HERVEY BENHAM CHARrrABLE TRusr REGISTERED CHARrrY 110: 277578 ANNUAL REPORT FOR THE YEAR ENDED 28 FEBRUARY 2022 Tru#* rew)rt Indedent Examinerfs rert Statement of finanaal &iivil Baantr sheet 8-12 HERVEY BENHAM CHARITABLE TRUST
HERVEY BENHAM CHARrrABLE TRusr REFERENCE AND ADMINXSTRATIVE INFORMATION AS AT 28 FEBRUARY 2022 REGisfERED CHARITY NO: 277578 TRusfEES: M R Carr LLB TMAKerr A B Phllllps BEM &4 CertEd N Johnston D AW Alen 8 Mus., M Mus SCLan ((halmwn) TRUSTEES HOLDING TtrLE TO Thf PIiOPERTY ovll4ED BY THE CHARITY: M R Carr LLB A B Phllllps BEM BA CertEd TMAKerr CLERK TO THE TRusfEES: PGUY REGERED ADDRESS: CJO Sp3rllngs •• Essex Coi IHQ WE8srrE: BANKERS: The Royal Bank d sC(th pk 45 H&id Street •• C4F Bank Umlted Kings Hill MALUNG Kent ME19 4TA Essex Coi INW INDEPENDENT exAMINER: O M AJd*r4th FCC4 FMAAT 4 & 5 The Cedws, 12 ex12 irtswKti R COLCIIEsfER soucrroRS: Sp3rlings COLCHESTER E&sex Coi IHQ
HERVEY BENHAM CHARrrABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 28 FEBRUARY 2022 The Trlts pr their Rwt year aK1ed 28 fetary 2021 irK(ffwr4ting the referen and administratsve Inf0rr set out P•3e l. srRUCTURE GOVERIIANCE AND MANAGEMEiir The Trust was establisw by Trust 20 Febnwy 1978 the Benham d&idal to create a trst for tharrtab kxJrrK Under this Trust Deèj the FW to apymnt TTLtst, of whith there must be at least three, 15 vested in the Trustee5 fw the tr.me being. Up to 2014 all the Tnrn have the fOUreT Erally, whh has iwen a planned thantage to the Tn as tly have more pasity been able to respond at ttmes in way kj¥ HB have done,. as tr'me goe5 by this linkage Ltween Trustees and founder wll te more dffiajlt to malnlaln. The breadth of kn(w4kdge tetsyeen the Tru5fft5 over the Trt'S areas of t1Vty also neats to be malntalned. l¥j the year under remew the Trustees The prCSseS by vthkb the Tn 15 admini& and the aims and obiecve5 of the are met are set In a Mwment PrOtcl CmenL Thts also helps malntsln the IM[ant links for the Truthes th the irtsre5t and sympathy of the founder. The Marogement gtrotocol document Ls now supwrted by separate FlnarKial Contmls and a Pollcle5 crment 0)Vng 5uth areas as.. rf5k management, investments. pJnployl staff, vc4untsw manaen conflicts of interes( safeguardlng vulnerable benefidarle5. and cOalts haTrJling all (rf vlfith e revlewed annually as part of the Appllcatbns for grnnts are prwtssed ty the aerk to the Trustees, arKI dltsY by the Trustees at ttir meetir4Js Irwmalty quarterty). Four meetlws ¥e hdd during thL5 year, ar¥J the Trustees are pleasal to see the clgrant r•nain * a lthtl (ali see paragra 7 telow). OBJECThIES AND ACTIVITIES The al of the TnAst a. prnaty lyjt nrrt exdugvely, to support:. l Art&tic and culbjral athiues, whth tenefit the of Colthets ard the Beneficisl Area. 2 Indlvlduals wlth txxentlal arttstk tslent, acm55 the artforms, who are hdd back by physlcal or finarla1 dthntage or personal orcumstances. 3 The pre5ervaVon of the Induthl of COItt and the BeAldal together with the mantime traditK)n5 of the Essex o)bsL 4 The weservatkn of the kKal Nstw of Colthethr and the S Preservation enhar(erwt the and envlronmert rf Cokhester and the Benefal Area. These Ical Intere#s a suppNteJ by grdnts aThJ103rts from IroMe FWKI. AlEvENer4TS AND PERFORMANCE The totsl contn"buknon to the Tru5Ys ?Ams autfrthi in the year to 28th FebNary 2022 amounted to £56,150 45 5ummarised in )le 7.2 (2021: £23,570}. This comwtsed 7 gfants as detaikd in Note 7.1 (2021., 8 grants). Many appllotyons are rj frryn ¢rtsIde the bwfidal aw of the frx purpJses wthlth do not rrt into the above aims; these are repcytèj to the Trust arKI numbweAI 5 (2021: 3): in additi¢J) the Trust5 dediwy 3 applKabons mJJe in IJ yEar (2021: 3).
HERVEY BENHAM CHARTfABLE TRusr TRusfEES' REPORT. contlnued FOR TNE YEAR ENDED 28 FEBRUARY 2022 The attathed finarKial slatun {Page5 5 to 12) relled the Tn&s athltlas for the year ar thow the cunEnt state of the finan, vknKh ts TrLStees to be 9)und. Cath rewjjr to cover all grant cc¥nmitn 10. The Tr malntslrLS Its In (¥der to make grarts (x of Its 1rNeStm IrKome. 11.1 The investment pjly as Set at N(rte 3.1, has beM sucressfvlty IM ty the Tr durlng this year, wth an Income Yd the COMnK InstIrtht Fund wc¥Jucts of 2.62% (2021.. 2.779tl The overall Income yldd on Intrnents, IlA11n9 the cash dep? part of the wrtfolb, has bn adve5erly affethd kr• div5tknd paYrts (e to cOD and the low of Interest retums 4TrJ rne ¢Jrt at 2.3% (2021: 2.5%). 11.2 The Trustees mrJe rw) Ihw5 Inve51Jwrt p4rt rf the thb yew¥ and corrtINl wlth slmllar cash depc61ts. 11.3 ctyer the year U)è over&1 valuatlon COrnn Fld rycducts k£reased by 10,4% (2021: in(xeased ty 5.2%), agakst an trase FfsE IIJO of 15.4% (2021: fall of 1.5%). 11.4 The Tru5tee5 continue to be satislbj that thelr &YF¢wJre to ¢lsk Is redUd by the SFeJfic ccrfnmon invesbment wULts and thar thrrent sts3tY to apwoximatety 20% of the trAal Trusvs Investments In cash. That bakrKe stands at 15.4% at# end of thi5 year (2021.. 17.0%), INDEPENDENT EXAMINAfA¢)N 12. The trustees agre1 to (thi'rKE wlth an Ir Examination wcrfjld keep thLs undtr MieV. STATEMEpifs OF TRiISTEES' RESPONSIBILmes 13.1 CharFty law rlyulres the Trw<ees to prelwe flnandèl statements for flnandal year whlch glve a true and falr vl&¥ of the stste cl affaSrs fjwty for that year. In wepartng those flnanc6al Stslemts, the Trustees ao r•wIr1 to... ' sele£t 9JItae cOunti1j arhj apF4y t1 ' make htdgwnents and eStIr th are rea9ble a1 WLth; ' prepare firondal staternrts the gc4rvJ (xrfKem ba5 unkn It Is Impwoprfate to assume that tr Charty WNI nue In 13.2 The Trusttts are keIj COuntsrvj r&(Kts whKh d19Jose with rea9)nae accury at any Vme the flnandal the (rIty aThJ enabk them to ersure that the fvndal statements compty wth the charfj Plt 2011. are aLw resrththe for uarding the or other 1rUlarle$. 13.3 The Trustees have W regar(I to the Charfty O)rrrfnlth¥ guldèn on wbll¢ ter*fft bvhen revleYAng Ihelr grant makOrwJ acVItIeS In puryJarKe of the alrrs of the Trust on behalf of the Tru5tee5 M R Carr {Chaimkin)
HERVEY BENHAM CHARrrABLE TR(IST INDEPENDENT EXAMINER'S REPORT TO THE TRusfEES I rep)rt on the Kojunts of the tharity for the yffir 28 Febry 2022 v4hith are set ¢Mtt on pages 5 to 12. Re5ponslbllltles and bJ5i5 rf rewt As the tharivs trustees a re5rble for the wq)aratlon of the (nts in accordan with the requirements of the Charthes 2011 Cthe . I report in respect of my examination the char$ &cwnts wieAI out under sectlon 145 cl the Act and In carrylng out my examlnathjn I e fONOw all tr èwlkable gfvw by the IrIty Commlsslon under Section 145(5)(b) c¢ ACL Independent wimlnerfs I have complebj my examlnation. l offirni that rKJ m&erlal mattws have c(#ne to my attentkn In connectlon wlth the examlnatlcm gmrwj cause to that tn any matyial rest. l. acrountlrvj rKt kert In rwct of the dwity as Uired ty sedion 130 rf the A¢. or 3. the accounts do Th)t compty wlth the applkable requirements conceming the form and COnt of afxounts set ¢)Jt In the Charities {A£ctJJnts and ReF#yts) R•JuUItNYL$ I8 othér than any requirement that ts aCcnts give a and fair VI, whkh L8 r#)t a matter consldered as part of an iThkpetht examlnatlon . I have no concems and ha ccffie acmss ts) C¢her matters h CCA)rth wtth the examlnatlon to whlth attentlon shcAJld t drawn In thls rwt In ¢xdw to woble a wr4)er urKlw*andlro of the accounts to be reached. D M Aldworth FCCA FP4iAT 4&5 The Cadars Apex 12 Old Ipswith Road Colchester C07 7QR
HERVEY BENHAM CHARrrABLE TRiisr srATEMEKf OF FINA14CIAL AcrivrrIES YEAR ENDED 28 FEBRUARY 2022 Total Fund# 2022 Total Futh 2021 Investments Charltable actitieS Book Income rVe Grants repaid Totsl Income 13 33,458 33,458 33,196 52 1,213 52 1,213 7J 33,196 Expendlture on: Charitsble athiknes Grants authodsoj In year Management of propty asset SupFQrt costs Total expendlture 56,150 3,570 7.231 66,951 56,150 3,570 23,570 4,475 6,553 34.598 66,951 Net galnl(10sses) on Invesbmts 32 113,425 113,425 63,8n Net Incom•l{expwmllrn) (32,228) 113,425 81,197 62,470 18,CKKI (14,228) 95.425 81,197 62.470 Rowndllakn of funds: Totsl funds br¢ht forward 14,646 1,533,273 1,547,919 1.485,449 Total fvnds carrfed folward 418 £ 1,628,698 £ 1,629,116 1,$47,919 ContlnulTrJ opeRt6or6- all IrKomlng resoUe5 arnl regxwces exFeKled dexfve from ccrtlnulro artlvltles. Total recognlsal gairts and losses. the SOFA indiths dl galns losses recogiisèj in these year& No restricted funds Yre opuatsj duriNJ this yea. The Tr)tes on pages 8 to 12 forni Fort of the financial statem
HERVEY BENHAM CHARrrABLE TRusr BALANCE SHEEr AS AT 28 FEBRUARY 2022 Fund# 2022 Fund• 2011 FIXED ASSErs Tangible assets . freew 200,000 1,424,616 254 1,624A70 200,¢J(10 1,31S,317 254 1,515,571 1,424,616 Pr(yJramm&relal Investm 254 254 1,624,616 CURRENT ASSErs Sundry debtors Cash at Bank 9,351 55,315 9,351 59.397 68,748 9.469 52,765 62,234 4.082 4,082 CURREpif LIA8ILfTIES Sundry credito NEf CURREKf ASSEfsi(LIABILmES) 50,502 50.502 20,886 14,164 4,082 1,628,698 18,246 41,348 14,418 1,643,116 1.556,919 DEFERRED LZABILMES due after more than r TOTAL NEf ASSErs 73 418 £ 1,628,698 £ 1,629,116 E 1,547,919 THE FUNDS OF THE CHARITY UnrestrIc InccffE funds 418 £ 1.628,698 £ 1,629,116 1.547,919 Approval by the on .... i.{.: 2J¥ and signed on thor behalf by M R Carr The notes on pages 8 to 12 fijnn part of flnandal statejw
HERVEY BENHAM CHARITABLE TRLisr srATEMENT OF CASH FLOWS YEAR ENDED 28 FEBRUARY 2022 TOTAL TOTAL Fund$ 2022 F18 2021 Cash flows from operntlng a¢tMtles: Net cash (used in) ¢)perating *iwtses (30,952) 131,017) Cash flows from Investlng a¢ll¥ltlu: Investment income Decreasel(increase) In cash In¥e51me 33,458 4,125 E37,583 33,196 16571 32,539 Change In cuh and cash ¢qulv•lents In the rePIng pwlod 6,631 1,522 Reconclllatlon of cash and cash equlva1¢n. Totsl brought forward 77,765 76.243 Totsl carrled forward £84.396 £77.765 NOTES Net cash provlded by (used In) operatlng actlvltle5 Net income/(expenditiJre) for the reporting pertcd (Page 5) Adjustments f(Y". Investment Irft (Increase) IdeLrease in Investnts (un11} (Incwse)Idecrease In debtors 1e05e/(decr} in 81,197 62,470 (33,458) (113,425) 118 133,1961 I,872? 704 2,877 £131,017) É(30,952) Analysls of cash and osh equlvaluts Bank balan. 12,318 47,078 13JlQ 39,455 CAF Bank Ncce detK6its (less than 3 CAF 60 Day Account {wth Oarti 25,000 £84.396 25,000 £77,765
HERVEf BENHAM CHARrrABLE TRUST NOTES TO THE FINANCIAL sfATEMEI(r5 YEAR ENDED 28 FEBRUARY 2022 ACCOUNTING POUCIES The finarKk?1 statemg)ts have prepared Ihe historic cost Ct)nNEntion, aTrJ in wtth FRS 102 Tr Finncial RewbrwJ StaThJard a&able in UK arkl the Republk of Ireland., and the Ststumt of Rec(1 p.. arnl RqyJUtMJ 'Qianti SORP 2019 (FRS 102)", arKI the Ctstltfjes kt 2011. Benlwm ChaTitat4e Trst nets the dthltlon d a pubHc benefft • undw FRS 102. The pwticukir accourrtlrwJ a(WwJ are as folkn¥s: (a) Funds gtrwtyre Where dcnots impxe a restrktKffl on thdr thnauon mty be wend&l. sutt¢ experKllre IrKJ wlthln the objects of the tharlty. thr oyla1 are to a warate Restrfotsj F. All ¢Jts Income ts cruLted to Unrestrlcted F15 to be e¥pathl at the Tnjts, dlxretlon. (b) Incomlng rtJource• JI inc(nirvJ re50wces are rnIseA1 the tharty h3s wutlement to the resour and morthry Val of IrKomlng reyjurces can be meawral wth sllrffiat ollablllty. (c) R••wrc•i PU1• LIats'1e5 a r(jn1Sed as reYrS e¥ as s(Ji as th¥e 6 a legal or obNgation ccthmlttlng charlty to the endre. M eXtsJre 15 £t¥ted for on an accvAs baS arhy has I)e da551 ur&r hellrvJs that aggrgjate all costs rel3tèJ to that category, (knts payable are paynwts m to thlrd partks in the furthewfft of the thar4tsble obJ&Uves of the thwity. &r#Jle or mLdti-year grdnts are axnted for when the plent has a reasonable ¢knmano o)sts comwtse cc6ts asscdated 1th the c(Jtl0nal and ststutory reqUIrnents of the olarity. ard IrKtLKle a the runun¥ats. (d) Tnglbl• fixad •sJets and dtyveda In aCCcdan with FRS 102, fixed asset investmemt wo&vYes be #ateAI at maret value, wlth provlslon made fty deprniakn. Hov•eNv In the VI oftr Tnjstees the cost cl obtaining A herftsge asset from the fnd&S gJCCer flryn. compri4ng a (early Rblard Stone) of the Benham, IS Th)t capnalised as. In the VI of Trustee5, the o)st of vaEuaOm Wld LE On compared to the benefit. This pthit is cffl loan to Theatre Arts £Uon Trust for dsplay at The Fadgate TPatre in Cokl, whlth this Tn& help&1 to 1 (e) Investrnts Inveslrnents are Sta at market vue, based (m the mkl at date of the balan sw ljl rreMts in Val sh(vm In the &atemert of Fknarthl fv£Yvltle5. (fj Taxat The is a drity knIn the meanlThJ of Sedjon 5CqI) of Taxes PLt 1988. Accordingty Triist is Ffrtenb"ally exemFt from tsxation Trn rewt of income or opltal gair ItTO¥Wab1e VAT & tharyed ¥rst the 291 of re9)ur for vthith tt was tIrred. (g) Golno Conc• The finarKial statemeFts kne tten wred on a gokvJ (nrrnn b$ as the tnJstee5 believe no mtsial uncth3inties EA. The trustees th C(Y6WJer the fijnds held and the Ie1 of income expenditure for 12 rThJntrs from athising these finanoal statements. The tr#Jdgeted Ino)me aTrJ ewdotU is with the l•*1 rf re5me5 the tharlty to be able to conts.nue as a golng concem.
NOTES TO THE FINANCIAL STATEMEiifs. contlntsed
YEAR ENDED 28 FEBRUARY 2022
frcffi Bme. ork ¢the rAigwwl three in FetsLWy 1978. The is TOrthd
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HERVEY BENHAM CHARrrABLE TRUST io NOTES TO THE FINANCIAL sfATEMEp¥fs- continued YEAR ENDED 28 FEBRUARY 2022 7 GRArirs 7.1 The grants authorised in the year sup[rted and conthbLrted tr) the folknyiry proj o¥w the Tnjsvs fwr areas:. ••n•fi¢l•tl•• Vl(ior Batte Lay Founda . We 24,000 3,000 1,500 21,000 49.500 14.9 Gra1 Theatre of LemmlrvJs . EK•¥M oJ• The Headgats Theatre. New L (b) Individuals part[laTIV thom wlth potffitlal artlstk talent fter School aub . Ilt¥aLy kyogramme Instrument purchase 2,000 1,500 3,500 5,670 IL121 (c) Preservatlon of Cold & Dl•trlrts h•rlt•g• 12021 (d) Local hlitory and Conser0 •ffe¢tlng hftage and envwonmtnt of the area 3,150 Total grants for y•nr £ 56,150 23,570 7.2 These grarts re for the benefft OF. 2022 KINiduals 6,650 131 (YganlsatK6 49,5(KI {4] £ 56 150 [7J XJ21 5,670 121 17,9)0 161 £ 23,570 18] 7.3 This year no gra)ts were withdrawm that hal t*en commitw. Nrte 7iscrnUnualon Page JI
HERVEY BENHAM CHARrrABLE TRusr 12 NOTES TO THE FINANCIAL sfATEMENT5 - continued YEAR ENDED 28 FEBRUARY 2022 2022 2021 9 BOOK INCOME RECEIVED Public Lending .ghts: HWG knham sa of books.. "Life Wrth The LLKals' Sale of books (ERO): 'Essex Gold" 'A F*ospert of Maldon. 52 52 £