THE A H WHITELEY AND B C WHrrELEY CHARITY FINANCIAL STATEMENrs YEAR ENDED 31 IVL4RCH 2024
THE A H WHITELEY AND B C WHITELEY CHARITY FINANCIAL STATEMENrs YEAR ENDED 31 IVIARCH 2024 CONTENTS Page Charity particulars Report of the Trustees Independent examiner's report Statement of financial activities Balance sheet Cash flow statement Notes to the financial statements 8-12
THE A H WHITELEY AND B C WHITELEY CHARrrY cUTy NUMBER 1002220 TRUSTEES K E B Clayton FCA N E Aspley LLB (Hons) INVESTMENf ADVISORS Rathbones Pier Head Liverpool L3 INW SOLICITORS Ringrose Law St Peter at Arches Silver Street Lincoln LN2 IEA INDEPENDEiwf EXAMINERS PKF Smith Cooper Limited Prospect House I Prospect Place Derby DE24 8HG
THE A H WHITELEY AND B C WHITELEY CHARITY REPORT OF THE TRUSTEES YEAR ENDED 31 MARCH 2024 The Trust deed requires the trustees to make donations to other Registered Charities in England, Scotland and Wales but with particular emphasis on charities based in Nottinghamshire. TRUSTEES The trustees in office during the year are listed on page i. Also listed on page i is the charity's registration number, address of the principle office and the Charities advisors. STATEMEiwf OF TRUSTEE RESPONSIBILITIES The trustees are responsible for preparing the Trustees. Annual Report and the financial statements in accordance with applicable law and United Kingdorn Accounting Standards. The law applicable to charities in England requires the Thistees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing the 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 2015 (FRS102)' make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time, the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2016, the Charity (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. REVIEW OF THE YEAR The Statement of Financial Activities for the year is set out on page 5 of the financial statements. During the year donations totalling £57,000 have been made to different charities.
REPORT OF THE TRUSTEES (CONTINUED) YEAR ENDED 31 MARCH 2024 POLICY ON RESERVES At 31 Mairh 2024 the total vaIue of Teserves amounted to £1,958,829. The charity accumulates reserves to generate incotne from ivbich further charitable donations can be made, and as a hedge against the possibility of illvesttuellt losses in the future. FINANCIAL POs10N The charity received donation8 from one source and applies money reeeived to its charitable purpose. This source of income has now ceased and all future income will be derived fro investmeiiL8 only. Surplus funds are invested with appropriate professional advice and generate fui'ther Èncome for the charity. On behalf nf the Board of Trustees K E B Clayton 'iistee
THE A H WHrrELEY AND B C WHITELEY CHARITY REPORT OF THE TRUSTEES (coNfINUED) YEAR ENDED 31 MARCH 2024 Independent Examiner's Report to the Trustees of THE A H WHrrELEY AND B C WHITELEY CHARITY We report on the aceounts of the charity for the year ended 31 Mareh 2024 which are set out on pages 5 to 12. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 and that an independent examination is needed. It is our responsibility to: examine the accounts (under section 14(5) of the 2011 Act). follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act). and state whether particular matters have come to my attention. Basis of independent examiner's statement Our examination was carried out in accordance with the General Directions given by the Charity Commissioners. 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 ineludes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not proTride all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below. Independent examiner's statement In connection with our examination, no matter has corne to our attention: which gives us reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with section 130 of the 2011 Aet. and to prepare accounts which accord with the accounting records and to comply with tbe accounting requirements of the 2011 Act have not been met. or 2 to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. PKF Smith Cooper Ltd Accountants Statutory Auditors Prospect House I Prospect Place Derby DE24 8HG Dated:
THE A H WHITELEY AND B C WHrrELEY CHARITY STATEMENf OF FINANCIAL ACTIvrrIES YEAR EIVDED 31 MARCH 2024 Note 2024 2023 INCOME Activities in furtherance of the charity's objects: Investment incotne 55,479 58,971 TOTAL INCOME £55,479 £58,971 EXPENDITURE Costs of activities in furtherance of the charitys objects: Grants and allowances 57,000 3,000 Management and administration 14,834 10,746 Overseas taxation 877 1,300 TOTAL EXPENDITURE £72,711 £15,046 NET INCOME / (EXPENDITURE) BEFORE TIL4NSFERS (17,232) 43,925 Profit/(Losses) on Investment assets: Realised Unrealised (19,300) 128,242 (15,070) (115,288) Net movement in funds 91,710 (86,433) Funds balance at i April 2023 1,867,119 1,953,552 Funds balance at 31 March 2024 £1,958,829 £1,867,119 * All items in the Statement of Financial Activities relate to unrestricted funds. All gains and losses recognised in the year are included above.
BALANCE SHEET AS AT 31 MARCH 2024 Note 2024 2023 FIXED ASSETS Investments 1,735,480 1,600,139 cirRRENT ASSETS Cash at bank and ID hand 261,126 269,661 261,126 269,661 Ci'editors.. Amounts falling due within one year (37,777) (2,681) NET CURliEr ASSET6 223,349 266,980 £1,958,829 £1,867.119 COME FUNDS Unrestricted funds £1,958,829 £1,867,119 Aiiproved bv the Board of Trustees on: and sigLied on its behalf by K E B Clayton
THE A H WHITELEY AND B C WHrrELEY CHARrrY CASH FLOW STATEMENr YEAR ENDED 31 MARCH 2024 Note 2024 2023 Net cash (oufflow)/inflow from operating activities 17,863 43,925 Capital Expenditure Purchase of investment Proceeds from sale of investments (345,881) 319,483 (44,549) 75,927 (26,398) 31,378 (Decrease)/Increase in cash (8,535) 75,303 Notes to the cashflow statement i. Reconciliation of changes in resources to net cash inflow from operating activities Changes in resources (Decrease)/Increase in creditors (17,233) 35,096 43,925 Net cash (oufflow)/inflow from operating activities £17,863 £43,925 2. Analysis of changes in net cash AtIA 202 Cashflow At March 202 Cash at bank and in hand £269,661 £(8,535) £261,126
THE A H WHITELEY AND B C WHITELEY CHARrrY NOTES TO THE FINANCIAL STATEMENrs YEAR EI¥DED 31 MARCH 2024 i. AccouwfING POLICIES Basis of preparation The financial statements are prepared under the historical cost convention, with the exception of investments which are included at market value. The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), "Accounting and Reporting by Charities" FRS102 2015 and applicable accounting standards. 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. Incoming resources All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. For legacies, entitlement is the earlier of the charity being notÈfied of an impending distribution or the legacy being received. Investment income is accounted for when it is receivable and includes both listed amounts and short terni deposit interest. Investments Investments are stated at market value at the balance sheet date. The SOFA includes the net gains and losses arising on revaluations and disposals throughout the year. Profits on sales of investments are included in the income and expenditure account. Resources expended All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Grants payable Grants are included when they become payable.
THE A H WHfrELEY AND B C WHITELEY CHARITY NOTES TO THE FINANCIAL STATEMENTS (coNrINUED) YEAR ENDED 31 MARCH 2024 2. INVESTMEwrs 2024 Value 2023 Value UK quoted investments Overseas quoted investrnents 784,212 951,268 831,640 768,499 £1,735,480 £1,600,139 Historical cost £1,259,279 £1,223,820 UK quoted investments are represented by: Fixed interest securities Equity shares 44,286 739,926 42,830 788,810 Total £784,212 £831,640
THE A H WHrrELEY AND B C WHITELEY C NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) YEAR ENDED 31 MARCH 2024 3. GRANfs PAYABLE 2024 2024 Number Value 2023 Number 2023 Value Payable to institutions 7 £57,000 £3,000 The following grants to institutions were made: 2024 2023 Cassel Hospital Charitable Trust Jimmy's Cambridge Nottinghamshire Historic Churches Trust Notts and Lines Air Ambulance Spectrum Wasp St Mary Magdelene Whiteley Scholarship £10,000 £5,000 £9,000 £10,000 £10,000 £10,000 £3,000 £3,000 £57,000 £3,000 4. The trustees neither received nor waived any emoluments during the year (2023:£Nil). io-
THE A H WHITELEY AND B C WHrrELEY CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONfINUED) YEAR ENDED 31 MARCH 2024 5. TOTAL RESOURCES EXPENDED Total 2024 Total 2023 Other direct Grants payable Management and administration Overseas taxation 57,000 14,834 877 57,000 14,834 877 3,000 10,746 1,300 Total resources expended £72,711 £72,711 £15,046 Other direct costs include: Independent examiners remuneration £2,160 £2,160 6. FIXED ASSET INVESTMENrs At i April 2023 Acquisitions at cost Disposals at eost Net profit /(loss) on revaluation 1,600,139 345,881 (310,587) 100,047 1,761,875 44,549 (62,728) (143,557) Market value at 31 March 2024 £1,735,480 £1,600,139 7. CREDITOILS: Amounts falling due within one year Accruals £37,777 £2,681 li-
THE A H WHITELEY AND B C WHITELEY CHARITY NOTES TO THE FINANCIAL STATEMENrs (coKrINUED) YEAR ENDED 31 MARCH 2024 8. STATEMENT OF FUNDS Investrnent gains/ At 31 March losses 202 At i April 202 Income E enditure General reserve 1,867,119 55,479 (72,711) 108,942 1,958,829 Total unrestricted funds £1,867,119 £55,479 £(72,711) £108,942 £1,958,829 The general reserve represents the free funds of the charity which are not designated for a particular purposes. 9. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2024 2023 Investments Current assets Current liabilities 1,735,480 261,126 (37,777) 1,600,139 269,661 (2,681) Total Net Assets £1,958,829 £1,867,119 12-