2023-03-31-accounts

Charity number: 309719

CHARLES PLATER TRUST

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

CHARLES PLATER TRUST

(A Company Limited by Guarantee)

CONTENTS

	Page
Reference and administrative details	1
Trustees' report	2 - 10
Independent examiner's report	11
Statement of financial activities	12
Balance sheet	13
Notes to the financial statements	14 - 22

CHARLES PLATER TRUST (A Company Limited by Guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE TRUST, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023

Trustees

Bishop Richard Moth (Chair) Bishop Paul McAleenan Catherine Sexton (resigned 16[th] May 2022) Richard Hopper Michael Walsh Cathy Corcoran Andrew Haines Oliver Smith Brian Mooney Steven Hargraves Laura Maydew-Gale (appointed 23[rd] January 2023) Matthew Wall (appointed 23[rd] January 2023)

Charity registered number: 309719

Principal office: 39 Eccleston Square London SW1V 1BX

Auditor:

MHA MacIntyre Hudson Chartered Accountants Building 4, Foundation Park Roxborough Way Maidenhead SL6 3UD

Investment Managers:

Epworth Investment Management Limited (until 7[th] June 2022) 9 Bonhill Street London EC2A 4PE

Investment Managers:

Solicitors:

Fieldfisher LLP Riverbank House 2 Swan Lane London EC4R 3TT

(until 7[th] June 2022) Sarasin & Partners LLP Juxon House 100 St. Paul's Churchyard London EC4M 8BU

Investment Managers:

Bankers:

Allied Irish Bank (until 7[th] June 2022) 10 Berkeley Square London W1J 6AA

(from 8[th] June 2022) Netwealth Investments Limited Two Fitzroy Place 8 Mortimer Street London W1T 3JJ

Bankers:

National Westminster Bank Plc (from 8[th] June 2022) Clapham Junction branch 66-68 St John’s Road London SW11 1PZ.

Page 1

CHARLES PLATER TRUST

(A Company Limited by Guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023

The Trustees present their annual report together with the financial statements of Charles Plater Trust (the Trust) for the year ended 31 March 2023. The Trustees confirm that the Annual Report and financial statements of the Trust comply with the current statutory requirements, the requirements of the Trust's governing document and the provisions of the Statement of Recommended Practice (SORP) FRS102 “Accounting and Reporting by Charities".

Structure, governance, and management

Principal Aims and Objects

According to the Deed, the Trustees of the Charles Plater Trust hold the income of the Trust Fund:

to pay or apply it in such a manner to, or for the benefit of, such exclusively charitable objects in furtherance of the advancement of education as the Trustees may think fit, including those consistent with the social teaching of the Roman Catholic Church. [Trust Deed Clause 5]

The Trustees confirm that they have referred to the guidance provided by the Charity Commission on public benefit when reviewing the Trust's aims and objectives, in planning future activities and setting the grant making policy for the year.

Each year the Trust seeks to fulfil its charitable objectives by disbursing funds from the income from investments through an open competition for projects and initiatives that meet at least one of the Trust’s three specified themes:

• Laity Leadership

• Proposals for grant aid should be aimed at deepening the awareness of Catholic Social Teaching and Thought to better equip people to take on leadership roles in tackling poverty, exclusion, economic inequality, or environmental concerns.

• Social Action

• Grants for this theme need to demonstrate how the applicant’s project will deliver tangible outcomes to tackle poverty, exclusion, economic inequality or environmental concerns through education or training activities in a broad way.

• Applied Research

• Grants will be awarded to projects which seek to develop and apply Catholic Social Teaching and Thought, in partnership with those who are working in and delivering social action work, with a view to ultimately improving practice and public policy.

The Trust invites applications for grants from organisations by advertising in Catholic and other media. Organisational applicants submit their proposals to the Trustees in an online application form available on the revamped Charles Plater Trust website. These are initially assessed, against published criteria, by the Trust’s Grant-Making Committee (GMC). The GMC recommends selected applications for agreement by the Trustees, carrying out the necessary due diligence to ensure that proposals do not pose any detriment, harm, or reputational risk to either the beneficiaries or other parties involved.

The beneficiaries of the grants are the clients of the recipient organisation and the public. The themes each reflect the Plater objectives and are in the Catholic social teaching tradition, although eligibility for grants is not limited to Catholic organisations or causes. Successful award holders are required to allow their work in relation to the award to be assessed, publicised, and used to promote good practice in charitable work.

Page 2

CHARLES PLATER TRUST (A Company Limited by Guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2023

Trustees

In this operating year, The Trust was led by Bishop Richard Moth who chaired board meetings for this period. Catherine Sexton resigned as trustee in this period due to other work commitments. In addition, the latest round of new recruitments for lay trustees took place over Autumn 2022, which resulted in the eventual appointment of two new Trustees in January 2023. These trustees were chosen specifically for the wealth of their communications and digital expertise, and their appointments were ratified by the Catholic Bishop’s Conference as the Trust deed dictates.

The Trustees shown in the reference and administrative details of the Trust were in office at 31 March 2023. Except where shown, they served throughout the period covered by this report.

No trustees received any financial remuneration from the charity during this period.

Risk Management

The Trust has assessed major risks faced by the charity and sought to establish systems and procedures to mitigate those risks. The main risks are the risk in fluctuations in the income on the investment of the capital and the risk of loss of key staff, committee members and Trustees. A full copy of its Risk Assessment is available on request from the Trust Manager.

Potential Conflicts of Interest

Where the potential to give rise to an actual or perceived personal conflict of interest was identified, the chairs of the Grant Making Committee, Finance Committee or Board, as appropriate fairly and effectively determined what, if any action was required. The Board has continued to identify and follow best practice in this and other areas of good governance, in part through its membership of the Association of Charitable Foundations.

Agreements with Grant Recipients.

The Trust obtains signed agreements with all recipients prior to paying the first grant instalment. These agreements govern the relationship between their organisations and the Trust and are signed by officers of the organisations.

In the case of large grants, the agreements commit the recipients to report on the project's progress at its midterm point and to submit a full report, including outcomes, at the conclusion of the project. The grant is paid in stages; 50% on receipt of the signed agreement, 40% on receipt of a satisfactory progress report (normally at the half-way stage) with the final 10% payable on receipt of the final report. The agreement with recipients is reviewed regularly to ensure that the Trust’s requirements are clear.

The introduction of a small grants round for the first time by the Trust in 2021, to target specifically micro and small charities (defined as those with annual incomes of less than £100,000), has led to a separate grant process for these organisations. The small grants are up to £5,000 per charity and paid in one 100% instalment. These grants are to enable the implementation of localised projects, and such small grant recipients are required to report on what has been achieved with the funding provided at the end of the year-long delivery process.

Monitoring of Grant Funded Projects

The Trust has adopted a formal procedure for monitoring recipients of grants. For large grant award holders, progress reports are required at the half-way stage and on completion of the project to demonstrate how the outcomes matched the stated and approved aims of the projects. For small grant award holders, a simplified process takes places that requires one final written report at the end of the year long project to describe progress against the stated objectives. The Trust continues to allocate a Link trustee for large grant award holders, generally from its Grant Making Committee or its Finance Committee, to monitor and advise specific grant recipients and act as a contact person, in addition to the Trust Manager. Online ‘learning conversations’ involving

Page 3

CHARLES PLATER TRUST

(A Company Limited by Guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2023

members of the Grant Making Committee alongside the Trust manager have also been introduced for small grant award holders to assist wider and deeper learning on outcomes delivered by the modest funding offered by the Trust.

Page 4

CHARLES PLATER TRUST

Activities

Finance

In the course of the year the Finance Committee undertook the following activities the proposals from which were all discussed, amended and agreed by the Board of Trustees:-

· An operating budget for 2022/23 was devised and monitored throughout the year

-The Finance committee facilitated the change of our bankers following the cessation of AIB banking activities in the UK. Natwest was chosen as the new bankers for CPT, and this facilitated online banking for the first time for the Trust enabling greater efficiency in grant payments.

· An annual financial strategy to support the grant making policy which draws on an element of capital as well as income was implemented.

· A retendering process for CPT’s investment management contract was devised and implemented. Five investment management firms, with appropriate credentials, including the previous providers, were invited to submit written proposals for an initial period of five years (2022 – 2027), although this will be reviewed annually within a regular system of performance monitoring, jointly between CPT and the Investment Management firm appointed. The five resulting proposals were compared and following an interview process, Netwealth were successful in winning the tender for CPT business going forward. The investment assets were then transferred over May and June 2022, with Netwealth taking control of the investment portfolio from early June 2022 onwards.

· The Trust’s approach to ethical investment was restated by requiring all investments in future to be placed in funds meeting Socially Responsible Investment standards

· The committee continued work on drafting new finance policies and procedures, as well as new terms of reference.

The Finance Committee benefited from the relevant and current experience of new members, together with the information and guidance available through CPT’s memberships of National Council for Voluntary Organisations and Association of Charitable Foundations.

Grant Awards 2022/23

The usual business of monitoring and supporting the existing recipients of previous grants, also continued throughout the year. We made historic grant payments to previous successful applicants of £19,948 in this period.

In addition, the CPT had a strong response to the 2022 large grants round. Our new online application form and revised 2022 guidance for applicants clearly set out the type of information we required and clearly published our assessment criteria so that all applicants knew in advance what we were looking for and if they were eligible. By close of application on 15[th] March 2022, CPT received 86 eligible applications . This more than doubled our previous highest number of 40 applications. So, the board was confident that we did get news of the funding opportunity out there better than ever before. 86 applicants were asking for total funding of £4,057,635, so CPT was only ever going to be able to meet approximately 10% of the demand that knocked on our door for support this year. This says something very profound about the level of demand that exists out there post pandemic for charities, and the wider communities they serve.

In total, we received a good spread of charities applying with small, medium, large, and major charities all represented in the 2022 large grant applications. Similarly, there was a good geographical spread, including four projects with impact in Wales. The GMC had introduced a new question on the application form that meant that we could measure, for the first time, the number of BME led charities and disability led charities who we had reached through the large grants round. As was to be expected given our primary audience, the charities applying in the large grants round were overwhelmingly faith based in nature (only 14 described themselves as not faith based),

Page 5

CHARLES PLATER TRUST

and again all three of our themes were covered with educational social action projects dominating. Helpfully too, all types of service users were represented in the applications we received.

Following an extensive grant assessment process by the Grant Making Committee (GMC), ultimately the GMC recommended the ten strongest proposals to the full Board meeting on 27[th] April 2022, and these were approved. At the annual awards ceremony in London on 25[th] May 2022 at Allen Hall Seminary, the following new partnerships with ten award holders were publicly announced:

2022/23 Large Grant Awards (agreed by Board on 27[th] April 2022):

Transforming	Transforming	Transforming	£46,248	TLG Early Intervention’	TLG Early Intervention’	TLG Early Intervention’	TLG Early Intervention’	TLG Early Intervention’
Lives	for	Good		TLG is all about helping churches to bring hope and a future to struggling children. With
(TLG)				their network of partner churches, they are committed to reaching out to some of										the
				most vulnerable children in the UK with a focus on education and									expertise in school
				exclusions, emotional				wellbeing, and holiday hunger. The TLG Early Intervention
				programme brings a practical solution to support schools, children and families in their
				community by training,					resourcing and linking		volunteers (coaches) with children that are
				struggling. It	is fundamentally about spending time to listen to individual children,									help
				give them the tools to				tackle the underlying issues in why they are struggling in their
				learning or behaviour and ultimately let them know that someone									cares and that they are
				valued. By one coach, spending at least one hour a week with one child for as long is
				needed, they have seen numerous examples							through the programme where this			has had
				a dramatic impact			on a		child’s life chances and attainment levels.
Provision House			£40,000	A brighter future’
				The grant will enable the charity to run a comprehensive training and work-experience
				program aimed an unemployed young adults							and NEET young people. Following			this
				support, the charity will					also help find the trainees positive progression routes, which
				includes: employment				opportunities, apprenticeships, traineeships, further education, or
				further volunteering opportunities. Provision House is a long established training provider
				in the West Midlands.				They offer unique routes to employment programmes, from pre-
				employment	readiness, support with CVs and practical, hands on training across									a range
				of live service areas. Recently feedback has shown that there is a real need for a
				programme that is specifically tailored for young people as one does not currently exist in
				their area. The CPT grant allows the charity to employ a specialist young person’s worker
				who will act as a		tutor		and programme coordinator for this project, supporting the						young
				people whilst they			are	with the charity and also facilitating secure					routes into paid
				employment	with other				partner organisations.
Citywise			£50,000	Character mentoring projects for disadvantaged young people in Manchester, and
Mentoring Ltd				resources for families.
				Support from CPT allowed the charity to significantly expand the number of young people
				who could take part in				character mentoring projects in Manchester. Children from some
				of the most disadvantaged areas of the UK, got access to more opportunities for positive
				development through school-based mentoring projects, after-school clubs offering
				enrichment through music, arts, drama, digital and cooking activities, as well as family
				fun days and holiday camps.
Destitution		Project	£48, 327	Casework Service and					Vital Support
				The charity provides casework services for asylum seekers, including those refused											and
				with no recourse		to public funds. DP’s Drop-in offers asylum seekers and refugees a
				safe, welcoming		space			to meet others, get a hot meal, access clothing, food parcels,
				haircuts, English		lessons and do arts and crafts, all for free.
				The funding from CPT enabled the charity to expand its casework support to meet the
				needs of new and			existing asylum seekers in				the Bolton area. The Covid-19 pandemic
				resulted in the Home Office pausing both existing and new asylum cases. Since the
				second half of 2021, all cases have started to progress again, and demand in the Bolton
				area exceeded available support. CPT’s funding meant that an experienced caseworker
				was able to offer		support and the charity was					also able to recruit a second caseworker to
				increase capacity.
DePaul	UK		£50,000	Nightstop London

Page 6

CHARLES PLATER TRUST

		Across London, trained and	Across London, trained and	Across London, trained and	Across London, trained and	vetted volunteer hosts provide emergency accommodation	vetted volunteer hosts provide emergency accommodation	vetted volunteer hosts provide emergency accommodation	vetted volunteer hosts provide emergency accommodation	vetted volunteer hosts provide emergency accommodation	vetted volunteer hosts provide emergency accommodation	vetted volunteer hosts provide emergency accommodation	vetted volunteer hosts provide emergency accommodation	vetted volunteer hosts provide emergency accommodation	vetted volunteer hosts provide emergency accommodation	vetted volunteer hosts provide emergency accommodation
		for young people experiencing, or at risk of homelessness, in their spare										rooms.
		Meanwhile, the Nightstop London team support the individual young person												to deal with
		the issues that led to this crisis point,					and to find an appropriate longer-term							housing
		solution for		them so	they can access		education		and employment as		appropriate.
The Baytree	£60,000	‘The Fatima Project’
Centre		The grant was to support the integration of families through educational,										training and
		development programmes for women and girls. The Fatima project is works												to integrate
		200 vulnerable migrant women in the UK by reducing their isolation									and	tackling barriers
		to their participation			in civic	life. This will be achieved through post arrival activities such
		as language classes; one to one mentoring; volunteer/employability									support; access to
		recreational activities; increasing civic knowledge and inclusion activities including
		parenting and capturing the				learnings from the project to influence policy in migrant
		integration.
Street Teams	£50,000	Family Partnerships			Project
		This project is the only one of its kind in Walsall providing								specialist	face-to-face support
		for exploited children and young people and their families, to enable them to cope with
		their abusive experience and to reduce the risks of any further exploitation											occurring to
		the victims		or to other siblings within the family.
		The CPT grant helped Street Teams					to continue to run its			Family Partnerships Project for
		a	further two years. It enabled the charity to extend the project to help more											families, with
		a	focus on early intervention, before children and young people are abused.
19-20 Grant Awards	(previously agreed by trustees on 28th November 2018:
Advice for Renters	£60,000		Advice for Renters Money Mobile Money Advice Centre
			This charity supports individuals from financial subsistence to resilience.										It aims to
			inspire financial capability in its beneficiaries and in developing their expertise, enable
			them to become Community Money Mentors						to further serve their		communities. The
			grant from CPT enabled the charity to expand its work across West London,
			converting a donated double decker bus into						an accessible ‘Mobile Money Advice
			Centre.’ The bus is parked in different locations such as housing estates, shopping
			centres, medical centres and schools, allowing the charity to deliver core services to
			offer financial inclusion advice in the heart of						communities. Users are encouraged to
			join a weekly financial capability programmes. They develop people into community
			money mentors and energy champions in the community at large.
Soundabout	£59,988		Oxford and Beyond Inclusive Choir
			Soundabout’s Oxford and Beyond Inclusive Choir enables people								with
			profound/severe learning			disabilities to sing and make music together with a
			community of mixed ability singers				from a range of backgrounds. This					project
			expanded the choir, developed young people as Emerging Leaders, and										enabled full
			participation through an Equity Group. Fully inclusive and accessible choir sessions
			are held both in-person (bi-monthly) and online (18 per year). By welcoming all
			voices, the charity aims to be as inclusive as						possible, and actively removes barriers
			to participation from those with severe and profound learning disabilities.
West London	£20,000		Improving wellbeing and developing life skills						of local people at WLM St Luke's
Mission (WLM)			Community Hub in Lambeth, London
			WLM empowers people affected by homelessness, poverty and trauma to make
			positive changes in their lives. WLM St Luke's is a vibrant community space in
			Lambeth	that hosts a range of projects and classes to help develop and empower at
			least 450 people from some of the borough's						most deprived areas. The charity exists
			to reduce social exclusion and improve the wellbeing of							their users, alongside
			improving their life skills. Their programmes include training and skills development
			activities	targeting essential skills such as budgeting and financial							management,
			learning to get online, accessing the internet,						using emails, cooking and preparing
			food on a tight budget and English language proficiency.
Total 2022	£484,563
large grants:

2019-20 Grant Awards (previously agreed by trustees on 28[th] November 2018:

Page 7

CHARLES PLATER TRUST

Small grants programme 2022/23.

For a second year, targeting funding support at small charities was maintained by the Trust through a dedicated small grants round in Autumn 2022.

In 2021, the CPT established a small charity grants programme, providing grants of up to £5,000 to small charities (with a turnover of less than £100,000[1] ) to help them better cope with the demands and challenges coming out of pandemic.

After a competitive bidding process managed by the Grant Making Committee, by close of deadline on 10[th] October 2022, the GMC received sixteen submitted small grant applications for our 2022 small grants programme. This was up from nine applications in the previous year. These applications represented a satisfactory range of differences:

• 50% were from faith-based organisations; 50% were from non-faith based organisations;

• 31% of applications were from BME led charities;

• Wide range of geographical areas represented, except no applications received from anywhere in Wales which remains an area where CPT has limited reach;

Applications covered a wide range of service user groups.

Following a board meeting on 23[rd] January 2023, Trustees awarded six small charities with small grants from the Plater Trust as follows:

The Drop In	£5,000 ‘Finding Hope and Well-being,	£5,000 ‘Finding Hope and Well-being,	Bereavement Counselling Support Workshops’	Bereavement Counselling Support Workshops’	Bereavement Counselling Support Workshops’
Bereavement	Between March 2020 to	January 2022 the charity, The Drop In Bereavement Centre,
Centre	received over 300 GP/IAPT		referrals from across the East London Boroughs of
	Newham/Redbridge, Havering, Romford Barking				& Dagenham, Hackney, Stoke
	Newington, Enfield, for presenting vulnerable "at risk"				bereaved people, some of whom,
	were also suffering with mental health issues, suicidal intents, and substance
	misuse/alcohol dependency. Pre-Covid-19, the charity would have expected to receive
	approximately 70 referrals annually. The charity wanted to provide counselling support
	to 60 of these people who have experienced loss, especially Covid-19 related losses,
	as well as offering a safe	space environment where they can meet others who have lost
	in similar circumstances and gain mutual support via				their well-being and peer support
	group workshops. The CPT funding helped cover the cost of engaging the existing						team
	of professional bereavement counsellors in the			delivery of both telephone counselling
	and group support workshops.
SVP Halesowen	£5,000 ‘Helping families meet the challenge of food poverty’.
	The SVP conference knew of families in crisis as a result of the cost-of-living crisis.
	Higher day to day costs, including gas and electricity, had a knock-on effect as to						what
	could be afforded for groceries. The project enabled groceries to be provided to these
	families facing food insecurity.		This eases the pressure on parents and children to
	sustain family relationships and nourish youngsters so they can grow up in a less
	stressful environments. This should mean worry is diminished and the youngsters can
	better focus on learning and development at school and at home. 60 families were
	targeted for help in this way with the CPT grant.
Sandwell Youth in	£5,000 Youth ex-offenders’ Club
Action	Sandwell Youth in Action (SYIA) is a charity of young				people who work to support		other
	young people from the most deprived areas of Sandwell. The organisation aims to give
	young people from the deprived wards equal opportunities in life regardless of personal
	circumstances. The 'Youth ex-Offenders’ Club' is a				project to support young people
	leaving penal justice to reduce		their chances of reoffending. Following a consultation in
	July 2022 with 14 short-sentenced refugee young prisoners aged 17-21years					old from
	Sandwell released from	West Midlands’s Prisons,			the need was established		for a
	specialist service to young people. Often, young people are inadequately prepared for

1 The definition of what constitutes a ‘small charity’ here is taken from the widely accepted classifications derived from NCVO UK Civil Society Almanac: (https://data.ncvo.org.uk) which defines a small charity as one with income £10,000 - £100,000 and a ‘micro’ charity as one with an income below £10,000.

Page 8

CHARLES PLATER TRUST

their release from prison. Some of the most important factors in the successful rehabilitation and resettlement of young people are having a stable home, secure employment and proper provision for further education upon release from prison. According to the results of the consultations and focus meetings, young people prisoners who have problems with both employment and accommodation on release have a reoffending rate of 64% during the year after custody, compared to 43% for those with no such problems. The CPT grant supported 14 BME young people prisoners released from prison by providing them with the “missing link” in the rehabilitation chain. The focus was on solving education, employment, financial support and debt and family network issues with social role modelling, emotional and practical support.

Carmel Care	£5,000 Carmel Care Wellbeing Project	£5,000 Carmel Care Wellbeing Project	£5,000 Carmel Care Wellbeing Project	£5,000 Carmel Care Wellbeing Project
Centre, Diocese	Reaching	out to the	local community and beyond to help address loneliness and
of Hallam	isolation, the Carmel		Care Centre provides community lunches, therapeutic arts and
	activities and counselling free to those in need of this service. The centre is based in
	Hillsborough, Sheffield within the Parish of Sacred Heart. The project reached					out to
	100 people to provide a welcoming space for members of the community to access
	counselling, group work, addiction support, educational therapeutic activities and
	nourishing	food. The CPT grant enabled the charity to expand their services to meet the
	growing needs of the		local community.
Petworth	£4,933 Men’s Shed Petworth
Community	The Men’s Shed Petworth offers a friendly, wheelchair accessible place where local,
Garden	isolated men can get		together and create rural woodcrafts in a safe supported space.
	The group	gives members a chance to chat and be supported in a way that is accessible
	(and acceptable) to men, particularly those dealing with mental health issues. Due to
	the local social services day provision closure, they have had an increase of vulnerable
	men coming to the project, particularly				with complex wellbeing issues such as isolation,
	loneliness	and depression, also people recovering from strokes, people with learning or
	physical disabilities, NEETs,			and those dealing with a life change such as retirement or
	bereavement. The CPT funding helped 10-15 men access a weekly Men’s Shed
	sessions (4 hours a week) for 12 months. In addition, to the Men's Shed Co-ordinator
	they also have a Senior Support worker at the sessions who provides 1-2-1 support for
	any members that need this.
Skelmersdale	£4,928 Preparing asylum seekers for college Level 1 ESOL and functional skills studies
Ecumenical	The project aims to provide an opportunity for locally situated asylum seekers, held back
Centre	by their limited ability		to communicate		in English, to acquire new skills that will assist
	them in progressing to further education. This funding employed a qualified and					skilled
	ESOL teacher to work alongside up to 30 asylum seekers. The class prepared students
	currently at the Pre-Entry ESOL level				to enrol at an FE college at least on a Level 1
	ESOL course and functional skills courses. The ability to express your ideas and
	emotions, and advocate for yourself in conversation and writing, is essential for a person
	to flourish.

Total for 22/23	£29, 861
small grants

Financial review

Reserves Policy

Charles Plater Trust's operational policy is to ensure that it has adequate financial reserves to meet its continuing charitable obligations and day-to-day working requirements, as well as to meet future commitments. All funds are treated as unrestricted. On 31 March 2022, funds were £7,927, 956 including investments of £ 7,731,987 leaving £195,969 of net current assets, available to fund working requirements.

Going Concern

The Trustees monitor the investments and financial returns at each of their usually twice-yearly meetings and consequently have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the

Page 9

CHARLES PLATER TRUST

financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

Trustees' Responsibilities Statement

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Trust and of the incoming resources and application of resources of the Trust for that period. In preparing these financial statements, the Trustees are required to:

• select suitable accounting policies and then apply them consistently.

• observe the methods and principles in the Charities SORP.

• make judgments and accounting estimates that are reasonable and prudent.

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the

• Trust will continue in operation.

The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the Trust's transactions and disclose with reasonable accuracy at any time the financial position of the Trust and 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 Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the Trustees on 23[rd] January 2023, and signed on their behalf by:

---

Bishop Richard Moth

Chair of the Charles Plater Trust

Page 10

CHARLES PLATER TRUST

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2023

Independent examiner's report to the Trustees of Charles Plater Trust ('the Trust')

I report to the charity Trustees on my examination of the accounts of the Trust for the year ended 31 March 2023.

Responsibilities and basis of report

As the Trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 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 the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the Trust has prepared the accounts 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Trust as required by section 130 of the 2011 Act; or

2. the accounts do not accord with those records; or

3. the accounts do 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.

This report is made solely to the Trust's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Trust's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Trust and the Trust's Trustees as a body, for my work or for this report.

Signed: Dated: 23rd November 2023 B K Silva ACA

MHA, Building 4, Foundation Park, Roxborough Way, Maidenhead, SL6 3UD

MHA is the trading name of MacIntyre Hudson LLP, a limited liability partnership in England and Wales (registered number OC312313).

Page 11

CHARLES PLATER TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

Note Income from: Donations and legacies 2 Investments 3 Total income Expenditure on: Raising funds 4 Charitable activities Total expenditure Net (expenditure)/income before net (losses)/gains on investments Net (losses)/gains on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward	Unrestricted funds 2023 £ 7,651 193,603 201,254 32,751 331,655 364,406 (163,152) (536,750) (699,902) 8,627,858 (699,902) 7,927,956	Total funds 2023 £ 7,651 193,603 201,254 32,751 331,655 364,406 (163,152) (536,750) (699,902) 8,627,858 (699,902) 7,927,956	Total funds 2022 £ - 221,631 221,631 30,343 179,523 209,866 11,765 408,119 419,884 8,207,974 419,884 8,627,858

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 13 to 21 form part of these financial statements.

Page 12

CHARLES PLATER TRUST

BALANCE SHEET AS AT 31 MARCH 2023

Fixed assets Note Investments 10 Current assets Cash and cash equivalents Creditors: amounts falling due within one year 11 Net current assets Total net assets Charity funds Unrestricted funds General funds 12 Total unrestricted funds 12 Total funds	207,267 207,267 (11,298) 7,927,956	2023 £ 7,731,987 7,731,987 195,969 7,927,956 7,927,956 7,927,956	357,671 357,671 (11,297) 8,627,858	2022 £ 8,281,484
				8,281,484 346,374
				8,627,858
				8,627,858
				8,627,858

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

................................................

Bishop Richard Moth

Chair of the Charles Plater Trust Date: 23 November 2023

The notes on pages 13 to 21 form part of these financial statements.

Page 13

CHARLES PLATER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

Charles Plater Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Trust and which have not been designated for other purposes.

Investment income, gains and losses are allocated to the appropriate fund.

1.3 Income

All income is recognised once the Trust has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Page 14

CHARLES PLATER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. Accounting policies (continued)

1.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Trust to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Trust's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

1.5 Going concern

The Trustees assess whether the use of going concern is appropriate, i.e., whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the trust to continue as a going concern. The Trustees make this assessment in respect of a period of one year from the date of approval of the financial statements. The Trustees do not consider there to be any material uncertainities regarding the going concern status of the Trust as detailed on page 8 of the Trustees report.

1.6 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading ‘Gains/(losses) on investments’ in the Statement of Financial Activities.

1.7 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 15

CHARLES PLATER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. Accounting policies (continued)

1.8 Liabilities and provisions

Liabilities and provisions are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised as the amount that the Trust anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

1.9 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Trust; this is normally upon notification of the interest paid or payable by the Bank.

1.10 Financial instruments

The Trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2. Income from donations and legacies

	Unrestricted	Total	Total
	funds	funds	funds
	2023	2023	2022
	£	£	£
Donations	7,651	7,651	-

3. Investment income

	Unrestricted	Total	Total
	funds	funds	funds
	2023	2023	2022
	£	£	£
Investment income	193,603	193,603	221,631

Page 16

CHARLES PLATER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

4. Investment management costs

	Unrestricted	Total	Total
	funds	funds	funds
	2023	2023	2022
	£	£	£
Investment management fees	32,751	32,751	30,343

5. Analysis of grants

Grant funding Grant funding	Grants to Institutions 2023 £ 295,163 Grants to Institutions 2022 £ 137,479	Total funds 2023 £ 295,163
		Total funds 2022 £ 137,479

Each year the Trust awards grants on a rolling grants programme for the following designated themes:

Laity Leadership

Proposals for grant aid should be aimed at deepening the awareness of Catholic Social Teaching and Thought to better equip people to take on leadership roles in tackling poverty, exclusion, economic inequality, or environmental concerns.

Social Action

Grants for this theme need to demonstrate how the applicant’s project will deliver tangible outcomes to tackle poverty, exclusion, economic inequality or environmental concerns through education or training activities.

Applied Research

Grants will be awarded to projects which seek to develop and apply Catholic Social Teaching and Thought, in partnership with those who are working in and delivering social action work, with a view to ultimately improving practice and public policy.

Page 17

CHARLES PLATER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Material grants paid to institutions in the year were as follows:

Cardinal Hume Centre Depaul UK Father Hudson's Society The Baytree Centre Borderlands (South West) Ltd Citywise Mentoring Together for the Common Good West London Mission Mustard Tree Diocese of Hallam The Drop-in Bereavement Centre Sandwell Youth Faith in Families Transforming Lives for Good Provision House Soundabout Street Teams Destitution Project Medaille Trust Together Free Foundation St Vincent de Paul Society Heart of Tamworth Community Project Vincentian Volunteers Chattertots St Dunstan and John Vianney Parish Historic grant commitments Grants under £5,000 each Catholics for Aids Prevention Advice for Renters	2023 £ - 25,000 - 30,000 - 25,000 - 18,000 - 5,000 5,000 5,000 - 23,124 20,000 29,994 25,000 - 24,164 - - - 5,000 - - - - 19,948 4,933 - 30,000 295,163	2022 £ 3,960 - 25,580 - 3,000 - 20,000 - 5,000 - - - 5,000 - - 1,244 - - 2,500 - 5,940 5,039 5,000 5,000 5,000 5,000 5,000 - 30,216 5,000 -
		137,479

Page 18

CHARLES PLATER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

6. Analysis of expenditure by activities

Grant funding Grant funding Analysis of support costs Trust manager's fees Advertising Miscellaneous expenses Governance costs Website costs	Grant funding of activities 2023 £ 295,163 Grant funding of activities 2022 £ 137,479	Support costs 2023 £ 36,492 Support costs 2022 £ 42,044 Total funds 2023 £ 29,060 - 2,320 1,322 3,790 36,492	Total funds 2023 £ 331,655
			Total funds 2022 £ 179,523
			Total funds 2022 £ 26,124 1,750 4,368 4,608 5,194
			42,044

Page 19

CHARLES PLATER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

7. Independent examiner's / auditors remuneration

	2023	2022
	£	£
Fees payable to the Trust's independent examiner for the independent
examination of the Trust's annual accounts	2,100	2,400
Fees payable to the Trust's independent examiner in respect of:
Accountancy services	1,500	1,500

8. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2022 - £NIL) . During the year ended 31 March 2023 no Trustees expenses were paid (2022 - £NIL) .

9. Staff costs

The Trust had no employees during the year (2022: £NIL ).

10. Fixed asset investments

Cost or valuation At 1 April 2022 Additions Disposals Unrealised gains At 31 March 2023	Fixed asset investments £ 8,281,484 9,906,746 (9,871,937) (584,306) 7,731,987

Page 20

CHARLES PLATER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

11. Creditors: Amounts falling due within one year

	2023	2022
	£	£
Accruals and deferred income	11,298	11,297

12. Statement of funds

Statement of funds - current year

Unrestricted funds General Funds Statement of funds - prior year Unrestricted funds General Funds	Balance at 1 April 2022 £ 8,627,858 Balance at 1 April 2021 £ 8,207,974	Income £ 201,254 Income £ 221,631	Gains/ Expenditure £ (Losses) £ (364,406) (536,750) Gains/ Expenditure £ (Losses) £ (209,866) 408,119	Balance at 31 March 2023 £ 7,927,956 Balance at 31 March 2022 £ 8,627,858

13. Analysis of net assets between funds

Analysis of net assets between funds - current year

Fixed asset investments Current assets Creditors due within one year Total	Unrestricted funds 2023 £ 7,731,987 679,682 (483,713) 7,927,956	Total funds 2023 £ 7,731,987 679,682 (483,713) 7,927,956

Page 21

CHARLES PLATER TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

13. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

	Unrestricted	Total
	Funds	Funds
	2022	2022
	£	£
Fixed assets investments	8,281,484	8,281, 484
Current assets	357,671	357,671
Creditors due within one year	(11,297)	(11,297)
	(419,884)	(419,884)
Total		8,207,974
		8,207,974

14. Grant commitments

£208,677 relating to grants awarded prior to 31 March 2023 (2022: £37,936) is payable on condition of satisfactory progress of the projects supported.

15. Related party transactions

There were no Trustee nor other related party transactions during the current or prior year.

Page 22