OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-12-31-accounts

Trustees’ Report and Financial Statements for the Year Ended 31 December 2023 Charity No. 272527

0

Reference and Administrative Information

Trustees

Cllr. Barry Cheyne, Chair of Trustees Tricia Bland Elizabeth Cooper Shweta Kapadia Maggs Latter Brian Nathan Cllr. Karen Randolph Tannia Shipley, Vice-Chair of Trustees Wendy Smithers Cllr. Janet Turner James Vickers

Director

Pete Allen

Project Manager

Sam Thompson

Principal Office

Hersham Technology Park, Office 25 CBS, Second Floor, 41-61 Molesey Rd, Hersham, Walton-on-Thames KT12 4RZ

Treasurer

Dean Blanchard, CPFA, CPA,

Auditor

Lesley Andrews

Bankers

Barclays, Guildford Branch, PO Box 317, Woking, Surrey, GU21 1WT

Investment Managers

Investec Wealth & Investment Limited, 30 Gresham Street, London EC2V 7QN

Website

http://www.rcsherrifftrust.org.uk/

1

Report of the Trustees for the year ending 31 December 2023

The Trustees have pleasure in presenting their report and the financial statements of the Trust for the year ended 31 December 2023 . The financial statements have been prepared in accordance with the accounting policies set out in note 2 to the accounts and comply with the Charities Act 2011, the charity’s trust deed, 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 (FRS 102).

Structure, governance, and management

The Trust is a registered charity, number 272527 and was established following the death of R.C. Sherriff on 13 November 1975.

In accordance with R.C. Sherriff’s will, the freehold property and contents of Rosebriars, Esher Park Avenue, Esher, Surrey were vested in trust to Elmbridge Borough Council by the Executor - Barclays Bank Trust Company Limited with effect from 21 April 1977 (hereafter referred to as the 'Trust'). The freehold property was sold in 1993, and the proceeds invested to generate income to fund the Trust's activities. The trust does not actively fundraise and seeks to develop, promote, and support the arts in the Borough of Elmbridge through the careful stewardship of its existing resources.

The trustees meet at least four times a year to agree on areas of activity for the Trust, including consideration of grant making, policies and performance. The day-today administration of grants, processing, and handling of applications prior to consideration by the trustees is delegated to the Director and the administrator.

The Investment Advisory Committee was established in 2005, to assist the trustees in considering investment, reserves and risk management policies and performance.

In the event that a trustee resigns, new trustees will be sought by open advertisement. A job description and a person specification are prepared and sent to interested applicants. The Chair of the Trust and the Director of the Trust interview shortlisted applicants. The Board of Trustees and Elmbridge Borough Council, however, make the ultimate decision on selection. Trustees serve for between one and four years.

The induction process for any newly appointed trustee comprises an initial meeting with the Director of the Trust. An induction pack is given to all new trustees, which includes a brief history of the Trust, the latest annual report and accounts, a copy of the governing trust deed and guidance on trustees’ responsibilities.

Risk Management

The trustees have considered the major risks to which the charity is exposed and have reviewed those risks and established systems and procedures to manage those risks.

The trustees consider the variability of investment returns on the permanent endowment to constitute the charity’s major financial risk. This risk is mitigated by retaining expert investment managers and having a diversified investment portfolio.

2

The trustees have approved an investment policy to minimise the risk to investment returns.

Objectives and activities for the public benefit

The purpose of the Trust is to develop, promote and support community and professional arts in the Borough of Elmbridge, through:

The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives and in planning future activities and setting the grant making policy for the year.

Grant making policy.

The R C Sherriff Trust supports the arts in Elmbridge, through its grant-giving and its self-initiated projects, for the following purposes:

All grant applications are reviewed against the grant criteria by the Director of the Trust and approved by the Board of Trustees.

Details of how to apply for grants, together with the relevant forms, are available on the charity’s website, http://www.rcsherrifftrust.org.uk/ or by post from the Trust’s office.

3

Achievements and performance

Governance, Networking, Planning and Strategy:

General Management and Marketing

Grants & Arts Initiatives

The Trust continued to award grant funding and support to arts organisations, individuals and community groups enabling them to provide a programme of arts activities targeted at groups across Elmbridge.

Grants are awarded during the year, through a combination of Arts Initiative Projects delivered by partner organisations, Regularly Funded Organisations, Three-year funding and through the four Open Application deadlines to organisations and individuals. The total amount given in Grants and Arts Initiatives amounted to £86,415 (2022 - £76,014).

4

Monitoring Achievement

Each event that is funded through the grant or arts initiative budget is attended either by the Director of the Trust or one of the Trustees. A verbal or written report as to the success of the project is reported back to the next meeting of the Board of Trustees.

Arts Projects 2023 Directly Managed Projects

The Rosebriars Initiative

The Rosebriars Initiative continued its aim of addressing issues of isolation, health and well-being for Elmbridge residents over the age of 60.

The Rosebriars Initiative was fully re-established in 2023 following the Pandemic. The projects included:

Additional monthly workshops were introduced this year to accommodate the growing number of participants.

There continued to be increased participation in the singalongs and film club. New for 2023 was the addition of the “Sherriff Talks”, a programme or arts talks, thematically linked to the monthly film.

The Rosebriars Initiative was solely funded by The Trust in 2023. The Trust’s Director continued to explore external funding for the Initiative.

5

18th Annual Literary Competition

The Competition launched in September 2022 with a closing date of February 2023.

The theme, ‘The Road’ was linked with the 30th anniversary of The R C Sherriff Trust. Much of Sherriff’s writing involved journeys, some literal; the charabanc day trip of his first play, A Hitch In The Proceedings, the family heading off for their annual holiday in his novel, ‘The Fortnight in September’, or the journey home taken by David Preston every night, except one, in ‘Home By Seven’, some metaphorical; Harry Faversham in ‘The Four Feathers’, Johnny McQueen in ‘Odd Man Out’ and the journey undertaken by Stanhope, Raleigh, Trotter and the soldiers in Sherriff’s most famous work ‘Journey’s End’, a journey that leads to a fateful climax in the trenches of the First World War.

Following the success of 2022’s ‘Enigma’, The Competition was again open to national and international submissions. Winning entries came from Elmbridge residents, authors from across the United Kingdom and writers and poets from as far afield as India and the USA.

Elmbridge Prize for the best story or poem submitted by an Elmbridge resident was won by Rosie Norvill for her 1st Place poem, The Road, in the 8-11 Year Old Category. The Loretta

6

Howells Prize for the Elmbridge School that submitted the most winning, highly commended and commended entries went to St Charles Borromeo Catholic Primary School.

The Competition was once again run in partnership with publishers Sampson Low, who published all the winning entries as Chapbooks. (Small and affordable forms of literature, Chapbooks historically were sold on the streets, and covered a range of subjects from fairy tales and ghost stories to news of politics, crime or disaster.)

For further details about Chapbooks visit: - - www.bl.uk/romantics and Victorians/articles/chapbooks

Following the same timetable, the 2024 Competition, Fame, was launched in September.

The Elmbridge School Choir Festival

This was the 6h ESCF, and following its successful return, a number of infant schools took part, so the 2023 Festival was held over 3 nights, with one being specifically for years 1-4 pupils. 18 schools participated:

Cardinal Newman RC Primary School, Oatlands Primary School, Cranmere Primary School, Cleves Primary School, St Charles Borromeo RC Primary School, Claygate Primary School, Cobham Free School, Burhill School, St Albans Primary School, Royal Kent Primary School, St James Primary School, Grovelands Primary School, Thames Ditton Infants, St Matthews School, The Orchard School, Manby Lodge School, St Andrews School, Esher Church School,

Once again, the Festival took place at ACS Cobham. Special guest for the Festival was Ollie Tumner from The Beat Goes On.

7

Sing: The Elmbridge Adult Choir Festival

As part of 30[th] Anniversary of The R C Sherriff Trust we held the first Choir Festival for adult Choirs at St Peter’s Church in Hersham on the 23 & 24 February. The aim was to celebrate adult choirs across the Borough and give them the opportunity to perform to new audiences.

The Choirs involved were:

As one of the Trust’s regularly funded organisations, Promenade Choir, were the special guests on both nights.

Over £1500 was raised through ticket sales that was used to support choirs and music projects throughout the year.

30th Anniversary Celebration

To commemorate the Trust’s 30th Anniversary, a weekend celebration was held at The Vera Fletcher Hall 17 & 18 November. This included a retrospective exhibition of artwork by the Rosebriars Art Group. It was also used as an opportunity to discuss possible projects for the 50th Anniversary of Sherriff’s death in 2025.

8

Proposed Programme 2024

The Trust will continue to act cautiously with regard to directly managed projects in order to ensure that the same level of income is available for the regularly funded organisations and the quarterly grant streams.

Trust Projects for 2024:

Partnership Projects with Elmbridge Borough Council:

Publication and distribution of the hard copy edition of Arts Focus, a free listings magazine produced by the Trust, is still on hold, with the main emphasis on promoting events and organisations through the website and The Trust’s social media.

The question of Office space will also be looked it in the knowledge that Air Products will be vacating the Technology Park by 2025 and that possible development on the site will mean an alternative space is required for the Trust’s office. Therefore, the process of archiving the Trust’s papers and documents will take place so that, the Director and Project Manager can work remotely if required, until new office space is secured.

9

Financial Review

The resources expended during the year, including governance costs, were £182,266 (2022 - £167,657) and income from the charitable activities of the trust amounted to £12,057 (2022 - £6,135).

The Trust is reliant on the income from its investments to fund its general expenditure. The income from dividends and interest payments during 2023 were £134,898 (2022 - £134,651). The Trusts’ main source of income, dividends from the endowment fund, increased by £247 over the previous year.

The net outgoing resources, including investment management costs during the year were £35,311 (2022 - £26,871). Investment management costs during the year were £22,747 (2022 - £23,800), these costs are met from the Endowment Fund and therefore do not affect the General Fund Balance. The net outgoing resources of the General fund in the year was £16,760.

Investment policy and performance

The Trust has an Investment Advisory Committee which updates the investment strategy agreed with the Fund Managers. The Fund Managers are instructed to achieve an income from dividends and interest of an adequate level to sustain the activities of the Trust at current levels, consistent with the requirement for the preservation of capital in real terms. The risk profile of investments has a “medium” exposure to risk. A strategic asset allocation and a bespoke benchmark have been agreed with the Fund Manager. The portfolio is subject to periodic review and effective liaison is maintained with the fund manager on related matters. The market value of investments held by Investec increased in the year from £3,744,087 on the 1 January 2023 to £3,841,530 on the 31 December 2023.

Reserves Policy

The aim of Trustees is to maintain a level of reserves in recognition of the relative fluctuations in the levels and frequency of investment income receipts on the one hand and the variable component of outgoing expenditure on the other. It was determined that it would be prudent to maintain reserves in a readily realisable form at an average level of £50,000. The trustees consider that maintaining a £50,000 general reserve is sufficient. The level of reserves will be reviewed annually.

The Trust also holds a Revenue Reserve which is to be used for any special projects that may arise and cannot be met from within the annual budget. During 2023, the Special Reserve contributed £17,650 towards expenditure on the Rosebriars Art Group. The balance of the Revenue Reserve at the end of the year was £20,160 (2022 - £37,810).

Key Management Personnel Remuneration

The trustees consider the board of trustees and the director as comprising key management personnel of the charity in charge of directing and controlling the charity and

10

running and operating the charity on a day-t(Hlay basis. Trustees are required to disclose all relevant interests when applications for funding a￿ considered and in accordance with the Trust's policy withdraw from decisions where a (x)nfiict of interest arises. Trustees. responsibilities in relatlon to the ftnancial statements The charity trustees a￿ responsible for preparing a trustees, annual report and 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 and Wales requires the trustees to prepare financial statements for each year, which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources. of the charity for that perlod. In preparing the financial ststements the trustees are required to.. select suitsble accounting policies and then apply them consistently. observe the methods and principles in the applicable Charities SORP make judgements and estimates that are reasonable and prudent. state whether applicable accounting standards have been followed. subject to any material departures disclosed and explained in the financial statements; and prepare the financial stat8m8nts on the going concem basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping aCC￿nting records that disdose with reasonable accuracy the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and takn'ng reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charity and financkgl information included on the charity's website. Legislation in the United Kingdom governlng the preparation arKI di&8emination of financial statements may differ from legislation in otherjurisdictions. Approved by tha trustees on and signed on their behalf by: 11

THE R.C. SHERRIFF ROSEBRIARS TRUST

FINANCIAL STATEMENTS FOR THE YEAR TO 31 DECEMBER 2023

REPORT OF THE INDEPENDENT EXAMINER

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Act) and that an independent examination is required.

As the examiner it is my responsibility to:

My examination was carried out in accordance with the general directions given by the Charity Commission. This includes a review of the accounting records kept by the charity 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 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”; the report is limited to those matters set out in the statement below.

In connection with my examination, no matter has come to my attention

  1. Which gives me reasonable cause to believe that in any material respect the requirements to

  2. Keep accounting records in accordance with section 130 of the Act and

  3. Prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act

Have not been met, and

  1. To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Lesley Andrews

Lesley Andrews

6 Bakers Gardens

SM5 2SF

23[rd] August 2024

12

THE R.C. SHERRIFF TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

Notes
Income and endowments
3
Project Income
Donations & legacies
Other Income
Investment income
Total Income
Expenditure
Cost of Raising Funds
Investment Management Costs
4
Expenditure on Charitable activities
Arts funding:
Grants
5 & 6
Arts focus
7
Arts Initiatives
8
Total Resources Expended
Governance Costs
10
Total Resources Expended
Net incoming/(outgoing) resources before transfers
Transfers between funds:
Revenue Reserve
Net incoming/(outgoing) resources for the year
Other Recognised Losses and Gains
Unrealised gain on Tangible Fixed Assets
12
Realised losses(-)/gains on investments
Unrealised losses(-)/gains on investments
13
Net Movement in Funds
Fund balances brought forward at 1 January
Fund balances carried forward 31 December		 General
Endowment
Total
Fund
Fund
2023
£
£
£
4,437
0
4,437
2,029
0
2,029
5,591
0
5,591
130,702
4,196
134,898
142,759
4,196
146,955
0
22,747
22,747
70,825
0
70,825
0
0
0
73,045
0
73,045
143,870
22,747
166,617
15,649
0
15,649
159,519
22,747
182,266
(16,760)
(18,551)
(35,311)
0
0
0
(16,760)
(18,551)
(35,311)
0
0
0
23,331
23,331
0
51,788
51,788
(16,760)
56,568
39,808
348,824
3,672,836
4,021,660		 Total
2022
£
729
1,038
4,368
134,651
140,786
23,800
68,702
0
60,234
152,736
14,921
167,657
(26,871)
0
(26,871)
0
(36,038)
(282,386)
(345,295)
4,366,955
332,064
3,729,404
4,061,468		 4,021,660

13

THE R.C.SHERRIFF ROSEBRIARS TRUST

BALANCE SHEET AS AT 31 DECEMBER 2023

----- Start of picture text -----
Notes 2023 2023 2022
£ £ £
FIXED ASSETS
Tangible fixed assets 12 37,230 37,230
Investments at market value 13 3,841,530 3,744,087
3,878,760 3,781,317
CURRENT ASSETS
Debtors 14 0 0
Short term deposits 15 10,992
Cash at bank and in hand 16 175,564
186,556 243,779
186,556 243,779
CURRENT LIABILITIES 17 3,848 3,436
NET CURRENT ASSETS 182,708 240,343
ACCUMULATED BALANCE OF THE FUND 4,061,468 4,021,660
Signed on behalf of the Trustees
Dean Blanchard CPFA, CPA
Treasurer to the R.C. Sherriff Trust
----- End of picture text -----

14

THE R.C. SHERRIFF TRUST

CASHFLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023

Notes 2023 2022
£ £
Net cash inflow/outflow(-) from operating activities A (34,899) (25,986)
Investing activities
Purchase of investments 13 (1,095,666) (1,067,787)
Investment Fees (22,747) (23,800)
Proceeds from sale of investments 1,050,011 997,236
Net cash outflow(-)/inflow from investing activities (68,402) (94,351)
Decrease(-)/increase in cash and cash equivalents B (57,223) (132,575)
Cash and cash equivalents at 31 December 2022 223,069 223,069
Cash and cash equivalents at 31 December 2023 186,556 243,779
Notes to the Cashflow Statement
A. Reconciliation of changes in resources to net cash inflow from operating activities
2023 2022
£ £
Changes in resources before revaluations (35,311) (26,871)
Depreciation 0 0
(35,311) (26,871)
Decrease (-)/ Increase in creditors; Current liabilities 412 885
Decrease/ Increase (-) in debtors 0 0
Net cash inflow/outflow(-) from operating activities (34,899) (25,986)
B. Analysis of changes in cash and cash equivalents during the year Change in year
2023 2022 (decrease)
£ £ £
Short term deposits:
Investec Wealth dealing account 10,992 56,064 (45,072)
Cash at bank and in hand:
Investec Wealth earnings account 170,059 180,160 (10,101)
Barclays Business account 5,426 6,917 (1,491)
PayPal 79 638 (559)
175,564 187,715 (12,151)
Total cash and cash equivalents 186,556 243,779 (57,223)

15

THE R.C. SHERRIFF TRUST

NOTES TO THE ACCOUNTS for the Year Ended 31 DECEMBER 2023

1. STATUS OF THE TRUST

Taxation

The Trust is exempt from taxation under section 505 of the Income and Corporation Taxes Act 1988.

2. ACCOUNTING POLICIES

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of Preparation

The financial statements 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 United Kingdom and Republic of Ireland (FRS 102) (effective 1 January 2015) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The R.C. Sherriff Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

The Trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern. With respect to the next reporting period, 2023, the most significant areas of uncertainty that affect the carrying value of assets held by the Trust are the level of investment return and the performance of the investment markets.

Endowment Fund and General Fund

The charity has a single permanent endowment, which provides for the Trustees to invest the capital in perpetuity, the income from which is to be used to fund the promotion of the arts in Elmbridge through grants and arts initiatives, and the day-to-day operation of the Trust (The General Fund).

Income Recognition

All income is recognised once the Charity has entitlement to that income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Donations, are recognised when the Trust has been notified in writing of both the amount and settlement date. In the even that a donation is subject to conditions that require a level of performance before the Charity is entitled to the funds, the income is deferred and not recognised until either of those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the Charity and it is probable that those conditions will be fulfilled in the reporting period.

Legacy gifts are recognised on a case by case basis following the granting of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than

16

cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the Charity.

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 bank. 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 investment advisor.

Expenditure Recognition

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. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings. For more information on this attribution refer to the note below.

Grants and Arts Initiatives

Grant payments and contributions to promote arts initiatives are payments made to third parties in the furtherance of the charitable objectives of the Trust. Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the Trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and any condition attaching to the grant is outside of the control of the Trust.

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.

Allocation of Overhead and Support Costs

Overhead and support costs have been allocated first between charitable activity and governance. Overhead and support costs relating to charitable activities have been apportioned based on staff time. The allocation of overhead and support cost is analysed in note 9.

Costs of Raising Funds

The cost of generating funds consists of investment management costs.

Charitable Activities

Costs of charitable activities include grants, arts initiatives, the Arts Focus publication and an apportionment of overhead and support costs as shown in note 9.

Governance Costs

Governance costs comprise all costs involving the public accountability of the Charity and its compliance with regulation and good practice. These are analysed in note 10.

17

Fixed Asset Investments

Investments are a form of basic financial instruments and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year.

The Trust does not acquire put options, derivatives or other complex financial instruments.

The main form of financial risk faced by the Charity is that of volatility in financial markets and investments markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning investments and within particular sectors and subsectors.

Realised Gains and Losses

All gains and losses are included in the Statement of Financial Activities as they arise. 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 market value at the year-end and opening market value (or purchase date if later).

18

THE R.C. SHERRIFF TRUST

NOTES TO THE ACCOUNTS for the year ending 31 December 2023 (continued)

3. INCOMING RESOURCES
Incoming Resources from Charitable Activities
Arts Initiative Income
Rosebriars Art Group - Formerly Elders Project
Schools Choir Festival
SING Choirfest
Literary Competition
Young Musician of the Year
Total Art Initiative Income
Arts Focus		 Investment
Project
Bequests,
Local Authority
Total
Total
Income
Income
Donations &
& Other Funding
2023
2022
Sponsorship
£
£
£
£
£
£
(1,212)
-
(1,212)
(54)
-
(2,083)
(2,083)
-
(1,935)
(1,935)
(1,500)
(890)
(3,489)
(4,379)
(3,341)
-
-
-
-
(4,037)
-
(5,572)
(9,609)
(4,895)
-
-
Radio Microphones (400)
(400)
(200)
4. Bequest / Donations
Banking Loyalty Reward
Dividends and Interest
RESOURCES EXPENDED
Cost of Generating Funds
Total Incoming Resources from Charitable Activities		 (2,029)
(2,029)
(1,038)
(19)
(19)
(2)
(134,898)
(134,898)
(134,651)
(134,898)
(4,437)
(2,029)
(5,591)
(146,955)
(140,786)
2023
2022
£
£
Investment Management Costs 22,747
23,775
5. Charitable Activities
GRANTS PAYABLE 2023
Major Grants to Institutions / Individuals		 Project
RFO
3 Year
Capital
Grants
Funding
Funding
Funding
2023
£
£
£
£
£
Individual Grant -IA
Drama Cube Productions
Elmbridge Community Link
Elmbridge Youth Theatre
Esher Church School
Esher & Ditton Youth Orchestra
Heathside School
Love of Learning		 1,000
1,000
1,000
1,000
-
2,000
2,000
1,500
1,500
1,000
1,000
1,000
1,000
1,250
1,250
2,000
2,000
Mary Francis Trust 1,500
1,500
Momentum Childerens Charity
Princess Alice Hospice/Music in Hospitals
Redz Dance School
Scoot Theatre
Thames Ditton & Weston Green Residents Association
The Cobham Band
Vera Fletcher Hall
Walton Bid Ltd
Walton & Weybridge Amaeur Operatic Society
WOTCAT - Riverhouse Barn
Grants of under £1,000 to institutions and
individuals		 1,085
1,085
2,500
2,500
1,000
1,000
1,360
1,360
1,000
1,000
1,000
1,000
5,000
5,000
1,000
1,000
1,000
1,000
12,000
12,000
12,195
14,000
12,000
1,000
39,195
5,197
1,500
-
1,275
7,972
Total of Grants Awarded in the year 17,392
15,500
12,000
2,275
47,167
Support Costs (see note 9)
Total Cost of Grants awarded in the year		 23,658
17,392
15,500
12,000
2,275
70,825

19

THE R.C. SHERRIFF TRUST NOTES TO THE ACCOUNTS for the year ending 31 December 2023 (continued)

6. Charitable Activities
GRANTS PAYABLE 2022
Major Grants to Institutions / Individuals
Angel Theatre Company
Claygate Choral Society
Individual Grant -SC
Individual Grant -IA
Elmbridge Community Link		 Project
RFO
3 Year
Grants
Funding
Funding
£
£
£
1,012
1,000
1,500
1,500
-
2,000		 Capital
Funding
2021
£
£
1,012
1,000
1,500
-
1,500
2,000
Elmbridge Youth Theatre 1,500 1,500
Esher & Ditton Youth Orchestra
Love of Learning
Painting our World Silver
Princess Alice Hospice/Music in Hospitals
Vera Fletcher Hall		 1,000
2,000
1,500
2,500
5,000		 1,000
2,000
1,500
2,500
5,000
Voices of Hope 1,440 1,440
7.
8.		 WOTCAT - Riverhouse Barn
Total of Grants Awarded in the year
Uncashed cheque from previous year
Support Costs (see note 9)
Total Cost of Grants awarded in the year
Art Focus Publication
Arts Focus
Support Costs (see note 9)
Arts Initiatives
Elmbridge Moving Art
Literary Competition
RCS Anniversary
Radio Microphones
Grants of under £1,000 to institutions and individuals		 12,000 5,781
17,781
7,952
14,000
12,000
6,428
750		 5,781
39,733
-
7,178
14,380
14,750
12,000		 5,781
46,911
-
21,791
14,380
14,750
12,000		 5,781
68,702
2023
2022
£
£
-
-
-
-
-
-
2023
2022
£
£
-
1,000
7,749
6,480
2,734
-
150
150
Rosebriars Art Group 23,862
17,926
Rosebriars OutReach Project
Schools Choirs Festival
SING-Choirfest
Unexpected Arts Project
Uncashed cheque from previous year
Support Costs (see note 9)		 -
373
4,416
2,674
337
-
-
500
39,248
29,103
33,797
31,131
73,045
60,234

20

THE R.C. SHERRIFF TRUST

NOTES TO THE ACCOUNTS for the year ending 31 December 2023 (continued)

9. Allocation of Support Costs and Overheads

The breakdown of support costs and how these were allocated between Governance and Charitable Activities is shown in the table below. All apportionments are based on staff time.

Staff Costs
Office accommodation
Website/Internet /Computer Equip
Telephone
Subsistance / Misc
Office Costs		 Total
Governance
Charitable
Total
Allocated
Activities
2022
£
£
£
£
55,302
8,295
47,007
44,156
7,073
1,061
6,012
5,630
2,615
392
2,223
1,596
811
122
689
502
537
81
456
6
1,256
188
1,068
1,033
67,594
10,139
57,455
52,922

The total support costs attributable to charitable activities is then apportioned based on staff time

Grants
Arts Initiatives
Arts Focus
10.
Analysis of Governance Costs		 2023
2022
£
£
23,658
21,791
33,797
31,131
0
0
57,455
52,922
Total
Total
2023
2022
£
£
Support Costs
Auditor's fees: for audit
Treasurer's Fees
Bank Charges
Insurance
Depreciation (see note 12)
11.
Analysis of Staff Costs
Staff costs (including benefits in kind)
Salaries
Social Security Costs
Staff travelling expenses
Pension Costs		 10,139
9,339
600
600
2,840
2,990
180
143
1,890
1,849
15,649
14,921
0
0
15,649
14,921
2023
2022
£
£
41,690
39,025
11,328
10,846
0
0
2,284
2,077
55,302
51,948

There were no employees earning over £60,000 p.a. (excl. pension contributions) in either 2023 or 2022.

2023 2022 The average number of employees by function was; No. No. Support and Administration 2 2 The Trust has paid no subscriptions for life membership.

One Trustee (Maggs Latter) received a payment in 2023 (£65) for a talk to the Rosebriars Art Group, (2022 £Nil). The Trustees received no expenses in the year (2023 £Nil), (2022 - £Nil).

21

THE R.C. SHERRIFF TRUST

NOTES TO THE ACCOUNTS for the year ending 31 December 2023 (continued)

Paintings Computers Fixtures
and other and other and Total Total
Notes memorabilia equipment fittings 2023 2022
12. TANGIBLE FIXED ASSETS £ £ £ £ £
Cost
At 1 January 1 37,230 0 0 37,230 37,230
Additions 0 0 0 0 0
Disposals 0 0 0 0 0
Revaluations 0 0 0 0 0
At 31 December 37,230 0 0 37,230 37,230
Accumulated depreciation
At 1 January 0 0
Disposals 0 0
Charge for year 0 0
At 31 December 0 0 0 0 0
Net Book values
At 1 January 37,230 0 0 37,230 37,230
At 31 December 37,230 0 0 37,230 37,230
Capital commitments
Authorised but not contracted for £ Nil £ Nil
Notes: 1.
Memorabilia including photographs, manuscripts and correspondence relating to R.C.Sherriff		 and his family
are held by the Trust. No value has been ascribed to these assets as the Trustee does not believe that they
have a significant value, having obtained professional advice to this effect from Sotheby's. They have
therefore not been included in the financial statements.

2. Paintings owned by the Trust were valued by Bonham's in February 2023. Bonhams valued three of the paintings at a combined value of £37,000. these paintings are on display at the Civic Centre Esher.

13.
FIXED ASSET INVESTMENTS
Quoted investments in the United Kingdom
Market value 1 January
Additions
Disposals		 Total
2023
£
3,744,087
1,095,666
-1,050,011		 Total
2022
£
3,955,922
1,067,787
-997,236
Net unrealised investment losses(-)/gains 51,788 -282,386
Market value 31 December
Cost 31 December		 3,841,530
3,387,788		 3,744,087
3,294,944

Within the Fixed Asset Investment is £70,160 of reserves that is not a part of the Endowment Fund.

There are no investments that individually represents 5% or more of the market value of the investments of the Trust at 31 December 2023

14.
DEBTORS
Debtors
Prepayments:		 2023
£
0
0
0
0		 2022
£
0
0
0
0

22

THE R.C. SHERRIFF TRUST

NOTES TO THE ACCOUNTS for the year ending 31 December 2023 (continued)

15
SHORT TERM DEPOSITS
Investec Wealth Dealing Account
Balance in hand brought forward 1 January
Add_transfer from Earning Account
_Add cost price of investment disposals in year
_Add_interest received
_Less_investment management fees paid in year
_Less_cost of investment additions in the year		 2023
£
56,064
0
1,005,035
0
(22,747)
(1,095,666)		 2022
£
186,453
0
691,633
0
(23,800)
(987,787)
(57,314) (133,501)
_Less_net loss(-)/profit realised on disposals in year 68,306 189,565
Balance in hand carried forward 31 December
16
CASH AT BANK AND IN HAND
Investec Wealth Earnings Account
Balance brought forward 1 January
_Add_investment dividends received
_Add_transfers to Dealing Account
_Add_interest received
_Less_commission and expenses paid
_Less_transfers to Barclays Business Account
_Less_transfers to Dealing Account
Balance in hand carried forward 31 December
Barclays Business Account carried forward 31 December
Paypal account carried forward 31 December
Total carried forward 31 December
TOTAL CASH AND CASH EQUIVALENTS(see Cashflow Statement)		 10,992 56,064
2023
£
180,160
130,703
0
4,196		 2022
£
180,509
133,860
0
791
315,059
(145,000)
0		 315,160
(135,000)
0
170,059
5,426
79		 180,160
6,917
638
175,564 187,715
186,556 243,779

23

THE R.C. SHERRIFF TRUST NOTES TO THE ACCOUNTS for the year ending 31 December 2023 (continued)

17.
CREDITORS: Amounts falling due-Within one year
Income received in advance:
Literary Competition 2023
Literary Competition 2024
Accruals:
BT - Telephones/Broadband
P. Allen
Swan Cars
D.Blanchard - Fees
Barclaycard
Fassett - Postages		 2023
£
0
100
100
67
0
0
200
0
0		 2022
£
0
60
60
59
0
1,018
260
267
1
HMRC 948 840
Nest Pensions
Riverhouse Barn
Bank - Charges		 190
81
12
1,498		 173
246
12
2,876
Other accruals:
Grant - Ember Choral Society
Grant - Mary Francis Trust
Grant - DramaCube		 500
750
1,000
2,250
3,848		 500
0
0
500
3,436

24