MRS B L ROBINSON'S CHARITABLE TRUST REPORT AND ACCOUNTS YEAR ENDED 5 APIUL 2024 Charity Registration No. 802552 Miller & Co. Chartered Accountants 5 Imperial Court Laporte Way LUTON Bedfordshire LU4 8FE
IRS B L ROBIINSON'S CHAIUTABLE TRUST CONTENTS Page Reference and Administrative Infomiation Trustees Report Independent Examiners Report Statement of Financial Activities Balance Sheet Notes to the Accounts Schedule I to the accounts is for the Trustees illformation only alld does not form part of the statutory accounts Schedule l - Investment Portfolio 13
MRS B L ROBINSON'S CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 5 APRIL 2024 Principal Office 70 Sharpenhoe Road Streatley. Luton Bedfordshire LU3 3PS Trustees DrRDPrew Mrs J M Godino Mrs D L Craig Mrs l Jeans Mrs T E Dales Clerk to the Trustees Mrs A Qulnn (Resigned 31 March 2024) Mrs D Haestier (Appointed l April 2024) Bankers CAF Bank POBox289 West Malling Ilent ME19 4TA Legal Advisors Debenhams Ottaway 107 St Peters Street St Albans Hertfordshire ALI 3EW Independent Examiners Miller & Co Chartered Accountants 5 Imperial Court Laporte Way Luton Bedfordshire LU4 8FE Investment Managers Rathbone Investment Management Litnited 8 Finsbury Circus London EC2M 7AZ
MRS B L ROBINSON'S CHARITABLE TRUST TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2024 The Trustees present their report along with the financial statements of the Charity for the year ended 5 April 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the Charity's Trust Dee(t the Charity's Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the FinanciaE Reporting Standard applicable in the UK and Republic of Ireland publÉshed in October 2019. Historyy constitution objectives and activities The Mrs B L Robinson's Charitable Trust is an unincorporated trLLSt constituted by a Deed of Trust on 10 November 1989, and is a iegistered Charity, No. 802552. The main objects of the Charity are to provide relief to charities by way of project donations to charities involved in Bedfordshire. The Charity achieves these objects providing financial grants to other charities which provide assistance directly to the beneficiaries. The Charity maintains an investment portfolio of stocks and shares to provide a source of income. which is used to finance its charitable aims. The Charity was set up by placing an initial sum of £ 100 into trust. Subsequently, further sums were introduced into the trust. Organisation The Trustees who have served during the year are set out on page one. Trustees are appointed by the board of Tn]stees. Each new Trnstee must f$t sign, in the Minute Book, a 'Ji declaration of acceptance and of willingness to act as a Trustee in accordance with the Trust Deed. The Trustees must meet at least once each calendar year. Risk management The Trustees have assessed the major risks to which the Charity is exposed and in particular those related to the finances of the TrLLSt and are satisfied that systems are in place to lessen our exposwe to the major risLs. Grant making policy The Charity receives applications for ftmding from local clwities for charitable purposes in Bedfordshire and from national charities engaged in raising funds for local projects in Bedfordshire. Grants are made at the Trustees discretion. Investment policy In accordance with the trust deed, the TteeS have full and unrestricted powers to invest in such stocks, shares, investments and propety as they see fit. The Trustees engaged Rathbones as investment managers. The policy is based on maximising income and growth of assets.
MRS B L ROBIIYSOIY'S CHARITABLE TRUST TRUSTEES ANNUAL REPORT AT 5 APIUL 2024 Achievements and performance During the year grants totalling £ E 16,500 (2023: £185,046) were made to cllarities in Bedfordshire towards projects that enabled them to provide assistance directly to their beneficiaries. During the current year there was an unrealised gain in the market value of the investinent assets of £339.393 (2023: uDrealised loss £357,822) and a realised loss in the market value of the investment assets of £29,347 (2023: £84,593). Financial revieTrv The income fund generated income in the year of £159,114 (2023: £159,290) from which grants have been made of £116,500 (2023: £185,046). The net outgoing resources for the year after grnnts and expenses was £5,544 (2023: £69,846). Tbis year has seen an increase in the fixed asset investment value of £262,885 at the balance sheet date compared to the previous year. Reserves policy The Trustees have agreed a level of cash reserves which takes into acci)unt both the requirement for liquid funds for Investment decisions and the level of income arising on the reserves to fimd grant making activities. This policy is reviewed regularly. The free reserves at year end were £ l 81.150. Public bellefit The trustees confirni that they have complied with their duty. set out kn the 201 I Charity Act, to have due iegard to Charity Commission guidance on public benefit. Statement of the Trustees, Responsibilities ill Respect of the Accounts The Trustees are responsible for preparing the Trustees, AJ]nual Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom GeneTally Accepted Accounting Practice) for each fmancial year which give a true and fair view of state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing these financial statements, the Trustees are required to: Select suitable accounting policies and then apply them consistently; Observe the methods and principles in the Charities SORP 2019 (FRS 102); Make judgements and estimates that are reasonable and prudent; State whether applicable accounting standards have been followe subject to any material departures disclosed and explained in the financial statements. and Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Clwi'ty will continue in operation. The Trustees are responsible for keeping pioper accounting records that disclose with re&sonabEe accuracy at any time the financial position of the Charity and enable them to ensure the fllwicial statements comply with the Charities Act 201 I, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Trustees on l October 2024 and signed on their behalf by: DrRDPrew Trustee
INDEPENDENT EXAMINER'S REPORT to the Trustees of Mrs B L Robinson's Charitable Trust I report to the Charity TrteeS on my examination of the accounts of the charity for the year ended 5 April 2024, which are set out on pages 5 to 12. Responsibililies and basis of report As the Charity's Tntee5 you are responsible for the preparation of the accounts in accordance with the requirements of the Charkties Act 2011 ('tILe Act.). I report in respect of my examination of the clmrity's accounts carried out under Section 145 of the Act and in carying out my examination I have followed all the applicable Directions given by the CEity Conllnission under section 145(5)(b) of the Act. Independent Ex4Tminer's Statemen¢ Your attention is to drawn to the fact that tbe charity bas prepared the accounts in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and RepubEic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on l April 2005 wR]ich is refetred to in the extant regulations but has since been withdrawn. We understalld that this been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after l January 2015. I have completed my examination. I confirni that no material matters have come to my attention in connection with the examination giving me cause to believe tbat in any material respect: accounting records were not kept in respect of the ckwity as required by section 130 of the Act. or the accounts do not accord with those records- or the accounts do not comply with the applicable requirements concerning the forni 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, wkn.ch is not a matter considered as part of an independent examinatio I have no concerns and have come across DO other matters in connection with the examination to which attention should be (trawn in this report in order to enable a proper understanding of the accounts to be reacbed. RACOXFCA Miller & Co. Chartered Accountants 5 tmperial Court, Laporte Way Luton. Bedfordshire LU4 8FE
MKS B L ROBINSON'S CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRJL 2024 Unrestricted Income Expendable Funds EndoTrvment Total Funds 2024 Total Funds 2023 Notes INCOME FROM: Investments Dividends Interest on Securities Bank and stockbroker interest 118.502 37.568 3.044 118,502 37,568 3,044 129,691 26,169 3,430 TOTAL INCOME 159,114 159,114 159,290 EXPENDITURE ON: Raising ftmds Investment management costs Administration costs Charitable activitics Project grants 33,802 14,356 33,802 14.356 33,488 10,602 116,500 116,500 185,046 TOTAL EXPENDITURE 164,658 164,658 229,136 NET EXPENDITURE BEFORE INVESTMENT (LOSSES) I GAIINS (5,544) (5,544) (69,846) {Losses) / gains on investments Realised on sale Unrealised (29,347) 339,393 (29,347) 339,393 (84,593) (357,822) NET (EXPENDITURE) I INCOME AND NET MOVEMENT IN FUNDS (5.544} 310,046 304,502 {512,261) Reconciliation of funds: TOTAL FUNDS BROUGHT FORWARD l 86,694 5,319,088 5,505,782 6,018,043 TOTAL FUNDS CARRIED FORWARD £181,150 £5,629,134 £5,810,284 £5,505,782 All income and expenditure derive from continuing activities.
MRS B L ROBINSON'S CHARITABLE TRUST BALANCE SHEET AS AT 5 APRIL 2024 2024 2023 Note FIXED ASSETS Investments 5,736,800 5,473,915 CURRENT ASSETS Cash at bank Deposit account Capital account Cash at stockbrokers Capital account Income account Euro Capital account 63.225 1,000 33,157 1,000 75,083 8,646 100,954 8,702 18,624 147,954 162,437 CREDITORS: Amounts falling due within one year 74.470 120,570 NET CURRENT (LIABILITIES) I ASSETS 73,484 41,867 TOTAL ASSETS LESS CURRENT LIABILITIES 5,810,284 5,515,782 CREDITORS: Amounts falling due after more thall one year 10,000 NET ASSETS £5,810,284 £5,505,782 CHARITY FUNDS Unrestricted funds Endowment funds Expendable endowment 10 181.150 186,694 10 5,629,134 5,319,088 TOTAL CEL4RITY FUNDS £5,810,284 £5,505,782 The fLnancial statements on pages 5 to 12 were approved by the board of trustees on l October 2024 and were signed on its behalf by.. DrRDPrew Trustee Mrs J M Godino Trustee
MRS B L ROBINSON'S CHAIUTABLE TRUST NOTES TO THE ACCOUNTS AT 5 APIUL 2024 ACCOUNTING POLICIES Basis ofpreparation The charity constitutes a public benefit entity as defined by FRS 102. The fjnancial statements have b¢¢n prepared in accordance with Accounting and RetK)rting by Charities: Statement of Reconllnended Practice applftcable to Charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). the Charities Act 2011 and UK Generally Accepted Accounting Practice. The fllwicial statements have been prepared to give a 'true and fair. view and have departed from the Charities (Accounts and Reports) Regulatiotks 2008 only to th¢ extent required to provide a 'true and fair view,. This departure has involved follo1ng the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities Preparing their accounts in aOrdanCe with the Financial Reporting Standard applicable in the UK and Republic of Ireland issu¢d in October 2019 rdther than the Accounting and Reporting by Chan'ties: Statement of Reconmlended Practice effective from l April 2005 which has since been withdraw The fmancial stst¢m¢nts ar¢ pr¢par¢d OD a going concern b&sis under the historical cost convention, modified to include certain items at fair value. The fmancial stalements are presented in sterling and rounded to the nearest pound. The address of the principal office is given iti the charity infonnation on page l of these financial Statements. Income recognition Income is recognised whert the amount can be reliably measu1 the charity has legal entitlement to it and there is sufficient certainty of receipt of the income. Fired a35et investhients Investments are recognised Initially at fair value which is norn]ally transaction price. Subsequently they are measured at fair value with changes recognised in 'net gains l (losses) on investments, in the statement of f8claI activitie5 Lf the shares are publicly traded or their fair value can otherwise be measured reliably. Realised gains or losses on investrnents are calculated as the difference between the disposal proceed5 and the opening market value (purchase date if later). Unrealised gains or losse5 on investments are calculated as the difference between the market value at the year end and the opening market value (purchase date if later). Debtors and creditors receivable/payable pviihin oneyear Debtors and creditors receivable or payable within one year are recorded at transaction price. Supporc costs Support costs are those thai assist the work of the clwity but do not directly represent charitabl¢ activities and include governance costs. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on cbaritable activities on a basi5 consistent with the use of the resources. Going concern The financial statements have been prepared on the going concern basis as the trnstees believe that no materiaE uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these fmancial statements.
MRS B L ROBINSON'S CHARITABLE TRUST IYOTES TO THE ACCOUNTS AT 5 APRIL 2024 (contillued) Fund.¥ Unrestricted ndS comprise those funds which the Trnstees are free to use in accordance with the charitable objects. Income generated from end0rynent funds are unrestricte(t Expendable endowment fun(18 are endowment funds where the Trustees have the power to convert the endownent fund into expendable income. When such a power is exercised the relevant funds become restricted or unrestricted funds depending on whether the donor has imposed any restrictions on the application of the funds. Expenditure recognition Project grants are accrued for in these accounts once the expenditure has en authorised for payment by the board of Trustees. Other expenditure is recognised when the amount can be reliably measured, there is a legal obligation to make it and it is probable that settlement will be required. ADMINISTRATION COSTS Basis of Allocation Income Fund Expend8ble Endowment 2024 Total 2023 Total Governance costs Independent examiners fees Clerk's fees pps Bank Charges Insuranc¢ Excbange difference Direct Direct Direct Direct Direct Direct 3,252 8.980 307 86 213 1.518 3,252 8,980 307 86 213 1,518 3,180 7,785 392 90 308 (1,153) 14.356 14,356 10,602 STAFF COSTS During the year there were no employees paid by the charity. The administration of the charity is undertaken by the Clerk to the Trustees. The fees in the year paid to the outgoing clerk, Mrs A Quinn, amounted to £7,780 (2023.. £7,785) and the fees paid to the incoming clerL Mrs D Haestier, amounted to £1,200 (2023: £nil}. TRANSACTIONS WITH TRUSTEES No Trustees have received any remuneration or expenses reimbursement in a personal capacity for acting as a Trustee (2023: same). INDEPENDENT EXAMIIYERS REMUNERATION The independent examiners remunerdtion amounts to an independent examiners fee of £1,152 (2023: £1,128) and accountancy services fee of £2:1 (MI (2023: £2,052).
MRS B L ROBINSON'S CHARITABLE TRUST NOTES TO THE ACCOUNTS AT 5 APRIL 2024 (continued) INVESTMEIYTS 2024 2023 Listed Anvestments Stocks and shares 5,736,800 5.473.915 Movements in fixed asset investments: Market value at 6 April Additions at cost Disposal proceeds Realised gain/(loss) oll disposal UTLrealised revaluation gain/{loss) 5,473,915 5,870,078 1,810,289 991,084 (1,857,450) (944,832) (29,347) (84.593) 339,393 (357,822) Market value at 5 April 5,736,800 5,473,915 Historical cost as at 5 April 4,991,456 4,991,804 Investments can be summarised as follows: UK stocks Foreign stocks 2,405,985 2,881,293 3,330,815 2,592,622 Market value at 5 April 5,736,800 5,473,915 The fair value of listed investments is detennined by reference to the mid-nTrrket price at the year end. CREDITORS 2024 2023 Amounts falling due within one year Grants payablc AccNals 62,500 11,970 109,000 11,570 74,470 120.570 Amounts falling due after more than one year Grants payable 10,000 10,000
10. MRS B L ROBINSON'S CHARITABLE TRUST NOTES TO THE ACCOUNTS AT 5 APIUL 2024 (continued) GRANTS 2024 2023 Charitable grants made to institutions during the period comprise: Airfield Volunteer Fire Service A4S (Progressability.org) All Saints Church Great Barford Asthma Relief Autism Bedfordshire Bedford MS Therapy Centre British Limbless Ex-servicemen's Association (BLESMA) Country Days Ltd Crackerjack's Children's Trust East AngEian Air Ambulance Elisabeth Curtis Riding for the Disabled Families United Network Friends of Bushmead SchooI GSE UK (Bedford Scout Group) Goldington Reading & Recreation Rooms Great Barford Village Hall Kings Arms Project (Bedford) Leighton Linslade Citizens Advice Bureau Level Tnt Luton Sea Cadets Living It Up Music 24 New Life Charity for Disabled CR]ildren Odell Village Hall Out of Class Salto Gymnastics Charitable Foundation Shefford Methodist Church Shine Smart CJS St Andrew's Church, Ampthill St Mary's Church Clophill St Mary Magdalene Church Roxton PCC St Nicholas Church, Hockliffe, St Paul's Church, Bedford St Peter & St Paul Cranfield PCC Streatley Village Hall Sue Ryder The Bedfordshire Hospitals NHS Charity The Friends of All Saints Church Shillington The Luton Culture Trust (Hat Industry and Headwear) Wilstead Primary School 10,000 5,084 8,000 2,850 10,000 30,000 4,500 1,000 1,515 10.000 7,000 3,000 5,000 2,000 4,000 1,500 9,600 10,000 10,000 12,000 2,815 2,782 5,000 5,000 3.000 5,000 3,000 1,000 4,000 10,000 7,500 700 10,000 10,000 5,000 32.500 11,200 10,000 5,500 5,500 15,000 116,500 185,046
11. MRS B L ROBINSON'S CHARITABLE TRUST NOTES TO THE Accouwrs AT 5 APRIL 2024 (continued) ANALYSIS OF NET ASSETS BY FUND Ineome Fund Expendable Endowment 2024 Total Fixed asset investments Current assets CUent liabilities 107,666 147,954 (74,470) 5,629,134 5,736,800 147,954 (74,470) 181,150 5,629,134 5,810.284 Income Fund Expendable Endowment 2023 Total Fixed asset investments Current assets Current liabilities Creditors more than one year 154,827 162,437 {120,570) (10,000) 5,319,088 5,473,915 162,437 (120,570) (10,000} 186,694 5,319,088 5,505,782 10. FUND RECONCILIATION Unrestricted 2024 2023 Income fund at 6 April Net income / (expenditure) for the year 186,694 256,540 (5,544) (69,846) Income fund at 5 April 181,150 186,694 The unrestricted income fund comprises funds that the Trustees are free to use in accordance with the cbaritable objects.
12. MRS B L ROBINSON'S CHARITABLE TRUST NOTES TO THE ACCOUNTS AT 5 APRIL 2024 (continued) FUND RECONCILIATION (continued) Restricted 2024 2023 Expendable endowment fund at 6 April (Losses) / gains 5,319.088 5,761,503 310,046 (442.415) Expendable endowment fjjnd at 5 April 5,629,134 5,319,088 The Expendable Endowment Fund comprises an investment portfolio which was donated to tbe trust. It is held as an expendable endowment to provide investment income to enable the Clwity to achieve its aims. The Trustees have agreed levels of reserves which are to be regarded as part of the endowment fund. I I. TIL4NSACTIONS WITH RELATED PARTIES There were no related paty transactions in the year (2023: same). 12. FINANCIAL INSTRUMENTS The carrying amount of the Charity's financial instDJments are as follows: 2024 2023 Financial assets Measured at fair value through net income / expenditure: Fixed asset listed investments (note 6) 5,736,800 5,473,915 The income, expenses. net gains alld net losses atttibutable to the clwity's fanCIal instruments are summarised as folEows: Income and arpense Financial assets measured at fair value througb net income 122,268 125,802 The total interest income for financial assets that are not measured at fair value was £3,044 {2023: £3,430). Net gains and losses (including changay irtfair value).. Financial assets measured at fair value tlu-ough net income / expenditure 310,046 (442,415)