ANNUAL TRUSTEES REPORT OF THE JUDITH BARTRAM ANTINGHAM TRUST FOR THE YEAR ENDING 31°t MARCH 2024
Trustees
J R Tulley Chair of Trustees (appointed 2"! October 2014) K M Tulley (reappointed 12" November 2022) S C Fordington Fowkes (appointed 4" June 2019) The Revd S J M Reading (appointed 26" November 2019) V Fordington Fowkes (appointed 26" February 2020) G A Roper (appointed 26" February 2020) D O'Neill (appointed 10" August 2022) J O’Neill (appointed 10" August 2022)
Registered Address
The Registered address of the Charity for administration purposes is Bells Farm, Elderton Lane, Antingham, North Walsham, Norfolk, NR28 ONR.
Structure, Governance and Management
The Judith Bartram Antingham Trust is a Registered Charity No 1016979 and is governed by a deed of Trust dated 22" January 1993.The objects and aims of the Trust are contained within the said Trust Deed and are broadly defined as that the Capital and Income shall be held by the Trustees upon Trust to apply the same and any part or parts thereof for general Church purposes in the Parish of Antingham, Norfolk. The Trust is not affiliated to any other Charity or Trust and is only restricted in the way it may act as per the said Trust Deed. The Trust does not actively fundraise and seeks to continue its work through the careful stewardship of existing resources. New trustees are appointed by the existing trustees and serve for 5 years after which the may put themselves forward for reappointment’. The Trust deed provides for a minimum of 5 trustees to a maximum of 8 trustees.
At its quarterly meetings, the trustees agree the broad strategy and areas of activity for the Trust in addition to its approach to investment, reserves, risk management and performance.
Risk Management
The trust has adopted a moderate attitude to risk. The aim is for the Trust to provide rates of growth in excess of inflation over the long term which are consistent with moderate levels of risk. The Trust seeks to adopt an ethical approach to investment where possible.
Objectives and Activities
The object of the Trust is to support general church purposes within the Parish of Antingham. It largely achieves this through the grant of funds to Antingham Parochial Church Council in furtherance of its work in support of St Mary’s Church. It is also open to applications from other individuals or organisations that
IR Tulley and the Revd S J M Reading are Trustees by virtue of their appointments as Churchwarden and Rector respectively. They remain as Trustees for the duration of their appointments.
accord with the Trust’s purpose. In order to achieve this, the Trust’s long term objectives are to:
Arrange the Trust’s finances in order to produce a regular income of between £15,000 and £20,000 per annum. Invest the Trust funds in accordance with the provisions laid down by the trust deed and adopt a broad ethical stance to investing.
Financial review
The Trust’s work is entirely reliant on income and investment returns from its endowments. The Trust reports that the attached accounts show an excess of income of £2,526 over expenditure in the period ending 31° March 2024.
Overall income was £26,726, an increase of £7,854 over the previous year. Expenditure was £24 200, an increase of £3,500.
The value of the assets and investments held by the trust, and reflected in the balance sheet, increased by 0.7% (as opposed to a decrease of 7.7% in the previous year).
At its meeting in November 2023 the Trustees agreed to move the Trust’s platform provider from Fidelity to Quilter through an in specie transfer. This has been successfully concluded.
The Trust accepts that the financial statements, presented by the Trust’s Clerk as of 31° March 2024, are a true and fair reflection of the trusts financial position at that date. We have used Mr Kevin Wardle as our independent financial examiner on this occasion and his report is attached to this document.
The trustees further report that, throughout the reporting period, we have continued to employ Ms Michaela Bond, of Fairey Associates, as our independent financial advisor. She continues to monitor and advise us as to our risk strategy and investment policy in light of our decisions and needs.
Trustees Responsibilities
The trustees are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards. The financial statements were prepared by our Clerk Mrs Lisa Catling. All trustees give of their time freely and no trustee remuneration was paid in the year. Furthermore, the trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the Trust and enable them to ascertain to ensure that the financial statements comply with relevant legislation and the provision of the trust deed. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
rf
We as current Trustees sign this report as being correct and in accordance with the the review of accounts at the committee meeting held on the Qo™ day of Auaus) 2024
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7
Signed _ aa ;
James and dated this QO day of |BUG eST 2024
Robert Tulley si ena a tk Las a mcm eoe
Katherine Mary Tulley 7 Kettidbhey bee eeeues
Stephen Fordington MO‘are
Vijaya Fordington XM bos texAx - ty.foe .
Rev Sian Reading Sjelfe. ff ;
Guy Roper EC (=
Duncan Anthony O’Neill 2ff Bae crosee
. . é
Juliet Ann O’Neill ad fies OoN Cutt _
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JUDITH BARTRAM ANTINGHAM TRUST
Registered Chaity No:1016979
BALANCE SHEET AS AT YEAR END 31st MARCH 2024
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31.03.23 31.03.24
21,665] Barclays Bank Current A/C 14,353.82
0|Cambridge & Counties 4.21% 65,000.00
57,074|Hampshire Trust Bank 0.85% 0.00
61,297|United Trust Bank 3.10% 63,207.88
110,816] M & G Investment (£125,000 at cost ) 108,791.38
361,067] Fidelity /Quilter (£292,000 at cost ) 364,964.06
611,919 616,317.14
662,951|Balance Brought Forward 1st April 2023 611,919.54
-1,828]Add excess Income over Expenditure 2,526.26
-7,213|Less valuation loss 31.03.24 M&G Investments -2,024.04
-41,990]Add Fidelity/Quilter valuation Gain 31.03.24 3,895.38
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d
Registered Charity No:1016979 INCOME AND EXPENDITURE AS AT YEAR END 31st MARCH 2024
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INCOME :-
Cambridge & Counties 1435.72
4 Julian Hodge Bank Interest 0.00
482.35 Hampshire Trust Bank 199.36
756.75 United Trust Bank 1,911.13
6,239] Dividends :- M&G Investments 6,425.52
11,390 Fidelity Fund Network/Quilter 16,754.53
18,872 26,726.26
LESS EXPENDITURE :-
16,000] Antingham PCC 20,500.00
200] Audit Fees 200.00
1500] Secretarial Fees & Expenses 500.00
O| Bank Charges e 0.00
3,000] Financial Advisers Fees 3,000.00
20,700 24,200.00
-1,828]Excess Income over expenditure 2,526.26
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A|
YEAR END VALUATION 31/3/2024
| Number of | Unit | Value as at | |
|---|---|---|---|
| 23/24 LightGreen Cautious toModerate CTResponsibleGlobal Equity CTResponsibleUKIncome VanguardGlobalBondIndexFund EdenTreeResponsible&Sustainable St.Bond |
6801.380 12,883.050 85.310 12,798.791 |
7.319 1.852 148.064 0.999 |
49,779.30 23,859.41 12,631.32 12,779.59 |
| EdenTreeResponsible&SustainableUKEquity | 10,046.531 | 2.197 | 22,072.23 |
| JanusHenderson Global sustainable Equity | 5,854.380 | 6.613 | 38,715.01 |
| Legal& GAllStocksIndexed LinkedGiltIndexTrust Legal& GAllStocksGiltIndexTrust Legal&GeneralUKProperty RoyalLondon ShortTermFixedIncome RoyalLondonGlobalIndexLinked SarasinResponsibleGlobalEquity |
40,009.121 9,653.472 24,830.915 7,097.184 27,973.263 15,089.860 |
1.089 1.888 0.925 1.011 1.040 3.289 |
43,569.93 18,225.76 22,963.63 7,177.18 29,092.19 49,630.55 |
| Rathbone EthicalBond | 5,602.220 | 2.278 | 12,762.42 |
| StewartInvestorsGlobal Emerging Markets | 3,362.680 | 4,228 | 14,218.08 |
| Cash | 7,129.270 | 1.000 | 7,129.27 |
| Total assets | value | £364,605.88 | |
| a | Cash value | £ 358.18 |
|
| Total account value | £364,964.06 | ||
| Value 23 | Value 24 | ||
| Fidelity/Quilter 361,068.68 364,964.06 M&GCharifund 125,000.00 110,815.42 108,791.38 UnitedTrustBank 61,296.75 |
_63,207.88 ess fi,180.85 |
2 536,068.52 |
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| x | CHARITY COMMISSION | Independent examiner's report on the
l | FOR ENGLAND AND WALES accounts
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Section A Independent Examiner’s Report
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| Report to the trustees sop iH ZaeZan ANTI Gta POST
On accounts for the year | -. <7 . + ahs Charityno| ;. ,, @-
ended |>t” TA REC Qo> ifany) | [OlL69 +4
| report to the trustees on my examination of the accounts of the above
charity (“the Trust”) for the year ended .
Responsibilities and As the charity's trustees, you are responsible for the preparation of the
basis of report accounts in accordance with the requirements of the Charities Act 2011
(“the Act”).
| 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, |
have followed all the applicable Directions given by the Charity Commission
under section 145(5)(b) of the Act.
Independent [The charity's gross income exceeded £250,000 and | am qualified to
examiner's statement undertake the examination by being a qualified member of [insert name of
applicable listed body]]. Delete [ ] if not applicable.
| have completed my examination. | confirm that no material matters have
come to my attention in connection with the examination (other than that
disclosed below ) which gives me cause to believe that in, any material
respect: “
e the accounting records were not kept in accordance-with section 130
of the Charities Act; or
e the accounts did not accord with theaccounting records; or
e the accounts did 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.
| 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.
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- Please delete the words in the brackets if they do not apply.
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Signed: | --~£~ (Vanlle Date:
Name: | Kuen A6ezmay lWAenii
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Relevant professional qualification(s) or body
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IER
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1
Oct 2018
Address:
Quruceres Nea NEI GUY
Section B
Disclosure Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
Give here brief details of any items that the examiner wishes to disclose.
IER
2
Oct 2018