evelyn PARTNER The Rockley Charitable Trust Chaflty Qègislratitsn Nio., 358454 Trustees. report and unaudited accounts For the year ended 31 December 2023 The Rockley Charltable Trust Legal and administrative information Trustses Lord Rockley The Hon Wilknam E Cecil Charfty numbor 258454 Prlnclpaladdress Lytchell Heath Poole Dorset 8H16 6AE Accountants Evelyn Partners LLP Accountants Old Library Chambers 21 Chipper Lane Salisbury Wiltshire SPI IBG Independont oxamlner Julie Mutton FCA CLA rvelyn Partners Limlted Old Library Chambers 21 Chippgr Lane Sailsbury Wiltshire SPI IBG Bankers Coutts & Co 440 Strand London WC2R OOS Investment advlso¥s Cazenove Capital l London Wail Place London EC2Y SAU The Rockley Charitable Trust Contents Trusle&s' report Independent examiner's report Stslement of financial activities 8aiance sheet Notes to the accounts 7-14 The Rockley Charitable Trust Trustees. report for the year ended 31 December 2023 The trustees present their annual report together w￿h the accoL4nts of the charity for the year ended 31 December 2023. The accounts comply with the Charities Act 2011 and Accounting and Reportlng by Charities.. Statemènt of Recommended Practice appL4'cable to charities preparing their accounis in accordance with the Financial Reporting Standard appbcabl@ in the UK and Republic of Iretsnd IFRS 1021 leffective l January 20191. ObJe¢ts and a¢tfvitle$ The charity's tsbjects are lo hold Income and capitsl to apply for purposes which are exclusively charitable. The policies adopted in furtherance of these objects are to make charitable donations from thè income of the trust. Truste￿ may atso pay whole o¥ part of the capitsl ts any charitable foundation. The trustees will continue to support the work of charities. voluntary orgarnisations and indlvidua&. Investmentpolky The trustees have a portfollo of ￿'Sted investments that had a market value of £5.125.537 12022.. £4.845.5931 al 31 Dpcémber 2023. The trustees receive investment advice from Cazenove Capitsl. The trustees have wlde powers of investment and are Investing for a balanced return. Publk benefit The Irustees have consideréd the guidance provtded by the Charity Commission with regard to rneeling the publlc benefit objective As all donab'tsns are made to registered charities. charitable entitl￿ which do not require to be registered with the Charity Commission. or lo individuals which meet the charity's objecls noted above, the trustees believe that The Rockley Charitable Trust Is acting for Ihe benefit of th@ publi A¢hle¥ements and performance Grunts The charity mado 35 12022.. 311 grants acro￿ the sectors as d9tailed in note S. Thgse have been made Sn line with Ihe charity'5 objects R•sultsfvr theyqar The financial acb'vilies are summari5ed on page 5 of the accounts During ihe year. the trustees had net expenditure before gain5 on investments of É12.877 12022. net expenditure of £9.0931 having made granls totalling E59,29612022'. Én.4451. The trust's investment portfo￿￿ increased in value year-on-year by £279.944 The Rockley Charitable Trust Trustees, report for the year ended 31 December 2023 As the first lockdown began. the residents of Lytchetl Matravers established a community group. the Lytchétt Mairavers Ange￿. lo help those affected by the virus. This was to support the residents with shopping and prescription collections, check in and chat lo those isotaled and provide food aid to those in need. As a parl of this a special relief fund was raised to provide emergency funds to h91p residents cope with daily tsving expenses. support home-schooling. increa*s in uliiity bills whitst they work from home and furlough or redundancy. As the needs of the resdents redLJcÉd as life r&lurned to a level of normality in the autumn of 2021. the work of Lyichett Matravers Angels was wound down. The remaining funds in the relief fund were transferred lo the Rockley Char1table Trust lo be held in a r￿triCted fuTKI to be spent on suitable chbritable causes which are likely lo be Lytchelt Malravers Community based. Reser￿$ poll¢y The trustees will maintain reserves al a sufficient level lo enable donations to be rrAde within Ihe scope of the income re￿iVed each year, with any surplus being added to reserves, Related partleg Included within current asset investments is a loan of £250,000 to Breast Cancer Havèn. The loan accrued interest on a daily basis èt a rate equal to the aggregate of the Basè Rote and a margin of 1.75Y per annum Lord Rockley was 6 trustee of Breast Cancer Haven during the year before resigning on 10 February 2023, A provision of £62,500 was included against this loan in the accounts for the year ended 3t December 2022. A revèrsal of E45,000 of Ihis provision has been included in the account5 this ye leaving a net investment of £232.500. During the year ended 31 Decembgr 2023. Breast Cancèr Haven wenl into Ilquidation Based on best estimat@s at the date of signing these a¢counts. the amount anticipated lo be recovered is £235.932 which has been shown as the loan Inet of the above provision) of £232.500 and interest of £3,432. The difference between the interest previously accrued and the amount now expected to be recovered is £5,016 which has been shown in nole 2. Structure, governance andmanagen￿￿t The charity is an unincorporated trust, constituted under a charltable Irusl d*d dated 5 March 1969 by The Rt Hon Robert Willram Evelyri Saron Rocktey and is registered with the Charity Commission. number 258454 The trustees who served during thè year were.. Lord Rockley The Hon William E. Cecil The pow&r ofappolnting new trustees Is vested with the trustee& stmrturn The day to day administration of the trust Is carried out by Lord Rockley. The trustees have the power lo invèst in any investments or any property, or interests in property, of whatsoever kind (real or personaD in any parl of the world. Rlsk fvctors The trustees have reviewed thè risks to the charity's assets ancj are satisfied that adequate controls are in plac&. The Rockley Charitable Trust Trustees. report for the year ended 31 December 2023 Truste¢s' rosp•nslbllltle$ The trustees are r6sponsible for preparing the Trustees. report and the accounts in accordance with applicable law and regulations. The Law applicable to charities in England and Wales requires Ihe trustees to prepare accounts for each financial year in accordance wllh Unlted Kingdom Generally Accepted Accounting Practice (United Kingclom Accounting Standards and applicable reguiationsl. Undei that law the trust*s must not approve the accounts unless they are satisfied that they give a true and fair vi&M of the State of affairs of the trust and of the incoming resources arid application of resources of the trust for that year. In Preparing these accounts. tho trustees are requir￿1 to.. select suitable accounting policies and then apply them Consistently,, obserye the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent., stsle whether applicable accounting standards have been followed, subject to any maierial departures disclosed and gxplained in the account& and prepare the accounts on the going concern basis unless IÈ is inappropriate to presume that the clkarity will continue in operation. The trustees are responsible for keeplng proper accounting records which are sufficent to show and @xplain the Irusl's tfansactions and disclose with reasonable accuracy al any time the financial position of the trust and enable them to ensure that the accounts comply with the Charities Act 2011, the Charities re galns/11055esl Investments IIL466) IIAII) (12,8771 19.0931 Net gains/llosses) on investments Writ8 down of loans Teceivable Write back of loans receivabL@ 298,776 (45.0001 4S,000 298,776 1189,2781 (45,0001 1107.5001 45,000 Net movemènt In funds 287,310 11,4111 285.899 1305,871) R•conclUatk>n of funds: Totsl funds brought forward 4,878.664 2,680 4.881,344 5,187.215 Total funds carrled forward 5,165.974 1,269 5,167,243 4.881.344 All incoming resource5 and reswrces expended derive from continuin9 activities. The notes on pag8s 7 to 14 form parl Df the accounts. The Rockley Charitable Trust Balance sheet as at 31 December 2023 2023 2022 Notes Flxed assets Investments 5.125.537 4.845.593 Current a$set$ nveslments Debtors Cash at bank and in hand 232,500 3,432 75,462 232.500 8.448 50.244 li 311.394 291.192 Creditors falling due withln one year Loans payable 12 13 119,688> 1250,000) 15.4411 1250.0001 1269,6881 1255.441) Net current assets 41.706 35.751 Total ass•ts ioss currgnt IlablUtI•s S,167.243 4.881.344 Th• funds o+ th• eharlty Restricted funds Unrestricted funds 1,289 5,165,974 2.680 4,878.664 Total charlty funds 5,167,243 4.88L344 Signed on behalf of the Truste* and aUthor￿Sed for issue by.. Lord Rockiey Trustee Date". * (Lo¥ Tho notas on pages 7 10 14 form part of the accoLJnts. The Rockley Charitable Trust Notes to the accounts for the year ended 31 December 2023 Accountlng pollcl&s Ll G•neralknfonnatlon The Rockiey Charitsble Trust ￿S an ulliricorporatéd trust. constituted under a charitable trust deed dated 5 fvlarch 1969 It is registered with the Charity CommiSs￿ll in England & Woles INO. 2584541. The address of the princip31 office Is Lylchett Hèath, Poo18. Dorsel. 8H16 6AE. 1.2 Basls of pveparatlon The accounts have been prepared in accordance with Accounting and Reporting by Charities.. statomgnt of Rècommended Practice applicable to charities preparing their accounts in accordanc8 with the Financlal Reporting Standard app14'cable in the UK and Republic of IreLand IFRS 1021 (effective l January 20191 The accounts have be￿ prepared under the hislorical cost convention, as modlfied to include the revaluation of certain assets. The trustees confirm that the charity is a publlc benefit entity as defined by FRS 102 The accounts arp prepared on a going concern basis,. there are rKJ material uncertsinties at)oul thg charity's ability to continue as a going concern. 1,3 Fund accounllng General furnds are unrestricted funds which are available for use at the discretion of the trustèes in furtheran￿ of the general objects of the charlty and whlch have not been designatecj for other purposes. Restrlcled funds are availablg to charitable caus95 based in the Lyt¢helt Malravers Community any balance remains in Ihe restricled fLJnd on l January 2027. any restrit10n will fall away and these funds will be added to the General fund ofthe Rocklèy Charitsble Trust 1.4 Incorne ￿cognItIon poll Investment income is credited lo thè statemenl of financial activities in the period in which it is receivablè. Interest is credited in the period in which tt is receivable. 1.5 £xpendlturo Expenditure is recognised on an accruals basis as a bability is incurred. Expenditure includes ony VAT which cannot be recovered and s reported as part ofthe expendtture to which it relates. Costs of raising funds consists of investmernt managemènl fees. Grants payable are paymenL5 made lo third parties in furtherance of the charilable objects of thè Trust. The grants are accounted for where the trustees have agreed to pay Ihe grant withoul condition and th@ recipient has a reasonable expectation that they will receive a grant. Support costs con51St of cosis not directly attributable to direcl charilable expendilure bul which are in respect of the general administration of the charily and overall management of the funds The RockLey Charitable Trust Notes to the accounts for the year ended 31 December 2023 A¢¢¢untlng pollcles Icontlnuedl 1,6 Inv•stments Fixed assét investments are stated at market value at the batance sheet date. All investments held are quoted on a recognised stock exchange. Realised and unreallsed gains or losses are recognised in the stal8menl of financial aclriities. Realiged gains or losses arè the drfference between Llisposal proceeds and the opening market value lor original cost if purchased during the yearl. Ullrealised gains or losses are the difference between the market value al the year end and the opening market value lor original cost if purchased during the yearl. Realisgd gains and losses are not separal8d n the stalemÈnt of financial activities Current asset invostments are stated at cost. less accumulated impairmenL at the balance sheet date. 1.7 Flnanclal Instn4ments The charity only enters into basic financial instrument transactlons t￿t result in the recognition of financialassets and liabilities like debtors and creditors and loans from related parties Investment In¢ome 2023 2022 Dividends Bank interest receivable Loan interest receivable Loan Interesl receivable- adjustment to accrued interest in prior year 76.330 796 74.081 390 8.017 15,0161 72,110 82.488 Donatlon5 and iegacles 2023 2022 Donations- Restricted fund 130 50 130 50 The RockLey Charitable Trust Notes to the accounts for the year ended 31 December 2023 Yota(expendlture 2023 2022 Costs of rahlng funds: Investment management fees 8,553 8.660 8.553 8,660 Expendlture on tharltable aCti￿tIes.. Grants payable (note Sl 59.296 73.445 59,296 73.445 Chailtable actlvitles Governance costs Inote 61 Bank charges Loan intergsL payable 2,112 12 15,144 2.112 7,406 17,268 g,$26 85,117 91.631 The Rockley Charitable Trust Notes to the accounts for the year ended 31 December 2023 Gpants payable Grants payablo comprisos grants to instltution5 for Ihg foilowlng charitable purposes. 2023 2022 Unmstrlctod fund Care Children and youth Church and memorial Disatylily and welfare Education Environm8nt and conservation Medical welfare (cancer relaledl Medicalwelfare lotherl Military Musical Relief of need Rescue and safety Olher 1,600 24.150 35 1,390 7.900 2,480 9.000 4,050 13,110 620 3.000 5,375 4.495 6.650 17.495 8,000 600 5.650 2.150 600 7,700 1,000 2,000 57,756 71.195 Rèstricted fufid Grants payable comprises grants to individuals for the following charitable purposes,. Relief of nèed 1.541 2.250 69,296 73.445 Reconclllatl•n olgrants payèbie Commitments at 31 December 2022 Commitments charged lo the slatemenl of financialactivilies Grants paid during the year 20,000 73.445 193.4451 59,296 145,2961 Comrnitmenls at 31 December 2023 (see riole 121 ,000 -io- The RockLey Charitable Trust Notes to the accounts for the year ended 31 December 2023 Govema•ce costs 2023 2022 Independènt examiner's fe&s 2,112 2,112 2,112 2,112 Tnstees Neither of the trustees lor any persons connected with Ifeml received any remuneration or were reimbursed any expenses during Ihe year12022 £nill. Employefys Ther& were no ernployees during the year12022 nonel. Flxed asset Invastments 2023 2022 Market value at l January 2023 Acquisitions at cosl DisposaÈ at carrying valu& Change in value in the year 4,845,593 240,614 (252,9511 Z92,281 5,055.914 305,208 1344.8281 1170,7011 Market value at 310oeember 2023 5,125,537 4.845.593 Investments at market value comprls8d: Equities Bonds Multi-assèt funds Alternatives 4,780,299 138,060 17,498 189,680 4.500,051 119.456 20.729 205,357 5.125,537 36,968 4.845.593 29.992 Cash held within Investment por1f0￿0 Porlfolio total 6,162.505 4,87S585 The Rockley Charltable Trust Notes to the accounts for the year ended 31 December 2023 10 Curvent assèt Investments 2023 2022 unlist￿ Investments 231500 232.500 11 Debtors 2023 2022 Loan inleresl receivable 3,432 8.448 12 Credltors 2023 2022 Loan Interest payable Investment management fees Grants payable Isee note Sl Independent examiner's fees L418 2,158 .000 2.112 L164 2.165 2,112 19,688 5.441 13 Loans payable 2023 2022 Bank Ioart 250,000 250.000 The Rockley Charitable Trust Notes to the accounts for the year ended 31 December 2023 14 Related partles Included within current asset investments is a loan of £250.000 to Qreast Cancer Haven. The loan accrued intevest on a daily basis al a rate equal to the aggregate of the Base Qate and a margin of 1.75% per annum, Lord Rockley was a trustee of 8reast Cancer Haven durlng the year before reygning on 10 February 2023. A provisiowi Of £62.500 was included against this loan in the accounts for the year ended 31 Decembèr 2022. A reversal of £45,000 of this prowsiors has been Included in the accounts this year leaving a net Investment of £232.500. During the year ended 31 December 2023, Breast Cancer Haven went into liquidation. Based on best estimates al the date of Signing these accounts, the amount anliciF)aled to be recovered is £235,932 which has been shown as the loan (net of the above provlsionl of £232.500 and interest of E3,432. Th difference between the intèrest previously accrued and the amount now expected to be recovered is £5,016 which has been shown in note 2, 13. The Rockley Charitable Trust Notes to the accounts for the year ended 31 December 2023 IS Fund analysls Fl¥ed assets currènt assets Fund balance Restylcted funds Unrestrlcted ￿n(ts 1,269 40A37 1,269 5,165,974 5.125,537 S.125￿37 41.706 5,167,243 8alance at31 DKember 2023 Balance at ljanuary 2023 Net galn5 on Income Expendlture Investmenls Restricted funds Unrestrlcted funds 2,680 4,878.664 130 72,110 11.54 183,576> 1,269 5.165.974 298,T16 Totalfunds 4.881,344 72.240 185,1171 298,T76 5.167.243 14-