THE MARY ROBERTSON TRUST
Registered charity number: 327900
Annual Report and Financial Statements Year ended 5 April 2023
Trustax Services Limited
Howitt Building Lenton Boulevard Nottingham NG7 2BY
Page 1
THE MARY ROBERTSON TRUST
Annual Report and Financial Statements Year ended 5 April 2023
| Page | |
|---|---|
| Legal and administrative information | 2 |
| Report of the trustees | 3 |
| Accountants' report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 to 10 |
THE MARY ROBERTSON TRUST
Legal and administrative information Year ended 5 April 2023
Page 2
| Governing document: | Deed dated 11 July 1988 |
|---|---|
| Settlor: | Miss Mary Forrest Robertson |
| (Deceased 21 March 2013) | |
| Trustees: | Professor Christopher O'Brien, OBE |
| Anthony Huntington | |
| Leslie Morley | |
| Helen Scott | |
| Pam Collins | |
| Charity registration number: | 327900 |
| Administrative address: | c/o Paragon Law |
| 7 Broad Street | |
| Nottingham | |
| NG1 3AJ | |
| Investment manager: | Quilter Cheviot |
| Provincial House | |
| 37 New Walk | |
| Leicester | |
| LE1 6TU | |
| Accountants: | Trustax Services Limited |
| V15 Howitt Building | |
| Lenton Boulevard | |
| Nottingham | |
| NG7 2BY | |
| Solicitors: | Freeths LLP |
| 80 Mount Street | |
| Nottingham | |
| NG1 6HH | |
| Bankers: | National Westminster Bank |
| 19 High Road | |
| Beeston | |
| Nottingham | |
| NG9 2JX |
THE MARY ROBERTSON TRUST
Trustees' report Year ended 5 April 2023
Page 3
The Trustees present their report and financial statements for the year ended 5 April 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements (page 7) and comply with the Trust Deed dated 11 July 1988, the Charities Act 2011 and the Statement of Recommended Practice: Accounting and Reporting by Charities 2005.
The Trustees confirm that in reviewing and determining the objectives and activities for the year and in the future, they have referred to the guidance contained in the Charity Commission General Guidance on public benefit.
Structure, governance and management
The Trust was created by a Deed on 11 July 1988 by Miss Mary Forrest Robertson with an initial gift from her.
The Trust is managed by the Trustees, as shown on page 2.
Objectives and activities
The objective of the Trust is General Charitable Purposes by making grants to individuals and organisations for the benefit of:
Children and young people Elderly and old people People with disabilities Other charities and voluntary bodies
Grant making policy
The Trustees meet normally twice per year to consider applications and to make donations for general charitable purposes in line with the objectives of the Trust. Donations can also be approved where necessary between meetings. All applications are considered. The Trust has been particularly interested in benefitting people from the East Midland areas of the UK.
Key achievements for 2022/23
The Trust has made a total of 64 donations and grants over the year totalling £94,763.
Public benefit statement
The Trust directly meets the needs of the public by continuing to target the majority of its donations towards supporting those organisations which provide services for young people, the disadvantaged, the homeless, the elderly and the sick.
Financial review and investment policy
The Trust's assets derive entirely from the benefactions from its founder which are invested in a fund managed by Quilter Cheviot. The Trust maintains a conservative attitude towards risk. Its investment portfolio is spread widely and is managed to maintain the value of the fund while generating a reasonable income from dividends for disbursement. Both the capital growth and the income generated from dividends have exceeded the industry average for the year. The Trust seeks to make annual donations equivalent in value to the return on its investments.
Page 4
THE MARY ROBERTSON TRUST
Accountants' report Year ended 5 April 2023
We have prepared the financial statements for the year ended 5 April 2023 set out on pages 5 to 9 from the primary records of the Trust and the information provided by the Trustees.
We have not carried out an audit.
L Hindocha Director
21 December 2023
Trustax Services Limited V15 Howitt Building Lenton Boulevard Nottingham NG7 2BY
THE MARY ROBERTSON TRUST
Statement of financial activities Year ended 5 April 2023
Page 5
| Notes INCOME AND EXPENDITURE Incoming resources from generated funds: Investment income 1 Listed security dividends #### 2 Other dividends #### 3 Listed security interest #### 5 Foreign dividends #### 6 Foreign interest 181.00 3,619 Total incoming resources Resources expended Cost of generating funds ### Investment management fees Charity activities Donations and grants 2 Governance costs Accountancy charges Bank charges 22 Total resources expended Net outgoing resources Other recognised gains and losses: Realised gains less losses for the year Net movements in funds |
a b c d e |
Unrestricted | £ 54,441 10,354 10,001 25,071 3,619 103,486 116,654 (13,168) 269,966 256,798 funds 2023 |
Unrestricted | £ 46,299 9,236 9,927 22,967 3,042 91,471 126,612 (35,141) 70,808 35,667 funds 2022 |
|
|---|---|---|---|---|---|---|
| £ 20,669 94,763 1,200 22 |
£ 20,646 104,900 1,000 66 |
THE MARY ROBERTSON TRUST
----- Start of picture text -----
Balance sheet
As at 5 April 2023 Page 6
2023 2022
Notes £ £ £ £
Fixed assets investments
Listed securities at book value 3 2,860,217 2,605,934
Current assets
Cash at bank 25,160.50 25,161 22,446
Creditors: amounts falling due within
one year
Accrued charges 4 1,200 1,000
Net current assets 23,961 21,446
Net assets 2,884,178 2,627,380
- -
Funds
Unrestricted funds 5 2,884,178 2,627,380
Total funds 2,884,178 2,627,380
----- End of picture text -----
The financial statements were approved and authorised for issue by the trustees and signed on their behalf by:
C O'Brien Honorary Treasurer 21 December 2023
Notes to the financial statements
Page 7
THE MARY ROBERTSON TRUST
Year ended 5 April 2023
1 Accounting policies
(a) Basis of preparation
The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), "Accounting and Reporting by Charities" published in 2005 and applicable accounting standards.
(b) 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.
(c) Incoming resources
All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
(d) Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources.
THE MARY ROBERTSON TRUST
Notes to the financial statements Year ended 5 April 2023
Page 8
| 2 Charity activities - donations and grants During the year the Trustees made the following donations and grants: Addington Fund Ashfield Home Safety Project Asthma & Lung UK Bid Services Beaumond House Hospice Blind Veterans UK British Lung Foundation Canine Partners Childrens Cancer & Leukaemia Group Children Today Cruse Bereavement Support Criminon UK DRMS Emmanuel House Epilepsy Action Framework Housing Association Freedom Foundation Friends of the Elderly Guide Dogs Good Companions Harborough District Children's and Young People's Charity Home Start Hope Voventry Improving Lives Kala Niketan Hindi School Leicester Childrens Holidays Leaf Life Education Macular Society Make Them Smile Motor Neurone Disease Association Myaware NARA - Breathing Charity National Childrens Orchestra Nottinghamshire Hospice Nottinghamshire Independent Domestic Abuse Services Notts County Foundation Open Homes Pipal Tree Reach Royal Forestry Society Royal Voluntary Service Safe Families For Children Salvation Army Sub total carried forward |
2023 £ - 2,000 1,000 - 3,000 - - 3,000 - 2,063 2,000 - 3,000 3,000 1,000 3,000 3,000 - 2,000 2,300 - 2,000 1,000 2,000 - 3,000 2,000 2,000 1,000 2,000 1,000 1,000 - 3,000 3,000 - - 2,000 - 4,000 - 1,000 - 3,000 63,363 |
2022 £ 3,000 2,000 - 2,000 - 2,000 2,000 3,000 1,500 - - 3,000 - 3,000 1,000 3,000 - 2,000 2,000 - 2,000 2,000 - - 3,000 3,000 - - 1,000 - - - 1,000 3,000 3,000 3,000 3,000 2,000 3,000 4,000 1,000 - 3,000 3,000 69,500 |
||
|---|---|---|---|---|
Notes to the financial statements continued…… Year ended 5 April 2023
Page 9
THE MARY ROBERTSON TRUST
| 2 Charity activities - donations and grants continued Sub total brought forward Nepal School Sane Sense Southwell Mothers Union Susmita Pharmacy - annual college fee for pharmacy course. Teenage Cancer Trust The Childrens Trust The Renewal Trust The Stroke Association The Friary Think Children Treetops Hospice Walking with the Wounded We Are Here Wollaton Park Rotary Club World Literacy Foundation Worth Foundation Willow Windmill Community Gardens Winstons Wish 3 Investments Cost/book value of Investments as at 5 April 2022 Add: Cost/book value of investments bought 1,010,745.00 Less: Cost/book value of investments sold 716,246.00 - Cost/book value of investments as at 5 April 2023 Add cash held within the investment portfolio 113,638.00 Total Market value of investment as at 5 April 2023 2,941,902.00 Add cash held within the investment portfolio Total Unrealised (depreciation)/appreciation in value |
2023 £ 63,363 650 1,250 2,000 3,000 - 2,000 - 2,000 2,000 2,000 3,000 3,000 - 2,000 1,500 3,000 1,000 2,000 - 1,000 94,763 2023 £ 2,452,080 1,010,745 (716,246) 2,746,579 113,638 2,860,217 2,941,902 113,638 3,055,540 195,323 |
2022 £ 69,500 6,000 - 2,000 3,000 4,400 2,000 3,000 - - 2,000 3,000 - 3,000 2,000 - - - 2,000 2,000 1,000 104,900 2022 £ 2,414,070 414,977 (376,967) 2,452,080 153,854 2,605,934 3,051,518 153,854 3,205,372 599,438 |
|---|---|---|
THE MARY ROBERTSON TRUST
----- Start of picture text -----
Notes to the financial statements continued……
Year ended 5 April 2023 Page 10
4 Accrued charges 2023 2022
£ £
Accountancy charges 1,200 1,000
5 Realised funds 2023 2022
£ £
Balance as at 5 April 2022 2,627,380 2,591,713
Realised gains/(losses) 269,966 269,966 70,808
2,897,346 2,662,521
Less deficit for the year (page 5) (13,168) (35,141)
Balance as at 5 April 2023 2,884,178 2,627,380
----- End of picture text -----
6 Trust administration
The Trust is managed by the trustees, none of whom received any remuneration or expenses for their services over the year.