**Charity number: 277293**
## **D.C.R. ALLEN CHARITABLE TRUST**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 5 APRIL 2024**
## **D.C.R. ALLEN CHARITABLE TRUST**
|**CONTENTS**||
|---|---|
||Page|
|**Reference and administrative details of the Charity, its Trustees and advisers**|1|
|**Trustees' report**|2 - 4|
|**Independent examiner's report**|5|
|**Statement of financial activities**|6|
|**Balance sheet**|7|
|**Notes to the financial statements**|8 - 14|
## **D.C.R. ALLEN CHARITABLE TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS**
|**Trustees**|C.D.R. Allen|
|---|---|
||J.M.R. Frusher|
||T.C.R. Allen|
|**Charity registered**
**number**
277293
**Principal office**
Estate Office
Edgcote House
Edgcote
Nr. Banbury
OX17 1AG
**Accountants**
Evelyn Partners (East) LLP
Accountants
Stonecross
Trumpington High Street
Cambridge
CB2 9SU
**Bankers**
Weatherbys Bank Limited
Sanders Road
Wellingborough
Northamptonshire
NN8 4BX
**Solicitors**
Francis Piesse
The Dove Pier
Lower Mall
London
W6 9DJ
**Independent Examiners**
Julie Mutton
CLA Evelyn Partners Limited
Stonecross
Trumpington High Street
CB2 9SU
**Investment Managers**
Rathbone Investment Management
8 Finsbury Circus
London
EC2M 7AZ||
Page 1
## **D.C.R. ALLEN CHARITABLE TRUST**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2024**
The Trustees present their annual report together with the financial statements of the charity for the 6 April 2023 to 5 April 2024.
## **Objectives and activities**
## **a. Policies and objectives**
The objective of the Trust are to pay or apply the capital and income of the trust fund to such charities or for such charitable purpose in such a manner and subject to such terms and conditions as the Trustees may at their uncontrolled discretion determine having regard to any directions given or wishes expressed by the Settlor to the Trustees.
## **b. Main activities undertaken to further the Charity's purposes for the public benefit**
The trustees confirm that they have referred to the Charity Commission’s general guidance on public benefit when making grants and agreeing the distribution policy for the year.
16 grants totalling £136,500 were awarded to charitable institutions in the year. Grants were awarded within the range of £1,000 to £20,000 (2023: 13 grants totalling £150,060 were awarded to institutions ranging between £5,000 to £30,000). The grant allocation between the charitable sectors was as follows:
Youth projects - 15% Education - 48% Disability - 22% Other - 16%
## **Achievements and performance**
## **a. Review of activities**
The Trust's incoming resources consists of income from the investment portfolio of £186,945 (2023: £185,375). There was 1 donation received of £1,000 (2023: Nil) in the period. The total expenditure amounted to £171,963 (2023: £185,339) of which £136,500 (2023: £150,060) was spent on grant making.
In the year to 5 April 2024 the Trust's investment portfolio showed a increase in value. Details of the investment portfolio and the changes during the year are shown in note 10 to the accounts.
The net assets of the Trust amounted to £6,113,558 (2023: £5,769,132). The Charity's assets are unrestricted, available and adequate to fulfil its obligations. The Trust operates independently in pursuit of its charitable objectives in the UK and will continue to apply and fulfil those objectives in the future.
Page 2
## **D.C.R. ALLEN CHARITABLE TRUST**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024**
## **Financial review**
## **a. Going concern**
The charity has a substantial investment portfolio and the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. The Trust has been able to continue making grants throughout the post balance sheet period, and expects to continue doing so for many years to come. For this reason, the Trustees continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## **b. Reserves policy**
Charity has no formal reserves policy.
## **Structure, governance and management**
## **a. Constitution**
D.C.R. Allen Charitable Trust is a registered charity, number 277293, and is constituted under a Trust deed. The Charity was established by a Deed of Trust dated 6th January 1979 and registered as an unincorporated charity in the UK on 28th Februay 1979.
## **b. Methods of appointment or election of Trustees**
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
## **c. Organisational structure and decision-making**
There are no employees and grants are made on the basis of the Trustees' discretion. At the Trustees' meeting, the strategy and areas of activity for the charity are agreed. These will include consideration of grant making, investments, reserves and risk management policies and performance. If applicable, decisions are made by the Trustees in conjunction with the professional advisors. The investment portfolio is managed and maintained by Rathbones, the Trust's investment manager.
The Trustees meet at regular intervals throughout the year to consider and approve various applications received for funding. The Trust continues to make grants in accordance with the terms set out in the Trust Deed and has provided 13 grants to a wide range of charitable institutions during the year.
## **d. Risk management**
The trustees have reviewed the risks to the assets of the charity and they consider that adequate controls are in place to mitigate those risks.
## **Plans for the future**
The trustees aim to support as many charities as possible that meet the criteria set out in their grant making policy.
Page 3
## **D.C.R. ALLEN CHARITABLE TRUST**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024**
## **Statement of Trustees' responsibilities**
The Trustees are responsible for preparing the Trustees' report and the 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 & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its 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 (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) 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 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 at any time 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 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence 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:
Julia Frusher (Feb 4, 2025 09:13 GMT)
................................................
## **J.M.R. Frusher**
## Date: 04/02/2025
Page 4
## **D.C.R. ALLEN CHARITABLE TRUST**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2024**
## **Independent examiner's report to the Trustees of D.C.R. Allen Charitable Trust ('the Charity')**
I report to the Trustees on my examination of the accounts of the D.C.R Allen Charitable Trust for the year ended 5 April 2024, which comprise the Statement of Financial Activities, Balance Sheet and the notes to the accounts, including a summary of significant accounting policies.
## **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 ('the 2011 Act').
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 145(5)(b) 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:
1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters 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.
Signed: Julie Mutton Dated: 04/02/2025 Julie Mutton (Feb 4, 2025 10:38 GMT)
Julie Mutton Fellow of the institute of Chartered Accountants in England and Wales
CLA Evelyn Partners Limited Stonecross Trumpington High Street Cambridge CB2 9SU
Page 5
## **D.C.R. ALLEN CHARITABLE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024**
|**Note**
**Income from:**
Donations and legacies
3
Investments
4
**Total income**
**Expenditure on:**
Raising funds
5
Charitable activities
6
**Total expenditure**
**Net income before net gains/(losses) on**
**investments**
Net gains/(losses) on investments
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2024**
**£**
**1,000**
**186,945**
**187,945**
**32,643**
**139,320**
**171,963**
**15,982**
**328,444**
**344,426**
**5,769,132**
**344,426**
**6,113,558**|**Total**
**funds**
**2024**
**£**
**1,000**
**186,945**
**187,945**
**32,643**
**139,320**
**171,963**
**15,982**
**328,444**
**344,426**
**5,769,132**
**344,426**
**6,113,558**|_Total_
_funds_
_2023_
_£_
_-_
_185,375_
_185,375_
_31,979_
_153,360_
_185,339_
_36_
_(473,901)_
_(473,865)_
_6,242,997_
_(473,865)_
_5,769,132_|
|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 8 to 14 form part of these financial statements.
Page 6
## **D.C.R. ALLEN CHARITABLE TRUST**
## **BALANCE SHEET AS AT 5 APRIL 2024**
|**Note**
**Fixed assets**
Investments
10
**Current assets**
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within one
year
12
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Charity funds**
Restricted funds
13
Unrestricted funds
13
**Total funds**|**17,216**
**292,145**
**309,361**
**(3,780)**|**2024**
**£**
**5,807,977**
**5,807,977**
**305,581**
**6,113,558**
**6,113,558**
**-**
**6,113,558**
**6,113,558**|_17,572_
_321,740_
_339,312_
_(7,860)_|_2023_
_£_
_5,437,680_|
|---|---|---|---|---|
|||||_5,437,680_
_331,452_|
|||||_5,769,132_|
||||||
|||||_5,769,132_|
|||||_-_
_5,769,132_|
||||||
|||||_5,769,132_|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
Julia Frusher (Feb 4, 2025 09:13 GMT)
................................................
## **J.M.R. Frusher**
## Date: 04/02/2025
The notes on pages 8 to 14 form part of these financial statements.
Page 7
## **D.C.R. ALLEN CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024**
## **1. General information**
The principal office of the charity is Estate Office, Edgcote house, Edgcote, Nr Banbury, OX17 1AG.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
D.C.R. Allen Charitable Trust meets the definition of a public benefit entity under FRS 102. The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated
## **2.2 Going concern**
The Trustees are confident that the charity has adequate reserves and resources to continue operations for the foreseeable future and is well placed to manage its business risks successfully. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
## **2.3 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Page 8
## **D.C.R. ALLEN CHARITABLE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024**
## **2. Accounting policies (continued)**
## **2.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity.
Costs of generating funds are costs incurred in managing investments.
Charitable activities are costs incurred on the charity's grantmaking operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.
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 (or when it is probable that conditions will be fulfilled and satisfaction of the conditions is outside the control of the Trustees). Grants offered subject to conditions which have not been met at the year end and that have not been recognised as expenditure are noted as a commitment, but not accrued as expenditure.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
## **2.5 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 Bank.
## **2.6 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the statement of financial activities.
## **2.7 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Page 9
## **D.C.R. ALLEN CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024**
## **2. Accounting policies (continued)**
## **2.8 Financial instruments**
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Trade and other debtors and creditors are classified as basic financial instruments and measured at transaction price. A provision is established when there is objective evidence that the charity will not be able to collect all amounts due.
## **2.9 Fund accounting**
General funds are unrestricted 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.
## **3. Income from donations and legacies**
||**Unrestricted**|**Total**|_Total_|
|---|---|---|---|
||**funds**|**funds**|_funds_|
||**2024**|**2024**|_2023_|
||**£**|**£**|_£_|
|Donations|1,000|**1,000**|_-_|
## **4. Investment income**
|**Unrestricted**
**funds**
**2024**
**£**
Investment income
173,135
Investment income from property fund
13,810
186,945
_Total 2023_
_185,375_|**Total**
**funds**
**2024**
**£**
**173,135**
**13,810**
**186,945**
_185,375_|_Total_
_funds_
_2023_
_£_
_176,078_
_9,297_|
|---|---|---|
|||_185,375_|
||||
Page 10
## **D.C.R. ALLEN CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024**
## **5. Investment management costs**
|**Unrestricted**
**funds**
**2024**
**£**
Independent examiner fees
32,643
_Total 2023_
_31,979_|**Total**
**funds**
**2024**
**£**
**32,643**
_31,979_|_Total_
_funds_
_2023_
_£_
_31,979_|
|---|---|---|
||||
## **6. Analysis of expenditure by activities**
|Grant making activities
_Total 2023_|**Grant**
**funding of**
**activities**
**2024**
**£**
136,500
_150,060_|**Support**
**costs**
**2024**
**£**
2,820
_3,300_|**Total**
**funds**
**2024**
**£**
**139,320**
_153,360_|_Total_
_funds_
_2023_
_£_
_153,360_|
|---|---|---|---|---|
||||||
## **Analysis of support costs**
|Independent examiner fees
_Total 2023_|**Grant**
**making**
**activities**
**2024**
**£**
2,820
_3,300_|**Total**
**funds**
**2024**
**£**
**2,820**
_3,300_|_Total_
_funds_
_2023_
_£_
_3,300_|
|---|---|---|---|
|||||
Page 11
## **D.C.R. ALLEN CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024**
## **7. Analysis of grants awarded**
|**Grants awarded in year**
Build Up
Chipping Warden School
Derby Toc
Designability Charity Ltd
Douglas Bader Foundation
Farm for City Children
Halow
Home-Start
Hydro Fund
Lyme Regis Boat Building Academy
Mulberry Bush Organisation
Ocean Youth Trust
Polar Academy
Quest for learning
SHINE
Spark Inside
Samaritans
The Clink Charity
The Country Trust
The Never Alone Project
Thomas's Fund
The Childhood Trust
The 'No Way' Trust
Tempus NoVo
Transition UK
UPSNDOWNS|**2024**
**£**
**-**
**10,000**
**-**
**10,000**
**5,000**
**10,000**
**-**
**-**
**10,000**
**8,000**
**12,000**
**20,000**
**-**
**-**
**10,000**
**-**
**12,000**
**2,500**
**10,000**
**1,000**
**5,000**
**6,000**
**-**
**-**
**-**
**5,000**
**136,500**|_2023_
_£_
_20,000_
_-_
_10,000_
_-_
_-_
_-_
_5,000_
_10,000_
_-_
_-_
_-_
_25,060_
_10,000_
_10,000_
_-_
_5,000_
_10,000_
_-_
_-_
_-_
_-_
_-_
_10,000_
_30,000_
_5,000_
_-_|
|---|---|---|
|||_150,060_|
## **8. Independent examiner's remuneration**
The independent examiner's remuneration amounts to a fee of £3,300 ( _2023_ - _£3,000_ ).
## **9. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2023 - £NIL)_ .
Page 12
## **D.C.R. ALLEN CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024**
## **9. Trustees' remuneration and expenses (continued)**
During the year ended 5 April 2024, no Trustee expenses have been incurred _(2023 - £NIL)_ .
## **10. Fixed asset investments**
|**Cost or valuation**
At 6 April 2023
Additions
Disposals
Revaluations
At 5 April 2024
**Net book value**
At 5 April 2024
_At 5 April 2023_
**11.**
**Debtors**
**Due within one year**
Accrued investment income
**12.**
**Creditors: Amounts falling due within one year**
Trade creditors
Accruals and deferred income|**Listed**
**investments**
**£**
**5,215,199**
**1,059,263**
**(1,036,230)**
**359,719**
**5,597,951**
**5,597,951**
_5,215,199_||**Charity**
**property**
**fund**
**£**
**222,480**
**-**
**-**
**(12,455)**
**210,025**
**210,025**
_222,480_
**2024**
**£**
**17,216**
**17,216**
**2024**
**£**
**-**
**3,780**
**3,780**|**Total**
**£**
**5,437,679**
**1,059,263**
**(1,036,230)**
**347,264**
**5,807,976**
**5,807,976**
_5,437,679_
_2023_
_£_
_17,572_
_17,572_
_2023_
_£_
_3,300_
_4,560_
_7,860_|
|---|---|---|---|---|
||||||
||||||
||||||
||||||
Page 13
## **D.C.R. ALLEN CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024**
## **13. Statement of funds**
## **Statement of funds - current year**
|**Balance at 6**
**April 2023**
**£**
**Unrestricted funds**
General Funds - all funds
**5,769,132**
**Statement of funds - prior year**
_Balance at_
_6 April 2022_
_£_
**Unrestricted funds**
General Funds - all funds
_6,242,997_|**Income**
**£**
**187,945**
_Income_
_£_
_185,375_|**Expenditure**
**£**
**(171,963)**
_Expenditure_
_£_
_(185,339)_|**Gains/**
**(Losses)**
**£**
**Balance at 5**
**April 2024**
**£**
**328,444**
**6,113,558**
_Gains/_
_(Losses)_
_£_
_Balance at_
_5 April 2023_
_£_
_(473,901)_
_5,769,132_|**Gains/**
**(Losses)**
**£**
**Balance at 5**
**April 2024**
**£**
**328,444**
**6,113,558**
_Gains/_
_(Losses)_
_£_
_Balance at_
_5 April 2023_
_£_
_(473,901)_
_5,769,132_|
|---|---|---|---|---|
|||||_Balance at_
_5 April 2023_
_£_
_5,769,132_|
## **14. Related party transactions**
A donation of £1,000 (2023: £Nil) was received from a trustee during the year. There were no other related party balances of transactions.
Page 14