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2022-04-05-accounts

Charity no: 269524 (England and Wales)

MRS WINGFIELD'S CHARITABLE TRUST TRUSTEES' REPORT AND ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2022

Chartered Accountants

MRS WINGFIELD'S CHARITABLE TRUST

CONTENTS

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Page
Legal and administrative information 1
Trustees' report 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the accounts 6 - 9
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MRS WINGFIELD'S CHARITABLE TRUST

REFERENCE AND ADMINISTRATIVE INFORMATION

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Charity name Mrs Wingfield's Charitable Trust
Charity registration number 269524
Principal office 4 Guest Road
Cambridge
CB1 2AL
Trustees H M Wingfield
I L Mullings
K Hobbs
Independent examiner Michael McMahon
Accountants Edwards and Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset DT1 1HA
Principal bankers CAF Bank
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
Investment managers Rathbone Greenbank Investments
10 Queen Street
Bristol, BS1 4NT
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MRS WINGFIELD'S CHARITABLE TRUST

TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2022

The trustees present their report and the accounts of the charity for the year ended 5 April 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and accounts of the charity.

The accounts have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s trust deed, the Charities Act 2011 and 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 published in October 2019.

Objectives and activities for the public benefit

The charity’s objective is to provide funds for general charitable purposes at the discretion of the trustees. The trustees meet as required to consider applications for grant aid and donations. Decisions to support or deny applications are based on charitable criteria, need and available funds.

In deciding what activities to undertake and to what charitable causes donations should be made, the trustees have paid due regard to the Charity Commission guidance on public benefit.

Achievements, performance and financial review

During the year the charity made donations of £37,885 to various local and national charitable causes (2021 - £47,700).

Income for the year was £39,004 compared with £34,675 in the previous year. Total expenditure was £68,079 compared with £73,103 in the previous year, donations having decreased by £9,815. Net expenditure before investment gains and losses was (£29,075) deficit (2021 - £38,428). Net investment gains were £86,662 so that total funds increased by £57,587 for the year to £2,338,489.

All funds are unrestricted and available for donation for charitable purposes at the discretion of the trustees. Total funds of £2,338,489 therefore represent the reserves of the charity. The trustees carefully monitor the levels of investments held and resulting investment income to determine the amount of donations that can be made in the year.

Structure, governance and management

The charity is governed by a deed of trust dated 22 March 1974 and was registered with the Charity Commission on 3 July 1975.

The trustees have absolute discretion to invest the funds of the charity in any stocks, securities, other investments or property as they see fit.

The trustees have the power to appoint any additional trustees as they see fit.

Approved by the trustees on 4 November 2022

and signed on their behalf by Ms H Wingfield

MRS WINGFIELD'S CHARITABLE TRUST

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MRS WINGFIELD'S CHARITBLE TRUST

I report to the charity trustees on my examination of the accounts of Mrs Wingfield's Charitable Trust (the Trust) for the year ended 5 April 2022 which are set out on pages 4 to 9.

Responsibilities and 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 Trust’s 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 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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.

Michael McMahon

31 December 2022

2 North Street Charminster Dorchester Dorset DT2 9QS

MRS WINGFIELD'S CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2022

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Total funds Total funds
2022 2021
Note £
Income
Income from investments 4 39,003 34,657
Interest received 1 18
Total income 39,004 34,675
Expenditure
Donations 5 37,885 47,700
Brokers' fees 26,416 20,503
Accountancy fees 3,708 4,880
Bank charge 70 20
Total expenditure 68,079 73,103
Net Income/(expenditure) before
gains/(losses) on investments (29,075) (38,428)
Realised gain on disposal of investments 6
86,662 532,330
Unrealised (loss)/gain on revaluation of investments 6
Net (expenditure)/income for the year 57,587 493,902
Reconciliation of funds:
Total funds brought forward 2,280,902 1,787,000
Total funds carried forward 2,338,489 2,280,902
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MRS WINGFIELD'S CHARITABLE TRUST

BALANCE SHEET AS AT 5 APRIL 2022

Note
Fixed assets
Investments
6
Current assets
Debtors
7
Cash at bank - NatWest
Cash at brokers - capital account
Cash at brokers - income account
Cash at CAFCash account
Cash at E&K client account
Liabilities
Creditors: amounts falling due
within one year
8
Net current assets
Net assets
Funds
Unrestricted income funds		 Total funds
2022
£
2,264,432
2,713
725
64,785
1,492
12,591
82,306
(8,249)
74,057
2,338,489
2,338,489		 Total funds
2021
£
2,223,501
1,572
12,325
42,303
1,187
-
6,292
63,679
(6,278)
57,401
2,280,902
2,280,902

Approved by the trustees on 4 November 2022

and signed on their behalf by Ms H Wingfield

MRS WINGFIELD'S CHARITABLE TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2022

1 Accounting policies

(a) Basis of preparation

Mrs Wingfield's Charitable Trust was created under deed of trust and registered as a charity in England and Wales. The address of the principal office is given in the charity information on page 1 of these financial statements.

The charity constitutes a public benefit entity as defined by FRS 102. The accounts have been prepared 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) issued In October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice.

The accounts 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 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) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The accounts are prepared on a going concern basis under the historical cost convention. The accounts are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these accounts are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

(b) 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.

Fixed interest income 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 brokers.

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by the brokers.

(c) Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. Irrecoverable VAT is included in the costs of those items to which it relates.

MRS WINGFIELD'S CHARITABLE TRUST

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

(e) Fixed asset investments

Listed investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘gains/(losses) on investments’ in the statement of financial activities.

Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value.

(f) Funds

All the charity's funds are unrestricted funds. These are expendable at the discretion of the trustees in furtherance of the objects of the charity. Such funds may be held in order to provide both working capital and capital investment.

2 Accountants' remuneration

Accountants' remuneration represents accountancy fees of £3,708 (2021 - £4,880).

3 Trustees' remuneration and expenses and related party transactions.

No remuneration or expenses were paid out of the funds of the charity in the year to any trustee or any person known to be connected with a trustee.

Mrs K Hobbs, a trustee of the charity, is also senior partner of Edwards and Keeping, the charity's accountants. Fees for accountancy services amounting to £3,708 (2021 - £4,880) have been charged by Edwards and Keeping to the charity for the year to 5 April 2022 on an arms-length basis.

4
Investment income
UK equities
UK fixed interest
UK unit trust dividends
UK unit trust interest
Invesment Trusts
UK property income
Overseas equities
Overseas fixed interest
Offshore income		 2022
£
18,482
1,891
737
7,948
441
1,572
6,378
985
570
39,003		 2021
£
16,195
1,660
1,845
7,673
-
688
3,594
2,364
638
34,657

MRS WINGFIELD'S CHARITABLE TRUST

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

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5 Donations 2022 2021 2020
£ £ £
Beat (Eating Disorders) - 500 -
British Red Cross (Yemen) 5,000 4,500 -
British Red Cross (Ukraine ) 5,000 - -
Camfed International - 1,500 -
Centre for Womens justice - 500 -
Centre Point - 100 -
Dementia UK - 1,000 -
End Violence Against Women 500 - -
Excellent Development (Africa) - 1,000 -
Heart of England Community Foundation - 2,000 -
Holy Trinty Church 200 100 200
Homeless - 100 -
Home-Start Telford & Wrekin 3,000 - -
Hourglass - 1,000
League of Friends Shrewsbury Hospital 4,000 - -
Lingen Davies Cancer Fund 100
London Legal Supoort Trust - - 100
Lyme Disease Action - - -
Midland Air Ambulance 100 - -
MND Motor Neurone Association - - 100
National Emergencies Fund - 20,000 -
Network for Social Change 12,985 3,200 6,754
Refuge 2,000 -
Samaritans Shrewsbury 600 1,000 -
Severn Hospice 2,100 2,000 -
Shrewsbury Ark 1,100 - -
Shrewsbury and Telford Hospital - 2,000 -
Solace Women's Aid - 1,000 -
Southall Black Sisters - 1,000 -
The Marches Riding for the Disabled Asociation 1,000 - -
VSO - 100 -
Walder Quest - - 100
Whitechapel Homeless Mission 200 100 -
Women's Aid 2,000 3000 -
Other - issued not presented - - (400)
37,885 47,700 6,854
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MRS WINGFIELD'S CHARITABLE TRUST

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

6
Investments
Market value at 6 April 2021
Acquisitions at cost
Disposal proceeds
Realised gain on disposal
Unrealised (loss)/gain on revaluation
Market value at 5 April 2022
Investments at fair value comprised:-
Fixed interest
UK equities
UK property fund
Overseas equities
Alternatives		 2022
£
2,223,501
189,141
(234,872)
2,264,432
334,134
597,899
0
1,091,672
240,727
2,264,432
86,662		 2021
£
1,671,512
484,814
(465,155)
2,223,501
366,116
601,755
32,411
1,082,135
141,084
2,223,501
532,330

All investments are carried at their fair value. Investments in equities, funds and fixed interest securities are all traded in quoted public markets, primarily the London Stock Exchange. The basis of fair value for quoted investments is equivalent to the market value.

7
Debtors
Tax recoverable
Dividend received post year-end
8
Creditors: amounts falling due within one year
Accruals		 2022
£
2,575
138
2,713
2022
£
8,249
8,249		 2021
£
1,572
-
1,572
2021
£
6,278
6,278