Charity registration number: 1005471
THE BEAUMONT TRUST TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
THOMPSON&:Co) Accauntants & Business Cansultants
The Beaumont Trust Contents
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|Trustees'|Report|1—3|
|Independent|Examiner's|Report|4|
|Statement|of Financial|Activities|5|
|Statement|of Financial|Position|6|
|Notes|to|the|Financial|Statements|7—10|
|The|following pages|do|not|form|part of|the|statutory|accounts:|
|Detailed|Statement|of Financial|Activities|11|
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The Beaumont Trust Trustees' Report For The Year Ended 5 April 2025
The trustees present their report and the financial statements for the year ended 5 April 2025.
Objectives and Activities
Aims and Objectives
The objects of the Trust are set out in the Trust Deed. The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the trust’s aims and objectives and in planning future activities and in making grants. The Trust typically carries out these objects by providing grants to individuals and organisations benefiting the city of Hereford in accordance with the objects set out in the Trust Deed. The Trust invites applications for grants from individuals, institutions and other bodies which meet the objects of the trust as set out more fully in the Trust Deed.
Significant Activities
The object of the charity is to benefit the people of the city of Hereford in such ways as are exclusively charitable and in particular (but without limitation to the generality of the foregoing) by: 1. preserving bettering and maintaining public spaces within the city of Hereford including (but without limitation) high town and the church Museum and Gardens 2. the provision of the means for public recreation including purchasing preserving bettering and maintaining land for public recreational purposes in and around the city of Hereford 3. purchasing preserving bettering and maintaining land of natural beauty in and around the city of Hereford 4. the provision of facilities for and the support of public museums and libraries in the city of Hereford and the promotion of learning and the arts in the city of Hereford. New trustees are appointed by the existing trustees in accordance with the terms of the Trust Deed. The Trust Deed envisages that there will be at least three trustees, although at present there are only two. The trustees give of their time freely and no trustee remuneration was paid in the year. Details of any trustee expenses and related party transactions are disclosed in the accounts. The trust fund to which the Trust Deed relates includes freehold premises known as 21 and 21a Commercial Street, Hereford, which property is registered at HM land Registry under title number HW49850. That property is held subject to the terms of the Trust set out in the Trust Deed. The Trust Deed includes an express power for the trustees to sell that property and invest the proceeds in or on any investments authorised by the Deed with power from time to time to vary such investments and to pay or apply the net income of the trust fund or any part of the capital at their absolute discretion in furtherance of the objects of the charity set out more particularly in the Trust Deed.
The freehold premises in commercial Hereford comprise a ground floor restaurant and offices on the 1st and 2nd floor. The ground floor restaurant (with basement) is let out to tenants. The tenants who were previously in occupation of the 1st and 2nd floor office premises vacated in October 2024. At the time of the preparation of this report, no new tenants have yet been granted a lease of the Ist and 2nd floor premises. The Trust holds other financial investments which are invested with Aviva in accordance with appropriate professional investment advice.
Structure, Governance and Management
Governing Document
The Trust is a registered charity, charity number 1005471, and is constituted as an unincorporated charity under a Trust Deed dated 14 October 1991 (“the Trust Deed”). The Trust was established by way of an initial gift from the estate of the late Sam Beaumont, who had made a significant and distinguished contribution to the city of Hereford during his lifetime.
Risk management
The trustees have considered the major risks to which the charity is exposed and review those risks on a regular basis. They consider the variability of investment returns on funds held with Aviva and take professional advice from a qualified financial adviser. Additionally, they take advice from chartered surveyors as to the premises in Commercial Street, Hereford, and they have the benefit of advice and support from the clerk to the Trust who is a qualified solicitor.
Reference and Administrative Details
Trustees
Mr Nicholas Previte - Trustee Mrs Mary Beaumont - Chair
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The Beaumont Trust Trustees' Report (continued) For The Year Ended 5 April 2025
Charity Number
1005471
Principal Address
14 Broad Street Hereford Herefordshire HR4 9AP
Independent Examiner
Thompson & Co Thompson & Co SME House Holme Lacy Industrial Estate Hereford HR2 6DR
Page 2
The Beaumont Trust Trustees' Report (continued) For The Year Ended 5 April 2025
The trustees’ report was approved by the board of trustees and signed on its behalf by:
y bs
Mr Nicholas Previte
Trustee
03/12/2025
Page 3
The Beaumont Trust Independent Examiner's Report to the Trustees of The Beaumont Trust For The Year Ended 5 April 2025
I report to the trustees on my examination of the accounts of The Beaumont Trust (the Trust) for the year ended 5 April 2025.
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 2011 Act and in carrying out my examination, I have followed the 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:
1, 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 contents 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.
Thompson & Co
03/12/2025
SME House
Holme Lacy Industrial Estate Hereford HR2 6DR
Page 4
The Beaumont Trust Statement of Financial Activities For The Year Ended 5 April 2025
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|---|---|---|---|---|---|
|2025|2024|
|Unrestricted|Unrestricted|
|funds|funds|
|Notes|£|£|
|INCOME AND|ENDOWMENTS|FROM:|
|Investments|3|23,152|26,682|
|Other|4|3,711|3,821|
|26,863|30,503|
|EXPENDITURE|ON:|
|Raising|funds|5|-|(156)|
|Charitable|activities:|5|
|Investment management|costs|(544)|(493)|
|Governance|costs|(10,692)|(3,132)|
|Other resources expended|(145)|-|
|Grant making|(12,700)|(19,000)|
|Support|costs|(2,558)|(3,349)|
|(26,639)|(26,130)|
|NET INCOME|224|4,373|
|Gains|on revaluation|of fixed|assets|310|2,203|
|NET MOVEMENT|IN FUNDS|534|6,576|
|RECONCILIATION|OF|FUNDS:|
|Total|funds|brought|forward|130,967|124,391|
|TOTAL FUNDS CARRIED FORWARD|14|131,501|130,967|
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The notes on pages 7 to 10 form part of these financial statements.
Page 5
The Beaumont Trust Statement of Financial Position As At 5 April 2025
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|---|---|---|---|---|---|---|
|2025|2024|
|Unrestricted|Total|funds|
|funds|
|Notes|£|£|
|FIXED|ASSETS|
|Tangible|Assets|10|47,206|47,206|
|47,206|47,206|
|CURRENT|ASSETS|
|Debtors|11|1,940|2,001|
|Investments|12|74,860|71,384|
|Cash|at bank|and|in hand|10,962|12,943|
|87,762|86,328|
|Creditors:|Amounts|Falling Due Within|One Year|13|(3,467)|(2,567)|
|NET CURRENT ASSETS|(LIABILITIES)|84,295|83,761|
|TOTAL ASSETS|LESS CURRENT LIABILITIES|131,501|130,967|
|NET ASSETS|131,501|130,967|
|FUNDS|OF THE|CHARITY|
|Unrestricted|Funds|131,501|130,967|
|TOTAL FUNDS|14|131,501|130,967|
|On|behalf of the|board|
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Mr Nicholas Previte Trustee 03/12/2025
The notes on pages 7 to 10 form part of these financial statements.
Page 6
The Beaumont Trust Notes to the Financial Statements For The Year Ended 5 April 2025 eeee
1. General Information
The Beaumont Trust is a charitable incorporated organisation registered with the Charity Commission, registered charity number 1005471. The principal address is 14 Broad Street, Hereford, Herefordshire, HR4 9AP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements 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 charity is a Public Benefit Entity as defined by FRS 102.
2.2. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
- Investment Income
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Unrestricted | Unrestricted | ||||
| funds | funds | ||||
| £ | £ | ||||
| Bank interest receivable | 3 | 3 | |||
| Rents receivedfrominvestment properties | 23,149 | 26,679 | |||
| 23152, | 26,682 | ||||
| 4. | Other Income | ||||
| 2025 | 2024 | ||||
| Unrestricted | Unrestricted | ||||
| funds | funds | ||||
| £ | £ | ||||
| Dividends | Dividends received | 3,711 | 3,821 | ||
| 5. | Analysis ofExpenditure | ||||
| 2025 | |||||
| Grant funding | of | ||||
| activities | Support costs | ||||
| (see note 6) | (see note 7) | Total | |||
| £ | £ | £ | |||
| Investment | Investmentmanagement costs | - | 544 | 544 | |
| Governance | Governance costs | - | 10,692 | 10,692 | |
| Other | Other resources expended | - | 145 | 145 | |
| Grant | Grantmaking | 12,700 | - | 12,700 | |
| Support | Support costs | - | 2,558 | 2,558 | |
| 12,700 | 13,939 | 26,639 |
4. Other Income
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Dividends received
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5. Analysis of Expenditure
| Investmentmanagement costs |
|---|
| Governance costs |
| Other resources expended |
| Grantmaking |
| Supportcosts |
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The Beaumont Trust Notes to the Financial Statements (continued) For The Year Ended 5 April 2025
| 2024 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Grant funding | of | |||||||||
| activities | Supportcosts | |||||||||
| (see note | 6) | (see note | 7) | Total | ||||||
| £ | £ | £ | ||||||||
| Raising funds | - | 156 | 156 | |||||||
| Investment managementcosts | - | 493 | 493 | |||||||
| Governance costs | - | 3,132 | 3,132 | |||||||
| Grantmaking | 19,000 | - | 19,000 | |||||||
| Support costs | - | 3,349 | 3,349 | |||||||
| 19,000 | 7,130 | 26,130 | ||||||||
| 6. | Grants Payable | |||||||||
| 2025 | 2024 | |||||||||
| Grants | to | Grants | to | |||||||
| Institutions | Institutions | |||||||||
| £ | £ | |||||||||
| Grantmaking | 12,700 | 19,000 | ||||||||
| 7. | Support Costs | |||||||||
| 2025 | ||||||||||
| Investment | ||||||||||
| management costs |
Governance costs |
Other resources expended |
Support costs | Total | ||||||
| £ | £ | £ | £ | £ | ||||||
| General administration: | ||||||||||
| Insurance | - | - | = | 2,558 | 2,558 | |||||
| Independent examiner's fees | - | 900 | - | - | 900 | |||||
| Legal fees | - | 9,792 | - | = | 9,792 | |||||
| Avivacharges | 544 | - | - | ; | 544 | |||||
| Sundry expenses | - | - | 145 | - | 145 | |||||
| 544 | 10,692 | 145 | 2,558 | 13,939 | ||||||
| 2024 | ||||||||||
| Investment | ||||||||||
| management | Governance | |||||||||
| Raising funds | costs | costs | Support costs | Total | ||||||
| £ | £ | £ | £ | £ | ||||||
| Premises expenses: | ||||||||||
| Light andheat | 2 | - | - | . | 2 | |||||
| Repairs andmaintenance | 154 | - | - | = | 154 | |||||
| General administration: | ||||||||||
| Insurance | - | - | - | 3,349 | 3,349 | |||||
| Independent examiner's fees | - | - | 900 | - | 900 | |||||
| Legal fees | - | - | 2,232 | - | 2,232 | |||||
| Aviva charges | - | 493 | - | - | 493 | |||||
| 156 | 493 | 3,132 | 3,349 | 7,130 |
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The Beaumont Trust Notes to the Financial Statements (continued) For The Year Ended 5 April 2025
- Independent Examiner's Remuneration
| 8. | Independent Examiner's Remuneration | |||
|---|---|---|---|---|
| 2025 | 2024 | |||
| £ | £ | |||
| Independent examination ofthe financial statements | 900 | 900 | ||
| Other assurance services | = | = | ||
| Tax advisory services | = | - | ||
| Other financial services | - | z | ||
| 900 | 900 | |||
| 9. | Average Number ofEmployees | |||
| Average number ofemployees during theyearwas: NIL (2024: NIL) | ||||
| 10. | Tangible Assets | |||
| Land | & | |||
| Property | ||||
| Freehold | ||||
| £ | ||||
| Cost | ||||
| As | at 6 April 2024 | 47,206 | ||
| As | at 5 April 2025 | 47,206 | ||
| Net Book Value | ||||
| As | at 5 April 2025 | 47,206 | ||
| As | at 6 April 2024 | 47,206 | ||
| 11. | Debtors | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Duewithin one year | ||||
| Otherdebtors | 1,940 | 2,001 | ||
| 12. | Current Asset Investments | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Unlistedinvestments | 74,860 | 71,384 | ||
| 13. | Creditors: Amounts FallingDue Within OneYear | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Trade creditors | 900 | « | ||
| Accruals and deferredincome | 2,567 | 2,567 | ||
| 3,467 | 2,567 |
Page 9
The Beaumont Trust Notes to the Financial Statements (continued) For The Year Ended 5 April 2025
- Movement in Funds
| As at 6April | As at 5April | |||||
|---|---|---|---|---|---|---|
| 2024 | Income | Expenditure | —_Gainsand | losses | 2025 | |
| £ | £ | £ | £ | £ | ||
| Unrestricted funds | ||||||
| General: | ||||||
| General unrestricted fund | 130,967 | 26,863 | (26,639) | 310 | 131,501 | |
| Totalfunds | 130,967 | 26,863 | (26,639) | 310 | 131,501 | |
| As at 6 April | As at 5 April | |||||
| 2023 | Income | Expenditure | Gains and | losses | 2024 | |
| £ | £ | £ | £ | £ | ||
| Unrestricted funds | ||||||
| General: | ||||||
| General unrestrictedfund | 124,391 | 30,503 | (26,130) | 2,203 | 130,967 | |
| Totalfunds | 124,391 | 30,503 | (26,130) | 2,203 | 130,967 |
15. Transactions with Trustees
None of the trustees received any remuneration or any other benefits from an employment with the charity or a related entity during the current or previous year.
No trustee expenses have been incurred.
- Related Party Disclosures
There have been no related party transactions in the reporting period that require disclosure.
Page 10
The Beaumont Trust Detailed Statement of Financial Activities For The Year Ended 5 April 2025
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||||||||
|---|---|---|---|---|---|---|
|2025|2024|
|Total|Total|
|funds|funds|
|£|£|
|INCOME AND|ENDOWMENTS|FROM:|
|Investments|
|Rental|income|from|investment|property|23,149|26,679|
|Bank|interest|receivable|3|3|
|23,152|26,682|
|Other|
|Dividends|received|3711|3,821|
|3711|3,821|
|26,863|30,503|
|EXPENDITURE|ON:|
|Raising|funds|
|Light|and heat|-|(2)|
|Repairs|and maintenance|:|(154)|
|-|(156)|
|Charitable|Activities:|
|Investment|management|costs|
|Aviva charges|(544)|(493)|
|(544)|(493)|
|Governance|costs|
|Independent|examiner's|fees|(900)|(900)|
|Legal|fees|(9,792)|(2,232)|
|(10,692)|(3,132)|
|Other|resources|expended|
|Sundry|expenses|(145)|-|
|(145)|-|
|Grant making|
|Payments|to|charities|(12,700)|(19,000)|
|(12,700)|(19,000)|
|Support|costs|
|Insurance|(2,558)|(3,349)|
|(2,558)|(3,349)|
|(26,639)|(26,130)|
|NET INCOME|224|4,373|
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