THE MARY ROBERTSON TRUST
Registered charity number: 327900
Annual Report and Financial Statements Year ended 5 April 2024
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 2024
| 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 2024
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 2024
Page 3
The Trustees present their report and financial statements for the year ended 5 April 2024. 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 2023/24
The Trust has made a total of 50 donations and grants over the year totalling £112,000.
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.
Accountants' report Year ended 5 April 2024
Page 4
THE MARY ROBERTSON TRUST
We have prepared the financial statements for the year ended 5 April 2024 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
16 December 2024
Trustax Services Limited V15 Howitt Building Lenton Boulevard Nottingham NG7 2BY
Page 5
THE MARY ROBERTSON TRUST
Statement of financial activities Year ended 5 April 2024
| Notes INCOME AND EXPENDITURE Incoming resources from generated funds: Investment income 1 Listed security dividends #### 2 Other dividends 7,882 3 Listed security interest #### 5 Foreign dividends #### 6 Foreign interest 181.00 4,675 Total incoming resources Resources expended Cost of generating funds Management fees #### Charity activities Donations and grants 2 Governance costs Accountancy charges 1,400 Bank charges 44 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 | £ 47,413 7,882 30,789 24,089 4,675 114,848 133,880 (19,032) 19,304 272 funds 2024 |
Unrestricted | £ 54,441 10,354 10,001 25,071 3,619 103,486 116,654 (13,168) 269,966 256,798 funds 2023 |
|
|---|---|---|---|---|---|---|
| £ a b c d e 20,436 112,000 1,400 44 |
£ 20,669 94,763 1,200 22 |
THE MARY ROBERTSON TRUST
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Balance sheet
As at 5 April 2024 Page 6
2024 2023
Notes £ £ £ £
Fixed assets investments
Listed securities at book value 3 2,865,434 2,860,217
Current assets
Cash at bank 20,315.50 20,316 25,161
Creditors: amounts falling due within
one year
Accrued charges 4 1,300 1,200
Net current assets 19,016 23,961
Net assets 2,884,450 2,884,178
- -
Funds
Unrestricted funds 5 2,884,450 2,884,178
Total funds 2,884,450 2,884,178
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The financial statements were approved and authorised for issue by the trustees and signed on their behalf by:
C O'Brien Honorary Treasurer 16 December 2024
Notes to the financial statements
Page 7
THE MARY ROBERTSON TRUST
Year ended 5 April 2024
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 2024
Page 8
| 2 Charity activities - donations and grants During the year the Trustees made the following donations and grants: Ashfield Home Safety Project Asthma & Lung UK Bid Services Beaumond House Hospice Blind Veterans UK Canine Partners Casy Children Today Cruse Bereavement Support Criminon UK DRMS Dementia UK Ducklings Charity Emmanuel House Epilepsy Action Framework Housing Association Freedom Foundation Friends of the Elderly Guide Dogs Good Companions HCYC Headway Home Start (South Leic'shire) Home Start (Nottingham) Home Start Horizons Hope Voventry Improving Lives Independent Age Laligurash School Lennox Childrens Cancer Fund Lincs & Notts Air Ambulance Leicester Childrens Holidays Leaf Life Education Macular Society Make Them Smile Motor Neurone Disease Association Myaware National Childrens Orchestra Nottinghamshire Hospice Newlife Nepal School Notts County Foundation Nottingham Playhouse Notts Army Cadet Force Notts Club for Young People Notts Wildlife Trust Open Homes Sub total carried forward |
2024 £ 2,000 - 2,000 - 2,000 2,000 2,000 - 2,000 2,000 - 3,000 2,000 3,000 - 3,000 - 3,000 4,000 - 2,000 2,000 2,000 3,000 2,000 - 3,000 2,000 3,000 2,000 2,000 - - - 1,000 - 2,000 - - 3,000 3,000 4,500 2,000 3,000 3,000 2,000 2,000 2,000 82,500 |
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 - 650 - - - - - 2,000 56,013 |
||
|---|---|---|---|---|
Page 9
THE MARY ROBERTSON TRUST
Notes to the financial statements continued…… Year ended 5 April 2024
| 2 Charity activities - donations and grants continued Sub total brought forward Pipal Tree Reach Robin Hood Disabled Riders Royal Voluntary Service Salvation Army Sane Sense Southwell Mothers Union Sound Café Leicester Speech & Language UK St Johns Ambulance 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 WARA Winstons Wish 3 Investments Cost/book value of Investments as at 5 April 2023 Add: Cost/book value of investments bought 442,363.00 Less: Cost/book value of investments sold 422,304.00 - Cost/book value of investments as at 5 April 2024 Add cash held within the investment portfolio 98,795.79 Total Market value of investment as at 5 April 2024 3,138,180.00 Add cash held within the investment portfolio Total Unrealised (depreciation)/appreciation in value |
2024 £ 82,500 2,000 3,000 1,000 - 3,000 - 2,000 - 1,500 2,000 1,000 2,000 2,000 - 2,000 2,000 - 2,000 2,000 - - - - - 1,000 1,000 112,000 2024 £ 2,746,579 442,363 (422,304) 2,766,638 98,796 2,865,434 3,138,180 98,796 3,236,976 371,542 |
2023 £ 56,013 - 4,000 - 1,000 3,000 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 |
|---|---|---|
THE MARY ROBERTSON TRUST
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Notes to the financial statements continued…
Year ended 5 April 2024 Page 10
4 Accrued charges 2024 2023
£ £
Accountancy charges 1,300 1,200
5 Realised funds 2024 2023
£ £
Balance as at 5 April 2023 2,884,178 2,627,380
Realised gains/(losses) 19,304 19,304 269,966
2,903,482 2,897,346
Less deficit for the year (page 5) (19,032) (13,168)
Balance as at 5 April 2024 2,884,450 2,884,178
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6 Trust administration
The Trust is managed by the trustees, none of whom received any remuneration or expenses for their services over the year.