REGISTERED CHARITY NUMBER: 288220 (England and Wales)
ANNUAL REPORT FOR THE YEAR ENDED5 APRIL 2022
FOR
A & S Graham Charitable Trust
GBJ Financial Limited Sterling House 27 Hatchlands Road Redhill Surrey RH1 6RW
A & S GRAHAM CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2022 Deeeeeee The trustees present their report for the year ended 5 April 2022. The financial statements have been prepared in accordance with the accounting policies set out In note 1 fo the accounts and comply with the charity's trust deed, 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 published on 16 July 2014 (FRS 102)
TRUSTEES
The trustees during the year under review were:
Mrs S G Graham Mr A B Graham Mrs N S Boucai Mrs E J Haguenauer Miss L D Graham
PRINCIPAL ADRESS 10 Mulberry Walk London SW3 6DY
STURCTURE, GOVERNANCE AND MANAGEMENT
The charity is controlled by its governing document, a deed of trust, and constitutes and unincorporated charity.
The Trust was formed by Trust Deed dated 18" October 1983,
FINANCIAL REVIEW AND PERFORMANCE REPORT
As a general rule, the Trustees apply the income derived from the investments and donations received, in furtherance of the Trust's main objectives as it arises on an annual basis. Donations are made al the discretion of the Trustees at appropriate levels in view of the fact that the Trust does not have any olher sources of funding. The Trust exists to make danalions at the sole discretion of the Trustees During the year, income of £60,482 (2021: £72,222) was received,
The trustees have wide investment powers which include the power to purchase real or personal property and investments.
They also have the power {fo effect and sale, lease, mortgage, charge. release, purchase, investment acquisition, expenditure or other transaction which a person absolutely and beneficially entitled would have power to effect,
In the coming year the Trust will continue to provide chantable support in accordance with Its objectives.
Approved and signed on behalf by:
Ad UL. 25]01|z0e3 Mr A B Graham - Trustee Date:
Saee es Page |
A & S GRAHAM CHARITABLE TRUST
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2022
We report on the accounts of the Charitable Trust for the year ended 05 April 2022, which are set out on pages 4-7.
Respective responsibilities of Trustees and Examiners
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is our responsibility to:
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e Examine the accounts under section 145 of the 2011 Act e Follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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State whether particular matters have come to our attention.
Basis of Independent Examiners’ Report
Our examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required 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 statements below.
Independent Examiners’ Statement
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1) Which gives us reasonable cause to believe that, in any material respect, the requirements - to keep accounting records in accordance with section 130 of the 2011 Act; and - to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
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have not been met; or
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2) to which,in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
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LG? Z25/o1/Z023,
GBJ LLP Date:
Chartered Accountants 27 Hatchlands Road
Independent Examiners Redhill
RH1 6RW
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Page 2
A & S GRAHAM CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2022
| 2022 | 2021 | ||
|---|---|---|---|
| Notes | £ | £ | |
| INCOME AND ENDOWNMENTS FROM | |||
| Donations and legacies | - | - | |
| Investments | 2 | 60,482 | 72,222 |
| Total | 60,482 | 72,222 | |
| EXPENDITURE ON | |||
| Raising funds | 3 | 40,243 | 31,689 |
| Charitable activities | 4 | 13,825 | 23,405 |
| Total | 54,068 | 55,094 | |
| NET INCOME/(EXPENDITURE) DURING | |||
| THE YEAR | 6,413 | 17,128 | |
| TOTAL FUNDS CARRIED FORWARD | |||
| AT6APRIL 2021 | 362,544 | 345,416 | |
| AT5APRIL2022 | 368,957 | 362,544 |
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A& S GRAHAM CHARITABLE TRUST
BALANCE SHEET
& APRIL 2022
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||||||
|---|---|---|---|---|
|Notes|2022|2021|
|£|£|
|FIXED ASSETS|
|Investment property|6|660,000|660,000|
|CURRENT ASSTES|
|Debtors|7|37,755|38.650|
|Cash at bank|14,460|61,329|
|52,214|99,979|
|CURRENT LIABILITIES|
|Amounts falling dus within one year|8|(81,322)|(113,899)|
|NET|CURRENT ASSETSMLIABILITIES}|(29,108)|(13,920)|
|NON CURRENT LIABILITIES|
|Amounts|falling due more than one year|9|(261,936)|(282,536)|
|NET ASSETS|368,957|362,544|
|FUNDS|
|Unrestricted funds|10|368,957|362,544|
|368,957|362,544|
|These financial statements were approved|>|
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These financial statements were approved by the Trustees on 23/01)> 2023
Signed by the Trustees:
Ad Gahen To
The notes form part of these financial statements
Page 4
A & S GRAHAM CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements The accounts have been prepared in accordance with parts 2 to 4 of the Statement of Recommended Practise: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) published on 16 July 2014, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. The Charity has taken advantage of the of the exemption in “Bulletin 1: Amendments to Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland from the requirement to produce a cash flow statement on the grounds that it is a small charity.
In preparing the accounts the Trustees have considered whether in applying the accounting policies required by FRS102 and the Charities SORP FRS102 a restatement of comparative items was needed. No restatement was required.
Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and that the amount of income 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 the settlement will be required, and the amount of the obligation can be measured reliably.
VAT
The charity is not recognised for VAT purposes and all expenses are inclusive of irrecoverable VAT where applicable.
Taxation
The charity is exempt from tax on its charitable activities.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Financial Instruments
The charity has financial assets and financial liabilities of a kind that qualifies as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
2:
INVESTMENTS
| INVESTMENTS | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Rents received | 60,482 | 72,222 |
| Deposit account interest | - | - |
| 60,482 | 72,222 |
Page 5
A & S GRAHAM CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 5 APRIL 2022
3. RAISING FUNDS
| 3. | RAISING FUNDS | ||
|---|---|---|---|
| 2022 | 2021 | ||
| £ | £ | ||
| Portfolio management | 5,164 | 4,674 | |
| Legal and professional fees | 18,548 | 12,435 | |
| Rent | 1,020 | - | |
| Insurance | 155 | 648 | |
| Interest payable and similar charges | 9,946 | 9,350 | |
| Accountancy | 2,920 | 2,371 | |
| Bank charges | 26 | 99 | |
| Secretarial and administration | 2,464 | 2,112 | |
| 40,243 | 31,689 | ||
| 4. | CHARITABLE ACTIVITIES | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Grantstoinstitutions | 60,482 | 23,405 |
5: TRUSTEES’ REMUNERATION AND BENEFITS There were no trustees’ remuneration, other benefits or expenses paid for the year ended 5 April 2022 nor for the year ended 5 April 2021.
6. INVESTMENT PROPERTY
| 6. | INVESTMENT PROPERTY | ||
|---|---|---|---|
| 2022 | 2021 | ||
| £ | £ | ||
| Market Value at 5 April 2022 and 2021 | 660,000 | 660,000 | |
| 7. | CURRENT ASSETS | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Cash balances | 14,460 | 61,329 | |
| Trade debtors | 37,755 | 38,650 | |
| §2,214 | 99,979 | ||
| 8. | CURRENT LIABILITIES | ||
| 2022 | 2021 | ||
| £ | a | ||
| Other creditors | 52,530 | 94,295 | |
| Bank loans and overdraft | 28,792 | 19,604 | |
| 81,322 | 113,899 |
Page 6
A & S GRAHAM CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 5 APRIL 2022
| 9. | NON CURRENT LIABILITIES | ||
|---|---|---|---|
| 2022 | 2021 | ||
| £ | £ | ||
| Bank loans and overdraft | 261,935 | 283,536 | |
| 261,935 | 283,536 | ||
| 10. | MOVEMENT IN FUNDS | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Unrestricted funds | |||
| General funds | 362,544 | 345,416 | |
| Net movement in funds | 6,413 | 17,128 | |
| Total funds | 368,957 | 362,544 | |
| 11. | SECURED DEBTS | ||
| 2022 | 2021 | ||
| £ | £ | ||
| The following secured debts are included within creditors: | |||
| BankLoans | 272,000 | 280,640 |
The loans are secured against leasehold investment property. The total loan is approximately 40% of the value of the investment property. The loan is repayable in quarterly instalment of £ 6,000, at a rate of 3.25% above base rate and the other repayable in full at final repayment date.
- RELATED PARTY DISCLOSURES
Included in other creditors is a balance of £25,759 (2021:£63,599) which is owed to Mrs S G Graham and Mr A B Graham Trustees of this Charity.
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