THE EVELYN NORRIS TRUST
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
THE EVELYN NORRIS TRUST
CONTENTS
| Page | |
|---|---|
| Legal and Administrative Information | 1 |
| Report of the Trustees | 2 |
| Independent Examiner’s Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes forming part of the Financial Statements | 7 |
THE EVELYN NORRIS TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
| REGISTERED CHARITY NUMBER | : | 260078 | |
|---|---|---|---|
| HON LIFE PRESIDENT | : | Dame Judi Dench | |
| CURRENT TRUSTEES | : | Nigel Jones | (Honorary Chairman) |
| Bryn Evans | (Honorary Treasurer) | ||
| Lord Cashman of Limehouse | |||
| Nigel Gooch | |||
| Caryl Griffith | |||
| Dawn Hope | |||
| Adam Knight | |||
| Linden Walcott-Burton | |||
| Barbara Whatley | |||
| ADMINISTRATOR | : | Kaethe Cherney | |
| REGISTERED ADDRESS | : | Plouviez House | |
| 19-20 Hatton Place | |||
| London | |||
| EC1N 8RU | |||
| INDEPENDENT EXAMINER | : | Mrs Jacqui Lee Foster | |
| 31 Gellatly Road | |||
| London | |||
| SE14 5TU | |||
| INVESTMENT ADVISERS | : | Charles Stanley and Co | Ltd |
| 55 Bishopsgate | |||
| London | |||
| EC2N 3AS | |||
| BANKERS | : | HSBC Bank plc | |
| 431 Oxford Street | |||
| London | |||
| W1C 2DA |
1
THE EVELYN NORRIS TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
The trustees present their report together with the financial statements of the trust for the year ended 31 December 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust deed, applicable law and the requirements of the Charities SORP (FRSSE) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities (the FRSSE) (effective 1 January 2015).
OBJECTIVES AND ACTIVITIES
The income of the trust is applied for the purpose of distributing monies for the rest, recovery, recreation and holiday of members of the concert and theatrical professions as the trustees shall think fit.
The trustees have had regard to the Charity Commissioners’ guidance on public benefit. They consider that the welfare payments made to beneficiaries of the fund fulfil the public benefit requirement.
The trustees receive monthly briefings and consider what grants to make. The trustees have many contacts in the United Kingdom and use knowledge gained to support the work of the charity and ensure informed grant making.
The trustees decide to make grants after receipt and assessment of a formal application, indicating a need for funds.
The trustees appreciate feedback on the effect of the grants given and the achievements made. These comments are used to monitor the quality of the grants made.
The trustees intend to continue providing grants in a similar way and to rely on both their own endeavours and those with whom they have a working relationship to carry out the objects of the trust.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The trust was established by deed on 11 September 1968 and is subject to a variation approved by the Charity Commissioners on 13 November 1986.
The trust is based in the United Kingdom at the registered office shown on page 1.
The power to appoint any new trustee is vested in the existing trustees whose names are set out on page 1.
The trustees conduct a risk assessment annually to review the major risks faced by the trust. The trustees are aware of the risks associated with making repeated grants to beneficiaries. Procedures have been instituted to reduce risk in this area.
ACHIEVEMENTS AND PERFORMANCE
28 (2020: 49) individual grants and two (2020: two) institutional donations were made by the trust during 2021.
FINANCIAL REVIEW
The funds of the charity have increased by £223,457 (2020: decreased by £58,572) arising from gains on investments during the year. An analysis of the assets held by the fund, the majority of which consists of an investment portfolio, is set out in note 8 to the accounts. Regular investment review meetings are held with the investment advisers.
2
THE EVELYN NORRIS TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
STATEMENT OF TRUSTEES’ RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS
The charity’s trustees are responsible for preparing the annual report and financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Charity law requires the trustees to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the charity at the end of the financial year and of the incoming resources and resources expended during the financial year.
In doing so the trustees are required to:
-
a Select suitable accounting policies and apply them consistently;
-
b Observe the methods and principles in the Charities SORP (FRSSE);
-
c Make judgements and estimates that are reasonable and prudent;
-
d State whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
e Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue to operate.
The trustees are also responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with relevant legislation. The trustees 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.
The trustees confirm that so far as they are aware, there is no relevant information of which the charity’s independent examiner is unaware. They have taken all the steps that they should have taken as trustees in order to make themselves aware of any relevant information and to establish that the charity’s independent examiner is aware of that information.
Approved by the trustees and signed on their behalf by:
.………………………………………………………………
18 April 2022
3
THE EVELYN NORRIS TRUST
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE EVELYN NORRIS TRUST
I report on the financial statements of the trust for the year ended 31 December 2021 which are set out on pages 5 to 12.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
As described on page 3 the trustees are responsible for the preparation of the financial statements. You 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 responsibility to:
-
a examine the accounts under section 145 of the 2011 Act,
-
b to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act), and
-
c to state whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINER’S REPORT
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from you as 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. The report is made solely to the trustees and is limited to those matters set out in the statement below. To the fullest extent permitted by law I do not accept or assume responsibility to any one other than the trustees for my work, for this report or for the opinions I have formed.
INDEPENDENT EXAMINER’S STATEMENT
In connection with my examination no matter has come to my attention:
-
a which gives me reasonable cause to believe that in any material respect the requirements
-
i to keep accounting records in accordance with section 130 of the Charities Act 2011; and
-
ii to prepare financial statements which accord with the accounting records and to comply with the accounting requirements of the Charities Act 2011 have not been met; or
b to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Mrs Jacqui Lee Foster 31 Gellatly Road London SE14 5TU
11 August 2022
4
THE EVELYN NORRIS TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| INCOME AND ENDOWMENTS FROM: Donations and legacies Investments TOTAL EXPENDITURE ON: RAISING FUNDS Investment manager’s fees CHARITABLE ACTIVITIES Grants and donations OTHER TOTAL NET (EXPENDITURE)/INCOME TRANSFER BETWEEN FUNDS OTHER RECOGNISED GAINS Gain on foreign exchange Gains(losses) on investment assets NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Notes 1 2 3 1 4 5 |
Endowment Fund £ - 21,695 |
Unrestricted Fund £ 25 8,429 |
Total Funds 2021 £ 25 30,124 30,149 8,066 26,050 2,507 36,623 (6,474) - (6,474) - 229,931 223,457 1,034,813 1,258,270 |
Total Funds 2020 £ 32,241 20,015 |
|
|---|---|---|---|---|---|---|
| 21,695 | 8,454 | 52,256 | ||||
| 5,809 - - |
2,257 26,050 2,507 |
7,208 37,180 2,297 |
||||
| 5,809 | 30,814 | 46,685 | ||||
| 15,886 (21,695) |
(22,360) 21,695 |
5,571 - |
||||
| (5,809) - 165,596 |
(665) - 64,335 |
5,571 15 (64,158) |
||||
| 159,787 745,296 |
63,670 289,517 |
(58,572) 1,093,385 |
||||
| 905,083 | 353,187 | 1,034,813 |
The notes on pages 7 to 12 form part of the accounts.
5
THE EVELYN NORRIS TRUST
BALANCE SHEET AS AT 31 DECEMBER 2021
| FIXED ASSETS INVESTMENTS CURRENT ASSETS Debtors Cash at bank and in hand TOTAL CURRENT ASSETS LIABILITIES CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Grants committed Accrued expenses NET CURRENT ASSETS TOTAL NET ASSETS THE FUNDS OF THE CHARITY Endowment fund Unrestricted fund TOTAL CHARITY FUNDS |
Notes 6 7 8 |
2021 £ 1,187,173 5,938 66,181 72,119 - 1,022 1,022 71,097 1,258,270 905,083 353,187 1,258,270 |
2020 £ 964,912 |
|---|---|---|---|
| 4,975 65,873 |
|||
| 70,848 | |||
| - 947 |
|||
| 947 | |||
| 69,901 | |||
| 1,034,813 | |||
| 745,296 289,517 |
|||
| 1,034,813 |
Approved by the Board of Trustees and signed on their behalf by:
…………………..……………………………..…..……… Trustee Date 18 April 2022
The notes on pages 7 to 12 form part of the accounts
6
THE EVELYN NORRIS TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021
1 PRINCIPAL ACCOUNTING POLICIES
Accounting Convention
The financial statements have been prepared under the historical cost convention as modified by the valuation of investments at market value and in accordance with the requirements of the Charities SORP (FRSSE) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities (the FRSSE) (effective 1 January 2015).
The principal accounting policies adopted in the preparation of the financial statements are as follows: -
Income and Endowments
Income is recognised in the period in which the charity is entitled to receipt and the amount can be measured with reasonable certainty. In the case of fixed interest investments, interest is accrued based on the number of days outstanding.
Expenditure
All expenditure is accounted for on an accruals basis. Governance costs represent costs incurred attributable to the management of the charity’s assets, organisation, administration and compliance with the constitutional and statutory requirements.
Fund Accounting
Funds held by the charity comprise an endowment fund the income from which, subject to the value of the endowment fund not falling below its established value of £333,616, is transferred to an unrestricted fund and can be used in accordance with the charitable objects at the discretion of the trustees.
2 DONATIONS AND RELATED PARTIES
The charity is a member of the Combined Theatrical Charities’ Appeals Council, a registered charitable organisation. One trustee represents the charity at meetings of the Council. During the year the charity received £Nil (2020: £32,000) from the Council as a share of donations collected in an appeal known as ‘Acting for Others’.
| 3 | INVESTMENTS Investment income from quoted investments |
2021 £ 30,124 30,124 |
2020 £ 20,015 |
|---|---|---|---|
| 20,015 |
7
THE EVELYN NORRIS TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021
| 4 5 |
GRANTS AND DONATIONS Grants to individuals Grants to residential homes Brinsworth House Denville Hall OTHER Trustees’ expenses Secretaries’ honoraria Information Commissioner’s Office Accountancy Independent examination Bank charges Advertising and Postage |
2021 £ 22,050 2,000 2,000 26,050 11 925 35 1,025 395 71 45 2,507 |
2020 £ 35,180 1,000 1,000 |
|---|---|---|---|
| 37,180 | |||
| - 850 35 947 375 90 - |
|||
| 2,297 |
One trustee (2020: none) received reimbursement of expenses. One trustee provides accountancy services to the trust in the normal course of his business.
8
THE EVELYN NORRIS TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021
| 6 | INVESTMENTS–ENDOWMENT FUND Equities 7,742 Anglo Pacific Group 277 AstraZeneca 2,665 Aviva 7,418 Bloomsbury Publishing 2,881 BP 2,359 Britvic 10,779 CT Automotive 821 Diploma 2,161 Discoverie 11,883 DWF Group 2,269 Electrocomponents 4,105 Genuit 1,656 GlaxoSmithKline 792 Goodwin 709 Halma 3,061 Hedlam 1,278 Hill and Smith 2,881 HSBC Holdings 396 Intel Corp 7,562 ITV 4,033 James Halstead 7,490 Kin and Carta 13,504 Kitwave 17,019 Lords 6,122 M and G 5,762 Marks and Spencer Group 7,922 NatWest 378 Novo-Nordisk 6,634 Peel Hunt 270 Pierer Mobility 1,350 Portmeirion 1,080 Prudential 234 Renishaw 9,723 RPS Group Carried forward |
Market Value £ 10,436 24,062 10,936 26,705 9,521 21,700 17,246 27,702 22,168 13,547 27,360 24,056 26,613 25,589 22,701 13,100 22,959 12,925 15,064 8,360 23,150 21,796 19,378 20,848 12,212 13,332 17,880 31,522 13,334 20,560 8,372 13,768 11,188 12,037 622,127 |
Cost £ 15,870 7,945 10,372 8,593 15,694 18,006 15,996 1,194 6,571 14,701 13,283 15,505 21,301 12,248 871 17,710 3,070 16,892 15,026 15,962 1,791 10,846 20,930 16,321 14,318 20,960 15,816 11,124 15,273 18,299 13,519 11,244 1,493 20,471 |
|---|---|---|---|
| 7,742 277 2,665 7,418 2,881 2,359 10,779 821 2,161 11,883 2,269 4,105 1,656 792 709 3,061 1,278 2,881 396 7,562 4,033 7,490 13,504 17,019 6,122 5,762 7,922 378 6,634 270 1,350 1,080 234 9,723 |
|||
| 439,215 |
9
THE EVELYN NORRIS TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021
| Brought forward 828 Schroders Non-Voting 162 Siemens 5,636 Smith (DS) 25,207 Speedy Hire 7,363 Stelrad 1,296 Superdry 4,681 Synthomer 3,691 Thorpe (F.W.) 6,842 TT Electronics 4,321 Unicorn Investments 20,166 Urban Logistics 5,402 Vodafone Group 3,601 Volution INVESTMENTS–UNRESTRICTED FUND Equities 3,008 Anglo Pacific Group 108 AstraZeneca 1,035 Aviva 2,882 Bloomsbury Publishing 1,119 BP 916 Britvic 4,187 CT Automotive 319 Diploma 839 Discoverie 4,617 DWF Group 881 Electrocomponents 1,595/ Genuit 644 GlaxoSmithKline 308 Goodwin 276 Halma 1.189 Hedlam 497 Hill and Smith 1,119 HSBC Holdings 154 Intel Corp Carried forward |
Market Value 622,127 19,091 20,701 21,629 15,981 15,903 3,597 18,706 18,123 17,515 17,939 37,710 6,063 19,914 854,999 4,055 9,348 4,249 10,375 3,699 8,430 6,700 10,762 8,612 5,263 10,629 9,346 10,339 9,941 8,819 5,090 8,920 5,021 5,853 145,451 |
Cost 439,215 8,820 9,889 20,254 19,009 15,981 15,535 14,570 915 16,552 17,170 20,364 8,817 6,959 |
|---|---|---|
| 614,050 | ||
| 6,165 3,087 4,030 3,338 6,097 6,995 6,214 464 2,553 5,712 5,160 6,024 8,275 4,758 339 6,880 1,193 6,562 5,837 |
||
| 3,008 108 1,035 2,882 1,119 916 4,187 319 839 4,617 881 1,595/ 644 308 276 1.189 497 1,119 154 |
||
| 89,683 |
10
THE EVELYN NORRIS TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021
| Brought forward 2,938 ITV 1,567 James Halstead 2,910 Kin and Carta 5,246 Kitwave 6,612 Lords 2,378 M and G 2,238 Marks and Spencer Group 3,078 NatWest 147 Novo-Nordisk 2,577 Peel Hunt 105 Pierer Mobility 525 Portmeirion 420 Prudential 91 Renishaw 3,777 RPS Group 322 Schroders Non-Voting 63 Siemens 2,189 Smith (DS) 9,793 Speedy Hire 2,860 Stelrad 504 Superdry 1,819 Synthomer 1,434 Thorpe (F.W.) 2,658 TT Electronics 1,679 Unicorn Investments 7,834 Urban Logistics 2,098 Vodafone Group 1,399 Volution TOTAL INVESTMENTS |
Market Value £ 145,451 3,248 8,994 8,468 7,528 8,100 4,745 5,180 6,947 12,246 5,180 7,988 3,253 5,349 4,347 4,676 7,417 8,043 8,403 6,209 6,179 1,398 7,268 7,041 6,805 6,969 14,650 2,356 7,736 332,174 1,187,173 |
Cost £ 89,683 6,201 696 4,214 8,131 6,341 5,562 8,143 6,144 4,322 5,933 7,109 5,252 4,368 580 7,953 3,427 3,842 7,869 7,385 6,208 6,035 5,661 356 6,430 6,670 7,911 3,425 2,703 |
|---|---|---|
| 238,554 | ||
| 852,604 |
11
THE EVELYN NORRIS TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021
| 7 8 |
DEBTORS Other Due from stockbroker on capital account Due from stockbroker on income account Endowment Fund £ ANALYSIS OF ASSETS BY FUND Investments 854,999 Debtors 2,766 Cash at bank and in hand - Grant committed - Accrued expenses - Interfund Loan 47,318 905,083 |
DEBTORS Other Due from stockbroker on capital account Due from stockbroker on income account Endowment Fund £ ANALYSIS OF ASSETS BY FUND Investments 854,999 Debtors 2,766 Cash at bank and in hand - Grant committed - Accrued expenses - Interfund Loan 47,318 905,083 |
DEBTORS Other Due from stockbroker on capital account Due from stockbroker on income account Endowment Fund £ ANALYSIS OF ASSETS BY FUND Investments 854,999 Debtors 2,766 Cash at bank and in hand - Grant committed - Accrued expenses - Interfund Loan 47,318 905,083 |
Unrestricted Fund £ 332,174 3,172 66,181 - (1,022) (47,318) |
2021 £ - 3,840 2,098 5,938 2021 £ 1,187,173 5,938 66,181 - (1,022) - 1,258,270 |
2020 £ 40 3,574 1,361 |
||
|---|---|---|---|---|---|---|---|---|
| 4,975 | ||||||||
| 2020 £ 964,912 4,975 65,873 - (965) - |
||||||||
| 905,083 | 353,187 | 1,034,795 |
12