## THE EVELYN NORRIS TRUST REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 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|(Resigned 20 November 2022)| |||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|| |||PO Box 1EZ|| |||196 Oxford Street|| |||London|| |||W1D 1NT|| 1 THE EVELYN NORRIS TRUST ## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 The trustees present their report together with the financial statements of the trust for the year ended 31 December 2022. 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 68 (2021: 28) individual grants and two (2021: two) institutional donations were made by the trust during 2022. ## FINANCIAL REVIEW The funds of the charity have decreased by £191,085 (2021: increased by £223,457) arising from losses 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 2022 ## 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: .……………………………………………………………… 25 April 2023 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 2022 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 29 June 2023 4 THE EVELYN NORRIS TRUST ## STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022 |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 (LOSSES)GAINS
(Losses)Gains 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
£
-
24,507|Unrestricted
Fund
£
48,905
9,564|Total
Funds
2022
£
48,905
34,071
82,976
8,296
65,770
2,752
76,818
6,158
-
6,158
(197,243)
(191,085)
1,258,270
1,067,185|Total
Funds
2021
£
25
30,124| |---|---|---|---|---|---|---| ||||24,507|58,469||30,149| ||||5,967
-
-|2,329
65,770
2,752||8,066
26,050
2,507| ||||5,967|70,851||36,623| ||||18,540
(24,507)|(12,382)
24,507||(6,474)
-| ||||(5,967)
(141,877)|12,125
(55,366)||(6,474)
229,931| ||||(147,844)
905,083|(43,241)
353,187||223,457
1,034,813| ||||757,239|309,946||1,258,270| The notes on pages 7 to 12 form part of the accounts. 5 THE EVELYN NORRIS TRUST ## BALANCE SHEET AS AT 31 DECEMBER 2022 |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|2022
£
977,809
17,265
75,883
93,148
2,650
1,122
3,772
89,376
1,067,185
757,239
309,946
1,067,185|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| Approved by the Board of Trustees and signed on their behalf by: …………………..……………………………..…..……… Trustee Date 25 April 2023 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 2022 ## 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 £15,000 (2021: £NIL) from the Council as a share of donations collected in an appeal known as ‘Acting for Others’. |3|INVESTMENTS
Investment income from quoted investments|2022
£
34,071
34,071|2021
£
30,124| |---|---|---|---| ||||30,124| 7 THE EVELYN NORRIS TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 |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|2022
£
61,270
2,250
2,250
65,770
-
1,000
35
1,120
395
60
142
2,752|2021
£
22,050
2,000
2,000| |---|---|---|---| ||||26,050| ||||11
925
35
1,025
395
71
45| ||||2,507| No trustee (2021: 1) 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 2022 |6|INVESTMENTS–ENDOWMENT FUND
Equities
277
AstraZeneca
2,023
Aviva
7,409
Bloomsbury Publishing
2,877
BP
2,356
Britvic
10,765
CT Automotive
820
Diploma
2,158
Discoverie
11,868
DWF Group
7,732
Ecora Resources
4,100
Genuit
791
Goodwin
1,324
GSK
709
Halma
3,057
Hedlam
1,277
Hill and Smith
2,877
HSBC Holdings
396
Intel Corp
7,553
ITV
8,056
James Halstead
7,481
Kin and Carta
13,487
Kitwave
1,187
Liontrust
16,998
Lords
6,114
M and G
5,754
Marks and Spencer Group
7,347
NatWest
378
Novo-Nordisk
6,625
Peel Hunt
5,035
Pets at Home
270
Pierer Mobility
1,349
Portmeirion
1,079
Prudential
234
Renishaw
Carried forward|Market
Value
£
31,066
8,957
33,303
13,664
18,304
10,223
22,763
15,774
9,542
11,645
11,521
26,388
19,027
13,986
9,232
14,964
14,838
8,691
5,677
15,146
16,009
25,895
13,293
13,853
11,485
7,095
19,484
42,316
5,631
14,280
16,276
4,080
12,165
8,575
525,148|Cost
£
7,935
7,736
8,582
15,674
17,983
15,976
1,193
6,563
14,683
15,850
15,486
12,232
17,411
870
17,688
3,066
16,870
15,007
15,942
1,789
10,833
20,904
14,087
16,301
14,300
20,934
15,796
11,110
15,253
18,571
18,276
13,502
11,230
1,491| |---|---|---|---| ||277
2,023
7,409
2,877
2,356
10,765
820
2,158
11,868
7,732
4,100
791
1,324
709
3,057
1,277
2,877
396
7,553
8,056
7,481
13,487
1,187
16,998
6,114
5,754
7,347
378
6,625
5,035
270
1,349
1,079
234||| ||||431,124| 9 ## THE EVELYN NORRIS TRUST ## NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 |Brought forward
2,266
RS Group
4,136
Schroders Non-Voting
162
Siemens
5,629
Smith (DS)
25,175
Speedy Hire
7,353
Stelrad
1,295
Superdry
4,675
Synthomer
3,686
Thorpe (F.W.)
6,833
TT Electronics
4,316
Unicorn Investments
11,868
Urban Logistics
5,395
Vodafone Group
3,597
Volution
INVESTMENTS–UNRESTRICTED FUND
Equities
108
AstraZeneca
789
Aviva
2,891
Bloomsbury Publishing
1,123
BP
919
Britvic
4,201
CT Automotive
320
Diploma
842
Discoverie
4,632
DWF Group
3,018
Ecora Resources
1,600
Genuit
309
Goodwin
516
GSK
276
Halma
1.193
Hedlam
498
Hill and Smith
1,123
HSBC Holdings
154
Intel Corp
Carried forward|Market
Value
525,148
20,290
18,033
18,578
18,095
10,007
9,192
1,657
6,742
14,930
11,890
15,141
15,963
4,545
13,127
703,338
12,123
3,495
12,996
5,332
7,143
3,995
8,883
6,156
3,724
4,544
4,496
10,297
7,425
5,458
3,603
5,839
5,790
3,391
114,690|Cost
431,124
13,266
8,809
9,877
20,229
18,985
15,961
15,515
14,552
914
16,531
17,148
11,984
8,806
6,950| |---|---|---| |||610,651| |||3,097
3,019
3,349
6,117
7,018
6,234
465
2,561
5,730
6,185
6,043
4,774
6,795
340
6,902
1,197
6,584
5,856| |108
789
2,891
1,123
919
4,201
320
842
4,632
3,018
1,600
309
516
276
1.193
498
1,123
154||| |||82,266| 10 ## THE EVELYN NORRIS TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 |Brought forward
2,947
ITV
3,144
James Halstead
2,919
Kin and Carta
5,263
Kitwave
463
Liontrust
6,633
Lords
2,386
M and G
2,246
Marks and Spencer Group
2,867
NatWest
147
Novo-Nordisk
2,586
Peel Hunt
1,965
Pets at Home
105
Pierer Mobility
526
Portmeirion
421
Prudential
91
Renishaw
884
RS Group
1,614
Schroders Non-Voting
63
Siemens
2,196
Smith (DS)
9,925
Speedy Hire
2,870
Stelrad
505
Superdry
1,825
Synthomer
1,439
Thorpe (F.W.)
2,667
TT Electronics
1,684
Unicorn Investments
4,632
Urban Logistics
2,105
Vodafone Group
1,403
Volution
TOTAL INVESTMENTS|Market
Value
£
114,690
2,215
5,910
6,247
10,105
5,187
5,406
4,482
2,769
7,604
16,513
2,198
5,572
6,351
1,592
4,747
3,346
7,918
7,037
7,250
7,062
3,905
3,587
647
2,631
5,826
4,640
5,908
6,230
1,773
5,123
274,471
977,809|Cost
£
82,266
6,221
698
4,227
8,157
5,497
6,361
5,580
8,169
6,164
4,336
5,953
7,247
7,132
5,269
4,382
582
5,177
3,438
3,854
7,894
7,409
6,228
6,055
5,679
357
6,451
6,692
4,678
3,436
2,712| |---|---|---| |||238,301| |||848,952| 11 THE EVELYN NORRIS TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 |7
8|DEBTORS
Other
Due from stockbroker on capital account
Due from stockbroker on income account
Endowment
Fund
£
ANALYSIS OF ASSETS BY FUND
Investments
703,338
Debtors
11,268
Cash at bank and in hand
-
Grants committed
-
Accrued expenses
-
Interfund Loan
42,633
757,239|DEBTORS
Other
Due from stockbroker on capital account
Due from stockbroker on income account
Endowment
Fund
£
ANALYSIS OF ASSETS BY FUND
Investments
703,338
Debtors
11,268
Cash at bank and in hand
-
Grants committed
-
Accrued expenses
-
Interfund Loan
42,633
757,239|DEBTORS
Other
Due from stockbroker on capital account
Due from stockbroker on income account
Endowment
Fund
£
ANALYSIS OF ASSETS BY FUND
Investments
703,338
Debtors
11,268
Cash at bank and in hand
-
Grants committed
-
Accrued expenses
-
Interfund Loan
42,633
757,239|Unrestricted
Fund
£
274,471
5,997
75,883
(2,650)
(1,122)
(42,633)|2022
£
-
15,665
1,600
17,265
2022
£
977,809
17,265
75,883
(2,650)
(1,122)
-
1,067,185|||2021
£
-
3,840
2,098| |---|---|---|---|---|---|---|---|---| |||||||||5,938| ||||||||2021
£
1,187,173
5,938
66,181
-
(1,022)
-|| ||||757,239|309,946|||1,258,270|| 12