Charity number: 260295
THE AGATHA CHRISTIE TRUST FOR CHILDREN
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
THE AGATHA CHRISTIE TRUST FOR CHILDREN
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 14 |
THE AGATHA CHRISTIE TRUST FOR CHILDREN
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2024
| Trustees | Christopher Hart, Trustee |
|---|---|
| Alexandra Clementson, Trustee | |
| James Prichard, Trustee | |
| Principal office Wollens 67 The Terrace Torquay Devon TQ1 1DP Accountants Bishop Fleming LLP Chartered Accountants Century House Nicholson Road Torquay TQ2 7TD |
Page 1
THE AGATHA CHRISTIE TRUST FOR CHILDREN
TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2024
The Trustees present their annual report together with the financial statements of the Charity for the 6 April 2023 to 5 April 2024.
Objectives and activities
a. Policies and objectives
The Charity’s core Objects, as set out in its Trust Deed, are that of general grant giving with a preference for persons under the age of 21 years.
Achievements and performance
a. Main achievements of the Charity
The main purpose of the Charity is to apply the income for the benefit of such charitable bodies or such other charitable purposes as the Trustees shall decide.
The Charity’s income consists predominantly of investment income, which is distributed to charitable organisations in accordance with the Trust Deed at the discretion of the Trustees after meeting administration and governance costs.
b. Fundraising activities and income generation
We do not employ a professional fundraiser. There have been no complaints in the last year about fundraising. The Charity does not approach people for funds, as they are voluntary payments from the public, so it does not affect vulnerable people.
c. Investment policy
There are no restrictions on the Charity’s power to invest. The Trustees have appointed 7iM investment managers to act on an advisory management basis.
The overall policy if to adopt a medium risk investment strategy based on producing a balance of income and capital growth over the medium term.
At the year end the Charity’s investment portfolio was valued at £111,198 (2023: £104,906).
d. Public benefit
In planning our activities for the year, we kept in mind the Charity Commission guidance on public benefit.
FINANCIAL REVIEW
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
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THE AGATHA CHRISTIE TRUST FOR CHILDREN
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024
b. Reserves policy
The Trustees have considered the requirement for free reserves, being those funds which remain un-invested and uncommitted and are satisfied that the level at present is adequate for the future operation of the Trust.
The Charity had a surplus, after gains on investments, of £5,006 for the year (2023: deficit of £12,640) and the unrestricted reserves at the end of the year were £ 108,957 (2023: £103,951).
STRUCTURE, GOVERNANCE AND MANAGEMENT
a. Constitution
The Agatha Christie Trust for Children is a registered charity with the Charity Commission for England and Wales. The charity is governed by a Trust Deed dated 1 December 1969 and is registered under the Charities Act 2011; Charity Registration Number 260295.
b. Methods of appointment or election of Trustees
Under the terms of the Trust Deed, the power of appointing new Trustees is vested in the existing Trustees.
c. Organisational structure and decision-making policies
The Trustees consult regularly on the awarding of grants.
d. Financial risk management
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
e. Trustees’ responsibilities
In preparing the financial statements the trustees are required to select suitable accounting policies as described on page 6 and apply them consistently.
The trustees are responsible for keeping proper accounting records that 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 reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees consult regularly on the making of grants.
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THE AGATHA CHRISTIE TRUST FOR CHILDREN
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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 reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
Christopher Hart (Trustee)
Date: 22 January 2025
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THE AGATHA CHRISTIE TRUST FOR CHILDREN
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2024
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE AGATHA CHRISTIE TRUST FOR CHILDREN ('THE CHARITY')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 5 April 2024.
RESPONSIBILITIES AND BASIS OF REPORT
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
INDEPENDENT EXAMINER'S STATEMENT
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no 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 Charity as required by section 130 of the 2011 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: Mark Munro FCA Bishop Fleming LLP Chartered Accountants Century House Nicholson Road Torquay TQ2 7TD
Dated: 07 February 2025
Page 5
THE AGATHA CHRISTIE TRUST FOR CHILDREN
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024
| Note INCOME FROM: Donations and legacies 2 Investments 3 TOTAL INCOME EXPENDITURE ON: Raising funds 4 Charitable activities 6 TOTAL EXPENDITURE NET EXPENDITURE BEFORE NET GAINS/ (LOSSES) ON INVESTMENTS Net gains/(losses) on investments 9 NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward Net movement in funds TOTAL FUNDS CARRIED FORWARD 11 |
Unrestricted funds 2024 £ 65,000 2,398 67,398 1,421 72,229 73,650 (6,252) 11,258 5,006 103,951 5,006 108,957 |
Total funds 2024 £ 65,000 2,398 67,398 1,421 72,229 73,650 (6,252) 11,258 5,006 103,951 5,006 108,957 |
Total funds 2023 £ 25,000 2,115 27,115 1,441 31,252 32,693 (5,578) (7,062) (12,640) 116,591 (12,640) 103,951 |
|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 8 to 14 form part of these financial statements.
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THE AGATHA CHRISTIE TRUST FOR CHILDREN
BALANCE SHEET AS AT 5 APRIL 2024
| Note FIXED ASSETS Investments 9 CURRENT ASSETS Cash at bank and in hand Creditors: amounts falling due within one year 10 NET CURRENT LIABILITIES TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS CHARITY FUNDS Unrestricted funds 11 TOTAL FUNDS |
5,440 (9,939) |
2024 £ 113,456 (4,499) 108,957 108,957 108,957 108,957 |
2,095 (5,365) |
2023 £ 107,221 (3,270) 103,951 103,951 103,951 103,951 |
|---|---|---|---|---|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
Christopher Hart (Trustee)
Date: 22 January 2025
The notes on pages 8 to 14 form part of these financial statements.
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THE AGATHA CHRISTIE TRUST FOR CHILDREN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
1. ACCOUNTING POLICIES
1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Agatha Christie Trust For Children meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
1.2 INCOME
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Interest on funds held on deposit is included upon notification of the interest paid or payable by the Bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by our investment advisor of the dividend yield of the investment portfolio.
1.3 EXPENDITURE
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and support costs involved in undertaking each activity. Ccosts which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
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THE AGATHA CHRISTIE TRUST FOR CHILDREN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
1. ACCOUNTING POLICIES (continued)
1.4 TAXATION
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
1.5 INVESTMENTS
Fixed asset investments are included in the accounts at market value as at the Statement of Financial Position date.
All gains and losses are taken to the statement of financial activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value of at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.
1.6 CASH AT BANK AND IN HAND
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.7 LIABILITIES
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
1.8 FUND ACCOUNTING
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
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THE AGATHA CHRISTIE TRUST FOR CHILDREN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
2. INCOME FROM DONATIONS AND LEGACIES
| Unrestricted funds 2024 £ Donations 65,000 65,000 All 2023 amounts relate to unrestricted funds. |
Total funds 2024 £ 65,000 65,000 |
Total funds 2023 £ 25,000 |
|---|---|---|
| 25,000 | ||
| 3. INVESTMENT INCOME Unrestricted funds 2024 £ Dividends and interest 2,398 All 2023 amounts relate to unrestricted funds. |
Total funds 2024 £ 2,398 |
Total funds 2023 £ 2,115 |
|---|---|---|
4. INVESTMENT MANAGEMENT COSTS
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2024 | 2024 | 2023 | |
| £ | £ | £ | |
| Portfolio management | 1,421 | 1,421 | 1,441 |
All 2023 amounts relate to unrestricted funds.
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THE AGATHA CHRISTIE TRUST FOR CHILDREN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
5. ANALYSIS OF GRANTS
| Blood Cancer UK TOTAL 2023 |
Grants to Institutions 2024 £ 65,000 65,000 25,000 |
Total funds 2024 £ 65,000 65,000 25,000 |
Total funds 2023 £ 25,000 |
|---|---|---|---|
| 25,000 | |||
6. ANALYSIS OF EXPENDITURE BY ACTIVITIES
| Grant | ||||
|---|---|---|---|---|
| funding of | Support | Total | Total | |
| activities | costs | funds | funds | |
| 2024 | 2024 | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Charitable activities | 65,000 | 7,229 | 72,229 | 31,252 |
All 2023 amounts relate to unrestricted funds.
ANALYSIS OF SUPPORT COSTS
| Accoutancy fees Legal fees |
Total funds 2024 £ 4,410 2,819 7,229 |
Total funds 2023 £ 4,140 2,112 |
|---|---|---|
| 6,252 |
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THE AGATHA CHRISTIE TRUST FOR CHILDREN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
7. INDEPENDENT EXAMINER'S REMUNERATION
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Charity's independent examiner for the independent | ||
| examination of the Charity's annual accounts | 4,410 | 4,140 |
8. TRUSTEES' REMUNERATION AND EXPENSES
The average number of employees during the year was Nil (2023: Nil).
During the year, no Trustees received any remuneration or other benefits (2023: £Nil). During the year ended 5 April 2024, no Trustee expenses have been incurred (2023: £Nil).
9. FIXED ASSET INVESTMENTS
| Listed investments £ COST OR VALUATION At 6 April 2023 104,906 Additions 10,209 Disposals (15,175) Revaluations 11,258 AT 5 APRIL 2024 111,198 NET BOOK VALUE AT 5 APRIL 2024 111,198 AT 5 APRIL 2023 104,906 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accruals and deferred income |
Cash £ 2,315 17,573 (17,630) - 2,258 2,258 2,315 2024 £ 9,939 |
Total £ 107,221 27,782 (32,805) 11,258 |
|---|---|---|
| 113,456 | ||
| 113,456 | ||
| 107,221 | ||
| 2023 £ 5,365 |
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THE AGATHA CHRISTIE TRUST FOR CHILDREN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
11. STATEMENT OF FUNDS
| STATEMENT OF FUNDS | ||||
|---|---|---|---|---|
| STATEMENT OF FUNDS - CURRENT YEAR Balance at 6 April 2023 £ UNRESTRICTED FUNDS General Funds 103,951 STATEMENT OF FUNDS - PRIOR YEAR Balance at 6 April 2022 £ UNRESTRICTED FUNDS General Funds 116,591 |
Income £ 67,398 Income £ 27,115 |
Expenditure £ (73,650) Expenditure £ (32,693) |
Gains/ (Losses) £ 11,258 Gains/ (Losses) £ (7,062) |
Balance at 5 April 2024 £ 108,957 |
| Balance at 5 April 2023 £ 103,951 |
12. ANALYSIS OF NET ASSETS BETWEEN FUNDS
ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT PERIOD
| Unrestricted funds 2024 £ Fixed asset investments 113,456 Current assets 5,440 Creditors due within one year (9,939) TOTAL 108,957 |
Total funds 2024 £ 113,456 5,440 (9,939) |
|---|---|
| 108,957 |
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THE AGATHA CHRISTIE TRUST FOR CHILDREN
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
12. ANALYSIS OF NET ASSETS BETWEEN FUNDS (CONTINUED)
ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR PERIOD
| Fixed asset investments Current assets Creditors due within one year TOTAL |
Unrestricted funds 2023 £ 107,221 2,095 (5,365) 103,951 |
Total funds 2023 £ 107,221 2,095 (5,365) 103,951 |
|---|---|---|
13. RELATED PARTY TRANSACTIONS
Christopher Hart is a partner at Wollens, solicitors who provide services to the Trust. During the year, the Charity paid Wollens £2,819 (2023: £2,112) in respect of professional charges associated with the Charity. At the year end, £1,328 (2023: £1,164) was owed to Wollens; this balance is included in creditors.
Matthew Prichard, the father of Trustees James Prichard and Alexandra Clementson, serves as a Trustee of the Colwinston Charitable Trust. Donations of £65,000 (2023: £25,000) have been recieved from the Colwinston Charitable Trust. No amounts (2023: £Nil) were due to the Charity at the year end.
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