THE EDITH MAUD ELLIS 1985 CHARITABLE TRUST Registered Charity No: 292835 Report of the Trustees and Financial Statements Year ended 5 April 2024 PART ONE Contenls Page Report of the Trustees 2106 Independeni Examiner's report and Financial Statements 7t0 19 Part One conlains ihe Repori of rhe Tnuiees. including a Financial Swnmary. Part Two, Ivhich is available separalely, contains infyll the Independeni Examiner .f Report. Ihe Sialemenl ofFinancial Aclivilies. Ihe Balance Sheel. and ihe Notes lo ihe Financial Siatemenis.
THE EDITH MAUD ELLIS 1985 CHARITABLE TRUST Report of the Trustees The Trustees present thcir rq)ort in Part One, together with the Financial Statements in Part Two, for the year ended 5 April 2024. Charity registrdtion number: 292835 The Trustees who served during ibe year were: Elizabeth A Cave, joint Clerklchair (stood down on 31.12.23) Wendy Sender, Assistant Clerklchair Marigold Bentley, Clerk/Chair (from l.J.24) Rosie Carnall Roger Chapman Jonaihan Lingham Catherine Longstaff Bankers Trii)dos Bank Deanery Road Brisiol BSI SAS Titan House Castle Park Castle Street Cambridge CB3 OA Y Independent Financial Accountant Taitcr5all Bail¢y 14A Main Streel Co¢kerniouih Cumbria CA13 9LQ Admlnlstralor and address for correspondence Jackie Bally Virtuosily Executiv¢ Supporf Prospect Hous¢, 6 Wcstgate Thirsk Y07 IQS Independent Ei4mlner Luke Tatt¢rsall FCA TattcThall Bail¢y 14A Main Stre¢l Cockerniouth Cumbria CA13 9LQ Investment Managers King & Sh<sn Assel Management 155 Fenchurch Sireel London EC3M 6AL Greenbank Inv¢stments 8 Finsbury Circus London EC2M 7AZ Legal Advlsers H¢aiher Fuff Tees Solicitors
THE EDITH MAUD ELLIS 1985 CHARITABLE TRUST Governing Instrument Trustees may deiennine from lime to time. The Tn1 rnakes grdnts to a tange of charities and for clwitablc activities in accordan¢e both with Edith Ellis's known interests and with the ' TTUSt's granl-making policies. as set oui below. The Charity is governed by a Deed of Tnt dated 12 S¢ptmber 1985, as amended on 10 October 2018. StAtement of Pradice A Statem¢ni of Practice, lodged with the Charity's legal advisers, is subordinate to the Deed of Trust. It is both prescriptive and descriptive. Public Benefit Th¢ Trt¢s confllm that they have referred to the Chariry Commission's guidance on public benefii when revi¢wing the Trust's aims and objectives. and when setting its grant- makmg policies. The Trust's aims and objcctive5 fall within the various descriptions of charitsble PUTposes in the Charities Act 2011. These purposes include.. advancement of religion. the prevention or relicf of poverty; the relief of those in need: the advancement of human riJo ts, ¢onflici resolution or reconciliation. including the promotion of religious or racial hamony. equality, and divcrsity: and envtronmenral protection or improvemenL including climaie change mitigation. Th¢ prescnplive part consists of broad principles of governance wbich the TTUStees expect to be maintained over the longer lerni. Accordingly, it represents the considered Judgement of the Trnsiees as to how the Charity is best governed in conforniity with its Deed of Tt. It is open to amendment at a general policy meeting after the Trustees hov¢ received due noti¢¢ of the amendment proposed. mtnor amendment to the Statement was made during the year. The descrEpiive part consists of detail operational arrangements within which the Tnjstees intend to work in the shoner ierni. Accordingly, it represents Current prdctice and may be changed from time to time without notice at any meeting of the Tntsiees. Operdtional arrangements shall. in any case. be reviewed at a general policy meetiDg each year. Public nefit is demonstrated in the delivery of the iniended outcomes of the Tt'S charitable purposes listed alK>ve. and in the financial and other support with which these ouicome5 can be acbkeved. among the public at large or among significant sections of the public without unreasonable restriction. The organisaiions supported during the year are listed on page 6 of this rerrf>rt. Public benefit h&s also been demonstrated by the Charity having elected to invest a small proportion of its endowment (cutrently around 70/0) in organisaiions whose activities are closely aligned with the charitsble purposes of the Tn1. Object of the Charity Edith Maud Elli5 (1878-1963) was a Quaker who worked tirelessly for international peace 2nd reconciliation. The Edith Maud Ellis 1985 Charitsble Trust was estsblish¢d for genernl charitable purposes in 1985. The object ol the Charity is to apply funds for the bcnefit of charities or for such chan"table purposes as the
THE EDITH MAUD ELLIS 1985 CHARITABLE TRUST In rdance with its wish for transparency in its work. the Trust's website sets oul infomation about the Tt and its Trustees, the online application process for grdnls. and the criteria for their award: Trnste¢ st(M)d down. having served two tern of six yeats. No new TnLSte¢s We appointed. Remuneration of Trustees www.theedithm¢llis¢lwitabletrust.o The TDJstees receive no remuneration. save in the case of professional or other charges for WOTk done &5 pennirted by Clause 7 of the Deed of Tnt. No such payments were made the reporting year. TteeS may b¢ reimbursed for expenses necessarily ineutred on Trust business. Meetlngs of Trustees Tnlstees met four times in the financial year 2023-24, using both in person and online meetings. Trustees seek to balance the higher quality of discernment on policy matters or on grant applications when meeting fa¢¢-tO-fac¢ with the reduccd cost of online meetings. Ea¢h meeting was held in the manner of Quakers, guided by the spirit as much as by economic and financial imp¢raiiv¢. Incolne and Reserves Policy The Charity pursues a total rern approach, deriving income from capitsl gains on fixed asset inv¢snnents (shares and bonds) sold from its Capital Fund as w¢ll Is Irom dividends generated from these investsnents, and from interest on cash holdings. Trustees airn to spend the D]ajority of investment income on grants, leavtng a smallcr margin of Income to over nnIng costs. prOt ihe capitsl from a volatile markeL and cover any unanticipated penses or fluctuations in cash flow. At these meeiings. Trustees reVIeed the financial position of the Charity in iernjs of portfolio valuation and proj¢cied income. Trustees also agreed any actions needed to secure the Charity's future in the light of the volatility of global financial markeis. During the year Truslecs also met to review the continued appropriateness of lis policies. TTU51ees' cornpliance with th¢s¢, and io Consider and approve grdnt applications. Fees for other professional services {audiL independent exarniner. and administration) continuc to bc met from income, ar¢ any expenses incurred by Trustees OD Trust busine&s. TnLSt¢es noted the additional questio]LS required by the Charity Commission for annual returns from 2023 onwards. We have revRewed our annual reponing inforntIon to ensure that the required infornialion is provided and made clwiges as required. Investment Poliev DLEring the year, the Trustees r¢viewed and re- adopied their positive ethical investsnenl policy. The practice rernains to hold investments which ar¢ firmly aligned with the Trust's ethical principles. Appolntment of Trustees Trustees are appointed in accordance with provisions set out in the Charity's Dccd of Trust. Cuttent EK)licy is to appoint TnteeS for six yeats. with the possibility of reappoiDtrnenl for one further six-year ierni. Trustees, possible reappointhients are reviewed two years before thc cxpiry of iheir six-year *rn]. Detailed aangements are described in the Siatemeni of Practice. During the year one The bulk of the ini'estmcnt portfolio is adrninistered by Iwo estsblished investment management companies. in order io spread risk. Trusttts meet with the managers of these fimds annually io review the portfolio, obtain assessment ol likely income, joiutly assess risk, and ensure ihat portfolio investments remain in a¢¢ordance with Sfated policy. The TruseS continue to look for opportunities to
THE EDITH MAUD ELLIS 1985 CHARITABLE TRUST divest from holdings that contravene the Charity's ethical prin¢iples and move inio funds and enterprises that mirror its values. while n)aintaining their telatively cautious approach to th¢ management of the Charity's investments. relaiively small proportion of total inveslments {l¢ss than £75,000) is in the forni of transferrnble shares and bonds in th¢ Secondary market. These are managed directly by the Trnstees. in accordance with the Charity's stated policies on investment at risk. These invesrmenis are used to fund small-scale sustainable projects in seciors closely aligned with the Tnt'S charirable purposes, such as in renewable energy and social housing. Full financial statcmcnts for the year ended 5 April 2024 forni Part Two of this report.. these have been independently examined and are available separately on request. Incoming resources for the year ¢nd¢d 5 April 2024 lotalled £33.549 (2023 £32.5691. derived from dividends and inrest. Total resources expended to £57,618 (2023 = £54.551), of which net Charitsble grJnts amounted io £41.960 (2023 £38.025). support costs (adv¢rtisin8, expenses. and accouniancy. legal and administrdtor's fees) £7,549 (2023 £7.740). and invcstmcnt mana8¢menl fees £8.109 (2023 - £8.7¥6). Nei expendilure (incoming re50urccs minus totsl resources cxpcndcd, but before investhient net gainslloss¢s) ¢ame lo minus £24.069 {2023 minu.s £21,982>. Net 105ses in the value of the Charity's lisl¢d investments amounted to £29.6511 (2023 = minus £185,158) due to coniinued economic weakness ift many of the world's major economies, togeiher with worries ovcr th¢ sityalion in Ukraitic and IsrdeVPalestine. Total book value of the Chariry's investsnenis ai year-end stood 8t £1.146,412 12023 £1,136.5891. Net curreiit asscls (cash at bank. and cash hcld by investment managers, less amounts falling due lo creditors Within one year) stood a¢ £41.465 (2023 - £105,015). Total nei assets of the Charity as at 5 April 2024 wcrc £1.187.877 {2023 £1.241,604}. Flnn¢ll Oversight The Trust's current and projected financial Positions are r¢view¢d ai each of ihe meeiings of Trustecs, and in greater d¢tsil ai their annual linance meeting. to enable them lo plan future allocation of granis. Two Truste¢s arc dcsignated lo l¢ad on financial matters, moniioring incornc and Cxpcndiiurc on a regular basis ensure that sufficient liquidity is maintained in Ihe curreni account. and staying in touch with th¢ TNs1'S invc51mcni manugcrs to ascertain lik¢ly inv¢slmcnl incom¢ over the coming year. to help detemiine the likely level of grani giving that will bc affordable. Flnancial Summary Historically Truste¢s have sought lo maintain the real-temls valuc of the Charity's invcstmcnt portfolio whil¢ providing a rcgular income (trom dividends, interest, and sale of investments) of around £40,000 a year. The disruptiork to financial markets particularly rising inflation and interest rates causcd in large pan by external global shwks over the last three years h&s necessitsled a reas5$ment of Ihis practicc. Trustccs have begun a proce55 to review their approach io grdnt making, Grants During the year TteeS met on two oc¢asions to consid¢r granl applications, in July 2023 and February 2024. Fiv¢ new grants totalling £21,460 were awarded in July and a further riv¢ new grants ts)thlling £20,500 were awarded in Febnwy. In totsl. grani awards for the year carne to £41.96012023 = £38,025). The grants awarded are sUMmlsed in the ble on the folloTh'ing page.
THE EDITH MAUD ELLIS 1985 CHARITABLE TRUST Graftts awarded.. Recipient Calegori&cn"leri4 Amounl, £ t)ovetail Music Workshops Conllict Minerals Campaign Wolverharnplon Quaker Meeting Ajyal Foundation for Edu¢ation Demilitarise Educalion 4.960 1,5(K) Plan for Peace A,B.C Onside Ministrles Sustainable Global Gardens A,B,D 2,5(Kl Sunrise Diversity War Resisters Inlernaiional Total 41,960 Key to erlterlA'. - Quker Work and wltntss; B- PeActsblllldlnt Jbd eonnltt resolutloll: C- Interfiltb ind tcllmenltal uDderstandln8• D- CElm#te ¢hn%t mltlgtAon Work i]J tht LK aDd o%erseas: E- Il'ork ltts f•rttd tthlgrnnts refugees. in¢ludkng dl1p1xt peopl¢- F_ Suit¥J••ble development,. Sustalnable development is no ILwfonEof thE crntna a8knwwhKh theo4rityodS ne8rarrt
THE EDITH MAUD ELLIS 1985 CHARITABI.E TRUST on its behalf by".
REGISTERED CHARITY NUMBER: 292835
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
FOR
EDITH MAUD ELLIS 1985 CHARITABLE TRUST
Tattersall Bailey Chartered Accountants 14A Main Street Cockermouth Cumbria CA13 9LQ
EDITH MAUD ELLIS 1985 CHARITABLE TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
| 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 |
EDITH MAUD ELLIS 1985 CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2024
The trustees present their report with the financial statements of the charity for the year ended 5 April 2024. 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
E Cave W Sender J Lingham R Carnall R A Chapman C Longstaff M S Bentley
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 ........................................... and signed on its behalf by:
.......................................................................... M S Bentley - Trustee
Page 1
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 2024.
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
Date: .............................................
Page 2
EDITH MAUD ELLIS 1985 CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 5 APRIL 2024
| Notes INCOME AND ENDOWMENTS FROM Investment income 2 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 |
5.4.24 Unrestricted funds £ 33,549 8,109 41,960 7,549 57,618 (29,658 ) (53,727 ) 1,241,604 1,187,877 |
5.4.23 Total funds £ 32,569 8,786 38,025 7,740 54,551 (185,158 ) (207,140 ) 1,448,744 1,241,604 |
|---|---|---|
The notes form part of these financial statements
Page 3
EDITH MAUD ELLIS 1985 CHARITABLE TRUST
BALANCE SHEET
5 APRIL 2024
| 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 Unrestricted funds 8 TOTAL FUNDS |
5.4.24 Unrestricted funds £ 1,146,412 43,985 (2,520 ) 41,465 1,187,877 1,187,877 1,187,877 1,187,877 |
5.4.23 Total funds £ 1,136,589 107,535 (2,520 ) 105,015 1,241,604 1,241,604 1,241,604 1,241,604 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. J Lingham - Trustee
The notes form part of these financial statements
Page 4
EDITH MAUD ELLIS 1985 CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
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 |
5.4.24 £ 89 33,460 33,549 |
5.4.23 £ 52 32,517 32,569 |
|---|---|---|
Page 5
continued...
EDITH MAUD ELLIS 1985 CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2024
3. RAISING FUNDS
Investment management costs
| Investment management costs | ||
|---|---|---|
| 5.4.24 | 5.4.23 | |
| £ | £ | |
| Portfolio management | 8,109 | 8,786 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 5 April 2024 nor for the year ended 5 April 2023.
| Trustees' expenses 5.4.24 £ Trustees' expenses 1,133 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 |
5.4.23 £ 1,104 Unrestricted funds £ 32,569 8,786 38,025 7,740 54,551 (185,158 ) (207,140 ) 1,448,744 1,241,604 |
|---|---|
Page 6
continued...
EDITH MAUD ELLIS 1985 CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2024
6. FIXED ASSET INVESTMENTS
| MARKET VALUE At 6 April 2023 Additions Disposals Revaluations At 5 April 2024 NET BOOK VALUE At 5 April 2024 At 5 April 2023 There were £433,142 investment assets outside the UK. Cost or valuation at 5 April 2024 is represented by: Valuation in 2024 Valuation in 2023 Valuation in 2022 Valuation in 2021 Valuation in 2020 Cost |
Listed investments £ 1,073,905 323,450 (278,171 ) (35,456 ) 1,083,728 1,083,728 1,073,905 Listed investments £ 9,823 (246,621 ) (37,661 ) 232,666 123,453 1,002,068 1,083,728 |
Unlisted investments £ 62,684 - - - 62,684 62,684 62,684 Unlisted investments £ - (9,900 ) - (7,640 ) 37 80,187 62,684 |
Totals £ 1,136,589 323,450 (278,171 ) (35,456 ) 1,146,412 1,146,412 1,136,589 Totals £ 9,823 (256,521 ) (37,661 ) 225,026 123,490 1,082,255 1,146,412 |
|---|---|---|---|
If Fixed asset investments had not been revalued they would have been included at the following historical cost:
| Cost Aggregate provisions |
5.4.24 £ 1,151,678 5,266 |
5.4.23 £ 1,106,399 (30,189 ) |
|---|---|---|
Fixed asset investments were valued on an open market basis on 5 April 2024 by Rathbone and King Shaxson..
continued...
Page 7
EDITH MAUD ELLIS 1985 CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2024
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 as Unrestricted funds General fund Designated capital fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Designated capital fund TOTAL FUNDS |
At 6.4.23 £ 9,937 1,231,667 1,241,604 1,241,604 follows: Incoming resources £ 33,549 - 33,549 33,549 At 6.4.22 £ 3,134 1,445,610 1,448,744 1,448,744 |
Net movement in funds £ (15,960 ) (37,767 ) (53,727 ) (53,727 ) Resources expended £ (49,509 ) (8,109 ) (57,618 ) (57,618 ) Net movement in funds £ (13,197 ) (193,943 ) (207,140 ) (207,140 ) |
5.4.24 5.4.23 £ £ 2,520 2,520 Transfers between At funds 5.4.24 £ £ 14,000 7,977 (14,000 ) 1,179,900 - 1,187,877 - 1,187,877 Gains and losses £ Movement in funds £ - (15,960 ) (29,658 ) (37,767 ) (29,658 ) (53,727 ) (29,658 ) (53,727 ) Transfers between At funds £ 5.4.23 £ 20,000 9,937 (20,000 ) 1,231,667 - 1,241,604 - 1,241,604 |
|---|---|---|---|
continued...
Page 8
EDITH MAUD ELLIS 1985 CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2024
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 32,569 (45,766 ) Designated capital fund - (8,785 ) 32,569 (54,551 ) TOTAL FUNDS 32,569 (54,551 ) A current year 12 months and prior year 12 months combined position is as follows: Net movement At 6.4.22 £ in funds £ Unrestricted funds General fund 3,134 (29,157 ) Designated capital fund 1,445,610 (231,710 ) 1,448,744 (260,867 ) TOTAL FUNDS 1,448,744 (260,867 ) |
Gains and losses £ Movement in funds £ - (13,197 ) (185,158 ) (193,943 ) (185,158 ) (207,140 ) (185,158 ) (207,140 ) Transfers between At funds £ 5.4.24 £ 34,000 7,977 (34,000 ) 1,179,900 - 1,187,877 - 1,187,877 |
|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 66,118 | (95,275 ) | - | (29,157 ) |
| Designated capital fund | - | (16,894 ) | (214,816 ) | (231,710 ) |
| 66,118 | (112,169 ) | (214,816 ) | (260,867 ) | |
| TOTAL FUNDS | 66,118 | (112,169 ) | (214,816 ) | (260,867 ) |
continued...
Page 9
EDITH MAUD ELLIS 1985 CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2024
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 5 April 2024.
Page 10
EDITH MAUD ELLIS 1985 CHARITABLE TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024
| 5.4.24 | 5.4.23 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Investment income | ||
| Deposit account interest | 89 | 52 |
| Curr asset inv income | 33,460 | 32,517 |
| 33,549 | 32,569 | |
| Total incoming resources | 33,549 | 32,569 |
| EXPENDITURE | ||
| Investment management costs | ||
| Portfolio management | 8,109 | 8,786 |
| Charitable activities | ||
| Grants to institutions | 41,960 | 38,025 |
| Support costs | ||
| Management | ||
| Advertising | 151 | 547 |
| Finance | ||
| Trustees' expenses | 1,133 | 1,104 |
| Governance costs | ||
| Sundries | 427 | 816 |
| Accountancy and legal fees | 2,564 | 2,520 |
| Administrator's fees | 3,274 | 2,753 |
| 6,265 | 6,089 | |
| Total resources expended | 57,618 | 54,551 |
| Net expenditure before gains and losses | (24,069 ) | (21,982 ) |
| Realised recognised gains and losses | ||
| Realised gains/(losses) on fixed asset investments | (29,658 ) | (185,158 ) |
| Net expenditure | (53,727 ) | (207,140 ) |
This page does not form part of the statutory financial statements
Page 11
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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 2024.
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:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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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
Date: .............................................
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