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2022-07-31-accounts

Registered charity number: 1009980

THE OLD WELLINGTONIAN CHARITABLE TRUST FUND

ACCOUNTS

FOR THE YEAR ENDED 31[ST] July 2022

THE OLD WELLINGTONIAN SOCIETY CHARITABLE TRUST ANNUAL REPORT 2021-22

AIMS & OBJECTS

The trustees of the Old Wellingtonian Society Charitable Trust present their annual report and accounts for the year ended 31 July 2022. The accounts comply with current statutory requirements, the Trust Deed and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Our Aims

The Trust operates under a Trust Deed dated 24[th] February 1992, amended by a Supplemental Trust Deed dated 23 January 2014, which includes regulations for the appointment of trustees.

Our aims are to provide charitable assistance in support of both Wellington College’s educational objects and the Old Wellingtonian Society’s object of providing a ‘whole-life community’ for the alumni of Wellington College.

The trustees also administer the Herbert Old Wellingtonian Trust and J L Bevir Memorial Fund, which have been combined into the Old Wellingtonian Society Charitable Trust. The identities of these trusts have been retained for the award of grants, scholarships and bursaries but the assets have been pooled.

Our Objects

Wellington College aims to provide a world class education to boys and girls aged 13 to 18. The Old Wellingtonian Charitable Trust is the charitable component of the Old Wellingtonian Society which is the school’s alumni organisation. The Trust exists to provide support for current and past pupils of the School.

The objects of the Trust are such charitable purposes, including the award of school academic, sports and other prizes, and educational grants, awards or bursaries, as the Old

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Wellingtonian Executive Board shall from time to time direct and, in the absence of such direction, trustees shall at their discretion decide.

The trustees have given careful consideration to the Charity Commission’s general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education and on fee-charging.

Our key objectives of the year, following reviews in the previous year, included:

MANAGEMENT

Ethos

The Trust is a charitable trust that seeks to benefit the public through the pursuit of its stated aims and objects.

The Trust’s ethos, strategy and policies dovetail seamlessly into those of both the Society and the School. These are based on the promotion of excellence among past, current and future pupils of the School.

The Trust is bound by an ethos of respect for diversity and equal opportunities.

Future Plans

Since the Old Wellingtonian Society, which hitherto has been an independent and unincorporated Society operating under the governance of its management board, has merged formally into Wellington College the Old Wellingtonian Charitable Trust has monitored outcomes of this change and is ready to review its charitable activities to ensure that these remain coherent, relevant and affordable.

The Old Wellingtonian Charitable Trust will remain separate and remain an independent charity operating under the governance of its Trust Deed and trustees.

Our Finances

The financial statements show gross income of £40,688, compared with the previous year’s income of £38,696.

Net incoming resources for the year are shown as £11,936 compared with the previous year’s £14,606. Grants made amounted to £14,937 (previous year - £15,694).

Structure, Governance and Management

The trustees are responsible for the management and control of the Trust.

Requests for awards are submitted to the Secretary of the Old Wellingtonian Society, who also, ex officio , acts as Secretary to the Old Wellingtonian Society Charitable Trust. Requests are forwarded to the trustees for consideration and decision.

Awards for scholarships and bursaries are made on a basis consistent with the School’s policy for such awards. Scholarship awards are usually capped at 10% of school fees while larger bursaries may be awarded on the basis of means testing conducted by the school.

All trustees give their time voluntarily and no remuneration or expenses were paid in the year. No trustee or person connected with a trustee received any benefit from awards made to pupils.

Other Relationships

The chairman of trustees is a former governor of Wellington College and is a current VicePresident of the Old Wellingtonian Society. The trustees include the current President of the Old Wellingtonian Society and the Master of Wellington College. This enables the Trust to monitor the strategies, policies and future plans of the organisations it supports and so ensures continued relevance.

Risk Management

The trustees are responsible for overseeing the risks faced by the Trust.

The key risk lies in a reduction of income leading to an inability to meet the costs of grants, scholarships and bursaries that have been made. This risk is currently assessed as being of potentially high impact but low likelihood, but is reflected as the major factor of the Trust’s reserves policy.

The reserves policy depends on forecasting liabilities as each new award is made and ensuring that aggregated liabilities remain within forecast income over the timescale of awards.

TRUSTEES

Trustee Recruitment and Training

No trustees retired or were appointed during the year.

Trustees

Mr Charles Baker – Chair Brig (Retd) David Creswell (deceased 22.03.2022) Mr Callum Stewart Mr James Dahl Mrs Fiona Haywood (appointed April 2021) Mrs Alison Scott (appointed April 2021)

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Charity Contact Details

Contact:

The Secretary of the Old Wellingtonian Society (Secretary of the Old Wellingtonian Charitable Trust):

Address:

The Old Wellingtonian Society

c/o The Wellington Community Office Wellington College Crowthorne Berkshire RG45 7PU

Website:www.owsociety.co.uk

Charity Number:1009980

19[th] April 2023

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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES ON THE UNAUDITED FINANCIAL STATEMENTS OF THE OLD WELLINGTONIAN CHARITABLE TRUST I report on the financial statements of the charity for the year ended 31 July 2021

Respective responsibilities of trustees and examiner

As described on page 1, the trustees are responsible for the preparation of the financial statements. The trustees consider that an audit is not required this year. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility:

to examine the financial statements under section 43 of the Charities Act 1993;

to follow the procedures laid down in the general Directions given by the Charity Commissioner under the Charities Act; and

to state whether particular matters have come to my attention.

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. 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 includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken to not provide 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 come to my attention:

have not been met; or

P Richardson

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THE OLD WELLINGTONIAN SOCIETY CHARITABLE TRUST INCORPORATING THE BEVIR MEMORIAL FUND AND THE HERBERT OLD WELLINGTONIAN STATEMENT OF FINANCIAL ACTIVITIES FOR THE 12 MONTHS ENDED 31st JULY 2022

Income
Donations
Note 1
Investment income
Other
Total Income
Expenditure
Direct Charitable Expenditure
- Grants
Note 2
- Speech day prizes
- Fundraising costs
Management & Administration
- Bank charges
- Investment managers' charges
Total Expenditure
Net Income/(Expenditure) for the year
OTHER RECOGNISED GAINS AND LOSSES
Investment gains/(losses)
NET MOVEMENT IN FUNDS
Total Funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted Funds
2022
£
2,015
38,673
-
40,688
14,937
4,538
-
104
9,173
28,752
11,936

70,350
-
58,414
-
957,240
898,826		 Unrestricted Funds
2021
£
3,650
35,046
-
38,696
15,694
854
-
205
7,337
24,090
14,606
126,159
140,765
816,475
957,240

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THE OLD WELLINGTONIAN SOCIETY CHARITABLE TRUST INCORPORATING THE BEVIR MEMORIAL FUND AND THE HERBERT OLD WELLINGTONIAN BALANCE SHEET AS AT 31st JULY 2022

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2022 2021
£ £
INVESTMENTS 846,065 925,506
CURRENT ASSETS
Cash at bank 52,761 31,734
52,761 31,734
Net Assets 898,826 957,240
Unrestricted Funds 898,826 957,240
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Date:-
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19/04/2023

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THE OLD WELLINGTONIAN SOCIETY CHARITABLE TRUST INCORPORATING THE BEVIR MEMORIAL FUND AND THE HERBERT OLD WELLINGTONIAN NOTES TO THE ACCOUNTS FOR THE 12 MONTHS ENDED 31st JULY 2022

1Donations received
OW CT
JL Bevir Memorial Fund
Herbert OW Trust
2Donations etc made
OW CT
JL Bevir Memorial Fund
Herbert OW Trust		 2022
£
2,015
-
-
2,015
2022
£
1,200
4,500
9,237
14,937		 2021
£
3,650
-
-
3,650
2021
£
5,757
-
9,937
15,694

3 Incorporated charities

In 2013 the JL Bevir Memorial Fund and the Herbert Old Wellingtonian Charitable Trust were united into the Old Wellingtonian Charitable Trust, with the approval of the Charities Commission. The identities have been retained for the award of grants, scholarships and bursaries but the assets have been pooled.

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