**REGISTERED CHARITY NUMBER: 527908** **THE SIR RICHARD RAYNES FOUNDATION AND OTHERS** _**(working name: Raynes Trust)**_ ## **RECEIPTS AND PAYMENTS ACCOUNTS** ## **FOR THE YEAR ENDED** **3 0 JUNE 2023** **THE SIR RICHARD RAYNES FOUNDATION AND OTHERS** ## **TRUSTEES REPORT** ## **3 0 JUNE 2023** ## **Registered Charity No 527908** Honorary Secretary to the Trustees: Dr. C.J. Rupp, 4 Laura Davies Close, Melton Mowbray, Leicestershire, LE13 December 2001 issued The Sir Richard Raynes Foundation and Others is governed by a scheme dated 13[th ] 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 4 Laura Davies Close, Melton Mowbray, Leicestershire, LE13 1EG. Under the terms of the governing document the incumbent of the Church of England Team Parish of Melton Mowbray serves as an ex-ofÏcio 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 on the 30[th ] June 2023 were: Rev. Dr. Mary Barr 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 aims of the Charity are to promote the education of people 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 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. 1 THE SIR RICHARD RAYNES FOUNDATION AND OTHERS TRu￿EEs REPORT Contd. Within the rules of the Scheme the Trustees tonsider applications from as many different indNidua15 or community Groups as wssible. During the year ending 30th June 2023 total 8rants of £10,288.57 were paid to help and support young people and their families, and others in need, with payments directly to the individLbals theMSe￿e$ orto organisations on their behaff including: £3,124 Indwidual young people- for educ*ional expenses, in¢ludin8 travel £2,258 to students for books and learning equipment £1,417 local community groups and the church £1,490 to schools for specffic project5 £1,500 to Raynes stholarships to students £500 to Shouler bursarles to students for further educatfon Admlnistration expenses and governance costs amounted to £1,029.46 Grant payments in the 2022-2023 reduced somewhat. in relation to the previous ye•r, most noticeabty In the payments to schools and communlty groups,1-63% and-77%. respert'ivelyl. Expenditure in these areas is somewhat dependent on the projects presented, but a￿0 on publicty activitie5 on the trust. in reminding schools and communty groups of the availabilty of fvndln8. In additlon, It was not necessary to top up the funds made available to Leicester Charity Link. In the 2 quarter of the subsequent year, the Serving secretary found it netessary to step down, cthng the pressure of other commFtments. Comblned wlth the lon8-term after*ffects of COVID, this may explaln the lack of major activity in this period. Income is received quarterly from Investments held in the CCLA Ethical investment accounts to whl¢h the trust's Investments were transferred on 2 Juty 2021. A deposit account with CCLA also hold5 £3,OCMJ as a buffer for unexpected demand. The Trustees, policy is to maintsin the Endowment Funds to realize the optimum Income for dlstflbu￿0n as grnnt. Despite falls In the value of the Twst's investment5 during the COVID period, the Income has remalned In line with forecasts. Cash funds carried forward to 2023.24 weTr E76.692.86 plus £3.OCO In the deposf( account. The Trustees have revlewed the attached financlal statement as of 30th June 2023 and conslder this to be a tsir and sound posltlon. The Trustees hold a current account wlth HSBC at 17 Hi8h Street, Melton Mowbray, Leiee5tershire, LE13 OTY, with access to online bankin8 The Independent Examiner is Amanda Cornforth of Panda Bookk£eplr8, Fargate Barn. 2a Main Street, Holwell, Melton Mowbray LE14 45Z. lan Neale lan A Neale Trustee C. J. Rupp Honorary Secretary to the Trustees Date 0￿02r25 ## **Independent examiner's report on the accounts** ## **Section A Independent Examiner’s Report** > **Report to the trustees** _The Sir Richard Raynes Foundation and others_ **On accounts for the year** 30[th] June 2023 **Charity no** 527908 **ended (if any) Set out on pages** N/A (remember to include the page numbers of additional sheets) I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 30/06/2023. **Responsibilities and** As the charity's trustees, you are responsible for the preparation of the **basis of report** 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 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** I have completed my examination. I confirm that no material matters have **examiner's statement** come to my attention in connection with the examination which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - the accounts did not accord with the accounting records; or - the accounts did 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. ## **Signed:** Amanda Cornforth **Date:** 10/10/2023 **Name:** Amanda Cornforth Panda Bookkeeping **Address:** Fargate Barn, 2a Main Street Holwell, Melton Mowbray LE14 4SZ 3 1 4 **Oct 2018** **IER** THE SIR RICHARD RAYNES FOUNDATION AND OTHERS srATEMENT OF ASSETS AND UABIUTIE5 30JUNE 2023 2023 2022 INVESTMENTS fnote l) 846,680 846,680 MONEfARY ASSETS 8ank- current account Deposit account 76,693 49,302 NET ASSETS Funds: Income Fund- Unrestrlcted general purpose Balance at beginning ol financial year Net receipts for the year Balance at end of flnancial year 111,548 95.859 138,939 111,548 Permanent Endowment Fund Balance at end of financlal year TOTAL FUNDS Approved by the Trustees on 30th Janua 2025. and signed on thelr behalf: l. A. Neale - Trustee C. J. Rupp- Honorary5ecretary to the Trustees cl. K--*f ## **THE SIR RICHARD RAYNES FOUNDATION AND OTHERS** ## **RECEIPTS AND PAYMENTS ACCOUNT** **FOR THE YEAR ENDED 30 JUNE 2023** |**UNRESTRICTED FUNDS:**
**RECEIPTS**
**Income from investments:**
Unrestricted funds COIF income shares dividend
Endowment funds COIF Income shares dividend
Charites deposit account interest
**Other Income**
Refunded Grant
**TOTAL RECEIPTS**
**PAYMENTS**
Clothing and footwear
For individuals in need
Educatonal grants payable:
Books and equipment
Raynes Scholarships
Shouler Bursaries
Individuals
Community groups & church
Local schools etc.
Administraton fee (LCOS)
Postage, statonery and telephone
Independent examiners remuneraton
Gifs
Room hire
Bank charges
**TOTAL PAYMENTS**
**NET RECEIPTS FOR THE YEAR**|2 023
£
2,703
35,927
79
-
_ ____
38,709
-
-
2,258
1,500
500
3,124
1,416
1,490
-
368
550
-
52
60
____
11,318
_
27,391|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| |---|---|---| 5 ## **THE SIR RICHARD RAYNES FOUNDATION AND OTHERS** ## **NOTES TO THE RECEIPTS AND PAYMENTS ACCOUNTS** **FOR THE YEAR ENDED 30 JUNE 2023** |2|023|2022| |---|---|---| ||£|£| ## **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 shares 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**
General
59,246
46,680
79,693
79,693
8|**Total**
**2023**
787,434
787,434
138,939
926,373| |---|---| Details of the permanent endowment fund are given in note 2 above. 6