**Charity number: 261991**
## **THE CHRISTOPHER ROWBOTHAM CHARITABLE TRUST**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 5 APRIL 2023**
## **THE CHRISTOPHER ROWBOTHAM CHARITABLE TRUST**
|**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 - 18|
## **THE CHRISTOPHER ROWBOTHAM CHARITABLE TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2023**
|**Trustees**|Mrs CA Jackson|
|---|---|
||Mr R M Jackson M.R.I.C.S.|
||Mrs V J Lindsay|
|**Charity registered**
**number**
261991
**Principal office**
21 Bullingham Mansions
Pitt Street
London
W8 4JH
**Accountants**
Ryecroft Glenton
Chartered Accountants
32 Portland Terrace
Newcastle upon Tyne
Tyne & Wear
NE2 1QP
**Investment Advisers**
Brewin Dolphin
12 Smithfield Street
London
EC1A 9BD||
Page 1
## **THE CHRISTOPHER ROWBOTHAM CHARITABLE TRUST**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2023**
The Trustees present their annual report together with the financial statements of the Charitable Trust for the year 6 April 2022 to 5 April 2023.
## **Objectives and activities**
## **Policies and objectives**
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## **Main activities undertaken to further the Charity's purposes for the public benefit**
The charity achieves its purposes for the public benefit through generating returns on investments and providing grants to charitable organisations.
## **Achievements and performance**
## **Main achievements of the Charity**
The charity supports local charities in the North East and South East of England including local branches of national charities but with priority given to those with low overheads. The trustees have had regard to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the trust’s aims and objectives. Grants are made to registered charities only and no grants are made to overseas projects, for salaries or to individuals. The trustees require a receipt from the donee in respect of each grant. In order to achieve its object for the public benefit the trustees prefer to give regular grants and are especially interested in:
People with physical or mental handicaps - improving their quality of life through equipment, activities and holidays.
The young
- with particular emphasis on improving prospects of employment by education and meaningful activities.
Health - improving the quality of life of the ill, their carers and the old either at home or in hospital.
## **Financial review**
## **Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charitable Trust 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.
Page 2
## **THE CHRISTOPHER ROWBOTHAM CHARITABLE TRUST**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023**
## **Financial review, achievements and investments policy**
The Charitable Trust was set up with a fund of £100,000 by Christopher Rowbotham in 1970 and this capital now amounts to £1,476,019. The fund generated income of £27,399 (2022: £26,540) during the year to fund grants and associated costs which totalled £34,546 (2022: £34,259). The Trustees are pleased to have been able to support 31 charitable organisations during the year, granting £27,000 (2022: £27,000 to 31 organisations).
The majority of the Charitable Trust's reserves of £1,476,019 are held as investments to generate future income for grants. At the year end, the charity's investments amounted to £1,423,218 (2022: £1,573,872) and it had net current assets (cash plus debtors less short term creditors) of £52,801 (2022: £20,611).
There is no restriction on the charity’s power to invest. The investment strategy is set periodically by the Trustees to take account of the need for funds and the maintenance of the value of the assets.
The Trustees have appointed Brewin Dolphin to manage a diversified portfolio of suitable investments on a discretionary basis. The Trustees have selected a balanced investment objective with medium risk. The proportions invested in equities, fixed income stocks and cash are reviewed with Brewin Dolphin from time to time. For the purposes of the Charitable Trust, the Trustees wish to withdraw a sum each year to meet their expenditure. This requirement will be discussed with Brewin Dolphin as necessary. The withdrawals may be met from income or capital.
## **Structure, governance and management**
The Christopher Rowbotham Charitable Trust is a small charitable trust which provides grants in support of registered charities.
The Charitable Trust is not incorporated, and is constituted under deed dated 10 November 1970 and is a registered charity number 261991.
The Trustees who have served during the year and since the year end are set out on page 1.
Trustees are appointed or removed by deed and in accordance with the deed and following her father’s death during her lifetime, Mrs C A Jackson alone now has the power to appoint or remove Trustees.
The Trustees normally meet annually to discuss grant making and other matters arising. All decisions are made in consultation with the charity’s advisers.
## **Risk management**
The Trustees have examined the main strategic, management and operational risks which the charity faces and continue to monitor the arrangements and systems in place so that any necessary steps can be taken to mitigate those risks. The main risk to the Charitable Trust is the diminution of the value of its investment portfolio. This risk is mitigated by the appointment of a suitable investment advisor to manage a diversified portfolio of suitable investments on a discretionary basis. The Trustees have selected a balanced investment objective with medium risk. The proportions invested in equities, fixed income stocks and cash are reviewed with the investment advisor from time to time.
## **Plans for future periods**
The Trustees plan to continue to generate income from investments for allocation to causes in the stated geographical areas for the public benefit for the foreseeable future.
Page 3
## **THE CHRISTOPHER ROWBOTHAM CHARITABLE TRUST**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023**
## **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 year 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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- 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 on 24 November 2023 and signed on their behalf by:
## **Mrs CA Jackson**
(Chair of Trustees)
Page 4
## **THE CHRISTOPHER ROWBOTHAM CHARITABLE TRUST**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2023**
## **Independent examiner's report to the Trustees of The Christopher Rowbotham Charitable Trust ('the Charity')**
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 5 April 2023.
## **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:
1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. 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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed:
Dated: 24 November 2023
Deborah Graham FCA
Ryecroft Glenton Chartered Accountants 32 Portland Terrace Newcastle upon Tyne NE2 1QP
Page 5
## **THE CHRISTOPHER ROWBOTHAM CHARITABLE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023**
|**Note**
**Income from:**
Investments
3
**Total income**
**Expenditure on:**
Raising funds
4
Charitable activities
6
**Total expenditure**
**Net expenditure before net (losses)/gains on**
**investments**
Net (losses)/gains on investments
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2023**
**£**
**27,399**
**27,399**
**9,923**
**34,546**
**44,469**
**(17,070)**
**(101,394)**
**(118,464)**
**1,594,483**
**(118,464)**
**1,476,019**|**Total**
**funds**
**2023**
**£**
**27,399**
**27,399**
**9,923**
**34,546**
**44,469**
**(17,070)**
**(101,394)**
**(118,464)**
**1,594,483**
**(118,464)**
**1,476,019**|_Total_
_funds_
_2022_
_£_
_26,540_
_26,540_
_10,892_
_34,259_
_45,151_
_(18,611)_
_36,702_
_18,091_
_1,576,392_
_18,091_
_1,594,483_|
|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 8 to 18 form part of these financial statements.
Page 6
## **THE CHRISTOPHER ROWBOTHAM CHARITABLE TRUST**
## **BALANCE SHEET AS AT 5 APRIL 2023**
|**Note**
**Fixed assets**
Investments
10
**Current assets**
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within one
year
12
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Charity funds**
Unrestricted funds
14
**Total funds**|**2,822**
**55,560**
**58,382**
**(5,581)**|**2023**
**£**
**1,423,218**
**1,423,218**
**52,801**
**1,476,019**
**1,476,019**
**1,476,019**
**1,476,019**|_2,696_
_25,800_
_28,496_
_(7,885)_|_As restated_
_2022_
_£_
_1,573,872_|
|---|---|---|---|---|
|||||_1,573,872_
_20,611_|
|||||_1,594,483_|
|||||_1,594,483_|
|||||_1,594,483_|
|||||_1,594,483_|
The financial statements were approved and authorised for issue by the Trustees on 24 November 2023 and signed on their behalf by:
## **Mrs CA Jackson**
The notes on pages 8 to 18 form part of these financial statements.
Page 7
## **THE CHRISTOPHER ROWBOTHAM CHARITABLE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023**
## **1. General information**
The Christopher Rowbotham Charitable Trust is an unincorporated trust, constituted under a deed dated 10 November 1970 and is a registered charity number 261991. The address of its registered office is disclosed in the Reference and Administrative Details section of these financial statements.
## **2. Accounting policies**
## **2.1 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 Christopher Rowbotham Charitable Trust 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.
## **2.2 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.
## **2.3 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 on raising funds are investment management costs.
Expenditure on charitable activities are costs incurred on the charity's grant-giving operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.
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.
Page 8
## **THE CHRISTOPHER ROWBOTHAM CHARITABLE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023**
## **2. Accounting policies (continued)**
## **2.4 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **2.5 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.
## **2.6 Debtors**
Debtors are cash held by investment managers for investment and dividends collected by investment managers not yet remitted to the charity.
## **2.7 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.
## **2.8 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.
## **2.9 Financial instruments**
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2.10 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.
All funds are stated in the trust Deed as being available for distribution. The funds are shown as income and capital in order that the income arising on investments can be accounted for more readily.
Investment income, gains and losses are allocated to the appropriate fund.
Page 9
## **THE CHRISTOPHER ROWBOTHAM CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023**
## **3. Investment income**
|**Unrestricted**
**funds**
**2023**
**£**
Dividends and interest received on listed securities
27,376
Interest received from bank deposits
23
**Total 2023**
27,399
_Unrestricted_
_funds_
_2022_
_£_
Dividends and interest received on listed securities
_26,537_
Interest received from bank deposits
_3_
_Total 2022_
_26,540_|**Total**
**funds**
**2023**
**£**
**27,376**
**23**
**27,399**|
|---|---|
||_Total_
_funds_
_2022_
_£_
_26,537_
_3_
_26,540_|
## **4. Investment management costs**
|**Unrestricted**
**funds**
**2023**
**£**
Investment management fees
9,923
_Unrestricted_
_funds_
_2022_
_£_
Investment management fees
_10,892_|**Total**
**funds**
**2023**
**£**
**9,923**|
|---|---|
||_Total_
_funds_
_2022_
_£_
_10,892_|
Page 10
## **THE CHRISTOPHER ROWBOTHAM CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023**
## **5. Analysis of grants**
|Grants payable -unrestricted funds
Grants payable - unrestricted funds|**Grants to**
**Institutions**
**2023**
**£**
27,000
_Grants to_
_Institutions_
_2022_
_£_
_27,000_|**Total**
**funds**
**2023**
**£**
**27,000**|
|---|---|---|
|||_Total_
_funds_
_2022_
_£_
_27,000_|
Page 11
## **THE CHRISTOPHER ROWBOTHAM CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023**
## **5. Analysis of grants (continued)**
The Charity has made the following material grants to institutions during the year:
|**Name of institution**
The Douglas Bader Foundation
The Calvert Trust - Kielder
Chailey Heritage Foundation
City of London Sinfonia
Listening Books
The New Bridge Foundation
Reading Real Estate Foundation
Restore the Music
RNLI Brixham
Stamfordham PCC
Stamfordham Primary School
Stamfordham Playing Field & Village Hall
The Felix Project
Canine Partners
The Children's Magical Taxi Tour
Grief Encounter
New Bridge
Grants under £1,000
Grants were paid to 31 (2022 - 31) organisations during the year.|**2023**
**£**
**1,500**
**1,500**
**1,000**
**1,000**
**1,250**
**1,250**
**1,500**
**-**
**1,000**
**1,000**
**1,000**
**1,000**
**-**
**1,000**
**1,500**
**1,500**
**1,250**
**18,250**
**8,750**
**27,000**|_2022_
_£_
_1,500_
_1,250_
_1,000_
_1,000_
_1,250_
_1,250_
_1,000_
_1,500_
_1,000_
_1,000_
_1,000_
_1,000_
_1,000_
_-_
_-_
_-_
_-_|
|---|---|---|
|||_14,750_
_12,250_|
|||_27,000_|
||||
## **6. Analysis of expenditure on charitable activities**
## **Summary by fund type**
||**Unrestricted**||
|---|---|---|
||**funds**|**Total**|
||**2023**|**2023**|
||**£**|**£**|
|Grants payable|34,546|**34,546**|
Page 12
## **THE CHRISTOPHER ROWBOTHAM CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023**
## **6. Analysis of expenditure on charitable activities (continued)**
## **Summary by fund type (continued)**
||_Unrestricted_||
|---|---|---|
||_funds_|_Total_|
||_2022_|_2022_|
||_£_|_£_|
|Grants payable|_34,259_|_34,259_|
## **7. Analysis of expenditure by activities**
|Grants payable
Grants payable|**Grant**
**funding of**
**activities**
**2023**
**£**
27,000
_Grant_
_funding of_
_activities_
_2022_
_£_
_27,000_|**Support**
**costs**
**2023**
**£**
7,546
_Support_
_costs_
_2022_
_£_
_7,259_|**Total**
**funds**
**2023**
**£**
**34,546**|
|---|---|---|---|
||||_Total_
_funds_
_2022_
_£_
_34,259_|
Page 13
## **THE CHRISTOPHER ROWBOTHAM CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023**
## **7. Analysis of expenditure by activities (continued)**
## **Analysis of support costs**
|Independent Examiner's fees
Accountancy fees
Secretarial services
Sundry expenses
Trustees expenses reimbursed
Bank charges
**Total 2023**|**Grants**
**payable**
**2023**
**£**
2,320
3,260
1,500
216
50
200
7,546|**Total**
**funds**
**2023**
**£**
**2,320**
**3,260**
**1,500**
**216**
**50**
**200**
**7,546**|
|---|---|---|
|Independent Examiner's fees
Accountancy fees
Secretarial services
Sundry expenses
Trustees expenses reimbursed
Bank charges
_Total 2022_|_Grants_
_payable_
_2022_
_£_
_2,160_
_3,040_
_1,500_
_103_
_257_
_199_
_7,259_|_Total_
_funds_
_2022_
_£_
_2,160_
_3,040_
_1,500_
_103_
_257_
_199_
_7,259_|
|---|---|---|
All support costs relate to the governance of the charity.
Page 14
## **THE CHRISTOPHER ROWBOTHAM CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023**
## **8. Independent examiner's remuneration**
||**2023**|_2022_|
|---|---|---|
||**£**|_£_|
|Fees payable to the Charity's independent examiner for the independent|||
|examination of the Charity's annual accounts|**2,320**|_2,160_|
|Fees payable to the Charity's independent examiner in respect of:|||
|Provision of accountancy services|**3,260**|_3,040_|
## **9. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2022 - £NIL)_ .
During the year ended 5 April 2023, Trustee expenses have been reimbursed of £50 _(2022 - £257)_ .
## **10. Fixed asset investments**
|**Cost or valuation**
At 6 April 2022
Additions
Disposals
Revaluations
At 5 April 2023
**Net book value**
At 5 April 2023
_At 5 April 2022_|**Listed**
**investments**
**£**
**1,573,872**
**375,142**
**(424,402)**
**(101,394)**|
|---|---|
||**1,423,218**|
||**1,423,218**|
||_1,573,872_|
Page 15
## **THE CHRISTOPHER ROWBOTHAM CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023**
## **11. Debtors**
|**Due within one year**
Unremitted dividend income|**2023**
**£**
**2,822**
**2,822**|_As restated_
_2022_
_£_
_2,696_|
|---|---|---|
|||_2,696_|
In prior years cash held by the investment manager was treated as a debtor. This has been reallocated to Cash at bank and in hand and the comparative figures have been restated accordingly.
## **12. Creditors: Amounts falling due within one year**
|Accruals
**13.**
**Financial instruments**
**Financial assets**
Financial assets measured at fair value through income and expenditure|**2023**
**£**
**5,581**
**2023**
**£**
**1,423,218**|_2022_
_£_
_7,885_|
|---|---|---|
|||_2022_
_£_
_1,573,872_|
Financial assets measured at fair value through income and expenditure comprise investments in shares. All investments are carried at their fair value. Investment in equities and other securities are all traded in quoted public markets. The basis of fair value for quoted investments is equivalent to the market value.
The main risk to the Trust from these financial instruments lies in the combination of uncertain investment markets and volatility in yield. The Trust manages these investment risks by retaining expert advisors and operating an investment policy that provides for a high degree of diversification of holdings within investment asset classes that are quoted on recognised stock exchanges. The Trust does not make use of derivatives and similar complex financial instruments.
Page 16
## **THE CHRISTOPHER ROWBOTHAM CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023**
|**14.**
**Statement of funds**
**Statement of funds - current year**
**Balance at 6**
**April 2022**
**£**
**Income**
**£**
**Unrestricted**
**funds**
Capital fund
**1,588,228**
**-**
Income fund
**6,255**
**27,399**
**1,594,483**
**27,399**
**Statement of funds - prior year**
_Balance at_
_1 April 2021_
_£_
**Unrestricted funds**
Capital fund
_1,551,526_
Income fund
_24,866_
_1,576,392_|**Expenditure**
**£**
**(9,923)**
**(34,546)**
**(44,469)**
_Income_
_£_
_-_
_26,540_
_26,540_|**Transfers**
**in/out**
**£**
**(10,892)**
**10,892**
**-**
_Expenditure_
_£_
_-_
_(45,151)_
_(45,151)_|**Gains/**
**(Losses)**
**£**
**(101,394)**
**-**
**(101,394)**
_Gains/_
_(Losses)_
_£_
_36,702_
_-_
_36,702_|**Balance at 5**
**April 2023**
**£**
**1,466,019**
**10,000**
**1,476,019**|
|---|---|---|---|---|
|||||_Balance at_
_5 April 2022_
_£_
_1,588,228_
_6,255_
_1,594,483_|
The transfer between funds represents investment manager's costs reallocated to the capital fund.
## **15. Analysis of net assets between funds Analysis of net assets between funds - current year**
|**Unrestricted**
**funds**
**2023**
**£**
Fixed asset investments
1,423,218
Current assets
58,382
Creditors due within one year
(5,581)
**Total**
1,476,019|**Total**
**funds**
**2023**
**£**
**1,423,218**
**58,382**
**(5,581)**
**1,476,019**|
|---|---|
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## **THE CHRISTOPHER ROWBOTHAM CHARITABLE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023**
## **15. Analysis of net assets between funds (continued)**
## **Analysis of net assets between funds - prior year**
|Fixed asset investments
Current assets
Creditors due within one year
**Total**|_Endowment_
_funds_
_2022_
_£_
_1,573,872_
_28,496_
_(7,885)_
_1,594,483_|_Unrestricted_
_funds_
_2022_
_£_
_-_
_-_
_-_
_-_|_Total_
_funds_
_2022_
_£_
_1,573,872_
_28,496_
_(7,885)_
_1,594,483_|
|---|---|---|---|
## **16. Related party transactions**
The Charitable Trust has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charitable Trust at 5 April 2023.
Page 18