2023-12-31-accounts - The Alexander Fund

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THE ALEXANDER FUND ARe istered Charit No. 303765 TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31ST DECEMBER 2023

the level of income reserves required at their meetings held four times a year. RISKS The charity is exposed to fluctuations in the stock market. In selecting investments, the trustees follow advice given by Rathbones (Incorporating Investec Wealth & Investment), subject to their scrutiny of each quarterly report. ORGANISATIONAL STRUCTURE The Charity is presently managed by 6 trustees. The clerk to the trustees is responsible for the day-to-day running of the Charity and reports to the trustees at each of 4 meetings held in the financial year. The trustees applied to have the scheme altered so that the minimum number of trustees at any one time can be five and the maximum eight. The paperwork to achieve this was executed and an online submission was made to the Charity Commission on 05.06.2014. APPOINTMENT OF TRUSTEES Trustees are chosen by personal knowledge of the current trustees from among members or former members of the Scout Association. The continuing trustees appoint the new trustee by resolution. ANNUAL REPORT The objects of the charity The objects of the Charity are set out in the Scheme of 1994 as follows: (a) The income of the Endowment Fund and the income and property of the Expendable Fund shall be applied in furthering the aims of the Scout Association within the London Boroughs of Lambeth and Wandsworth. (b) The income of the Endowment Fund not required to be expended as aforesaid shall form part of the Expendable Fund. The objects of the Charity as mentioned above are intended to cover Public Benefit as defined in the Charities Act 2011, Summary of policies adopted in order to further the charity's objects The trustees award grants to members of the Scout Association in the London Boroughs of Lambeth and Wandsworth to enable them to attend Scout camps. Grants are also awarded to improve facilities at Scout camps and halls for Scout meetings, and for training.

{iv) State whether applicable accounting standards have been followed, subject to any material departures and explained in the financial statements. Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation. (v) The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (accounts and reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and er irregularities. r John Evans (Chair of trustees) Date

THE ALEXANDER FUND ARe istered Charit No. 303765 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023

THE ALEXANDER FUND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 CONTENTS PAGE REPORT TO THE TRUSTEES REPORT OF THE INDEPENDENT EXAMINER GENERAL INFORMATION FINANCIAL STATEMENTS Notes to the Financial Statements Balance Sheet Statement of Financial Activities Capital Account Income Account Schedule of Grants 10 Schedule of Creditors Schedule of Stocks and Shares 12-17

THE ALEXANDER FUND REPORT TO THE TRUSTEES We have prepared the financial statements set out on pages 5 to 17 from the records of the Trust maintained by the trustees and provided to us. The total market value of the securities was:. /0 INCREASEI DECREASE -0.29 /0 3,96 % 31.12.2023 31.12.2022 £1,124.469 £1,127,718 £496,937 £477,992 £1,203,266 £1,127,874 Endowment Fund Expendable Fund Broome Expendable Fund The income received was'.- /0 INCREASEI DECREASE -9.66 % -0.35 % 31.12.2023 £29,179 £16,151 £17,241 31.12.2022 £32,300 £16,208 £15,439 Endowment Fund Expendable Fund Broome Expendable Fund Under Section 145 (1) of the Charities Act 2011 the trustees may elect either:_ (a) to have the accounts examined by an independent examiner., or (b) to have the accounts audited by a person qualified under the definition contained in Section 144 (2) of the said Act. The trustees have elected to appoint Newton & Garner Ltd, chartered accountants, to independently examine the accounts in accordance with the above provisions, and their report is contained in these financial statements. WINCKWORTH SHERWOOD LLP DATED

THE ALEXANDER FUND CHARITY NO. 303765 YEAR ENDED 31ST DECEMBER 2023 INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE ALEXANDER FUND I report to the trustees on my examination of the accounts of the above charity {"the Trust") for the year ended 3181 December 2023, which are set out on pages 5 to 17. Res onsibilities and basis of re ort As the charity's trustees, 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 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. Inde endent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the which gives me cause to believe that in, any material respect.. the accounting records were not kept in accordance with section 130 of the Charities 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. Robert Knight FCCA ATII Newton & Garner Limited Chartered Accountants BUILDING 2 30 FRIERN PARK NORTH FINCHLEY LONDON N12 9DA DATE: 26th June 2024

THE ALEXANDER FUND GENERAL INFORMATION DATE: 1st January 1964 GOVERNING INSTRUMENT: Scheme regulated by the High Court {Chancery Division) of 20 January 1964. as varied by schemes of the Charity Commissioners dated 20 July 1987 and 18 April 1994 as amended by resloution dated 6 March 2014. ORIGINAL TRUSTEES.. Not known PRESENT TRUSTEES.. Miss Hannah Crampton Christopher John Evans lan Malcolm Andrews Gary Raymond Cooper Gavin Crockett Ferguson Ms Rosemary Frances Merricks TRUST PERIOD: In perpetuity BENEFICIAL TERMS AND BENEFICIARIES: The income of the Endowment Fund and the income and property of the Expendable Fund shall be applied in furthering the aims of the Scout Association within the London Boroughs of Lambeth and Wandsworth. The income of the Endowment Fund not required to be expended as aforesaid shall form part of the Expendable Fund. ADMINISTRATIVE TERMS: There shall be a minimum of 5 trustees. Continuing trustees shall appoint new trustees by resolution. The trustees shall meet at least once every 3 months. CAPITAL AND INCOME TAX This is a charitable trust and thereby enjoys certaln TREATMENT OF TRUST: taxation privileges. Income Tax Income of the Alexander Fund is exempt so far as it is applied for charitable purposes. Ca ital Gains Tax The Alexander Fund is exempt from CGT on gains applied for charitable purposes. Inheritance Tax Gifts to the Alexander Fund are generally exempt from IHT. Special rules apply to a charity in the form of a discretionary trust so that, provided the property is held

THE ALEXANDER FUND GENERAL INFORMATION contd: for charitable purposes only, it is not "relevant property" and there is no ten year anniversary charge under s64 IHTA 1984. SOLICITORS: Winckworth Sherwood LLP Arbor 255 Blackfriars Road London SE19AX STOCKBROKERS: Rathbones (Incorporating Investec Wealth & Investment) 30 Gresham Street London EC2V 7QN ANY OTHER INFORMATION: Keith Merrall the administrator does much of the day to day running of the Charity with help from the trustees.

THE ALEXANDER FUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST DECEMBER 2023 ACCOUNTING POLICIES Basis of Pre aration The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The trust constitutes a public benefit entity as defined by FRS 102. The trustees consider that there are no material uncertainties about the trust's ability to continue as a going concern. Reconciliation with revious Generall Acce ted Accountin Practice In preparing the accounts the trustees have considered whether in applying the accounting policies required by FRS102 and the Charities SORP FRS102 a restatement of comparative items was needed. No restatement has been required. Income Reco nition All income is recognised once the charity has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity, this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by our investment advisor of the dividend yield of the inveslment portfolio. Ex enditure reco nition 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 settlemenl will be required, and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accrual's basis. 2. Investments Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. The trust does not acquire put options, derivatives, or other complex financial instruments. The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to 5- Iconlinuedl

investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors. Realised ains and losses All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities 3. Grants Pa able The distributions are accounted for on the basis of actual payments made during the accounting period. {continuedl

THE ALEXANDER FUND BALANCE SHEET AS AT 31ST DECEMBER 2023 31.12.2023 31.12.2022 Stocks and shares Endowment Fund Expendable Fund Broome Expendable Fund 1,124,469.00 496,937.00 1,203,266.00 1,127,718.00 477,992.00 1,127,874.00 Rathbones - balances held Endowment Fund Expendable Fund Broome Expendable Fund 947.80 2,550.71 1,328.79 1,142.55 1,394.46 3,291.66 Winckworth Sheood client deposit account 37,000.64 44,372.63 Less creditors - per schedule on page 11 (6,280.80) (6,360.24) £2,860,219.14 £2,777,425.06 This is represented by:_ CAPITAL ACCOUNT (Page 8) 2,793,547.78 2,715,260.59 INCOME ACCOUNT (Page 9) 66,671.36 62,164.47 £2,860,219.14 £2,777,425.06 Weap e accounts of the Trust in ect of the period ended 2023 as set out o ges5to 17, 17 ristopher John Evans (Chair of trustees)

THE ALEXANDER FUND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31ST DECEMBER 2023 2023 2023 Income 2023 Total Funds 2022 Total FLJnds Income and Ex endilure Incomin resources Investment income - Endowment Fund (Page 9) Investment income - Expendable Fund (Page 91 Investment income - Broome Expendable Fund (Page g) Gross Interest 0.00 0.00 29,178.94 16,151.08 29,178.94 16,151.08 32,299.99 16,208.27 0.00 0.00 17.240.86 301.76 17,240.86 301.76 15,439.31 51.26 Total incoming resources Resources used Direct charitable ex enditure Dislribulions made Ischedulel Other expenditure Administration costs 0.00 62 872.64 62 872.64 63,998.83 0.00 0.00 31,217.84 47,727.43 1,188.32 9,450.00 47,727.43 1,188.32 40,667.84 61,721.94 1,188.32 37,395.83 Total resources used Nel incomin out oin for the ear Other reco nised ains and losses Gains and losses on investments:. Realised Endowment Fund Expendable Fund Broome Expendable Fund Unre81ised Endowment Fund Expendable Fund Broome Expendable Fund 31217.84 58 365.75 89 583.59 100,306.09 resources 131,217.84) 4,506.89 {26,710.95} (36,307.261 439.79 87.74 11,788.23 0.00 0.00 0.00 439.79 87.74 11,788.23 (27.851 (19,520.001 (37,639.261 4,021.92 23,451.94 69,715.41 0.00 0.00 0.00 4,021.92 23,451.94 69,715.41 (54,094.891 (62,694.641 (164,655.691 Nel movement in funds Balances brought forward at 1st January 2023 Balances carried forward al 31st December 2023 78,287.19 4,506.89 82,794.08 (374,939.591 2,715,260.59 62,164.47 2,777,425.06 3,152,364.65 £2,793,547.78 £66,671.36 £2,860,219.14 £2,777,425.06

THE ALEXANDER FUND CAPITAL ACCOUNT YEAR ENDED 31ST DECEMBER 2023 31.12.2023 2,715,260.59 31.12.2022 3,083,848.75 Balance brought forward at 1 st January 2023 Add: Revaluation of stocks and shares Endowment Fund Expendable Fund Broome Expendable Fund 4,021.92 23,451.94 69,715.41 (54,094.89) (62,694.64) (164,655.69) ProfiU(Loss) on sale of stock and shares Endowment Fund (Page 14) Expendable Fund (Page 15) Broome Expendable Fund (Page 17) 439.79 87.74 11,788.23 (27.85) (19,520.00) (37,639.26) 2,824,765.62 2,745,216.42 Less: Legal, accountancy, taxation and administration charges 7,875.00 6,200.00 VAT thereon 1,575.00 1,240.00 Disbursements 39.44 334.38 Secretarial fees 600.00 700.00 Newton & Garner independent examination fees 1,425.00 1,350.00 VAT thereon 285.00 270,00 Rathbones - Investment management charges 19,418.40 19,861.45 Balance carried forward at 31 st December 2023 £2,793,547.78 £2,715,260.59

THE ALEXANDER FUND INCOME ACCOUNT YEAR ENDED 31ST DECEMBER 2023 31.12.2023 62,164.47 31.12.2022 68,515.90 Balance brought foward at 1st January 2023 Dividends and interest Endowment Fund (Page 14) Expendable Fund (Page 15) Broome Expendable Fund (Page 17) 29,178.94 16,151.08 17,240.86 32,299.99 16,208.27 15,439.31 Rathbones - Gross Interest 181.48 51.26 Winckworth Sherwood - gross interest 120.28 0.00 125.037.11 132,514.73 Less'.- Legal, accountancy, taxation and administration charges 7,875.00 6,200.00 VAT thereon 1,575.00 1,240.00 Grants (see page 10) 47,727.43 61,721.94 Dividends accumulated 0.00 0.00 Marsh Limited - Indemnity Insurance 1,188.32 1,188.32 Balance carried forward as at 31st December 2023 £66,671.36 £62.164.47

THE ALEXANDER FUND GRANTS YEAR ENDED 31ST DECEMBER 2023 15th Lambeth Scout Group 15th Lambeth Scout Group 15th Lambeth Scout Group 15th Lambeth Scout Group 15th Lambeth Scout Group 15th Lambeth Scout Group Lambeth District Scout Council Lambeth District Scout Council 4th Balham & Tooting Scout Group 4th Balham & Tooting Scout Group 5th Putney Sea Scouts 2nd Streatham Hill Scout Group 2nd Streatham Hill Scout Group 2nd Streatham Hill Scout Group 9th Southside Scout Group 9th Southside Scout Group 9th Southside Scout Group 9th Southside Scout Group 9th Southside Scout Group 9th Southside Scout Group 9th Southside Scout Group 8th Lambeth Scout Group 8th Lambeth Scout Group 8th Lambeth Scout Group 22nd Streatham Scout Group 22nd Streatham Scout Group 22nd Streatham Scout Group 22nd Streatham Scout Group 32nd Streatham St. Batholomew's Scout Group 32nd Streatham St. Batholomew's Scout Group 12114th Battersea Westside Scout Group 12114th Battersea Westside Scout Group 16th Battersea Sea Scout Group 16th Battersea Sea Scout Group 16th Battersea Sea Scout Group 16th Battersea Sea Scout Group 16th Battersea Sea Scout Group 642.50 495.00 778.06 480.00 585.00 1,627.50 28.00 4,500.00 60.00 1,100.67 1,500.00 430.00 1,859.47 851.50 280.00 1,558.00 186.94 6,709.31 376.33 276.68 656.55 225.00 2,100.00 12.00 1.341.25 160.36 160.36 207.56 540.22 1,133.17 90.60 2,572.57 80.00 140.07 60.00 866.69 80.00 10

1 st Streatham Common Scout Group 1 st Streatham Common Scout Group 1 st Streatham Common Scout Group Wandsworth District Scout Council Wandsworth District Scout Council Wandsworth District Scout Council Wandsworth District Scout Council Delta Explorer Scout Unit 19th Clapham Scouts Group 4th South Lambeth Scout Group 4th South Lambeth Scout Group 4th South Lambeth Scout Group 4th South Lambeth Scout Group Mercury Explorer Unit Mercury Explorer Unit Mercury Explorer Unit Orion AESU Orion AESU 1st East Putney Scout Group 11th Wandsworth Zidna Scout Group 24.00 342.00 337.50 539.90 60.00 2,094.56 200.00 1,159.93 485.00 178.45 543.20 2,429.06 100.00 672.22 500,00 1,614.75 250.00 712.50 233.00 500.00 Total £47,727.43 10 Continued-

THE ALEXANDER FUND SCHEDULE OF CREDITORS AS AT 31ST DECEMBER 2023 31.12.2023 31.12.2022 Newlon & Garner audit fees 1,425.00 1,350.00 VAT thereon 285.00 270.00 Legal, accountancy, taxation and administration charges 3,800.00 3,950.00 VAT thereon 760.00 790.00 Disbursements {including VAT) 10.80 0.24 £6,280.80 £6,360.24 11

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