Charity Registra�on No. 294034
The Marquis of Stafford Charitable Trust
Unaudited financial statements For the year ended 5 April 2022
The Marquis of Stafford Charitable Trust
Contents
| Page | |
|---|---|
| Trustee's report | 1 - 4 |
| Independent examiner's report | 5 |
| Statement of fnancial ac�vi�es | 6 |
| Balance sheet | 7 |
| Notes to the fnancial statements | 8 - 9 |
The Marquis of Stafford Charitable Trust
Trustees' report
The Trustees have pleasure in presen�ng their report and the financial statements for the year ended 5 April 2022. The financial statements are prepared in accordance with the accoun�ng policies set out in note 1 to the financial statements and comply with the charity's cons�tu�on, applicable law and the requirements of the Statement of Recommended Prac�ce applicable to chari�es preparing their accounts in accordance with Financial Repor�ng Standard applicable in the UK and Republic of Ireland effec�ve 1 January 2019.
Objec�ves and ac�vi�es for the public benefit
The principal objec�ves and aims of the Trust are:
-
a) the Trustees shall stand possessed of the Trust Fund and the income thereof upon trust to pay or apply or cause to be paid or applied at such �me or �mes and in such manner as the Trustees shall in their discre�on think fit the capital of the Trust Fund in or towards the general purposes of such Charitable bodies or for such other purposes as shall be exclusively Charitable as the Trustees may from �me to �me decide.
-
b) is intended as an endowment to award dona�ons on an annual basisi to a selec�on of charitable causes. The current Trustees have recently taken office and during this period the Trustees have not made any awards as they formulate the focus of their ac�vity.
Review of progress and achievements
The Trustees donated £0 (2021 £19,124) to 0 (2021 10) chari�es during the year. A full list of these dona�ons made in 2021 appear in the notes to the accounts.
Reserves and fnancial review
All funds held by the charity are unrestricted. These are funds which can be used in accordance with the charitable objec�ves of the company at the discre�on of the Trustees. Reserves are reviewed on a regular basis and are held at such a level to ensure the ongoing financial stability and opera�on of the charity. The actual free reserves held at 5 April 2022 were £256,542 (2021 £100).
Principal funding sources
The principal funding sources for the Trust is from a deed of covenant.
Expenditure in the year has supported various chari�es as detailed in the notes to these accounts.
Page 1
The Marquis of Stafford Charitable Trust
Trustees' report (con�nued)
| Trustees | The Duke of Sutherland (re�red 18 June 2021) |
|---|---|
| The Duchess of Sutherland (re�red 18 June 2021) | |
| The Marquis of Staford (appointed 11 June 2021) | |
| The Marchioness of Staford (appointed 11 June 2021) | |
| Registered ofce | Ley Farm |
| Stetchworth | |
| Newmarket | |
| Sufolk | |
| CB8 9TX | |
| Independent Examiner | Jamie Younger CA |
| Safery Champness LLP | |
| Edinburgh Quay | |
| 133 Fountainbridge | |
| Edinburgh | |
| EH3 9BA | |
| Bankers | Waverton Investment Management Ltd |
| 16 Babmaes Street | |
| London | |
| SW1Y 6AH | |
| Charity Commission Registra�on Number | 294034 |
Page 2
The Marquis of Stafford Charitable Trust
Trustees' report (con�nued)
Structure, governance and management
Governing document
Under the Terms of the Se�lement made by Francis Egerton and dated 20 February 1986 as amended by a Resolu�on dated 21 June 2021, the Trustees hold the capital and income for exclusively charitable purposes according to the laws of England to be applied in such shares and manner as the trustees, in their absolute discre�on, think fit.
The Trust is registered with the Charity Commission under registra�on number 294034.
Appointment of Trustees
The Trustees work within the guidelines of the Trust Deed but there is no formal training or induc�on process in place.
Organisa�onal structure
The trust is managed by the two Trustees, the Marquis and Marchioness of Stafford. The Trust has no employees. The power to appoint Trustees is with the con�nuing Trustees.
Risk management
The Trustees have assessed the major risks to which the charity is exposed, in par�cular those related to the opera�ons and finances of the Trust, and are sa�sfied that systems are in place to mi�gate our exposure to the major risks.
Plans for future periods
The Trustees' future aims are to con�nue to meet the Charity's purposes as stated and to manage the affairs of the charity prudently and responsibly.
Page 3
The Marquis of Stafford Charitable Trust
Independent examiner's report
I report on the accounts of the Trust for the year ended 5 April 2022, which are set out on pages 6 to 9.
This report is made to the Trustees, as a body, in accordance with the terms of the engagement. My work has been undertaken to enable me to report my opinion as set out below and for no other purpose. To the fullest extent permi�ed by law, I do not accept or assume responsibility to anyone other than the charity and the Trustees, as a body, for my work or this report.
Respec�ve responsibili�es of Trustees and Independent Examiner
The charity's Trustees are responsible for the prepara�on of the accounts. The charity's Trustees consider that an audit is not required for this year under sec�on 144(2) of the Chari�es Act 2011 (the 2011Act) and that an independent examina�on is needed.
It is my responsibility to:
examine the accounts under sec�on 145 of the 2011 Act;
to follow the procedures laid down in the general Direc�ons given by the Charity Commission under sec�on 145(5)(b) of the 2011 Act; and
to state whether par�cular ma�ers have come to my a�en�on.
Basis of Independent Examiner's report
My examina�on was carried out in accordance with the General Direc�ons given by the Charity Commissioners. An examina�on includes a review of the accoun�ng records kept by the charity and a comparison of the accounts presented with those records. It also includes considera�on of any unusual items or disclosures in the accounts, and seeking explana�ons from you as Trustees concerning any such ma�ers. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those ma�ers set out in the statement below.
Independent examiner's statement
In connec�on with my examina�on, no ma�er has come to my a�en�on:
- which gives me reasonable cause to believe that, in any material respect, the requirements: to keep accoun�ng records in accordance with sec�on 130 of the 2011 Act; and
to prepare accounts which accord with the accoun�ng records and to comply with the accoun�ng requirements of the 2011 Act have not been met; or
- to which, in my opinion, a�en�on should be drawn in order to enable a proper understanding of the accounts to be reached.
Jamie Younger CA Saffery Champness LLP
Chartered Accountants
9 December 2022
......................... Edinburgh Quay 133 Fountainbridge Edinburgh EH3 9BA
Page 5
The Marquis of Stafford Charitable Trust
For the year ended 5 April 2022
| Unrestricted Notes income £ Income Dividends 2,173 Compensa�on from the bank Dona�ons Total income 2,173 Expenditure Charitable ac�vi�es: Dona�ons 2 Legal and professional fees Governance costs (1,110) Total expenditure (1,110) Net incoming/(outgoing) resources before other recognised gains and losses 1,063 Other recognised gains Bank interest receieved Realised gain on sale of investments Unrealised loss on investments Net movement in funds 1,063 Reconcilia�on of funds: Total funds brought forward 100 Total funds carried forward 1,163 |
Capital funds £ 249,347 249,347 (257) (1,110) (1,367) 247,980 7,550 (151) 7,399 255,379 255,379 |
Total 2022 £ 2,173 249,347 251,520 (257) (2,220) (2,477) 249,043 7,550 (151) 7,399 256,442 100 256,542 |
Total 2021 £ 100 1,900 2,000 (19,124) (600) (19,724) (17,724) (7) 7 (17,717) 17,817 100 |
|---|---|---|---|
The notes on pages 8 and 9 form part of these financial statements.
All ac�vi�es of the Trust are classified as con�nuing.
Page 6
The Marquis of Stafford Charitable Trust
Balance sheet
As at 5 April 2022
| Fixed assets Investments 3 Current assets Other debtors Cash at bank and in hand Creditors: amounts falling due within one year Accruals Net current assets Total assets less current liabili�es The funds of the charity: Unrestricted designated funds Unrestricted income funds |
£ 1,200 13,989 15,189 2,220 |
2022 £ 243,573 12,969 256,542 255,379 1,163 256,542 |
£ 600 100 700 600 |
2021 £ 100 |
|---|---|---|---|---|
| 100 | ||||
| 100 |
||||
| 100 |
The notes on pages 8 to 9 form part of these financial statements.
Page 7
The Marquis of Stafford Charitable Trust
Notes to the financial statements For the year ended 5 April 2022
1 Accoun�ng policies
1.1 Accoun�ng conven�on
The accounts (financial statements) have been prepared under the historical cost conven�on with items recognised at cost or transac�on value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Prac�ce: Accoun�ng and Repor�ng by Chari�es preparing their accounts in accordance with the Financial Repor�ng Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Repor�ng Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Chari�es Act 2011.
The Trust cons�tutes a public benefit en�ty as defined by FRS 102.
The financial statements are prepared in sterling, which is the func�onal currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest £.
The principal accoun�ng policies adopted are set out below.
1.2 Compliance with accoun�ng standards
The financial informa�on is not intended to achieve full compliance with the provisions of UK Generally Accepted Accoun�ng Principles.
1.3 Income recogni�on
Investment income is accounted for on a received basis.
1.4 Expenditure recogni�on
Liabili�es are recognised as expenditure as soon as there is a legal or construc�ve obliga�on commi�ng the charity to that expenditure, it is probable that se�lement will be required and the amount of the obliga�on can be measured reliably.
Charitable ac�vi�es comprise costs that are directly a�ributable to the furtherance of achieving the chari�es objec�ves.
Governance costs comprise costs that directly relate to the governance of the charity.
1.5 Investments
Fixed asset investments are stated at cost less provision for diminu�on in value.
Page 8
The Marquis of Stafford Charitable Trust
Notes to the financial statements (con�nued) For the year ended 5 April 2022
2 Dona�ons made
| Registered number Bri�sh Heart Founda�on 225971 Cancer Research UK 1089464 Red Squirrel Survival Trust 1116947 Sense Scotland SC022097 Sightsavers 207544 Songbird Survival 1085281 The Game and Wildlife Conserva�on Trust 1112023 The Mertoun Gardens Trust 1113423 The Royal Na�onal Lifeboat Ins�tu�on 209603 The Tweed Founda�on SC011055 |
5 April 2022 £ |
5 April 2021 £ 2,000 2,000 2,000 2,000 2,000 2,000 2,000 100 2,000 3,024 |
|---|---|---|
| 19,124 |
3 Investments
| Listed | |
|---|---|
| investments | |
| £ | |
| Cost | |
| At 6 April 2021 | |
| Addi�ons | 492,433 |
| Disposals | (248,860) |
| At 5 April 2022 | 243,573 |
Page 9