REGISTKRED CHARtTV J¥UMBER: 29(1736 RV.PORTOF THETRUSTEES AND NA DITED INANCIAL STATEMLNTS FOR THFYE R ENDTr.D5 PRIL 2024 TFIF. E MACANDRF.W TR ST Martin and Company Two Brewers House 50 North Street Oxfordshire OX9 3BH
THE E M MACANDREW TRUST COIYTEf4TS OFTllb. TrINANCIAI.STATF.MV,NI FOR I-IIE YTr,AR Lf*DTr'D S RIL 2024 PAge Reftvente Athd Admlnl8¢rothfe Detslls Report of Ihe Tru8tV8 Independ¢nt Exarnlner'i Report si#temetht of Activltl¢J Balgnee Sheet to the FINanel81 Statements 7 to I I DetAll¢d Sl•t¢rn¢nt of Flnin¢lal A¢tlvltl 12
THE b M MACANDREWTRusr REFFRENCE AND ADMINISTRATIVF. DF.TAIiS FORI'IIE YEAR ENDF.D 5 APRII. 2024 TRUSTELS Mrs A R Ni¢holson Mr5 S Grant J K Nicholson Ms V E Nicholso PRINCIPAL ADDRESS AdJtoGkfields Fami House Adstockficlds Adstock Buckingham Buckitlghamshi MK18 2JE REGISTERED CHAIUTY NUMBER 290736 INDEPENDENT EXAMINER Martin and Compony Two Brewers House 50 North Slrect Thame Oxford5hire OX93BH BANKERS C Hoare & Co 37 Flrcl Street London EC494DQ INVESTMENT MANAGERS M&G Investments 10 Fenchwch Avenue L(Trndon EC.IM 5A0 Page I
THF. E M MACANDREW TRUST REPORT OF THE TRUSTEF.S FOR TIIL YEAR ENDED 5 APRIL2024 The trustees prcseni their report with th¢ finanrial statement5 of the Gharity for the year ended 5 April 2024. The irustees have adopted th¢ provision5 of A¢countirtg and Reporting by Charities.. Statement of R¢comm¢nded Practice applicable to ¢hariiie8 preparing their accounts in accordanre rhe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 leffeaive l January 2019). OBJECTIVLS AND ACTIVITIES ObJettlvt5 li The ¢harity was cstablished unde¥ a T)e¢lar81ion of Tn]st by Mrs F.ileeth May MocAndrew on 1st November 1984 under the registered ¢harity number 290736. The TTUSi was esiablished by a gift from Mrs Eil¢en May Ma¢Andrew. The Trust doe5 not activety fund rglise and seeks Lo continue with ihe principal objeetive of applying ils Iome for the b¢th¢fit of such chaTit&blc instiluli0TrS or purposes as Ihe Irusi¢es rnay deride. Publlc bentfit 'rh¢ Trustees confirrn that they have Mplied with the duty In scction 17 of the Ch&rilies A¢t 201 l and have tsken ccount of th¢ Commi55ion'5 8encral uuidance on public benefit. AC.HILVKMF.NT AND PERFORMANCE ChiYltAble %ctlvltks During Ihc ycar Ihc lollowing donalion8 were paid.. Chirlty Action 4 Youth Age UK Alzheim¢r's S4xiety Anne Ri)bson Trusi Aulism Early Support Bulks A5so¢iation lur thc Carc ofoii¢nders Ciiiz¥ns Adviee Buckingham5hirc Ltd ContteLtion Support Fann Africa Fighi For Si%ht K8tharinc Hous¢ HospirK Tn1 Ma¢lntyTe CaTC Med¢cins Suns Fronlicru Miltun Keynes Community Fowidativn Limitcd Padbury Prc-school PArkinson's Diseuse Society ot'th¥ UK Seanappcal Te¢na¥e Cancer Trust Thames Voll¢y Air Ambulance The PlaLe Crntrc Ltd Will¢n Hospice12 separate 8rants) Youth Concern 2,0(X) 1.000 2.UOU 1,000 2,000 2.000 2.000 1.000 I,Doo I,0) 1,000 2,000 4.000 2.000 2,000 1,00 1,000 1.000 1,000 2,000 1.500 I,ouo TotAI 39,500 FIT4AT4CIAL REVIF,W Finahclil posi¢ion Th¢ net surplu5 of income after grants and operational expenses for th¢ yeAr was £1,83012023.. deficit £72.1991. At the end orth¢ financial year reserve5 w¥re £1,196,55212023: £1,194,7220. 1.he adequa¢y of the reserves policy 15 rcgulaTIy reviewed. Page 2
THV. E M MACANDRKWTRU RF.PORT OF TIIF. TRUSTF.F. F()R I'IIF. YEAR ENDLD 5 APRIL2 24 FINANCIAL REVIEW Investment polley objectives The Trusie&%' inve51meni policy is to protect the Teal capital value of the unrcstricted ¢ndowrr]ent fund ov¢r time to enable them tnee( their objective of 5upponing charitable institutions. During the y¢ai the expcndable endowment fund decreased by 1.83% {2023.. decrease 6.07%). The IteeS havc choscn not io adopt lormal ethi¢al invcstment policies. Restrve5 polley It is the policy ofthe Trust to maintain its fr¢e iesetvcs at a level which gencrate5 5uffi¢i¢nt iTLvestrnent incom¢ to Gover maTLagement, adminisiraiion and support Cuts and the proposed grant making in the yeor. FUTURE PLANS The trustccs iniend lo continue providing 8rants in a similar way the recent past whi15t retaining flexibility as ¢0 the timin¥ and sclllc of grants. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The charity is ¢onirollcd by its goveming duLumcnt, o deed of trust dated 1st Novemb¢r 1984 and constitutes a unincorporAled charity. Recrnltment and appolntmtnt of new trusttei Th¢ 'frusiees of thc charity are listed on th¢ infomiAtion page. The first Truskes w¢r¢ appointed und¢r ¢h¢ Trusi Deed and Illier changes hove been made by the Trusi¥c8 undcr their wwers in th¢ d¢¢d. New Trusice5 may be appointed by the exi5tin8 Trustees. Rlik mAhB8emeTrt The Truyl¢¢s reviewed th¢ major risks to which th¢ charity is exposed and system8 have b¢¢n established to mit11¢ those risks. Approved by order of th¢ board of irustecs on ......,........ and si8n¢d on its behalfby.. Mrs A R NiGho150n- Truslee Pagr 3
INDEPENDLN1' EXAMINF.R'S REPORTTO THF.THUSTEES OF THE E M MACANDREW TRUST Indepedent ex•mlner'8 report to ihe trusiet8 thf The F, M Mi¢Andrew Trust l T¢POrt to the Gharity trustees on Tlly exami[tIOn of the account5 of The E M MacAndr¢w Trust (the Trust) for the year ended 5 April 2024. Rupon$ibiliti¢$ Ind basis of report As th¢ chariLy Iru51eeq of the Tn[ you are respoTh8ible for the prcpAratioll of the accounts in COrdance with the requirements of thc Charities Act 2011 (Ihc Acti. I repurt in respelt ol'my examination ul'the Tnjsvs accounts carried out utjder S¥Ltion 145 of the Act and in Carrying ou( my examination I havc foll()wed all applicabl¢ DireGtion5 giv¢n by thc Charity Commission under Section 145(5llbl of thc Act. Independent examlner'5 5tateThent I have cornpleted my examination. I confirm that no rnaterial matters have wm¢ to my attention in Co[e¢lL0n with the examination giving me cause to believe that in any material respeLt: ccountin8 record% wcrc not kepl in respect of thc Trust a5 required by Section 130 of ihe Act. or the account5 dn not accord wth those Tec(Kds' or th¢ atywunts do n()t Lumply wilh thc Applicable requit¥menL% Lunrcrning the form and contcnt of NcGountS Set out in ihc Chariiies (Accounts and Reports) Regulations 2008 uiher than any rcquircment that th¢ give true and fair view whtLh is not a mattcr considered as pari of an ind¢p¢nd¢ni examination. hAV¢ no ¢on¢ems and hav¢ Come a¥ri)$y other mallcT5 in ¢onneclion with Ihc exarninati<)n to wthich aitenlson should Xrrirnrin8 uf the accounts to b¢ r¢ach¢d. drNwn in thi5 report in order to cbIr a propcr ers Will Nixey Martin and Company Two Ilrewers Housc 50 North Street Thame Oxfordshirc QXI) JB Date.. Pt4
TIIE Tr. MACANDRTr.W TRUST ST ATF.MENT OF FtNANC.IAI. ACTIV FOK I'Hb. YEAR EiYDED S APRIL 2024 5.4.24 Total runds 5.4.23 Total fi]nds Unrc5trict¢d fund Endown¢nt fijnd Notes INCOME AND ENDOWMENTS FROM Investment income 68W6 68.$56 66.265 EXPENDfruRE ON ChariiAble *ctlvltles Charit&ble activity 4S3611 4S,260 62.560 Net gain(lo$ScI on investments {21,466) (21A66) 175.9041 NET INCOMEI{EXPENDITURE) 23396 (21,466) 1.830 172,199) RFCONCILIATJON OF FUNDS Total fund5 brought forward 19,450 1,175372 1,194,722 1,266,922 TOTAL FUNDS CARRIED FORWARD 42,740 1,153,806 1,196,552 1,194,723 The notes fonn port of thc5c flnancial statements Page 5
THE E M MACAP4DREW TR BALANCE SHEET 5 APIUL 2024 5.4.24 TolAI 5.4.23 Total ds Unre5lricted fund Endownent Notes FIXED ASSET.S Investm¢nts 1,153106 1,153J(J6 1.175,272 CURRENT ASSETS Cth at bank 45,446 45,446 24,011 CREDITOILS Amounts falling due within one year 10 (2.71M)) {2,700) (4,560) NET CURRENT ASSETS 42,746 42,746 19.451 TOTAL A&SETS I.ESS CURRENT LIABILITIES 42,746 1.153J06 1.19&S52 1.194.723 NET ASSETS 42,746 1,153J116 1,196.552 ,194,723 FUNDS Unrc5trictd fundi Endowment fvnd$ 42,746 ,153,106 19.451 1,175,272 TOTAL FUNDS 1.196J52 1.194.723 The fin4n¢ial slatemenis were approved by the BoArd of Tntst¢es and authoriscd for issue . and were signed on its bch&lf by.. on A R Nichol$on- Trust¢¢ Thc notes forni part of these financial 5tatement$ Pag¢ 6
THE MMA I)RLW TR NOTES TO THE FINANCIAL STATEM OR I'IIE YEAR fr:ThDED 5 APRIL 2024 STATUTORY INFORMATION The E M Ma¢Andrcw Trust is a charity rcgistered in r.ngland and Walc5. 1-he charity's registered number and re81.%tered address can be found in the Trust¢¢s' Report. ACC.OUNTING POLICIF.S FIA5is of preparing tht flnantTfiI 8tAt¢mcnts The financial stot¢mEn15 of thc Charity. which is a public bencfit entity under FRS 102. hllve been prepared in acGordance with thc Charities SORP IFRS 1021 'AL¢ouniing and Reportits¥ by ChariLies' Siaiement of Rccommended PracliLe Applicable io charitie5 preparing Ihcir accounts in accordance with the Financial Reportithg St#ndard applicable in the UK and Republic of Irclond IrRs 1021 lefttc¢ivc l January 20191., Financial Reporting Standard 102 'The Financial tleporting Standard 4ppli¢ablc in ihc UK and Republic of Ircland, and the C.harilie$ Ac¢ 2011. The financial stzltments have been prepared under ihc hi5tori¢al tyost ci)nvention. wiih thc cxception of invesimcn15 which arc includ¢d ar market value, as modified by th¢ r¥valualion of Certain assets. The financial s¢atemen15 havc bcen preparcd to giv¥ a 'true and fair, vicw and have departed from the Charities (Accounts and Reports) Regulations 2008 unly lu Ihc exient required to provide a 'trklC and fair, vicw. This dcparture ha5 involved followin¥ ALcounling and R¢wfling by Charitie$ preparing iheir cOUNts in accordance with Ihe F¢nun¢ial Reporting Standard applicgbl¢ in Ihc UK and R¥publi¢ of Ireland IbRS1021 issued in October 2019 rather than the Accounting and Reporting by Charities.. Slatcmcnt of Recommended PTaclicc eifeciive from 1st April 2005 which hths sin¢e bcen withdrawn. The trust¢¢s Cvnsidcr th4¢ there Ire no m&t¢rial unccrtainties about the Charity's Ability to ¢ontinue us a 1)ing concern. All income is rewgnised in th¥ Statement of Finamcihl ActivitiC5 once the charity ha5 ¢ntLtlcmenl io th¢ fund8, It is probable thai the income will be received and rhe Rrnounl Can b¢ measured reli4bly. Expendltur¢ l.iabilities are rccognyscd as expenditure as soon as there is a legAI or con3twaive ubli84tion ¢ommittin¥ the charity to that expenditur¢, it is prob&ble Ihut a transfer vfeconomic benefits will be requircd in settlemcnt and Ihe amount ofthe obli¥ation can bc mva5ur¢d reliably. ExpcndilurL is accounted lor vn an acLru&ls h#sis and hJs been classified und¢r headin&Js that ar¢Bare all c051 r¢laled io Ihe cai¢gory. Wherc cu.sts Cgmnot be directly attribuled lo particular h¢adin8s Ihey have bccn allocated to aLltviiies on a basi5 consisicni wih the use of resourc¢s. Grants off¢r¢d subject to ¢ondi¢i¢)ns which have noi bcen met at the yeoT ¢nd d¥¢e notcd as u MMItment bul not a¢¢rued as cxpendrture. TAx8thon The charity ij ¢xempt from tax on its ¢harttable Activities. Fund accounting ed Inc In Genetal unTCStri¢l¢d funds comprise ac¢utnulated surplusc5 and dcfi¢its and invcstm¢nt ithcomc derived from th¢ charity's Investments. Th¢ fvnd 15 available for use at the discretion of the trustees in furtheranrc of the 8eneral charitablc objtttLVCS. t Fund Th¢ cndownent fulld comprises assets which ¢an bc applied in th¢ same Wdy as the inrome fund. Page 7 continu¢d..
THE E M MACANDREW TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 5 APRII, 2024 ACCOUNTING POLICIES- continucd Investment5 Sro¢ks and 5haTes quotcd ort the London Stock Exchange are included the balanLr sheet at their markd value at th¢ yEaT End. Thc differences between the markei value and the original cost of the inveslment are includ¢d in the slaent of Fincial Activities. No unquoted iThvcstments are held. Profits and 105S¢5 arising on the disposal of inveslments are 1clUded sn the Statemenl ol'Financial ActivitlCS INVESTMENT INCOME 5.4.24 5.4.23 Quoted investments Deposit account inl¢rest 68,147 409 66,265 68.S56 66.265 CHARITABLF. ACTIVITIES COSTS Grant fundin of Support cosis 1$¢¢ note 61 (see noie 51 Totals lTharit&blc aciivily 39JOO 5,760 45.260 GRANTS PAY ABLE GrAnts ftrded reprcscnt 26 Brants all ul. which wer¢ paid ro othcr ¢h8rit&ble insiiiutions. A complete list appears on pse 2. CJrants were m¥de under the following teories-. 5.4.23 Medical and rclief of poverty Edu¢aiional choritlC5 ATt% and comrnunily GhAriiies 28.000 2,000 26,500 4,IIIK) 18,000 39,51)0 56,500 Page 8 contithud...
TIIE L M MACANDRY.WTRU OTFS TO THF. I", INANCIAL STATF.MENTS- contlnlled FOR TIIL YF.AR kNI)Tr.D 5 APRIL 2024 SUPPORT COSTS Governan¢e costs Fin7¢¢ Totals ChaTitablc activity 360 5.41)0 5,760 Support cos15, included in the above, are as follow5.. 5.4.24 Charitable activity 5.4.23 Total arlivitLCS Bank char8¢S A¢¢ouniancy And legal f¢es Indepcndent ¢xamination fee5 360 3,780 1,620 360 4J80 lJ20 5,760 6,1160 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or oiher bcncflts for ihe year e[¢ 5 April 2024 nor for the Y cnded 5 April 2023. Trnstttj, expenses There were trustees, expensc5 paid fur ¢he year ended 5 April 2024 rK>r for the yew ended 5 April 2023. STAFF COSTS Th¥r¢ are no employccs 50 ConseqnIty no staff costs have bEen incuTred. FIXED ASSET INVESTMENTS List¢d investtnenLs MARKET VALUE Al 6 April 2023 Revaluation5 1.17S372 (21,466) At 5 April 2024 1,153,806 NET BOOK VALUE At 5 April 2024 1,143,806 At S April 2023 1.175,272 The investsnents 4re held ih M&G Equities Invc5tTncnt Fund for Charities Icharifundl GBP In¥. The fund factsh¢et sthks that at least 700/u of the fithd is inv¢sted in sharcs of UK rompanies. The IKJok v41ue ofinYc5tm¢n¢5 a(5th April 2024 is £727,333. Page 9 titinucd...
THE E M MACANDREW TRUST NOTES TO THE FINANCIAL STATEMENTS- toThtlnued FOR THE YEAR ENDED S APRIL2024 io. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR &4.24 5.4.23 Other ereditors 2.700 4,560 MOVEMENT IN FUNDS Net mov¢ment in ldS At 5.4.24 At 6.4.23 UnreJtrlcted funds General fund 19.4511 23.296 42,746 Endowment fvnd8 E[0w[nent Ilmd 1,17S372 (21,466) 1,153M16 TOTAI, FUNDS 1,194,722 1.830 1.196.SS2 Nct mLivcment in tiinds, included in th¢ above are as follow5.' Incomin re$oure¢$ Rcsourccs expendcd Ciain$ Hnd 055C5 Mov¢ment in rtdS Unrestrlcted Gcncral lund 68,S56 {4SJ601 23296 EndowThcnt fund (11466) (21,4661 TOTAL FUNDS 6¥J56 145.2601 {2l,4661 Comparatives for movement In thThdg N¢t movement in fwids Tr8nsfers between funds At 5.4.23 Ai 6.4.22 Ilnre$trl¢ted fund$ Gencral fund 7,683 3.705 8,063 19.451 EndoWent funds Endow7nent fid 1.259.239 (75.9041 {8.0631 1.175.272 TOTAL FUNDS 1.266,922 172,1991 1.194.723 PAge 10 continu¢d...
M MACANDRI.W TRUST TES TO THE FINANCIAI.STATEMEN FOR I'IIF. YF.AR ENDED S APRIL 2024 contin M0ME1r IN FUNDS- colltlnued Comparative net mov¢ment in fimds. included in the abov¢ are as follows: R¢sour¢es expended Gains artd 105ses Movemetjt in funds resource5 Uurestrlcted funds General fund 66.265 162.560) 3,705 EndoTvment fynds Ertdont fiu 175.9041 175,904} TOTAL FUNDS 66,265 162,5601 175.9041 172.1991 12. RELATED PARTY DISCLOSURES Ther¢ were no related party transaGtions for th¢ year ended S April 2024. Pa8¢11
THE E M MACANDREW TRUST DETAILED STATEMENT OF FINANCIAL ACTtvrrIES FOR THE YEAR ENDED 5 APRIL 2024 5.4.24 5.4.23 IIYCOME AND ENDOWMENTS IDwe3tm¢Nt Qwted investments Deposit account interest 68.147 409 66.265 68556 66.265 Tot*1 Ineomlng re8ourees 68356 66.265 EXPENDITURE Ch4rlt4bl¢ 8CtlvltleJ Grants to insiitutions 395110 56.500 Support eo$t8 Flnan¢e Batsk Chargcs 360 360 Governance cwli AOntanCY and le881 Ices Ind¢pend¢nt ¢x8mittallon f¢¢$ 3,7811 1,620 4.380 1.320 S,400 5,700 Total resouKes expended 45260 62,560 Net Income before 8alnJ And lomes 23J96 3.705 Reall r¢¢ognl$¢d g4lnJ loj Gainsllosses ort investments 121,4661 175,9041 Net lucomel{eAPtnditure) 1,8311 {72.199) This pa8c docs not form part of thr statutory fiTLattrial statrmcn(S Page 12