2022-04-05-accounts

THE CUMBER FAMILY CHARITABLE TRUST

TRUST ACCOUNTS

FOR THE YEAR ENDED 5[th] APRIL 2022

Wenn Townsend Chartered Accountants Abingdon

THE CUMBER FAMILY CHARITABLE TRUST

INDEX TO ACCOUNTS

	Page
Trustees Annual Report	2-4
Independent Examiner’s Report	5
Statement of Financial Activities	6
Balance Sheet	7
Notes	8-11

1

The Cumber Family Charitable Trust

Trustees’ Annual Report for the year ended 5[th] April 2022

The Trustees present their report together with the financial statements of The Cumber Family Charitable Trust for the year ended 5[th] April 2022.

The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS102) in preparing the annual report and financial Statements of the Charity.

Reference and Administrative Details

The charity is registered with the Charity Commission, number 291009.

Trustees

The following Trustees served throughout the period under review:

Margaret Jill Freeman Julia Elizabeth Mearns Mary Elizabeth Tearney William John Cumber Kellie Ann Davey Ellen May Cumber (appointed 15 February 2022)

Principal Address

Manor Farm Marcham Abingdon Oxon OX13 6NZ

Accountants

Wenn Townsend 10 Broad Street Abingdon Oxon OX14 3LH

Investment Advisors

Rathbones 1 Curzon Street London W1J 5FB

2

The Cumber Family Charitable Trust

Trustees’ Annual Report for the year ended 5[th] April 2022 (continued)

Introduction and Overview

The Trust is governed by a settlement dated 11[th] January 1985.

Objectives

The objectives of the Trust are to benefit other charitable bodies and for such other purposes as shall be exclusively charitable.

Appointment of Trustees

New Trustees are identified and appointed by existing Trustees, having been selected by virtue of their suitability. All Trustees are made aware of their responsibility to the Trust.

Summary of Main Activities and Public Benefit

The Trust dispenses grants made primarily out of the income received from investments. Grants are decided upon at the Trustees’ meetings held each year, usually in October/November and March. Grants are made to other charitable bodies and in doing so, the Trustees have had regard to the guidance issued by the Charity Commission on public benefit.

Individuals are rarely supported and only if they are personally known to one of the Trustees.

The Trustees review their investment policy and instructions to their advisors annually.

At each Trustees’ meeting, applications are considered under the following headings: overseas; housing and welfare; children, youth and education; medical and disability; environment.

The emphasis is on one-off grants and no additional grants are given within a three-year period unless a commitment to this effect has been made at the outset. The Trustees give emphasis to projects in developing countries, UK national needs and projects which are local to Berkshire and Oxfordshire. They have a particular interest in agricultural and rural needs overseas.

Summary of the Main Achievements of the Charity during the Year to 5[th] April 2022

This year saw a return to meetings held in person rather than by zoom. However, for personal rather than pandemic reasons, the Autumn meeting was postponed until early in 2022. The Trustees considered appeals under the usual five headings of Overseas, Environment, Children Youth & Education, Health & Disability, Welfare & Housing and awarded grants totalling £32,000.

The Spring meeting followed a similar format but in addition, each Trustee was invited to bring forward a personal project or projects to a total value of £5,000 without prior circulation. This was warmly received and may become a regular feature of the Charity’s giving in future years. It resulted in a doubling of value of the grant allocations for the Spring meeting. In addition, the grant to the Vale & Ridgeway Trust was increased to £10,000 by the Trustees in memory of the late Will and Janey Cumber both of whom served as Trustees for many years.

3

The Cumber Family Charitable Trust

Trustees’ Annual Report for the year ended 5[th] April 2022 (continued)

Policy on Reserves

Minimal reserves are held in a Business Instant Access Account to enable the Trust to respond promptly to urgent requests for assistance.

Declaration

The Trustees declare that they have approved the Trustees’ report above.

Signed on behalf of the Charity’s Trustees

……………………………………………..

Mary Elizabeth Tearney (Secretary)

18[th] October 2022

4

Independent Examiner’s Report to the Trustees of

The Cumber Family Charitable Trust

I report to the charity trustees on my examination of the accounts of the company for the year ended 5[th] April 2022 which are set out on pages 6 to 11.

Responsibilities and basis of report

As the charity trustees of the company (and also its directors for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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

1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.

Stuart Bates BA FCA CTA Wenn Townsend Chartered Accountants 10 Broad Street Abingdon Oxon, OX14 3LH

• 3[rd] January 2023

5

The Cumber Family Charitable Trust Statement of Financial Activities for the year ended 5[th] April 2022

Incoming Resources Investment Income Interest: Bank Other Dividends Total Incoming Resources Resources Expended Direct Charitable Expenditure 2 Professional Fees Accountancy Exchange losses Sundries 3 Fund management Total Resources Expended Net incoming resources Investment Gains/(Losses) Unrealised Investment Gains/(Losses) Realised Net Movements in Funds Funds brought forward Funds carried forward	2022 Unrestricted - 1,293 282,579 283,872 93,000 1,020 40 - 7,290 101,350 182,522 58,532 7,847 248,901 1,212681 £1,461,582	2021 Unrestricted 1 2,628 357,085
		359,714
		111,000 1,020 1,304 17 7,463
		120.804
		238,910 185,855 30,219
		454,984 757,697
		£1,212,681

6

The Cumber Family Charitable Trust Balance Sheet as at 5[th] April 2022

Fixed Assets Investments valuation 3 Cash at bank Creditors 4 Net current assets Net Assets Represented by: General Funds – unrestricted	2022 993,061 531,041 (62,520) 468,521 £1,461,582 £1,461,582	2021 913,804
		320,397 (21,520)
		298,877
		£1,212,681
		£1,212,681

Approved by the Board of Trustees on 18[th] October 2022 and signed on its behalf by:

Ellen M Cumber

William J Cumber

7

The Cumber Family Charitable Trust Notes to the accounts for the year ended 5[th] April 2022

1 Summary of significant accounting policies

(a) General information and basis of preparation

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

(b) Funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

(c) Income recognition

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained, then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends and interest. Investment management costs are included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend income is recognised as the charity’s right to receive payment is established.

8

The Cumber Family Charitable Trust Notes to the accounts for the year ended 5[th] April 2022

1 Summary of significant accounting policies (continued)

(d) Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.

Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.

(e) Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings, they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.

(f) Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Current asset investments are short term highly liquid investments and are held at fair value. These include cash on deposit and cash equivalents with a maturity of less than one year.

(g) Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

(h) Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

(j) Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

9

The Cumber Family Charitable Trust Notes to the accounts for the year ended 5[th] April 2022

2 Donations during the year

Acorn Initiative 1,000 Asylum Welcome Addington Fund 5,000 Amref Health Africa Bridewell Gardens 1,000 Bath Institute for Rheumatic Disease Brightwell Baldwin Church 1,000 Be Free YC Brightwell Baldwin Ukraine Help 4,000 Berkshire Women’s Aid Brightwell Salome Church 5,000 Blind in Business Disaster Emergency Committee 2,500 British Stammering Association Donnington Doorstep 1,000 Busy Buttons Empathy 1,000 Children of Choba Epilepsy Action 500 Concern Worldwide Friends of Bardwell 500 Cued Speech Friends of Kipkelion 1,000 Deaf Blind Great Haseley Church 2,500 DEKI Halow 500 Dementia UK Home Start North Oxon 1,500 Dream Holidays Huntingdon’s Disease Association 1,000 Freedom Kit Bags Jos the Boss 5,000 Friends of Midnapore Kids for Kids 1,000 Helen Arkell Dyslexia Charity LEAF 500 Home Start South Oxon Mary Hare Foundation 1,000 Homeless Oxfordshire Medic to Medic 1,000 Legs for Africa Nightingales Children Project 1,000 MAF Nuevas Esperandas 1,000 May Messy Oxon Play Association 500 Orbis Prospect Burma 1,000 Parents and Children Together Quest for Learning 500 Pennyhooks Farm Trust Read for Good 500 React Respite Association 1,000 Re-Cycle Safe 1,000 Second Chance Serendip 1,000 Solar Aid Sobell House 1,000 Tanzania (UK) Trust The Forward Trust 1,000 Tibet Relief Fund Vale and Ridgeway Trust 10,000 Tools for Self Reliance Wellbeing of Women 1,000 Watlington PCC Womankind Worldwide 1,000 Wokingham in Need Worldwide Cancer Research 1,000 Woman and Children First Total

1,000 1,500 1,000 2,000 1,000 1,000 500 500 2,000 1,000 500 1,000 1,000 1,000 500 1,000 1,000 500 500 1,000 2,000 1,000 500 1,000 1,000 500 500 500 500 1,000 1,000 1,000 1,000 500 500 1,000 £93,000

10

The Cumber Family Charitable Trust

Notes to the accounts for the year ended 5[th] April 2022

Investments Value brought forward Additions Disposals Revaluation Value carried forward 4 Creditors due within one year Accruals	2022 913,804 128,889 (108,164) 934,529 58,532 £993,061 2022 £1,020	2021 691,174 184,508 (147,733)
		727,949 185,855 £913,804 2021 £1,020

11