ILIFFE FAMILY CHARITABLE TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022
ILIFFE FAMILY CHARITABLE TRUST INDEX Report of the Trustees Independeni Examiner's Report Stalemenl of Financial Aclivilies Balance Sheet Notes to ihe Accounts
RF.PORT OF THE TRUSTEES OF THE ILIFFE FAlILl, CHARITABLE TRUST FOR THE YEAR F_NDF.D S APRIL 2022 I. REGULATIOIN The Trust is goi'erned b). a Declarntion of Trust dated 10 Februars. 1977. The Charit!. register number 15 273437. The ini'eslments are held in accordance ivith the pom'ers set out in the Tru51 Deed. 2. TRUSTEES, BANKERS AND ADVISERS The Trustees ihroughout the year ii"ere= Lord Iliffe Ladi. Iliffe The Hon. E R Iliff¢ C E FIcTning The addrcss of ihe Charity. is Barn Close Yattendon Berkshire RG180UX The appointment of neil. trustees is at the dis¢relion of Ihe current truslees. Bankers of the Trust ivere L,lo)'ds Bank PIC 25 Gresham Street LONDON EC2V 7HN Investment Adi'isers ofihe Trust throughout the N'ear ii.ere Ei'el}'n Partners Invcstment Services Limited 45 Gresham Sireel LONDON EC2V 7BG Independent F.xaminer of Ihe Trusl is Fiona Ilaii'kins James Coivper Kreslon 2 Conimunications Road Gieenham Business Park Greenhani Ncii"burY RG196AB
RF.PORT OF THE TRUSTEES OF THE ILIFFE FAlILl, CHARITABLE TRIIST FOR THE YEAR ENDED 5 APRIL 2022 STRUCTURE, GOVERNANCE AND MANAGEMEIYT There 15 no fonnal iyritten poli¢). for the recruitment, induction and training of neiv Iruslees. 4. CHARITABLE 0ECTIVEs AND ACTIVITIES The Charity il'as sel up by Declaration of Trust dated IO, Febrnary 1977 '1th the objcct of making distributions for the benefit of charitable purposes in the United Kingdom or 8n)' other part of the is"orld. n ¢arr%'ing out Iheir duties Ihe Irusiee5 have due regard to the guidance published b), the Charities Commission on public benefit. In practice the rnajority of distributions are made lo UK registered charities. To reduce losts the Trustees regret ihat they do not alm'ays repl). to unsuccessful applicants tor grants. 5. REPORT ON THE ACCOUNTS FOR THE YEAR Income for the s'ear amounted lo £27,811 (2021 £28.083) ii'iih distributions of £134.000 {2021 £89.000} lo & number of charilies as detailed in nole 5 to the acLounts. Ini'estments inLreased in i'alue b}. £30.153 (2021 increased b). £487,598}. A5 at the )'car end the Trustees had planned donaiions amouniing io £108,000 (2021 £124,500) ii'hiLh thei. intcnd io make after 5 April 2022. 6. RF.SERVES The Trustees have a polic)- to distribute all the income arising each year subject to funding applications received. -fhere are no specitic reserves set aside for coniingencies as ihc lolal funds far outm'eigh an!. conlingcncy that could arise. 7. RI.SKS The major risks to ii.hich the trust 15 exposed have been revieii'ed and s)'slems are in place to mitigate these risks.
REPORT OF THE TRUSTEES OF THE ILIFFE FAIIIILI, CHARITABLE TRUST FOR THE YEAR EN'DED 5 APRIL 2022 8. INVESTMENT POLICY The Iruslees hal'e all p)ii'ers of ini¥'estmenl, management, sale, exchange and all other poii.ers of an absolute beneficial om'ner of ihe Trust Fund. TTUSI mone). ma). be invesled in ihe purchase of securities. other investments or property in any part of the ii"orld. 9. STATEMENT OF TRUSTEES, RESPONSIBILITIES Laii. applicable lo charities in England and 11 ales requires the Irustees lo prepare rinatkcial statemenls for each financial )'ear ii.hich give a true and fair vieii" of the Charit) s financial activities during the )'ear and of its financial position at the end of the )'ear (unless Ihe Lharity. is ¢ntiiled to prepare acLounts on the alternalive receipts and pa)'ments basis). In preparing financial 5talemcnls gii'ing a Irue and fair i'ieiv, the Iru51ees should folloii. besl practi¢e and= selcct suitable accounting policies and then appli. them con5iStentl)" make judgements and estimates that are rcasonable and prudent; state Is'hether applicable Accounting Standards and Stalements of Recommended Practice hai'e becn folloiicd. subject to any departures discloscd and explained in the finanLial slatements. and d) prepare the financial statements on the going conccrn basis unless il is inappropriate to assume thai the charity i4.ill conlinue in business. b) The trustees are responsible for keeping proper accounting records ii'hich disclose, ii.ith reasonable accurac)., the financial rM)sition of the charity., and ivliich enable Ihem to both ascertain the financial p051tion olthe charily and ensure thal the rinancial 5tatctnents compl). ii'iih regulations. The!. are also reswnsible for safeguarding Ihe assets of the charit%. and hence for taking rca50nable steps for the prevcntion and detection ol fraud and oiher irregularities. Signed: Date: LORD
INDEPENDENT EXAlkllNER'S REPORT FOR THE YF.AR ENDED 5 APRIL 2022 Independent Examiner's Report to the Trustees of Iliffe Famil). Charitable Trust (the 'charitv') I report to the charity Trustees on m}, examination of the accounts of the charity for the year ended 5 April 2022. This report is made solel), to Ihe charilv's Trustees, as a body, in accordance with Part 4 of the Charilies (Accounts and Reports) Regulalions 2008. My work has been undertaken so Ihat I might state to the charity s Trustees ihose matlers l am required to state to them in an Independent Examiner's Report and for no other purpose. To Ihe fullest extent pemiitted b!. law, I do not acccpt or assume responsibilit). to ani-one other than Ihe charil), and the charity's Trustees as a bod)., for m). Ivork or for this report. Responsibilities and Basis of Report As the Trustees of the charit}, )'ou are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('Ihe 2011 Acl,). I report in respect of my examination of the charity's ac¢ounls carried out under seclion 145 of the 201 l Act and in ca.]ng oul nii, examination I hai-e folloii'ed all Ihe applicable Directions gii'en by the Charit). Commission under seclion 145(5)(b) of the 2011 Act. Independent Examiner's Statement I have completed m), examination. I can confirni thal no matiers have come to niy attention in connection ii'ith the examination giving me cause to believe thai in an), material respect-. accounling records ii'ere not kepl in respect ol Ihe charity as requircd by section 130 of the 2011 Ac(= or the accoiints do not accord ii'ith ihose records- or the accounis do not coniply iviih the applicable requirements concerning the forni and content of accounts set out in thc Charitie5 (Accounts aiid Reports) Regulations 2008 other than any requirement that ihe accounts gii'e a 'twe and fairf i'ieiv ii,hich is not a matter considered as part of an independenl examinalion.
I hai'e no concern5 and hai'e come across no oiher maiters in connection '1th ihe examination to iihich allenlion should be dra in ihis report in order io enable a proper understanding of the accounts to be reachcd. Signed.. Dated: 2811112022 F Hawkins FCA James Coivper Kreslon 2 Communications Road Greenham Business Park Greenham Neii'bury RG19 6AB
ILIFFF. FAIIIILY CHARITABLE TRUST STATEMF.NT OF FINANCIAL ACTIVITIES FOR THE I'EAR ENDED S APIUL 2022 Note 2022 2021 INCOME FROM: Inl'estmcni Incunie Difv'idends Interest on Fixed Income Sto¢k 26,604 1,207 26,743 1,325 Bank interest 15 TOTAL INCOME 27.811 28,083 EXPENDITURE ON: Charitable Activities Donaiions Independent Examiner's Fee 134,000 1,416 135,416 89.000 1,345 90,345 Raising funds Investn)ent advice fee 8,147 8,147 4.721 4,721 TOTAL EXPENDITURE 143,563 95,066 Realised gain on disposal of shares Increase in Tr'alue of inveslments 18,062 12,091 158,004 329,594 NET GAINS ON INVF.STMENTS: 30,153 487,598 NET (EXPENSE)/INCOME (85,599} 420,615 In both 2022 and 2021, of the lotal income and expendilure, all i%'as lo unrestricted funds. Total funds broiighi fonvard Nel niovcnient iii fLinds Total tiinds carried foN"ard 1,905,133 (8i,i99) 1,819.534 1.484,518 420,615 1,905,133
ILIFFE FAhllLI' CHARITABLE TRUST B..ILANI CE SHELT AT 5 APRIL2022 Note 21122 Tolal 2021 Total TAf*GJBLE FIXED ASSETS Ini'esth)ents 1,774,060 ,723,121 CURRENT ASSETS Cash at bank and in hand Prepa}'ments and Accrued Income 48,818 72 184,184 106 184,290 48,8 CURRENT LIABILITIES Aecruals (3,4161 (2,2781 I ET CIIRRENT ASSETS 45.474 182,012 NET ASSETS .819.534 1,905.133 THE FilINDS OF THE CHARITY Unrestricted fiinds 1.819.534 1,905,133 TOTAL FIIP4DS OFTHE CElklRITI- 1.819,i34 1.905,133 Signed: Date- Lord Iliffe Trustee The IIOD. E R Iliffe Trustee
ILIFFE FAfvIILY CHARITABLE TRUST NOTES TO THF. ACCOUNTS FOR TIIE YEAR ENDED 5 APRIL 2022 I. ACCOUNTING POLICIES The financial statemenls have been prepared under the historical cost coni'ention 'itli items recognised at cost or transaction value unless othen4'ise stated in the releN'ant notes to Ihese accounts. The financial statements have been prepared in a¢¢ordance ii'iih the Statement of Recommended Practice (SORP): ALcounting and Reporting by Charities preparing their accounls in accordance w'ith the Financial Reporting Siandard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Financial Reporting Standard applicablc in the United Kingdom and Rcpublic of Ireland (FRS 102), the Charilies Act 2011 and the Trust Deed. The trust constitutes a public benefit entity, as defined bs. FRS 102. Investment income is accounted for on amoun15 receivable during the year. Expendilure is proi'ided on an accruals basis. Irrecoverable VAT is charged lo Ihe Statement of Financial Activities as incurred. Investments are stated at markel value and boih realised and unrealised gain5 are rctlected in the Statement of Financial Aclii'ities. Cash ai bank and in hand includes cash and short tenn highl), liquid invesimenls 'iih a short niaiuril!. of 3 months or less from Ihe date of acquisition or opeiiiiig of the dcposit or similar accounl. The Trustees hai'e assessed ivheiher the use of going eoncern is appropriale in respect of a period al least une I'car Irom the date of authorisation for issue of the financial statements and hai'c concluded that the Twst has adequate resources lo continlie in operdtional existence for the foreseeable fulure and there are no material uncertainties about the Irust"s abilit). to continue as a goina concern, thus tliey continue to adopt Ihe going concem basis of accounting in preparing the financial statemenls. CHARITY AND OBJECTS The Charit), li.as set up b!- Declaration ol. Trust daied l O, February 1977 11.ith the objcct of niaking distributions for the benefil of chariiable purposcs in the United Kingdom or an), other p,2rt of Ihe ii'orld. RESERVES POLICY The Trustees have a polic). to distribute all the income arising each l'ear subject lo funding applications receii'ed. There are no specifiL rcscTh"cs set aside for Contingencies as the lotal funds far ouiii'eigh any conlingenc)- Ihal could arise.
ILIFFE FAlILl, CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED i APRIL 2022 THE TRUSTEES AS AT 5 APRIL 2022 WERE: Lord Iliffe Lady Iliffe The Hon E.R. Iliffe C E Fleming None of the Iruslees received remuneration or expense5 in the ycar to 5 April 2022 (2021: £nil). 5. DISTRIBUTIONS MADE BY THE TRUSTEES IN THE YEAR WERE: CHARITI, AMOUNT F.du¢ation Mar). Hare Foundalion RNI.I i 0,000 i 0,000 20,000 Mellical Cj'stic Fibrosis Trnsl HampshirL & Isle of Il'ight Air Ambulance Prior's Loiirt Foiindation Prostale Cancer Research Sail 4 Cancer 5.000 1,000 2,500 5,000 2,500 3,000 1,000 1,000 21.000 sii.ings &. Smiles Thames Valley Air Ambulance Herita Coventry, Cathedral Marn. Rose Trust The M atem)ill Theatre 5,000 i 0,000 3,000 18,000 Reli Ashaiiipstead Parochial Church Council Missions to Sealarers Yatlendon and Frilsham Parochial Church Council 2,500 1,000 4.000 7,500 ConserYAtion Game &. ildlife Conservation Trust Naiurc's SAFE Rare Breeds Survival Triist Red Sqiiirrel Siirvii'al Trust 10,000 i,000 i,000 2.iOO 22,iOO
ILIFFE FAI¥IILI' CHARITABLE TRUST N()TF.S TO THF. ACCOUNTS FOR THE YF.AR F.NDED 5 APRIL 2022 5. DISTRIBUTIONS MADE BY THE TRUSTEES IN THE YEAR (COLYTINUED) Welfare Abbe}'field Societi, ABF The Soldiers Chariti, Berkshire CommunilN' Foundation Berkshire Youth -Irust Countri. Food Trust Farni Africa IC Philanthropy Lord Leycester Hospital Yattendon and Frilsham Sports & Social Trust 2,000 1,000 i 0,000 5,000 15,000 1,000 5,1)00 5,000 ,000 45,000 TOTAL 134,000 6. INVESTMENTS The movemcnls in investments are as folloivs= Summarv 2022 2021 Mttrkct [uc blf Additions Disposals proceeds Cash moi'emenl Nel investnieni gainsl{losses) Market value clf .723,121 1,476.651 63.023 240.392 (95,604) (516,879) 53,367 35,359 30,153 487,598 ,774,060 1,723,121 In¢omt i 'ear to S April 2022 The total is made up as folloi%'s: Fixed Interest 48,000 828 UK Treasuri. IL Stocks 379 UK Inveslmenbvnil Trusts & Aliernalive Funds UK Shares 399.944 380.318 9,932 9,772 780.?6? 828,262 Other Securilie5 Outside thc UK 846.368 6,900 Total Securities 1.674.630 27,811 Cash 99,430 1,774,060 27.811 io
ILIFFE FAI¥IILY CHARITABLE TRUST NOTF.S TO THE ACCOUNTS FOR THF. YEAR ENDED i APRIL 2022 6. INVESTMF.NTS (continued) The Twstees consider thc lolloii.ing inl'eslments to be material to ihe market i'alue of Ihe portfolio ai 5 April 2022= mark-et value Hernies US Mid Equit}, Findla). Park Fiinds PIC SVS North American B Inc Edgeiiood L Seleci US Select Groii1h SVS BambuBlack Asia Fundsmiih LLP Sanlam Investmeni Fund5 Al Fund Z XTrackers Gold Link Fund Solutions Ltd SDCL Energs. Etficiency Investment Trust Blackrock European Ds'namic Fund Polar Capital Funds Blackrock Smaller Companies 105.779 101.723 98,760 95,229 87.289 80,861 79,606 76,560 75.484 68,225 62.820 62,177 50.220 1,044,733 7. ANALI'SIS OF FUND ASSETS AND LIABILITIF.S: As at 5 April 2022 Unrestricted funds Total Fixed asset invesimenls CLirrenl asseis Clirrenl liabilities 1.774.060 48.890 (3.416) 1,819.i34 1.774,060 48,890 3.416 1,819,534 As at S April 2021 Unre51ricted funds Total Fixed asset inieslments Ciirren( asseis Current liabililics ,723.121 184.290 1,723.121 184.290 2,278 1.905.133 1,905,133
ILIFFE FAMILY CIIARITABLE TRUST NOTES TO TIIE ACCOUNTS FOR THE YEAR ENDED i APRIL 2022 8. SulmARy OF FUND MOVEMENTS Fund Name Fund Balances brought fonvard 1,905.133 1.905.133 Income Eipenditure Gains and Fund Balances Losses Carried foni'ard Unrestricted Funds Total Funds 27.811 27,811 143,563 143,563 30,153 30,153 1,819,534 1,819,534 In both 2022 and 2021, all income, expenditure and gains and losses iNere to unreslricted funds. 12