Thorntons Charitable Trust

Transcription

1 DTL5332/c/16 DTL/NB(TH Thorntons Charitable Trust (Charity Ref No: SC036276) Accounts for the year to 31 December 2015 Contents Report of the Trustees Report by Independent Examiner Accounts Notes to the Accounts Thorntons Law LL~ Solicitors, Whitehall House, 33 YeamanShore, Dundee J Telephone: Fax:

2 2 Report of the trustees for the year to 31 December 2015 Names of Trustees Date/Manner of Appointment Trust Deed Trust Deed Trust Deed Appointment of Trustees: Trustees are nominated by the then existing Trustees and their appointment confirmed by a formal Deedof Assumption. Agents and Administrators for the Trust (and principal address of the Charity) Thorntons Law LLP,Whitehall House, 33 Yeaman Shore, Dundee DDl 4BJ Independent Examiner Henderson Loggie, The Vision Building, 20 Greenmarket, Dundee Charity Reference Nos Scottish Charity No: SC Constitution and Objects Deed of Trust by Thorntons Trustees Ltd, dated 19 January 2005 and registered in the Books of Council and Session on 26 January Objects:- a) Unrestricted Fund- (i) (ii) To hold the Trust Fund for charitable purposes exclusively; To benefit one or more charitable institution(s) as the Trustees in their uncontrolled discretion may select from time to time; (iii) To implement or assist to implement any charitable purpose(s) in the UK which the Trustees in their uncontrolled discretion may from time to time by Minute resolve upon; (iv) By irrevocable Supplemental Declaration of Trust, from time to time and at any time, to set aside, invest and hold such part of the Trust Fund as a separate Designated Fund solely for behoof of any charitable institution(s) named in the Supplemental Declaration or solely for any charitable purpose(s) specified in the Supplemental Declaration. b) Daniel Wolf Fund- In so far as is charitable, to provide funding to Cold Spring Harbor Laboratory, 1 Bungtown Road, Cold Spring Harbor, NY11724, USA (recognised as a public charity in the USA by the USA Department of the Treasury) to be added by them to the Daniel Wolf Prize Fund which is held and operated by them. c) V & A at Dundee Fund- In so far as is charitable, to provide funding for staff, equipment or materials for the purposes of promoting and furthering the creation, development and running of the facility known as or to be known as The V & A at Dundee in such way and manner as the Trustees in their uncontrolled discretion may decide upon, and to pay any other costs including construction costs or expenses incurred in promoting and furthering the creation, development and running of The V & A at Dundee.

3 3 Report of the trustees for the year to 31 December 2015 (cont) Vesting Oate 31 December 2080 Organisation The day-to-day administration is carried out by Thorntons, as agents for the Trust. The Trustees meet as and when required to review all aspectsof the Trust's affairs. Activities and Achievements The trust continues to receive donations from various sources. General Fund - During the year a fundraising Charity Dinner was organised, the net proceeds of which (over 19,000) were distributed equally between The Archie Foundation and Children's Aid. Donations of 200 were also received and 250 distributed in pursuance of the stated general objectives of the Charity. Daniel Wolf Fund - There was no activity in this fund during the year. V& A at Dundee Fund- There was no activity in this fund during the year. Financial Position The financial position of the trust is as set out on pages5 and 6 Reserves policy The reserves of the Trust originate from various donations and bequests. The trustees have adopted a reserves policy that should ensure the continuing ability of the Trust to meet its objectives. Approved by the above-named trustees:

4 4 Independent Examiner's Report to the Trustees of Thorntons Charitable Trust I report on the accounts of the charity for the year ended 31 December 2015 which are set out on pages 5 to 7 Respective responsibilities of trustees and examiner The trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 ('the 2005 Act) and the Charities Accounts (Scotland) Regulations 2006 (as amended) ('the 2006 Regulations). The trustees consider that the audit requirement of Regulation 10(1) (d) of the 2006 Regulationsdoes not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the 2005 Act and to state whether particular matters have come to my attention. Basis of independent examiner's statement My examination is carried out in accordance with regulation 11 of the 2006 Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. Independent examiner's statement In the course of my examination, no matter has come to my attention 1. which gives me reasonablecause to believe that in any material respect the requirements: to keep accounting records in accordancewith section 44(1) Ca)of the 2005 Act and Regulation 4 of the 2006 Regulations, and to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Regulations have not been met, or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Henderson Loggie The Vision Building 20 Greenmarket Dundee ~a",,~ 2016

5 5 Thorntons Charitable Trust Receipts and Payments for the year ended 31 December 2015 Receipts Daniel General Wolf V&A Fund Fund Fund Total Total Schedule Donations received Charity Dinner - Gross Income 2 46,905 46,905 50,820 Income tax recovered Interest received Total Receipts , Payments Charitable Activities 3 46,905 46,905 51,070 Governance Total Payments , Surplus/(Deficit) for year {47}

6 6 Statement of Balances as at 31 December 2015 Cash on deposit and on hand Daniel General Wolf V&A Fund Fund Fund Total Total f Opening balance 3, ,266 3,313 Surplus/(Deficit) for year (47} Closing balance 3, ,619 3(266 Reserves Unrestricted Funds 3,509 Restricted Funds 110 3, Total Funds 3,619 3(266 There were no liabilities as at 31 December 2015.

7 7 Schedule 1 Donations received General Daniel Wolf V&A Fund Fund Fund Total Total Prof A J McDonald Schedule 2 Charity Dinner Total Proceeds 46,905 46,905 50,820 Total Costs (27,286) (27,286) (36,511) Net proceeds 19,619 19,619 14,309 One-half share paid to The Archie Foundation One-half share paid to Children'sAid 9,809 9,810 19,619 14,309 Schedule 3 Charitable Activities Distributions made in year: The Archie Foundation, as above ( Dreamflights) Children'sAid, as above Tayside Mountain Rescue 9,809 9,810 19,619 9,809 7,154 9,810 7, ,619 14,559 Support costs Charity Dinner costs 27,286 51,070 27,286 36,511 51,070 51,070 No trustees received any remuneration or expensesfrom the trust during the last two years.

8 8 Thorntons Charitable Trust Notes to the Accounts 1. Accounting Policies Basis of Preparation The Accounts are prepared in accordance with the Charities Accounts (Scotland) Regulations 2006 and the Charities and Trustee Investment (Scotland) Act 2005 (as amended) 2. Independent Examiner The Trustees approve the appointment/continued appointment of the Independent Examiner as detailed in the Report by the trustees in these Accounts.