Charity number: 271993 GERALD BENTALL CHARITABLE TRUST UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
GERALD BENTALL CHARITABLE TRUST CONTENTS Page Reference and Administrative Details of the Charity. its Trustees and Advisers Trustees. Report Independent Examlner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 7-15
GERALD BENTALL CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED S APRIL 2024 Trustees A J D Anstee, Chairman E C Anstee C L Thorp C E Jackson Charity registered number 271993 Principal office 24 Slroudes Close Wor¢esler Park Surrey KT4 7RB Independent examiner lan Saunderson FCA BKL Audit LLP 35 Ballards Lane London N3 1XW Bankers Metrobank One Soulhamplon Row London WC18 SHA Solicitors Withers 16 Old Bailey London EC4M 7EG Investment Manager Chades Stanley & Co. Limited 55 Bishopsgale London EC2N 3AS Page 1
GERALD BENTALL CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED S APRIL 2024 The Trustees present their annual report together with the financial statements of the charity for the 6 April 2023 lo S April 2024. Objectives and activities a. Polieies and objectives The objectives of the charity a per ils governing document are.. The Trustees shall hold the trust fund and the income thereof in trust lo apply the same both as to capital and income for the charitable purposes of such charitable bodies organisalion and institutions or such other charitable purposes or objects in such proportions and manners as the Trustees shall in their absolute discretion from time to time think fil. 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 8 charity IPB21'. b. Activities undertaken to achieve objectives During the year the charity made 10812023 - 1091 grants totalling £56,00012023 £56,SOOI to a range of UK charities. The Trustees have made grants supporting, Educational, Environment81, Health, Religious and Social Welfare organisations. Donations ranged from £500 10 £1,50012023 - £250 to £1,500), with the most frequent amount of grant awarded being £500 12023 - £5001. c. Main activities undertaken to further the charity's purposes for the public benefit The charity undertakes lo give gmnls to worthy eharilies in order to further the charity's purposes for public benefit. Achievements and performance a. Main achievements of the charity During the year, the charity donated £56,00012023.' £56,500) lo other charities as decided by the Trustees. Financial review a. Going concem After making appropriate enquiries, the Trustees have a reasonable expec18tion that the charity has adequate resources to eontinue in operational existence for the foreseeable futu. For this reason, they continue lo adopt the going eoncern basis in preparing thè financial stalemenls. Further details regarding the adoption of the going COnM basis Can be found in the accounting policies. b. ReseNes policy The Trustees have a reserves Fiolicy whereby e8sh is kept at a level which will enable three months of operational costs to be met. Reserves in the form of investments are to be kept to a level which will allow the charity to genefftte income for the grant making program, whilst preserving sufficient Capital to enable grant making in futu periods. c. Financial perfomiance Investments generated income during the year of £81,613 12023 £72,105). Expenditure for the year was £85,522 12023." £79,503) consisting of £12,518 12023". £12,873> of expenditure on raising funds and £73,044 12023". £66,630) on ch8ri18ble activities. The gain on valuatIon for the year was £14,49512023 - 8 loss of £141,691). Page 2
GERALD BENTALL CHARITABLE TRUST TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED S APRIL 2024 Structure, govemance and management Constitution The charity was fomed under an irrevoeable trust for charitable purposes on 31 May 1974. b. Methods of appointment or election of Trustees New Trustees are appointed by selction by the current Trustees of the charity by 8 simple majority vote. New Trustees are selected to add their expertise or knowledge to the board of Trustees. c. Oryanisational structure and decision-making policies The Trust is a registered charity, number 271993, and is constituted under 8 trust deed dated 31 May 1974. The trust is managed entirely by the Trustees, there being no employees. Decisions are taken by a majority of Trustees including the power of appointment of new Trustees. statement of Trustees. responsibilities The Trustees are responsible for preparing the Trustees, Report and the financi81 statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally AcpIed 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 slate of affairs of the charity and of ils 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 IFRS 1021", make judgments and accounting estimates that are reasonable and prudent", stale whether applicable UK Accounting Standards IFRS 1021 have been followed, subject lo any material departures disclosed and explained in the financial stalemenls., 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 al any lime the financial position of the charity and enable them lo ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hen 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 and signed on their behalf by.. A4tho4y 44st8e A J D Anstee Chairman Dale". 2910112025 Page 3
GERALD BENTALL CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2024 Independent Examiner's Report to the Trustees of Gerald Bentall Charitable Trust Ilhe charity'l I report to the charity Trustees on my examination of the accounts of the charity for the year ended 5 April 2024. 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 I'lhe 2011 ACVI. I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent Examiner's Statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect". accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act", or the accounts do not accord with those records., or the accounts do not comply with the applicable requirements conmIng the form and content of accounts set out in the Charities (Accounts and Reports) Regu18tions 2008 other than any requirement that the accounts give a 'true and f81¢ view which is not a matter considered as p8rt of an independent examination. I have no concerns and have come across no other mallers 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. My work has been undertaken so that I might stale lo the charity's Trustees those mallers l am required lo slate to them in an Independent Examiner's Report and for no other purpose. To the fullest exlenl permitted by law, I do not a¢p1 or assume responsibility lo anyone other than the charity and the charity's Trustees as a body, for my work or for this report. Signed.. Dated.. 2910112025 lan Saunderson FCA BKL Audit LLP 35 Ballardss Lane London N3 1XW Page 4
GERALD BENTALL CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024 Unrestricted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Investments 61.613 61.613 72,105 Totsl Income 61,613 61,613 72,105 Expendlture on: Raising funds Charitable activities 12,518 73.004 12,518 73.004 12,873 66,630 Total expendlture 85,522 85,522 79,503 Net expenditure before net gainsl{losses) on investments Nel gainslllossesl on investments 123.9091 14,495 123.9091 14,495 (7,398) (141,691) Net movement in funds 19,4141 19,4141 (149.089) Reconciliation of funds.. Total funds brought forward Nel movement in funds 1.824.392 19.4141 1.824.392 19.4141 7,973,481 (149,089) Total funds carried forward 1,814,978 1,814,978 7,824,392 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 7 10 15 form part of these financial slalemenls. Page 5
GERALD BENTALL CHARITABLE TRUST BALANCE SHEET AS AT 5 APRIL 2024 2024 2023 Note Flxed assets Investments 1,780.951 1,780,029 1.780,951 1, 780,029 Current assets Debtors 10 340 Cash al bank and in hand 36.927 49,843 37,267 50,183 Creditors.. amounts falling due within one year 13,240) (5,820) Net current assets 34,027 44,363 Total assets less current Ilabllltles 1,814,978 1,824,392 Total net assets 1,814,978 1,824,392 Charity funds Unrestricted funds 12 1,814,978 1,824,392 Total funds 1,814,978 7.824,392 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. A J D Anstee Chairman Dale.. 2910112025 The notes on pages 7 10 15 form part of these financial slatemenls. Page 6
GERALD BENTALL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Accounting policies 1.1 Basis of preparation of financial ststements The financial statements have been prepared in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued in October 2019 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and Charities Act 2011. Gerald Benlall Charitable Trust conslitules a public benefit entity as defined by FRS 102. 1.2 Going concern The charity has minimal fixed costs, with the main source of expenditure being grants made to institutions, which can be made at the discretion of the Trustees. Furthermore, the Charity had significant nel assets at the year end. including a healthy cash balance. The Trustees therefore consider that based on the circumstances existing al the dale of signature of the accounts, the operations of the charity are not likely lo be affected in a material manner by the current Coronavirus outbreak. The accounts have therefore been prepared on a going concern basis. 1.3 Income All income is recognised On the charity has entitlement to the income, il is probable that the income will be received and the amount of income receivable can be measured reliably. 1.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, 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 on raising funds includes all expenditure incurred by the charity to raise funds for ils charitable purposes and includes costs of all fundraising activities events and non-charitable trading. Expenditure on charitable activities is incurred on direclly undertaking the activities which further the charity's obieclives, as well as any associated support costs. Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Support costs are those costs incurred directly in SUPFX)rt of expenditure on the objects of the charity- 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, bul not accrLJed as expenditure All expenditure is inclusive of irrecoverable VAT. Page 7
GERALD BENTALL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Accounting policies Icontinuedl 1.5 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. 1.6 Investments Fixed asset investments are a form of financial instrument and are initially recognised al their transaction cost and subsequently measured al fair value at the Balance Sheet dale, unless the value cannot be measured reliably in which case it is measured al cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'Gainsl{Lossesl on inveslmenls, in the Slalement of Financial Activities. 1.7 Debtors Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid net of any trade discounts due. 1.8 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 dale of acquisition or opening of the deposit or similar account. 1.9 Liabilities Liabilities are recognised when there is an obligation at the Balan Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in selllemenl, and the amount of the selllement can be eslimaled reliably. Liabilities are recognised al the amount that the charity anlicipales it will pay lo settle the debt or the amount il has reiVed as advanced payments for the goods or services it musl provide. 1.10 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 al their selllemenl value with the exptIOn of bank loans which are subsequently measured al amortised cost using the effective interest method. 1.11 Fund accounting General funds are unreslricled 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. The charity does not have any reslricled funds. Page 8
GERALD BENTALL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Investment income Unrestricted funds 2024 Total funds 2024 Dividend Income Interest Income 61,528 85 61,528 85 61,613 61,613 Unrestricted funds 2023 Tot81 funds 2023 Dividend Income 71,655 450 71.655 450 Interest Income 72,105 72,105 Investment management costs Unrestricted funds 2024 Total funds 2024 Investment management fees Custody fees 12,325 193 12,325 193 12,518 12,518 Page 9
GERALD BENTALL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Investment management costs {continued} Unrestricted funds 2023 Total funds 2023 Investment management fees Custody fees 12,666 207 12,666 207 12,873 12,873 Anatysls of grants Grants to Instltutions 2024 Total funds 2024 Supporting good causes 56,000 56,000 Grants to Institutions 2023 Total funds 2023 Supporting good eauses 56,500 56,500 The charity has made the following material grants to institutions during the year.. 2024 2023 Name of Instltutlon Old Bentallians Association steadfast Sea Cadets Totsl of all grants under £1,000 1.500 1.500 53,000 1,500 1,500 53,500 56,000 56,500 Page 10
GERALD BENTALL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Analysis of charitable expenditure 2024 2023 Educational Environmental Health Religious Social & welfare 2.000 1,500 28,000 2.000 22.500 2,000 1,500 33,000 2.000 18,000 56,000 56,500 Anatysis of expenditure by activities Grant funding of activities 2024 Support costs 2024 Total funds 2024 Supporting good causes 56,000 17,004 73,004 Grant funding ol activities Support costs 2023 Total funds 2023 2023 Supporting good causes 56,500 10, 130 66,630 Page11
GERALD BENTALL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Analysis of expenditure by activities Icontinuedl Analysis of support costs Supporting good causes 2024 Total funds 2024 Secretsrial fees Accountancy fee Independent Examiners fees 13,764 1,620 1,620 13,764 1,620 1.620 17,004 17,004 Supporting good causes 2023 Total funds 2023 Secrelerial fees Accounting fees Independent Examiners fees 4,370 4,200 1,620 4,310 4,200 1,620 10, 130 70,730 Independent Examlnatlon fee The Independent Examiner's remuneration amounts to an Independent Examination fee of £1,62012023- £1,620) and other accountancy fees of £1,62012023 - £4,200). Staff costs There were no employees during the current or prior year. Trustees. remuneratlon and expenses During the year, no Trustees reiVed any remuneration or other benefits {2023- £NIL). Page 12
GERALD BENTALL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Fixed asset investments Listed investments Cost or valuatlon At 6 April 2023 Additions Disposals Revaluations 1,780,029 112,845 {126.4181 14,495 At 5 April 2024 1,780,951 Net book value At 5 April 2024 1,780,951 At 5 April 2023 1, 780.029 Investments at market value comprise: 2024 2023 UK Equity International Equity Propety 1,223.167 481,380 76,404 1,212,573 479,414 88,042 1.780.951 1, 780,029 10. Debtors 2024 2023 Due within one year Amounts owed by HMRC 340 340 Page 13
GERALD BENTALL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 11. Creditors: Amounts falling due within one year 2024 2023 Accruals and deferred income 5,820 12. Statement of funds statement of funds - current year Balance at 6 April 2023 Gainsl Balance at S (Losses) April 2024 Income Expenditure Unrestricted funds General Funds - all funds 1,824,392 61.613 185.5221 14.495 1.814,978 ststement of funds - prior year Balan at 6 Apnl 2022 Gains/ Balan at (Losses) 5 Apnl 2023 Income Expendilure Unrestrlcted funds General Funds - all funds 1,973,481 72,105 (79,503) (141,691) 1,824,392 Page 14
GERALD BENTALL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 13. Analysis of net assets between funds Analysis of net assets between funds - current period Unrestricted funds 2024 Total funds 2024 Fixed asset investments 1,780,951 37,267 13,2401 1.780,951 37,267 13,2401 Current assets Creditors due within one year Total 1,814,978 1.814,978 Anatysls of net assets between funds - prlor perlod Unrestricted funds 2023 Total funds 2023 Fixed asset investments Current assets Creditors due within one year 1, 780,029 50,183 (5,820) 1, 780,029 50,783 {5,820) Total 1,824,392 1,824,392 14. Related party transactions There were no related paty transactions during the current or prior year. Page 15