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Charity number: 262837
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
EMERTON-CHRISTIE CHARITY
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EMERTON-CHRISTIE CHARITY
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 - 15 |
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EMERTON-CHRISTIE CHARITY
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2023
Trustees Dr. C.M. Mera-Nelson, D.Mus., M.Mus., B.Mus., A.R.C.M. Lt. Col. W.D. Niekirk Dr. S.E. Walker, B.A., Dip.Ed., M.B., B.S., M.R.C.G.P.
Charity registered number 262837
Principal office 18 Kirkside Road London SE3 7SQ Accountants Menzies LLP Chartered Accountants Magna House 18-32 London Road Staines-Upon-Thames TW18 4BP Bankers CCLA One Angel Lane London EC4R 3AB Investment advisers Rathbones 1 Curzon Street London W1J 5FB
Page 1
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EMERTON-CHRISTIE CHARITY
TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2023
The trustees present their report for the year ended 5 April 2023.
Epitome
The trustees shall stand possessed of the Trust Fund upon trust to pay or apply the capital or income for such charitable purposes and in such proportions and in such manner and subject to such terms and conditions as they may in their uncontrolled discretion determine. Trustees shall be at least two in number and appointment of new trustees rests with the existing ones.
The Trust Fund includes the sum of £100,000 received from Miss Vera Bishop Emerton on 18 February 1977. Miss Emerton died on 22 October 1987 having by her will bequeathed additional assets to the charitable settlement. By a deed dated 12 April 1977 the whole of the capital and income (including the £100,000) may be paid to any charity whether listed in the second schedule of the Deed of Settlement or not.
On 31 October 1995 the trustees of the Emerton Charitable Settlement resolved to accept a gift of the assets of the Mrs C.M.S. Christie Will Trust (Charity Number 271961) as an addition to their funds. With effect from 6 April 1996 the name of the Charity was changed and by a deed dated 9 April 1996 Dr. N.A. Walker was appointed a trustee to act with Mr. A.F. Niekirk and Mr. Richards, two of the original trustees of the settlement. Mr. Richards died on 9 March 2003 and Dr. C.M. Mera-Nelson, Lt. Col. W.D. Niekirk and Dr. S.E. Walker were appointed trustees on 31 October 2003. Mr A.F. Niekirk died on 28 December 2010. Dr N.A. Walker died on 5 April 2016. J Jeeves LLB TEP (retd) was appointed as a Trustee on 25 September 2017 and resigned on 1 July 2022.
Trustees
The names of the present Trustees are shown on page 1.
Structure and Management Reporting
The trustees are ultimately responsible for the policies, activities and assets of the Charity. They generally meet at least once a year to review developments with regard to the Charity, its grant giving activities and make any important decisions.
Periodically the trustees review the Charity's strategy, including its grant-making policy.
As appropriate, the trustees seek advice and support from the Charity's professional advisers including investment advisers and accountants.
The day-to-day management and administration of the Charity's activities and the implementation of its policies are presently delegated to one of the trustees. The delegated trustee ensures that grant applications are processed and presented to the remaining trustees as appropriate and keeps the books and records of the Charity.
Reserves policy
Taking into account the requirement of Charity SORP 2019 the trustees considered the question of the charity's reserves. None of the deeds and wills by which the charity was formed and enhanced made any specific provision for the creation of an endowment fund. However, over the years the trustees have established a fund which, with re invested gains and surpluses, has resulted in the unrestricted fund disclosed in the accounts.
The trustees have regularly expended almost the entirety of the income produced and they consider that the present level of reserves within the unrestricted fund is adequate to produce an income to meet the annual cost of fulfilling the charity's objectives.
The trustees therefore regard the unrestricted fund as expendable endowment but have no plans to reduce it.
Investment policy
The trustees wish to maintain the capital value of the investment fund at least in line with inflation whilst achieving increased income. The value of the quoted investments at the balance sheet continues to be acceptable to the Trustees.
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EMERTON-CHRISTIE CHARITY
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023
Summary of the main activities undertaken for the public benefit
The trustees are generally satisfied with the extent to which they have been able to assist various organisations during the year, bearing in mind the limitations of the trustees’ investment income. All the donations made in the year have been to benefit the disadvantaged, the arts or recognised health charities.
In planning the activities of the charity the trustees have continually kept in mind the Charity Commission’s guidance on public benefit. In accordance with the original Trust Deed, as amended by the deed dated 12 April 1977, the trustees have power to apply the funds both as to capital and income for such charitable purposes and in such proportions and in such manner and subject to such terms as the trustees may in their uncontrolled discretion determine. The trustees continually consider possible charitable beneficiaries and bear in mind the expressed preferences of those responsible for the creation of the charity, namely Misses M. and V. Emerton and Mrs. C.M.S. Christie. The trustees are not restricted in their charitable benevolence nor do they regard themselves as bound by precedent.
The quoted securities are held with a view to producing income for distribution to deserving organisations.
The trustees are satisfied with the financial position of the trust at the balance sheet date and for the foreseeable future and that the accounts comply with current statutory requirements and the charity’s governing documents.
Having been suitably endowed many years previously, the charity is financially independent of any other source and operates independently of any other organisation. The trustees have considered their investment policy with their stockbrokers and are content with their present arrangements.
Spending Policy
The trustees have adopted a spending policy whereby the intention is to distribute (by way of grants and other expenditure) on such investment income as received each year, and other funds by exception of total assets each year.
To the extent that income generated is not sufficient to cover the total expenditure incurred, capital withdrawals are made to fund the shortfall as permitted under the Constitution.
Grant making policy
Grants are made to selected to UK-registered charities. Applications are not accepted from individuals or other organisations.
Review of Activities
Total investment income received in the year amounts to £102,455 (2022: £81,509).
The trustees awarded grants totalling £60,000 during the year (2022: £104,000) in accordance with the Charity's grantgiving policy set out above. A general breakdown of grants made in the year is included in the Notes to the Accounts.
The trustees are aware that external factors remain which could affect the achievement of their required objectives as a significant part of the Charity's assets are made up of investments, the value of which are dependent upon the general performance of stock markets. In order to mitigate this risk, the trustees have set prudent investment policies and place reliance on the investment managers to monitor and advise on any investment changes required and suitable asset allocation.
Investment income has continued to be affected by the worldwide economic downturn caused by COVID-19 and the ensuing turbulence within global financial markets, however the trustees have taken regular advice from the fund manager and agreed that no major policy changes should be instigated. There remains sufficient cash to continue with the Charity's grant making activities.
The trustees are satisfied with the performance of the investments and remain satisfied that their investment objectives are being met.
Financial Review
A summary of the year's results can be found on page 6 of this report and financial statements.
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EMERTON-CHRISTIE CHARITY
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2023
During the year ended 5 April 2023, total incoming resources amounted to £102,455 (2022: £81,509), being income arising from the Charity's investments and interest receivable.
The trustees awarded grants to 17 organisations (2022: 47) totalling £60,000 (2022: £104,000).
Governance costs represented £5,986 (2022: £7,132).
There were net investment gains during the year of £247,057 (2022: £276,716).
The balance sheet shows total funds of £3,970,850 (2022: £4,210,020).
Risk assessment
Generally, the trustees have considered the major risks faced by the charity and, after review and evaluation, have ensured that systems are in place to manage these.
More specifically, as the principal assets of the charity consist of quoted investments, the trustees have reviewed and confirmed the appointment of investment advisers. Regular advice is received and reviewed with regard to individual holdings in order to manage the exposure to risk from stock market fluctuations.
Trustees’ responsibilities
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the incoming resources and application of the resources of the charity during the year and of its state of affairs at the end of the year. In preparing financial statements giving a true and fair view, the trustees should follow best practice and
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Select suitable accounting policies and then apply them consistently
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Make Judgements and estimates that are reasonable and prudent
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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 operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ascertain its financial position and to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and 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.
Future Plans
The trustees do not anticipate any significant changes to the Charity or its activities over the next two to five years.
It is their intention to meet the following objectives:
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To ensure the investment performance achieves the criteria set by them so that there are sufficient funds to implement their grant-giving policies.
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To continue to make grants in line with the Charity's objectives.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................
Dr C Mera-Nelson Trustee
Date: �����������
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EMERTON-CHRISTIE CHARITY
INDEPENDENT EXAMINERS' REPORT
Independent Examiner's Report to the Trustees of Emerton-Christie Charity ('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 2019.
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.
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: �����������
Janice Matthews FCA
Menzies LLP Magna House 18-32 London Road Staines-Upon-Thames TW18 4BP
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EMERTON-CHRISTIE CHARITY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023
| Note Income from: Investments 2 Total income Expenditure on: Raising funds 3 Charitable activities: Governance Charitable grants Total expenditure Net income/(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 £ 102,455 102,455 28,582 5,986 60,000 94,568 7,887 (247,057) (239,170) 4,210,020 (239,170) 3,970,850 |
Total funds 2023 £ 102,455 102,455 28,582 5,986 60,000 94,568 7,887 (247,057) (239,170) 4,210,020 (239,170) 3,970,850 |
Total funds 2022 £ 81,509 |
|---|---|---|---|
| 81,509 | |||
| 29,838 7,132 104,000 |
|||
| 140,970 | |||
| (59,461) 276,716 |
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| 217,255 | |||
| 3,992,765 217,255 |
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| 4,210,020 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 8 to 15 form part of these financial statements.
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EMERTON-CHRISTIE CHARITY
BALANCE SHEET AS AT 5 APRIL 2023
| Note Fixed assets Investments 7 Current assets Debtors 8 Cash at bank and in hand Creditors: amounts falling due within one year 9 Net current assets Total assets less current liabilities Total net assets Charity funds Unrestricted funds 10 Total funds |
- 366,811 366,811 (173,702) |
2023 £ 3,777,741 3,777,741 193,109 3,970,850 3,970,850 3,970,850 3,970,850 |
1,620 156,162 157,782 (108,620) |
2022 £ 4,160,858 |
|---|---|---|---|---|
| 4,160,858 49,162 |
||||
| 4,210,020 | ||||
| 4,210,020 | ||||
| 4,210,020 | ||||
| 4,210,020 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
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Dr C Mera-Nelson Trustee
Date: �����������
The notes on pages 8 to 15 form part of these financial statements.
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EMERTON-CHRISTIE CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
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.
Emerton-Christie Charity 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.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
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 shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
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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EMERTON-CHRISTIE CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
1. Accounting policies (continued)
1.4 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.
1.5 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 Bank.
1.6 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.7 Liabilities and provisions
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.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
1.8 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.
1.9 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.
Investment income, gains and losses are allocated to the appropriate fund.
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EMERTON-CHRISTIE CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
2. Investment income
| Income from local listed investments Investment income - foreign listed investments Total 2022 |
Unrestricted funds 2023 £ 55,158 47,297 102,455 81,509 |
Total funds 2023 £ 55,158 47,297 102,455 81,509 |
Total funds 2022 £ 53,682 27,827 |
|---|---|---|---|
| 81,509 | |||
3. Investment management costs
| Investment management fees Total 2022 |
Unrestricted funds 2023 £ 28,582 29,838 |
Total funds 2023 £ 28,582 29,838 |
Total funds 2022 £ 29,838 |
|---|---|---|---|
4. Analysis of expenditure by activities
| Institutional grants Total 2022 |
Grant funding of activities 2023 £ 60,000 104,000 |
Support costs 2023 £ 5,986 7,132 |
Total funds 2023 £ 65,986 111,132 |
Total funds 2022 £ 111,132 |
|---|---|---|---|---|
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EMERTON-CHRISTIE CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
4. Analysis of expenditure by activities (continued)
Analysis of support costs
| Activities 2023 £ Accountancy 5,082 Professional fees - Trustees expenses 904 5,986 Total 2022 7,132 Independent examiner's remuneration Fees payable to the Charity's independent examiner for the independent examination of the Charity's annual accounts |
Total funds 2023 £ 5,082 - 904 5,986 7,132 2023 £ 4,235 |
Total funds 2022 £ 4,380 1,680 1,072 |
|---|---|---|
| 7,132 | ||
| 2022 £ 3,850 |
5. Independent examiner's remuneration
6. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2022 - £NIL) .
During the year ended 5 April 2023, expenses totalling £ 904 were reimbursed or paid directly to 1 Trustee (2022 - £ 1,072 to 1 Trustee) .
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EMERTON-CHRISTIE CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
7. 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 £ 4,160,858 547,026 (692,824) (237,319) |
|---|---|
| 3,777,741 | |
| 3,777,741 | |
| 4,160,858 |
8. Debtors
| Due within one year Prepayments and accrued income Creditors: Amounts falling due within one year Other creditors Accruals and deferred income |
2023 £ - - 2023 £ 164,000 9,702 173,702 |
2022 £ 1,620 |
|---|---|---|
| 1,620 2022 £ 104,000 4,620 |
||
| 108,620 |
9. Creditors: Amounts falling due within one year
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EMERTON-CHRISTIE CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
10. Statement of funds Statement of funds - current year
| Unrestricted funds Investment gains Statement of funds - prior year Unrestricted funds Investment gains |
Balance at 6 April 2022 £ 4,210,020 Balance at 1 April 2021 £ 3,992,765 |
Income £ 102,455 Income £ 81,509 |
Expenditure £ (94,568) Expenditure £ (140,970) |
Gains/ (Losses) £ (247,057) Gains/ (Losses) £ 276,716 |
Balance at 5 April 2023 £ 3,970,850 |
|---|---|---|---|---|---|
| Balance at 5 April 2022 £ 4,210,020 |
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EMERTON-CHRISTIE CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
11. Grants
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Age UK Wiltshire | 3,000 | - |
| AMREF Health Africa | 3,000 | - |
| Animal fee research | - | 2,000 |
| Afghanistan & Central Asian Association | - | 2,000 |
| Alzheimers Research | - | 2,000 |
| AMREF | - | 2,000 |
| Auditory Verbal UK | - | 2,000 |
| Autistica | - | 2,000 |
| Calvert Trust | - | 3,000 |
| Carers Trust Heart of England | 3,000 | - |
| CLAN | - | 2,000 |
| Charlie Waller | - | 3,000 |
| Clothing Solutions | - | 2,000 |
| Cure | - | 2,000 |
| Cycle R | - | 2,000 |
| ERIC | - | 2,000 |
| Erskine | - | 2,000 |
| FareShare | 3,000 | - |
| Farming with Trees | - | 2,000 |
| Freedom from Torture | 3,000 | 3,000 |
| Freedom Project West Cumbria | - | 2,000 |
| Future Trees | - | 2,000 |
| Guide Dogs for the Blind | 3,000 | - |
| Inspiring Minds | - | 2,000 |
| Jubiliee Sailing Trust | 5,000 | - |
| Lake District Calvert Trust | 3,000 | - |
| Marie Curie Nursing | 3,000 | - |
| Kidscape | - | 2,000 |
| Listening Books | - | 2,000 |
| Médecin Sans Frontière | 3,000 | 3,000 |
| Medway Watersports Trust Limited | - | 2,000 |
| Mencap | 3,000 | 2,000 |
| National Dance Company Wales | - | 2,000 |
| One25 | - | 2,000 |
| Pain Relief Foundation | - | 2,000 |
| Par Bay Community Trust | - | 2,000 |
| Para Dance UK | - | 2,000 |
| Prevent 2 Protect | - | 2,000 |
| RNIB | 3,000 | 1,000 |
| RNLI | 3,000 | 3,000 |
| Rookhow | - | 2,000 |
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EMERTON-CHRISTIE CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
| Royal Agricultural Benevolent Institution Rural Coffee Caravan Suffolk Scottish Seabirds Centre SEED Shamba Sofa Project SNOOSC Sudden Productions Sunderland Women’s Centre Tall Ships Youth Trust Tech Safe Therapet The Listening Place The Shamba Trust Trinity Laban Washington MIND in Sunderland Zink Employability |
2023 £ - - - - - - 3,000 - - - - - 3,000 3,000 10,000 - - 60,000 |
2022 £ 2,000 2,000 2,000 2,000 2,000 2,000 - 2,000 2,000 2,000 2,000 2,000 - - 10,000 2,000 2,000 |
|---|---|---|
| 104,000 |
Page 15
����������������������������������������������������������
The Emerton-Christie Charity, 18 Kirkside Road, London, SE3 7SQ
Menzies LLP Magna House 18-32 London Road Staines-Upon-Thames TW18 4BP
Dear Sirs,
This representation letter is provided in connection with your independent examination of The EmertonChristie Charity for the year ending 5 April 2023 in accordance with the relevant financial reporting framework, FRS 102 and the Charities SORP.
During the course of the independent examination of our financial statements for the period ending 5 April 2023 the following representations were made to you by management and trustees.
Financial statements
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1 We have fulfilled our responsibilities as trustees under the Charities Act 2011 / Companies Act 2006 for preparing financial statements, in accordance with FRS 102 and the Charities SORP, that give a true and fair view and for making accurate representations to you as independent examiner.
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2 The methods, data and significant assumptions used by us in making accounting estimates and their related disclosures are appropriate to achieve recognition, measurement and disclosure that is reasonable in the context of the applicable financial reporting framework.
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3 We confirm that all events subsequent to the date of the financial statements and for which FRS 102 and the Charities SORP require adjustment or disclosure have been adjusted or disclosed.
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4 We confirm that all related party relationships and transactions have been accounted for and disclosed in accordance with FRS 102 and the Charities SORP.
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5 There are no liabilities, contingent liabilities or guarantees to third parties other than those disclosed in the financial statements.
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6 We confirm that the charity has not contracted for any capital expenditure other than as disclosed in the financial statements.
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7 We believe that the charity ’ s financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the charity’s needs. We also confirm our plans for futures action(s) required to enable the charity to continue as a going concern are feasible. We have considered a period of twelve months from the date of approval of the financial statements. We believe that no further disclosures relating to the charity’s ability to continue as a going concern need to be made in the financial statements.
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8 We confirm the following specific representations made to you:
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Donations payable balance at the year-end of £164,000 is correct and will be paid post year end.
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We have been unable to obtain confirmation of the HSBC bank balance as at 5 April 2023. However, we have prepared a summary of transactions since the last statement in October 2021 to determine the expected balance as at 5 April 2023. We believe this to be correct.
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Information provided
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9 We confirm we have provided you with:
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Access to all information of which we are aware that is relevant to the preparation of the financial statements such as records, documentation and other matters;
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Additional information that you have requested from us for the purpose of the independent examination; and
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Unrestricted access to persons within the entity from whom you determined it necessary to obtain independent examination evidence.
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10 All transactions have been recorded in the accounting records and are reflected in the financial statements.
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11 We confirm that all known actual or possible litigation and claims whose effects should be considered when preparing the financial statements have been disclosed to the independent examiner and accounted for and disclosed in accordance with the applicable financial reporting framework, FRS 102 and the Charities SORP.
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12 We confirm that the related party relationships and transactions set out below are a complete list of such relationships and transactions and that we are not aware of any further related parties or transactions.
| Party | Relationship | Nature of transaction |
|---|---|---|
| Dr. C.M. Mera-Nelson | Trustee | N/A |
| Lt. Col. W.D. Niekirk | Trustee | Re-imbursed expenses |
| Dr. S.E. Walker | Trustee | N/A |
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13 We confirm that we are not aware of any possible or actual instance of non-compliance with those laws and regulations which provide a legal framework within which the charity conducts its business and which are central to the charity's ability to conduct its business, except as explained to you and as disclosed in the financial statements.
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14 We acknowledge our responsibility for the design and implementation of controls to prevent and detect fraud. We have disclosed to you the results of our assessment of the risk that the financial statements may be materially misstated as a result of fraud.
15 We have disclosed to you all information in relation to fraud or suspected fraud that we are aware of and that affects the entity and involves:
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Management;
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Employees who have significant roles in internal control; or
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Others where the fraud could have a material effect on the financial statements.
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16 We have disclosed to you all information in relation to allegations of fraud, or suspected fraud, affecting the entity’s financial statements com municated by employees, former employees, analysts, regulators or others.
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17 We confirm that the charity is eligible for an independent examination of its financial statements, and that there are no circumstances which we should draw to your attention which would invalidate this eligibility.
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18 We confirm that the charity has had communication with the Charity Commission regarding the delayed filling of the 2022 annual return and accounts, but has made no Serious Incident Reports during or since the period except as disclosed to you.
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19 We confirm that the charity has adequate procedures in place to identify intangible income and all intangible income has been appropriately valued and included in the financial statements.
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20 We have reviewed the affairs of the charity and confirm that in our opinion no income is subject to income or capital gains tax. We have also reviewed the VAT treatment in relation to contractual services provided by the charity and confirm that VAT has been correctly accounted for as appropriate.
Yours faithfully,
Signed on behalf of the board of trustees of The Emerton-Christie Charity by:
Trustee ...............................................................
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Date .....................................................................