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2020-09-30-accounts

THE WHYTELEAFE CHARITABLE TRUST ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2020

THE WHYTELEAFE CHARITABLE TRUST ACCOUNTS FOR THE YEAR ENDED 30TH SEPTEMBER 2020

CONTENTS

Page(s)
Trustees' annual report 1 - 3
Independent Examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the accounts 7 - 10

THE WHYTELEAFE CHARITABLE TRUST ACCOUNTS FOR THE YEAR ENDED 30TH SEPTEMBER 2020

TRUSTEES' ANNUAL REPORT

The Trustees have pleasure in submitting their Annual Report and Financial Statements for the year ended 30th September 2020.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016).

Reference and administrative details

Registered Charity
number: 287183
Principal Office: Rathbone Trust Company Limited, Port of Liverpool Building, Pier Head, Liverpool
L3 1NW
Trustees who served W M C Stileman Esq
during the year: Mrs R K Stileman
Appointor Brigadier D M Stileman OBE. Deceased
Accountancy: Rathbone Trust Company Limited, Port of Liverpool Building, Pier Head, Liverpool
L3 1NW
Independent K Clayton C/o Port of Liverpool Building, Pier Head, Liverpool, L3 1NW
Examiner:

Structure, governance and management

This Charitable Trust was made by Brigadier David Madryll Stileman, OBE by deed dated 25 March 1983. Its governing body are the board of trustees.

The Trustees hold the income and capital of the fund to be used for such charitable purposes as they in their absolute discretion think fit. The income generated from the capital of the fund must be distributed as such, following the accumulation period ending on 25 March 2004.

Risk Management:

The risks to which the Charity is exposed have been considered by the trustees. The trustees are satisfied that steps have been taken to mitigate these and will continue to review the position on a regular basis.

Page 1

THE WHYTELEAFE CHARITABLE TRUST ACCOUNTS FOR THE YEAR ENDED 30TH SEPTEMBER 2020

TRUSTEES' ANNUAL REPORT

Objectives and activities

The Trustees hold Unrestricted Funds for Public Benefit from which donations are made to charitable bodies and for such wholly charitable purposes as they in their absolute discretion think fit.

Achievements and performance

During the year the trustees resolved to make donations which are detailed in the notes to these Accounts.

The trustees have complied with the duty in S17(5) Charities Act 2011 and have had due regard to guidance on Public Benefit issued by the Charity Commission when exercising relevant powers.

Financial review and results for the year

Total income from donations, Gift Aid and interest for the year was £26,250 (£25,029 in 2019) of which £22,250 (£2,000 in 2019) was applied towards wholly charitable purposes.

After expenses, there was a net increase in funds during the year of £2,410 (£22,189 increase in 2019).

As at the financial year end, the trustees held £50,002 of Unrestricted Funds (£47,593 held 2019), which was mainly represented by cash.

Reserves:

The Trustees regularly make donations throughout each financial year and consider all funds held to be free reserves. Fund levels are continually reviewed by the Trustees and at present the charity has no long-term commitments. Accordingly, the Trustees are satisfied they have sufficient funds available to meet with the Charity's objectives.

Plans for the future

The Trustees will continue to consider making donations at their discretion.

Trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and 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 and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period and its financial position at the end of the year. In preparing the financial statements the trustees are required to:

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THE WHYTELEAFE CHARITABLE TRUST ACCOUNTS FOR THE YEAR ENDED 30TH SEPTEMBER 2020

TRUSTEES' ANNUAL REPORT

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.

As approved by the Board of Trustees on …24 July ………...………………. 2021

.................................................... W M C Stileman Esq

.................................................... Mrs R K Stileman

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THE WHYTELEAFE CHARITABLE TRUST ACCOUNTS FOR THE YEAR ENDED 30TH SEPTEMBER 2020

INDEPENDENT EXAMINER'S REPORT

Independent examiner's report to the Trustees of the Whyteleafe Charitable Trust - charity number 287183.

I report on my examination of the accounts of the above charity ("the Trust") for the year ended 30th September 2020, which are set out on pages 5 to 10.

Responsibilities and basis of report

As the charity's trustees, 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 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I am a member of an approved body subject to the provisions of the Revised Ethical Standard 2019 issued by the Financial Reporting Council (FRC). Rathbone Trust Company has provided book keeping services in accordance with the terms of engagement signed by the Trustees and I do not report to the book-keeper in any respect. I give due consideration to the FRC's Revised Ethical Standard 2019 at all times.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in any material respect:

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.

30 July 2021 Kerry Clayton TEP MAAT MCSI Date Port of Liverpool Building, Pier Head, Liverpool

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THE WHYTELEAFE CHARITABLE TRUST ACCOUNTS FOR THE YEAR ENDED 30TH SEPTEMBER 2020

STATEMENT OF FINANCIAL ACTIVITIES

----- Start of picture text -----
All funds All funds
Unrestricted Unrestricted
Total Total
2020 2019
Notes £ £
Income
Donations & legacies 3 26,250.00 25,000.00
Interest 0.00 28.56
Total Income 26,250.00 25,028.56
Expenditure
Charitable activities 4 23,840.50 2,840.00
Total Expenditure 23,840.50 2,840.00
Net movement in funds 2,409.50 22,188.56
Reconciliation of funds:
Total funds as at 1st October 2019 47,592.65 25,404.09
Net movement in funds 2,409.50 22,188.56
Total funds as at 30th September 2020 50,002.15 47,592.65
----- End of picture text -----

Page 5

THE WHYTELEAFE CHARITABLE TRUST ACCOUNTS FOR THE YEAR ENDED 30TH SEPTEMBER 2020

BALANCE SHEET

BALANCE SHEET
Current Assets
Debtor
Cash at bank		 Notes
6		 All funds
All funds
Unrestricted
Unrestricted
Total
Total
2020
2019
£
10,250.00
5,000.00
41,312.15
43,864.65
Total Current Assets
Liabilities: amounts falling due within
one year		 7 51,562.15
48,864.65
1,560.00
1,272.00
Net Current Assets 50,002.15
47,592.65
Net Assets as at 30th September 2020 50,002.15
47,592.65
Represented by:
Total Unrestricted Funds as at 30th September 2020 50,002.15
47,592.65
As approved and signed by the Board of Trustees on……....24 July ...…………………………..2021
.................................................... ....................................................
W M C Stileman Esq Mrs R K Stileman

Page 6

THE WHYTELEAFE CHARITABLE TRUST ACCOUNTS FOR THE YEAR ENDED 30TH SEPTEMBER 2020

NOTES TO THE ACCOUNTS

1 Accounting Policies

The Whyteleafe Charitable Trust is a Public Benefit Entity governed by a Settlement Deed dated 25 March 1983. The principal address is c/o Rathbone Trust Company, Port of Liverpool Building, Pier Head, Liverpool, L3 1NW.

Accounting Convention

These accounts have been prepared in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), Accounting and Reporting by Charities the Statement of Recommended Practice for charities applying FRS102, the Charities Act 2011 and UK Generally Accepted Accounting Practice as it applies from 1 January 2016.

The charity is a Public Benefit Entity as defined by FRS 102.

The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared on the historical cost convention, modified to include the revaluation of investments at fair value. The principal accounting policies adopted are set out below.

The charity has taken advantage of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

Going Concern

At the time of approving the accounts, the Trustees have a reasonable expectation that charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the 'going concern' basis of accounting in preparing the accounts.

Charitable Funds

Unrestricted funds are available for use at the discretion of the charity in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income Tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Expenditure

Expenditure is recognised when paid or when there is a legal or constructive obligation for which it is more likely than not that a transfer of economic benefit will be required in settlement and the amount can be reliably measured as at the reporting date. A constructive obligation exists where the charity has communicated the commitment to provide particular funding to the recipient by the reporting date and there are no conditions attached to its payment falling due after the reporting date.

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THE WHYTELEAFE CHARITABLE TRUST ACCOUNTS FOR THE YEAR ENDED 30TH SEPTEMBER 2020

NOTES TO THE ACCOUNTS

Amounts included within governance costs are those incurred in relation to the general running of the Charity and support it requires. They are not related to the direct management function.

Provisions for liabilities must be recognised when either the timing or the amount of future expenditure required to settle the obligation is uncertain. These are distinguished separately on the balance sheet. If a transfer of resources is no longer required, provisions are reversed and charged to the SoFA.

Taxation

The charity is not liable to income or capital gains tax on its charitable activities. Irrecoverable VAT is included in the asset cost or the expense to which it relates.

Cash at bank and in hand is held to meet short-term cash commitments as they fall due rather than for investment purposes. Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial Instruments

The Charity has elected to apply the provisions of S11 'Basic Financial Instruments' and S12 Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity’s balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at at transaction price. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Cancellation of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

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THE WHYTELEAFE CHARITABLE TRUST ACCOUNTS FOR THE YEAR ENDED 30TH SEPTEMBER 2020

NOTES TO THE ACCOUNTS

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Donations and legacies
Mr D H Cremer
A Stileman
Gift Aid receivable
4
Charitable activities
Grant making to Institutions:
AID for Relief and Change Ltd (Registered Charity no 1138664)
Crosslinks
St Mary's Maidenhead
Sabba Movement
Tearfund
Yeldall Manor
Bodmin Community Church
SIM International (UK) (Registered Charity no 219763)
DEC Cyclone Idai Appeal
CPAS
Church Mission Society
Mercy Ships
Crosslinks
Impact Giving (UK)
University of Oxford
Total Grants
Office expenses
Governance Costs (note 5)
5
Governance costs
Accountancy, compliance and advisory fees
Independent Examination fee
Taxation fee		 2020
£
20,000.00
1,000.00
5,250.00
26,250.00
2020
£
1000.00
1,000.00
5,000.00
2,500.00
500.00
2,000.00
2,000.00
1,750.00
0.00
1,000.00
1,000.00
1,000.00
1,000.00
2,000.00
500.00
22,250.00
30.50
1,560.00
23,840.50
2020
£
1,200.00
360.00
0.00
1,560.00		 2019
£
20,000.00
0.00
5,000.00
25,000.00
2019
£
0.00
0.00
0.00
0.00
0.00
0.00
0.00
1,000.00
1,000.00
0.00
0.00
0.00
0.00
0.00
0.00
2,000.00
0.00
840.00
2,840.00
2019
£
480.00
120.00
240.00
840.00

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THE WHYTELEAFE CHARITABLE TRUST ACCOUNTS FOR THE YEAR ENDED 30TH SEPTEMBER 2020

NOTES TO THE ACCOUNTS

6
Debtor
HM Revenue & Customs - Gift Aid
7
Current liabilities
Creditors and accruals		 2020
£
10,250.00
10,250.00
2020
£
1,560.00
1,560.00		 2019
£
5,000.00
5,000.00
2019
£
1,272.00
1,272.00

8 Details of certain items of expenditure

No amounts were paid to the Trustees during the year ended 30th September 2020 or the previous year.

9
Financial Instruments
Carrying amount of financial assets
Debt instruments receivable within one year
- Cash
Carrying amount of financial liabilities
Payable within one year
- Creditors		 2020
£
41,312.15
1,560.00		 2019
£
43,864.65
1,272.00

10 Related Party Transactions

The trustees have considered personal or other interests in which as a result of a decision made an individual may benefit financially or otherwise, either directly or indirectly. In order to comply with their duties the trustees confirm the person affected does not take part in any discussions relating to the issue concerned other than to clarify facts.

No transactions require disclosure in respect of the year ended 30th September 2020 or the previous year.

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