THOMAS CARPENTER'S TRUST (REGISTERED CHARITY NUMBER 312155) ACCOUNTS FOR THE YEAR ENDED 30TH JUNE 2024
THOMAS CARPENTER'S TRUST OFFICERS AND ADVISER5 FOR THE YEAR ENDED 30TH JUNE 2024 Trustee5 Alderman Slr William Anthony Bowater Russell (chairman) Alderman Alexander Robertson Martin Barr Revd. George Raymond Bush (resigned 13 February 2024) Michael Norman Evans Sarah Mann Melanie Peters Angus James R05S Caroline Wilma Haines {appointed 18 July 2024) Secretary to the Trustees Lieutenant Colonel Richard Martin MBE (resigned 15 October 20231 Nicholas Westgarth (appointed 15 October 20231 Admlnlstrative Office St Margaret's Church Lothbury London, EC2R 7HH Registered Charlty Number 312155 Bankers National Westminster Bank plc P.O.Box 411 34 Henrietta Street London, WC2E 8NN Independent Examiner Michael T Morton FCA MB Associates Tax Consultant5 Hamilton House l Temple Avenue London EC4Y OHA
THOMAS CARPENTER'S TRUST CONTENTS FQR THE YEAR ENDED 30TH JUNE 2023 Pa Report of the Trustees Certification and Statement of the Responsibilities of the Trustees Independent Examiner's Report Balance Sheet Statement of Financial Activltles Schedule of Investments and Income Received Grant5 Accounting Policies and Notes
THOMAS CARPENTER'S TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30TH JUNE 2024 The Trust cornprises the Educational & Apprenticing Foundation, registered number 312155, and the Trustee5 are empowered to make educational grants to suitably qualified persons under the regulations laid down in the principal scheme of 1909 as amended from time to time by the Charity Commlssioners. The Trustees have due regard to the Charity Commission public benefit guidance when exercising any power or duties to which it is relevant. Grants have been made to suitably qualified applicants for educational purposes as listed in this report. The activities of the Trust are carried out for the public benefit as the grants awarded support education and training. The Trustees manage the investments as though it were a permanent endowment invested to generate income, and normally fund operations from net incomin8 resources. The investment policy is to seek to achieve a reasonable balance between the need to provide primarily for future increases in expenditure and, so far as is practical, the need to protect the capital base. There have been no direct fundraising activities in the year. The principal risk identified by the Trustees is to the Trust's income and Investments. The Trust's investments are reviewed by the Trustees on a regular (6 monthly) basis to ensure that provision of income for the operation of the charity is balanced by the maintenance of the value of the capltal. During the year to 30th June 2024 the Trustees were able to make grants to 15 students {2022-23 . 14) under the Educational & Apprenticing Foundation amounting to £47,054 (2022-23: £41,300). The resulting deficit of income compared with expenditure amounting to £3,476 was deducted from the Accumulated Income account leaving a balance to be carried forward of £43,019 Over the year the Capital funds of the Trust rose by £137,449 to show a market value of £1,605,232.00 Signed on behalf of the Trustees on 25th February 2025: .Sir Willia m Russell Chairman of the Trustees .Nicholas Westgarth (Authorised to Sl8nl Secretary and Treasurer
THOMAS CARPENTER'S TRUST CERTIFICATION OF THE TRUSTEES FOR THE YEAR ENDED 30TH JUNE 2024 We certify that the books, voucher5 and information produced to the Independent Examiner, from which the attached accounts have been prepared, contain a full and correct record of the Charity's transactions to the best of our knowledge and belief. .Sir William Russell Chairman of the Trustees .Nicholas Westgarth Secretary and Treasurer Dated . 25th February 2025 THOMAS CARPENTER'S TRUST STATEMENT OF THE RESPONSIBILITIES OF THE TRUSTEES FOR THE YEAR ENDED 30TH JUNE 2024 The Trustee5 are required to prepare financial statements for each financial year whlch give a true and fair view of the state of the affair5 of the Trust as at the end of the financial year and of the surplus or deficit, and total recogni5ed gains and losses of the Trust for that year. The Trustee5 confirm that appropriate accounting policies have been used and applied con515tently, and reasonable and prudent judgements and estimates have been made in the preparation of the financial statements for the year ended 30th. June 2024. The Trustee5 also confirm that applicable accounting Standards have been followed. The Trustees confirm that assets are available and adequate to fulfil the obligation5 of the Charity. The Trustees are responsible for maintaining adequate records and data protection, for safeguarding the assets of the Trust and for taking reasonable steps to ensure financial statements comply with the Trust Deed, the Charities Act 2011, 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 {FRS102} effective l January 2019. They are also responsible for takin8 reasonable Steps for the prevention and detection of fraud and other irregularities.
THOMAS CARPENTER'S TRUST REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES FOR THE YEAR ENDED 30TH JUNE 2024 I report on the accounts of the Trust for the year ended 30th June 2024 which are set out on pages 5 to 9. Respectlve Responsibilities of the Trustees and the Examiner The Charity's Trustees are responsible forthe preparation of the accounts. The Charity's Trustees consider that an audit is not required forthis year under Section 144121 of the Charities Act 2011 (the 2011 act) and that an independent examination Is needed. It is my responsibility to examine the accounts under section 145 of the 2011 Act . to follow the procedures laid down in the General Directions given bv the Charity Commissioners under section 145 {5}Ib} of the 2011 Act; and to state whether particular matters have come to my attention Basls of the Independent Examlner's Report My examination was carried-out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanation from you as trustees concerning any matter5. The procedures undertaken do not provide all the evidence that would be required in an audit and. consequently. no opinion is given as to whether the accounts present a true and fair view" and the report is limited to those matters set-out in the statement below.
THOMAS CARPENTER'S TRUST REPQRT OFTHE INDEPENDENT EXAMINER TO THE TRUSTEES FOR TME YEAR ENDED 30TH JUNE 2024 (contlnued) Independent Examiner's Statement In connection with my examination. no matter has come to my attention . which gives me reasonable cause to believe that, in any materlal respect, the requirements: a) to keep accounting records In a¢¢ordance with section 130 of the 2011 Act; and b) to prepare accounts which accord with the accounting record5 and to omply with the accounting requirements of the 2011 Act have not been met ' or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Michael T Morton FCA MB Associates Hamilton House l Temple Avenue London EC4Y OHA Date . Ilth.February 2025
THOMAS CARPENTER'S TRUST BALANCE SHEET AS AT 30TH JUNE 2024 2024 2023 Quoted Investments Market Value Atj M Finn 1,605,232 1,467,783 1,605,232 1,467,783 Current Assets Stockbroker's Balance 3,430 6,362 Bank Deposit Account 36,365 38,609 39,795 44,971 Sundry Creditors and Accruals 5,940 5,940 Net Current Assets 33,855 39,031 Total Assets le55 Llabllltles 1,639,087 1,506,814 Represented by: Restricted Funds 1,596,068 1,460,319 Unrestrlcted Funds 43,019 46,495 1,639,087 1,506,814 The accounts were approved by the Board of Trustees on 13th February 2025 Sir William Russell Chairman of the Trustees Nicholas W stgarth Secretary and Treasurer
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THOMA5 CARPENTER'S TRUST EDUCATIONALAPPRENTICING FOUNDATION FUND SCHEDULE OF INVESTMENTS AND INCOME RECEIVED FOR THE YEAR ENDED 30TH JUNE 2024 Book Market Cost Value £32,013 £172A68 £101.885 £121,164 £82,373 £67,770 £63,731 £61,219 £43,523 £118,860 4,608 £90.244 £35,589 £64.614 £29,678 £105,625 £16,889 £156,935 £62,175 £104,765 £34.965 £104,983 £47,294 £110,784 £43,421 £121,581 £6,61J) £120,693 Income Recelved £3,649 £2,048 £0 £2,547 £5,773 £4.432 £2,403 £4,000 £1,753 £5,332 £5,053 £5,046 £3,377 £560 Quantlty Name 14,230 Alliance Trust Ord 25p 43,6(K> Artemis Fund Marbagers Income Ins Inc unlts 56,950 Au8mentum FlnTech plc Ord GBPO.01 42,455 Black Rock Charities UK Bond 28,3LK) City of London Trust Ord 25p 31230 Dunedin Income Growth Old 25p 8,900 Edinburgh Investment Trust Ord 25p 12,500 Law Oebenture Ord 25p 41,738 Martin Currie Portfolio Ord 5p 18.775 Merchant Trust Ord 25p 12,250 Murray Income Trust Ord 25p 43,875 Murray International Trust Ord 25p 23,70D Scottish Amerfcan Inv ord 25p 13,650 Scottish Mort8a8e Inv Trust Ord 5p 32,250 Temple Bar Inv Trust Ord 5p 111 £75,864 £83.527 £3,160 £730,608 £1,605,232 £49,133 Investment Sales Proceeds C05t Galn £0
THOMAS CARPENTER'S TRUST GRANTS MADE FROM THE EDUCATIONAL AND APPRENTICING FOUNDATION FOR THE YEAR ENDED 30TH JUNE 2024 2023-24 2022-23 £0 £2,500.00 £3,500 £2,500.00 £3,000 £2,000.00 £1,085 £800.00 £529 £1,000.00 £3,500 £2.500.00 £3,500 £0.00 £3,500 £3,000.00 £0 £0.00 £3,500 £2,500.00 £3,500 £2,500.00 £7,000 £6,000.00 £6,500 £5,000.00 £4,500 £5,000.00 £0 £5,000.00 £1,430 £0.00 £1,000 £i,000.oo £i,oio £0.00 AD AT CE cc DH EM EN KE KG SPCCT RMI RM2 TO wc WJ wp Total 15 Student Grants12022-23: 14) £47,054 £41,300.00
THOMAS CARPENTER'S TRusr FOR THE YEAR ENDED 30TH JUNE 2024 NQTES TO THE ACCOUNTS l Basls of Accountlng The financi35 statements have been prepared in accordance with applicable accounting standards and under the historical c05t convention (with the exception of investments which are carried at market value). They comply with the Trust Deed and the Charities Act 2011. The recommendations presented in the Statement of Recommended Practice for"Accounting and Reporting by Charities" (revised 20141 published by the Charity Commission for England and Wales have been complied with. 2 Remuneratlon The Trustees received no personal remuneration or reimbursement of expenses during the period under review in their capacity as Trustees. 3 Going Concern The Trustees consider there are no material uncertainties about the Trust's ability to continue as a going concern. The review of our financial posltion, reserves level and future plan5 gives Trustees confidence the Trust remains a going concern for the foreseeable future. 4 Cash Flow Statement The Trustees have not prepared a Cash Flow Statement In view of the size of the funds. S Creditors and Accruals Creditors and Accruals at the accounting date were Accountancy Fees Secretary's Fees Total £1,440 £4,500 £5,940