2022-04-05-accounts

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Registered No. 327392

The Robert Clayton Charitable Trust

Financial Statements

For the Year Ended

5 April 2022

The Robert Clayton Charitable Trust


Contents	Page
Trustees’ Annual Report		1
Legal and Administrative Details		2
Statement of Trustees’ Responsibilities		3
Independent Examiners’ Report		4
Receipts and Payments Account	5
Statement of Assets and Liabilities	6
Notes to the Financial Statements	7 - 9

The Robert Clayton Charitable Trust Trustees’ Annual Report

The trustees present their Annual Report and the financial statements for the year ended 5 April 2022. This report has been prepared in accordance with the provisions under section 133 of the Charities Act 2011 which allows for the preparation of Receipts and Payments accounts by charities with income less than £250,000.

Legal Status and Objects

The Charity was formed under a Trust Deed on 15 December 1986. The objects of the Charity were to accumulate income for the first 21 years for the benefit of the following:

1 To relieve elderly people from the disabilities attendant upon their age by providing for them accommodation adapted to their needs and nursing care and by such other means as the trustees think fit.
2 To promote, generally, such charitable purposes, institution or institutions having for their object the care and welfare of elderly people.

Review of Activities and Financial Performance

The financial statements have been prepared in accordance with the legislative requirements of the Charities Act 2011 as applicable to smaller charities in England and Wales.

The main source of income for the Charity is dividend income totalling £46,973 (2021: £45,488) and proceeds from the sale of investments. No donations have been received in the year.

During the year, the Trustees have borne in mind the Charity Commission’s guidance on public benefit. The Trustees found Age UK Cambridgeshire to be a suitable recipient of a further £23,750 grant (2021: £23,750).

The Charity has not been directly affected by the current cost of living crisis, which is a consequence of the Ukraine war and post-pandemic recovery. However, the trustees acknowledge that cost inflation has decreased the value of grants in real terms and that the nominal value of grants will need to increase to compensate.

Reserves Policy

The Trustees’ policy was to accumulate income for the first 21 years to provide sufficient funds to meet the objects of the Charity. Investments are made which are readily realisable to ensure that the liabilities of the Charity are met as they fall due. The intention is to generate income from the investments to allow grants to be made in accordance with the Charity’s objects.

Appointment of Trustees

The power of appointing trustees was vested in the settlor (Marguerite Green) during her lifetime, until she passed away.

Trustees

The trustees who held office during the year were:

Charles Robert Barker Hewitson Daniel Curtis Joseph

Approved by the trustees and signed on their behalf by:

C R B Hewitson Date:

Page: 1

The Robert Clayton Charitable Trust Legal and Administrative Details

Trustees

Charles Robert Barker Hewitson Daniel Joseph Curtis

Trust Address

50/60 Station Road Cambridge CB1 2JH

Legal Status

The Charity was formed as a Trust under a Deed dated 15 December 1986 Charity Commission Registration No: 327392

Bankers

Barclays Bank plc 9/11 St Andrews Street Cambridge CB2 3AA

Solicitors

Harrison Clark Rickerbys Ltd 50/60 Station Road Cambridge CB1 2JH

Investment Managers

Rathbones City House Hills Road Cambridge CB2 1RE

Independent Examiner

M Hewett FCA DChA Peters, Elworthy & Moore Chartered Accountants Salisbury House Station Road Cambridge CB1 2LA

Page: 2

The Robert Clayton Charitable Trust Statement of Trustees’ Responsibilities

The Trustees are responsible for preparing the annual report and financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

Law applicable to Charities in England and 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 Charity and of the incoming resources and application of resources of the Charity for that period. In preparing these financial statements, the trustees should follow best practice and:

Select suitable accounting policies and then apply them consistently;
Observe the methods and principles in the Charities SORP;
Make judgements and estimates that are reasonable and prudent; and
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the Charity and which enable them to ascertain the financial position of the Charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, supporting regulations and 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 other irregularities.

Page: 3

The Robert Clayton Charitable Trust Independent Examiner’s Report to the Trustees

I report on the accounts of the Charity for the year ended 5 April 2022 which are set out on pages 5

to 10.

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

The Charity's trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

The Charity’s trustees consider that an audit is not required for this year under section 144 of the Act and that an independent examination is needed.

It is my responsibility to:

examine the accounts under section 145 of the Charities Act,
to follow the applicable Directions given by the Charity Commission (under section 145(5)(b)) of the Act, and
to state whether particular matters have come to my attention

BASIS OF INDEPENDENT EXAMINER’S STATEMENT

My examination was carried out in accordance with general Directions given by the Charity Commission. 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 seeking explanations from the trustees concerning any such matters. 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.

INDEPENDENT EXAMINER’S STATEMENT

In connection with my examination, no material matters have come to my attention which gives me cause to believe that in any material respect:

accounting records were not kept in accordance with section 130 of the Charities 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.

M Hewett FCA DChA For and on behalf of PETERS, ELWORTHY & MOORE

Chartered Accountants Cambridge

Date:

Page: 4

The Robert Clayton Charitable Trust Receipts and Payments Account For the year ended 5 April 2022

Note
Receipts
From Voluntary Sources
Tax Credits
From Assets
Other interest - gross
Dividends
UK equities
2
Overseas equities
2
UK fxed interest
securities
2
Receipts sub-totals
Proceeds from sale of
investments
2
Total Receipts For Year
Payments:
Grants
Governance costs
3
4
Cost of generating funds:
Investment Management
fees
Other Payments
Payment for investment
assets
2
Total Payments For Year
Net Receipts/(Payments)
Transfer between funds
Total Movement In Funds
Cash Funds At Last Year
End
Cash Funds At This Year
End

Total Unrestricted Funds
5 April 2022 Total
Unrestrict
ed
Total
5 April
2021
£
£
£
-
-
184
-
-
35
29,448
29,448
27,018
14,771
14,771
11,816
2,754
2,754
6,654
46,973
46,973
45,707
385,069
385,069
368,651
385,069
385,069
414,358
23,750
6,324
23,750
6,324
39,500
6,458
8,124
8,124
7,364
342,441
342,441
395,727
380,639
380,639
449,049
51,403
51,403
(34,691
)
-
-
-
51,403
51,403
(34,691
)
47,690
47,690
82,381
99,093
99,093
47,690

Page= 5

The Robert Clayton Charitable Trust Statement Of Assets and Liabilities 5 April 2022

Note Monetary Assets Cash funds at year end Total Monetary Assets Liabilities Management and administration expenses Independent examiner’s fee Total Liabilities Non Monetary Assets Investment assets 2 Debtor: Outstanding dividend Total Non Monetary Assets	Unrestrict ed £ 99,093 99,093 3,180 1,632 4,812 1,644,017 - 1,644,017	2022 Total £ 99,093 99,093 3,180 1,632 4,812 1,644,0 17 - 1,644,0 17	2021 £ 47,690
			47,690
			1,968 1,482
			3,450
			1,621,81 4 99
			1,621,91 3

Approved by the Trustees and Signed by:

C R B Hewitson

D J Curtis

Date:

Page: 6

The Robert Clayton Charitable Trust Notes to the Financial Statements Year Ended 5 April 2022

1 Accounting Policies

The financial statements have been prepared under Section 133 of the Charities Act 2011 and following the guidance issued by the Charity Commission.

Particular accounting policies adopted by the trustees are described below.

a) Income and Expenditure

Income and expenditure is accounted for on a receipts and payments basis.

b) Investments

Investments are included at market value at the year end.

2 Investments

See schedule attached.

3 Grants

During the year, The Robert Clayton Charitable granted £23,750 to Age UK Cambridgeshire (2021: £23,750). No grants were made to Cherry Trees Day Centre, Cambridge during the year (2021: £15,750).

4 Governance costs

Independent examiner’s fees (re 2021 (2020 accounts)) Legal fees	2022 £ 1,482 4,842 6,324	2021 £ 1,434 5,016
		6,450

5 Related Party Transactions

Harrison Clark Rickerbys Ltd, of whom Mr Daniel Curtis is a partner, act as Solicitors to the Trust. During the year the Trust paid legal fees of £4,842 (2021: £5,016) to Harrison Clark Rickerbys Ltd.

6 Trustees’ Remuneration

None of the trustees received remuneration nor expenses during the current or previous period.

Page.. 7

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Page: 9

The Robert Clayton Charitable Trust

Contents

Legal Status and Objects

Review of Activities and Financial Performance

Reserves Policy

Appointment of Trustees

Trustees

Approved by the trustees and signed on their behalf by:

Trustees

Trust Address

Legal Status

Bankers

Solicitors

Investment Managers

Independent Examiner

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

BASIS OF INDEPENDENT EXAMINER’S STATEMENT

INDEPENDENT EXAMINER’S STATEMENT

M Hewett FCA DChA For and on behalf of PETERS, ELWORTHY & MOORE

The Robert Clayton Charitable Trust Receipts and Payments Account For the year ended 5 April 2022

The Robert Clayton Charitable Trust Statement Of Assets and Liabilities 5 April 2022

Approved by the Trustees and Signed by:

C R B Hewitson

D J Curtis

1 Accounting Policies

a) Income and Expenditure

b) Investments

2 Investments

3 Grants

4 Governance costs

5 Related Party Transactions

6 Trustees’ Remuneration