THE PLYMoirrH ASTOR TRUST (VHS) (Fonnerly Viryinia House Settlement) A Company Llmited by Guarantee Company Registration N(k 02535755 Charlty No. 1000972 REPORT AI¥D FINANCIAL STATEMENrs 31 March 2025
THE PLYMOUTH ASTOR TRUST (VHS) REPORT AND FINANCIAL STATEMENTS FOR IIIE YEAR ENDED 31 MARCH 2025 CONTENrs Page Legal and adElliDistrative inforniation 216 Report of the ttustees Independent Examiner's Report Statement of funCial activities Balance sheet Notes fonning part of the fjnancial statements 10117
THE PLYMOUTH ASTOR TRUST IVHS) REPORT AND FINANCIAL STATEMENfs 2025 LEGAL AFID ADMtNISIRATIVE WFORMATION Directors P.R. Sanders (Chairman) A. Bowater A.P. Gilbert M.A.G. Hoole L Potts C. Robinson B.G. Warne Honorary President Alice Astor Regi8tered Office o TC Bromhead Ltd Harscombe House l Darklake View Plymouth PL6 7TL Bankers Solicitors Lloyds TSB Bat]k Plc. 8 Royal Parade Plymouth PLI IHB GA Solicitors Gill Akaster Hous¢ 25 Lockyer Street Plymouth PLI 2QW Jnvestni¢nt Managers A¢¢ountants RBC Brewiu Dolphill Brewin Dolphin Limited 11-15 Dix's Field Exeter EXI IQA Northcott Trumfield Chartered Accountants Devonshire Villa 52 Stuart Road Stoke Plymouth PL3 4EE Barclays w¢th 1-4 Clyde Place Lane Glasgow G5 8DP
THE PLYMOUTH ASTOR TRUST (VHS) REPORT OF THE TRUSTEES The Trustees, who are also the directors of the charity for the pwposes of the Companies Act, submit their anllual rq)ort and the financial statements forthe year ended 31 March 2025. Th¢ Trustees have adopted the provisions of the Statement of Re¢oLnmended Pra¢ti¢¢ (SORP) "Accounting alld Reporting by Charities" (FRS 102) (second edition- October 2019) in preparing the at]nual report and financial statements of the charity. Reference and administrative details of the charity, fts Trustees, and advisers The Plymouth Astor Trust (VHS) (abbreviated PAT) is a ¢ompany li]nited by guarantee (No. 02535755) incorporated in England and Wales and is a registered charity (R¢g. No. 1000972). The directors of the charitable company are its Trustees for the punx)ses of charitable law. Th¢ Company was fornierly known as Virginia House SettlemenL The Board are elected from the mellkbership and users of PAT. All are appoinfrd on a three year rotstion basis. The Board of TThtee5 bas complete responsil)i]ity for implementing our aims and objectives througb the continuous development of policy and strdtegy. Meetings are held regularly to perfom] these functions and moniti)r progress. To assist the Board to perforni its duties there may be, from time to time, task groups that are advisory in nature and report to the Board. The following served as Board Melllbers during the year: Phil Sanders (Chair), David Buckingham, Anthony GAEbert, Alexis Bowater, Marina Hoole, Chris Robinso Bethany Warne and Meghan Potts. David Buckingbwn infornjed the Board of his Tesigllation prior to the AGM. The Board express tbaDks for David's service and contribution to the Trnst over the l&st 29 years. One person in tbe rol¢ of Treasurer and Secretary is retained part-time, supported by the TTLeS. Membership of PAT is open to indÉviduals and organisations who support our Aims and Objectives. Each memb&s liability is limits in the event of the company winding up, to an amount not exceeding £1. Struetury governance and AuanagemenL The following Statement should be Tead together with the independent examinevs rq)ort on Page 7 of these accounts. This statement is made with a view to distinguishing the Tespective responsil)ilities of the Board and the Independent Examiner in relation to the ac¢ouots, &s required by the Companies Act 2006. The Board are required by the Cotnpanies Act 2006 to pryare a¢cowits for each financial year which give a lrne and fair view of the situation of PAT as at the end of the f]nancial y¢ar, 31 March, and of the income and expenditure for that year. In prepry the accounts, the Board are required to: select suitable accounting policies and apply then) consistently. observe the methods and principles of the SORP (FRS 102) (second edition- October 2019). mak¢ judgements a] estillt¢S tbat are re&8onable and prudent. state whether applicable accounting standards hav¢ b¢en followe(L subject to any DterIal departures disclosed and explained in the accounts. prepare the accounts on a going concern basis unless it is inappropriate to preslllne that the ¢harity will ¢ontinue in operatio
THE PLYMOVTH ASTOR TRUST (VHS) REPORT OF THE TRUSTEES The Board has responsibility for ensuring that PAT keeps proper accounting re¢ord8 which disclose, with reasonable accuracy, the financial position of the organisation at any tim¢ aud whxch enable them to ensure that th¢ accounts comply with th¢ provision of the Companies Act 2006. The Board h&8 a general responsibility for safeguarding the &8sets of PAT and for taking re&8onabl¢ steps for the prevention and detection of fraud alld any other ]egular1ties. The major risks to which the Charity is exposed continue to be athlressed. One of these risks is the age and gender profile of the existing Board. This been addressed in recent years with the appointment of Alexis Bowater, Marina Hoole (nee Leadbetter) BethaJ]y Warne 8nd Meghan Potts as Trustees. Also, the r¢al value of PAT'S BrewinDolphin Portfolio Comparedto a b&seline is reviewedwhen detennining the amount of to be awarded to Charities and Conununity knterest Group. Dividends earned from the Barclays Charity Fund are currently used to fimds bursaries for students studyiDg early years education at University of Ptymouth. A Risk Register is ailltained to ensure there are no conflicts of interest. Finally) PAT'S accounts are subject to independent examination. We seek Trste¢S who have good busine&s skills and Come fro and have experience of, the voluntary, public and community sectl)TS. In addition, we are keen to appoillt younger Trustees who lllay bring fresh ideas and other skills such &8 pubJi¢ relations and social medi& Trnstees are made aware oftheir responsibilities and provided with background infornlation on PAT including the rules and objectives, annual accounts, and strategy documentation. Objectlves and aetlvitles Aim ol Memorandum and Articles of Association state that PAT is: ..established for 911 or any purposes forthe benefit ofthe inhabitants ofthe Sutton Ward ofPtymouth inparticular and the City of Plymouth in general which is now or hereafter may be deellled by law to be charitable and in particular the r¢li¢f of povety, distress and sickness, the fiwtberanc¢ of health and the advancement of education and the provision of facilities in the interests of social welfare for r¢creation and leisure time occupation with the objects of improving the conditions of life for the said inhabitants And generally to do all such lawfill acts and things as are incidental and conducive to the att8iDment of these objects." In the development of PAT to meet this object we work to the following aims and objectives". To enhance the well-being of Communities and people in tbe City of Plymouth in general and the Ward of Sutton by the provision of services and facilities to promote socialjustice, welfare, and education in the areas of greatest nee(L 32 Objectiv To develop initiatives and servi¢es as appropriate in response to identified neeiL whereveTpossiI)le in ¢o-operation with other agencies and local organisations. To encourdge and support the development of voluutary organisations, their Trustees, staff, and voluut¢¢rs. To engage in and promote good community d¢velopment practice. The TTUStees have considered th¢ leg requirements that the charity is of public benefit alld are satisfied that the clwtty does meet the criteria required.
THE PLYMOtrrH ASTOR TRUST (VHS) REPORT OF THE TRUSTEES Main achievements The Ptymouth Astor Trust (VHS) has provided generous financial support for students Telating to their interests in the care and education of young children (0-8 years). In 2024-2025 bursaries are being fimded fri)m dividends earned from the Barclays Charity Fund Portfolio. £5,300 has ell transfetred to University of PIymouth who pay the bursaries to students. A total of twelve students have been awarded bursarics. The Plymouth Astor Trust agreed to award £30,OW for grants to charities and Commullity Interest Groups working witbin the city of Plymouth at its Board Meeting on 24 January 2025. Funding for these grallts being generated by our income from PAT'S Brewill Dolphin Investment Portfolio and propety rental. The closing date for grant applications is after year end Oll 30 April 2025. The Register of Interests h&8 been updated. A new 10 year lease for 30 Lwe Street (Noah's Ark Nursery) has been signed off by PAT and the Hadland Care Group. The new lease collllnellcement date was backdated to l August 2023, the day after th¢ old le&8e expired. Ba¢kdat¢d r¢nt has beell billed and receive(L The Board held an event at 3 Elliot Terrace in January 2025 to amiounce that grant applications were now open. The event was attended by the Lord Mayor of Plymouth, alongside Trnstees of PAT, Alice Astor, Nancy Astor's gran(klaughter, fornier grant recipients and an Astor Scholarship recipient who shared insiglLts into the legacy of Nancy Astor and tbe impact of grants. The Board agreed at the Board Meetillg on 24 March 2025 that Full Condition Surveys should be undertaken at all of PAT'S properties. It was agr¢ed that Phil Sallders will arrange a meeting with Stratton Creber Commercial (SCC) whi¢h would aIso be attended by Meghan to understand the scope of the Surveys, quotes received and ¢oDfim PAT'S requirements. The Board also agreed that an alt¢rnative quot¢ should be sought. It was agTeed at the Board Meeting on 24 March 2025 that Alexis Bowater would shadow Phil Sanders. Phil will copy in Alexis Bowater in any PAT correspondence.
THK PLYMoufH ASTOR TRUST (VHS) REPORT OF THE TRUSJEES Financial RevAew The net 8ssets of the charity at the year end are £1,377,223 after a revaluation loss of £15,812 on the illvestment portfolio in the year. Tht marketvakne of our equity inv¢$tments at 31 March 2025 was £981,665 andthis compares with a base cost of £814,627. The investment strategy provides income and capital growth to support the trllst¢es' objectives of helping other local charities and community Interest organisations with endowments and grants. The board is committed to th¢ir statutory duty to ensure the orgartisation's future is secur¢. PAT now has two investment portfolios. It wntinues to hold a Brewin Dolphin Portfolio and ill December 2024 took over ownership from NLAST of an illveslment in the Barclays Chaity Fund. PAT has implemented an inves1ment strategy in companies which are deemed to operate globally in an ethi¢al matmer. This is vaIid forboth these funds. PAT'S Brewin Dolphin portfolio is equily and fixed income based with snller holdings in property, Commodities, and cash. GeographicaIly, the exnphasis is on American and British equities wbi¢h collstithte nearly 600/0 of the portfolio. The Barclays Charity Fund is similarty a multi asset and geographically diverse bolding with near to 430/0 invested in equities in developed ets (USA, UK Europe), 20% in equities in emerging markets, a 20.0 % holding in bonds and 170/0 ill other assets such as propety ond Commodities. I)uring the year £39,000 was transferred from PAT'S current account to Brewin Dolphin for inveslment. Income was generated from inveslments and propety rental. Dividends received from our Br¢win Dolphin investment portfolio were £18,571 and dividen(L8 and iuterest from the Barclays Charity Fund illveslment portfolio were £5,358. Rental Income from Tops Nursery. 30 Looe Street and Friends and Families at 40 Looe Street was £30,000. There was a review of PAT'S financial position at the begiDnillg of 2025 which concluded that there had been an improvement in the real value of the Brewin Dolphin Portfolio compared to baseline 2006. Consequently, at the PAT Board Me¢tiug oll 24 January 2025 it was decid¢d that they would designate £30,000 for grants to Charities gnd Community Interest Compallie5 grants in 2025. AISO, Trustees agreed that divi(knds received from the Barclays Charity Fund Portfolio would fund bursaries to early years Sdents at University of Ptymouth. £5,300 was Irdnsferred to University of Plymouth for this purpose. The organisation's reserv¢s are spread over three categories. The capital fund supports one propety h¢ld an itivestment and the se¢ond property used by a clmrity providing childcare and nursery services. A 99 year lease was granted in 2007 for a'%Yhite rose" consideration in respect of the second property. The endowment fun(£ fjxed at £1 10,000, is intended to help secure the future of Ihe clwity and is not intended to be 8n expendable investment in ternis of revenue utilisatloll. The unrestricted fid is to provide sufficient income to support the athninistration of the charity and provide sutyicient income to meet the trnstee's objectives of providing help ill the local con]munity by the granting of financial assistance to charities, Community organisations and students of University of Plymouth. It should be noted that the Barclays Charity Fund are not designated funds solety for the benefit of Plymouth UnÉversity stud¢nts studying the care and education of young childrell (0-8 years) and could be used to achieve other ain]s and objectives illcluded in PAT'S M¢moranduEn of Association.
THE PLYMOUTH ASTOR TRUST (VHS) REPORT OF TIIE TRUSTEES Issu&¥ arfislng folloiyfing Year End Roger BretL the current Tre&8urer and Se¢ret8ry submitted his resignation on 28 February and tern]inated his empLoym¢llt with PAT on 20 June 2025. An advertisement for a replac¢ment h&8 been placed. Hatlllah Madders Tecentty infornied Phil Sanders that th¢ draft underlease and side letter for 40 Looe Street were still with FFSC'S solicito Thompson and Jackson. Phil confmed that the tern ofthe underlease and side letter were agreed as far as PAT is concerned. Phil will ¢ontact Hannah again to better undffl3tand the blockage 8nd contact Ashleigh Philips of FFSC to expedite agreemellt and sigll off the new underlea5e and side lett¢r. A total of 39 grant appli¢ations were Submitte requesting over £IOO,OIK) in fi]nding. Following careful review by a subcoEttmittee of Trnstees tasked with recommending grants, and subsequent approval at the Board Meeting on May 20t £29.998 was awarded to 39 charities and cotnmullity interest groups. This amount was paid on the May 24th At tbe Board Meeting on 20 May it was agreed that an event should be held in July at Elliot Terrace to r¢cognise the work of the awardees and pr¢s¢nt c¢rtifAcat¢s. An event has been arnged for 8 July. A document that fornis the b&sis of a PAT Ilandbook including iDforniation about financ¢, propety, le&8es, investments etc has been prepared and issued to Trustees. Trustees are of the view that the document thould ¢mbody more inforniatioll about the history and legacy of Lady Astor including infommtion about the other places in Plymouth with the natne Astor. This report has been prepared having token advantage of the small company's exemption in the Companies Act 2006. Sigrn¢d on b¢half of the Board of Managerllent 14 August 2025 by: P.IiSanders
THE PLYMoirrH ASTOR TRUST (VHS) Independent Examiner's Report to the Trust¢e$ of The Plymouth Astor Trust (VHS) I report to the charity tnteeS on my examination of the accounts of the ¢onJpany for the year ended 31 March 2025 which are set out onpages 8 to 17. Responsibilities and basis of report As tbe charity tnistees of the company (and its directors for the puryoses of company law) you are responsible for the preparation of th¢ a¢counts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Haviug satisfied mys¢lfthat the accounts ofthe company are notrequiredto be auditedunderPart 16 ofthe 2006 Act and are eligible for independent examillatio I report in re5pe¢t of my examination of your ¢ompany's accouuts as conducted under section 145 of the Charities Act 2011 ('the 2011 Act,). In conducting my examination, I have followed the Directions given by the Clwity Commission und¢r s¢¢tion 145(5)(b) of the 2011 Act. Independent examiner's statement I have completed rny eXa]natiOn. I Gonfirni that llo matters have ¢om¢ to my attention in ¢oDne¢tion with the examination giving me cause to believe that in any DterIal respect: accounting records were not kept in respect of the company as required by section 386 of the 2006 Act: or the accowits do not accord with those records; or the accounts do not compty with the accounting requirements of section 396 of the 2006 Act other th8n any requirement that tbe accounts give a 'true and fair view, which is not a matter considered as part of all independent examination. or the accounts have not been prq)ared in accordance with the methods andprinciples ofthe Statement of Reci)mmended Practice for accounttng and reporting by charities applicable to charities preparing their accounts in acci)rdance witlL the Fillancial Reporting Standard applicable in the UK and Republic of Irelalld (FRS 102). I have no concerns and have come across no other matters in CODrAe¢tion with the examition to whi¢b attention should be drawn in this report to enable a proper understanding of the accounts to be reached. Guy Ian Northeott FCA, Bsc(Econ) Hons, DChA Northeott Trumfield Charter¢d Aeeountsnts Devonshxre Vllla 52 Stuart Road Stoke Plymouth PI3 4EE Date: 14 August 2025
THE PLYMoirrH ASTOR TRUST (VHS) STATEMENf OF FINANCIAL ACTIITIT]ES (including Income and Expenditure Account) FOR THE YEAR ENDED 31 MARCH 2025 2025 Restricted Funds Unrestri¢t¢d Funds Endowment Funds 2024 Totsl Not¢s Total Income and endowments from: Investments Donations 53,929 53,929 49,448 170 185 Total income and endowments 53,929 53,929 219,633 Expenditure on: Raising fid$ Charitable activities 8,407 16,049 8,407 16,049 7,121 15,752 Totsl eendItsre 24,456 24,456 22,873 Net incomel(expenditure) and net movement in thnds before gainsl(losses) on finvestthents 29,473 29,473 196,760 Net gain/Oosses) on inv¢stments 12 15,812 15,812 70,381 Net Rncome/(expeDdlture) 13,661 13,661 267,141 Transfers between funds Other recognised gaRnslOosses) Net movement in funds 12 13,661 13,661 267,141 Reconeiliatlon orrunds: Total funds brought forward 12 966,562 287,000 i 10,000 1,363,562 1,096,421 Total funds Carried forward 12 980,223 287,000 iio,000 1,377,223 1, 363,562 All income and expenditure derive from continuing activities. The statement of financial activities includes all gains and losses recogllised (hwing the year.
THE PLYMOtrrH ASTOR TRUST (VHS) BALANCE SELEET AT 31 MARCU 2025 Note 2025 2024 Fixed assets Tangible assets Investtllents ioi,000 1.267,664 ioi,IM)O 1,244,871 Current assets Debtors Cash at bank and in band io 21,651 21,651 16,801 Creditor8: Amounts falling due within one year li 3,960 Net current assets 8,559 Total assets less current liabilitie8 1,377223 1,363,562 Net assets 1,377,223 1,363,562 Capital funds Restricted fi]nds 12 287,000 287,000 Endow]nents 12 iio,000 i 10,000 In¢om¢ funds Unrestricted funds Revaluation reserve Designated fund 12 12 12 811,161 139,062 30,000 801,964 164,598 Totsl eharity funds 1,377,223 1,363,562 For the year ended 31 March 2025 the company was entitled to exemption from audit under section 477 ofthe Companies Act 2006 relating to small compaDi¢s. Dire¢tors' responsibilities: The members have not required the company to obtain all audit of its accounts for the year in question in a¢¢ordan¢e with section 476. The directors acknowledge their responsibilities for complying with the requirements of the Companies Aot 2006 with respect to accounting r¢¢ords and the prep8rntion of accounts. The accounts have been prep8red in aOrdance with the provisions applicable to companies subject to the small compally's r¢gim¢. These fmancial statements were approved and authorised for issue by the Board of Trustees on 14 August 2025 and were signed oll their behalf by: P.R Sanders . D. tor Company No. 02535755 The notes on pages 10 to 17 fonn port of th¢se accounts.
THE PLYMOUTH ASTOR TRUST (VHS) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Summary of significant aceounting policies (a) General inforniation and basis of preparation The Plymouth Astor Trust (VHS) is an individual company limited by guarantee registered in Englalld in the United Kingdonl. tn the event of the clwAty being wound up, the liabiltty in resp¢ct of the guarantee is limited to £1 per member of Ihe charity. The address of the regxstered office is given in the Charity iDforniation on pag¢ l of these fu1¢la1 statements. The llatLWC of the ¢lwity's op¢rations and principal activities are: Aims Our Memoranduxn alld Articles of Asso¢iation state that PAT is". ..established for all or 8ny pw)os¢s forthe benefit ofthe inhabitants ofthe Sutton Ward ofPlymouth in particular and the City of Plymouth itL general which is now or her¢aft¢r may b¢ deemed by law to be charitable and in particular the relief of povety, distress and sickness, the furtberance of health and tbe advancement of ¢ducation alld the provÉsion of facilities in the interests of so¢ial welfare for recreation and leisure tim¢ occupation with the objects of improving the conditions of life for the said inhabitants and generally to do all su¢b lawfiLI a¢ts and things as are incidental and conducive to the attainment of these objects." In the d¢velopment of PAT to meet this object we work to the following aims and objectives: To enhance the well-bcing of communities and people in the City of Plymouth in general and the Ward of Sutton in particular by the provision of services and facilitses to promote social justice. welfare, and education in the areas of wtest need. The fmancial statements are prepared on a going concern basis under the hi5tori¢ rost convention, modified to include certain items at fair value. The clwity constitutes a public benefit entity as defllled by FRS102.The fmancial statements have been prepared in accordance with Accounting and Reporting by Charities: Statetnent of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial R¢porting Standard applÈcable in the UK and Republic of Ireland (FRS 102) (second edition- October 2019), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Companies Act 2006 and UK Generally Accepted Prartice as it applies from l January 2015. The financial statements are prepared on a going concern basis, as the trustees believe thatno material ull¢ertainti¢s exist. The financial statements are prepared ill sterling which is the f[ctiOnal currency of the charity and roullded to the nearest £1. The significant accounting po]icies applied in the preparation ofthese fmancial statements are set outbelow. These policies have been consistently applied to all years presented unless otherwise stated. (b) Fund accouDtiDg General funds are unrestricted funds which are available for use at the discretion of the TteeS in furtherance of the general objectiv¢s of the charity and which have not been designated for other purposes. Desiguat¢d funds comptise Ut¢striCted fimds that have been set aside by the Trnstees for pury)oses. The aim ond use of ¢a¢h designated fimd is s¢t out in th¢ notes to the fjnancial statements. Restricted fimds are funds which are to be used in ac¢ordan¢e with specific restrictions imposed by donors, or which have been raised by the cbarity for particular pwposes. Endowmentfvndy represent those assets which must be held pernwiently by the charity, principally investments. tncome arising on the ¢udowment fuuds can b¢ used in a¢cordanc¢ with the obj¢cts of th¢ charity alld is included as unrestricted income. Any capital gain5 or losses arising on the investments forni part of the fLm(L Investtnent income and gains are allocated to tbe appropriate fun(L io
THE PLYMOUTH ASTOR TRUST (VHS) NOTES TO THE FINANCIAL STAIEMENI3 FOR TKE YEARENDED 31 MARCH 2025 (¢) In¢om¢ r¢cognitlon All incoming resources are included in the SOFA whell the charity is legally entitled to the income, and the anlount can be quantified with reasonable accuracy. For legacies, entitlement is the earlier of the charity being notified of all impending distribution or the legacy being received. Gifts in kind donated for distribution are included at valuation andrecognised as income when they are distnThuted to the projects. Gifts donated forresale are included as income when they are soliL Donated facilities are included at the value to the charity where this can be quantifie(L and a tbird party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers. Incoming resources are onty defeed when the income is for a future period andlorhas imposed conditions which must be satisfied prior to the charity having entitlement to the income. (d) Expenditure recognition Resources expended are recognised in the p¢riod in which they are inawred. Resources expended include attributable VAT whicb cannot be recovered. Charitable expendxture and administration ¢osts comprise direct expenditure includillg direct staff costs attributable to the activity. Support costs include central Costs and have been allocated to activity cost categories on a basis consistent with se of resources. Governance costs are identified as costs associated with statutory constitutional requirements. Grants payable are charged in the year when the offer is conveyed to the recipient except in those cases where the off¢r is conditional, such grants being r¢cognised as exp¢nditure when th¢ conditions 8tta¢hing ar¢ fulfilled. Grants offered subj¢ct to Conditions which have not be¢n met at the year end are noted as an intention but not accrned &s expenditur¢. (e) Fiied assets and depreciatlon Fr¢¢hold properties: No depreciation is chged on these properties as the lives of the properties are so long and the residual values based on cost or subsequent revaluation to be high enougb to ensure there is no significant allnual dq)r¢ciation. FreelLoEd land is not depreciated. ADnual review takes please to establish any pernianent diminution in values of fixed assets. Depreciation is provided to write off the cost of tangible fixed assets in equal instalments over their ¢stimated useful economic life. The estimated usefid lives are as follows: Freehold and Leasehold Land and Buildings are included at the directors, best estimate of the market value. Equipm¢nt 2/• straigbt line (o Investment8 Investments held as fixed assets are recognised initially at fair value which is nornlalty the transaction price excluding transaction costs. Investments are held primarily for an illveslment Tettwn. Subsequentty they are me&8ured at fair value with Changes recognised ill net gainsAosses on itivestnlents in the SOFA if the shares are publicly traded or their fair value can be otherwise measured reliably. Debtors and creditors receivablelpayable within one year Debtors and creditors with no stated interest rate And receivable or payable within one year are recorded at transaction price. kny losses arising from impairment are recognised iti expenditswe. li
THE PLYMoirfH ASTOR TRUST (VHS) NOTES TO THE FINANCIAL STATEMENFS FOR THE YEARENDED 31 MARCH 2025 (h) Cash at bank and in hand Cash at bank and cash in hand irncludes cash and short term highly liquid inveslments with a short Luatiwity of three months or kss from the date of acquisition or opening of the deposlt or similar accounL (i) Financial instruments The charity onty has financial assets and fancial liabilities of a kind that qualify as basic fmancial instnnnents. Basic financial instrlllnents are initially recognised at transaction value and subsequently measured at their settlement value except for baJ]k loans which are subsequently measured at amortised cost using the effective interest metho( Income and endoivments Unrestricted 2025 2024 Total Total Dividends and interest receivable Propety income 23,929 30,000 53,929 20,448 29,000 49,448 170,185 Donations (NLAST & Astor Playing Field) 53,929 219,633 Expenditure 2025 Totsl 2024 Total Raisingfvnds Investment manager fees 8,407 Charitable acliviti&y Grallt making artivities: Furtb¢rance of health and social wellbeing Advancement of education (University of Plymouth) Alleviation of EK)verty 6,275 5.300 5,300 6,275 Support cost Wages 4,320 1,229 21 455 217 1,867 4,320 892 35 510 156 2,784 Postage, stationery, and document disposal Travel, traini subsistence, and welfare Marketing Legal Propety Consulting Fees 9,909 8,697 Governance Independent Examinatloll 840 780 Charitable 8Ctivities 15,752 Totsl expenditure 24,456 22,873 12
TH PLYMOUTH ASTOR TRUST (VHS) NOTES TO TIIE FINANCIAL STATEMENrs FOR THE YEARENDED 31 MARCH 2025 Grants funding of activitles 2025 Grants to Instttutions 2024 Grants to Institutii)ns Charitable activili Grant maknng activities: Education 5,300 6,275 5,300 6275 Jn year ending 31 March 2025 bursaries were fjmded from dividends earned frotn the Bar¢lays CILarÉty Fund Portfolio. £5,300 has been transfered to University of Plymouth who pay the bursaries to sdellts, A totsl of twelve students were awarded bursaries. As stated above University of Plymouth received a grant exceeding £2,500. Net income/(expeDditure) for the year 2025 2024 The net incomelexpenditure for the year is stated after charging: Governance costs: Independent Examination Profitl(loss) on fair value movement olinvestments 840 {15,812) 780 70,381 Staff numbers and Costs The average monthly number of employees during the year (excluding Trustees) by fimction was: 2025 2024 Charitable activities: The staff costs in respect of these employees were as follows: 2025 2024 Wages 4,320 4,320 No employee earned £60,000 per annum or more. None of the Trustees or p¢rsons COlln¢¢ted with them recekved ally emoluments or expenses during the year. The total aMOt of employee beneffts received by key management persoDn¢l is £nil (2024: nil). The trnst considers its key management personnel compr0ne the Trnstees. Taxation As a clwity, the company has taken advantage of the exemptions from taxation available under S505 Income and Corporation Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its chartable objects. 13
THE PLYMOUTH ASTOR TRUST (VHS) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEARENDED 31 MARCH 2025 Tangible fixed aets Freehold Land and Buildings Long Leasehold Equipment Total COST OR VALUATION At l April 2024 Additions at cost At 31 March 2025 loo,000 6,838 1,000 107,838 loo 000 107 838 DEPRECIATION At l April 2024 Charge for the year At 31 March 2025 6,838 6,838 6,838 6,838 NET BOOK VALUE At l April 2024 loo,000 1,000 ioi,000 At 31 March 2025 loo 000 ioi 000 The trustees re-value the assets periodically as to their best estimate of the open market value of the properties. Freehold Land and Buildings consists of: the propety at 24 Hoe StreeL The Hoe, Plymouth, whith is occupied by the Margaret Mcmillan Nursery (Margaret Mcmillan Limited Reg. No. 1118357). tn accordallce with the wishes of Waldorf and Nancy Astor, who gifted The Plymouth Astor Trnst (VHS) with the pr¢mises known as 24 Ho¢ Street, those premises are let to the Margaret Mcmillan Nursery School, an independent charity, on a rent free basis for as long as the school continues to fulfil its charitable purposes. Th¢ existing lease is for 99 years commencing on 29 April 2002 and expiring on 28 April 2101. Use of Assets: Freehold LAnd and Buildings Long Leasehold Equipment 2025 Total Mcmillan Nursery School (Reg. no. 1118357) Friends & Family of Special Children Oleg. no. 1114692) 1,000 1,000 loo,000 loo,000 loo,000 1,000 ioi,000 14
THE PLYMOUTH ASTOR TRUST (VHS) NOTES TO THE FINANCIAL STAIEMENrs FOR THE YEAR ENDED 31 MARCH 2025 Investments Freehold Listed Portfolio 2025 Total 2024 Total Brewin Dolphin Cost or market valu¢ at l April 2024 Additions at cost Disposal proceeds N¢t Gain/(LK>ss) on revaluation at year end 286,000 784,172 1070,172 245,366 245,366 (206,31D (206,317) (15,942) (15,942) 953,962 289,953 {233,697) 59,954 Market value at 31 March 2025 286,000 807279 1093279 1,070 172 istori¢ cost- portfolio 286,000 678,637 964,637 915.962 The freehold propety at 30 Looe StreeL Bretonside, Plyjnouth is used fornursery services by a separate organisatio Listed Portfolio 2025 Total 2024 Total Barelays Charity Fund Cost or m&rket value at 31 March 2024 Additions at cost Disposal proceeds Net Gain/(Loss) Oll revaluation at ye8r end 174,699 174,699 164,494 (443) 130 (443) 130 (222) 10,427 Market value at 31 March 2025 174,386 174,386 174,699 Historic Cost-portfolio 135,990 135,990 136,336 Investments are primarily held for an investmellt re io. Debtors 2025 2024 Other debtors ii. Creditors: Amounts falling due wlthin one year 2025 2024 Trade creditors Accruals 3,537 4,705 710 3,250 8,242 3,960 15
THE PLYMOUTH ASTOR TRUST (VHS) NOTES TO THE FtNANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 12. Statement of funds At l April 2024 GainlLoss At 31 March 2025 Income Expendltle Transfers Revaluation Profits UDrestricted funds Revaluation reserve Designated funds Pernianent Endowment funds Capital fidS 801,964 164,598 53,929 (19,156) (35,300) 9,724 (25,536) 811,161 139,062 30,000 i 10,000 287,000 (5.300) 35,31)0 i 10,000 287,000 1,363,562 53,929 (24,456) 15,812 1,377,223 At l April 2023 Gain/Loss At 31 March 2024 Income ExpenditLc Transfer6 Revaluation Profits Unrestricted funds Revaluation reserve Designated fimds Pernian¢nt [ndOWent funds Capital fimds 600,841 98,580 219,633 (16,598) (6,275) 4,363 66,018 801,964 164,598 (6,275) 6,275 iio,000 287,000 i 10,000 287.000 1096,421 219,633 22,873 70,381 1,363,562 Unrestricted Funds represent the provision of services, faci]ities, social care and community development. Designated Funds represent funds tbe board have allated for grants See section 4.1 and 4.2 for details of awards. The Endowment Fund was established in 1990 by the charity ttee9 to accumulate Ullder capital wwth ulltil £l10,OI)O in value at mini]num had been achieved and was established to provide a secure and predictable strearll of income for the The Capitsl Fullds represent the value of the propety known as 24 Hoe StreeL Plymouth, which was endowed to The Plymouth Astor TrLt (VHS) by WaldorfandNan¢y Astor who wished that those premises are let to the Margaret Mcmillan Nursery School, an independent ¢harity, on a rent free basis for as long as the school continues to fulfil its charitable purposes. A 99 year lease was granted in 2007 to the trustees of th¢ Mgrgaret Mcmillan Nursery School on Simil tern to those previously in place. The charity's residual interest is valued at £1,000. In additio tbe Restricted Capitsl Funds in¢llldes £286,000 which was granted in the year ended 31 March 1998 to the charity from the Con)mullity Fund (forni¢rly l(nown as the National Lottery CFLarities Board) specifically to purchase office equipment, furnitur¢, refurbisbm¢nt Costs alld professional fee5 for tbe purpose of developing the Redwood Family Centre at 30 Looe Street, PlYOtIL. The grant ternis and conditions expired 10 years from acquisition and is repayable upon den)and should the charity breach the conditions therein. This repayment peri h&s now expired but approval must be sought if the propety is sold or used as security. 16
THE PLYMOUTH ASTOR TRUST (VHS) NO]ES TO THE FINANCIAL STATEMETrTTS FORIHE YEAR ENDED 31 MARCH 2025 13. Analysis of funds Restricted Capital Funds Revaluation Reserve Unrestricted Desigllat¢d Funds Fund Endowment Funds Total Tangible fu(ed assets Investtnents Net current assets loo,000 672, 825 10,359 1,000 286,000 ioi,000 1,265,864 10,359 167,039 30,000 iio,(x Total net &8sets 167,039 783,184 30,000 287,000 110,000 1,377223 14. Share pital The company is a company limited by guarantee with no shar¢ capital. The liability of th¢ members is limited to £1 per member, 15. Leases The ¢lwity ha5 a 125 y¢ar le&se> granted in 2004, on the wund floor of part of 40 Looe Street under a peppercorn rent. Custodlall Trustee PAT w&s previously the Trustee of The Astor Playing Field Trust (Reg. No. 300927). With the permission of the Charity Commission the Astor Playing Field Trust h&s been dissolved alld resources transfeed to PAT. 17. Trustee remuneratlon Th¢re were no payments to trustees for remuneration or reimbursement of expenses. 18. Related party transactions There were no related paty transactions. 17