R A and V B Reekie Trust Unaudited Annual Report and Finallcial Statements Year Ended 5 April 2024 Charlty No: 274388
RA AND V B REEKIE TRUST Report and Financlal Statements for the year ended S April 2024 Contents Page.. Rewrt of the Trustees Independent Examiner5 Report ststement of Financial ActiVTtie5 Balance Sheet 9-13 Notes to the Financial Statements Trusteès Mrs VirgTnia Br1dget Reekie Robert Andrew Reekie Jonathan Alistair James Reekie Nlcola Alison LoLtise IAcKittri¢k (appointed l August 20231 Prfncipal Offlce R A and V B Reekie Trust, Clo BDO LLP, Two Snowhill. Bimiingham, B4 6GA Accountants BDO LLP. Two Snowhill, Blmingham, B4 6GA Independent Examiner Perry5 Audlt Limited, Churchdown Chambers, Bordyke. Tonbridge, Kent. TN9 1 NR Investment Managers Evelym Partners, 14th Floor, 103 Colmore Row. Birniingham, B3 3AJ Bankers Lloyd5 TSB plc, P O Box 44, 125 Coimore Row, Birmingham, B3 3AD Sollcltors Shakespeare Martineau LLP. 1 Colmore Square. Birrningham, B4 6A
R AAND V B REEKIE TRUST Report of the Trustees for the year ended 5 WII 2024 The Trustees present their Annual Report covering the Tnt'S activities for the year ended 5 Aprfl 2024. Legal and administrative information set out on page I form5 part of this report. HlstOry* ubJectlve5 and actlvlties of the Trust The Trust was established under a Deed of Twst dated 18 July 1977. The objects are summarised as being to apply both income and capital for or towards such charitable puryjoses and to make such dL)nations to such charitable institutions as the Trustees may in thelr discretion think fit with no deflned beneficial area. Structure. governance and management The name5 of the Trustee5 who have acted during the year are sel out on page l. The Trustees meet informally throu8houl the year to formulate aThJ pian thelr grant-maklng pollcies and activities once a year to consider and approve the previous year's accounts and to forsnulate an overall plan for the coming year. Objectlves and actlvlties The objectives of the Trust are to support from the Income of the Trust by way of grants, charitable institutions and objectlves at the Trustees. discretion. The Trustees have identified an interest In locally-based (Wiitshire charities as well as their continuing interest In certain national and international charitles and some grants to these are made on a regular basis. Un501iated applications received for grants are therefore very unlikely. however, the Tnjst has an unspent incorne general fund of £62,598 at 5 April 2024. The donations and subscription5 made enable the charities to meet their objective5 and to provide benefit to the public. The Trustees have confirmed that they have referred to the guidance in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activitie5 and setting the grant making wlicy for the year. Achievements and perforniance of the Trust During the year charitable grants were made to 38 separate charities totalling £32,250. The Largest grants made were: GTrl Guides Beaconfield Campsite Norfolk Wildlife Trust 5,000 Examination of the schedule of charktable grant5 on page 10 and 11 will show that the Trustees have fulfilled the objectives of the Trust during this financial year by makln4 grants substantially to locally-based Iwiltshirel harities as well as natiunal and intemational charities.
R AAND V B REEKIE TRUST Report of the Trustees for the year ended 5 Aprfl 2024 (continued} Finandal revTew, Investment policy and reserves The financial staternents consist of a statement of flnancial activities and balance sheet. There have not been any significant changes in the Trust's activities or the manner in which these aciiwties have been carried out. The flnantial Statements have been prepared in accordance with the Rules of the Charlty and Charity commion Guidelines. The investment Tncome for the year was £44.073 which was an Increase of £792. Grants received for the year totalled £3,0(X). This includes cash of É3.0(Xl from the George Cadbury Fund B Account. Adrninistration expenses for the year were £10,927, an Increase of £2,461. At 5 Aprll 2024 the unspent income general fund at Lloyds TSB Bank and Evelyn Partner5 was £62,598. Under the Deed of Trust the Trustees are empowered to retain any investments for as long as they in their ab501ute discretion think flt and notwlth5tanding that by rea50n of such retention Inve5tment5 are not sufficiently diversified. The Trustees are also empowered to use the investments in the same manner as income and there 15 therefore no flxed endowmtyt fund and no restricted investments. The investment policy statement sets out a5 the investment objective that the Trustee5 intend that the real value of their assets be rnaintained and enhanced over the long term by investment in a portfolio comprised of equltSes, fixed income Stocks and cash. In order to meet these objèct1ves the Trustees have appointed Evelyn Partners as the7r agent to advlse on their portfolio and manage that part of the portfollo whlch is not invested with a Common Investment Fund. A balanced Investment objectfve WTth rnedTum risk has been selected. Twice a year reports and valuatTans are received from the Trust's investment adw50r includlng reports direct from the investtnents Tn Common Investment Funds. Investment managerfs report At close of buslness on 5 April 2024. the investment fund was valued at £1,152,399. During the preceding 12 month period. the overall value of the inyestments has increased by £44,774. There were two sales and two purchases of investments during the year. In accordance with the Trustees, Instruction, the level of the estlmated gros5 income for 2024125 is £44,000. General unrestrtcted funds It is the policy of the Trustees, havlng regard to the specifled designated fund referred to below, to maintaln the general unrestricted fund5, which are the unspent general fund of the charity, at a level which equates to approximately 10 months expenditure on grants and management and administration. Such funds may be held In order to finance both working capital and capital investment in furtherance of the objectives of the charrity. The unspent general fund at 5 April 2024 represents approximately 17 months expenéiture.
R A AND V B REEKIE TRUST Report of the Trustees for the year ended 5 Aprll 2024 Icontlnued) Des18nated funds Degnated funds are aMots that have been put aside out of unrestricted funds at the d15cretlon of the Trustees for partlcular purpose5. The designation is for admini5trallve purposes only and does not legally restrfct the TtU5tees' discretion to apply the funds. The TNstee5 have created the following designated funds= Investment fund To prowde the income necessary to malnlain the Trust's charitable activities. the charity requires a significant apital base and the Trustees have maintained an actfve investment wlicy in order to provfde a degree of stablllty nd certainty in income levels. In the circumstances the Trustee5 have created a designated investment fund that represents the government stocks and other listed Investments held In the charity's inve5trllent portfolio. Future plans It Is Intended to use the funds described above to contlnue the objectives of the Trust, as earlier descrlbed, indefinitely. Thi5 means that the Trustee5 will be looking to make charitable grants of circa £30,0 on an annual basis. Rlsk managemerbt Having regard to the Trust's organlsatlon and activities, it Is the view of the Trustees that the major risks to which the Trust may be exposed are largely financial in nature. The Trustees review the major risks which the Trust faces on a regular basis and believe that maintainlng free reserves at the levels indicated above, combined with the half-yearly report from the Trust's inve5ttnent advlsors to monitor perfomiance, will provlde sufficient resources in the event of adverse conditions. Trustees. respon5iblllties In relation to finandal statements The Trustees are responsible for weparing the Annual Report and ihe financial statements In accordance with applicable law and regulation5. Charity law require5 the Tnjstees to prepare flnancial statement5 for each financial year In accordan with United Kingdom Generally Accepted Accounting Practice (United Kingd¢m Accounting Standard5 and applicable lawl. Under charity law the Trustees must not approve the financial statements unless they are satisfled that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including thè income and expenditure, of the charity for that period. In preparing these financial statewnents, the Trustees are required to- Selecl Sultable accounting pollcies and then apply them consistently; Make judgements and estinates that are reasonable and prudent; State whether applicable UK 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 chariiy wlll continue in business.
R A AND V B REEKIE TRUST Report of the Trustees for thè year ended 5 Aprll 2024 Icontlnued) Trustees, responsiblllties In relatlon to financial statements {contlnuedl The Trijstees are responsible for keeping adequate accounting record5 that are 5ufflthent to show and explaln the charity'5 transactions and disc105e with reasonable accuracy at any tlme the flnancial posltlon of the charity and enable them to ensure that the financlal statement5 comply with the Charities Act 2011. They are also responsible for Safeguarding the assets of the charity and hence for taklng reasonable steps for the prevention and detecllon of fraud and other Irregulartties. Approved by the Trustees and signed on their behalf ty.. Virginia Reekle Trustee
Independent Examiner's Report to the Trustees of the R A and V B Reekie Trust I report on the financial statements of R A and V B Reekie Trust for the year eed 5 April 2024 which are set out on pages 7 to 13. This report Is made 501ely to the charity s trustees, as a body, in accordance wlth Regulatlon 31 of the Charities IAccounl5 and Reports) Regulations 2008. My work has been undertaken so that l Tnight slate to the charIt5 trustees those matter5 1 am required to state to them in an independent examlner's report and for no other puT)se. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity's trustees as a body. for my work, for this report. or for the statement I have made. Respectlve responslbllltles of trustees and examlner The chartty's trustees are responsible for the Pparation of the accounts. The charity's trustecs conslder that an audit ls not reqLsired for thi5 year under sectlon 14412) of the chariti Act 2011 {the Charfties Act) and that an independent exarnination is needed. It ts my re5ponsibTlity.' to examirbe the accounts lunder section 145 of the Charities Act); to folltsw the procedure5 laid down in the general Directions given by the Charity Commission (under section 14515llbl of the Charities Act); and to state whether particular matters have come to my attention. Basis of llldependent examinerfs rèport My examination was Cated out in accordance with the gencral Directions given by the Charity Commission. examinatlon include5 a review of the accounting records kept by the charity and a comparison of the accounts presented with those record5. It also includes consl¢Jeration of any unusual itewns or disClosuS in the accounts. and seeklng explanations from you a5 trustee5 conceming any such matters. The procedures undertaken do not provide all the evidence that would be requlred 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 Independent examlner'5 5taternent In connection with my examination, no matter has come to my attention: 111 which gives me reasonable cause to believe that In, any material respett. the requirements.. to keep accounting records in accordance wlth section 130 of the Charitie5 Act; and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not ljeen met., or 121 to which, In my opinion, attention should be drawn in order to enable a proper Lmderstandirbg of the accounts to be reached. S Hale Steye Hale FCA,FCCA, on behalf of Perrys Audit Limited Clvjrchdown Chambers Bordyke Tonbridge Kent TN9 1NR Date: 11.2.25
RA AND V B REEKIE TRUST Statement of Financlal Activltles for the year ended 5 April 2024 Unrestricted Fund 2024 Unrestricted Fund 2023 Notes Income from Inve5ttnents Grants frorn other charitable trusts 44,073 43,281 5,000 Total 47.073 48.281 Expendlture on Raislng funds Investment management costs Char(table activities Actlvfties undertaken Grant expenditure Govèrnance costs 3,7T1 3,800 32,250 7.156 33.240 4,666 39.406 37.906 Total 43.177 41,706 Net Income before investment gainslllosses) 3.896 6,575 Galn5 and losses on investments Realised gafn5 on Tmiestment assets unalISed IIos5esllgains on investment assets 11,480 36,057 9,551 189,1731 Net incomellexpènditurel 51.433 173,0471 ReConciliaOn of funds Fund balance5 brought forward at 6 April 2023 1,163,564 1,236,611 Fund balances carried forward at 5 April 2024 1.214,997 1,163,564 Approved by the Trustees and signed on their behalf by: /Zwl£g" Virginla Reek Trustee The notes on page5 9 to 13 form part of these financial statements.
R A AND V B REEKIE TRUST Balance Sheet as at 5 Aprll 2024 Notes 2024 2023 Fixed Assets Investments 1,152,399 1.107.625 Current Assets Bank balances and deposfts 68,348 61.481 Current Liabilltles Creditor5- amounts falling due within one year (5,750) 15,5421 Net currènt assets 62.598 55,939 Total net assets 1,214.997 1,163,564 Fund5 Unrestricted Funds 1.214.997 1.163,564 Approved by the Trustees and signed on their behalf by: Vlrglnia Re Trustee kle The noies on pages 9 to 13 form part of these financial statements.
R A AND V B REEKIE TRUST Notes to the financial 5taternents for the year ended 5 Aprll 2024 1 ACCOUNTING POLICIES Ba5]5 of Preparatltsn The Financial statements haye been prepared under the historical cost convention, as modified by the revaluatlon of freehold Propert1 and Inve5trnents. The financial statements are prepared In accordance with Accounting and Reportini Charlties: Statement of Recommended Practlce appllcable to charities preparing thelr accounts in accordance th the Financial Reporting Standard applicable in the UK IFRS 1021. Reconallatlon with the prevlous qenerally accepted accountlng practice In preparing the accounts. the Trustees have considered whether in aPpIng the accounting policies required by FRS 102 and the Charities SORP FR5102, the re7nstateent Df comparatives was required. As a result, no restatement was required. Fund accountfng The charlty maintains various tYFes of funds as follows- Unrestricted funds General unrestricted funds represent unrestrlcted Income, which is expendable at the dlscretion of the Trustees ln the furtherance of the objects of the charity. Such funds may be held in order to finance both working capital and capital inYe5tment. Desiynated funds are amounts which have been put aside out of unrestricted funds as follows: Inve5trnEnt fund - to provide the iricome necessary to malntaln the Trtjst's charitable aciivities, the charity requires a significant capital base and the Trustees have maintained an active investment policy in order to PrOde a degree of stability and certainty in incotne leve15. In the circumstances the Trustees have created a designated investment fund that represents Ilsted investments hel(1 in the charity's investment portfolio. Incoming resources All income is recognised in the statement of flnanclal activities when the conditions for receipt have been met and there is reasonable assurance of rÈceipt. Where a claim for repayment of income tax has or wll be made, such income is grossed up for the tax recoverable. Grants Grant5 made by the Trust arè charged against income In the year In whlch they are made. Charitsble expenditure, fundraisin8> management and admlnlstration costs Charitable expenditure comprises expenthture relating to the objects of the charity. Costs are allocated between charitable expenditure, fundraising and administration on the basis of expenditure in support of charitable objects, fundraising or administration and managemènt. The charity does not Incur fundraising or publlcfty expenses.
R AAND V B REEKIE TRUST Notes to the flnancial statements for the year ended 5 April 2024 1 ACCOUNTING POLICIES (continued Investments Listed investments are stated at closlng middle market prtce Immediately prior to the end of the financial year. All movements In value are shown in the statement of financial actitIeS. Income from listed investments is recognised as income a5 received together any associated recoverable income tax or tax redit. Realis and unreali5ed gains and 1055e5 are shown separately In the appropriate section of the statement of financial attiwties. Judgements in applylng accounting poliaes and key sources of estlmation unrtainty In preparing these financial statemeT)ts, the TrL5Stees are required to make JgementS, estimate5 arKt assumptions about the carrying amounts of a55ets and liabilitles that are not readily apparent from other source5. The estimate5 and a550Ciated assumptions are based on the historical experience arbd other factors that are considered to be relevant. Actual result5 may differ from those estimates and underlying a$SmptIOnS arKI continually reviewed. There are no key sources of estimatlon uncertainty that the Trustees have made in the process of applying the accoLTnting policie5. 2 INVESTMENT INCOME 2024 2023 Dividend5 Interest on cash deposits 43,779 294 43,234 47 44,073 43,281 3 GRANTS Reglstered Charlty No. 2024 Action for River Kennet Almelda Theatre Alzheimers Research UK Artangel Trust British Red Cross Britten Pears Art5 Build IT International Centre Pofnt Community Foundation Wilts Countess of Brecknock Hospice Fare5hare Felsted Sthool Misslon 1120725 282167 1077089 292976 220949 261383 1115989 292411 1123126 1067238 1100051 310870 200 500 200 750 1,000 1.000 2,000 1.000 1.000 100 1,000 500 9.250 io
RA AND V B REEKIE TRUST Notes to the flnanclal statements for the year ended 5 Aprfl 2024 3 GRANTS ICONTINUEDI Registered Charlty No. 2024 Brought forward 9,250 Friends of Tate Gallery Glrl Guides Beaconfield Campsite Harbour Project Health Prom Home Start Cambri(Jgeshire Lamb Health Longborough Festival Opera Marlbarough LFterature Medical Aid For Pal*tinian5 Norfolk Wildlife Trust North Wiltg Home Start Oxford Lieder Philharmonia Orchestra 313021 1042773 1171368 1100459 1106007 1101217 1087303 450 5,000 300 1.000 200 300 1.000 1,000 1,000 3,000 300 500 300 114925Z 1045315 207238 1106736 1111458 250277 111 Practical Artion Preshute Church Prospect Hospice Religiou5 society of Friend5 Royal Soclety of Medlclne Selly Oak Nursery School Shrewsbury Ark Shrewsbury Food Hub St Johns Smith Square St Peters and St PauL5 Marlborough Twst The Trussell Trust Valerie Taylor Wilt5 & Berks Canal Trust 247257 1184256 280093 1127633 206219 528912 1163476 500 800 1,000 800 1.000 1,000 500 300 200 5(M) 1,000 300 750 1171092 1092461 275557 1110522 1122245 299595 32.250 Details of grants paid in the corresponding period are available on request from the registered addres5 of the charity.
R A AND V B REEKIE TRUST Notes to the financial statements for the year ended 5 April 2024 4 GOVERNANCE COSTS Incluiled within expenditure on tharitable activitles are the followrng costs:. 2024 2023 Indendent examlner's fee Accountancy fees LEI renewal fee Legal fee5 990 4.414 72 1.680 985 3,681 7,156 4,666 No Trustee received any remuneration or benefits from the charity during the year 12023 £Nil} nor any expenses12023 ENill. There are no employees12Q23 . M>nel. 5 INVESTMENTS 2024 2023 Quoted investment5: Market value as at 6 April 2023 Addition5 DTsposals Realised gains Net unrealised investment gainsl(1055es) Market value 5 April 2024 1.094,942 58,589 {65.6581 11,480 36.057 1.173,586 42,213 147.2351 9,551 189.1731 1.135.410 1,094.942 Uninve5ted cash capital 16.989 12,683 1.152,399 1.107,625 H7Storical cost as at 5 April 2024 958.239 953.829 6 CREDITORS 2024 2023 Investment manager's fee Accountancy Independent examiner's fee 937 3.868 945 942 3,700 900 5.750 5.542
R A AND V B REEKIE TRUST Notes to the financlal statements for the year ended 5 Aprfl 2024 7 STATEMENT OF MOVEMENTS ON UNRESTRICTED FUNDS Balance 6 Aprfl 20Z3 Expendlture galn5 and 105ses Balance 5 April 2024 Income Transfers Investment fund General fund 1,107.625 55.939 44,774 140,4141 1.152,399 62,598 47,073 Total unre5trfcted funds 1,163,564 47,073 4,360 1,214,997 8 TAXATION The R A And V B Reekie TTUSt 15 a registered charlty and, as such, is exempt from tax on Income and gain5 falling within Section 505 ICTA88 or SecLlon 256 TCGA92 to the extent that they arè applied to Its charitable objectives. 9 RELATED PARTY TRANSACTIONS Virglnia Reekie Is a trustee of Marlborough Literature Festlval, charity number 1149252. During thè year. grants of £1,000 were made to Marlborough Literature Festival12023 - E1,OCQI by the Charity. t3