Trustees’ Annual Report for the period
From 01/04/2022 Period start date To 31/03/2023 Period end date
Charity name: The Penny Trust
Charity registration number: 265887
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | The object of the Trust is to support and encourage faith-based organisations, individuals and work worldwide. |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
Grants are made to faith-based organisations and individuals known to the trustees, who work worldwide to help alleviate poverty, provide education and promote religious activities. The grants are pre-approved by the Trustees and the Penny Trust facilitates the distribution of the donations received. |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | The Penny Trust has complied with the duty in section 4 of the 2006 Charities Act to have due regard to guidance published by the Charity Commission (i.e. public benefit statement). |
Additional information (optional)
You may choose to include further statements where relevant about:
SORP reference Para 1.38 Policy on grant making Para 1.38 Policy on social investment including program related investment Para 1.38 Contribution made by volunteers
Other
Achievements and Performance
| SORP reference | ||
|---|---|---|
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | Throughout the year, the Charity facilitated the distribution of grants in the amount of £52,432. All of these grants were made in accordance with the Charity’s objectives. |
Additional information (optional)
You may choose to include further statements where relevant about:
Achievements against objectives set |
Para 1.41 |
|
|---|---|---|
| Performance of fundraising activities against objectives set |
Para 1.41 | |
| Investment performance against objectives |
Para 1.41 | |
| Other |
Financial Review
| Financial Review | ||
|---|---|---|
| Review of the charity’s financial position at the end of the period |
Para 1.21 | The Charity held unrestricted funds of £8,130 and restricted funds of £5,020 at the year-end |
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | Restricted funds are held and then distributed in accordance with donor wishes. Unrestricted funds are held for both administrative purposes and for distribution to good causes as decided by the Trustees. |
| Amount of reserves held | Para 1.22 | |
| Reasons for holding zero reserves |
Para 1.22 | |
| Details of fund materially in deficit |
Para 1.24 | None |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | None |
Additional information (optional)
You may choose to include further statements where relevant about:
The charity’s principal sources of funds (including Para 1.47 any fundraising) Investment policy and objectives including any Para 1.46 social investment policy adopted A description of the principal Para 1.46 risks facing the charity Other
Structure, Governance and Management
| Description of charity’s trusts: |
||
|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 | Trust Deed |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | Trusts |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | Appointed at Trustee Meetings |
Additional information (optional)
You may choose to include further statements where relevant about:
Policies and procedures adopted for the induction and training of trustees |
Para 1.51 |
|
|---|---|---|
| The charity’s organisational structure and any wider network with which the charity works |
Para 1.51 | |
| Relationship with any related parties |
Para 1.51 | |
| Other |
Reference and Administrative details
| Charity name | The Penny Trust |
|---|---|
| Other name the charity uses | Penny Trust |
| Registered charity number | 265887 |
| Charity’s principal address | 24 Harding Close Redbourn AL3 7NT |
Names of the charity trustees who manage the charity
| 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 |
Trustee name | Office (if any) | Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee (ifany) |
|---|---|---|---|---|
| Mrs RosemaryFry | Chair | |||
| Mr Michael Green | ||||
| Mr Mark Hopkins | ||||
| Ms Suzanne Avery | ||||
– Corporate trustees names of the directors at the date the report was approved
Director name
Name of trustees holding title to property belonging to the charity
Trustee name Dates acted if not for whole year
Funds held as custodian trustees on behalf of others
Description of the assets held in this capacity
Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects
Details of arrangements for safe custody and segregation of such assets from the charity’s own assets
Additional information (optional)
Names and addresses of advisers (Optional information)
Type of Name Address adviser
Name of chief executive or names of senior staff members (Optional information)
Exemptions from disclosure
Reason for non-disclosure of key personnel details
Other optional information
Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
Signature(s)
Full name(s)
Position (eg Secretary, Chair, etc)
Date
| Charity Name The Penny Trust |
Charity Name The Penny Trust |
Charity Name The Penny Trust |
No (if any) 265887 |
|
|---|---|---|---|---|
| For the period from |
Period start date 4/1/2022 |
To | Period end date 3/31/2023 |
| Section A Receipts and payments | ||||
|---|---|---|---|---|
| A1 Receipts Gifts and Donations 1,231 Gift Aid Received - Bank Interest 18 - - - - - 1,249 - - Sub total - Total receipts 1,249 A3 Payments Awards and Grants - Independent Examiner's Fee 600 Administration Expense 2,774 - - - - - - Sub total 3,374 - - Sub total - Total payments 3,374 Net of receipts/(payments) - 2,125 A5 Transfers between funds - A6 Cash funds last year end 10,255 Cash funds this year end 8,130 Unrestricted funds to the nearest £ Sub total(Gross income for AR) A2 Asset and investment sales, (see table). A4 Asset and investment purchases, (see table) |
to the nearest £ 43,539 5,081 - - - - - - 48,620 - - - 48,620 52,432 - - - - - - - - 52,432 - - - 52,432 - 3,812 - 8,832 5,020 Restricted funds |
to the nearest £ Endowment funds |
Total funds to the nearest £ 44,770 5,081 18 - - - - - 49,869 - - - 49,869 52,432 600 2,774 - - - - - - 55,806 - - - 55,806 - 5,937 - 19,087 13,150 |
Last year to the nearest £ |
| - - - - - - - - - |
44,770 | 42,914 | ||
| 5,081 | 3,144 | |||
| 18 | 2 | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| 49,869 | 46,060 | |||
| - - - |
- | |||
| - | - | |||
| - | - | |||
| - | 49,869 | 46,060 | ||
| - - - - - - - - - - |
52,432 | 45,660 | ||
| 600 | 600 | |||
| 2,774 | 3,779 | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| 55,806 | 50,039 | |||
| - - - |
- | |||
| - | ||||
| - | - | |||
| - | 55,806 | 50,039 | ||
| - 3,812 | - - - - |
- 5,937 | - 3,979 | |
| - | - | - | ||
| 8,832 | 19,087 | 23,066 | ||
| 5,020 | 13,150 | 19,087 |
Section B Statement of assets and liabilities at the end of the period
| Categories B1 Cash funds B2 Other monetary assets B3 Investment assets B5 Liabilities B4 Assets retained for the charity’s own use |
Details Cash in bank and in hand Details Details Details Details Total cash funds (agree balances with receipts and payments account(s)) |
to nearest £ 8,130 - - 8,130 OK to nearest £ - - - - - - Unrestricted funds Unrestricted funds Fund to which asset belongs Fund to which asset belongs Fund to which liability relates |
to nearest £ 5,020 - - 5,020 OK to nearest £ - - - - - - Cost (optional) - - - - - Cost (optional) - - - - - - - - - - - - - - Restricted funds Restricted funds Amount due (optional) |
to nearest £ Endowment funds |
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| - | ||||
| - | ||||
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| OK | ||||
| to nearest £ Endowment funds |
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| Current value (optional) |
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| Current value (optional) |
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| When due (optional) |
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Signed by one or two trustees on behalf of all the trustees
Signature
Date of Print Name approval
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesl membern of The Penny Trust On accounts for the year ended 31. March 2023 Charity no lif any) 265887 Sot out on pages I report to the trustees on my examination of the accounts of the above charity (Yhe Trust'l for the year ended 3110312023. Responsibilities arKI basis of report As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act'}. I report in respect of my examination of the charity accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 14515)Ib) of the Act. Independent l am qualified to undertake the examination by being a qualified member of examlnefs statement the Institute of Financial Accountants. I have completed my examination. I confirm Ihal no material matters have come to my attention in connection wrth the which grves me cause to believe that in, any material respect.. the accounting records were not kept in accordan with secb'on 130 of the Charities Act., or Ihe accounts did not accord with the accounting records,. or the accounts did not comply with the applicable requirements concerning the fomi and content of accounts set out in the Charities {ArKounls and Reports) Regulations 2008 other than any requirement thal the account8 give 8 'true and fair, view which is not a matter considered as part of an independent examination. I have no cOnrn8 and have come across no other matters in conTrection with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the a¢unt5 to be reached. Signed: 1515/23 Name: BRENDAN CHAMBERS Rèlevant professional qualificationls} or body {if any): F.F.A. IER Oct 2018
Address: Fountain Court 2 Victoria Square. St Ajbans. Hertfordshire. AL1 3TF Section B Disclosure Only complele If Ihe examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts.. directions and guidance for examiners). Give here brief detalls of any items that the examiner wishes to disclose. IER Oct 2018