REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
THE HENRY DENMAN AND AGNETA MARY COOK |
CHARITY |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
THE HENRY DENMAN AND AGNETA MARY COOK |
CHARITY |
THE HENRY DENMAN AND AGNETA MARY COOK |
CHARITY |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Report of the Trustees | 1 | to | 3 |
Independent Examiner's Report | 4 | to | 5 |
Statement of Financial Activities | 6 |
Balance Sheet | 7 | to | 8 |
Notes to the Financial Statements | 9 | to | 15 |
THE HENRY DENMAN AND AGNETA MARY COOK |
CHARITY (REGISTERED NUMBER: 03956167) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. 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 are such charitable purposes as the trustees/directors shall think fit. |
Significant activities |
The significant activity of the charity is to make grants to charitable organisations. |
Grantmaking |
The directors/trustees decide which charitable organisations will receive grants and plan to distribute the annual accounting surplus. |
The Trustees confirm that they have complied with the duty in Section 17 (5) of the Charities Act 2011 to have due regard to public benefit when reviewing the Trust's aims and objectives and in planning future activities and setting the grant making policy for the year. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
The charity makes payments to charitable organisations in line with the sole source of income received (ie investment income). Every year it makes substantial grants to at least two charities. |
Investment policy and performance |
Investments funds are under the discretionary administration of to provide a balance between income and capital growth. |
FINANCIAL REVIEW |
Financial position |
During the year the charity received income of £27,561 from investments and made charitable payments of £15,000. As at 31 March 2024 the charity's unrestricted fund reports a deficit of £21,596 (2023: Deficit £28,180) and the endowment fund reports a surplus of £644,549 (2023: £705,128). |
Principal funding sources |
The principal funding source of the charity is the income derived from its investments. |
Investment policy and objectives |
Investment funds are under the discretionary administration of Redmayne Bentley LLP to provide balance between income and capital growth. |
Reserves policy |
The charity aims to retain funds to cover grants and governance costs for one year. All unrestricted fund income will be distributed in due course. |
THE HENRY DENMAN AND AGNETA MARY COOK |
CHARITY (REGISTERED NUMBER: 03956167) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
FUTURE PLANS |
The charity is a lasting testimony to the generosity and philanthropic concerns of the donor, the late Mrs K A Thomas and in accordance with her wishes the charity will continue to make grants to charitable organisations as the trustees see fit. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity was established by a lifetime settlement on 31 May 2000 by Mrs K A Thomas Deceased 25 October 2005 and £100,000 settled by the estate of Rev D H Bond-Thomas Deceased on 29 March 2007. |
The organisation is a charitable company limited by guarantee, incorporated on 21 March 2000 and registered as a charity on 31 May 2000. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up, members are required to contribute an amount not exceeding £5 to the assets of the company. |
Trustees/Directors and Organisational Structure |
The directors of the company are also charity trustees for the purposes of charity law. The trustees who held office during the financial year and at the date of this report are set out on page 1. There is no requirement for trustees to retire and it is not intended to appoint any new trustees at this time. If and when new trustees are appointed, they will be given an introduction to the work of the charity and provided with the information they need to fulfil their roles, which includes information about the role of trustees and charity law. All of the existing trustees have long experience of being charity trustees. |
The trustees/directors meet annually and are responsible for the direction and policy of the charity. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
THE HENRY DENMAN AND AGNETA MARY COOK |
CHARITY (REGISTERED NUMBER: 03956167) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Independent Examiner |
Vale & West |
Chartered Accountants |
Victoria House |
26 Queen Victoria Street |
Reading |
Berkshire |
RG1 1TG |
Solicitors |
Boyes Turner LLP |
Abbots House |
Abbey Street |
Reading |
RG1 3BD |
Investment Managers |
Redmayne Bentley LLP |
Market Place House |
43 Market Place |
Henley-on-Thames |
RG9 2AA |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
THE HENRY DENMAN AND AGNETA MARY COOK |
CHARITY |
Independent examiner's report to the trustees of The Henry Denman and Agneta Mary Cook Charity ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
THE HENRY DENMAN AND AGNETA MARY COOK |
CHARITY |
Independent examiner's statement |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
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. |
L P Gardner FCA |
Vale & West |
Chartered Accountants |
Victoria House |
26 Queen Victoria Street |
Reading |
Berkshire |
RG1 1TG |
17 January 2025 |
THE HENRY DENMAN AND AGNETA MARY COOK |
CHARITY |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 31 MARCH 2024 |
31.3.24 | 31.3.23 |
Unrestricted | Endowment | Total | Total |
funds | fund | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Investment income | 3 |
EXPENDITURE ON |
Raising funds | 4 |
Charitable activities | 5 |
Total |
Net gains/(losses) on investments | ( |
) | ( |
) | ( |
) |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
Transfers between funds | 11 | 41,138 | (41,138 | ) | - | - |
Net movement in funds | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | ( |
) |
TOTAL FUNDS CARRIED FORWARD | 676,948 |
THE HENRY DENMAN AND AGNETA MARY COOK |
CHARITY (REGISTERED NUMBER: 03956167) |
BALANCE SHEET |
31 MARCH 2024 |
31.3.24 | 31.3.23 |
Unrestricted | Endowment | Total | Total |
funds | fund | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 8 |
CURRENT ASSETS |
Debtors | 9 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 10 | ( |
) | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 11 |
Unrestricted funds | (28,180 | ) |
Endowment funds | 705,128 |
TOTAL FUNDS | 676,948 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. |
THE HENRY DENMAN AND AGNETA MARY COOK |
CHARITY (REGISTERED NUMBER: 03956167) |
BALANCE SHEET - continued |
31 MARCH 2024 |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
THE HENRY DENMAN AND AGNETA MARY COOK |
CHARITY |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Henry Denman & Agneta Mary Cook Charity is a charitable company limited by guarantee without share capital (company registration number 03956167). The charity is also registered with The Charity Commission (charity registration number 1080934). |
The principal address is Victoria House, 26 Queen Victoria Street, Reading, Berkshire. The charity operates in Reading, Berkshire. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, 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)' and the Companies Act 2006. |
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. |
The financial statements are presented in Pound Sterling (£), which is also the functional currency of the company. |
Incoming resources |
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. |
Resources expended |
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates: |
- charitable expenditure comprises grants to charitable organisations. |
- governance costs include the costs of meeting the constitutional and statutory requirements of the charity. |
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 charity is exempt from corporation tax on its charitable activities. |
THE HENRY DENMAN AND AGNETA MARY COOK |
CHARITY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
Fund accounting |
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. |
Endowment funds represent those assets which must be held permanently by the charity, principally investments. |
3. | INVESTMENT INCOME |
31.3.24 | 31.3.23 |
£ | £ |
UK Dividends |
Foreign Dividends | 4,767 | 6,451 |
UK Property Income | 2,221 | 1,627 |
UK Interest | 3,548 | 3,642 |
Bank Deposit Interest | 67 | - |
4. | RAISING FUNDS |
Investment management costs |
31.3.24 | 31.3.23 |
£ | £ |
Investment Management Fees | 3,909 | 4,309 |
THE HENRY DENMAN AND AGNETA MARY COOK |
CHARITY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
5. | CHARITABLE ACTIVITIES - GRANTS PAID |
31.03.24 | 31.03.23 |
£ | £ |
Reading Street Pastor | 3,000 |
Cowshed | 3,000 |
Burghfield Sailability | 3,000 |
Promise Inclusion | 3,000 |
Launchpad | 3,000 |
Reading Refugee Support Group | 5,000 |
Launchpad | 5,000 |
Humanity inclusion | 5,000 |
Ukraine | 5,000 |
Islamic Aid Sadaqah | 5,000 |
15,000 | 25,000 |
6. | SUPPORT COSTS |
31.3.24 | 31.3.23 |
£ | £ |
Accountancy fees | 2,853 | - |
Legal fees | 1,020 | 154 |
6,717 | 154 |
7. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
THE HENRY DENMAN AND AGNETA MARY COOK |
CHARITY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
8. | FIXED ASSET INVESTMENTS |
Listed |
investments |
£ |
MARKET VALUE |
At 1 April 2023 |
Additions |
Disposals | ( |
) |
Revaluations | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 | 653,509 |
At 31 March 2023 | 660,819 |
There were no investment assets outside the UK. |
The historical cost of listed investments is £620,249 (2023 - £610,918). |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Other debtors |
Prepayments and accrued income |
THE HENRY DENMAN AND AGNETA MARY COOK |
CHARITY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Authorised grant commitments |
Other creditors |
Accrued expenses |
11. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.4.23 | in funds | funds | 31.3.24 |
£ | £ | £ | £ |
Unrestricted funds |
Unrestricted fund | (28,180 | ) | 8,638 | 41,138 | 21,596 |
Endowment funds |
Endowment fund | 705,128 | (19,441 | ) | (41,138 | ) | 644,549 |
TOTAL FUNDS | (10,803 | ) | 666,145 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
Unrestricted fund | 27,511 | (18,873 | ) | - | 8,638 |
Endowment funds |
Endowment fund | 50 | (3,909 | ) | (15,582 | ) | (19,441 | ) |
TOTAL FUNDS | ( |
) | ( |
) | (10,803 | ) |
THE HENRY DENMAN AND AGNETA MARY COOK |
CHARITY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
11. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1.4.22 | in funds | 31.3.23 |
£ | £ | £ |
Unrestricted funds |
Unrestricted fund | (28,830 | ) | 650 | (28,180 | ) |
Endowment funds |
Endowment fund | 777,349 | (72,221 | ) | 705,128 |
TOTAL FUNDS | 748,519 | (71,571 | ) | 676,948 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
Unrestricted fund | 30,113 | (29,463 | ) | - | 650 |
Endowment funds |
Endowment fund | - | - | (72,221 | ) | (72,221 | ) |
TOTAL FUNDS | 30,113 | (29,463 | ) | (72,221 | ) | (71,571 | ) |
THE HENRY DENMAN AND AGNETA MARY COOK |
CHARITY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
12. | RELATED PARTY DISCLOSURES |
Vale & West |
J Pyke a Partner of Vale & West Chartered Accountants. During the year the charity was charged £2,853 (2023 - £nil) for accountancy services. |
Redmayne Bentley LLP |
E R Heaver is an Investment Manager with Redmyane Bentley LLP. During the year the charity was charged £3,908 (2023 - £4,309) for investment management services. |
Boyes Turner LLP |
P D Lowery is a Partner of Boyes Turner LLP. During the year the charity was charged £1,020 (2023 - £154) for legal services. |