DocuSign Envelope ID: F12369EE-40DF-4498-8208-AAEED9CE1777
**Charity number: 264042**
## **RUBY AND WILL GEORGE CHARITABLE TRUST**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**For the Year Ended 5 April 2023**
DocuSign Envelope ID: F12369EE-40DF-4498-8208-AAEED9CE1777
## **RUBY AND WILL GEORGE CHARITABLE TRUST**
|**CONTENTS**||
|---|---|
||Page|
|**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1 - 2|
|**Trustees' Report**|3 - 6|
|**Independent Examiner's Report**|7|
|**Statement of Financial Activities**|8|
|**Balance Sheet**|9|
|**Notes to the Financial Statements**|10 - 18|
DocuSign Envelope ID: F12369EE-40DF-4498-8208-AAEED9CE1777
## **RUBY AND WILL GEORGE CHARITABLE TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS For the Year Ended 5 April 2023**
## **Trustees**
Ross Waters, Chairman David George Waters William Richard Ellis Edward Robert Ellis Charles David Ellis Andrew Waters
## **Charity registered number**
264042
## **Principal office**
125 Cloverfield West Allotment Newcastle upon Tyne NE27 0BE
## **Accountants**
Ryecroft Glenton Chartered Accountants 32 Portland Terrace Newcastle upon Tyne NE2 1QP
## **Bankers**
Barclays Bank PLC 5 St Ann's Street Quayside Newcastle upon Tyne NE1 2BH
## **Solicitors**
Womble Bond Dickinson (UK) LLP Helix The Spark Draymans Way Newcastle upon Tyne NE4 5DE
## **Administrator**
D Slattery 125 Cloverfield West Allotment Newcastle upon Tyne NE27 0BE
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## **RUBY AND WILL GEORGE CHARITABLE TRUST**
**REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS (CONTINUED) For the Year Ended 5 April 2023**
## **Investment advisors**
Barclays Investment Solution Limited 1 Churchill Place London E14 5HP
Page 2
DocuSign Envelope ID: F12369EE-40DF-4498-8208-AAEED9CE1777
## **RUBY AND WILL GEORGE CHARITABLE TRUST**
**TRUSTEES' REPORT For the Year Ended 5 April 2023**
The trustees present their annual report together with the financial statements of the charity for the year 6 April 2022 to 5 April 2023.
The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the charity’s governing document, the Charities Act 2011 and the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
## **Objectives and activities**
## **Policies and objectives**
The principal object of the charity is to provide for the advancement of education or the relief of poverty among persons employed or formerly employed in commerce or husbands, wives, widows, widowers or issue of such persons.
The trustees make grants in response to requests for assistance for the objects of advancing education or relieving poverty.
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)'.
## **Achievements and performance**
## **Review of activities**
During the year income of £119,591 (2022 - £112,392) was generated from the investment portfolio, and grants totalling £124,654 (2022 - £99,091) were awarded to 7 institutions and 23 individuals. (2022 - 4 institutions and 28 individuals).
When awards made by the trust are payable by instalments, and later instalments are conditional, these are regarded as provisionally payable rather than liabilities, the trustees having no obligation to pay the future instalments.
The trustees consider the resources of the charity to be adequate to fulfil its obligations.
## **Investment policy and performance**
The trustees have agreed a policy for investing funds and have given their investment manager discretion to manage the portfolio to achieve a long-term income yield of £75,000 pa (base 1994) with a secondary requirement of capital and income growth at least sufficient to protect the real value of the assets.
The trust's funds are invested with Barclays Investment Solution Limited in a portfolio of securities that matches the trustees' risk profile. During the year, the portfolio shows a net deficit of £303,325 (2022: net gain of £231,371).
Whilst the trustees are disappointed with the performance of the portfolio they acknowledge the background of difficult trading conditions on the global market throughout the year.
Page 3
DocuSign Envelope ID: F12369EE-40DF-4498-8208-AAEED9CE1777
## **RUBY AND WILL GEORGE CHARITABLE TRUST**
**TRUSTEES' REPORT (CONTINUED) For the Year Ended 5 April 2023**
## **Achievements and performance (continued)**
## **The charity's activities and the public benefit**
The trustees confirm that they have referred to the general guidance on public benefit published by the Charity Commission when reviewing the charity’s objects and when planning future and conducting current grant-making activities and policies.
The trust exists with dual aims of the alleviation of poverty and the advancement of education. Most of the income generated by the trust’s assets is paid out by way of either one off or continuing grants, made predominantly to those in higher education. A proportion of the grants is made to those in straitened circumstances.
Whilst the trustees particularly welcome applications from the North East of England, where the trust has its roots, the trust awards funds worldwide, though its focus remains within the United Kingdom.
The trust predominantly accepts applications online, though a small minority of applicants may use paper-based applications. The trust accepts referrals from other charitable organisations and third parties, particularly when considering grants for the alleviation of poverty.
## **Financial review**
## **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.
## **Reserves policy**
The trustees' intention is to award grants in line with expected income together with commitments arising from previous awards where grant conditions have been satisfied. Under these circumstances, and given the charity's low level of overhead and support costs, there is no requirement to maintain a level of reserves that does not impact upon the capital base of the charity.
The trustees are aware that the balance of unrestricted funds fell into deficit in the year to 5 April 2021 and further in the year to 5 April 2022 and 2023 with a deficit balance on unrestricted funds in 2023 of £103,742 (2022: £45,739). The trustees are in the process of putting in place a total return policy for the charity to allow past investment gains to be used for the charitable purpose of the charity.
## **Structure, governance and management**
## **Constitution**
By a deed dated 21 February 1966, the settlor William Frederick George established the Celluware Trust and conveyed to the trustees 2,000 shares in Celluware Limited. The name of the trust was changed on 24 April 1993.
The charity was registered with the Charity Commission on 12 October 1973 and was allocated Charity No. 264042.
Page 4
DocuSign Envelope ID: F12369EE-40DF-4498-8208-AAEED9CE1777
## **RUBY AND WILL GEORGE CHARITABLE TRUST**
**TRUSTEES' REPORT (CONTINUED) For the Year Ended 5 April 2023**
## **Structure, governance and management (continued)**
## **Methods of appointment or election of Trustees**
The number of trustees shall not be less than three nor more than seven. New trustees of the trust shall be appointed by the continuing trustees. The trust deed requires that at all times the board includes two lineal descendants of the settlor and his wife, Ruby Eileen George.
## **Trustees remuneration and indemnity**
The trustees shall act without any remuneration except in the case of trustees who are engaged in the professions of accountants or solicitors when such trustees shall be entitled to be paid all usual professional or other charges for any business or act done by them or their respective firms including acts which such trustees could have done personally.
The trustees shall be entitled to reimburse themselves and pay and discharge out of the trust all out of pocket expenses (including travelling expenses) reasonably incurred by them or any of them in or about the execution of the trusts or powers imposed or conferred upon them by virtue of or under this trust deed.
The trustees shall not be liable for loss arising from the investment of accumulated income of the fund and are entitled to be fully and completely indemnified out of the trust against all liabilities of whatever nature incurred by them or any of them pursuant to such trusts or powers.
## **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. The most significant risk is investment risk which is mitigated by using professional investment managers.
Page 5
DocuSign Envelope ID: F12369EE-40DF-4498-8208-AAEED9CE1777
## **RUBY AND WILL GEORGE 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 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 . 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 3 February 2024 and signed on their behalf by:
**David Waters** (Chair of Trustees)
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DocuSign Envelope ID: F12369EE-40DF-4498-8208-AAEED9CE1777
## **RUBY AND WILL GEORGE CHARITABLE TRUST**
**INDEPENDENT EXAMINER'S REPORT For the Year Ended 5 April 2023**
## **Independent Examiner's Report to the Trustees of Ruby and Will George Charitable Trust ('the Charity')**
We report to the charity Trustees on our 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').
We report in respect of our examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out our examination we 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 the relevant version of the 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.
We understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
We have completed our examination. We confirm that no matters have come to our attention in connection with the examination giving us 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.
We 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. Our work has been undertaken so that we might state to the Charity's Trustees those matters we are required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for our work or for this report.
Deborah Graham FCA
5 February 2024
Ryecroft Glenton 32 Portland Terrace Newcastle upon Tyne NE2 1QP
Page 7
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## **RUBY AND WILL GEORGE CHARITABLE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES For the Year Ended 5 April 2023**
|**Note**
**Income and endowments from:**
Investments
3
**Total income and endowments**
**Expenditure on:**
Raising funds
4
Charitable activities
6
**Total expenditure**
**Net expenditure before net (losses)**
**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**|**Endowment**
**funds**
**2023**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**(303,325)**
**(303,325)**
**4,694,503**
**(303,325)**
**4,391,178**|**Unrestricted**
**funds**
**2023**
**£**
**119,591**
**119,591**
**29,038**
**148,556**
**177,594**
**(58,003)**
**-**
**(58,003)**
**(45,739)**
**(58,003)**
**(103,742)**|**Total**
**funds**
**2023**
**£**
**119,591**
**119,591**
**29,038**
**148,556**
**177,594**
**(58,003)**
**(303,325)**
**(361,328)**
**4,648,764**
**(361,328)**
**4,287,436**|_Total_
_funds_
_2022_
_£_
_112,392_
_112,392_
_31,714_
_119,329_
_151,043_
_(38,651)_
_231,371_
_192,720_
_4,456,044_
_192,720_
_4,648,764_|
|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 10 to 18 form part of these financial statements.
Page 8
DocuSign Envelope ID: F12369EE-40DF-4498-8208-AAEED9CE1777
## **RUBY AND WILL GEORGE CHARITABLE TRUST**
## **BALANCE SHEET As at 5 April 2023**
|**Note**
**Fixed assets**
Investments
9
**Current assets**
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within one
year
11
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Charity funds**
Endowment funds
13
Unrestricted funds
13
**Total funds**|**15,117**
**215,612**
**230,729**
**(16,645)**|**2023**
**£**
**4,073,352**
**4,073,352**
**214,084**
**4,287,436**
**4,287,436**
**4,391,178**
**(103,742)**
**4,287,436**|_16,162_
_243,035_
_259,197_
_(16,650)_|_2022_
_£_
_4,406,217_
_4,406,217_
_242,547_
_4,648,764_
_4,648,764_
_4,694,503_
_(45,739)_
_4,648,764_|
|---|---|---|---|---|
The financial statements were approved and authorised for issue by the Trustees on 03 February 2024 and signed on their behalf by:
**David Waters**
(Chair of Trustees)
The notes on pages 10 to 18 form part of these financial statements.
Page 9
DocuSign Envelope ID: F12369EE-40DF-4498-8208-AAEED9CE1777
## **RUBY AND WILL GEORGE CHARITABLE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 5 April 2023**
## **1. General information**
The Trust is a charity. The address of the Trust is 125 Cloverfield, West Allotment, Newcastle upon Tyne, NE27 0BE. The charity number is 264042.
The Trust operates as a grant-making charity.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the relevant version of the 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) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Accounting Practice.
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 relevant version of the 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) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Ruby and Will George 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 Going concern**
The trustees have prepared these financial statements on the basis that the trust is a going concern. They are aware that incoming resources arising from investment performance may not always cover grants and other resources expended. Whilst the Trust Deed allows the trustees to apply funds from the accumulated income fund only, relevant measures have been taken to adopt a total return policy to allow funds to be applied from endowment fund gains. The trustees are aware of the accumulated deficit on the income fund but are satisfied that the trust continues to meet grant commitments and the going concern basis of accounting is relevant in preparing these financial statements. The trustees have no plans for significant expenditure in the forthcoming twelve months that will cause them to change their assessment of going concern.
## **2.3 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.
Page 10
DocuSign Envelope ID: F12369EE-40DF-4498-8208-AAEED9CE1777
## **RUBY AND WILL GEORGE CHARITABLE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 5 April 2023**
## **2. Accounting policies (continued)**
## **2.4 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.
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.
## **2.5 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 institution with whom the funds are deposited.
## **2.6 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.
## **2.7 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.
## **2.8 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.
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## **RUBY AND WILL GEORGE CHARITABLE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 5 April 2023**
## **2. Accounting policies (continued)**
## **2.9 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.
## **2.10 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.
## **2.11 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.
## **3. Investment income**
|**Unrestricted**
**funds**
**2023**
**£**
Investment income
119,085
Bank interest
506
**Total 2023**
119,591
_Unrestricted_
_funds_
_2022_
_£_
Investment income
_112,367_
Bank interest
_25_
_Total 2022_
_112,392_|**Total**
**funds**
**2023**
**£**
**119,085**
**506**|
|---|---|
||**119,591**|
||_Total_
_funds_
_2022_
_£_
_112,367_
_25_|
||_112,392_|
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## **RUBY AND WILL GEORGE CHARITABLE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 5 April 2023**
## **4. Investment management costs**
|**Unrestricted**
**funds**
**2023**
**£**
Investment management fees
29,038
_Unrestricted_
_funds_
_2022_
_£_
Investment management fees
_31,714_|**Total**
**funds**
**2023**
**£**
**29,038**|
|---|---|
||_Total_
_funds_
_2022_
_£_
_31,714_|
## **5. Analysis of grants**
|Grants, Direct costs
Grants, Direct costs|**Grants to**
**Institutions**
**2023**
**£**
93,472
_Grants to_
_Institutions_
_2022_
_£_
_45,123_|**Grants to**
**Individuals**
**2023**
**£**
31,182
_Grants to_
_Individuals_
_2022_
_£_
_53,968_|**Total**
**funds**
**2023**
**£**
**124,654**|
|---|---|---|---|
||||_Total_
_funds_
_2022_
_£_
_99,091_|
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## **RUBY AND WILL GEORGE CHARITABLE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 5 April 2023**
## **6. Analysis of expenditure by activities**
|Direct costs - Grant making
Direct costs - Grant making
**Analysis of support costs**|**Grant**
**funding of**
**activities**
**2023**
**£**
124,654
_Grant_
_funding of_
_activities_
_2022_
_£_
_99,091_|**Support**
**costs**
**2023**
**£**
23,902
_Support_
_costs_
_2022_
_£_
_20,238_|**Total**
**funds**
**2023**
**£**
**148,556**|
|---|---|---|---|
||||_Total_
_funds_
_2022_
_£_
_119,329_|
|||||
|Administrator fees and expenses
Trustees travel reimbursed
Professional fees
Other costs
Bank charges
Governance costs
**Total 2023**|**Activities**
**2023**
**£**
15,000
1,279
277
1,856
50
5,440
23,902|**Total**
**funds**
**2023**
**£**
**15,000**
**1,279**
**277**
**1,856**
**50**
**5,440**|
|---|---|---|
|||**23,902**|
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## **RUBY AND WILL GEORGE CHARITABLE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 5 April 2023**
## **6. Analysis of expenditure by activities (continued)**
## **Analysis of support costs (continued)**
|Administrator fees and expenses
Room hire
Trustees expenses reimbursed
Other costs
Bank charges
Governance costs
_Total 2022_
**.**
**Governance costs above comprise of:**
Independent examiner's fee
Accountancy fee
Administrator's expenses
**7.**
**Independent examiner's remuneration**
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts
Fees payable to the Charity's independent examiner in respect of:
Accountancy fees|_Activities_
_2022_
_£_
_12,001_
_1,104_
_741_
_1,544_
_77_
_4,771_
_20,238_
**2023**
**£**
**1,357**
**3,347**
**736**
**5,440**
**2023**
**£**
**1,357**
**3,347**|_Total_
_funds_
_2022_
_£_
_12,001_
_1,104_
_741_
_1,544_
_77_
_4,771_|
|---|---|---|
|||_20,238_|
|||_2022_
_£_
_1,262_
_3,118_
_391_|
|||_4,771_|
|||_2022_
_£_
_1,262_
_3,118_|
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## **RUBY AND WILL GEORGE CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 5 April 2023**
## **8. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2022 - £NIL)_ .
During the year, expenses totalling _£_ 1,279 were reimbursed or paid directly to 4 Trustees _(2022 - £741 to 4 Trustees)_ .
## **9. Fixed asset investments**
|**Cost or valuation**
At 6 April 2022
Additions
Disposals
Revaluations
At 5 April 2023|**Listed**
**investments**
**£**
**4,324,677**
**626,825**
**(664,505)**
**(306,742)**
**3,980,255**|**Cash held**
**for re-**
**investment**
**£**
**81,540**
**159,729**
**(148,172)**
**-**
**93,097**|**Total**
**£**
**4,406,217**
**786,554**
**(812,677)**
**(306,742)**|
|---|---|---|---|
||||**4,073,352**|
## **10. Debtors**
|**Due within one year**
Accrued income
Other debtors
**Creditors: Amounts falling due within one year**
Other creditors
Accruals and deferred income|**2023**
**£**
**15,117**
**-**
**15,117**
**2023**
**£**
**4,564**
**12,081**
**16,645**|_2022_
_£_
_14,662_
_1,500_|
|---|---|---|
||||
|||_16,162_|
|||_2022_
_£_
_4,389_
_12,261_|
||||
|||_16,650_|
## **11. Creditors: Amounts falling due within one year**
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DocuSign Envelope ID: F12369EE-40DF-4498-8208-AAEED9CE1777
## **RUBY AND WILL GEORGE CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 5 April 2023**
## **12. Financial instruments**
||**2023**|_2022_|
|---|---|---|
||**£**|_£_|
|**Financial assets**|||
|Financial assets measured at fair value through income and expenditure|**3,980,255**|_4,324,677_|
Financial assets measured at fair value through income and expenditure comprise listed investments.
## **13. Statement of funds**
## **Statement of funds - current year**
||**Balance at 6**|||**Gains/**|**Balance at 5**|
|---|---|---|---|---|---|
||**April 2022**|**Income**|**Expenditure**|**(Losses)**|**April 2023**|
||**£**|**£**|**£**|**£**|**£**|
|**Unrestricted funds**||||||
|General Funds|**(45,739)**|**119,591**|**(177,594)**|**-**|**(103,742)**|
|**Endowment funds**||||||
|Endowment Funds|**4,694,503**|**-**|**-**|**(303,325)**|**4,391,178**|
|**Total of funds**|**4,648,764**|**119,591**|**(177,594)**|**(303,325)**|**4,287,436**|
|**Statement of funds - prior year**||||||
||_Balance at_|||_Gains/_|_Balance at_|
||_6 April 2021_|_Income_|_Expenditure_|_(Losses)_|_5 April 2022_|
||_£_|_£_|_£_|_£_|_£_|
|**Unrestricted funds**||||||
|General Funds|_(7,088)_|_112,392_|_(151,043)_|_-_|_(45,739)_|
|**Endowment funds**||||||
|Endowment Funds|_4,463,132_|_-_|_-_|_231,371_|_4,694,503_|
|**Total of funds**|_4,456,044_|_112,392_|_(151,043)_|_231,371_|_4,648,764_|
|||||||
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DocuSign Envelope ID: F12369EE-40DF-4498-8208-AAEED9CE1777
## **RUBY AND WILL GEORGE CHARITABLE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 5 April 2023**
## **14. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|Fixed asset investments
Current assets
Creditors due within one year
**Total**
**Analysis of net assets between funds - prior year**
Fixed asset investments
Current assets
Creditors due within one year
**Total**|**Endowment**
**funds**
**2023**
**Unrestricted**
**funds**
**2023**
**£**
**£**
4,073,325
27
317,853
(87,124)
-
(16,645)
4,391,178
(103,742)
_Endowment_
_funds_
_2022_
_Unrestricted_
_funds_
_2022_
_£_
_£_
_4,406,217_
_-_
_288,286_
_(29,089)_
_-_
_(16,650)_
_4,694,503_
_(45,739)_|**Total**
**funds**
**2023**
**£**
**4,073,352**
**230,729**
**(16,645)**
**4,287,436**
_Total_
_funds_
_2022_
_£_
_4,406,217_
_259,197_
_(16,650)_
_4,648,764_|
|---|---|---|
## **15. Related party transactions**
The charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the charity at 5 April 2023.
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