## THE SPENCER CHARITABLE TRUST 

## THE TRUSTEES REPORT 

FOR THE YEAR ENDED 31 DECEMBER 2020 

## BACKGROUND & AIMS 

The Spencer Charitable Trust was started in 1984.  It is a family charity, financed and run by the family. 

The aims are to support causes directed to helping young people, women, BAME, homeless and mentally ill to progress and thrive by facilitating the work of others who provide services for those groups in need.  The focus is on both local and general charities. 

## FINANCIAL OPERATION 

The income and fortune of the charity is based on a Share Portfolio held by DH Ireland in Douglas, Isle of Man. Consequently, the growth or losses of the SCT are influenced by the movement of the stock market and global events.  In 2020, despite the onset of extremely uncertain conditions due to the global pandemic our income was £48,069. Expenditure was high this year at £60,400. 

This level of increase was possible because this year saw an increase in the overall portfolio as a large amount of income was released from the deceased estate of the founders Mr EB Spencer and Mrs WB Spencer bringing the total amount to £4,213,224. 

In addition, two additional trustees were added in November 2019 – these are Thomas Spencer and Alice Spencer. Each additional trustee has already nominated some new charities for which donations have been made. 

## ANNE SPENCER MEMORIAL LECTURE 

The impact of Covid meant that the annual Anne Spencer Memorial Lecture, could not go ahead this year. Stephen Spencer was in touch with Ed Davies of the Multi-Faith Chaplaincy at University of Bristol, and we decided to monitor the situation – but the uncertainty around public gatherings meant shelving plans for this year. 

## PLANS FOR 2021 

• Monitor the situation and continue to improve our income and increase donations. 

STEPHEN SPENCER 



**THE SPENCER CHARITABLE TRUST ACCOUNTS TO 31[ST] DECEMBER 2020** 



## **THE SPENCER CHARITABLE TRUST** 

## **INCOME AND EXPENDITURE ACCOUNT** 

## **FOR THE YEAR ENDED 31 DECEMBER 2020** 

|2019||TOTAL TRUST|TOTAL TRUST|
|---|---|---|---|
|£||£|£|
||**INCOME**|||
|32,788|Dividends||48,089|
|0|Interest||0|
|32,788|||48,089|
||**EXPENDITURE**|||
|7,202|Brokers fees|19,138||
|81|Bank charges||60|
|761|Bluebell Wood expenses|3,419||
|0|Independent review fees||0|
|2,625|Bookkeeping fees|4,500||
|2,600|Donations - University of Bristol|2,600||
|27,400|General donations|60,400||
|40,669|||90,117|
|||||
|(7,881)|EXCESS OF INCOME||(42,028)|
||**RESERVES CARRIED TO BALANCE**|**SHEET**||
||**REVENUE RESERVE**|||
|269,194|Balance brought forward||261,313|
|(7,881)|Reserves for 2020||(42,028)|
|261,313|Balance carried forward||219,285|
||**CAPITAL RESERVE**|||
|366,621|Balance brought forward||479,966|
|113,345|Gain for 2020||(43,556)|
|479,966|Balance carried forward||436,410|
||**VALUATION RESERVE**|||
|13,129|Balance brought forward||37,828|
|24,699|Revaluation for  2020||257,701|
|37,828|Balance carried forward||295,529|





## **THE SPENCER CHARITABLE TRUST** 

## **BALANCE SHEET** 

## **AS AT 31 DECEMBER 2020** 

|2019<br>**ASSETS**<br>2,269,138 Shares at cost<br>37,828 Revaluation<br>2,306,966 Shares at market value<br>41,545 Bluebell Wood at cost<br>192,596 Cash at bank/WHI<br>2,541,107<br>**FINANCED BY:**<br>1,762,000 CAPITAL<br>253,432 REVENUE RESERVE<br>593,311 CAPTIAL RESERVE<br>0 LOAN ACCOUNT<br>62,527 VALUATION RESERVE<br>2,671,270|TOTAL<br>TRUST<br>£<br>3,629,675<br>257,701|
|---|---|
||3,887,376<br>41,545<br>284,303|
||4,213,224|
||3,262,000<br>219,285<br>436,410<br>0<br>295,529|
||4,213,224|





CHARITY COMMISSION
FOR ENGLAND AND WALES
Independent examiner's
report on the accounts
Section A
Independent Examiner's Report
Report to the trusteesl
members of
fHÉ SPWCEft c+WeifA8LE TeuST
On accounts for the year
ended
Charity no
lif any)
3266q8
31112110
Set out on pages
I report to the trustees on my examination of the accounts of the above
charity ("the Trust") for the year ended
Responsibilities and As the charity tnjstees of the Tnjst, you are responsible for the preparation
basis of report of the accounts in accordance with the requirements of the Charities Act
2011 1"the Act").
I report in respect of my examination of the Trust's accounts carried out
under section 145 of Ihe 2011 Act and in carrying out my examination, I
have followed the applicable Directions given by the Charity Commission
under section 145(5){bl of the Act.
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:
accounting records were not kept in accordance with section 130 of
the Act or
the accounts do not accord with the accounting records
I have no concerns and have come across no other matters in connection
with the examination to which attention should be drawn in order to enable a
proper understanding of the accounts to be reached.
Please delete the
ords in the brackets if they do not apply.
Oate:
Independent
examinei's statement
t2
Signed:
Name:
M A@1< bJiLLI
Relevant professional
qualification(sl or body
(if any):
Address:
FAAIL
'*SL c. off VlJiThJ
541)
October 2018
IER

Section B
Disclosure
Only complete if the examiner needs to highlight matters of concern (see CC32,
Independent examin81ion of charity accounts-. directions and guidance for
examiners).
Give here brief details of
any items that the
examiner wishes to
disclose.
October 2018
IER