2022-04-05-accounts - The Midwood Mcturk Trust

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THE MIDWOOD McTURK CHARITABLE TRUST

REPORT AND ACCOUNTS

YEAR ENDED 5TH APRIL, 2022

CHARITY REGISTRATION NUMBER: 258810

RAWSE, VARLEY & CO

Chartered Accountants Bradford

THE MIDWOOD McTURK CHARITABLE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL, 2022

The Trustees present their Annual Report for the year ended 5th April, 2022 together with the financial statements for the year.

Reference and Administrative Information

Trustees:	John Andrew Vaizey Wade Esq
	Mrs Sophie Rebecca Pringle
	Dr. Tamsin Lucy Josty
Registered Office:	Moor House
	Burley Woodhead
	Ilkley
	LS29 7BE
Bankers:	Bank of Scotland
	33 Old Broad Street
	London
	EC2N 1HW
Investment Manager:	Investec Wealth & Investment Ltd
	3 Wellington Place
	Leeds
	LS1 4AP
Accountants:	Rawse, Varley & Co
	Lloyds Bank Chambers
	Hustlergate
	Bradford
	BD1 1UQ

THE MIDWOOD McTURK CHARITABLE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL, 2022

Structure, Government and Management

Governing Document

The Midwood Charitable Trust came into being under the terms of a Deed dated 14th March 1969 which was amended by a Resolution dated 31st October 2008 to merge with the Mary McTurk Charitable Trust.

Organisation

The board of Trustees are in contact regularly to administer the Charity.

Objectives and Activities

Under its provisions, the income and capital of the Trust are to be applied by the Trustees at their discretion to make donations for charitable purposes or to charitable institutions.

Achievements and Performance

The Trustees consider the surplus of income over expenditure to be satisfactory for the year.

Financial Review

Reserves Policy

It is the policy of the Charity to maintain unrestricted funds which are the free reserves of the Charity at a level which equates to at least one year's unrestricted expenditure on donations and grants and on administration expenses.

Grant making policy

The Trustees have exercised their discretionary powers during the course of the year to make donations of £17,105 (2021 - £7,130) to charitable institutions, all of which have been financed from the Trust income derived from stock market investments and from cash deposits.

Plans for future periods

The Trustees will continue to make donations principally to the charitable institutions which they have supported in previous years.

Accounting and Reporting Responsibilities

The Trustees are reponsible for preparing the Trustees' Annual Report and the Financial Statements in accordance with applicable law, the Charitable Trust Deed and United Kingdom Accounting Standards.

The law applicable to Charities in England and Wales require the Trustees to prepare financial statements for each financial year which gives a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources for that period. In preparing these financial statements, the Trustees are required to:

– Select suitable accounting policies and apply them consistently.

Observe the methods and principles in the Charities SORP.
Make judgments and estimates that are reasonable and prudent.
State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.

– Prepare the financial statements on a going concern basis unless it is inappropiate to presume that the Charity will continue in operation.

THE MIDWOOD McTURK CHARITABLE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL, 2022

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the Charity and hence for taking responsible steps for the prevention and detection of fraud and other irregularities

Approved by the Trustees and signed on their behalf by:

Andrew Wade, Chair of Trustees 11 January 2023

THE MIDWOOD McTURK CHARITABLE TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE MIDWOOD McTURK CHARITABLE TRUST

I report on the financial statements of the Midwood McTurk Charitable Trust for the year ended 5th April, 2022 which comprise the Income and Expenditure Account, the Balance Sheet and the related notes on page 7.

Respective responsibilities of the Trustees and the Examiner

The Charity's Trustees are responsible for the preparation of the Financial Statements. The Charity's Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsilbilty 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(5)(b) of the 2011 Act).
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 presented with those records. It also includes consideration of any unusual items or disclosures in the Financial Statements 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 Financial Statements 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 to indicate that:

Accounting records have not been kept in accordance with section 130 of the Act.
The Financial Statements do not accord with those records

• The Financial Statements fail to comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts gives a 'true and fair view' which is not a matter considered as part of an independent examination.

• In my opinion the matter should be drawn to the attention of the reader to gain a proper understanding of the Financial Statements.

J M Rawse FCA Rawse, Varley & Co Lloyds Bank Chambers Hustlergate Bradford BD1 1UQ

11 January 2023

THE MIDWOOD McTURK CHARITABLE TRUST

INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5TH APRIL, 2022

Income Donations 1 Distributions on Trust Investments 2 Expenditure Charitable Donations 3 Administration Expenses 4 Surplus / (Deficit) over Expenditure for the year Allocations Unrestricted Funds General Fund Income Fund Unrestricted Funds General Fund Balance brought forward Deficit for the year Balance carried forward Income Fund Balance brought forward Surplus for the year Balance carried forward	2022 £ 17,013 8,073 25,086 17,105 840 17,945 7,141 (840) 7,981 7,141 155,898 (840) 155,058 1,817 7,981 9,798	2021 £ - 7,204
		7,204
		7,130 809
		7,939
		(735) (809) 74
		(735) 156,707 (809) 155,898
		1,743 74
		1,817

THE MIDWOOD McTURK CHARITABLE TRUST

BALANCE SHEET AT 5TH APRIL, 2022

£ Fixed assets – Quoted Securities – UK Unit Trusts 103,857 Trustee Registered Investments 14,656 (Value at 5th April, 2022 – £246,641)(2021 – £221,648) Other assets – Watercolour Collection Current assets – Cash at Bank Represented by – Unrestricted Funds General Fund Income Fund	2022 £ 118,513 30,850 15,493 164,856 155,058 9,798 164,856	£ 103,857 14,656	2021 £ 118,513 30,850 8,352 157,715 155,898 1,817 157,715

The Financial Statements on pages 5 to 7 were approved by the Trustees on 11 January 2023 and signed on their behalf by Andrew Wade, Chair of Trustees.

The notes on page 7 form part of these Financial Statements.

THE MIDWOOD McTURK CHARITABLE TRUST

NOTES TO FINANCIAL STATEMENTS

YEAR ENDED 5TH APRIL, 2022

Donations received – Trustees of Mrs C.I. Wade's 1999 Discretionary Settlement and Trustees of J.L. Wade deceased, Will Trust - JAV Wade Fund Distributions on Trust Investments – UK Unit Trusts Trustee Registered Investments Donations to Charitable Institutions – Airedale Hospital & Community Charity – Airedale NHS Foundation Trust British Red Cross – Ukraine Appeal Cancer Research U.K. Christian Mercy Foundation, Malawi Clark Foley Centre Disasters Emergency Committee – Afghan Appeal Hope & Homes – Ukraine Appeal Hope for Tomorrow Leeds Cares – Leeds Hospital Charity Lifelites Macmillan Cancer Research Matthew's House, Swansea Medecins Sans Frontieres – Afghan Appeal Nell Bank Charitable Trust Opera North Limited PCC of The Church of the Holy Cross, Chatton, Alnwick PCC of Girlington, Manningham – St Paul's Church, Manningham Priory Church of St Mary & St Cuthbert, Bolton Abbey Raleigh International Trust Royal National Lifeboat Institute Skipton Baptist Church – Food Bank Appeal Tearfund Tŷ Hafan, Swansea – The Hospice for Children in Wales Yorkshire Air Ambulance Zane – Zimbabwe A National Emergency Aministration Expenses – Independent Examiner's remuneration Examination fee Other Accountancy fees Portfolio Management fee	2022 £ 17,013 3,442 4,631 8,073 200 1,000 1,000 3,830 - 2,500 1,000 500 250 1,000 - 1,000 1,000 - 500 25 - - 1,000 450 250 100 500 500 500 17,105 180 360 300 840	2021 £ -
		3,221 3,983 7,204 - - - 3,780 100 - - - - - 100 500 - 1,000 - - 650 500 - - - - - - 500 7,130 180 330 299 809