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The Stuart Rossiter Trust Fund
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Registered Charity Number 292076
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ACCOUNTS 31 DECEMBER 2005
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NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2005
1 The Trustees are responsible for keeping proper books of account and records appropriate to the running of the Trust and preparing the annual accounts.
2 The accounts for the year ended 31 December 2005 have been prepared on a receipts and payments basis and do not include outstanding creditors, debtors or stocks of publications held for re-sale.
3 All income shown against the relative investments represents the actual income received by the Trust, either gross or net of tax. Repayments of tax and Tax Credit Transitional Relief have been included on a cash received basis.
4 The investments of the Fund are stated on an open market value basis.
5 The Trustees have created an Income Reserve to provide for projects committed or anticipated over at least the next two years.
The accounts were approved by the Trustees on 20 February 2006
D R Beech
D F Tett
AUDITOR’S REPORT TO THE TRUSTEES OF THE STUART ROSSITER TRUST FUND
I have audited the attached accounts of the Fund, in conjunction with the notes set out above, for the year ended 31 December 2005, for which the Trustees are solely responsible.
I report that, in my opinion, the accounts and notes are in accordance with the books and records of the Fund and give, on the basis stated in the notes, a true and fair view of the receipts and payments of the Fund in the year and the position of the Fund at 31 December 2005.
M B Nichols
Chartered Accountant
43 Manor Park, Bristol BS6 7HL
20 March 2006
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| THE STUART ROSSITER TRUST FUND |
| INCOME RECEIPTS AND PAYMENTS ACCOUNT |
| YEAR ENDED 31 DECEMBER 2005 |
2005 |
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| Dividends from investments |
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13,490.36
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9,504.57 |
| Interest, Bank of Scotland and Gerrards |
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1,450.02
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|
725.19 |
| Tax credit transitional relief |
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-
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228.62 |
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| TOTAL INVESTMENT INCOME |
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14,940.38
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10,458.38 |
| Less Administration costs |
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| Secretarial costs, stationery, printing, postages |
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| and courier costs for despatch of books |
195.37
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1,554.33 |
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| Insurance |
173.25
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|
173.25 |
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| Storage costs |
291.24
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|
1,015.20 |
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| Audit fee |
500.00
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|
500.00 |
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| Trustees' expenses and disbursements |
721.59
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377.35 |
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| Tax repayment claim fees |
-
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176.25 |
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1,881.45
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3,796.38 |
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13,058.93
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6,662.00 |
| Add Trust Receipts |
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| Sale of books published by the Trust |
1,748.05
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9,922.41 |
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| Royalties |
62.07
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87.46 |
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| Donation |
150.00
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150.00 |
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| Raffle (2004-Auction) proceeds |
116.00
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20.65 |
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2,076.12
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10,180.52 |
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15,135.05
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16,842.52 |
| Less Trust costs and grants |
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| ALCS subscription |
10.00
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10.00 |
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| Printing and publication of books |
1,903.80
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14,752.30 |
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| Grants made for research and books to be published |
3,050.00
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1,298.74 |
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| Website design and rental |
2,555.63
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793.14 |
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| Annual Lecture costs |
278.81
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383.43 |
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7,798.24
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17,237.61 |
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| OPERATING SURPLUS (DEFICIT) |
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7,336.81
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(395.09) |
| Net realised and unrealised gains on listed investments |
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23,155.59
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20,254.07 |
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| NET SURPLUS OF THE YEAR |
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30,492.40
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19,858.98 |
| Less amounts received treated as capital |
328.07
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258.11 |
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| net realised and unrealised gains |
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| on listed investments |
23,155.59
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20,254.07 |
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23,483.66
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20,512.18 |
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| NET INCOME SURPLUS (DEFICIT) OF THE YEAR |
7,008.74
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(653.20) |
| ACCUMULATED INCOME SURPLUS BROUGHT FORWARD |
10,898.26
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11,551.46 |
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| ACCUMULATED INCOME SURPLUS CARRIED FORWARD |
17,907.00
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£ 10,898.26 |
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| THE STUART ROSSITER TRUST FUND |
| BALANCE SHEET |
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| 31 DECEMBER 2005 |
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2005
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|
2004 |
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| ASSETS |
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| Capital investments at market value |
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305,767.84
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285,001.00 |
| Income reserve |
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| Investments at market value |
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10,194.10
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8,830.00 |
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315,961.94
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293,831.00 |
| Cash held by Gerrards on capital account |
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-
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867.07 |
| Bank of Scotland |
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26,555.33
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19,618.52 |
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£342,517.27
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£ 314,316.59 |
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| REPRESENTED BY |
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| CAPITAL ACCOUNT |
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| at 1 January 2005 |
294,746.40
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276,750.80 |
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| Realised capital gains (losses) |
10,131.36
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3,284.23 |
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| Unrealised capital gains (losses) in the year |
11,660.13
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16,438.84 |
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| Amounts received treated as capital |
328.07
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258.11 |
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316,865.96
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296,731.98 |
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| Less costs of investment management |
1,760,72
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1,985.58 |
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315,105.24
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294,746.40 |
| INCOME RESERVE ACCOUNT |
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| at 1 January 2005 |
8,140.93
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8,140.93 |
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| ACCUMULATED INCOME SURPLUS |
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| at 1 January 2005 |
10,898.26
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11,551.46 |
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19,039.19
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19,692.39 |
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| Unrealised capital gains (losses) in the year |
1,364.10
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|
531.00 |
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| Net income surplus of the year |
7.008.74
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(653.20) |
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27,412.03
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19,570.19 |
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£342,517.27
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£ 314,316.59 |
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