## **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**| |---|---|---|---|---| |||||**-**| |||||**-**| |||||**-**| |||||**-**| |||||OK| |||||**to nearest £**
**Endowment**
**funds**| |||||**-**| |||||**-**| |||||**-**| |||||**-**| |||||**-**| |||||**-**| |||||**Current value**
**(optional)**| |||||**-**| |||||**-**| |||||**-**| |||||**-**| |||||**-**| |||||**Current value**
**(optional)**| |||||**-**| |||||**-**| |||||**-**| |||||**-**| |||||**-**| |||||**-**| |||||**-**| |||||**-**| |||||**-**| |||||**When due**
**(optional)**| ||||**-**|| ||||**-**|| ||||**-**|| ||||**-**|| ||||**-**|| 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 cOn￿rn8 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