REGISTERED COMPANY NUMBER: 02812304 (England and Wales) REGISTERED CHARITY NUMBER: 1022275 es naudl Fln lal en the Yoar Ended 31 Docembor 2024 Com
Combè Down H 11 Conte heye oft e Flnanclal r Ended 31 Decom or 2024 Pago Report of the Tru$te¢s Indepgndent Examlnevs Report Statement of Flnancial Actlvltie8 Balance Shoot Notes lo the Flnanclal Slatement8 7 to 11
Combo Down Holld Trust Istsmd number. 02812304 ort of tho Trustaes e Year ndè fort The IN5tees who are also directors of the charity for the PUryKJses of th8 Comp8nies Act 200e, present th8ir rgport with the financwl ststements of th8 charity for the year ended 31 DeCber 2024. The trustee$ h8ve adopted the provisions of Accounting and Reporting by Charities: Statement of Recomm&nded Practice applicable to charities preparing their 2cvJunts in accordance tho Flnanclal RÉportlng Standard appll¢abl& In the UK and Republlc of Ireland (FRS 102) 18ff8ciivs l January 2019). OBJECTIVES AND ACTIVITIES ObJ8ctlves and alms Th8 charlly's oblects are lo relleve 81ckne8s and suffering and (¥hrythout prejudice to the generalily of the foregolng) the provision of holidays and holiday a¢Gommo(lation for di¥abl8d people and thelr famllle8 and carers. Slgnlficant activltles The has 8UPPC*ted and funded a number of holldays bythe maklng of grants. Thè trust employs on a part-tlme basls a Chief Executive who liaises with other like-minded agencies, visits Picants and a&%es8e8 both the need8 and th& finanolal means of candid8teg. There hav8 baèn no changes In tha charity's objects or pollcles durlng th8 P8rlod. Publlc beneftt The Trustees have paid due regard to the Ch8rity Commisslon guid@nc8 on publlc b&n8fft In decidlng what activitlBs th8 charity should undertake. Th8 focu8 of our actlv1ti8s remains the provi8ion Df holidays Dr short breaks to dlsabled P80ple, their c8rers and Ihelr f8mllles. Carlng can b8 V8ry d8mandlng. th8 provlslon of a hDllday or short br8ak Gan bè an enjoyable 8xp6rlen¢e. allowlng tenelldarfes to 'r8¢harge thelr baltérles.. catch up on day-to4ay Ilfg or meet other frlends and famlly. It Is Is therefore greatly beneflclal to all concerned. The beneflts are provlded to dlsabled people and thetr famllles ahd carers predomlnantly, but not excluslvely In Bath and Its envlrons, ACHIEVEMENT AND PERFORMANCE Charltable a¢tlvftlos Durlng the year many users started to seek help for the co8t8 of a hollday, so Bpplicatlons for help h8v8 incr8ased fdlowing the covld year8. In 2024, 6 many IndividuBI applicants benefiled from a holid8y. day outings or short bre8k. Th8 Trnt incre88ed funding for disadvantaged children undertaking organized school tiips, 100 enloyed a Theatre trip to London. Activitl8s and events durlng the sthool holldays for over 120 chlldrgn and young care who werè supportgd as were 80 Rthesher Days for carats lo have a ¢hance to meet up and provide them activltles and a chanc8 to develop mutual support groups. Theatre and day outlngs at the seasldB were suppjrted for groups of dlonts wlth d8mentia and alzholmer's. Tho processing of the assrlated applic&lions, to ensur8 that we only help those who meet the Trust's charit8ble 8ims and n88d financial 898i8tanc8, and the oppropri8tenes8 of hDliday vgnues. requires signrficant management Input. We also provide advice Mthere financial h81p is not requlred. As part of the provision of holldays and short breaks, the TNst encourages applicants to make contributions towards thelr holidays, dependent on Iheir means. In many instances thls forms part of the payment for the holiday, together with grants and don8tlons from othor source8. A number of applicants, whllst abl6 to moot the cost of their holld8ylbrealf requir& advice In 88loctlng an appropri8te venuo. Unf(natelY. because of the Trust's resource Ilmitstlons we receive more appllcatlons than w8 are 8ble to 8UPPOrt lèavlng a few d16appolnted. Those ap1¢antS refused due to the Trusts flnan¢lal Ilmltatlons wlll usually be offered prlorlty In subsequent years. FINANCIAL REVIEW Inveslment policy and obJecllve5 In 1997 the proceeds from the sale of the Trusts Combe Down Holiday Home were Invested, the incom& frt)m lch is used to fund the Trust's aciivities. The Imstees are keen that the income of the charity increase8 on 8 yearby-y9ar basis in ord8r Ihat the charlty can mainlaln a consi8t8nt 18vel of grants despite the effecl of any price increases, and are confidgnt that suffldent Income Is belng generated to fund the futur6 acllvitl&s of tha charlty. Reallsed and unreallsed lossos duriiig the year amounted to £144,48512023: £52,401 galn) $0 that Investments had a value at the end of the year of £1,006,471 <2023: £1,149,014). Financial perfomiancè The Charity's income amounted to £55.611 12023.. £52,152) and expenditure totalled £50.01012023'. £46,737). There wa5 a surplus for the year of £5,601 (2023: £5,415) befcre the reallsed and unrealised galns and losses on Inveslments. TDtal funds at the year end amounted to £1,038,764 (2023., £1,177,648) of which £2,596 were restricted. PBue 1
be Down Hollda Trust istered number: 02812304 rtof for tho Year Ended 31 Dac8mbar 2024 FINANCIAL REVIEW Resems pollcy It is the trustees oplnion that the most effectlve way of fulfilling the Chariws objects and generating income of approxlmately £45,(KIO per annum thereby beSng able to fund Indeflnitely holidays for dlsabled peopl6 and Ihelr car8rs. Is lo retaln free resoNe8 equal to the value of the Charily's investments and deposlts. Thls poll¢y Is reviewed on a regular b3SiS. Golng concom Th6 Twst's capltal resDurces contlnue to be impacted by wider 8concrtnic uncertainty and Intèrnatlonal wnfllct that may caus& difficulty In servlGlng application8 in thg future. However, the Tru81 conttnu88 to work within the paramelors of income generated each year. FUTURE PLANS The TruBt Intends to continue fvlfilllng Its oblecllvo8 by providing holid8y8, short brèaks. days OLrt and hollday 8cCommDdau to disabled people and thelr families and carers. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The Trust Is a charitable company Ilmlted by gu8rant&e. It was Incorporated on 23 Awll 1993 and reglstered as a charity on 4 June 1993. The company was e8tabli8hed und8r a Memorandum of Association which establi$hwJ the objects and powers of the charitsble CDmpany and111s govèrned by the regulatlons whlch ore set out In Ils Artlcles of Assoclation. In th8 event of the company b61ng wound up members are requlred to contrlbuts an amount not exceeding £1. ReeNltment and appolntment of new trustQO8 The dlrectors of th6 company arg also charfty trusteès for the purposes of charliy law and under the company's Artides are referred to 88 tNste8s, Under th8 rèqulremgnts Df the Artldes of Assoclat1c the trustees are elected to S8rve for a P8riod of thre8 years aft8r whlch they must be re-e16¢ted at the next Annual G6n6ral Meetlng. A bvBlee m8y b8 reappointed lor ¢onsecutlva perlods not exceedlng In aggregate nThie years bul thereaftar may be reappolnted If he or 6he shau havg ceased to hold such appolntment for not less than one year. All trustees glve thelr tlme voluntsrily and received no benefits from the charlty. Any èxpenses reolalmed from the charlty are set oul In note 5 to the accounis. The M tradition8118g81, busine88 and social s8rvlc8 skllls are well represented on the l)oard of trustees. Oryanlsatlonal structure The irustees meet quarterty and ere responsible for the strat8glc dlrection and tx)licy of the charity as well as monitoring the charivs receipts and payments. At present the tstea board has seven member5 lch Are drawn from 8 Variety Df professional b8ckgrounds relevant to the worf( of the charlty. Tho Chlof Executive also attend8 such me81iTr3s but has no voling rights. Inductlon and tralnlng of hew Irust898 New trustees meet with the Chief Executive and the Chairman to discuss thelr role and respcfflsibililies. This meeting provides an opportunity to answer any questiDns ralsed by the new trustee and to clarlfy the conlent of any written documen1olic which has been Glrculated to the new trustee. The Hon Treasurer ensure8 that truste88 arè k&pi up to date with d6v8lopments In Charity and Company Law. This is achlev8d through briefings whlch tak8 place durlng meetlngs of the trustees and, as appropriate, via the circulati( of written infomiatlon. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company number 02812304 (England and Wales) Reglsterod Charlty numbo 1022275 Roglstered offico FBlrfield Ht)use 2 K8lston Road BA1 1QB Page 2
D wnH li Trust R 18tered number: D2812304 rt of the Trustoes for the Yi¥ar Ended 31 December 2024 Tvuste&8 R A S Hodgman G J Harrls A W Patmore S Fowle G Ryan RFJBush R WilBon Company Secretary G Ryan Independent Examlner Monahans Chartered Accountants Lennox House 3 Plrent Stre8t Bath Somerset BA1 1LB Bankers Metro Bank 18.19 Stall Str8el BA11Q This lo sma ort has been pr6pared In accordance with th8 sp8dal provlslons of Part 15 of the Companles Act 2006 relating mpanies. Approved ordBrof the board of trustees on ............. t5 .Ag.¢t ......,...,,........ and signed on its behalfby: RASH - Trustee Pag8 3
Inde en Exmln V R Combe Down H Ilda Indèpendenl examlnerfs report to Ihe trustees of Combe Down Hollday Trust (Ihe Company,) I report to the charity truslees on my examlnatlon of the ac)unt$ of the Company for the year ended 31 December 2024. Re8pon&lbllltl8s and ba818 of rèport Ag th& charitys trustees of the Company (and also Sts dlrectors for the purposes of company law) you are responslble for the PTeparatlon of the accounts In accordance Wth the requirements of tho Companles Acl 2006 Cthe 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of th6 2006 Act a1 are eligible for indep8ndenl examination, I report in respect of my examlnatlon of ycljr charlty's accounts as carried out under Section 145 of thè Charltlès Act 2011 Cthg 2011 Act,). In carrylng out my examlnatlon I have followed the Dlrectkjns given by th8 Charlty CDmml83ion under Sectlon 145{51 (bl of th8 2011 Act. Indapendenl examlnevs statsment I have completed my examination, I confimi that no matt6rs hav6 com8 to my attention In connection wlth the oxamlnalK)n giving m8 cause to b8llev8: accounting r8coNJs were not kept In r8SP8Gt of the Company as requlred by Sectlon 386 of the 2006 A,. or the accounts do not accord wlth those record3. or the a)Unts do not comply wlth the accountlhg requlrements of Sectlon 39e of the 2006 Act other than 8ny requlrement diat the accounts glve a true and fair view which Is not a matt8r consld8r8d as part of an independenl examlnatlon., or the accomjnts have not been prepared In 8ccdanCe t the methods and princ185 of the Ststemènl of Recommended Practice for Bccounting and reporting by charlties {appllcable to charltles preparlng thelr accounts in acconlanc8 with the Flnancial Reportlng Standard appllcable In the UK and Republlc of Ireland IFRS 102)). I have no crCernS and have come across no other matters In c¢Jnnectlon wth the examination to which attentlon should be dra74vn Irj thls report In order to enable a proper understanding of the accounts to be r8ach8d. Sltr#)n Cunnlngham Monahan5 Chartered AQuntsnts Lennox House 3 Plorrepont Slr8et Bath Somerset BA11LB Date,. Page 4
mbe Do n Hollda Trus nt f Flnanclal Actlvltles for the Year Ended 31 December 2024 2024 Total funds 2023 Total funds Unre6trl¢ted fund Restricted funds Notes INCOME AND ENDOWMENTS FROM DDnatlons Bnd legacies 163 163 Investment Income 55,448 55,448 52,152 Tol 55.611 55,611 52,152 EXPENDITURE ON Raising funds 7,202 7,202 6,842 Charitable actlvltle8 Provision of holidays for the di8abled 33,462 33,462 30,948 othtt 9,346 9,346 8,947 Total 50.010 50,010 46,737 Not galnsl(losses) on Investments (144.485) (144,485) 52,401 NET INCOMEIIEXPENDtruRE) (138,884) {138,8841 57,816 RECONCILIATION OF FUNDS Total funds brought foNiard 1,175,052 2,596 1.177,648 1,119,832 TOTAL FUNDS CARRIED FORWARD 1,036,168 2,596 1,038,764 1.177,648 The notes form part of these financlal statements Page 5
own Holid Truat Istere number: 02812304 alance Sheat cember 2024 31 2024 Total funds 2023 Total funds Unrestrlcted fund Restrlcted funds Notes FIXED ASSETS Tanglblè assèts Inv8strnents 125 1,149,Q14 1,006,471 1,006,471 1,006,565 1,006,565 1,149,139 CURRENT ASSETS Cash al bank 32,318 2,596 34,914 32,524 CREDrroRS Amounts falllng duè wlthln cmè ye8r (2,715) (2,715) (4,015) NET CURRENT ASSETS 29,603 2.598 32,199 28,509 TOTAL ASSETS LESS CURRENT LIABILITIES 1.036,168 2,596 1,038,764 1,177,648 NET ASSETS 1.036.168 2.596 1,038,764 1,177,648 FUNDS Unrestricted fund R8strl¢tsd fund$ 10 1,036.168 2,596 1,175,052 2,596 TOTAL FUNDS 1,038,764 1,177,848 The charltsble company is entitled to exemptlon from audlt under Se¢tlon 477 of the Companles Ad 2006 for the year ended 31 December 2024. The members have not requlred the wmpany to obtaln an audit of its flnanci81 stat8ments for the year ended 31 December 2024 Sn accordanc8 wlth Section 476 of Ihe Compani88 Act 20(. The twstees acknowledge their Spc81bI1lI1eS for (a) ensurlng that the charltable company keeps accountlng records that comply wlth son$ 386 and 387 of the Companies Aut 2006 and preparlng flnanclal statements glve a true and tair view of the state of affai of the charitable company as at the end of each financi81 year and of its surplus or deficit for each finftncial ye&r in accordance with the requirements of Seciions 394 and 395 and whith oth8rwi8e comply with the requir8m8nts of thg Companie8 Act 2006 relaling lo flnancial statements, 80 far a8 appllcabla to tha charltablè ¢c*npany. (b) These financial statements hav8 béen preparad In 8ccordanc8 wlth lh8 prov151ons applicable to tharltab18 companles subjact to tha small companies regime. e finan al 8 atements were approved by the Board of Trustee8 and avthoTi88d for i88ue ..Q..g. ............... and were signed on Ils behalf by., on rustee The notes form part of these financial statements Page 6
Combe Down Hollda Trust otes to the Flnancial Statements foy the Year Ended 31 December 2024 ACCOUNTING POLICIES Basls of preparlng the flnanclal statgmonts The financial statements of Ihe ch81itable company, vthich is 8 public benefit entity under FRS 102, hav8 been prepared In 8(xord8nc8 Wlth the Charftles SORP (FRS 102) 'Accounting and R6POrtlng by Charltl8s: Statem8nt of Recommended Practice applicabl8 to charitie8 pr6parlng thèlr accounts In accordance wllh the Flnancjal Reportlng Standard applicabl8 In the UK and Republic of Ireland (FRS 102) (effective 1 January 2019),, Flnanclal R8porting Standard 102 'The Flnanclal Reporting Standard appllcable In the UK and Republlc of Ireland, and the Companles Act 2006. Th6 finandal ststements have beon prepared under the h18torical cost convention, with the exceptlon of Inv8strn9nts whl¢h are Inoluded at market value, as modlfied by the revaluation of Gertaln a86ets. The chartty is a reuistered charlty In England and Wales and 18 a company limited by guarantse. The address of the principal office is set out in the R8POrt of the Trustee8. The preseniation currency of th8 financlÉl stst8ments Is pounds Blerllng. Golng concern The TNst's capital resources continue to be imp8Cted by wider economic uncertainty and intsmallon81 confllct that may cause dfficulty In servlclng applications in the fvture. However, the Tru8t contlnue8 to work within the par8metsr8 of income g8n8ratad 6ach y6ar. Incom8 All Income IÈ recc*Jnlsed In the Ststement of Fln8ncial Activitles onc@ th6 charily has entitlement to the funds, It Is probable that the income wlll be received and th8 emount can b8 measured reliably. ExpendDlurè Llabllllle5 are recogn15ed as expehdlbjre es soon a5 there is a legal or constructiv8 obllgatlon eommllllng the tharity to that expendlture, It Is probable that a transfer of 8conomlc beneflts wlll be required In sett18ment and the amount of the obligation can b& m8asur8d reliably. EXpeltur8 is accounted for on an arualS basls and has boen classrfied under headlngs that 8ggregate all cost related to th6 Gatagory. Where costs ¢ennot be directly allributed to particular headingB they h8ve been allated to adlvltles ¢X a basls consistent with the use of resources. Grants cthred sub}ect to nditIonS whl¢h have not been met at the year end dale are noted BS a clmitMent but not arUed as expenditure. Allocatlon and apportionment of costs AII 8xp6ns88 ar6 incurrad to furth6r th9 charlty's ¢A)leciive of rellevlng slckno88 and sufferlng and the provtsion of holidays and hollday accc>mmodation for dlsabled people and their familles and carers. As such 811 support expandituro Is allated to that actlvlty. Tangible fixtsd assets Depreciation Is provlded at the follovlng annual rales In Order to write off each asset over its 8Stlmated u88fv1 Flxtures and flttlngs 25Tr/0 on str8ight Ilne b8818 Taxation Tha charity Is exempt from corporatlon tsx on its charltable activitio8, Fund accounting Unrestrlcted funds can be used in accordance the Gharitsble oblectlves at the d18cret1 of the trustees, Restricted funds ttan only be used for particular restricted pury)08e8 Wlthin the objects of the charlly. Reatrlctions arise when speclfled by the donor or whon funds are raised for partlcular r88tricted purposeg. Futher explanation of the nature and purpose of each fund Is Includ8d In th6 notes to the financlal 5tstements. Page 7 contlnued...
Com D wnH 11 Notes to th8 Financial Statements . continued Yfrar nded 1 December 2024 INVESTMENT INCOME 2024 2023 UK listed Investments Bank Interest r8celv8ble 54,010 1,438 50,821 1,331 55,448 52,152 RA131NG FUNDS In¥8slmènt management costs 2024 2023 Investment management fee8 7,202 6,842 NET INCOMEI(EXPENDITURE) Net Incomel(expendlture) Is staled after chargingllcrediting).. 2024 2023 D8preclatlon - owned ass8ts 31 42 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, r8muneratlon or other beneflts for the year ended 31 Decernber 2024 nor for the year ended 31 December 2023. Truste6s' expen808 Thore were no trustees, expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. COPIPARATIVES FOR THE STATEMENT OF FINANCIAL ACTivrriES Unrestricted fund Restricted funds Total funds INCOME AND ENDOWMENTS FROM Investment Income 52,152 52,152 EXPENDITURE ON Ralslng fund8 6.842 6,842 CharSlablo actlvltlos ProviBion of holid8y8 fDr lh8 d188blod 30.948 30,948 other 8,947 8,947 Totsl 46,737 48,737 Net galns on Inve$tments 52,401 52,401 NET IXCOME 57.816 57,816 RECONCIUATION OF FUNDS Total funds brought forward 1,117.236 2,596 1,119,832 Paoe 8 contlnuad...
Combe Down Hollda TYu8t tes lo the Flnan¢lal S enls - contin for the Year Ended 31 D8cember 2024 COMPARATIVES FOR THE sTATEMEr OF FINANCIAL ACTIVITIES . continued Unrestrictsd fund Restricted funds Tolal funds TOTAL FUNDS CARRIED FORWARD 1,175,052 2.596 1,177,648 TANGIBLE FIXED ASSErs Flxlures and fiitings COST At 1 January 2024 and 31 December 2024 1,294 DEPRECIATION At 1 January 2024 Charg6 year 1.169 31 At 31 December 2024 1,200 NEf BOOK VALUE At 31 D8cemb8r 2024 At 31 De(*mber 2023 125 FIXED ASSET INVESTMENTS cash held wlthln portfolio stad investmènts Totals MARKET VALUE At 1 January 2024 Addlllons Disposals Rewdluatk)ns 1,135,548 38.71J4 (98.384) (103,259) 13,486 {38,704) 59,100 1,149,014 (39,2841 (103,259) At 31 DeGwnber 2024 972,609 33,862 1,006,471 NET BOOKVALUE At 31 December 2024 972,609 33,862 1,006,471 At 31 December 2023 1,135,548 13,466 ,149,014 ThemwÉre no investment assets outside the UK, Cost or valuatlon at 31 DeGgmber 2024 is r8pr&68nted by,. Cash held thln portfolio Llsted investments Totals V81uatSon In 2024 972.609 33.862 1.006.471 Page 9 conlinued...
Combe Down Holido Trus otes to the Flnanclal Statemé .co for the Year Ended 31 Décomb8r 2024 ued CREDITORS: AMOUNTS FALLING DUE MTHIN ONE YEAR 2024 2023 Social sentY and oth8r taxes Other creditor8 3B6 3,629 2,715 2,715 4,015 10. MOVEMENT IN FUNDS N&t movement in funds At 31.12,24 Al 1.1.24 Unre8tTicled fund8 G8n8ral fund 1,175,052 (138,884) 1,036.168 Rpslrlcted funds B&NES Annu81 Gr8nt Keyn5ham Town Councll Appeal Bath Municipal Charlllès 93 1.118 1,200 185 1,118 1,200 185 2,596 2.596 TOTAL FUNDS 1,177,648 (138,884) 1,038.7e4 Net movemtnl In funds, Included In the above are as follows: Incoming resourc8S Resources expended Galns and 105ses Movement In funds Unrestrfclod funds Genèral fund 55,611 <50,010) (144.485) (138,884) TOTAL FUNDS 55,611 (,010> (144,485) (138,884) Comparativeg for movement In fund Net mov8m8nt In funds At 31.12.23 At 1.1.23 Unrnstrlctsd funds General fund 1,117,236 57,816 1,176,052 Restricted fund8 B&NES Annual Grant Keynsham Town Councll Appeal Bath Munlclpal Charilles 93 1,118 1,200 185 1,118 1,200 185 2,596 2,5 TOTAL FUNDS 1,119,832 57.816 1,177,648 Pagè10 continued...
Combe Down Holida Trust es to the Flnanclal 8t tements - contlnued for the Year Ended 31 Decèmber 10. MOVEMENT IN FUNDS - contlnued Comparative net movement in funds, included in the above are 85 follows: InrnIng resources Resources expended Gain8 and 10888S hAov8ment in fund8 Unr88trlctèd funds Generdl fund 52,152 {46,737) 52,401 57,816 TOTAL FUNDS 52,152 (46,737) 52,401 57,816 The B&NES Annual Grant r88trlcted fund repr8s6nls Local Authorlty grants for 8pecific Indlvidual8 or catsgorle8 of Indlvldu818. The Keynsham Town Coundl restrlcted fund represents 8 grant towards provldlng short breaks and holldays for dlsabled people who reslde wlthln Keynsham. RELATED PARTY DISCLOSURES There w8re no relat8d party Iransactlons for Ihe year ended 31 D8camr 2024. Page11