Trustees’ Annual Report for the period
From 06/04/2020 Period start date To 05/04/2021 Period end date
Charity name: THE SEVEN FIFTY TRUST
Charity registration number: 298886
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | The Trust Deed’s objects are wide: to support general charitable purposes. But the Trustees exercise their discretion in supporting the advancement of the Christian religion in the UK and throughout the world. |
| 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 |
The sole activity of the charity in the current year has been to award grants, and one loan to an unrelated Charity, in accordance with the Trust Deed. |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. |
Additional information (optional)
You may choose to include further statements where relevant about:
| SORP reference | ||
|---|---|---|
| Policy on grant making | Para 1.38 | The Trustees do not accept any unsolicited requests for grants. |
| Policy on social investment including program related investment |
Para 1.38 |
| Contribution made by volunteers |
Para 1.38 | A suitably qualified volunteer has acted as Independent Examiner. He is in no other way associated with the Trust. |
|---|---|---|
| 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 | The charity has continued in a most satisfactory manner during the year. The Trust made donations to twenty seven organisations or individuals totalling £99,854 (2020: £109,725) and a loan to an unrelated Charity of £10,670 |
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 | N/A |
| 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 | Funds available are sufficient to permit the Trust to continue in operation in the medium term given the Trustees’ intention to ensure donations and grants do not reduce the Trust’s resources materially and allow for an increase in giving in the future subject to investment performance |
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | The policy of the trustees continues to be gradually to increase the Trust’s reserves so as to increase the income available for distribution. |
| Amount of reserves held | Para 1.22 | £3,834,207 |
| Reasons for holding zero reserves |
Para 1.22 | N/A |
| Details of fund materially in deficit |
Para 1.24 | None |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | N/A |
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 | |
| Other |
Structure, Governance and Management
| Description of charity’s trusts: |
||
|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 | Charitable Trust Deed |
| 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 | Appointed by Board of 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 | |
| Other |
Reference and Administrative details
| Charity name | The Seven Fifty Trust |
|---|---|
| Other name the charity uses | N/A |
| Registered charity number | 298886 |
Charity’s principal address 20 Gorringe Road, Eastbourne BN22 8XL
Names of the charity trustees who manage the charity
| Trustee name | Office (if any) | Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee (if any) |
|
|---|---|---|---|---|
| 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 |
Andrew Charles Julian Cornes |
Chair | ||
| Katherine Elizabeth Cornes |
||||
| Jonathan Jackson Clark |
||||
| Mary Pauline Clark |
||||
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 | |
|---|---|---|
| Andrew Charles Julian Cornes |
||
| Katherine Elizabeth Cornes | ||
| Jonathan Jackson Clark | ||
| Mary Pauline Clark | ||
Funds held as custodian trustees on behalf of others
| Description of the assets held in this capacity |
N/A |
|---|---|
| Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects |
N/A |
| Details of arrangements for safe custody and segregation of such assets from the charity’s own assets |
N/A |
Additional information (optional)
Names and addresses of advisers (Optional information)
Type of Name Address adviser
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 Signature(s) Andrew Cornes Full name(s) Andrew Charles Julian Cornes Position (eg Chair Secretary, Chair, etc)
Date 17/01/2022
| Charity Name | Charity Name | Charity Name | Charity Name | Charity Name | CharityNumber | CharityNumber | CC16a | ||
|---|---|---|---|---|---|---|---|---|---|
| The Seven Fifty Trust | 298886 | ||||||||
| Receipts andpayments accounts | |||||||||
| For the period from |
To | ||||||||
| 6/4/20 | 5/4/21 | ||||||||
| Section A Receipts and payments | |||||||||
| Unrestricted funds |
Restricted funds | Endowment funds |
Total funds | Last year | |||||
| to the nearest £ | to the nearest £ | to the nearest £ | to the nearest £ | to the nearest £ | |||||
| A1 Receipts | |||||||||
| Investments Dividends/Interest | 48,642 | - | - | 48,642 | 53,025 | ||||
| Voluntary Receipts | 23,154 | - | - | 23,154 | 38,000 | ||||
| Tax Reclaims | 5,789 | - | - | 5,789 | 12,500 | ||||
| - 0 | - | - | - | - | |||||
| - 0 | - | - | - | - | |||||
| - 0 | - | - | - | - | |||||
| - 0 | - | - | - | - | |||||
| - 0 | - | - | - | - | |||||
| Sub total_(Gross income for AR) _ | 77,585 |
- | - | 77,585 | 103,525 | ||||
| A2 Asset and investment sales, (see table). |
|||||||||
| Proceeds of share disposals | 363,585 | - 0 | - 0 | 363,585 | 191,265 | ||||
| - 0 | - 0 | - 0 | - | - 0 | |||||
| Sub total | 363,585 |
- 0 | - 0 | 363,585 | 191,265 | ||||
| **Total receipts ** | 441,170 |
- 0 | - 0 | 441,170 | 294,790 | ||||
| A3 Payments |
CCXX R1 accounts (SS)
03/01/2021
1
| Investment Management Costs | 14,512 | - | - | 14,512 | 14,489 | ||||
|---|---|---|---|---|---|---|---|---|---|
| Governance Costs | - 0 | - | - | - | - | ||||
| Costs of Charitable Activities | 99,854 | - | - | 99,854 | 109,725 | ||||
| Loan to unrelated Charity | 10,670 | - | - | 10,670 | - | ||||
| - 0 | - | - | - | - | |||||
| - 0 | - | - | - | - | |||||
| - 0 | - | - | - | - | |||||
| - 0 | - | - | - | - | |||||
| - 0 | - | - | - | - | |||||
| **Sub total ** | 125,036 |
- | - | 125,036 | 124,214 | ||||
| A4 Asset and investment purchases,(see table) |
|||||||||
| Purchase of shares | 341,256 | -0 | -0 | 341,256 | 153,891 | ||||
| - 0 | - 0 | - 0 | - | - | |||||
| **Sub total ** | 341,256 |
-0 | -0 | 341,256 | 153,891 | ||||
| **Totalpayments ** | 466,292 |
- 0 | - 0 | 466,292 | 278,105 | ||||
| **Net of receipts/(payments) ** | - 25,122 |
- | - | - 25,122 |
16,685 | ||||
| A5 Transfers between funds | - 0 | - | - | - | - | ||||
| A6 Cash funds last year end | 95,642 | - | - | 95,642 | 78,957 | ||||
| **Cash funds this year end ** | 70,520 |
- | - | 70,520 | 95,642 | ||||
| Section B Statement of assets and liabilities at the end of the period | |||||||||
| Categories | Details | Unrestricted funds |
Restricted funds | Endowment funds |
|||||
| to nearest £ | to nearest £ | to nearest £ |
CCXX R2 accounts (SS)
03/01/2021
2
| B1 Cash funds | Bank and Deposits | 70,520 | - | - | |||
|---|---|---|---|---|---|---|---|
| - | - | - | |||||
| - | - | - | |||||
| Total cash funds | 70,520 | - | - | ||||
| (agree balances with receipts and payments account(s)) |
OK | OK | |||||
| Unrestricted funds |
Restricted funds | Endowment funds |
|||||
| Details | to nearest £ | to nearest £ | to nearest £ | ||||
| B2 Other monetary assets | Tax Reclaim Due | - | - | - | |||
| Loan to unrelated Charity | 10,670 | - | - | ||||
| - | - | - | |||||
| - | - | - | |||||
| - | - | - | |||||
| - | - | - | |||||
| Details | Fund to which asset belongs |
Cost (optional) | Current value (optional) |
||||
| B3 Investment assets | Investment Assets | Unrestricted | - | 3,334,207 | |||
| Charitable property | Unrestricted | 500,000 | - | ||||
| - | - | ||||||
| - | - | ||||||
| - | - | ||||||
| Details | Fund to which asset belongs |
Cost (optional) | Current value (optional) |
CCXX R3 accounts (SS)
03/01/2021
3
| B4 Assets retained for the charity’s own use |
- | - | |||||||
|---|---|---|---|---|---|---|---|---|---|
| - | - | ||||||||
| - | - | ||||||||
| - | - | ||||||||
| - | - | ||||||||
| - | - | ||||||||
| - | - | ||||||||
| - | - | ||||||||
| - | - | ||||||||
| Details | Fund to which liability relates |
Amount due (optional) |
When due (optional) |
||||||
| B5 Liabilities | - | ||||||||
| - | |||||||||
| - | |||||||||
| - | |||||||||
| - | |||||||||
| Signed by one or two trustees on behalf of all the trustees |
Signature | Print Name | Date of approval | ||||||
| Andrew Cornes | ANDREW CORNES | 8/1/22 | |||||||
| Katherine Cornes | KATHERINE CORNES | 8/1/22 |
CCXX R4 accounts (SS)
03/01/2021
4
Independent examiner's report on the accounts
Section A Independent Examiner’s Report
Report to the trustees/ Seven Fifty Trust members of
On accounts for the year 5 April 2021 ended
Charity no 298886 (if any)
Set out on pages
(remember to include the page numbers of additional sheets)
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 5 April 2021.
Responsibilities and As the charity trustees, you are responsible for the preparation of the basis of report accounts in accordance with 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 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent I have completed my examination. I confirm that no material matters have examiner's statement come to my attention in connection with the examination which gives me cause to believe that in, any material respect,:
-
the accounting records were not kept in accordance with section 130 of the Act; or
-
the accounts did not accord with the accounting records; or
-
• the accounts did 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.
Signed:[Andrew N Russell] Date: 13 January 2022 Name: Andrew Neville Russell
1
October 2018
IER
Chartered Accountant
Relevant professional qualification(s) or body (if any):
Address: 5 Walford House 20 Silverdale Road Eastbourne BN20 7AZ
Section B Disclosure
Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
2
October 2018
IER
No items to disclose.
Give here details of any items that the examiner wishes to disclose .
3
October 2018
IER