## THE SPENCER CHARITABLE TRUST ## THE TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 ## 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 2021, despite the onset of extremely uncertain conditions due to the global pandemic our income was £54,066. Expenditure was high this year at £27,400. This increase was possible because this year saw an increase in the overall portfolio as a final 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 £5,863940. The year also saw a change in the portfolio management team. As WH Ireland was taken over by Ravenscroft International, our longstanding Portfolio Manager David Bushe was replaced by Chris Bell. Stephen Spencer consulted with Mr Bell and agreed a new level of quarterly payment should be made to the CAF Bank (at £ 40 k) in order to grow our charitable donations in 2022. ## 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 2022 - Monitor the situation and continue to improve our income and increase donations in line with the new schedule of quarterly increments distributed from the portfolio. - Check the state of the Bluebell Wood sight in June and see if the maintenance is required at the current level. STEPHEN SPENCER **THE SPENCER CHARITABLE TRUST ACCOUNTS TO 31[ST] DECEMBER 2021** ## **THE SPENCER CHARITABLE TRUST** ## **INCOME AND EXPENDITURE ACCOUNT** ## **FOR THE YEAR ENDED 31 DECEMBER 2021** |2020||TOTAL TRUST|TOTAL TRUST| |---|---|---|---| |£||£|£| ||**INCOME**||| |48,089|Dividends||54,066| |0|Interest||0| |48,089|||54,066| ||**EXPENDITURE**||| |19,138|Brokers fees|25,260|| |60|Bank charges|173|| |3,419|Bluebell Wood expenses|1,149|| |0|Independent review fees||0| |4,500|Bookkeeping fees|4,500|| |2,600|Donations - University of Bristol|2,600|| |60,400|General donations|27,400|| |90,117|||61,082| ||||| |(42,028)|EXCESS OF INCOME||(7,016)| ||**RESERVES CARRIED TO BALANCE**|**SHEET**|| ||**REVENUE RESERVE**||| |261,313|Balance brought forward||219,285| |(42,028)|Reserves for 2021||(7,016)| |219,285|Balance carried forward||212,269| ||**CAPITAL RESERVE**||| |479,966|Balance brought forward||436,410| |(43,556)|Gain for 2021||(85,798)| |436,410|Balance carried forward||350,612| ||**VALUATION RESERVE**||| |37,828|Balance brought forward||295,529| |257,701|Revaluation for 2021||473,530.00| |295,529|Balance carried forward||769,059| ## **THE SPENCER CHARITABLE TRUST** ## **BALANCE SHEET** ## **AS AT 31 DECEMBER 2021** |2020
**ASSETS**
3,629,675 Shares at cost
257,701 Revaluation
3,887,376 Shares at market value
41,545 Bluebell Wood at cost
284,303 Cash at bank/WHI
4,213,224
**FINANCED BY:**
3,262,000 CAPITAL
219,285 REVENUE RESERVE
436,410 CAPTIAL RESERVE
0 LOAN ACCOUNT
295,529 VALUATION RESERVE
4,213,224|TOTAL
TRUST
£
4,920,120
473,530| |---|---| ||5,393,650
41,545
428,745| ||5,863,940| ||4,532,000
212,269
350,612
0
769,059| ||5,863,940| 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 THE SPthicER CAfveiTA8Le TwsT On accounts for the year ended Charity no (if any) 32g698 31112lzi Set out on pages I report to the trustees on my examination of the accounts of the above charity ("the Trust-l for the year ended Responsibilities and As Ihe charity trustees of the Tnjst, you are responsible for the preparation basis of roport of the accounts in accordance with the requirements of the Charities Act 20111-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 carying out my examination. I have followed the applicable Directions given by the Charity Commission under section 14515)(b) of the Act. I have completed my examination. I confirm that no material matters have in connection with come to my attention the examination which gives me cause to believe that in. any material respect.. accounting re￿rdS were not kept in accordance with seclion 130 of the Act or the accounts do not accord with Ihe accounting records Independent examiner's statement 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. ease del te e words in the brackets rf they do not apply. Date.. Signed: Name: N4fi1< wflLLI5 ACTB 6}c FinqDLial SIr￿LC￿lS. Relevant professional qualification{s) or body (if any): Address: 5 GrqiTh T SLO o 540 October 2018 IER Section B Disclosure Only Gomplele if the examiner needs to highlighl matters of concern (see CC32, Independent examination of charity accounts.. directions and guidance for examiners). Give here brief details of any items that the examiner wishes to disclose. October 2018 IER