The Peter Courtauld Charitable Trust
Dated 11 April 1969
(Charity Commission No. 258827)
Accounts
for the year ended 5 April 2022
Trustees’ Annual Report for the year ended 5 April 2022
Reference and Administrative details
Name of the Charity: The Peter Courtauld Charitable Trust Charity Registration No.: 258827 Trustees: Sylvia May Courtauld Simon Pierre Courtauld Farrer & Co Trust Corporation Limited The present directors of Farrer & Co Trust Corporation Limited are: J H Carleton (Resigned 5 January 2023) B L A Cove D E Davidson W J A Gordon S P Graham (Resigned 7 June 2022) A M L Hollingshead C A Kirby R Mainwaring-Taylor C M McAleavey R S McDermott O I G Piper S J Pring J A V Smith A A G Turner S S Von Schmidt Auf Altenstadt S P Shah K N Dunnell L R C Horwood (Appointed 7 June 2022) S H J MacDonald (Appointed 28 June 2022) I R M Paintin (Appointed 13 December 2022) J C Ridgway (Appointed 13 December 2022) Principal Office address: Heath Knapp Cottage Etchilhampton Devizes Wiltshire SN10 3JU Reporting Accountants: Mercer & Hole Trustees Ltd 21 Lombard Street London EC3V 9AH Independent Examiner: Steve Robinson FCA Mercer & Hole LLP 21 Lombard Street London EC3V 9AH
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Trustees’ Annual Report for the year ended 5 April 2022 (continued)
Structure, Governance and Management
| Governing Document: The principal governing document is a Charitable Trust Deed dated 11 April 1969. It is a private Charitable Trust controlled by its trustees. Settlor: Peter Courtauld Appointment of trustees: The power of appointing new or additional trustees is vested in the current trustees. The trustees meet at least once annually and at such other times as they see fit. The trustees are advised by their professional advisers as and when necessary, on any developments affecting the charity. Investment Powers: The trustees have wide powers of investment, including power to invest in the name of nominees. Management and Control: Mr Simon Courtauld has control and overall responsibility for the day to day management of the charity. Risk management: The trustees have assessed the major risks to which the charity is exposed and are satisfied they are not exposed to any significant risks other than fluctuation in the value of their investment portfolio. Objectives and Activities Summary: The objectives of the charity are that such of the income and capital of the trust fund shall be paid or applied for the benefit of such charitable foundations or purposes as the trustees may from time to time determine. Summary of the main The trustees’ general policy is to distribute each year the income activities in relation to as it arises. From time to time they may also distribute capital. objectives: The trustees receive applications for grants and consider each one of the applications at their formal/informal meetings. During the year the trustees have made 13 grants totalling £28,500 (2021: £24,000). Grant making policy: The trustees’ policy is to distribute the available income of the trust for the benefit of registered charities which they consider the settlor, Mr Peter Courtauld, would have wished to support. They also give consideration to local charities operating in parts of the country with which Mr Courtauld, or other members of the Courtauld family, had or have associations. Public Benefit: In applying such income and capital, the trustees are supportive of such charitable causes that are for public benefit. Each year the trustees review their objectives to reflect their aims. In carrying out this review, the trustees have considered the Charity Commissioners general guidance on public benefit. |
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Trustees’ Annual Report for the year ended 5 April 2022 (continued)
Financial Review
Reserves Policy: The trustees’ policy is to make grants in accordance with the policy above. At the yearend reserves were £180,052.33 (2021: £180,743).
The trustees aim to distribute the income received each year. Thereafter the level of reserves will remain at a similar level.
Plans for Future Periods: The trustees expect to carry on distributing income on a similar basis in future years.
DECLARATION:
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
Signature:
Full name : SP Courtauld
Position: Chairman of the Trustees
Date:
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Trustees’ Annual Report for the year ended 5 April 2022 (continued)
Independent examiner’s report to the Trustees of the Peter Courtauld Charitable Trust
I report to the Charity trustees on my examination of the Trust for the year ended 5 April 2022 which are set out on pages 1 to 7.
Responsibilities and basis of report
As the charity trustees of the Trust 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 Trust’s accounts carried out under section 145 of the 2011 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:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not 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 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 across 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.
Signed:
Steve Robinson FCA Mercer & Hole LLP 21 Lombard Street London EC3V 9AH
Date:
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The Peter Courtauld Charitable Trust
Balance sheet
5 April 2022
| £ Fixed Assets 40,822 Charifund Income Units at cost (market value £644,563: 2021 £600,888) Current Assets Cash balances: Natwest Business Reserve account 2,226.33 Natwest Current account 100.00 Current Liabilities Legal and Professional - Net Assets Representing: Total unrestricted funds Approved ............................................................. Simon Courtauld Approved ........................................................... Sylvia Courtauld Approved ........................................................... Director of Farrer & Co Trust Corporation Date 2022 |
£ 177,726.00 2,326.33 - 180,052.33 180,052.33 |
£ £ 177,726 5,557 100 5,657 ( 2,640) ( 2,640) 180,743 180,743 2021 |
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The Peter Courtauld Charitable Trust
Statement of Receipts & Payments
For the year ended 5 April 2022
| 2022 £ Receipts Distributions due 28 May 8,776.73 31 August 7,347.96 15 December 9,389.06 28 February 5,102.75 Bank deposit interest (gross) Payments Charitable: - 2,500.00 2,500.00 2,500.00 - 1,500.00 2,500.00 - 1,500.00 - - - - 2,500.00 - Prisoners of Conscience 1,500.00 Prior's Court 2,000.00 Smile Train UK 1,500.00 Samaritians - Stroke Association 2,500.00 The Hydration Foundation 2,500.00 Tunbridge Wells Hospital - Bobby Van Trust Batten Disease FA Blind Veterans UK Camphill Carers Trust Childrens Air Ambulance Crisis UK Diabetes UK Goalball UK Hearing Dogs Inspire Foundation Leonard Cheshire Disability Marie Curie Cancer Care Motor NeuroneDisease Association Prospect Hospice UNICEF 3,000.00 Legal and Professional: Surplus/(Deficit) on Receipts and Payments account Balance brought forward at 6 April 2021 Balance carried forward at 5 April 2022 |
£ 30,616.50 1.20 30,617.70 ( 28,500.00) ( 2,808.00) ( 690.30) 180,742.63 180,052.33 |
£ £ 7,756 6,940 6,940 4,695 26,331 3 26,334 1,500 - - - 3,000 - - 3,000 - 2,000 3,000 3,000 3,000 - 1,000 - - - 3,000 - - 1,500 - ( 24,000) ( 2,676) (342) 181,085 180,743 2021 |
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The Peter Courtauld Charitable Trust
Notes to the accounts
5 April 2022
1. Categorisation of Donations
£
Community development (2) 4,500.00 Health (5) 11,500.00 Human services (6) 12,500.00
28,500.00
2. Accounting policy
These accounts are prepared on a Receipts and Payments basis.
3. Employees
The charity had no employees during the year.
4. Trustees' remuneration and expenses
During the year the trustees' remuneration and reimbursed expenses were nil.
5. Transactions with related parties
There were no transactions with any related parties during the year.
6. Analysis of net assets between funds
| Unrestricted | Fixed Assets £ 177,726 |
Net Current Assets/ (Liabilities) Total £ £ 2,326 180,052 |
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Funds may be applied at the discretion of the trustees for achieving the objects of the charity as set out in the Deed.
| Net Current | |||
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| Fixed | Assets/ | ||
| Prior year comparative | Assets | (Liabilities) | Total |
| £ | £ | £ | |
| Unrestricted | 177,726 | 3,017 | 180,743 |
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