DocuSign Envelope ID: 8560A68C-5EBF-4DE2-9B05-D86759D05848
REGISTERED CHARITY NUMBER: 292835
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021
FOR
EDITH MAUD ELLIS 1985 CHARITABLE TRUST
Tattersall Bailey Chartered Accountants 14A Main Street Cockermouth Cumbria CA13 9LQ
DocuSign Envelope ID: 8560A68C-5EBF-4DE2-9B05-D86759D05848
EDITH MAUD ELLIS 1985 CHARITABLE TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
DocuSign Envelope ID: 8560A68C-5EBF-4DE2-9B05-D86759D05848
EDITH MAUD ELLIS 1985 CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2021
The trustees present their report with the financial statements of the charity for the year ended 5 April 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).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
292835
Principal address
C/O Mrs J Baily 6 Westgate Thirsk North Yorkshire YO7 1QS
Trustees
M Phipps E Cave J Dawson N Sims W Sender J Lingham
Independent Examiner
Luke Tattersall FCA Tattersall Bailey Chartered Accountants 14A Main Street Cockermouth Cumbria CA13 9LQ
Approved by order of the board of trustees on 8 November 2021 and signed on its behalf by:
J Lingham - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF EDITH MAUD ELLIS 1985 CHARITABLE TRUST
Independent examiner's report to the trustees of Edith Maud Ellis 1985 Charitable Trust
I report to the charity trustees on my examination of the accounts of Edith Maud Ellis 1985 Charitable Trust (the Trust) for the year ended 5 April 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
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.
Luke Tattersall FCA Tattersall Bailey Chartered Accountants 14A Main Street Cockermouth Cumbria CA13 9LQ
8 November 2021
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EDITH MAUD ELLIS 1985 CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2021
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Investment income 2 Total EXPENDITURE ON Raising funds 3 Charitable activities Grants paid Other Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
5.4.21 Unrestricted funds £ 6,271 23,754 30,025 11,929 11,795 3,596 27,320 295,469 298,174 1,182,368 1,480,542 |
5.4.20 Total funds £ - 33,965 33,965 15,803 26,300 6,697 48,800 (71,132) (85,967) 1,268,335 1,182,368 |
|---|---|---|
The notes form part of these financial statements
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EDITH MAUD ELLIS 1985 CHARITABLE TRUST
BALANCE SHEET
5 APRIL 2021
| Notes FIXED ASSETS Investments 6 CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 8 Unrestricted funds TOTAL FUNDS |
5.4.21 Unrestricted funds £ 1,377,452 105,440 (2,350) 103,090 1,480,542 1,480,542 1,480,542 1,480,542 |
5.4.20 Total funds £ 1,088,679 95,969 (2,280) 93,689 1,182,368 1,182,368 1,182,368 1,182,368 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 8 November 2021 and were signed on its behalf by:
J Lingham - Trustee
The notes form part of these financial statements
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EDITH MAUD ELLIS 1985 CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
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. INVESTMENT INCOME
| Deposit account interest Curr asset inv income |
5.4.21 £ 14 23,740 23,754 |
5.4.20 £ 29 33,936 |
|---|---|---|
| 33,965 |
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EDITH MAUD ELLIS 1985 CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2021
3. RAISING FUNDS
Investment management costs
| 5.4.21 | 5.4.20 | |
|---|---|---|
| £ | £ | |
| Portfolio management | 11,929 | 15,803 |
4. TRUSTEES' REMUNERATION AND BENEFITS There were no trustees' remuneration or other benefits for the year ended 5 April 2021 nor for the year ended 5 April 2020.
| Trustees' expenses 5.4.21 £ Trustees' expenses 14 5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Investment income EXPENDITURE ON Raising funds Charitable activities Grants paid Other Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
5.4.20 £ 294 Unrestricted funds £ 33,965 15,803 26,300 6,697 48,800 (71,132) (85,967) 1,268,335 1,182,368 |
|---|---|
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EDITH MAUD ELLIS 1985 CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2021
6. FIXED ASSET INVESTMENTS
| MARKET VALUE At 6 April 2020 Additions Disposals Revaluations At 5 April 2021 NET BOOK VALUE At 5 April 2021 At 5 April 2020 There were £492,224 investment assets outside the UK. Cost or valuation at 5 April 2021 is represented by: |
Listed investments £ 998,455 320,700 (251,953) 232,666 1,299,868 1,299,868 998,455 |
Unlisted investments £ 90,224 - (5,000) (7,640) 77,584 77,584 90,224 |
Totals £ 1,088,679 320,700 (256,953) 225,026 1,377,452 1,377,452 1,088,679 |
|---|---|---|---|
| Valuation in 2021 Valuation in 2020 Cost |
Listed investments £ 232,666 123,453 943,749 1,299,868 |
Unlisted investments £ (7,640) 37 85,187 77,584 |
Totals £ 225,026 123,490 1,028,936 |
|---|---|---|---|
| 1,377,452 |
If Fixed asset investments had not been revalued they would have been included at the following historical cost:
| Cost Aggregate provisions |
5.4.21 £ 1,028,936 (356,156) |
5.4.20 £ - |
|---|---|---|
| - |
Fixed asset investments were valued on an open market basis on 5 April 2021 by Rathbone and King Shaxson..
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EDITH MAUD ELLIS 1985 CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2021
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other creditors 8. MOVEMENT IN FUNDS Unrestricted funds General fund Designated capital fund TOTAL FUNDS Net movement in funds, included in the above are a Unrestricted funds General fund Designated capital fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Designated capital fund TOTAL FUNDS |
At 6.4.20 £ 1,873 1,180,495 1,182,368 1,182,368 s follows: Incoming resources £ 30,025 - 30,025 30,025 |
|
|---|---|---|
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EDITH MAUD ELLIS 1985 CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2021
8. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming Resources resources expended £ £ Unrestricted funds General fund 33,965 (32,997) Designated capital fund - (15,803) 33,965 (48,800) TOTAL FUNDS 33,965 (48,800) A current year 12 months and prior year 12 months combined position is as follows: Net movement At 6.4.19 in funds £ £ Unrestricted funds General fund 905 15,602 Designated capital fund 1,267,430 196,605 1,268,335 212,207 TOTAL FUNDS 1,268,335 212,207 |
Gains and losses £ - (71,132) (71,132) (71,132) Transfers between funds £ (13,500) 13,500 - - |
Movement in funds £ 968 (86,935) (85,967) (85,967) At 5.4.21 £ 3,007 1,477,535 |
|---|---|---|
| 1,480,542 | ||
| 1,480,542 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Designated capital fund TOTAL FUNDS |
Incoming resources £ 63,990 - 63,990 63,990 |
Resources expended £ (48,388) (27,732) (76,120) (76,120) |
Gains and Movement losses in funds £ £ - 15,602 224,337 196,605 224,337 212,207 224,337 212,207 |
Gains and Movement losses in funds £ £ - 15,602 224,337 196,605 224,337 212,207 224,337 212,207 |
|---|---|---|---|---|
| 212,207 | ||||
| 212,207 |
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EDITH MAUD ELLIS 1985 CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2021
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 5 April 2021.
10. ADDITIONAL INFORMATION
Donations and legacies received include income of £6,271 relating to to the repayment of a loan that had previously been written off.
Net gains/(losses) on investments include a cost of £7,641 relating to a share valuation error in a previous year.
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DocuSign Envelope ID: 8560A68C-5EBF-4DE2-9B05-D86759D05848
EDITH MAUD ELLIS 1985 CHARITABLE TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2021
| 5.4.21 | 5.4.20 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | 6,271 | - |
| Investment income | ||
| Deposit account interest | 14 | 29 |
| Curr asset inv income | 23,740 | 33,936 |
| 23,754 | 33,965 | |
| Total incoming resources | 30,025 | 33,965 |
| EXPENDITURE | ||
| Investment management costs | ||
| Portfolio management | 11,929 | 15,803 |
| Charitable activities | ||
| Grants to institutions | 11,795 | 26,300 |
| Support costs | ||
| Management | ||
| Advertising | 98 | 263 |
| Finance | ||
| Trustees' expenses | 14 | 294 |
| Governance costs | ||
| Sundries | 4 | 475 |
| Accountancy and legal fees | 2,350 | 2,616 |
| Administrator's fees | 1,130 | 3,049 |
| 3,484 | 6,140 | |
| Total resources expended | 27,320 | 48,800 |
| Net income/(expenditure) before gains and | ||
| losses | 2,705 | (14,835) |
| Realised recognised gains and losses | ||
| Realised gains/(losses) on fixed asset investments | 295,469 | (71,132) |
| Net income/(expenditure) | 298,174 | (85,967) |
This page does not form part of the statutory financial statements
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