Registered Charity Number: 1041391
THE WYKEHAM CROWN AND MANOR TRUST
FINANCIAL STATEMENTS
YEAR ENDED 30TH JUNE, 2025
THE WYKEHAM CROWN AND MANOR TRUST
Page 1
REPORT OF THE TRUSTEES
YEAR ENDED 30TH JUNE, 2025
The trustees present their report with the financial statements of the charity
for the year ended 30th June, 2025. The trustees confirm that the annual report
and financial statements of the charity comply with the requirements of the
charity’s trust deed, Charities Act 2011 and Accounting and Reporting by Charities:
Statement of Recommended Practice applicable to charities preparing their accounts
in accordance with the Financial Reporting Standards applicable in the United
Kingdom and Republic of Ireland (FRS 102) (effective 1st January, 2015) and
applicable regulations.
ESTABLISHMENT OF TRUST
The Charity was established on 3rd October, 1994 and was registered as charity
number 1041391 on 13th October, 1994.
THE OBJECTS
The trustees shall hold the Trust Fund and its income upon trust to apply them
for such objects (the "Objects") in any part of the world as are exclusively
charitable in accordance with the laws of England and Wales and in particular
(but without prejudice to the generality of the foregoing):-
-
(1) To assist in the provision of facilities for the education and recreation of young persons in London and elsewhere so as to develop their physical, mental and spiritual capacities that they may grow to full maturity as individuals and members of society and that their condition of life may be improved in particular by supporting the work of the Crown and Manor Club, Hoxton, and any other Clubs affiliated to the NABC Clubs for Young People and run in conformity with the principles and aims of the said Association as the trustees think fit.
-
(2) To promote charitable purposes beneficial to the community.
DEVELOPMENTS, ACTIVITIES AND ACHIEVEMENTS
The charitable trust was established on 3rd October, 1994 with the objects as
stated above. In line with these charitable objectives, the main activity and
achievement of the year was a charitable payment to Crown & Manor Club, Hoxton
to meet the Club's objectives.
CHARITY TRUSTEES
The Charity trustees who have served during the year were:-
G.B. Davison
M.J. Sabben-Clare
A.I. Doolittle
D.R.D. Cornell
A.J.C. Normand
R.M.U. Lambert
E.A.A. Maurency
Page 2
THE WYKEHAM CROWN AND MANOR TRUST
REPORT OF THE TRUSTEES
YEAR ENDED 30TH JUNE, 2025
RESERVE POLICY
The board of trustees consider that the current level of reserves is sufficient
to meet the stated objectives of the charity. The aim is to maintain future
levels of income so as to cover the expected levels of expenditure and not
therefore, deplete reserves.
INVESTMENT POLICY
The trustees have relied on stockbrokers and investment managers in providing
detailed professional advice in this respect. A general approach has, however,
been to have the majority of investments in relatively risk free areas.
RISK MANAGEMENT
The main risk to the charity has been identified as market risk attached to
equity investments. Risk management has historically been achieved by having
a large proportion of investments in fixed interest securities, an area of
relatively low risk. This policy will be regularly reviewed so as to meet
the investment and reserves policies stated above.
PRINCIPAL OFFICE
1-12 Wiltshire Row, London, N1 5DH.
BANKERS
Barclays Bank PLC, 128 Moorgate, London. EC2M 6SX.
INDEPENDENT EXAMINER
Newton & Garner Limited, Chartered Accountants, Building 2, 30 Friern Park,
North Finchley, London. N12 9DA
SOLICITORS
Winckworth Sherwood, Minerva House, 5 Montague Close, London. SE1 9BB.
STOCKBROKERS/INVESTMENT MANAGERS
Rathbones Investment Management, 30 Gresham Street, London. EC2V 7QN.
THE WYKEHAM CROWN AND MANOR TRUST
REPORT OF THE TRUSTEES
YEAR ENDED 30TH JUNE, 2025
Page 3
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees are responsible for preparing the Trustees’ Annual Report and the
Financial statements in accordance with applicable law and United Kingdom
Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare
financial statements for each financial year which give a true and fair view of
the state of affairs of the charity and of the incoming resources and application
of resources of the charity for that period. In preparing financial statements,
the trustees are required to:-
-
Select suitable accounting policies and then apply them consistently.
-
Observe the methods and principles in the Charities SORP;
-
Make judgements and estimates that are reasonable and prudent.
-
State whether applicable accounting standards have been followed subject to
-
any material departures disclosed and explained in the financial statements.
-
Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose
with reasonable accuracy at any time the financial position of the charity and
enable them to ensure that the financial statements comply with the Charities
Act 2011, the applicable Charity (Accounts and Reports) Regulations 2008 and
the provisions of the trust deed. They are also responsible for safeguarding
the assets of the charity and hence taking reasonable steps for the prevention
and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the charity
and financial information included on the charity’s website in accordance with
legislation in the United Kingdom governing the preparation and dissemination
of financial statements.
Approved by the Board on 6th January 2026 and signed on its behalf
G.B Davison - TRUSTEE
Page 4
THE WYKEHAM CROWN AND MANOR TRUST
NO. OF CHARITY - 1041391
YEAR ENDED 30TH JUNE, 2025
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE WYKEHAM CROWN AND MANOR TRUST
I report to the trustees on my examination of the accounts of the above charity
(“the Trust”) for the year ended 30th June, 2025.
Respective responsibilities of trustees and examiner
As the charity’s trustees, 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 all 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 which gives me cause
to believe that in, any material respect:
-
the accounting records were not kept in accordance with section 130 of
-
the Charites Act; or
-
the accounts did not accord with the accounting records; or
-
the accounts did not comply with the applicable requirements concerning
-
the form and content of accounts set out in the Charites (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.
ROBERT KNIGHT, FCCA, ATII
NEWTON & GARNER LIMITED,
BUILDING 2, 30 FRIERN PARK,
NORTH FINCHLEY,
LONDON, N12 9DA. DATE: 19TH JANUARY 2025
Page 5
THE WYKEHAM CROWN AND MANOR TRUST
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 30TH JUNE, 2025
UnrestrictedUnrestricted
Notes Funds Funds
2025 2024
INCOME
Covenanted & other donations 4,815 3,393
Investment income 3 34,336 37,591
------ ------
TOTAL INCOME £39,151 £40,984
====== ======
EXPENDITURE
Direct charitable expenditure 4 44,000 69,000
Management & administration costs 5 9,400 16,056
------ ------
TOTAL EXPENDITURE £53,400 £85,056
====== ======
NET EXPENDITURE BEFORE
GAINS AND LOSSES ON INVESTMENTS (14,249) (44,072)
Net (losses)/gains on investments 7 (3,850) 25,392
------ ------
NET DEFICIT FOR THE YEAR (18,099) (18,680)
OTHER RECOGNISED GAINS/(LOSSES)
Net gains on revaluation of
fixed assets 7 31,703 2,969
------ ------
NET MOVEMENT IN FUNDS 13,604 (15,711)
RECONCILIATION OF FUNDS
Balance as at 1st July, 2024 954,092 969,803
------- -------
BALANCE AS AT 30TH JUNE, 2025 10 £967,696 £954,092
======= =======
Page 6
THE WYKEHAM CROWN AND MANOR TRUST
BALANCE SHEET
AT 30TH JUNE, 2025
Notes20252024
FIXED ASSETS
Investments 7 953,496 950,854
CURRENT ASSETS
Debtors 8 550 588
Cash at bank 18,386 18,089
------ ------
18,936 18,677
CURRENT LIABILITIES
Creditors 9 (4,736) (15,439)
----- ------
NET CURRENT ASSETS 14,200 3,238
------- -------
NET ASSETS £967,696 £954,092
======= =======
FUNDS
Unrestricted funds
General fund 10 £967,696 £954,092
======= =======
Approved by the Trustees on 6th January 2026 and signed on their behalf
M.J. Sabben-Clare - Trustee
G.B. Davison - Trustee
Page 7
THE WYKEHAM CROWN AND MANOR TRUST
NOTES TO THE ACCOUNTS
1. LEGAL STATUS OF CHARITABLE TRUST
The Wykeham Crown and Manor Trust is registered with the Charity Commission in
United Kingdom as a charity. The charity’s registered number and principal office
address can be found in the Report of the Trustees.
2. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared in accordance with 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 1st January, 2015)
– (Charities SORP (FRS 102)) The Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102) and the Charity Act 2011.
The Wykeham Crown and Manor Trust meets the definition of a public benefit entity
under FRS 102. Assets and liabilities are initially recognised at historical cost or
transaction value unless otherwise stated in the relevant accounting policy notes.
There are no material uncertainties about The Wykeham Crown and Manor Trust’s
ability to continue as a going concern.
In preparing the financial statements, the trustees have considered whether in
applying the accounting policies required by FRS 102 and the Charities SORP (FRS
102) the restatement of comparative items was required. No material restatement of
comparative items was required.
In common with many other charities of our size and nature we use our accountants to
prepare and to assist with the preparation of the financial statements.
The financial statements are prepared in sterling, which is the functional currency
of the charity. Monetary amounts in these financial statements are rounded to the
nearest £.
Income
Donations and other form of voluntary income are recognised as income when
receivable, except insofar as they are incapable of financial measurement.
Expenditure
Expenditure is accounted for on an accruals basis with any irrecoverable element of
VAT included within the item of expense to which it relates.
Charitable expenditure comprises those costs incurred in the delivery of its
activities and services for the beneficiaries payable are charged in the year when
the offer is approved by trustees and conveyed to the recipient.
All costs are allocated between expenditure categories of the Statement of Financial
Activities on a basis designed to reflect the use of the resource costs relating to
a particular activity are allocated directly.
Page 8
THE WYKEHAM CROWN AND MANOR TRUST
NOTES TO THE ACCOUNTS
2. ACCOUNTING POLICIES (cont.)
Fund accounting
Unrestricted funds are donations and other income resources receivable or
generated for the objects of the charity without further specified purpose
and are available as general funds.
Designated funds are set aside as part of unrestricted funds in order to meet
financial obligations and ensure the future operation of the club.
Restricted funds are to be used for specific purposes as laid down.
Expenditure which meets these criteria is charged to the fund.
Investments
Investments are valued at market value at the balance sheet date. Any gain or loss
on investments is taken to the Statement of Financial Activities. Investment income
is accounted for when receivable.
Debtors
Debtors are recognised at the settlement amount due after any discount offered.
Prepayments are valued at the amount prepaid net of any discounts due.
Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand,
deposits held at call with banks, other short term liquid investments with original
maturities of three months or less, and bank overdraft. Bank overdrafts are shown
within borrowings in current liabilities.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation
resulting from a past event that will probably result in the transfer of funds to a
third party and the amount due to settle the obligation can be measured or estimated
reliably.
Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial
Instruments and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of
its financial instruments.
Financial instruments are recognised in the charity’s balance sheet when the charity
becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the
financial statements, when there is a legally enforceable right to set off the
recognised amounts and there is an intention to settle on a net basis or to realise
the asset and settle the liability simultaneously.
THE WYKEHAM CROWN AND MANOR TRUST
Page 9
NOTES TO THE ACCOUNTS
2. ACCOUNTING POLICIES (cont.)
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are
initially measured at transaction price including transaction costs and are
subsequently carried at amortised cost using the effective interest method unless
the arrangement constitutes a financing transaction, when the transaction is
measured at the present value of the future receipts discounted at a market rate of
interest. Financial assets classifieds receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow
group charities and preference shares that are classified as debt, are initially
recognised at transaction price unless the arrangement constitutes a financing
transaction, where the debt instrument is measured at the present value of the
future payments discounted at a market rate of interest. Financial liabilities
classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. Amounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are
presented as non-current liabilities. Trade creditors are recognised initially at
transaction price and subsequently measured at amortised cost using the effective
interest method.
3.
4. |
2025 2024
INVESTMENT INCOME
Dividends received 30,696 33,942
Investment interest 2,802 3,337
Bank Interest
838
312
------ ------
£34,336 £37,591
====== ======
CHARITABLE EXPENDITURE |
|
|
Direct charitable payments made to:-
Crown and Manor Club, Hoxton £44,000 £69,000
====== ======
Page 10
THE WYKEHAM CROWN AND MANOR TRUST
NOTES TO THE ACCOUNTS
20252024
5.MANAGEMENT AND ADMINISTRATION
Investment managers' fees 7,550 7,496
Accountancy fees 1,650 1,560
Legal and professional fees 200 7,000
----- ------
£9,400 £16,056
===== ======
6. TRUSTEES’ REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the year ended
30th June, 2025.
There were no trustees’ expenses for the year ended 30th June, 2025.
20252024
7.FIXED ASSETS
INVESTMENTS
Balance at 1st July, 2024 950,854 951,905
Disposals (46,337) (80,624)
Acquisitions 21,231 51,362
Net gains/(losses)/gains on investments (3,850) 25,392
Revaluations 31,703 2,969
Interest on fixed interest securities - B/fwd (657) (807)
Interest on fixed interest securities - C/fwd 552 657
------- -------
Market value at 30th June, 2025 £953,496 £950,854
======= =======
Historical cost at 30th June, 2025 £684,337 £713,294
======= =======
Listed investments are represented by:-
UK fixed interest securities 111,657 111,266
UK equity shares 428,118 455,518
Overseas equity shares 244,114 233,434
Others 169,607 150,636
------- -------
Total £953,496 £950,854
======= =======
Page 11
THE WYKEHAM CROWN AND MANOR TRUST
NOTES TO THE ACCOUNTS
20252024
DEBTORS
Sundry debtors £550 £588
=== ===
8. DEBTORS
9. CREDITORS
Accruals £4,736 £15,439
===== ======
10. UNRESTRICTED FUNDS
Net Net
Balance Movement in Investment Gains on Balance
01.07.24 Income Expenditure losses revaluation 30.06.25
General fund £954,092 £39,151 £(53,400) £(3,850) £31,703 £967,696
======= ====== ====== ===== ====== =======
11. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Fixed Net
assets current
investments assets Total
Unrestricted funds
General fund £953,496 £14,200 £967,696
======= ====== =======
12. RELATED PARTY
A.I. Doolittle and D.R.D. Cornell are trustees of this charity and directors of
Crown and Manor Club, Hoxton.
During the year, the charity made donations of £44,000 (2024 - £69,000) to the
company.