CHARITY NO.. 327972 THE RICHARD KIRKMAN TRUST REPORT OF THE TRUSTEES FINANCIAL STATEIVIENTS For the Year Ended 5th April 2024
THE RICHARD I<IRKMAN TRUST Contents Page Legal and administrative infornlatlon Report of the trustees Report of the independent exa]niner Statement of fmancial activities Balance sheet Notes forming part of the financial statements 8-10 Detailed statement of financlAI Actlvltles 11 Page.. I
THE RICHARD KIRKMAN TRUST Le al and administrative information TRUSTEES: D A Hobbs A.C.A. N J Lapage A.C.A. Mr8 R C Owers CHARITY NO: 327972 CIL41IITY OFFICE: Ashton House 12 The Precinct Winchester Road Chandlers Ford Eastleigh S053 2GB INDEPENDENT EXAMINER: Christopher David 08mond F.C.C.A. Stone Osmond Limited 75 Bournemouth Road Chdndlers Ford Eastleigh S053 3AP BANKERS: Lloyds Bank Pl Above Bar Street Sout1llptOll S014 7DT SOLIcrroRS: Paris Smith LLP Number I London Road Southampton S015 2AE INVESTMENT MANAGERS: Rathbones Fiennes House 32 Southgate Street Winchester S023 9EH Rathbones I Curzon Street London WIJ 5FB Page". 2
THE RICHARD KIRKMAN TRUST ort of the trustees for the ear ended 5th A ril 2024 The trustees present their report and fnci&l statement8 of the charity for the ycar cnded 5th April 2024. The finallcial statements have been Prepared in accordanc¢ with the acGounting policies set out on page 8 and ¢omply with the oharity's trust deed and applicable law. Constitution, objectives &nd actlvltles for the public benefit Th¢ Richard Kirkrnan Tntst 19 constituted under a trust d¢¢d dated 4th July 1988, is a registered charity, no 327972. The trnst deed d¢fin¢s tho objeGts of the Tru8t as beillg "to apply the irtcome and all or Buch part or parts of the capitsl for or towards 8uGh Cbaritable pury>o8e8 and to make donations to Such charitable institution or institutions at such txtne or times and in such DwJn¢r as the trnstee8 may in their ab801ute discretion tbink fif,. The trustees confirn] they have complied with the duty under Section 4 of the 2011 Charities Act having due regwd to the guidance published by the Charity Commission, includittg public benefit guidance. Organisation The trustees named on page 2 have served during the year and since the year end. The appointment of tnleeS is governed by the regulations of the charity. FinanclAI revleiv Grants totalling £106,500 were made during the year from avdable income, cornpared with £100,250 in the previous yeaT, The financial position of the trust, reviewed by the trnstees on a regular basis, remains satisfactory, Futllre plADS and goillg concern statsment As the Charity'8 income is derived solely from fimds invested and there are no fimdraising aotivities the ttee8 are aware that in¢ollLe may fall, in which oa8¢ grants would lleed to be reduced accordingly. The Gharity will, lwever, continue to make grant8 for the benefit of the public. Investment policy The policy of the trustees is to invest to provide a b&lanced rethrn from income and capital at tnedium ri8k. No social, ettvironmental or ethical considerations are taken into account. Reserves policy The trnstees policy on reserves is tbat they regard the income fid of £150,054 as avaÉl&ble for distribution in whole or in part and the capital fulld of £3,373,495 as distributable only in exceptional circumstances. Risk nllageMellt The trnstees have examined the potential risks which the charity faces and confjrni tlwt mea8ur¢s to manage these risk5 have beell Put in place. Pag¢: 3
THE RICHARD KIRKMAN TRUST ort of the trustees for the ear ended 5th A ril 2024 continued) Trustees, respollslbilities Tbe trustees are required under the Charities Act 2011 to prepar8 financial statements for each financial year which give a trne and fair view of the ch&rity's financial activitie8 diIllg ttLe year and of its financial position at th¢ end of th¢ ye. In preparing fmancial statements giving a true fair view the trustees should follDW be8t practice and.. (a) select 8Uitable accounting policies Emd &pply theln con518tently,' (b) observe the mothod8 an(I prinGiple8 in the Cbaritie8 SORP; (c} mako judgements and 88timates that are reasonable and pwdenl. (d) state whether appliGable accounting stanaards and statements oFrecommended practic¢ have been followed, subject to any departures disclosed and explaingd in the financial 6t8tornent8' (¢} prware the finanoial statements on a going concern basis Unless it is inappropriate to presume th&t the Charity will continue in opcratioll. The trustees are respon8ible for keeping accounting records Mthich disGlose with reasonable accuracy the financial p051tion of the charity and which enable them to a8cert&itt the flnancial position of the Gharity and which enable them to ensure that thg financial statements comply v/ith appltcabl¢ laws &nd regulations. They are al80 responsibl¢ for 8afeguarding the as8et5 of tho harity and henco for taking reasonable steps for tbe prevention and d¢tectioii of fraud and oth¢r irregularities. Approved by the trustees onJ4Wovetllber 2024 and signed on their behalf.. N J LAPAGE Trustee Page.. 4
THE RICHARD KIRI<MAN TRUST Inde endent examiners, re ort to the Trustees of The Richard Ktrlunan Trust I rcport on the accounts of tbe trnst for the year ended 5th April 2024 whicb are set out on pages 6 to 10. Re8pectlve responslbllltles of trllstees and examiner The Gharity's trnstees are responsible for the preparation of the accounts. The charity's twstees consider that an audit is not required this year under section 144 of the Charities Act 2011 (the 2011 Act). It is my respon8ibility to: examine tbe accounts under section 145 of the 2001 Act. follow the procedure8 laid down in the general direGtion8 given by the Charity Commission under Seotion 145(5)(b) of the 2011 Act; and to state whether particular matters have eome to my attelltion. BASIS of Independent examlner's report My eXaInation was carried out in dccordance with the general directions given by tbe Charity Commission. An exmiinatioll includes a review ofthe accounting record8 kept by the charity and a comparison of the aGGoullts presented with those reGords, It also includes consideration of any unusual ktems or disclosures in the accounts, and the seeking of eAplallations from you as trnstees ¢on¢erning any surh matters. The proG6dures undertakgn do not provide a11 the evidenGe that would be required ill an audit and, consequently, no opinion 13 given as to whether the acc¢t3 present a 'tue aud faiT view" and the report is limited to those lltters set out in the statement below. Illdepelldellt examiller's statement In collncGtion with my exan]ination, no matter has come to my att¢ntion: wILich gives me reasonable ¢au8e to believe that, in any material re8pecL the requirements.. to Iceep accounting records in accordance with section 130 of the Charities Act 201 I. and to prepare accounts which accord with the accounting records and to Gomply with the aCCting r¢quirem¢nt8 of the Charities Act 201 I bave not been met. or to whic}4 in ny opinion, attention should be drawn ill order to enable a proper understanding of the aGGounts to be reached. Chrlstopher Davld Osmond F.C.C.A, Stone Osmond Limited Aecoulltallts alld Statutory Auditors 75 Bournemoutkn Road Chandlers Ford Eastlelgh S053 3AP Date.. Page: 5
THE RICHARD KIRIOIAN TRUST Statement of Flnancial Activities for the Year Ended 5th A ril 2024 2024 Unrestricted fi ulld8 Illeome 2023 Total Funds Note Capltal TotRI IllcomAng resources Invegthient income 110 060 110 060 113 077 Total incon]ing resourGes 110,060 110,060 113077 Resources expended Costs of generating futtd8 Charitable activiti¢8 14,725) 14,725) ( 14,262) ( 112,280) ( 112,280) 104,813) Total resources expended 14 725) { 112 280) 127 005) 119 075) Net ineomlng resourcesl(re$ource$ expended) ( 14,725) ( 2,220} { 16,945) 5,998) Other recognised losses and galns (Losses)Igain8 on investments 254,571 254,571 ( 291566) Net movemellt In funds 239,846 2,220) 237,626 ( 297,564) Funds brought forward 3,133,649 152,274 3,285,923 3,583,487 li Funds carried fonvard 3,373,495 150,054 3,523,549 3,285,923 Page.. 6
THK RICHARD KIRIthIAN TRUST Balance Sheet as at 5th A ril 2024 2024 2023 Iyotes Flxed assets Investments 3,379,687 3,140,706 Current assets Debtors Cash at bank and on deposit 3,970 149 466 4,918 148 456 153,436 153,374 Current liabilitA¢s Creditors Net current assets 143,862 145,217 io Total net asset8 3,523,549 3,285,923 Funds Unre8trict¢d capital Unrestricted income 3,373,495 150,054 3,133,649 152,274 3,523,549 3,285,923 Approved by the trustee8 on Jl t4 November 2024 alld signed on their behalf.. IY J LAPAGE Trustee Page.. 7
THE RICHARD KIRKMAN TRUST Notes formln art of the fanCIal st¥dtements for the ear ended 5th A ril 2024 Summary of sigllificant Accounting policies (Yd) General inforAt[oll and bAsls of preparatlon The Richard Kirknian Trust 19 all uniticorporated charity in England. The addr¢58 of the registered offL¢e 18 given in the charity infornLatioll on page 2 of these financial statements. The nature of the charity's operation8 and princip&l activities are given oll page 3. The ¢Ilty constitutes a public benefit entity as defined by FRS 102. The financial 8tatenents have been prepared in a¢¢ordance with Accounting and Reporting by Chuities: Statement of Recotnmended Practice applicablt to charities preparing their accounts in accordance with the Finmoial Reporting Standard appli¢abLe in tbe UK and Republic of Ireland (FRS 102) (effective l January 2019) - (Charities SORP (FRS 102)), the Fiftallcial Rworting Startdard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The cbarity has applied Update Bulletin l as published on 2nd Febnwy 2016 ana therefore doe8 not in¢Kud¢ cash tlow statement in these financial statement8, The finallcial statements are prepared on a going concern basis under the historical cost Conventio modified to include certain items at fair value. The finallcial staten]ents are presented in sterling which is the functional Guttency of tbe ¢barity and rounded to the nearest £1, The significant accounting policies applied in the preparation of these financial slatements are set out below. These poli¢ie8 have been Consistently applied to all years presented unless othenvise stated, (b) Investment Income Illveslmellt income is accounted for ill thB period in which the clwity 15 entided to receipt, (c) Resollrces expended Expendittwe is included on an aGGrua18 b&si8. Raising ftmds comprise those costs directly attributable to managing the investnA¢nt portfolio and raising vesttnent income. Grants are recognt8ed as an expendcd resource at the date of payment. Governance cost8 comprise G08ts for the runnillg of the ¢harity itsolf as an organisation and illoludes irrecoverable VAT. (d) Flxed asset investments Investsnents are included at olosing Lllid-market value at the balance sheet date. Any gain or108s on revaluation is taken to the Stateent of Financial Activities, (e) Funds Unrestricted fLmd5 are those funds the trustees can use for any purp08e in furtherance of tbe charitable objects. Unrestricted fLmds include the Gapital fund which the trnstees, at their discretion, intend to invest. (O Debtors Trade and other debtors aT¢ recognised at the settlement amount due after any trad¢ discount offered. Prepayments &Te valued at the amount prepaid after taking account of any trade disoounts due. (g) Cash at bAnk Cash at bank comprises funds held by the charity's bank¢r8 and inve8tment rnanagers. (h) CredAtors and provL510ll5 Crediti)rs and provisions are recognised wbere the clwity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle tbe obligation can be measured or estimated reliably. Creditors and provisions ar¢ normally reCols¢d at their settlement amount after allowing for any trade di5coiint8 due. (i) Financial instruments The tmst only has financial assets and financial liabilities of a kind that qualify as basic fmancial instruTnents. Basic financial instruments are initially r¢cognised at transaction value and subsequently measured at their seltlenlent value with the exGeptioll of bank loans which are 8ubsequently tneasured at the carrying value plus a¢¢rued inter¢8t les8 repayments. The financing clrge to expendithre is at a constant rate calculated using the effective illt¢re8t r(Lethod. Page: S
THE RICHARD KIRKMAN TRUST Notes formin art of the financlal stalements for the ear ended 5th A ril 2024 2024 2023 Investment Income Dividends- UK equities Dividends- overseas equitie3 Inter¢st- fixed interest securities Interest- overseas fixed interest 8eGwitie8 82,991 14,136 9,232 92,890 17,573 1,741 873 110060 113,077 Costs of generating funds Investment man8gement fee8 Charitable &ctivities Grants ¢xceoding £1,000.. Board in the City British Statnmering Association Comrnunity Playlink Downton 4 Family Enham Trnst Hap&hIre & IOW Air Ambulance Hope Street Macmillan Cancer Support Manvell Wildlife Minstead Trnst Mountbattell H&p9h1re Myositis sllpp No Limits Northam CommunAty Link Parklife Community Interest Co. QE2 Activity Centre R Community CIC Rainbow Centre Rose Road Asso¢iation Rotary Club of Southampton Magna Charitable Trnst Society of St James Somerville Heart Foundation Southafftpton & District Samaritans Southampton Sunday Luncb Project Stonewater Housing (writeback) Streetscene Addiction The 13th sout1Mptoll Sea Scoul Group The Big Difference The Holleypot Charity The New Dawn Child Contact Centre Wessex Heartbeat We&8ex Medical Trnst Winche8ter & District Young Carers Yellow Door (Domestic Abuse Victims) Yellow Dcpor (was Southampton Rape Crisis) Grants to institutionslindividuals of £1,000 or less 19 (20) Governancc (ttote 5) 2,500 2,000 2,000 1,500 2,500 3,000 1,500 2,000 5,000 5,000 4,000 2,000 2,500 2,000 3,000 2,000 2,500 2,000 1,500 2,000 2,500 1,500 5,000 7,000 2,000 2,000 2,500 3,000 2,000 2,500 2,000 2,000 2,000 1,500 5,000 7,000 2,000 1,500 2,000 1,500 2,000) 8,000 3,000 4,000 4,000 2,000 5,000 2,000 2,000 2,000 2,000 15,750 2,000 1,500 8,000 2,000 4.000 4,000 5.000 3.000 2,000 2,000 2,000 16,500 112,280 104,813 Page.. 9
THE RICHARD KIRKMAN TRUST Notes formin art of the financial statements for the ear ended 5th A ril 2024 Goverllance 2024 2023 dependettt examiners fee Accountanoy & adnLtnistratio VAT 1,485 3,420 875 1.485 2,467 611 5,780 4,563 The charity bad no employees during the Ye (2023: Nil). Trustecs, remuneration The trustees received no remuneration nor roceived any other benefit8 (2023.. £Nil) and no expense8 were reimbur8ed (2023.. £Nil) during the year. Mr N J Lapage was paid £500 (2023: £500) for the provision of bookkeeping services. Investments 2024 2023 Mark¢t value at 6th April Addition8 at cost or introduced Proceeds from disposals Gain81{Ios8es) in the year 3,140,706 3,371,584 631,431 336,120 647,021) ( 275,432) 254,571 291566) Market value at 5th April 3 379 687 3,140,706 Historical rost at 5th April 2 106331 1,936,443 Debtors Prepayments and accrned income 4,918 Creditors Accruals 9,574 8,157 io Analysi8 of total net Assets by fund Unrestricted capital Unregtrlcted Income Total Funds Fixed gAssets Net current assets 3,379,687 3,379,687 143 862 150 054 3,373,495 150,054 3,523,549 Outline summary of fund movements Fund bal¢5 brought forward Incoming resouTces Outgoing resources Gains and108ses 3,133,649 152,274 110,060 112,280) ( 3,285,923 110,060 127.005) 254.571 14,725) 254,571 3,373,495 150,054 3 523 549 12. Related Parties: TIe were llo related party transactions ill the ye. Controlling entlty.. The charity is controlled by the trusts¢8. Page.. 10