Charity number: 327745 ROBYN CHARITABLE TRUST UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024
ROBYN CHARITABLE TRUST CONTENTS Page Reference and Administratlve Detalls of the Charity. its Trustees and Advlsers Trustees. Report Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Flnancial Statements 10-16
ROBYN CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2024 Trustees R Harris M Knopfler K Aldridge-Knopfler Charlty reglstered number 327745 Prlncipal offlce 101 New Cavendish Street 1 st Floor South London W1W6XH Independent Examlner Bnndley Goldstein Ltd Chartered Accountant 103 High Street Waltham Cross Herttordshire EN8 7AN Page 1
ROBYN CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2024 The Trustees present their annual report together with the financial statements of the Charity for the 6 April 2023 to 5 April 2024. Structure, governance and management Robyn Charitable Trust was registered wtth the Charity Commission in England and Wales on 29 March 1988. The Charity number is 327745, and it is constituted under a Trust deed. The trustees who served dunng the year were: R Harris M Knopfler K Aldridg&Knopfler Existing trustees brief new trustees on the Charity's aims and objectives. They are given a copy of the Declaration of Trust along with the latest financial slatements. They are also given literature about the Charity and a copy of the Chanty Commission's guidelines for Tnjstees, which will help them fulfil their role in line with charity law. The trustees review the strategic activities and financial position of at its regular board meetings. They consider potential nsks top which the charity is exposed. As part of this process. the trustees have implemented a risk management strategy which Comprises an annual review of the risks which the charity may face and the establishment of systems and Procedures to mitigate those risks identified in the plan and the implemenlation of procedures designed to minimise any potenlial impact on the charity should those nsks materialise. The Trustees have assessed the major risks to which the chanty is exposed. in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks. In accordance with the Trust deed, the trustees have the power to invest in such assets as they see fit. The Charity has a policy of keeping surplus liquid funds in short lerni deposits. This low risk investment policy provided the Ilexibility in making charitable grants and ensures the charity has adequate funds to meet ongoing grant commitments and administration costs in accordance with ils reserves policy. Objectlves and activities The Charity objectives are-. to continue support of children in need of educalion anywhere in the worfd any other charitable objectives at the discretion of the trustees Page 2
ROBYN CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED S APRIL 2024 Achievements and performance The income for the Charity for the period under review was £62,25212023 £45,307) and the expenditure in the furtherance of the Charity's objectives was £1 11,227 {2023. £67.230)- The trustees are grateful to all donors for their contnbutions to the Charity during the year and their continued support in the future. The Charity's cash reserves at Ihe year end were £1.936,187 (2023. £1,862.6301. Fundraising During the year the Charity didn't cary out any fundraising activities and all the income was generated from volunlary donations and proceeds from the sale of unlisted investment. Flnanclal revlew . Golng concern After making appropriate enquiries, the Trustees have a reasonable expedation that the Chariiy has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. b. Reserves policy The trustees have adopted a reserves policy vh)ereby sufficient cash reserves are held to cover future committments. The balance of cash reserves at 5 April 2024 was £1,936,187 (2023. £1,862,630). c. Risk Management The Trustees have assessed the major nsks to which the charity is exposed. in particular those related to the operations and finances of the charity. and are salisfied that systems and procedures are in place to mitigate our exposure to the major risks. In accordance wilh the trust deed. the trustees have the power to invest in such assets as they see fit. The Charity has a policy of keeping surplus liquid funds in short lenn deposits. This low risk investment policy provided the flexibility in making charitable grants and ensures the charity has adequate funds to meet ongoing grant commitments and administration costs in arxordance with its reseprfes policy. Investment Policy The Charity holds Investments in order to generate retums to help its charitable objectives and to fund future projects. The trustees adopt a prudent investment policy to ensure potential return5 are well balanced with the appropriate levels of risk. Page 3
ROBYN CHARITABLE TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED S APRIL 2024 Statement of Trustees. responsibilities The Trustees are responsible for Preparing the Trustees, Report and the financial slatements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice}. The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees afe required to. select suitable accounting policies and then apply them consistently.. observe the methods and principles of the Charities SORP {FRS 102); make judgments and accounting estimates that are reasonable and prudent.. state whether applicable UK Accounting Standards {FRS 1021 have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the finar)cial statements on the going concem basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of 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 irregulanties. Approved by order of the members of the board of Trustees and signed on their behalf by.. M Knop er Date.. Page 4
ROBYN CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2024 Independent Examiner's Report to the Trustees of Robyn Charitable Trust I'the Chartty'i I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 5 April 2024. Responsibilities and Ba$ls of Report As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {'the 2011 Act')- I report in respect of my examination of the Charity's accounts c2rried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145{5llb) of the 2011 Act. Page 5
ROBYN CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Independent Examiner's Statement Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102} in preference to the Accounting and Reporting by Charities. Statemenl of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. l understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginnin9 on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act, or the accounts do not accord wilh those records,. or the accounts do not comply wrth the applicable requirements concerning the form and content of accounts set out in ttte Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Page 6
ROBYN CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED S APRIL 2024 Thi5 report is made solely to the Charity's Trustees. as a body, in accordance with Part 4 of the Charities {Accounls and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters l am required lo state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law. I do not accept or assume responsibility to anyone other than the Chanty and the Charity's Trustees as a body, for my work or for this report. Dated 06101125 Charles Goldslein Brindley Goldstein Ltd 103 High Street Waltham Cross EN8 7AN Page 7
ROBYN CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED S APRIL 2024 Unrestricted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Investments 8.949 36, 358 62,252 62,252 Total Income 62.252 62,252 45,307 Expenditure on: Charitable activities.. Donations paid Independenl examinef 110,420 807 110,420 807 66,480 750 Total expendlture 111.227 111,227 67,230 Net expendlture before net (lo$ses)Igalns on investments Net Ilosses}Igains on investments (48,975} (68.894) (48.97SI (68,894 (21,923) 775, 695 Net movemont In funds 1117,869) {117,869) 753. 772 Reconclllatlon of funds: Total funds broughl forward Net movement in funds 2,681.246 (117,869 2,681.246 (117,8691 1,927,474 753, 772 Total funds carrled forward 2.563.377 2,563,377 2,681,246 The Statement of Financial Activities indudes all gains and losses recognised in the year. The note5 on pages 10 to 16 form part of these financial statements. Page 8
ROBYN CHARITABLE TRUST BALANCE SHEET AS AT 5 APRIL 2024 2024 2023 Note Fixed assets Investments 627,970 696,864 627.970 696,864 Current assets Debtors Cash at bank and in hand 122,504 1,862, 630 1,936,187 1.936,187 7,985, 134 Creditors. amounts falling due wrthin one year (780) (752) Net current assets 1,935.407 1,984,382 Total assets less current Ilabllltles 2,563,377 2,681,246 Net assets excludlng ponslon asset 2,563,377 2,681,246 Total net assets 2,563.377 2,681,246 Charlty funds Unrestricted funds 10 2,563,377 2,681.246 Total funds 2,563,377 2,681,246 The financial statements were approved and authonsed for issue by the Tnjstees and signed on their behalf by.. M Knopfler Date: The notes on pages 10 to 16 fomi part of these financial statement5. Page 9
ROBYN CHARrrABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Accounting policies 1.1 Basls of preparation of financlal statements The financial statements have been prepared in acrdanCe with the Charities SORP {FRS 102) 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 (FRS 1021 (effective 1 January 20191. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Acl 2011. The financial statements have been prepared to give a 'true and fair, view and have departed from the Charities {Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fairf view. This departure has involved following the Charities SORP IFRS 102) published in October 2019 rather than the Accounting and Reporting by Charities. Statement of Recommended Practice effective from 1 Apnl 2005 which has since been withdrawn. Robyn Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost Of transaction value unless otherwise stated in the relevant accounting policy. 1.2 Income All income is recognised once the Charity has entitlement to the income, it is probable that th8 income will be received and the amount of income receivable can be measured reliably. The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate wth sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Chanty has sufficient evidence that a gift has been left lo them (through knowledge of the existence of a valid will and the death of Ihe benefactor) and the executor is satisfied that Ihe propety in question will not be required to salisfy claims in the estate. Receipt of a legacy musl be recognised when It Is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed lo the Charity, can be reliably measured. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. 1.3 Expendlture Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit to a third party. it is probable that a transfer of economic benefils will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by aclivity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs vthich contnbule to more than one activity and support costs which are not attributable to a single activity are apportioned beeen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basi5 of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. Page 10
ROBYN CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 Accountlng pollcles (contlnued 1.3 Expenditure (continued) Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. 1.4 Investments Fixed asset investments are a form of financial instrument and are inilially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet dale, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised. are combined and presenled as 'Gainsl{Lossesl on investments, in the Statement of Financial Activrties. 1.5 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.6 Cash at bank and In hand Cash at bank and in hand includes cash and $hort-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 1.7 Llabllltles and provlsions Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event. it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material. the provision is based on the present value of those amounts, discounled at the Pre-tax discount rale that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost. 1.8 Financial instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are inilially fecognised at transaction value and subsequently measured at their settlement value with the exceplion of bank loans which are subsequently measured at amortised cost using the effective interest method. Page11
ROBYN CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 A¢countlng policies (continued) 1.9 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Investment income, gains and losses are allocated to the appropriate fund. Income from donatlons and legacies Unrestrlcte d funds 2024 Total funds 2024 Total funds 2023 Other donations 8,949 Total 2023 8,949 8, 949 Investment income Unrestrlcte d funds 2024 Total funds 2024 Total funds 2023 Income from unlisted investments Dividends received Bank interest received 9,097 19,996 7, 265 20,241 42,011 20,241 42,011 62,252 62.252 36.358 Total 2023 36, 358 36.358 Page 12
ROBYN CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 Anatysis of expenditure on charitable activlties Summary by fund type Unrestricte d funds 2024 Total 2024 Total 2023 Donations paid Independent examiner fee 110,419 808 110.419 808 66,480 750 111.227 111.227 67,230 Total 2023 67.230 67.230 Independent examlnerfs remunefatlon 2024 2023 Fees payable to the Charity's independent examiner for the independent examination of the Charity's annual accounts 808 750 Trustees. remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). During the year ended 5 April 2024. no Trustee expenses have been incurred (2023 - £NIL). Page 13
ROBYN CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Fixed asset investments Listed investm8nts Cost or valuation At 6 April 2023 Revaluations 696,864 168,8941 At 5 April 2024 627,970 Net book value At 5 April 2024 627,970 At 5 Apnl 2023 696, 864 Debtors 2024 2023 Due wlthln one year Other debtors 122,504 122, 504 Creditors: Amounts falling due withln one year 2024 2023 Accruals and deferred income 780 752 Page 14
ROBYN CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 10. Statement of funds Statement of funds - current year Balance at 6 April 2023 Gainsl Balance at 5 (Losses) Aprll 2024 Income Expenditure Unrestrlcted funds Reserves 2,681.246 62,252 1111,227) 168,894) 2.563,377 Statement of funds - prior year Balance al l Apnl 2022 Gainsi Balance at (Losses) 5 April 2023 Income Expenditure Unrestrlcted funds Reserves 1,927,475 45, 306 (67,230) 775, 695 2,681,246 Summary of funds Summary of funds - current year Balance at 6 April 2023 Gain$1 Balance at S ILosses) April 2024 Income Expenditure General funds 2.681.246 62,252 (111,2271 (68.8941 2,563.377 Summary of funds - prior year Balance at 1 April 2022 Gainsv Balance at (Losses) 5 April 2023 Income Expenditure General funds 1,927.475 45,306 (67, 230) 775,695 2,681,246 Page 15
ROBYN CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 12. Anatysis of net assets between funds Analysis of net assets between funds - current perlod Unrestrlcte d funds 2024 Total funds 2024 Fixed asset investments Current assets Creditors due wthin one year 627,970 1,936,187 1780) 627,970 1,936,187 (780) Total 2,563,377 2,563,377 Anatysls of net assets between funds - prlor perlod Unr8Stricted funds 2023 Total funds 2023 Fixed asset investments Currenl assets Creditors due wilhin one year 696, 864 1,985, 134 (752) 696,864 1,985, 734 (752) Total 2,681,246 2,681,246 13. Related party transactions The Charity has not enlered into any related paty transaction during the year, nor are there any outstanding balances owing beleen related parties and the Charity at 5 April 2024. Page 16