet date.

1.7 Financial instruments

The charity only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like debtors and creditors and loans from related parties.

2 Investment income

2 Investment income
Dividends Bank interest receivable Loan interest receivable 3 Donations and legacies Donations - Restricted fund Donations - Unrestricted fund	2022 £ 74,081 390 8,017 82,488 2022 £ 50 - 50	2021 £ 67,899 - 4,625
		72,524
		2021 £ 6,284 1,120
		7,404

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The Rockley Charitable Trust

Notes to the accounts for the year ended 31 December 2022

4 Total expenditure Costs of raising funds: Investment management fees Expenditure on charitable activities: Grants payable (note 5) Charitable activities: Governance costs (note 6) Bank charges Loan interest payable	2022 2021 £ £ 8,660 8,775 8,660 8,775 73,445 80,824 73,445 80,824 2,112 2,400 8 16 7,406 4,000 9,526 6,416 91,631 96,015

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The Rockley Charitable Trust

Notes to the accounts for the year ended 31 December 2022

5 Grants payable

Grants payable comprises grants to institutions for the following charitable purposes:

Unrestricted fund Care Children and youth Church and memorial Disability and welfare Education Environment and conservation Medical welfare (cancer related) Medical welfare (other) Military Musical Relief of need Rescue and safety Prior year donations unclaimed	2022 2021 £ £ 4,050 6,000 13,110 6,755 620 635 3,000 5,985 5,375 6,000 4,495 22,980 6,650 6,600 17,495 7,500 8,000 500 600 600 5,650 11,365 2,150 6,000 71,195 80,920 - (1,500) 71,195 79,420

Restricted fund

Grants payable comprises grants to individuals for the following charitable purposes:

Relief of need Reconciliation of grants payable Commitments at 31 December 2021 Commitments charged to the statement of fnancial activities Grants paid during the year Commitments at 31 December 2022 (see note 12)	2,250 1,404 73,445 80,824 20,000 - 73,445 80,824 (93,445) (60,824) - 20,000

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The Rockley Charitable Trust

Notes to the accounts for the year ended 31 December 2022

6 Governance costs Independent examiner's fees Legal fees	2022 £ 2,112 - 2,112	2021 £ 1,920 480
		2,400

7 Trustees

Neither of the trustees (or any persons connected with them) received any remuneration or were reimbursed any expenses during the year (2021: £nil).

8 Employees

There were no employees during the year (2021: none).

9 Fixed asset investments Market value at 1 January 2022 Acquisitions at cost Disposals at carrying value Change in value in the year Market value at 31 December 2022 Investments at market value comprised: Equities Bonds Multi-asset funds Alternatives Cash held within investment portfolio Portfolio total	2022 £ 5,055,914 305,208 (344,828) (170,701) 4,845,593 4,500,051 119,456 20,729 205,357 4,845,593 29,992 4,875,585	2021 £ 4,369,377 306,776 (299,477) 679,238
		5,055,914
		4,724,958 98,022 21,541 211,393
		5,055,914 20,732
		5,076,646

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The Rockley Charitable Trust

Notes to the accounts for the year ended 31 December 2022

10 Current asset investments Unlisted investments 11 Debtors Loan interest receivable 12 Creditors Loan interest payable Investment management fees Grants payable (see note 5) Independent examiner's fees 13 Loans payable Bank loan	2022 £ 232,500 2022 £ 8,448 2022 £ 1,164 2,165 - 2,112 5,441 2022 £ 250,000	2021 £ 340,000
		2021 £ 431
		2021 £ 384 2,300 20,000 1,920
		24,604
		2021 £ 250,000

14 Related parties

Included within current asset investments is a loan of £250,000 to Breast Cancer Haven. The loan accrues interest on a daily basis at a rate equal to the aggregate of Base Rate and a margin of 1.75% per annum. Lord Rockley is a trustee of Breast Cancer Haven.

A provision of £62,500 has been included against this loan during the year.

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The Rockley Charitable Trust

Notes to the accounts for the year ended 31 December 2022

15 Fund analysis

Restricted funds Unrestricted funds Balance at 1 January 2022 £ Restricted funds 4,880 Unrestricted funds 5,182,335 Total funds 5,187,215	Net Fixed current Fund assets assets balance £ £ £ - 2,680 2,680 4,845,593 33,071 4,878,664 4,845,593 35,751 4,881,344 Balance Net losses on at 31 Income Expenditure investmentsand December 2022 £ £ £ £ 50 (2,250) - 2,680 82,488 (89,381) (296,778) 4,878,664 82,538 (91,631) (296,778) 4,881,344 write down of loans receivable	Fund balance £ 2,680 4,878,664
		4,881,344
		4,881,344

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