REGISTERED CHARITY NUMBER: 282477
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
FOR
THE PURIE-HARWELL TRUST
Kingscott Dix (Cheltenham) Limited Chartered Accountants Malvern View Business Park Stella Way Bishops Cleeve Cheltenham Gloucestershire GL52 7DQ
THE PURIE-HARWELL TRUST
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 December 2021
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | ||
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Cash Flow Statement | 6 | ||
| Notes to the Cash Flow Statement | 7 | ||
| Notes to the Financial Statements | 8 | to | 11 |
| Detailed Statement of Financial Activities | 12 |
THE PURIE-HARWELL TRUST
REFERENCE AND ADMINISTRATIVE DETAILS for the Year Ended 31 December 2021
TRUSTEES
TRUSTEES Alexander John Scott Adrian Mark Locher Zerbanoo Gifford PRINCIPAL ADDRESS Gunn Mill House Spout Lane Mitcheldean Gloucestershire GL17 0EA REGISTERED CHARITY 282477 NUMBER INDEPENDENT EXAMINER Kingscott Dix (Cheltenham) Limited Chartered Accountants Malvern View Business Park Stella Way Bishops Cleeve Cheltenham Gloucestershire GL52 7DQ
Page 1
THE PURIE-HARWELL TRUST
REPORT OF THE TRUSTEES
for the Year Ended 31 December 2021
The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of 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 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the charity are to establish an institute for the education of young people and the promotion of good health.
Public benefit
In setting objectives and planning activities the Trustees have had regard to the guidance issued by the Charity Commission on public benefit in the running of the charity.
ACHIEVEMENT AND PERFORMANCE
During the year the charity received substantial legacy distributions from the estates of Mrs K Purie-Harwell and Mr J Harwell. These funds will be used to further the charity's objectives in the coming years.
FINANCIAL REVIEW
Investment policy and objectives
Trustees endeavour to hold sufficient liquid funds to pay for ongoing charitable activities, with any surplus being held for income generation.
Reserves policy
The charity maintains sufficient cash in its current account to meet its immediate expenses.
FUTURE PLANS
The Trustees are considering the possible strategies available to utilise the legacy donations received in the year. At the present time, the covid-19 pandemic is in effect, limiting the options that the charity can undertake. The charity is considering participating with the Asha Foundation in the establishment of an institute to promote the joint objects of both charities.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust dated 30 March 1981, and constitutes an unincorporated charity.
Organisational structure
The Trust is governed by the Trustees, who meet as often as necessary. Day to day operations are undertaken by Zerbanoo Gifford, who liaises directly and frequently with the other trustees.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. All significant activities are subject to risk review as part of the initial project assessment and implementation. The Trustees review the major risks that the charity faces on a regular basis and controls are established as appropriate.
Approved by order of the board of trustees on 9 March 2022 and signed on its behalf by:
Zerbanoo Gifford - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PURIE-HARWELL TRUST
Independent examiner's report to the trustees of The Purie-Harwell Trust
I report to the charity trustees on my examination of the accounts of The Purie-Harwell Trust (the Trust) for the year ended 31 December 2021.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants England and Wales which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
Robert Harris Institute of Chartered Accountants England and Wales Kingscott Dix (Cheltenham) Limited Chartered Accountants Malvern View Business Park Stella Way Bishops Cleeve Cheltenham Gloucestershire GL52 7DQ
9 March 2022
Page 3
THE PURIE-HARWELL TRUST
STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 31 December 2021
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 EXPENDITURE ON Other NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2021 Unrestricted fund £ 480,257 1,092 479,165 651,183 1,130,348 |
2020 Total funds £ 652,544 1,361 |
|---|---|---|
| 651,183 - |
||
| 651,183 |
The notes form part of these financial statements
Page 4
THE PURIE-HARWELL TRUST
BALANCE SHEET
31 December 2021
| Notes CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 6 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 7 Unrestricted funds TOTAL FUNDS |
2021 Unrestricted fund £ 1,131,450 (1,102) 1,130,348 1,130,348 1,130,348 1,130,348 1,130,348 |
2020 Total funds £ 652,273 (1,090) 651,183 651,183 651,183 651,183 651,183 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 9 March 2022 and were signed on its behalf by:
Zerbanoo Gifford - Trustee
The notes form part of these financial statements
Page 5
THE PURIE-HARWELL TRUST
CASH FLOW STATEMENT
for the Year Ended 31 December 2021
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by operating activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
2021 £ 479,177 479,177 479,177 652,273 1,131,450 |
2020 £ 652,273 |
|---|---|---|
| 652,273 | ||
| 652,273 - |
||
| 652,273 |
The notes form part of these financial statements
Page 6
THE PURIE-HARWELL TRUST
NOTES TO THE CASH FLOW STATEMENT for the Year Ended 31 December 2021
| 1. | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM | OPERATING ACTIVITIES | OPERATING ACTIVITIES |
|---|---|---|---|
| 2021 | 2020 | ||
| £ | £ | ||
| Net income for the reporting period (as per the Statement of Financial | |||
| Activities) | 479,165 | 651,183 | |
| Adjustments for: | |||
| Increase in creditors | 12 | 1,090 | |
| Net cash provided by operations | 479,177 | 652,273 | |
| 2. | ANALYSIS OF CHANGES IN NET FUNDS |
| Net cash Cash at bank Total |
At 1.1.21 £ 652,273 652,273 652,273 |
Cash flow £ 479,177 479,177 479,177 |
At 31.12.21 £ 1,131,450 |
|---|---|---|---|
| 1,131,450 | |||
| 1,131,450 |
The notes form part of these financial statements
Page 7
THE PURIE-HARWELL TRUST
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 December 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Critical accounting judgements and key sources of estimation uncertainty
No significant judgements or estimations have been used in preparing the financial statements.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Donations by will and proceeds of a matured investment policy | 480,257 | 652,544 |
During the year, legacy distributions were received from two Estates, the administration of which has not yet been completed.
continued...
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THE PURIE-HARWELL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2021
3. SUPPORT COSTS
| SUPPORT COSTS | |
|---|---|
| Finance | |
| £ | |
| Other resources expended | 1,092 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Other NET INCOME TOTAL FUNDS CARRIED FORWARD 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 7. MOVEMENT IN FUNDS At 1.1.21 £ Unrestricted funds General fund 651,183 TOTAL FUNDS 651,183 |
Unrestricted fund £ 652,544 1,361 651,183 651,183 2021 2020 £ £ 1,102 1,090 Net movement At in funds 31.12.21 £ £ 479,165 1,130,348 479,165 1,130,348 |
|---|---|
continued...
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THE PURIE-HARWELL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2021
7. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Incoming | Resources | Movement | |
|---|---|---|---|---|
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 480,257 | (1,092) | 479,165 | |
| TOTAL FUNDS | 480,257 | (1,092) | 479,165 | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement | At | |||
| At 1.1.20 | in funds | 31.12.20 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | - | 651,183 | 651,183 | |
| TOTAL FUNDS | - | 651,183 | 651,183 | |
| Comparative net movement in funds, included in the | above are as follows: | |||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 652,544 | (1,361) | 651,183 | |
| TOTAL FUNDS | 652,544 | (1,361) | 651,183 | |
| A current year 12 months and prior year 12 months combined position is as | follows: | |||
| Net | ||||
| movement | At | |||
| At 1.1.20 | in funds | 31.12.21 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | - | 1,130,348 | 1,130,348 | |
| TOTAL FUNDS | - | 1,130,348 | 1,130,348 |
continued...
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THE PURIE-HARWELL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2021
7. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 1,132,801 TOTAL FUNDS 1,132,801 |
Resources Movement expended in funds £ £ (2,453) 1,130,348 (2,453) 1,130,348 |
|---|---|
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2021.
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THE PURIE-HARWELL TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 31 December 2021
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 December 2021 |
|
|---|---|
| 2021 Unrestricted funds £ INCOME AND ENDOWMENTS Donations and legacies Donations by will and proceeds of a matured investment policy 480,257 Total incoming resources 480,257 EXPENDITURE Support costs Finance Sundries - Bank charges - Accountancy 1,092 1,092 Total resources expended 1,092 Net income 479,165 |
2020 Total funds £ 652,544 |
| 652,544 276 5 1,080 |
|
| 1,361 | |
| 1,361 | |
| 651,183 |
This page does not form part of the statutory financial statements
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