2025-04-05-accounts - The Robert Clayton Charitable Trust

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Registered No. 327392

The Robert Clayton Charitable Trust

Financial Statements

For the Year Ended

5 April 2025

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 2025. 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 £55,768 (2024: £54,532) 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 suitable recipients of grants totalling £8,404 (2024: £70,784).

The Charity has not been directly affected by the current cost of living crisis. 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 Joseph Curtis

Approved by the trustees and signed on their behalf by:

D J Curtis 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 2025 which are set out on pages 5 to 9.

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 2025

Note Receipts From Assets Dividends UK equities 2 Overseas equities 2 UK fixed interest securities 2 Receipts sub-totals Interest 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) Total Movement In Funds Cash Funds At Last Year End Cash Funds At This Year End	Total Unrestricted Funds 5 April 2025 Unrestricted Total £ £ 26,780 26,780 16,736 16,736 12,252 12,252 55,768 55,768 551 542,433 551 542,433 598,752 598,752 8,404 6,966 8,404 6,966 7,836 7,836 531,873 531,873 555,079 555,079 (43,673) (43,673) (43,673) (43,673) 25,155 25,155 68,828 68,828	Total 5 April 2024 £ 30,796 14,007 9,729 54,532 465 199,944 254,941 70,784 6,480 7,696 183,300 268,260 (13,319) (13,319) 38,474 25,155

Page: 5

The Robert Clayton Charitable Trust Statement Of Assets and Liabilities 5 April 2025

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	Unrestricted £ 68,828 68,828 3,876 2,112 5,988 1,609,292 - 1,609,292	2025 Total £ 68,828 68,828 3,876 2,112 5,988 1,609,292 - 1,609,292	2024 £ 25,155
			25,155
			2,616 2,016
			4,632
			1,624,285
			1,624,285

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 2025

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. The gross recorded income from all sources did not exceed £250,000 and the charity is not a company incorporated under the Companies Acts.

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 Trust granted £8,404 to Age UK (2024: £70,784).

4 Governance costs

overnance costs
Independent examiner’s fees (re 2024 (2023 accounts)) Legal fees	2025 £ 2,016 4,950 6,966	2024 £ 1,920 4,560
		6,480

5 Related Party Transactions

Harrison Clark Rickerbys Ltd, of which Mr Daniel Curtis is a partner, act as Solicitors to the Trust. During the year the Trust paid legal fees of £4,950 (2024: £4,560) to Harrison Clark Rickerbys Ltd.

6 Trustees’ Remuneration

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

Page: 7

Investments held at	Investments held at	Acquisitions	Acquisitions	Reorganisations - Additions	Reorganisations - Additions	Disposals	Disposals	Reorganisations -disposals	Reorganisations -disposals	Investments held a	t	Income Received Gross 497 150 3,150 2,500 263 1,063	Gain/(Loss) on Disposals - 742 - (978) - -
Book Holding Value 20,000 39,983 30,000 29,258 50,000 51,123 50,000 50,978 30,000 21,735 - - 193,077 30,000 32,733 50,000 51,279 84,012 80,000 38,947 600 8,715 1,000 14,227 3,000 32,775 16,500 18,307 2,500 35,189 u 19,962 49,085 3,000 34,978 4,000 41,543 17,176 37,240 25,000 21,669 500 31,427 1,000 23,614 16,153 21,803 2,500 26,714 30,000 30,180 25,000 25,219 30,000 31,422 1,200 9,472 5,000 36,870 2,000 34,135 - - - - 603,531 6 April 2024		Holding Cost - - - - 20,000 20,684 - - - - 100,000 102,130 122,814 - - - - - - - - - - - - - - - - - - - - - 1,166 7,521 - - - - - - - - - - - - - - - - - - - - - - - - 1,500 34,126 7,500 18,862 60,509		Holding	Cost - - - - - - - - - - - -	Holding Cost Proceeds - - - 30,000 29,258 30,000 - - - 50,000 50,978 50,000 - - - - - - 80,236 80,000 - - - - - - - - 30,000 14,605 17,498 - - - - - - 3,000 32,775 21,710 - - - 500 7,038 13,548 5,962 14,660 18,943 3,000 34,978 30,086 2,166 20,571 22,602 - - - 25,000 21,669 19,522 500 31,427 21,353 - - - - - - - - - 30,000 30,180 30,000 - - - - - - - - - 5,000 36,870 44,071 2,000 34,135 32,282 - - - - - - 278,908 271,615		Holding	Cost - - - - - - - - - - - -	Book Holding Value 20,000 39,983 - - 70,000 71,807 - - 30,000 21,735 100,000 102,130 235,655 30,000 32,733 50,000 51,279 84,012 50,000 24,342 600 8,715 1,000 14,227 - - 16,500 18,307 2,000 28,151 14,000 34,425 - - 3,000 28,492 17,176 37,240 - - - - 1,000 23,614 16,153 21,803 2,500 26,714 - - 25,000 25,219 30,000 31,422 1,200 9,472 - - - - 1,500 34,126 7,500 18,862 385,131 5 April 2025	Market Value 41,870 - 70,941 - 22,943 102,668
					-				-		238,422	7,622	(236)
					- - - -				- - - -		31,970 51,522	1,754 2,875	- -
					-				-		83,492	4,629	-
					- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -				- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -		32,500 25,434 46,940 - 12,408 49,630 46,971 - 31,020 30,831 - - 11,655 16,961 39,122 - 26,162 31,344 17,010 - - 37,530 16,688	2,320 2,028 1,481 341 1,233 2,293 - 888 2,040 1,803 694 - 600 1,615 - 2,700 1,438 1,545 732 1,150 - 333 1,547	2,893 - - (11,065) - 6,510 4,283 (4,892) 2,030 - (2,147) (10,074) - - - (180) - - - 7,201 (1,853) - -
	603,531		60,509		-		278,908 271,615		-		472,206	26,780	(7,293)

Page: 8

Europe Roche Holdings (NPV shares) 100 22,468 - - DSM Firmenich AG 150 19,825 - - Blackrock Fund Managers LTD - - 36,511 52,091 JP Morgan FTSE/Euro inc - - - - Marlborough Fund MGRS - - 4,000 29,618 Novo-Nordisk AS - - 500 35,106 Vanguard Investments FTSE - - 400 14,637 X-Trackers (IE) PLC - - 1,000 70,319 42,293 201,772 North American ishares USD TIPS HEDGED 10,000 54,801 - - iShares PLC (S&P 500 Shares) 1,600 9,579 - - JP Morgan Asset Mgrs (UK) 76,000 85,164 - - SPDR Series Trust 2,300 102,109 700 41,738 AstraZeneca ord US$0.25 300 25,650 - - JP Morgan Asia Growth & Income Trust ord 25p 8,100 41,656 - - BP plc ord $0.25 4,000 15,199 - - Goldman Sachs Group Inc 1.5% Snr EMTN 7/12/2027 40,000 35,670 - - Goldman Sachs 3.625% Floating Rate Snr EMTN 20,000 18,045 - - iShares PLC USD TIPS 0-5 UCITS ETF (USD) - - 8,500 34,096 387,873 75,833 Japan Baillie Gifford Shin Nippon (Ord 10p) 10,000 2,486 - - JP Morgan Japanese INV Trust 5,000 22,553 - - Shimano INC NPV 140 24,323 - - 49,362 - Asia Mercantile investments TST PLC ord 2 1/2 - 8,000 19,904 Schroder Investment MGMT - 40,000 31,383 - 51,287 Global Investments Guinness Global Equity Z Inc 2,000 36,238 - - JP Morgan GBL Emerg Mkts INC ord 1p - - 15,000 20,296 36,238 20,296 Cash - Capital Account - 22,117 - - Total 1,418,503 532,511	- - 100 22,468 18,567 - - 150 19,825 13,143 - (276) - - - - - - - - - (113) - - - - - - - - - - - - - - - - - - (389) 42,293 31,709 - - 10,000 54,801 48,025 - - 1,600 9,579 64,676 - - - - - - - - - - - - - - - - - 8,100 41,656 28,985 - - - - - - - - - - - - - - - - - - - - - 106,036 141,686 - - - - - - - - - - - - 140 24,323 17,423 - 24,323 17,423 - - - - - - (250) - - - (250) - - - - - - - - - - - - - - - - - - - - (638) 531,796 542,433	- - - - - - - - - - 36,511 51,816 - - - - - - 4,000 29,505 - - 500 35,106 - - 400 14,637 - - 1,000 70,319 - 201,383 - - - - - - - - - - 76,000 85,164 - - 3,000 143,847 - - 300 25,650 - - - - - - 4,000 15,199 - - 40,000 35,670 - - 20,000 18,045 - - 8,500 34,096 - 357,671 - - 10,000 2,486 - - 5,000 22,553 - - - - - 25,039 - - 8,000 19,904 - - 40,000 31,133 - 51,037 - - 2,000 36,238 - - 15,000 20,296 - 56,534 - - - 48,280 - 1,444,742	- - 50,683 - 28,532 24,587 13,154 67,600	- (3,901) - (6,682) 857 - - - 434 - 322 - 734 - - - 2,346 (10,584) - (6,776) 183 55,097 2,778 - 3,185 - 737 - 316 (12,671) 968 - 600 - 725 - 2,163 - 11,655 35,650 80 - 338 - - (6,900) 418 (6,900) 240 - 770 - 1,010 - 1,308 - - - 1,308 - - - 55,768 10,637
			184,556
			- - 118,864 165,000 32,424 - 14,828 37,020 19,440 33,509
			421,085
			9,970 25,500 -
			35,470
			16,800 28,768
			45,568
			61,313 18,900
			80,213
			48,280
			1,609,292

Page: 9