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2022-06-30-accounts

REGISTERED CHARITY NUMBER: 527908

THE SIR RICHARD RAYNES FOUNDATION AND OTHERS (working name: Raynes Trust)

RECEIPTS AND PAYMENTS ACCOUNTS

FOR THE YEAR ENDED

30 JUNE 2022

THE SIR RICHARD RAYNES FOUNDATION AND OTHERS

TRUSTEES REPORT

30 JUNE 2022

Registered Charity No 527908

Honorary Secretary to the Trustees:

G Bett, 127 Sandy Lane, Melton Mowbray, Leicestershire, LE13 0AW

The Sir Richard Raynes Foundation and Others is governed by a scheme dated 13[th] December 2001 issued by The Charity Commission for England and Wales under the power given in the Charities Act 1993 incorporating the charities previously known as The Charities of Sir Richard Raynes (Raynes Trust) and Thomas Hartopp and Others (Melton Local Bequests) and amended by schemes dated 7[th] November 2011 and 18[th] November 2014. The principal address is 127 Sandy Lane, Melton Mowbray, Leicestershire, LE13 0AW.

Under the terms of the governing document the incumbent of the Church of England Team Parish of Melton Mowbray serves as an ex-officio Trustee, two Trustees are nominated by the Parochial Church Council of the Team Parish of Melton Mowbray and six other Trustees are co-opted in accordance with the Scheme. Nominated and co-opted Trustees serve for four years after which they can be nominated or coopted for a further term. Two Trustees (nominated and co-opted) retire each year. New co-opted trustees are invited by the existing body of Trustees to accept appointment

The Trustees at the 30thJune 2022 were:
Rev’d Kevin Ashby Team Rector, Parish of Melton Mowbray
Ms Louise Finn
Mrs Alison Freer-Jones
Ms Adrienne Holland
Mr Roger Kirby Nominated Trustee
Mr Ian Neale
Mrs Catherine Shenton Nominated Trustee
Mr Keith Wilson
Mr Christopher Joseph

The Area of benefit is the town of Melton Mowbray in the County of Leicestershire.

The objects of the Charity are to promote the education of persons under the age of 27 who are in need of financial assistance, who are resident in the area of benefit, or who attend, or have attended for a period of at least 2 years a school or college in the area of benefit; the relief of persons resident in the area of benefit who are in need, hardship or distress; and to further the religious and other charitable works of the Church of England in the area of benefit.

Applications for assistance are considered by the Trustees at quarterly meetings or more often if there is a need . Grants are made in accordance with the objects of the Charity to individuals or organisations on their behalf such as schools, clubs and other local charitable institutions which work towards the advancement of education in the area of benefit. The Trustees have an arrangement with Leicester Charity Link of Leicester Charity Organisation Society Ltd (Registered Charity No. 1078271) to assist with the assessment of hardship applications and to distribute funds accordingly. Leicester Charity Organisation Society Ltd is an old established charity with a vast experience and the resources to deal with hardship applications. The Sir Richard Raynes Foundation and Others pays a small administrative fee for this service. The Trustees delegate the day to day administration of the Charity to the Honorary Secretary.

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THE SIR RICHARD RAYNES FOUNDATION AND OTHERS

TRUSTEES REPORT Contd.

Within the rules of the Scheme the Trustees consider applications from as many different persons or community Groups as possible. During the year ended 30[th] June 2022 total grants of £20,938 were paid to help and support young people and their families, and others in need, with payments directly to the individuals themselves or to organisations on their behalf including:

£6,089 local community groups and the church

Administration expenses and governance costs amounted to £930.91

Grant payments are gradually returning to the pre-covid pattern of activity, with grants to individuals, grants to students for books and equipment and to church and community groups all increasing significantly.

Income is received quarterly from investments held in the CCLA Ethical investment accounts to which the trust’s investments were transferred on 2 July 2021. A deposit account with CCLA also holds £3,000 as a buffer for unexpected demand. The Trustees’ policy is to maintain the Endowment Funds to realize the optimum income for distribution as grant. Despite recent falls in the value of the Trust’s investments, income has remained in line with forecasts.

Cash funds carried forward to 2022-23 were £49,302 plus £3,000 in the deposit account.

The Trustees have reviewed the attached financial statement as at 30[th] June 2022 and consider this to be a fair and sound position.

The Trustees hold a current account with HSBC at 17 High Street, Melton Mowbray, Leicestershire, LE13 0TY, with access to online banking

The Independent Examiner is Niall Kingsley, Duncan & Toplis Ltd, Chartered Accountants, 26 Park Road, Melton Mowbray, Leicestershire, LE13 1TT.

Ian Neale

Ian A Neale Trustee

Graham Bett Honorary Secretary to the Trustees

Date

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Independent Examiner’s Report to the Trustees of The Sir Richard Raynes Foundation and others

I report to the charity trustees on my examination of the accounts of the charity for the year ended 30 June 2022 which are set out on pages 4 to 6.

Responsibilities and basis of report

As the charity’s trustees 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 charity’s accounts carried out under section 145 of the 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 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:

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.

N A KINGSLEY ACA

Duncan & Toplis Limited

26 Park Road, Melton Mowbray, Leicestershire, LE13 1TT

Date:

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THE SIR RICHARD RAYNES FOUNDATION AND OTHERS

STATEMENT OF ASSETS AND LIABILITIES

30 JUNE 2022
INVESTMENTS(note 1)

MONETARY ASSETS
Bank - current account
Deposit account

NET ASSETS

Funds:
Income Fund – Unrestricted general purpose
Balance at 30 June 2021
Net receipts for the year

Balance at 30 June 2022
Permanent Endowment Fund
Balance at 30 June 2022
TOTAL FUNDS		 2022
£
846,680
49,302
3,000
52,302
898,982
95,859
15,689
111,548
787,434
898,982		 2021
£
846,680
33,613
3,000
36,613
883,293
79,654
16,205
95,859
787,434
883,293

Approved by the trustees on 30[th] June 2022 and signed on their behalf by: ………………………………. I A Neale - Trustee Ian Neale ……………………………… G Bett - Honorary Secretary to the Trustees Graham Bett

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THE SIR RICHARD RAYNES FOUNDATION AND OTHERS

RECEIPTS AND PAYMENTS ACCOUNT

FOR THE YEAR ENDED 30 JUNE 2022

UNRESTRICTED FUNDS:
RECEIPTS
Income from investments:
Unrestricted funds COIF income shares dividend
Endowment funds COIF Income shares dividend
Charities deposit account interest
Other Income
Refunded Grant

TOTAL RECEIPTS
PAYMENTS
Clothing and footwear
For persons in need
Educational grants payable:
Books and equipment
Raynes Scholarships
Shouler Bursaries
Individuals
Community groups & church
Local schools etc.
Administration fee (LCOS)
Postage, stationery and telephone
Independent examiners remuneration
Gifts
Room hire
Bank charges
TOTAL PAYMENTS
NET RECEIPTS FOR THE YEAR
 2022
£
2,627
34,925

6
-
_
37,558

1,296
1,440
2,376
2,000
1,000
2,660
6,089
4,077
304
18
550
-
29
30
___
21,869
15,689
 2021
£
2,505
33,290
1
1,000
_
36,796
1,440
-
1,592
1,500
2,500
-
-
12,188
160
611
500
100
-
-
___
20,591
16,205

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THE SIR RICHARD RAYNES FOUNDATION AND OTHERS

NOTES TO THE RECEIPTS AND PAYMENTS ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2022

2022 2021
£ £

1. INVESTMENTS

Investments 846,680 846,680

The investment income consists of COIF income shares. Since changing to the receipts and payments basis the assets have not been revalued. 63,579 COIF income shares are held as permanent endowment to generate income for the general purpose of the foundation. The investment is therefore held in a restricted fund, while the income generated is transferred to the unrestricted fund as it is earned.

A legacy received in 2000, the sale proceeds of land in 2001 and a donation in 2014 have been invested in 4,783 COIF income share which are held to generate income for the general purposes of the Foundation. The investment is, therefore, held in an unrestricted fund (see note 3).

2. FUND ACCOUNTING

Funds held by the charity are:

Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.

Designated funds - these are unrestricted funds earmarked by the trustees for particular purposes.

Restricted funds - these are funds that 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.

Permanent Endowment funds - these funds represent those assets which must be held permanently by the charity, principally investments. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income.

3. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Investments Bank
Balances
Restricted funds
Permanent endowment 787,434 -
787,434 -
Unrestricted funds
General59,246 52,302
846,680 52,302		 Total
2022
787,434
787,434
111,548
898,982

Details of the permanent endowment fund are given in note 2 above.

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