2023-04-05-accounts - C A Rookes Charitable Trust

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C. A. Rookes Charitable Trust

Charity No. 512437

Trustees' Report and Unaudited Accounts

05 April 2023

C. A. Rookes Charitable Trust Contents

	Pages
Trustees' Annual Report	2 to 3
Independent Examiner's Report	4
Statement of Financial Activities	5
Balance Sheet	6 to 13
Statement of Cash flows	14
Detailed Statement of Financial Activities	15 to 16

Page 1

C. A. Rookes Charitable Trust Trustees Annual Report

The trustees present their report with the unaudited financial statements of the charity for the year ended 5 April 2023.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 512437

Principal Office

The Old School Tiddington Stratford on Avon Warwickshire CV37 7AW

Trustees

The following trustees served during the year:

C.R. Ironmonger C. Ironmonger.

Accountants

Peter Hannaford Accountancy Services Ltd 1556 Stratford Road Hall Green Birmingham B28 9HA

Bankers

Handelsbanken Myton House 40 Holly Walk Leamington Spa CV32 4HY

Investment Advisors

Hathaway Investment Management Ltd Grosvenor House 14 Bennets Hill Birmingham B2 5RS

OBJECTIVES AND ACTIVITIES

The objectives of the charity are set out in its governing document created by a settlement of the Will of Christopher Albert Rookes who died on 30 July 1980 The Trust is to apply the income for general charitable purposes wholly or mainly for the inhabitants of the County of Warwickshire and without obligation but with the wish that so far as may be practical may be applied in the promotion of the welfare of the elderly in the Old Borough of Stratford upon Avon and the Trustees may apply capital or incomes for a charitable purpose of any charity for the time being in existence.

Page 2

C. A. Rookes Charitable Trust Trustees Annual Report

ACHIEVEMENTS AND PERFORMANCE

During the year the charity made grants totalling £41,550 to 39 individual charitable organisations compared with £41,750 to 38 organisations in the previous year.

FINANCIAL REVIEW

During the year Trusts Total Assets decreased by £3,860 from £2,638,270 in 2022 to £2,634,410 in 2023. The decreaseis is partiy attributable to a decrease of £48,439 in the Quoted Investments which was compensated by an increase in bank balances of £47,079.

Increases in bank balances will enable the Trustees to maintain their ability to provide future grants and pursue investment opportunities.

PLANS FOR FUTURE PERIODS

The Trustees continue to seek suitable properties both commercial and residential to invest surplus funds. Their objectives being the diversification of investments capable of generating stable and sustainable future incomes whilst also retaining their capital value.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The management of the charity is the responsibility of two trustees who have considerable technical and practical skills and experience.

Trustees are recruited to fill any vacancies and their appointment is based on ability and achievement.

No remuneration is paid to the Trustees Their work is unpaid and undertaken on a purely voluntary basis.

The Trustees meet on a regular basis throughout the year to discuss the charities affairs and review requests for financial assistance

Statement of trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the charity's trustees

C. Ironmonger. Trustee 28 July 2023

Page 3

C. A. Rookes Charitable Trust Independent Examiners Report

Independent Examiner's Report to the trustees of C. A. Rookes Charitable Trust

I report to the trustees on my examination of the financial statements of C. A. Rookes Charitable Trust for the year ended 5 April 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011('the Act'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the 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 can 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:

the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of the financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached.

Peter J Hannaford Peter Hannaford Accountancy Services Ltd 1556 Stratford Road Hall Green Birmingham

B28 9HA 28 July 2023

Page 4

C. A. Rookes Charitable Trust Statement of Financial Activities

for the year ended 5 April 2023

Unrestricted funds	Total funds	Total funds
2023	2023	2022
£	£	£

41,552	41,552	36,167
66,808	66,808	55,017
(46,524)	(46,524)	108,978
61,836	61,836	200,162

21,908	21,908	24,789
41,550	41,550	41,750
2,238	2,238	2,958
65,696	65,696	69,497
-	-	-
(3,860)	(3,860)	130,665
-	-	-
(3,860)	(3,860)	130,665

(3,860)	(3,860)	130,665

2,638,270	2,638,270	2,507,605
2,634,410	2,634,410	2,638,270

Page 5

C. A. Rookes Charitable Trust Balance Sheet

at 5 April 2023

Charity No. 512437 Fixed assets Investments 11 Current assets Cash at bank and in hand Creditors:Amount falling due within one year 12 Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 13 Unrestricted funds 13 General funds Reserves 13 Total funds Approved by the trustees on 28 July 2023	2023 £ 1,809,649 1,809,649 827,261 827,261 (2,500) 824,761 2,634,410 2,634,410 2,634,410 2,634,410 2,634,410 2,634,410	2022 £ 1,858,088
		1,858,088 780,182
		780,182 -
		780,182 2,638,270
		2,638,270
		2,638,270
		2,638,270
		2,638,270
		2,638,270

And signed on their behalf by:

C. Ironmonger. Trustee 28 July 2023

Page 6

C. A. Rookes Charitable Trust Notes to the Accounts

for the year ended 5 April 2023

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with Where income has related expenditure the income and related expenditure is related expenditure reported gross in the SoFA.
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 7

C. A. Rookes Charitable Trust Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from tax on its charitable activities.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity 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 the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 8

C. A. Rookes Charitable Trust Notes to the Accounts

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.

Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 9

C. A. Rookes Charitable Trust

Notes to the Accounts

2 Statement of Financial Activities - prior year

2 Statement of Financial Activities - prior year
Income and endowments from: Donations and legacies Investments Other Total Expenditure on: Raising funds Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies Gift Aid Stratford DCL	Unrestricted £ 41,552 41,552	Unrestricted funds 2022 £ 36,167 55,017 108,978 200,162 24,789 41,750 2,958 69,497 130,665 130,665 130,665 2,507,605 2,638,270 Total 2023 £ 41,552 41,552	Total funds 2022 £ 36,167 55,017 108,978
			200,162 24,789 41,750 2,958
			69,497
			130,665
			130,665
			130,665 2,507,605
			2,638,270
			Total 2022 £ 36,167
			36,167

Donated goods, facilities and services received
Gift Aid from Stratford DCL		Total 2023 £ 41,551 41,551	Total 2022 £ 36,166
			36,166

Page 10

C. A. Rookes Charitable Trust Notes to the Accounts

4 Income from investments

Unrestricted £ 52,726 10,964 3,118 66,808 Unrestricted £ (46,524) (46,524)	Total 2023 £ 52,726 10,964 3,118 66,808 Total 2023 £ (46,524) (46,524)	Total 2022 £ 44,517 10,500 -
		55,017
		Total 2022 £ 108,978
		108,978

Unrestricted £ 21,908 21,908 Unrestricted £ 41,550 41,550	Total 2023 £ 21,908 21,908 Total 2023 £ 41,550 41,550	Total 2022 £ 24,789
		24,789
		Total 2022 £ 41,750
		41,750

Page 11

C. A. Rookes Charitable Trust Notes to the Accounts

8 Other expenditure

Legal and professional costs 9 Net (expenditure)/income before transfers This is stated after charging: Independent Examiner's fee 10 Staff costs No employee received emoluments in excess of £60,000. 11 Investments Cost or revaluation At 6 April 2022 Additions Disposals At 5 April 2023 Net book values At 5 April 2023 At 5 April 2022 12 Creditors: amounts falling due within one year Accruals 13 Movement in funds At 6 April 2022 Restricted funds: Unrestricted funds: General funds 2,638,270 Total funds 2,638,270	Unrestricted £ 2,238 2,238 2023 £ 2,160 Other investments - Listed £ 1,341,753 127,182 (175,621) 1,293,314 1,293,314 1,341,753 2023 £	Total 2023 £ 2,238 2,238 Other investments - Unlisted £ 516,335 - - 516,335 516,335 516,335	Total 2022 £ 2,958
			2,958
			2022 £ 2,880 Total £ 1,858,088 127,182 (175,621)
			1,809,649
			1,809,649
			1,858,088
			2022 £
	2,500		-
At 6 April 2022 2,638,270 2,638,270	2,500 Incoming resources (including other gains/losses) £ 61,836 61,836	Resources expended £ (65,696) (65,696)	-
			At 5 April 2023 £ 2,634,410
			2,634,410

Page 12

C. A. Rookes Charitable Trust Notes to the Accounts

14 Analysis of net assets between funds

14 Analysis of net assets between funds
Investments Net current assets 15 Reconciliation of net debt Cash and cash equivalents Net debt	Unrestricted funds £	Restricted funds £	Total £
	1,793,314	16,335	1,809,649
	824,761 2,618,075 At 6 April 2022 £	- 16,335 Cash flows £	824,761
			2,634,410
			At 5 April 2023 £
	780,182	47,079	827,261
	780,182 780,182	47,079 47,079	827,261
			827,261

Page 13

C. A. Rookes Charitable Trust Statement of Cash flows for the year ended 5 April 2023

Cash flows from operating activities Net (expenditure)/income per Statement of Financial Activities Adjustments for: Dividends, interest and rents from investments Increase in trade and other payables Net cash used in operating activities Cash flows from investing activities Proceeds from sale of investments Payments for investments Dividends, interest and rents from investments Net cash from investing activities Net cash from financing activities Net increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year	2023 £ (3,860) (20,284) 2,500 (21,644) 175,621 (127,182) 20,284 68,723 - 47,079 780,182 827,261	2022 £ 130,665 (163,995) -
		(33,330)
		-
		- 163,995
		163,995

		-

		130,665
		677,340
		808,005

Components of cash and cash equivalents
Cash and bank balances	827,261	780,182

	827,261	780,182

Page 14

C. A. Rookes Charitable Trust Detailed Statement of Financial Activities

for the year ended 5 April 2023

Income and endowments from: Donations and legacies Gift Aid Stratford on Avon Development Co.Ltd Investments Dividends - Quoted Invst Interest Received from Stratford on Avon Development Co Ltd Interest Received from Handelsbanken Other Profit/(Loss) on disposal of Quoted Investments Total income and endowments Expenditure on: Investment management costs Hathaways Portfolio Management Fees Total of expenditure on raising funds Charitable activities Charitable Grants Total of expenditure on charitable activities Legal and professional costs Accountancy and bookkeeping Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net (expenditure)/income	Unrestricted funds 2023 £ 41,552 41,552 52,726 10,964 3,118 66,808 (46,524) (46,524) 61,836 21,908 21,908 21,908 41,550 41,550 41,550 2,160 78 2,238 2,238 65,696 - (3,860)	Total funds 2023 £ 41,552 41,552 52,726 10,964 3,118 66,808 (46,524) (46,524) 61,836 21,908 21,908 21,908 41,550 41,550 41,550 2,160 78 2,238 2,238 65,696 - (3,860)	Total funds 2022 £ 36,167
			36,167
			44,517 10,500 -
			55,017
			108,978
			108,978
			200,162 24,789
			24,789
			24,789 41,750
			41,750
			41,750 2,880 78
			2,958

			2,958
			69,497 -
			130,665

Page 15

C. A. Rookes Charitable Trust Detailed Statement of Financial Activities

C. A. Rookes Charitable Trust Detailed Statement of Financial Activities
Net (expenditure)/income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	(3,860) - (3,860) 2,638,270 2,634,410	(3,860) - (3,860) 2,638,270 2,634,410	130,665 -
			130,665
			2,507,605
			2,638,270

Page 16