REGISTERED CHARITY NUMBER: 1002755
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 5 April 2024
for
The Scurrah Wainwright Charity
KJA Bairstow & Atkinson Network House Stubs Beck Lane Cleckheaton West Yorkshire BD19 4TT
The Scurrah Wainwright Charity
Contents of the Financial Statements for the Year Ended 5 April 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 14 |
| Detailed Statement of Financial Activities | 15 |
The Scurrah Wainwright Charity
Report of the Trustees for the Year Ended 5 April 2024
The trustees present their report with the financial statements of the charity for the year ended 5 April 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 trustees hold the capital and income upon trust to apply the income and all or part of the capital for charitable purposes and to make donations to charitable institutions at such times and in such a manner as the trustees may in their absolute discretion think fit.
The aim of the charity is to support a wide range of charitable projects, with an emphasis on social reform both in Britain and abroad.
Significant activities
The charity's main activity is investment in order to support the payment of grants.
Public benefit
All approved grants are considered by the trustees to be for public benefit. In providing this support, the trustees have had due regard to the guidance published by the Charity Commission on public benefit.
Grantmaking
The charity invites applications for funding through directories of grant-making trusts and through its website www.wainwrighttrusts.org.uk. Applicants are invited to submit background information about themselves, the project they intend to pursue and details of its practical implementation, together with budgets and other sources of finance. The charity gives strong consideration to applications from the Yorkshire region as well as to those from Southern Africa, particularly Zimbabwe. The trustees require feedback on the actual use of grants awarded and the achievements made in order to monitor and assess the quality of grants made.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year the charity has been able to provide grants to support forty one organisations with diverse aims and for the benefit of countless individuals.
Fundraising activities
The charity does not actively raise funds.
Investment performance
The charity relies on its investment managers, Close Brothers Asset Management, to manage investment income to support the charity's grant-making activity.
FINANCIAL REVIEW
Reserves policy
All income is distributed every year with none being held in reserve; the reserves held by the charity are purely of a capital nature. This capital reserve is held in order to generate future investment income to enable grants to be made in future years.
Funds in deficit
An element of capital may be distributed each year which may result in the revenue reserve falling into deficit.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The charity takes its name from Henry Scurrah Wainwright OBE who was a chartered accountant and social reformer. He was instrumental in founding and growing the Leeds medical company Chas F Thackray Ltd. The charity was originally endowed through funds from the sale of that company in 1990.
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The Scurrah Wainwright Charity
Report of the Trustees for the Year Ended 5 April 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees
Appointments are based on the unanimous agreement of all trustees. New trustees may be appointed at any time but so that the total number of trustees shall at no time exceed eight.
Organisational structure
The trustees meet three times a year to assess grant applications for approval or refusal.
Induction and training of new trustees
MS Wainwright is responsible for the induction of any new trustee. Such induction would include awareness of a trustee's responsibilities, the governing document, administrative procedures and the history and philosophical approach of the charity. A new trustee would also receive copies of the previous year's annual report and accounts and a copy of the Charity Commission document "The Essential Trustee: what you need to know, what you need to do".
Related parties
The Andrew Wainwright Reform Trust Limited is a related party under common control.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1002755
Principal address
The Barn Thrupp Kidlington Oxford OX5 1JY
Trustees
M S Wainwright H P I Scott H A Wainwright (resigned 17.11.23) P Wainwright T M Wainwright Ms J Scott (appointed 17.11.23) T M Winslow (appointed 17.11.23)
Independent Examiner
N Effendi KJA Bairstow & Atkinson Network House Stubs Beck Lane Cleckheaton West Yorkshire BD19 4TT
Independent Examiner
KJA Bairstow and Atkinson Network House Stubs Beck Lane Cleckheaton BD19 4TT
Advisers
Close Brothers Asset Management 10 Crown Place London EC2A 4FT
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The Scurrah Wainwright Charity
Report of the Trustees for the Year Ended 5 April 2024
Approved by order of the board of trustees on 20 December 2024 and signed on its behalf by:
M S Wainwright - Trustee
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Independent Examiner's Report to the Trustees of The Scurrah Wainwright Charity
Independent examiner's report to the trustees of The Scurrah Wainwright Charity
I report to the charity trustees on my examination of the accounts of The Scurrah Wainwright Charity (the Trust) for the year ended 5 April 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
N Effendi The Institute of Chartered Accountants in England and Wales
KJA Bairstow & Atkinson Network House Stubs Beck Lane Cleckheaton West Yorkshire BD19 4TT
20 December 2024
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The Scurrah Wainwright Charity
Statement of Financial Activities for the Year Ended 5 April 2024
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Investment income 2 Total EXPENDITURE ON Raising funds 3 Charitable activities Grants to charitable activities with emphasis on social reform Other Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2024 Unrestricted fund £ 78,751 72,282 151,033 22,073 158,957 11,577 192,607 75,902 34,328 2,761,342 2,795,670 |
2023 Total funds £ 28,750 76,142 |
|---|---|---|
| 104,892 | ||
| 22,225 172,656 9,944 |
||
| 204,825 | ||
| (106,982) | ||
| (206,915) 2,968,257 |
||
| 2,761,342 |
The notes form part of these financial statements
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The Scurrah Wainwright Charity
Balance Sheet 5 April 2024
| Notes FIXED ASSETS Investments 7 CURRENT ASSETS Debtors 8 Cash at bank CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 11 Unrestricted funds TOTAL FUNDS |
2024 Unrestricted fund £ 2,649,111 23,491 176,942 200,433 (53,874) 146,559 2,795,670 2,795,670 2,795,670 2,795,670 |
2023 Total funds £ 2,625,562 8,255 178,560 |
|---|---|---|
| 186,815 (51,035) |
||
| 135,780 | ||
| 2,761,342 | ||
| 2,761,342 | ||
| 2,761,342 | ||
| 2,761,342 |
The financial statements were approved by the Board of Trustees and authorised for issue on 20 December 2024 and were signed on its behalf by:
M S Wainwright - Trustee
The notes form part of these financial statements
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The Scurrah Wainwright Charity
Notes to the Financial Statements for the Year Ended 5 April 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. 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.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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.
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 is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| Other fixed asset invest - FII Other fixed asset inv - UnFII Deposit account interest Interest from investments |
2024 £ 46,562 6,232 222 19,266 72,282 |
2023 £ 53,472 7,268 41 15,361 |
|---|---|---|
| 76,142 |
continued...
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The Scurrah Wainwright Charity
Notes to the Financial Statements - continued for the Year Ended 5 April 2024
3. RAISING FUNDS
Investment management costs
| Investment management costs | ||||
|---|---|---|---|---|
| Portfolio management Interest payable and similar charges GRANTS PAYABLE Grants to charitable activities with emphasis on social reform |
2024 £ 21,998 75 22,073 2024 £ 158,957 |
2023 £ 22,225 - 22,225 2023 £ 172,656 |
||
| The total grants paid to institutions during the year was as follows: | ||||
| 2024 | 2023 | |||
| £ | £ | |||
| UK national projects | 19,150 | 31,125 | ||
| North of England | 128,207 | 127,531 | ||
| Zimbabwe & South Africa | 11,600 | 14,000 | ||
| 158,957 | 172,656 | |||
4. GRANTS PAYABLE
continued...
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The Scurrah Wainwright Charity
Notes to the Financial Statements - continued for the Year Ended 5 April 2024
4. GRANTS PAYABLE - continued
| North of England |
United Kingdom |
Zimbabwe & South Africa |
|
|---|---|---|---|
| Active Education Alternative Provision CIC | 5,000 | ||
| Ash (Yorkshire CIC) | 4,500 | ||
| Aspire Creating Communities | 4,500 | ||
| BEACON - Bradford Ecumenical Asylum Concern | 5,000 | ||
| Big Futures Foundation | 5,000 | ||
| Bradford City of Sanctuary CIO | 4,000 | ||
| Cat's Cradle CIC | 4,500 | ||
| City of Sanctuary Sheffield | 4,000 | ||
| Cruse Bereavement Support | 3,000 | ||
| Demilitarise Education Ltd | 5,000 | ||
| Dewsbury and District League of Friendships (Howlands) | 4,000 | ||
| Dodnaze Community Association | 4,000 | ||
| Down Syndrome Training and Support Services Ltd | 4,380 | ||
| Family Voice Sheffield | 5,000 | ||
| Fun Filled Days CIC | 2,000 | ||
| Generate | 4,800 | ||
| Heritage Crew CIC | 4,000 | ||
| Inspire Women, Men and Children | 5,000 | ||
| Interplay Theatre Trust | 3,000 | ||
| Meeting Point Cafe | 2,500 | ||
| Menfulness CIO | 5,000 | ||
| Music for the Many | 4,000 | ||
| Project Colt | 4,500 | ||
| Restore | 5,000 | ||
| Seaglass Collective | 4,000 | ||
| Shine21 | 4,500 | ||
| Smart Works | 4,562 | ||
| Spotlight Faith Group | 4,085 | ||
| St Mary's Parish Church | 3,000 | ||
| Taking Baby Steps | 2,500 | ||
| Tang Hall Community Centre | 3,500 | ||
| The Centre for Health and the Public Interest | 5,000 | ||
| The Green Team | 4,000 | ||
| The ME (Managing Emotions) Project | 5,000 | ||
| Today for Tomorrow | 3,000 | ||
| Welcome House | 3,000 | ||
| Women In Supported Housing CIC | 1,880 | ||
| Yorkshire Sound Women Network CIC | 2,000 | ||
| Zimconserve | 100 | ||
| Zimkids | 3,500 | ||
| Coaches Across Continents | 3,650 | ||
| Total | 128,207 | 19,150 | 11,600 |
continued...
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The Scurrah Wainwright Charity
Notes to the Financial Statements - continued for the Year Ended 5 April 2024
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 5 April 2024 nor for the year ended 5 April 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 5 April 2024 nor for the year ended 5 April 2023.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 28,750 |
| Investment income | 76,142 |
| Total | 104,892 |
| EXPENDITURE ON | |
| Raising funds | 22,225 |
| Charitable activities | |
| Grants to charitable activities with emphasis | |
| on social reform | 172,656 |
| Other | 9,944 |
| Total | 204,825 |
| Net gains/(losses) on investments | (106,982) |
| NET INCOME/(EXPENDITURE) | (206,915) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 2,968,257 |
| TOTAL FUNDS CARRIED FORWARD | 2,761,342 |
continued...
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The Scurrah Wainwright Charity
Notes to the Financial Statements - continued for the Year Ended 5 April 2024
7. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| MARKET VALUE At 6 April 2023 Additions Disposals Revaluations At 5 April 2024 NET BOOK VALUE At 5 April 2024 At 5 April 2023 |
Listed investments £ 2,625,562 527,750 (566,016) 61,815 2,649,111 2,649,111 2,625,562 |
| Analysis of investments between UK and other: 2024 |
2023 |
| UK investments 1,653,234 |
1,709,792 |
| Foreign investments 995,877 |
915,770 |
| Total investments 2,649,111 |
2,625,562 |
| Material investments held at the year end | 2024 | 2024 | 2023 | 2023 |
|---|---|---|---|---|
| Cost | Value | Cost | Value | |
| Apple Inc Com | 17,774 | 121,019 | 17,774 | 118,403 |
| Artemis Corporate Bond | 81,236 | 73,464 | 81,236 | 71,952 |
| Artemis Income | 67,338 | 70,413 | 67,338 | 65,853 |
| Astrazeneca | 59,252 | 106,200 | 59,252 | 115,940 |
| Ballie Gifford Japanese | 82,536 | 71,299 | 81,495 | 66,785 |
| BH Macro | 75,063 | 70,140 | 75,063 | 89,250 |
| Black rock Sustnbl | 68,837 | 66,677 | 0 | 0 |
| BP | 60,074 | 63,769 | 60,074 | 67,246 |
| Diageo | 43,849 | 76,937 | 43,849 | 99,063 |
| Findlay Park American | 71,149 | 72,202 | 0 | 0 |
| Guiness Global Equity | 71,844 | 73,341 | 0 | 0 |
| Leeds Group PLC | 654,897 | 37,344 | 654,897 | 42,437 |
| Man GLG Alpha Steel | 66,204 | 76,886 | 66,002 | 71,207 |
| Microsoft Corp | 29,412 | 101,195 | 29,412 | 68,536 |
| Royal Dutch Shell | 58,252 | 91,740 | 70,608 | 94,520 |
| Schroder Us Equity | 75,631 | 110,640 | 75,631 | 94,950 |
| Smith (DS) | 61,762 | 73,800 | 61,762 | 55,350 |
| UK (GOVT OF) 0.25% | 66,724 | 69,502 | 0 | 0 |
| Unilever | 24,786 | 69,253 | 24,786 | 77,261 |
| Visa Inc Com | 29,403 | 87,905 | 29,403 | 73,315 |
| Wisdomtree Metals Physical | 61,930 | 86,190 | 61,930 | 76,093 |
continued...
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The Scurrah Wainwright Charity
Notes to the Financial Statements - continued for the Year Ended 5 April 2024
7. FIXED ASSET INVESTMENTS - continued
Cost or valuation at 5 April 2024 is represented by:
| Valuation in 2015 Valuation in 2016 Valuation in 2017 Valuation in 2018 Valuation in 2019 Valuation in 2020 Valuation in 2021 Valuation in 2022 Valuation in 2023 Valuation in 2024 Cost 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Andrew Wainwright Reform Trust Tax Prepayments and accrued income 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 10) Other creditors 10. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank overdrafts |
2024 £ 127 22,150 1,214 23,491 2024 £ 44,450 9,424 53,874 2024 £ 44,450 |
Listed investments £ (298,566) (182,485) 236,428 (11,471) 67,412 (567,817) 599,588 143,798 (200,707) 61,815 2,801,116 2,649,111 2023 £ 46 6,530 1,679 8,255 2023 £ 41,690 9,345 51,035 2023 £ 41,690 |
|---|---|---|
continued...
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The Scurrah Wainwright Charity
Notes to the Financial Statements - continued for the Year Ended 5 April 2024
11. MOVEMENT IN FUNDS
| At 6.4.23 £ Unrestricted funds General fund 2,761,342 TOTAL FUNDS 2,761,342 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 151,033 (192,607) TOTAL FUNDS 151,033 (192,607) Comparatives for movement in funds At 6.4.22 £ Unrestricted funds General fund 2,968,257 TOTAL FUNDS 2,968,257 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 104,892 (204,825) TOTAL FUNDS 104,892 (204,825) |
Net movement in funds £ 34,328 34,328 Gains and losses £ 75,902 75,902 Net movement in funds £ (206,915) (206,915) Gains and losses £ (106,982) (106,982) |
At 5.4.24 £ 2,795,670 2,795,670 Movement in funds £ 34,328 34,328 At 5.4.23 £ 2,761,342 2,761,342 Movement in funds £ (206,915) (206,915) |
|
|---|---|---|---|
continued...
13
The Scurrah Wainwright Charity
Notes to the Financial Statements - continued for the Year Ended 5 April 2024
11. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 6.4.22 £ 2,968,257 2,968,257 |
Net movement in funds £ (172,587) (172,587) |
At 5.4.24 £ 2,795,670 |
|---|---|---|---|
| 2,795,670 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 255,925 255,925 |
Resources expended £ (397,432) (397,432) |
Gains and Movement losses in funds £ £ (31,080) (172,587) (31,080) (172,587) |
|---|---|---|---|
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 5 April 2024.
13. ULTIMATE CONTROLLING PARTY
The charity is controlled jointly by its trustees.
14. GAINS AND LOSSES ON INVESTMENT ASSETS
There are a total gains of £75,902 shown on the face of the Statement of Financial Activities. An analysis of these gains/(losses) is shown below.
| An analysis of these gains/(losses) is shown below. | |||
|---|---|---|---|
| Realised | Unrealised | Total | |
| Fixed asset investments | 14,087 | 61,815 | 75,902 |
| Investment property | - | - | - |
| Total | 14,087 | 61,815 | 75,902 |
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The Scurrah Wainwright Charity
| Detailed Statement of Financial Activities for the Year Ended 5 April 2024 INCOME AND ENDOWMENTS Donations and legacies Donations Investment income Other fixed asset invest - FII Other fixed asset inv - UnFII Deposit account interest Interest from investments Total incoming resources EXPENDITURE Investment management costs Portfolio management Interest payable Charitable activities Grants to institutions Support costs Management Postage and stationery Sundries Secretarial services Finance Bank charges Governance costs Accountancy and legal fees Total resources expended Net expenditure before gains and losses Realised recognised gains and losses Realised gains/(losses) on fixed asset investments Net income/(expenditure) |
2024 £ 78,751 46,562 6,232 222 19,266 72,282 151,033 21,998 75 22,073 158,957 134 134 6,384 6,652 125 4,800 192,607 (41,574) 75,902 34,328 |
2023 £ 28,750 53,472 7,268 41 15,361 76,142 104,892 22,225 - 22,225 172,656 332 94 5,665 6,091 133 3,720 204,825 (99,933) 93,725 (6,208) |
|---|---|---|
This page does not form part of the statutory financial statements
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