2023-04-05-accounts

	The McCorquodale Charitable Trust	The McCorquodale Charitable Trust	The McCorquodale Charitable Trust	297697	297697	CC16a
	For the period from	Period start date 06.04.2022	To		Period end date 05.04.2023
Section A Receipts and payments
A1 Receipts	Unrestricted funds to the nearest £ 45,904 49 - - - - - - 45,953 - - - 45,953 43,000 - - - - 43,000 - - - 43,000 2,953 2,551 5,504	Restricted funds to the nearest £ - - - - - - - - - - - - - - - - - - - - - - - -	Endowment funds to the nearest £ 1,017 - - - - - - 1,017 1,664,998 - 1,664,998 1,666,015 102,250 10,738 20,057 780 55 - - - - 133,880 1,505,748 - 1,505,748 1,639,627 26,388 107,038 133,426		Total funds to the nearest £ 45,904 1,066 - - - - - - 46,970 1,664,998 - 1,664,998 1,711,968 145,250 10,738 20,057 780 55 - - - - 176,880 1,505,748 - 1,505,748 1,682,627 29,341 - 109,589 138,930	Last year to the nearest £
Income from investments	45,904					39,417
Interest received	49					83
Other receipts	-					92,390
	-					-
	-					-
	-					-
	-					-
	-					-
Sub total(Gross income for AR)	45,953					131,890
A2 Asset and investment sales, (see table).
Sale of investments	-					1,033,518
	-					-
Sub total	-					1,033,518
Total receipts A3 Payments
						1,165,408
Grants awarded	43,000					83,000
Investment management fees (VAT inclusive)						8,594
Trust administration fees (VAT inclusive)						7,924
Independent Examiners fees						780
Trustee fees
	-					-
	-					-
	-					-
	-					-
**Sub total **	43,000					100,298
A4 Asset and investment purchases, (see table)
Investmentpurchases	-					1,003,639
	-
**Sub total **	-					1,003,639
Total payments Net of receipts/(payments) A5 Transfers between funds A6 Cash funds last year end Cash funds this year end
						1,103,937
	2,953	-	26,388		29,341	61,471
					-	-
	2,551		107,038		109,589	48,118
	5,504	-	133,426		138,930	109,589

CCXX R1 accounts (SS)

13/12/2023

1

Section B Statement of assets and liabilities at the end of the period	Section B Statement of assets and liabilities at the end of the period	Section B Statement of assets and liabilities at the end of the period
Categories Signed by one or two trustees on behalf of all the trustees B5 Liabilities B3 Investment assets B2 Other monetary assets B4 Assets retained for the charity’s own use B1 Cash funds	Details Investment portfolio Details Total cash funds (agree balances with receipts and payments account(s)) Capital account Income account Details Details Details Signature	Unrestricted funds Restricted funds to nearest £ to nearest £ - - 5,504 - - - 5,504 - OK OK Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - - - - - - - - - Fund to which asset belongs Cost (optional) Endowment - - - - - Fund to which asset belongs Cost (optional) - - - - - - - - - Fund to which liability relates Amount due (optional) - - - - Print Name David Breach on behalf of Ludlow Trust CompanyLimited	Endowment funds to nearest £
			133,426
			-
			-
			133,426
			OK
			Endowment funds to nearest £
			-
			-
			-
			-
			-
			-
			Current value (optional)
			2,208,237
			-
			-
			-
			-
			Current value (optional)
			-
			-
			-
			-
			-
			-
			-
			-
			-
			When due (optional)
			Date of approval
		David Breach on behalf of Ludlow Trust CompanyLimited

CCXX R2 accounts (SS)

13/12/2023

2

Trustees’ Annual Report for the period

From 06 April 2022 To 05 April 2023

Charity name: The McCorquodale Charitable Trust Charity registration number: 297697

Objectives and Activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	The objects of the charity are to pay the capital or income to such charitable body association or organization as the Trustees may in their absolute discretion think fit.
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 and 1.19	In furtherance of the charity’s objects for the public benefit the trustees provide grants.
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	In determining the charity’s activities, the trustees have had regard to the Charity Commission’s guidance on public benefit.

Additional information (optional) Youmay choose toincludefurtherstatementswhererelevant about:	Additional information (optional) Youmay choose toincludefurtherstatementswhererelevant about:	Additional information (optional) Youmay choose toincludefurtherstatementswhererelevant about:
	SORP reference
Policy on grant making	Para 1.38
Policy on social investment including program related investment	Para 1.38
Contribution made by volunteers	Para 1.38
Other

Achievements and Performance

	SORP reference
Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.	Para 1.20	During the year under review the charity made grants to 36 charities totalling £145,250.

Additional information (optional) You may choose to include further statements where relevant about:

Achievements against objectives set	Para 1.41
Performance of fundraising activities against objectives set	Para 1.41
Investment performance against objectives	Para 1.41
Other

Financial Review

Financial Review
Review of the charity’s financial position at the end of the period	Para 1.21	At the end of the reporting period the charity had free reserves of £5,504 (2022: £2,551). In addition to the free reserves the charity has bank balances of £133,426 (2022: £107,038) and investments valued at £2,208,237 within the expendable endowment fund.
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	The Trustees pursue a policy of maintaining a free reserve available to be spent in the furtherance of the charity’s objectives as well as covering future needs, opportunities, contingencies and risks.
Amount of reserves held	Para 1.22
Reasons for holding zero reserves	Para 1.22
Details of fund materially in deficit	Para 1.24
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23

Additional information (optional) You may choose to include further statements where relevant about: The charity’s principal sources of funds (including any fundraising) Para 1.47 Investment policy and objectives including any social investment policy adopted Para 1.46

A description of the principal risks facing the charity Para 1.46 Expendable endowment funds are those which are required to be invested to Other produce income but which may be transferred to unrestricted funds at the discretion of the trustees in order that they may be expended in furtherance of the charity’s objectives. Unrestricted income 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 toher purposes.

Structure, Governance and Management

Description of charity’s trusts:
Type of governing document (trust deed, royal charter)	Para 1.25	Trust deed dated 29 November 1986
How is the charity constituted? (e.g unincorporated association, CIO)	Para 1.25	Trust
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	Trustees are appointed by the settlor during his lifetime and subject to this by the trustees.

Additional information (optional) You may choose to include further statements where relevant about:

Policies and procedures adopted for the induction and training of trustees	Para 1.51
The charity’s organisational structure and any wider network with which the charity works	Para 1.51
Relationship with any related parties	Para 1.51	No trustee received any remuneration in the year under review. Colin Norman McCorquodale was reimbursed for expenses amounting to £55 during the year under review. Ludlow Trust Company Limited was paid £20,027 for trust administration services during the year under review. These fees are authorized under clause 6 of the trust deed.
Other

Reference and Administrative details

Charity name	The McCorquodale Charitable Trust
Other name the charity uses
Registered charity number	297697
Charity’s principal address	Trustees Department 1stFloor, Tower Wharf Cheese Lane, Bristol BS2 0JJ

Names of the charity trustees who manage the charity

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18	Trustee name	Office (if any)	Dates acted if not for whole **year **	Name of person (or body) entitled to appoint trustee (ifany)
	Laura Stilwell
	Caroline Losley- Williams
	Colin Norman McCorquodale
	Ludlow Trust CompanyLimited

19 20

– Corporate trustees names of the directors at the date the report was approved Director name

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year

Funds held as custodian trustees on behalf of others

Description of the assets held in this capacity Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

Names and addresses of advisers (Optional information)

Type of adviser Name Address	Type of adviser Name Address	Type of adviser Name Address
Investment Managers	Coutts & Co	440 The Strand, London, WC2R 0QS
Bankers	Coutts & Co	440 The Strand, London, WC2R 0QS
Accountants	KJF Accounting Limited	17 Sheringham Avenue, Southgate, London, N14 4UB

Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations

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

Signed on behalf of the charity’s trustees

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Signature(s)
Full name(s) David Breach on behalf of Ludlow
Trust Company Limited
Position (eg Secretary,
Chair, etc)
Date
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CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examine￿5 Report Report to the trusteesl members of The Mccorquodale Charitable Trust On accounts for the year ended 5th April 2023 Charity no lif any) 297697 Set out on pages 1to2 (ren￿b?r lo iKlude Ihe page numbers tsf 4ddilional sheeisi I report to the trustees on my examination of the accounts ofthe above charity lllhe Trust") for the year ended 5thn April 2023. Responsibilities and As the charity trustees of the Trust. you are responsible for the preparation basis of report of the accounts in accordan￿ with the requirements of the Charities Act 2011 I'the Act.). I report in respect of my examination of Ihe Trust's accounts carried out under section 145 ofthe 2011 Act and in carying out my examination, I have followed Ihe appli&ible Directions given by the Charity Commission under section 14515llb) of the Act. I have completed my examination. I confinn that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect.. accounting records were not kepi in accordan￿ with sedion 130 of the Act or the accounts do not accord with the accounting records Independent examiner's statement I have no concems and have come aGross no other matters in conne¢tion with the examination to which attention should be drawn in order to enable proper understanding of the accounts to be reached. Signed: Date: 13-1L. Name: Mr Keith Felton Relevant professional qualification{s) or body (if any): ACCA Address: KJF Accounting Ltd, 17 Sheringham Avenue, Southgate, London N14 4UB Section B Disclosure Only complete if the examiner needs lo highlight matters of con￿rn (see CC32, Independent examination of charity accounts.- directions and guidance for examiners). IER October 2018

Glve here brfef details of any 6tems that the examiner wishes to disclose. IER October 2018