REGISTERED CHARITY NUMBER: 328650
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2021
FOR
THE C PAUL THACKRAY GENERAL CHARITABLE TRUST
THE C PAUL THACKRAY GENERAL CHARITABLE TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021
| Page | |
|---|---|
| Report of the Trustees | 1 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 14 |
| Detailed Statement of Financial Activities | 15 to 16 |
THE C PAUL THACKRAY GENERAL CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2021
The trustees present their report with the financial statements of the charity for the year ended 5 April 2021. The trustees have adopted the provisions of 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 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES Objectives and aims
The Objects of the Charity allow the trustees to make grants to any cause which is wholly charitable. The trustees have set out their areas of interest in a Grant Making Policy Statement, details of which are summarised below:
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The Charity supports UK registered charities working in the following fields:
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1.1 enabling the disabled.
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1.2 rehabilitation of ex-offenders.
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1.3 supporting patients and their families facing serious illness.
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1.4 assistance in overcoming addiction.
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1.5 helping victims of domestic violence.
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1.6 supporting Christian family values.
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1.7 caring for the environment.
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Preference is shown to charities located in Yorkshire particularly within a ten mile radius of Harrogate.
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The trust also supports UK registered charities working in developing countries in the following fields:
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3.1 Providing technical and medical equipment suitable for those countries.
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3.2 Providing teams from the UK to undertake basic surgery.
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3.3 Providing homes and education for 'street' children.
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The Charity provides continuing support for the C P Thackray Heritage Foundation which in turn lists out of its main interests the acquisition of items for the Thackray Medical Museum in Leeds.
This statement is not intended to restrict the trustees' discretion and will be reviewed periodically.
The trustees rarely consider unsolicited applications for funding.
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the trust's aims and objectives and in planning future activities and setting the grant making policy for the year.
Significant activities
The trustees have continued to act in accordance with the objects of the charity. The trust conducted no fund raising activities but continued to receive investment income and to act as a grant making body. Charitable grants for the year totalled £46,257 (2020: £33,940).
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THE C PAUL THACKRAY GENERAL CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2021
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Total income for the year under review amounted to £27,521 (2020: £35,746) whilst total expenditure amounted to £58,146 (2020: £45,832).
As a result, net outgoing resources for the year amounted to £30,625 (2020: £10,356). Other recognised gains and losses - representing both realised and unrealised gains and losses on the investment portfolio - however increased reserves by £214,562 (2020: decreased reserves by losses of £183,472).
In consequence the overall net movement in funds amounted to an increase of £183,937 (2020: decrease of £193,828), and this has been added to funds brought forward resulting in funds to carry forward of £1,066,716 at 5 April 2021.
The market value of the charity's investments amounted to £1,026,337 at 5 April 2021 (2020: £821,337).
FINANCIAL REVIEW
Investment management
The charity's investment portfolio is managed on a discretionary basis by J M Finn & Co.
The investments are managed so as to obtain a balance between income and capital growth. The investments comprise a balanced portfolio of equities, with a lower risk profile, fixed interest investments and cash.
There are no specific restrictions other than the investments should be suitable for trusts.
Trust reserves
The trustees consider that reserves remain at a level where the charity can meet its objectives effectively.
Impact of COVID-19
The charity's financial position at the previous balance sheet date was significantly impacted by Covid-19, with the investment portfolio reflecting the global market turbulence in reaction to the pandemic.
As noted above, the charity's investments and reserves have recovered strongly in this financial period. The trustees continue to monitor the ongoing impact of the Covid-19 situation, but do not consider it to represent a material threat to the going concern status of the charity.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The unincorporated charity is controlled by its governing document, a trust deed, dated 12 April 1990 made between the settlor, Charles Paul Thackray and the trustees.
The settlement was established to make funds available for charitable purposes.
The trustees must use the income and may use the capital of the settlement in promoting the objects. There is power to accumulate income for the first 21 years, the accumulation period ended on 12 April 2011.
Recruitment, appointment and training of new trustees
The power of appointing new trustees is vested in the settlor and, after the death of the settlor, in such person or persons as the settlor shall appoint. New trustees will be given appropriate informal training by the board of trustees.
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THE C PAUL THACKRAY GENERAL CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure
The trustees meet on an annual basis to consider applications for grants in accordance with the trust's grant making policy. No staff (paid or voluntary) are employed.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
328650
Principal address
Wrigleys Solicitors LLP 19 Cookridge Street Leeds West Yorkshire LS2 3AG
Trustees
C P Thackray I D Watson A J Millett
Solicitors
Wrigleys Solicitors LLP 19 Cookridge Street Leeds LS2 3AG
Investment Managers
J M Finn & Co 4 Coleman Street London EC2R 5TA
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THE C PAUL THACKRAY GENERAL CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2021
REFERENCE AND ADMINISTRATIVE DETAILS Independent examiner
Graham David Atkinson BA FCA Walter Dawson & Son Lawrence House James Nicolson Link Clifton Moor York North Yorkshire YO30 4WG
Accountants
UHY Calvert Smith Chartered Accountants Heritage House Murton Way Osbaldwick York YO19 5UW
Approved by order of the board of trustees on 24 January 2022 and signed on its behalf by:
A J Millett - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE C PAUL THACKRAY GENERAL CHARITABLE TRUST
Independent examiner's report to the trustees of THE C PAUL THACKRAY GENERAL CHARITABLE TRUST
I report to the charity trustees on my examination of the accounts of THE C PAUL THACKRAY GENERAL CHARITABLE TRUST (the Trust) for the year ended 5 April 2021.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the 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.
Graham David Atkinson BA FCA Walter Dawson & Son Lawrence House James Nicolson Link Clifton Moor York North Yorkshire YO30 4WG
Date: 25 January 2022
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THE C PAUL THACKRAY GENERAL CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2021
| Notes INCOME AND ENDOWMENTS FROM Investment income 2 EXPENDITURE ON Raising funds 3 Charitable activities Grants payable and similar charitable activites Governance costs Other 6 Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2021 Unrestricted fund £ 27,521 6,983 46,257 4,428 478 58,146 214,562 183,937 882,779 1,066,716 |
2020 Total funds £ 35,476 7,215 33,940 4,380 297 45,832 (183,472) (193,828) 1,076,607 882,779 |
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The notes form part of these financial statements
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THE C PAUL THACKRAY GENERAL CHARITABLE TRUST
BALANCE SHEET 5 APRIL 2021
| Notes FIXED ASSETS Investments 8 CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS Unrestricted funds TOTAL FUNDS |
2021 Unrestricted fund £ 1,026,337 44,387 (4,008) 40,379 1,066,716 1,066,716 1,066,716 1,066,716 |
2020 Total funds £ 821,337 65,822 (4,380) 61,442 882,779 882,779 882,779 882,779 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 24 January 2022 and were signed on its behalf by:
A J Millett - Trustee
The notes form part of these financial statements
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THE C PAUL THACKRAY GENERAL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance 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 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Statutory information
The C Paul Thackray General Charitable Trust is registered with the Charity Commission in England and Wales under the registration number 328650.
The principal address is 19 Cookridge Street, Leeds, West Yorkshire, LS2 3AG.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Investment income is stated gross of any irrecoverable tax deducted.
Expenditure
Expenditure is accounted for on an accruals basis as a liability is incurred. Expenditure includes VAT which is reported as part of the expenditure to which it relates.
Charitable expenditure comprises grants paid in the year.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Investments
Fixed asset investments in quoted shares, traded bonds and similar investments are stated at fair value, as determined by the fund managers at the reporting date.
JM Finn & Co generally use the mid-market price, as supplied by external information providers, to value the investments within the portfolio; where it is not possible to value the securities on this basis, investments have been valued on a basis considered appropriate, such as last trade or bid price.
continued...
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THE C PAUL THACKRAY GENERAL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2021
1. ACCOUNTING POLICIES - continued
Investments
Investment gains and losses, whether realised or unrealised, are combined and shown under the heading 'Net gains/(losses) on investments' on the Statement of Financial Activities.
Realised gains and losses on investments are calculated as the difference between disposal proceeds and carrying value at the date of disposal. Carrying value is the sum of the market value brought forward at the beginning of the accounting period and the cost of subsequent acquisitions.
Cash held within the investment portfolio, on short term deposit and on income account, is classified under cash at bank on the balance sheet.
Financial instruments
Fixed asset investments are measured at fair value through net income and expenditure on the Statement of Financial Activities.
All other financial assets and liabilities are measured at amortised cost.
2. INVESTMENT INCOME
| Dividends Dividends from unit trusts Income from overseas securities Interest from UK government securities Interest from UK unit trusts |
2021 £ 17,584 2,600 3,628 1,773 1,936 27,521 |
2020 £ 26,465 2,600 2,856 1,517 2,038 |
|---|---|---|
| 35,476 |
continued...
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THE C PAUL THACKRAY GENERAL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2021
| 3. RAISING FUNDS Investment management costs Investment management fees 4. GRANTS PAYABLE Grants payable and similar charitable activities |
2021 £ 6,983 2021 £ **46,257 ** |
2020 £ 7,215 2020 £ 33,940 |
|---|---|---|
continued...
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THE C PAUL THACKRAY GENERAL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2021
4. GRANTS PAYABLE - continued
The total grants paid to institutions during the year was as follows:
| The Paul Thackray Heritage Foundation Breast Cancer Haven Caring for Life Checkpoint Christian Youth Trust Cruse Bereavement Care Dementia Forward Disability Action Yorkshire Dogs for Good Farming Community Network Freedom From Torture (Medical Foundation) Harrogate Homeless Project Headway Hearing Dogs for Deaf People Henshaw's Society Horticap Howard League for Penal Reform MacMillan Cancer Support Martin House Childrens Hospice Mental Health Foundation Mercy Ships NACRO NSPCC Paces Sheffield Police Treatment Centres Royal National Lifeboat Institution Salvation Army Samaritans Sightsavers International St George’s Crypt St Leonard’s Hospice St Michael's Hospice Stroke Association Tearfund Yorkshire Air Ambulance Yorkshire Wildlife Trust |
2021 £ 14,847 - 10,000 500 600 1,000 420 1,000 1,000 500 330 500 750 530 420 - 1,000 1,050 500 500 - 500 500 750 680 1,000 500 500 1,600 1,050 1,050 500 1,000 680 500 **46,257 ** |
2020 £ - 800 10,000 1,000 600 1,000 420 1,000 1,000 500 330 500 750 530 420 600 1,000 1,050 500 500 630 500 500 750 680 1,000 500 500 1,600 1,050 1,050 500 1,000 680 500 33,940 |
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continued...
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THE C PAUL THACKRAY GENERAL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2021
5. SUPPORT COSTS
| 5. | SUPPORT COSTS | ||
|---|---|---|---|
| Governance | |||
| costs | |||
| £ | |||
| Governance costs | 4,428 | ||
| Support costs, included in the above, are as follows: | |||
| 2021 | 2020 | ||
| Governance | Total | ||
| costs | activities | ||
| £ | £ | ||
| Accountancy | 1,290 | 1,260 | |
| Legal & professional fees | 2,400 | 2,400 | |
| Independent examiner's fees | 738 | 720 | |
| 4,428 | 4,380 | ||
| 6. | OTHER | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Irrecoverable tax deducted | 478 | 297 |
continued...
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THE C PAUL THACKRAY GENERAL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2021
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 5 April 2021 nor for the year ended 5 April 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 5 April 2021 nor for the year ended 5 April 2020.
8. FIXED ASSET INVESTMENTS
| MARKET VALUE At 6 April 2020 Additions Disposals Revaluations Realised gains / (losses) At 5 April 2021 NET BOOK VALUE At 5 April 2021 At 5 April 2020 |
Listed investments £ 821,337 52,631 (62,170) 208,046 6,493 1,026,337 1,026,337 821,337 |
|---|---|
The charity's investment portfolio is managed by J M Finn & Co.
The funds of the portfolio are invested in a range of fixed income funds, equities and pooled investment vehicles, based in the UK and overseas.
continued...
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THE C PAUL THACKRAY GENERAL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 5 APRIL 2021
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other creditors | 2021 £ 4,008 |
2020 £ 4,380 |
|---|---|---|
10. RELATED PARTY DISCLOSURES
UHY Calvert Smith LLP, a firm in which A J Millet is a partner, provided professional services to the charity. Fees of £1,290 (2020: £1,260), inclusive of VAT, were payable by the charity for the year. This is charged on a commercial basis
Mr C P Thackray is also a trustee of The Paul Thackray Heritage Foundation (registered charity number 1073180) to which the charity paid grants of £14,847 (2020: £Nil) in the year.
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THE C PAUL THACKRAY GENERAL CHARITABLE TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Investment income | ||
| Dividends | 17,584 | 26,465 |
| Dividends from unit trusts | 2,600 | 2,600 |
| Income from overseas securities | 3,628 | 2,856 |
| Interest from UK government securities | 1,773 | 1,517 |
| Interest from UK unit trusts | 1,936 | 2,038 |
| 27,521 | 35,476 | |
| Total incoming resources | 27,521 | 35,476 |
| EXPENDITURE | ||
| Investment management costs | ||
| Investment management fees | 6,983 | 7,215 |
| Charitable activities | ||
| Grants to institutions | 46,257 | 33,940 |
| Other | ||
| Irrecoverable tax deducted | 478 | 297 |
| Support costs | ||
| Governance costs | ||
| Accountancy | 1,290 | 1,260 |
| Legal & professional fees | 2,400 | 2,400 |
| Independent examiner's fees | 738 | 720 |
| 4,428 | 4,380 | |
| Total resources expended | 58,146 | 45,832 |
| Net expenditure before gains and losses | (30,625) | (10,356) |
| Realised recognised gains and losses | ||
| Carried forward | (30,625) | (10,356) |
This page does not form part of the statutory financial statements
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THE C PAUL THACKRAY GENERAL CHARITABLE TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Realised recognised gains and losses | ||
| Brought forward | (30,625) | (10,356) |
| Realised gains/(losses) on fixed asset | ||
| investments | 6,516 | (137) |
| Net expenditure | **(24,109) ** | (10,493) |
This page does not form part of the statutory financial statements
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