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 Page 1 DocuSign Envelope ID: 8560A68C-5EBF-4DE2-9B05-D86759D05848 ## **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: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. 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 Page 2 DocuSign Envelope ID: 8560A68C-5EBF-4DE2-9B05-D86759D05848 ## **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 Page 3 DocuSign Envelope ID: 8560A68C-5EBF-4DE2-9B05-D86759D05848 ## **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 Page 4 DocuSign Envelope ID: 8560A68C-5EBF-4DE2-9B05-D86759D05848 ## **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| Page 5 continued... DocuSign Envelope ID: 8560A68C-5EBF-4DE2-9B05-D86759D05848 ## **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| |---|---| Page 6 continued... DocuSign Envelope ID: 8560A68C-5EBF-4DE2-9B05-D86759D05848 ## **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.. continued... Page 7 DocuSign Envelope ID: 8560A68C-5EBF-4DE2-9B05-D86759D05848 ## **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|| |---|---|---| |||| |||| continued... Page 8 DocuSign Envelope ID: 8560A68C-5EBF-4DE2-9B05-D86759D05848 ## **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| continued... Page 9 DocuSign Envelope ID: 8560A68C-5EBF-4DE2-9B05-D86759D05848 ## **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. Page 10 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 Page 11