2021-04-05-accounts

Charity No. 271795 (England and Wales) Tollemache (Buckminster) Charitable Trust Trustees. report and financial statements for the year ended 5 April 2021

Tollemache IBuckmin5terl Charitable Tntst Contents Page Trustee's and charity information Trustee's report Independent examinerfs report Statement of financial activities Ba13nce sheet Notes to the financial statements io Pa8e 2

Tollema¢he18uckminsterl Charitsble Trust Trustee's and charity information For the year ended 5 April 2021 Re8iStered charity number 271795 Trustees Sir Richard Tollemache William Wilks Iresigned 4 December 20201 Lady Tollemache (appointed 4 De￿mber 20201 Administrative office GranEe Farmyard Main Sireet Buckminster Grantham NG33 SSD Bankers Barclay$ Bank UK PIC I Churchill Place London E145HP Investment advisers Aberdeen Standard Capital Limited l George Street Edinburgh EHH 2LL Indepèndent examiner Timothy Gregory FCAcfA Saffery Champness LLP 71 Queon Vittoria Street London EC4V4BE Page 3

Tollemache (Buckminsterl Charltsble Trusl Trustee's report For the year ended 5 April 2021 The Trustees present their Report toeether with the financial statements for the Trust for the year ended 5 April 2021. The legal and administrativc infomTration set out on page 3 fomis part of this report. Objects The Tollemache (Buckminsterl Charttable Trust 15 a charitable trust for gener31 charitable purposes governed by a Charitable Trust Deed and constituted as an unincorporated a5s0ciation. A¢tivities and athievements during the year During the year the Trijst made donations of £21,35012020.. £19,950) to various organisations in line with its objects. Financial review During the year the charity received incoming re50urce5 of £28,15412020.. £33.246I and had total outgoing resources of £32,70412020.. E31,7541 which resulted in net outgoing resources £4,55012020.. net incoming re50urce5 £1.4921. The Trust made a total gain on investments during the year of £231,45912020'. £98,697). Overall, the Trust showed a net intrease in funds of £226.90912020.. £100.1891. Statement of trustees, responsibilities The Tru5tee5 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 Trusiees to prepare financial statements for each financial year which give a tnje and fair view of the state of affairs of the Trust and of the intoming resources and application of resources of the Trust for that period. In preparin8 these financial statements, the trustee is required to.. selert suitable accounting policies and then apply them con5151ently,' observe the methods and principles in the Charities SORP IFRS1021.' make judgements and estimate5 that are reasonable and prudent.. state whèther applicable accounting standards 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 proper accounting records that disclose with reasonable accuracy at any time the financial position of the Trust and to enable them to ensure that the financial statemeni comply with the Charities Act 2011, the applicable accounting regulations, and the provision of the Trust deeds. They are also responsible for safeguarding the assets of the Trusl and taking reasonable steps for the prevention and deteition of fraud and other irregularities. The financial Statements have been prepared in accordance with the accounting policies set out in notes io the accounts and comply wilh the Trust'5 governing document. the Charities Act 20113nd Accounting ancj Reporting by Charitie5', Statement of Recommended Practice applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic ol Ireland published on 16 july 2014. PÈ8È 4

Tollemache (Buckminster) Charitable Trust Trusteds reF)Ort Iconlinuedl For the year ended 5 April 2021 Organisational structure The Trustees who have seNed during the year and since the year end are set out on trustee's and charitable information page. Trustees are appointed by thÈ Board of Trustees. Major decisions relating to the strategy and policies of the Trust are made bythe Trustees as a board. The Trustees meet regularly to review the performance of the investmeni portfolio and discuss donations. The day to day administration is carried out by the Buckminster Management Limited. Risks The major risks to which the Trust is exposed. as identified by the Tru5tee5. have been reviewed and the Trustees are satisfied ihat systems have been established to mitigate these risks. The Trustees recognise that one of the main risks they face include5 the performance of their investments. To mitig3te thi5 risk. investment5 are held by reputable investment managers authorised by the FCA and Trustees receive quarterly performance reports and meet with the investment managers to review investment performance against recognised benchmarks. Reserves policy and grant making poll¢v Oonations made by ihi5 Trust are entirely at the discretion of the Truslee5 and there are no material fixed obligations or undertakings. However. the Trustees ￿¢08n1$e the need to rnaintain a level of reserves in order for the Trust to continue. Free reserves at the year ended were £45.96912020.. £38,856). The TrLJSt owns an investment portfolio and although the Trustees have the Power to use investment$ 8$ income. those Investfflerht5 are not regarded a5 reserves. The Trustee5 have identified that reserves other than the investment portfolio need only to be a minimal level and this level continues to be maintained. To maintain the reserves ne￿SSary to continue in the future. the Trustees reiognise that total expenditure during the year should match total income. in so far as it is possible, whilst also recognising that the Trustees lin conjunctiorh with the investment manager51 may need to consider rep051tioning the inveslment portfolio where appropriate to maintain the historical level of income The petrnanent endowrnent fund represents the value of the assets received from the Earl of Dysart Will Trust Charitable Fund, together with the capital profits or losses arising from revaluation and reinvestment of Ih05e a55etS. Surplus income not distributed during the year 15 added to the unrestricted f und, and 15 available for fijture charitable distributions. Public benefit The Trustees have referred to the Euidance corbtained in the Charity Cofftmi55ion's general guidance on public benefit when reviewing the aims and objectwes and in planr)ingthe future activities. In particular the Trustees consider how planned donations will contribute to the aims and objeclives they have set. The Trustee5 consider the current poliry for making donalions delivers public benefit. Details of the objects which form the basis of this policy are given in the 'Reserves policy 3nd grant making policy, section of ihis report. Investment policy and power5 There are no restrictions on the Trusvs powei to invest. The investment Strateey is Set by the Trustees at such times as they deem this necessary. The Trustees consider the incorne requirements. the risk profile and the investment managerfs view of the market prospects in the medium term. The unrestricted arbd PJEeS

Tollemache {Buckmlnsterl Charitable Trust Trustee's report {COntin￿dI For the year ended 5 April 2021 permanent endowment funds may be invested in anytype of investment. The strategy 15 reviewed regularly with the Trust's investment managers. By virtue of the governlng document the Trustees have (subject to the matters therein mentioned) all the investment powers of benefitial owners. Plans for the future The Trustees intend for the Trust to Continue operating with the same aim5 and objectives as set out above in the report for the foreseeable future. Post year end- COVID-19 The Trustees consider that the Trust is able to operate for at least 12 months from the date of signing the accounts and, as such. is a going concern. Signed on behalf of the Trustees Sir Richard Tollem3che Trustee 25 January 2022 Pa8e6

Tollemache (Buckminster) Charitable Trust

Independent examiner’s report For the year ended 5 April 2021

I report to the Trustees on my examination of the accounts of the Tollemache (Buckminster) Charitable Trust (the Trust) for the year ended 5 April 2021.

Respective Responsibilities of trustees and examiner

As the charity Trustees of the Trust 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.

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Trust and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

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:

1. accounting records were not kept in respect of the Charity as required by section 130 of the 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.

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.

Timothy Gregory FCA CTA 31 January 2022 For and on behalf of Saffery Champness LLP 71 Queen Victoria Street Chartered Accountants London EC4V 4BE

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Tollemache (Butkminster) Charltable Tiwst Statement of Financial Activities For the year ended 5 April 2021 Unrestrirted fund 2021 Pemanent endowment 2021 Total 2021 Total 2020 Note Income from Investments Interest 28,136 18 28.136 18 33,161 85 Total income 28,154 28,154 33,246 Expenditure on Raising fLJnds 9.263 137 9,400 8,884 Charitable activities 23.304 23,304 22,870 Total expenditure 32.567 137 32.704 31,754 Net Idefi¢itl/income before investment movement {4,413) 11371 14,5501 1,492 Net gains on investments 228,125 3,334 231.459 98,697 Net income 223.712 3,197 226,￿9 100,189 Net movement In funds 223,712 3.197 226,909 100.189 Total funds brought forward 1.009,322 12,749 1.022,071 921,882 Total funds carrled forward 1,233,034 15.946 1,248.980 1,022,071 The Statement of Financi31 Activilies includes all gairbs and losses in the year. All of the above amounts relate lo continuing activities. The notes on page$ 10 to IS form part of these financial statements. Page

Tollema¢he IBuckmlnster} Charitable Trust Balancè sheèt As at 5 April 2021 2021 2020 Notes Fixed assets Investments 1,203,011 983.215 Current assets Cash at bank and in hand 51,289 42.348 51,289 42,348 Current liabilities Creditor5.' amounts falling due within one year 15,3201 13,4921 Net current asset5 45.969 38,856 Net assets 1,248,980 1.022,071 Funds Permanent endowment fund Unrestrirted fund 15,946 1.233,034 12,749 I,(K)9,322 1.248,980 1,022,071 These financial statements were approved by the Board of Trusteès on 25 January 2022 and signed on its behalf by.. Sir Richard Tollemache Trvstee Charity No. 271795 PaEe9

Tollemache (Buckminsterl Charitable Trust Notes to the financial statements For the year ended 5 April 2021 Accounting policies 8asis of a¢¢ounting The accounts have been prepared under the historical cost convention with items recogni5ed at cost or transaction value unle55 OthÈrwisÈ stated in the notes lo thèse accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their 3ctounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10215econd edition, and the Financi31 Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charitie5 Act 2011. The accounts Ifinancial statements) have been prepared to give a 'true and fairf view and have departed from the Charities (Accounts and Reports) Regulation$ 2008 only to the extent required to provide a 'true and fair vie￿. This departure has involved following Accouniing and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 rather than the Accounting and Reporting by Charities- Statement of Recommended Practice effective from l April 2005 which has since been withdrawn. The Trust has takerh advantage of the provisions available t9 smaller entities as prescribed in the SORP, including the abilily to dispense with the presentation of a cash flow statement. The Trust constitutes a public benefit entity as (lefined by FRS 102. Going ¢on¢ern The Trustees consider that there are no material untertainties about the Trust's ability to continue as a going concern. and thal the Trust has adequate resource5 to continue in operational existence for the foreseeable future. Investment income Irbvestment income is accounted for in the period in which the Trust Is entitled to receipt. Expenditure Liabilitie$ are recognised as expenditure as soon as there is a legal or constructive obligation committing the Trust to th3t expenditure. it is probable that settlement will be required and the amount of the obligation can be measured reliablv. Expenditure 15 recogni5ed on an accruals basis. All expen5e5 includin6 supporl costs and governance costs are allocated or apportioned lo the applicable expenditure headings. Investments Investments are a form of basic financial instrument and are initially recognised at their tran$3Ction value and subsequently me35ured at their fair value as at the balance sheei date usinE the closing quoted markel price. The statement of financial activities includes the net gains and losses arising on revaluation and dispos31s throughout the year. Page 10

Tollemache (Buckminster) Charilable Trust Notes to the financlal statements Icontinued) For the year ended 5 April 2021 Accounting policies Icontinued) Reallsed and unrealised gains and losses All 83in5 and losses are taken to the Statement of Financial Activitie5 as they arise. Realised gains and losses on investments are calculated as the dwfference between sales proceeds and their opening carrying value or their purchase value if acquired after the first day of the financ131 year. Unrealised gains and losses are calculated as the difference between the fairvalue at the year-end and their carrying value. Realised an(1 unreali5ed investment gains and losses are combined in the Statement of Financial Activities. Resources expended No remuneration or expenses were paid to the Trustees in the year. The Trust has no directly employed staff. Cost5 of generation income compromise those costs directly attributable to managing the investment portfolio and raisTrng investment income. i.io Taxation The Trust is a registered charity and is not liable to United Kingdorn income tax or corporation tax on charitable attivities. i.ii Fund accountlng Unrestricted funds are spent or applied at the discretion of the Trustees to further the TIu5t's purpose. A receipt from the Earl of Dysart Will Trust Charitable fund has been included as a permanent endowment fund and the income arising is classed as unrestrirteil. Expenditure Direct costs Support ¢osts 2021 Total 2020 Total Noles Raising funds 9,400 8,884 Charitable activities= Donations Accountanty and administration 21,350 21,350 1,954 19,950 2,920 1.954 Total charitable activities 21.350 1,954 23.304 22,870 Total expenditure 30.750 1,954 32,704 31.754 Page 11

Tollemache (Bu¢kniinsterl CharitableTrust Notes to the financial statemenls Icontinuedl For the year ended 5 April 2021 Investments 2021 2020 Quoted investments Cash held as part of portfolio 1,203,011 6,720 983,215 4.070 Total Investments 1,209,731 987,28S Quoted investments: Market value 6 April 2020 Addition5 at C05t Disposals at opening book value Net unrealised investment gains 983,215 862,718 21,800 19.141) 228,937 98,697 Market value 5 Awil 2021 1,203,011 983,215 Historical cost a5 at 5 Aprll 2021 875,377 884,518 Investment at market value comprised= Oversea5 unit trust 1,203,011 983,215 Toial 1,203,011 983,215 All investmonts are held for charitable purposes and are listed on a recogni5ed Stock Exchange in the UK. The Aberdeen Standard Capital (Offshore) Income Fund Z Inc investment 15 considered material to the Trust. The Trust holds 1,756,733 units in the fund with a rrarket value of £1,203,011 and a historic book cost of £875,377. Creditors: amounts falling due with one year 2021 2020 Accruals Trade creditors 3.880 1,440 5.320 3,492 3.492 Page 12

Tollemache IBuckmlnrter} Charilable Trust Notes to the financial statements Icontlnuedl For the year ended 5 April 2021 Charitable donations 2021 2020 Charitable donation5 to institutions: Alzheimers Society Army Benevolent Fund Bassingthorpe PCC Brain Tumour Charity Buckminster & Sewstem PCC Buckminster Church -Buckminster Cricket Club Buekminster Gliding Club CALM 250 250 loo loo 500 50 250 8.000 11.900 I,OCK) 50 50 50 500 250 1,000 loo loo 50 1,000 250 500 Cancer Research Clean Up UK Coldstream Guards Association Combat Stress Coston PCC 250 I,LK)O loo loo 500 2,000 250 500 Derby. Leicester & Rutland Air Ambulante Friends of Urambo & Mwahnala Grantham PCC Churchwardens The Grocers Companv Honington PCC Humanitarian Aid Relief Trust King Edward Vll's Hospital for Officers Medecin5 5an5 Frontiers Medical Detection Dogs MIND Noith East Red Squirrels NSPCC 50 loo 50 500 250 loo loo 250 250 500 500 250 250 250 osteoporosis Charity Oxfam Parkinson's Disease Society Royal Star & Garter Home Sewstern Horticultural Society Sight Savers South Witham PCC I,(K)O I,(K)O 250 50 200 250 500 500 1,000 250 50 50 250 50 Sproxton PCC SSAFA (Foston Stroke Association Thromb05is UK 500 50 100 loo 250 250 250 Tolal charitable donations 21,350 19,950 Page 13

Tollema¢he16u¢kmlnster) Charitable Trust Notes to the financial statements l¢ontinued) For the year ended 5 April 2021 Related party transactions During the currenr and previous years there were no transactions with any parties related to the charitable trust. Capitsl and Reserves Unrestrirted fund Permanent endowment fund Total funds Current year At 5 April 2020 Income Expenditure Other gain5 and losses ProfitllLossl on disposal 1,009322 28,154 132.5671 225.603 2,522 12.749 1,022,071 28,154 132,704 228,937 2,522 11371 3,334 At 5April 2021 1,233,034 15.946 1,248,980 Represented by: Investments Ner current assets 1,187,065 45.969 15.946 1,203,011 45,969 1,233,034 15,946 1,248,980 Vnresirlaed lund Pemianent endowment fund Total funds Comparative year At S ApTiI 2019 910,308 11,574 921,882 Income Expenditure Other 8ains and1055e5 33,246 131.6381 97,406 33.246 131,7541 98.697 11161 1,291 At 5 April Z020 1,009,322 12,749 1,022,071 Represented by: Investments Net current assets 970.466 38.856 12,749 983,215 38,856 1,009,322 12,749 1,022,071 Pa8e 14

Tollemache (Buckminster) Charitable Trust Notes to the financial statements Icontlnued) For the year ended 5 April 2021 Prlor year SOFA Unrestricted fund 2020 Permanent endowment 2020 Total 2020 Total 2019 Income from Investments Interest 33.161 85 33,161 85 32,428 106 Total income 33.246 33.246 32,534 Expenditure on Raising funds 8.768 116 8,884 8,335 Charitable activwties 22.870 22.870 22.040 Yotal expenditure 31,638 116 31,754 30,375 Net income before investment movement 1.608 11161 1,492 2,159 NÈt Ilossesllgains on investtnents 97.406 1.291 98.697 1,107 Net lexpenditurellincome 99.014 1.175 ICH),189 3,266 Net movement in funds 99,014 1.175 100,189 3,266 Total fund5 brought forward 910.308 11,574 921,882 918,616 Total funds carried forward i.(W)9.322 12.749 1.022.071 921.882 Page 15