## **REGISTERED COMPANY NUMBER: 00980854 (England and Wales) REGISTERED CHARITY NUMBER: 261469**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021**
## **FOR**
## **G. S. PLAUT CHARITABLE TRUST LIMITED**
UHY Calvert Smith Chartered Accountants Heritage House Murton Way Osbaldwick York North Yorkshire YO19 5UW
## **G. S. PLAUT CHARITABLE TRUST LIMITED**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|3|
|**Independent Examiner's Report**||4||
|**Statement of Financial Activities**||5||
|**Balance Sheet**|6|to|7|
|**Notes to the Financial Statements**|8|to|14|
|**Detailed Statement of Financial Activities**||15||
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021**
## **G. S. PLAUT CHARITABLE TRUST LIMITED**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2021. The trustees have adopted the provisions of 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).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and activities for the public benefit**
The objects of G.S. Plaut Charitable Trust Limited are to make grants or any other financial or other provision in favour of any institution, trust or corporation which is established for exclusively charitable objects or purposes. All such actions are to be undertaken in accordance with the objects of the company as listed in the Memorandum of Association.
The trustees of the G.S. Plaut Charitable Trust are aware of the guidance published by the Charity Commission on Public Benefit and the guidance is taken into account when deciding the organisations to be supported.
The Memorandum of Association states the objects of the trust are:
To promote by any lawful means any objects or purposes which under the law for the time being in force in England are exclusively charitable.
In furtherance of the above objects but not otherwise the company shall have the following powers:
(i) To assist any person, body or bodies financially or otherwise in the furtherance of the above objects or purposes.
(ii) To make grants or any other financial or other provision in favour of any institution, trust or corporation which is established for exclusively charitable objects or purposes.
The trustees have further agreed that donations by the G. S. Plaut Charitable Trust are limited to organisations registered as charities and, as such, they will be assumed to be for charitable purposes as defined by the Charities Act.
When deciding suitable recipients for donations, the trustees will also consider both the purpose of the charity and its administration costs.
## **Review of activities**
The trustees of the charity have continued to act in accordance with the aforementioned objects of the charity. G. S. Plaut Charitable Trust Limited conducted no fund-raising activities nor received any trading income, but continued to receive investment income and to act as a grant-making body from its own funds, as stated in the Financial Statements. Charitable grants for the year totalled £68,250 (2020 - £30,000).
## **Grantmaking**
The grant-making policy of G.S. Plaut Charitable Trust Limited remains in accordance with the aforementioned objects of the charity; viz. to make grants or any other financial or other provision in favour of any institution, trust or corporation which is established for exclusively charitable objects or purposes. All such actions shall be undertaken in accordance with the objects of the Company as listed in the Memorandum of Association. At each trustees' meeting the trustees discuss in detail which charities to support.
## **FINANCIAL REVIEW**
## **Investment policy**
Brewin Dolphin has been appointed on a discretionary management basis.
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## **G. S. PLAUT CHARITABLE TRUST LIMITED**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021**
## **FINANCIAL REVIEW**
## **Reserves policy**
The charity has total funds, all unrestricted, of £2,036,352. Of this £1,964,958 is invested by the stockbroker in equities and fixed interest stocks. £5,865 is invested by the stockbroker in their client account but is available for transfer to the charity's current bank account at short notice and can therefore be considered to be freely available. The balance of funds of £65,529 is also freely available. The trustees have determined that the appropriate level of free reserves should be approximately equivalent to anticipated expenditure for the next 6 months.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is a limited company, limited by guarantee, as defined by the Companies Act 2006. It is governed by its Memorandum and Articles of Association.
## **Recruitment and appointment of new trustees**
The trustees are recruited by the board of trustees on the basis of experience, competence and specialist skills. The board of trustees tries to maintain a mix of skills and seeks to ensure that the family of the trust's founder member, Dr G S Plaut (deceased), is adequately represented on the board.
## **Organisational structure**
As set out in the Articles of Association the trustees (who are also directors of the company) are elected, removed or replaced by ordinary resolution of the company.
The number of trustees shall not be less than three nor more than nine. They are appointed to act in accordance with the objects of the charity and, as such, make the necessary policy decisions. The trustees meet formally from time to time, normally on a biannual basis, to carry out any relevant business. They may also act between meetings following appropriate internal consultation. The trustees may appoint relevant persons from time to time to assist them with the provision of advice and with the implementation of their policy decisions.
## **Induction and training of new trustees**
New trustees are provided with informal training by the board of trustees.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
00980854 (England and Wales)
## **Registered Charity number**
261469
## **Registered office**
Heritage House Murton Way York YO19 5UW
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## **G. S. PLAUT CHARITABLE TRUST LIMITED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2021**
**Trustees** Mrs A D Wrapson Mr W E Murfett Miss T A Warburg Dr J D Hall Mrs B A Sprinz Miss R E Liebeschuetz **Company Secretary** Dr R A Speirs **Independent Examiner** H Priest UHY Calvert Smith Chartered Accountants Heritage House Murton Way Osbaldwick York North Yorkshire YO19 5UW **Bankers** Lloyds Bank Grand Buildings Jameson Street Hull HU1 3JX **Investment Advisors** Brewin Dolphin Securities 12 Smithfield Street London EC1A 9BD
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 10 November 2021 and signed on its behalf by:
Mrs A D Wrapson - Trustee
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**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF G. S. PLAUT CHARITABLE TRUST LIMITED**
## **Independent examiner's report to the trustees of G. S. Plaut Charitable Trust Limited ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2021.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
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:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
H Priest UHY Calvert Smith Chartered Accountants Heritage House Murton Way Osbaldwick York North Yorkshire YO19 5UW
19 November 2021
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## **G. S. PLAUT CHARITABLE TRUST LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2021**
**----- Start of picture text -----**
2021 2020
Unrestricted Total
fund funds
Notes £ £
INCOME AND ENDOWMENTS FROM
Investment income 3 65,620 69,526
EXPENDITURE ON
Raising funds
Investment management costs 4 11,891 12,587
11,891 12,587
Charitable activities
Charitable grants 68,250 30,000
Support costs 6,680 6,957
Total 86,821 49,544
Net gains/(losses) on investments 279,033 (138,615)
NET INCOME/(EXPENDITURE) 257,832 (118,633)
RECONCILIATION OF FUNDS
Total funds brought forward 1,778,520 1,897,153
TOTAL FUNDS CARRIED FORWARD 2,036,352 1,778,520
**----- End of picture text -----**
The notes form part of these financial statements
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## **G. S. PLAUT CHARITABLE TRUST LIMITED (REGISTERED NUMBER: 00980854)**
## **BALANCE SHEET 30 JUNE 2021**
**----- Start of picture text -----**
2021 2020
Unrestricted Total
fund funds
Notes £ £
FIXED ASSETS
Investments 9 1,964,958 1,639,420
CURRENT ASSETS
Debtors 10 723 133
Cash at bank 11 73,810 142,016
74,533 142,149
CREDITORS
Amounts falling due within one year 12 (3,139) (3,049)
NET CURRENT ASSETS 71,394 139,100
TOTAL ASSETS LESS CURRENT LIABILITIES 2,036,352 1,778,520
NET ASSETS 2,036,352 1,778,520
FUNDS 13
Unrestricted funds 2,036,352 1,778,520
TOTAL FUNDS 2,036,352 1,778,520
**----- End of picture text -----**
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
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## **G. S. PLAUT CHARITABLE TRUST LIMITED (REGISTERED NUMBER: 00980854)**
**BALANCE SHEET - continued 30 JUNE 2021**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 10 November 2021 and were signed on its behalf by:
Mrs A D Wrapson - Trustee
Mr W E Murfett - Trustee
Miss T A Warburg - Trustee
Mrs B A Sprinz - Trustee
Miss R E Liebeschuetz - Trustee
Dr J D Hall - Trustee
The notes form part of these financial statements
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**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021**
## **G. S. PLAUT CHARITABLE TRUST LIMITED**
## **1. CHARITY INFORMATION**
The G.S. Plaut Charitable Trust Limited is a private charitable company limited by guarantee, registered with the Charity Commission in England and Wales.
The address of its registered office is Heritage House, Murton Way, Osbaldwick, York, YO19 5UW.
## **2. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
## **Investments**
Fixed asset investments in quoted shares, traded bonds and similar investments are stated at fair value, as determined by the fund managers at the reporting date.
Brewin Dolphin generally use the mid-market price, as supplied by external information providers, to value the investments within the portfolio; where it is not possible to value the securities on this basis, investments have been valued on a basis considered appropriate, such as last trade or bid price.
Investment gains and losses, whether realised or unrealised, are combined and shown in the heading 'Net gains/(losses) on investments' on the Statement of Financial Activities.
## **Portfolio management costs**
The charity's investments are managed by its Investment Advisors, Brewin Dolphin.
Portfolio management charges are calculated on the value of the portfolio, on a quarterly basis at the rate of 0.6% per annum, plus VAT, on the first £million and then 0.5% per annum, plus VAT, thereafter. Portfolio management costs are included in the Statement of Financial Activities.
## **Financial instruments**
Fixed asset investments are measured at fair value through net income and expenditure on the Statement of Financial Activities.
continued...
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## **G. S. PLAUT CHARITABLE TRUST LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021**
## **2. ACCOUNTING POLICIES - continued**
## **Investments**
All other financial assets and liabilities are measured at amortised cost.
## **3. INVESTMENT INCOME**
|Dividends and interest received on quoted investments
Bank interest received
**INVESTMENT MANAGEMENT COSTS**
Portfolio management
**GRANTS PAYABLE**
Charitable grants|**2021**
**£**
**65,223**
**397**
**65,620**
**2021**
**£**
**11,891**
**2021**
**£**
**68,250**|2020
£
69,250
276
69,526
2020
£
12,587
2020
£
30,000|
|---|---|---|
## **4. INVESTMENT MANAGEMENT COSTS**
## **5.**
continued...
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## **G. S. PLAUT CHARITABLE TRUST LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021**
## **5. GRANTS PAYABLE - continued**
The total grants paid to institutions during the year was as follows:
|Alzheimer's Research UK (ex Trust)
Ben Gurion University Foundation
Bowel Research UK
Bowel & Cancer Research
British Eye Research Foundation (Fight for Sight)
British Limbless Ex-Service Men's Association (BLESMA)
British Red Cross
Cambridge Cycling Campaign
Carers UK
Chilterns Multiple Sclerosis Centre
Council of Christians and Jews
Daisy Appeal - Hull & East Yorkshire Medical Research Centre
Gurkha Welfare Trust, The
Home Farm Trust
Licoricia of Winchester Statue Appeal
Magen David Adom UK
Medecins Sans Frontieres
Middle East Education (London)
Nightingale Hammerson
Retina UK (ex RP Fighting Blindness)
Sight Savers International
St Basil's
Sutton Trust
Tall Ships Youth Trust
Veterans Aid
Victoria County History of Essex Appeal|**2021**
**£**
**6,750**
**1,000**
**1,000**
**-**
**2,000**
**1,500**
**1,000**
**6,500**
**1,500**
**5,250**
**1,000**
**1,000**
**1,500**
**2,000**
**500**
**2,000**
**4,250**
**1,000**
**2,750**
**6,250**
**2,000**
**3,250**
**2,000**
**1,000**
**7,250**
**4,000**
**68,250**|2020
£
2,000
1,000
-
1,000
2,000
1,000
1,000
2,500
-
2,000
1,000
1,000
1,000
1,000
-
2,000
1,000
1,000
-
1,000
1,000
-
500
1,000
2,000
4,000
30,000|
|---|---|---|
continued...
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## **G. S. PLAUT CHARITABLE TRUST LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021**
## **6. SUPPORT COSTS**
Support costs comprise governance costs as follows:
**----- Start of picture text -----**
||||
|---|---|---|
|2021|2020|
|£|£|
|Accountancy|3,126|3,036|
|Secretary's expenses|41|288|
|Secretary's fees|3,500|3,500|
|Trustees' expenses|-|120|
|Companies House filing fee|13|13|
|Total|6,680|6,957|
**----- End of picture text -----**
## **7. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
**----- Start of picture text -----**
||||
|---|---|---|
|2021|2020|
|£|£|
|Independent examiner's fees - independent examination|1,370|1,330|
|Independent examiner's fees - accountancy|1,756|1,706|
**----- End of picture text -----**
## **8. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 30 June 2021 nor for the year ended 30 June 2020.
## **Trustees' expenses**
No Trustees' expenses (2020: £120) were reimbursed in the year. These costs are for travelling and accommodation relating to trustees' meetings.
continued...
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## **G. S. PLAUT CHARITABLE TRUST LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021**
## **9. FIXED ASSET INVESTMENTS**
|**MARKET VALUE**
At 1 July 2020
Additions
Disposals
Revaluations
At 30 June 2021
**NET BOOK VALUE**
At 30 June 2021
At 30 June 2020|Listed
investments
£
**1,639,420**
**420,908**
**(238,712)**
**143,342**
**1,964,958**
**1,964,958**
1,639,420|
|---|---|
The charity's investment portfolio is managed by Brewin Dolphin on a discretionary management basis.
## Investments compromised:
|Equities listed on the UK stock exchange
Overseas equities
Fixed interest investments listed on the International Eurobond Market
UK Close Ended Investment Companies
Unit Trusts and Open Ended Investment Companies
**- UK**
**- Outside the UK**
**10.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2021**
**£**
Other debtors
**723**|**£**|
|---|---|
||**685,518**
**16,507**
**341,674**
**84,651**|
||**140,760**
**695,848**
**1,964,958**|
||2020
£
133|
continued...
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## **G. S. PLAUT CHARITABLE TRUST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021**
**----- Start of picture text -----**
11. CASH AT BANK
2021 2020
Total Total
funds funds
£ £
Bank current account 10,000 10,000
Bank deposit account 55,600 65,902
Stockbroker's client account 8,210 66,114
Total 73,810 142,016
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£ £
Accruals 3,139 3,049
13. MOVEMENT IN FUNDS
Net
movement At
At 1/7/20 in funds 30/6/21
£ £ £
Unrestricted funds
General fund 1,778,520 257,832 2,036,352
TOTAL FUNDS 1,778,520 257,832 2,036,352
Net movement in funds, included in the above are as follows:
Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Unrestricted funds
General fund 65,620 (86,821) 279,033 257,832
TOTAL FUNDS 65,620 (86,821) 279,033 257,832
**----- End of picture text -----**
continued...
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**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2021**
## **G. S. PLAUT CHARITABLE TRUST LIMITED**
## **13. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|At 1/7/19
£
**Unrestricted funds**
General fund
1,897,153
**TOTAL FUNDS**
1,897,153
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
69,526
(49,544)
**TOTAL FUNDS**
69,526
(49,544)||Net
movement
in funds
£
(118,633)
(118,633)
Gains and
losses
£
(138,615)
(138,615)|At
30/6/20
£
1,778,520
1,778,520
Movement
in funds
£
(118,633)
(118,633)|
|---|---|---|---|
## **14. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 30 June 2021.
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