2022-04-05-accounts - The Seven Fifty Trust

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Trustees’ Annual Report for the period

From 06/04/2021 Period start date To 05/04/2022 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 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 £100792 (2020: £99854)

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	£3,973,070
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)
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 16/01/2023

	Charity Name	Charity Name	Charity Name	CharityNumber	CharityNumber	CC16a
	The Seven Fifty Trust			298886
	Receipts andpayments accounts
	For the period from		To
		6/4/21			5/4/22

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	53,123	-	-		53,123	48,642
Voluntary Receipts	21,525	-	-		21,525	23,154
Tax Reclaims	- 0	-	-		-	5,789
Partial repayment of loan to unrelated charity	3,556	-	-		3,556	-
	- 0	-	-		-	-
	- 0	-	-		-	-
	- 0	-	-		-	-
	- 0	-	-		-	-
*Sub total*_(Gross income for AR) _	78,204	-	-		78,204	77,585

A2 Asset and investment sales, (see table).
Proceeds of share disposals	380,391	- 0	- 0		380,391	363,585
	- 0	- 0	- 0		-	- 0
*Sub total*	380,391	- 0	- 0		380,391	363,585

**Total receipts **	458,595	- 0	- 0		458,595	441,170

A3 Payments

CCXX R1 accounts (SS)

03/01/2021

Investment Management Costs	17,230	-	-	17,230	14,512
Governance Costs	- 0	-	-	-	-
Costs of Charitable Activities	100,792	-	-	100,792	99,854
	- 0	-	-	-	10,670
	- 0	-	-	-	-
	- 0	-	-	-	-
	- 0	-	-	-	-
	- 0	-	-	-	-
	- 0	-	-	-	-
**Sub total **	118,022	-	-	118,022	125,036

A4 Asset and investment purchases,(see table)
Purchase of shares	396,219	-0	-0	396,219	341,256
		- 0	- 0	-	-
**Sub total **	396,219	-0	-0	396,219	341,256

**Totalpayments **	514,241	- 0	- 0	514,241	466,292

**Net of receipts/(payments) **	- 55,646	-	-	- 55,646	25,122
A5 Transfers between funds	- 0	-	-	-	-
A6 Cash funds last year end	70,520	-	-	70,520	95,642
**Cash funds this year end **	14,874	-	-	14,874	70,520


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

B1 Cash funds	Bank and Deposits	14,874	-	-
		-	-	-
		-	-	-
	*Total cash funds*	14,874	-	-
	(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	5,381	-	-
	Loan to another Charity	7,113	-	-
		-	-	-
		-	-	-
		-	-	-
		-	-	-

	Details	Fund to which asset belongs	Cost (optional)	Current value (optional)
B3 Investment assets	Investment Assets	Unrestricted	-	3,473,070
	Charitable property	Unrestricted	500,000	-
			-	-
			-	-
			-	-

	Details	Fund to which asset belongs	Cost (optional)	Current value (optional)

CCXX R3 accounts (SS)

03/01/2021

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		10/11/2022
	*Katherine Cornes*	KATHERINE CORNES		10/11/22

CCXX R4 accounts (SS)

03/01/2021

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 2022 Charity no 298886 ended (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 2022.

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 examiner's statement

I have completed my examination. I confirm 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,:

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 December 2022 Name: Andrew Neville Russell Chartered Accountant Relevant professional qualification(s) or body (if any): Address: 5 Walford House 20 Silverdale Road Eastbourne BN20 7AZ

October 2018

IER

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).

Give here details of any items that the examiner wishes to disclose .

No items to disclose.

October 2018

IER