ILIFFE FAMILY CHARITABLE TRUST UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
ILIFFE FAIIIILI, CHARITABLE TRUST INDEX Report of ihe Trusiees Indcpcndent Exthminer s Report Stalement of Financial Actii'ilies lanLe Sheei Notes lo the Accoiints
REPORT OF THE TRIISTEES OF THE ILIFFE FAI)IILI' CIIARITABLE TRUST FOR THE I'EAR EPDED 4 APRIL 2023 I. R Tr"GIILATIOIN The Trust is gvlii'emed bl. a Declaration of Trust dated 10 Febwar?. 1977. Tl)e Q h£lrili" registcr niimber is 973437. 1.hc inicslmcnts arc held in acLI)rd1i nce ii.ith the poi¥¢rs sel oiil in Ihe Triisi Deed. 2. TRUSTEES, BANKERS AP'D ADI'ISERS The Trustees thr0112hoLlt the )'ear ii"ere= .ord Ilifte Ladi. Ilille The Hon. F. R Iliffe C E Fleniing The address of the Charill. IS B<im Close Yatiendon Berksliire RG180UX The appoinlmeni of neil. Inistees is al Ihe discreiion of the current tn]stees. Bankers ofihe Tnisi iiere Lloi"ds Biiiik PIC 25 Gresham Sireel LONIDON EC2V 7FIN Investnient Adi'isers ofthe Tnist throu(yhoiit the i ear ii.ere Ei'eli n P¢?rtners Ini'esinieni Seri'ices l.imiied 47 GrL'slicllll SirLCt LONDON EC 2V 7BG Independent Examiner of Ihe Tnist is Fioiiil H£111 ki115 Jaiiies Coii'per Kreston 2 CoiiiiiiLinicc?lioiis Rid Greenh<ilii Business Park- Grtenhai)I NTLii bLiri' RG196AB
REPORT OF THE TRIISTEES OF THF. II.IFFF. FA)1 111.1. CIIARITAIILF. TRIIST FOR TFIE I'EAR ENDED S APIIIL 2023 STRUCTURF., GOIFF.RNAf'CE AIND lArAGEI¥IEp'T Tliere is no fomial ii'riiien w)lici' lor the tecruilmeni. induction and trainingy of neil" IrLlStee5. 4. CHARITABLE OIUECTII'ES AfiD ACTII'ITIES The Chi£ riti. li.as Set up b}" Declaration of Trnst dated 10 Februar¥. 1977 11 ith tlie object of maKinLy dislribLilions for the benefit of charitable purposes in the United Kin&doin or an). other part ofthe iiorld. In carrN"iiig oiil their duties the trustees liai'e due re¥>ard lo the &)uidance published b}. the Charities Comiiii5sion on public benefit. In praLIiLe ihe majoril!. of distribLltion5 are made to Uk reLliStered charities. To reduce costs the Triislees re¥>rei ihai Ihe! do noi aliia!"s repli" ic) unsuLcessful applicants for gnnt5. S. REI'ORT OLN TIIE ACCOllINTS FOR THE I'EAR Income for ihe l'ear ilmoiinied 10 £31.844 (20?2 - £27.8111 li itli dislributions of £8) iOO120?? _ £134.000) to a nLiinkr of chariiies as del<liled in note i to tlie CCL)Illlts. Ini'es¢iiienis deire1¢ SLd in I411iiL bi- £ l i6.678 (?0?? illLre1c5ed bi £30.] i31. As 411 tliL I"Lclr cnd thc Triislees h&ld pli£ nnLd doii£1tions ainolintiiiu lo £ l Oi iOO I?0?? £ I OS.000) li l)i¢h ihei. intend io make afier i April 2023. 6. RESERVES Tl)e -l-ILlStees h1¢ I'L a polic!. to distribute all tlic incoiiie <irisinu e£icli )'ear siibject to fLiiidii]11 12pp1iccltions receii'ed. There are no speiific iesen'es scl 47sidc for coiitinL¥encics as the total fiinds far Olltii eioh ani. continaenci. tliilt coiild arise. 7. RISKS The MljOr risks tn ii'hich ihe iriisi is exposed hai'e been rei'ieiied and s)"slems .Ir¢ in pli¢ CC to Iiiitl&V41tc ihcsc risks.
RF.I'ORT OF'fHF- I"RIISTEES OTr- THE ILIFFE FAI)IILI' CHARITABLF. TRUST FOR THF. I'F.AR F.NI l)F.l).i AI'RIL 2023 8. 1Tr41'F.STIl IF.f*T POLICY The Iriislees hai'e all poli ers of ini'esimeni. managcnient. sule. eichange and all other poii"er5 of an ab501ule beneficial oii.ner of the Trust Fund. Trus1 monei" ma). be ini'cstcd in the purchase ol securities, other ini'estments or propert). in an). part of the iiorld. 9. STATEIIIENT OF TRUSTEES. RESPONI'SIBILITIES Laii. 41ppIicic ble to charities in EnL.lund nd M141les reqiiircs the trustees to prepare lin1 llci<il statemenis for each financi.21 l'ear li hich eii'e a true and fair i'ieii of ihe Lhilflt!. s financial tsctii'ities dLiriniT the icar and of its financial position at the end of tlie l'ear (Linless the chic rih. is entitled to prepare acLounis on ihe altemalii'e receipls and P¢l1"nienis basis). In preparinL financial slalciiicnts gjji.ingy tnie (2nd 14lir i'icii, the trLlStees should folloii" best praclice and= select Sliilcible accoiintinu policies and ihen appl!" theiii consistentl!.; ni<ike jLidTremenis and esiimates ihai are re.2s0nable and priidenl: state ii"hether applici£ ble Accoiiiitinu Stilndards aiid Stateiiients of ReLoinmend¢d Pr<1Ctice hai'e been folloiied. siibjecl io an!. depanLires di5cluscd lind ciplllincd in the financial 5tateiiietkts: and d) prepare the financial stalemenis on ihe gFoing concern basis unless it is in<ippropri£ile lo a5suEne that the chariN" ii.ill continue in business. b) 'I"he Ir115tec5 arc rc5ponsiblc for kceping proper accounting record5 11.hicli disclose, ii.itli reiisoiiable acciir<2C!'. the filliincial rM)sition of the chariii.. and li hicli enable Ihciii to both l& Sccrtain the fin4111Ci411 position ofthc ch<iriN- &11Id ciisiire tlicit tlie linncial stcltemeiits conipli. i¥ ith reolilations. Thei. are also respoiisible f(Ir Si¢ fe¥)U(1rdinLF ihe ¥1$5eis of Ihe charil}' and hence foi iakinLi reasonable steps for the prLI'eiition <111d dclcction of fraud and oilier irreliiilarilies. Sigiiecl: Date". LOR FF. lry. l."Llr
INDF.PF.INDF.NI T F.XAlI IlINF.R'S RF.PORT FOR TIIE YEAR EN'DED i APRIL 2023 Independent Eiaminer's Report to the Trustees of Iliffe Famili. ChAritable Trust (the 'chariti ) I report to the ¢l)arit!' Trustees on m). eiamiiiation of the accounts of the charit). for ihc j'ear ended 5 April trO?3. Tliis report 15 made solel!- to tlie cliaril! s Trustees. as a bodi-. in accordance ii'ith Part 4 of ihe Ch<irities (Accolints and Reports} Re{pulalions ?008. Mi" ii"ork" has been undertak'en so thai I niiglit statc to the charil) s TrusteC5 t1105e malters l ani required to state io ihem in an IiidependLnt Eianiincr's Rcport and for no otlier Plirpose. To tlie fiillesi e.Klenl penlIted b), Iclii., I do not acccpt or c1SSLimc responsibilit!" 10 an)"one oiher ihan ihe charil). and Ilie charit) s Triistees a5 a bod)". for m). iiork or for thi5 rewrt. Responsibilities anil Basis of Report As Ilie Tnislee5 of the charil!. }'ou are respoiisible for the preparation of Ihe accounts in accord<ince ii.ith the requirements oltlic Cliarilics Aci 2011 I'ihe 201 l Aci'l. I report in re.qpecl of m!. elimination of Ihe cli¢iritt s iccount5 carried oiit Linder scction l 45 of the ?{) I l Act ai)d in ¢arr)"ii)(p out m)" eianiiiiatioii I hai-e folloii.cd lill Ilic appliL<ible Dii'cctions (Jji'cn bi. tlie Cliarit!. Cominission iindcr scclion 145151(bl oftlie 201 l Act. Iiiclepenclcnt F.Yaminer's Statement I hill'e compleied m!. eiaminlltion. I can confimi ihai no matiers hai'e come to m!, aitenlion in connection ii'iih the examin1& lion gii'in? me caLise lo beliei'e Ihal in an). 1113terial respec1= accoiinline records ii'ere not kept in respecl of the charit!. as required b). section l JO of Ilie 201 l Aci.. or (lie accoLinis do not accord li iih those records: or (lie £lCCOLinis do noi conipl). li ith ihe 1( ppIic<ible reqLiirements concemiiio the fonn gnd cunieni of 4iLcoiinis Sei oiil in ilie Cl)Ic lities (Accoiinis ai)d Reports) ReoiililiLlliS ?On8 oilier Ilic1n an). rL"qiiircmciii ih1< t the 1( ccouiils ¥ii-e a 'iriie 421)d fair, i.'ieii' ii'l)icli is nor a Illiltter considered a5 part oran indepKndcnt cianiination.
I hai'e no con¢ems and hai'e come across no other iiiatlers in connection li itll the eianiination to iihich <1tteiilion sliolild be draii"n in this reEK)rt in order to enable a proper undcrstanding of tlie accolints to be reached. %igned= Daied.. 24 January 2024 F Haii"k'ins FCA James Coii'per Kreslon 2 Comniiinications Roiid GrL"enliam Biisiness Park Cireenham Neii.biir}' RG196AB
ILITr"FE FAII IILI, CHARII"ABLE TRUST STATEIIIE'T OF FIN'AN'CIAL ACTllflTIES FOR"I"HE I'EAR EJI DED * APRIL 2023 riote 2023 2022 IINCOIIIE FIl01. Ini'estinent Incoine Dii'icleiicls Inleresi on fi.led Inconie Stock- 26.604 1,207 1.176 Blink interest 41 TOTAL INCOlE 31.844 27.811 F.XPF.NDITURF. OIN: C11411'itable Actii'ities Doiicltions InclL'PLndLni Exaininerfs Fe¢ 8).500 1.560 87.060 134.000 135.416 Il:iisiiig funils Ini'cstment adi'ice fee 7.631 7.631 8.147 TOTAL EXI>EN'DITURE 94.()91 14.3.563 Re<ilised Iloss)loiin on disposal ofsh14 res DLLrLc25cllincrL<15e in i'allie of ini"eslinei)ts (7.971) (148.707} (156.678) 18.062 12.091 NF.T (LoSS)IGAI, ON IP*'l'ESTNIENI TS: 30,153 NIT EXPEIN'SE (219.i25} (8i.599) In botli ?023 &liid 20ti? 01. Il)e lotal incoine and expenditiire. all il'as io uiirestricled lunds. Tot&l1 fiinds broiiLht foni.ard Nel iiioi'ei)ieni in ILinds Toiic I fLinds C£ltTied forniard 1.819.5J4 1?19.j?5} 1.600.009 ,90i.13J (8). j9()1 1.819.534
ILIFFE FAhllLI" CIL4RITABLE TRUST B.4LAP4'CE SHEET AT S APRIL 2023 Nol¢ 21123 Total 2022 Total TANGIBLE FIXED ASSETS Investments ,581,488 1.774,060 CURRENT ASSETS c.ash ai bank and in hand Prepa)'ments and Accrued Income 21.929 48,818 72 48,890 21.929 CIIRRENT LIABILITIES Accrua15 (3,408) (3.416) NET CURRENT ASSETS 18,521 45.474 NET ASSETS 1.600.IM)9 1,819,534 THE FUNDS OF THE CHARITY Unrestricted fiLnd5 1,600,(K)9 1.819,534 TOTAL FUNDS OF THE CHARITI. 1.600.(M)9 1,819,534 SigDed: Date: Lord Iliffe Trustee C.L V-(x C E Fleming Tru5tte
ILIFFE FAMILY CHARITABLE TRUST NOTES TO THF. ACCOUNTS FOR THE YEAR ENDED 5 APIUL 2023 I. ACCOUNTING POLICIES The financial slatemenls have been prepared under the historical cost convention 'ith items recognised at cost or transaction value unless other¥vise staled in the relevant notes to these accounts. The financial slatemenls have been prepared in accordance ivith the Statement of Recommended Practice (SORP).. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Siandard applicable in the UK and Republi¢ of Ireland (FRS 102) iSSLied in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ircland (FRS 102), the Charities Act 201 l and the Trust Deed. The trust conslilutes a public benefil entity as defined by FRS 102. Investment income is accounted for on amounts receivable during the year. Expenditure 15 provided on an accruals basis. Irrecoverdble VAT is Charged to the Sialement of F inancial Activities as incurred. Inveslmenls are slated al market value and both realised and unrealised gains are retlected in the Stalcment of Financial Activities. Cash at bank and in hand includes cash and short terni highly liquid investments with a short maturity. of 3 monihs or less Irorn the date of acquisilion or opening of the deposil or similar account. The Trustees hai'e assessed i%'hether the use of going concem is appropriate in respect of a period at least one )'ear from the date of auihorisaiion for issue of the rinancial siatemenls and hai'e concluded that the Trusi has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the trust's abilil}' to conlinue as a going concern, thus the). continue to adopl the going concern basi5 of accounting in preparing the rinancial slatemenls. 2. CHARITY AND ORJECTS The Charity ivas set up b>, Declaralion of Trusi dated l O February 1977 H'iih the objecl of making distributions for the benefit of charitable purw15es in the United Kingdom or any other part of the iiorld. RESERVES POLICY The Trustees have 3 polic). to dislribute all the income arising each year subject to lunding applications received. There are no specific reserves set aside for contingencies as the total funds far outiveigh any contingency that could arise.
ILIFFE FAI3IlLI' CHARITABLF. TRUST OTF..% TO THF. ,tCCl)IlP*TS FOR THE I'EAR EIN DED 5 APRIL 2023 THE TRUSTEES AS AT S APRIL 2023 1%'F.RE: Lord Ilitle -adi Ilitle The Hon F..R. IlilTe C E Flen)ing None of ihe irLisiees receii'ed rernuneration or expenses in tlie )'ear lo 5 April 2023 (2022: £nil). S. DISTRIBUTIOINS NIADE BI, THE TRIISTEES Ih, THE I'EAR II'ERF: CFIARITI, AlOUNT Eclucatioii M<ln' Hare FoLindation RNILI i 0.000 i 0.000 20.000 qediciil Ci stic F ibrosis Trust Prior s Court Foiindaiion St Mich¢1el's Hospice Sii'ings & Smiles 5.000 1.000 -000 9,500 Herita Coi'eniri. Caihedr4I1 Mic t). RUSL Triist I'hL Il'alcnnill ThLatrL' 5,000 i 0.000 3.000 18.000 Reliuious k"<ilkl2iids lsl.Inds Nqeinorial Chipel Tnist Yattendon 2L lid Frilsliani Piirochial Chiir¢li Council 7.500 4.000 11.500 CoIi.seri':Ition RLd SqLIiI'I'LI Sun'ii'al 'l"riist %oil Associ<1tion 3.000 5.iOO Il'elf:11-e IILrk"%liii'c C'oinmiiiiiti" koiindation F<inii Africa i 0.000 1.000 i.000 5.000 l.ord l.e}'cester Hospital TO'fAL
ILIFFF. FAII IILI. CHARITèlBLE TIIUST C)TE.% TO TIIE trlCCOllI)T.% FOR THE I'EAR EIN DED i APRIL 2023 6. INIIF.STIIIF.l*TS The moi'emenls in ini'esiments are as folloii"s= Summari" 2023 2022 14lrkel i'alue blf Additions Dispokils proceeds Cash mo%'enieni Net ini'estment (losses)Igains Mark"ei i'4iluL elf 1.774.060 1.723.] ?1 71.131 (64.640) (95.604) (42.385) 5.3.367 156.6781 30.153 I,i81.488 1.774.060 Inconie in i'ed1r to 5 April 2023 The total is made up Js folloii's= Filed Inleresl 32,661 1,008 UK Ini'eslinentlunil Trusts & Altemalii'e Fiinds UK Sh¢ires 379.189 286.903 13.81)6 9.172 666.092 698.753 Other Secliriiies oulside ihe UK 8?5.690 7.559 Total Seciirities 1.524.443 31,635 Casli i7.04) 1.581.488 168 31.803 Tlie TrLisiees consicler ihL folloii.ing ini'esimenis io be 11)aierial to ihe Inarkei i'aliie of Ihe porifolio at 5 April ?0?3.. market i'alue 105.9?0 98.453 I l¢iinL5 US N.licl EqLlitI" rindlcll P&irk FLinc15 Pli SIIS Norih AmeriL<lll B Inc Fiindsniiih LLP F.dLFeii'ood l. Seleci US Seleci Groii111 XTr,IcLers Gold V% B<11nbLIB11ck Asia Siiiiliini Ini'estmeiii l.-Iinds Al l-"Iiiid Z I'Oj£in liii-c51mciit l.-Linds Bl&ickrock EiiropLc l) Di"n471nic Flind Pc)l?r C1pi11¢ l Fiin(Is 82.082 80.831 78.376 77.654 75.387 73.983 883.0?0 10
ILIFFE FANIILI, CHARITABLE TRUST OTF.S TO THF. ACCOllINTS FOR THE I'EAR EIN DED Th APRIL 2023 7. AD'ALI'SIS OF FUPD ASSETS AfiD LIABILITIES: As at.* &lpril 2023 Unrestricted fuDds Total Filed asset ini'eslments Clirreni asseis Clirreni liabilities 1.581.488 1.581,488 (3.408) 1.600.009 (3.408) 1,600,009 As at i April 2022 Unrestricte(J funds Total Filed asset ini'estments CLirrLiit assets Ciirrent liabilities 1.774.060 48.890 1).416) 1.819.i34 1.774.060 48.890 13.416 1.819.i34 8. SllllIlI IARI, OF FIINI D IIIOI'EIllENI 'TS Fund Name Funcl Balances broiiuht Income Eipen(liture Gains n(1 Fun(1 Balaiiecs Losses carrie(I for4%'41r(I Unreslricled Fiinds Toial Fiinds 1.811). jJ4 1.819.i34 94.691) (156.678) (94.691) (156.678) 1.600.00() 1.600.009 31.844 In both 2023 and 20?2. all income. eipendiiure and gains and losses iiere to IinTestrict¥cI fLinds.