T¢th W. WYBR4THT.3KKG 21 224 17.'30%11 BST Iisrc +11 D 111 P 1118 Charity number: 1045492 THE ASHWORTH CHARITABLE TRUST UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
T¢th W. WYBR4THT.3KKG 21 224 17'.30%11 BST Iisrc +11 D 111 P 2118 THE ASHWORTH CHARITABLE TRUST CCNTENTS Page Reference and administrative details of the Charity, its Trustees and advisers Trustees. report Independent examiner's report Stalement of financial activities Balance sheet Notes to the financial statements 8-16
T¢th W. WYBR4THT.3KKG 21 224 17'.30%11 BST Iisrc +11 D 111 P 3118 THE ASHWORTH CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2024 The Charty was founded by Mrs C E Crabtree and constituted as a Charitable Trust on 23 March 1995 by a Deed of Trust. Trustees Mr K Golestani, Chairman Mrs K A Gray, Founder Mrs S Rouhipour Dr W Momen Mr l D Mila£ Charity registered number 1045492 Principal office Veale Wasbrough Vizarcb LLP Second Floor 3 Brindleyplace Bimiingham B12JB Accountants James Cowper Kreston Chartered Accountants 2 Communications Road Greenham Business Park Greenham Newbury RG19 6AB Bankers Lloyds Bank PLC POBox8 1-5 High Street Oxford OX14A4 Solicitors Veale Wasbrough Vizarts LLP Second Floor 3 Brindleyplace Bimiingham B12JB Investment Managers JMFinn&Co. 60 Abbeygate Street Bury St Edmunds Suffolk IP33 1LB Independent Examiner Mrs S L Watts FCCA DI Westcotts 7C Cranmere Road Okehampton Devon EX29 1UE Page 1
T¢th W. WYBR4THT.3KKG 21 224 17.'30%11 BST Iisrc +11 D 111 P4118 THE ASHWORTH CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2024 The Trustees present their annual report together wth the financial ststements of the Charity for the year ended 5 April 2024. Objectlves and actlvltles a. Policies and objectives The objectives of the Charity are to make grants for charitable purposes as the Trustees decide. At present. the Trustees have detennined to cons applications for and make grants as appropriate as follows - to the Ironbridge Gorge Museum Trust. to Hospiscare's Patients and Family Fund. - for humanitarian projects to other charities. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit= running a charty IPB2)'. Achlevements and perforn?ance a. Review of activities The trust made grants to institutions during the year totalling £181,075 (2023.. £209,241 } as detailed in the notes to the financial statements. The trust has continued lo make grants to Hospiscare and has continued to support humanitarian projects. The Trustees have reviewed the risks faced by the Charity and have implemented systems to mitigate these risks. In particular, the Trustees consider the primari risk to be a fall in the value of the Charitys investments or a fall in the level of income. The Trustees have miticated this risk by using the services of a leading stockbroker and by adopting a suitable investment policy. Flnanclal revlew a. Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concem basis in preparing the financial statements. b. Reserves policy The Trust5, reserves policy is primarily to make grants up to the Ve1 of income reserves available. The Trustees no longer hold any fomial designated reserves in the Doctors. and Social Services Fund for the people covered by the medical practices of Honiton, Ottery St Mary, Sidmouth and Wonford Green surgey, Exeter and throughout Devon, and for applicaticffts from the Social Services covering the same area. However, a grant of £6,000 was made to Hospiscare's Patients and FllY Fund (Doctors Scheme), a restricted fund which very much complements the vision of the original founder of the Ashworth Charitable Trust. The level of income and capital reserves at 5 April 2024 is shown in the notes to the accounts. Page 2
T¢th W. WYBR4THT.3KKG 21 224 17'.30%11 BST Iisrc +11 D 111 P 5118 THE ASHWORTH CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 c. Investments policy The Trustees have continued to invest the Trust Fund to provide a stream of income available for potential distribution and a sound capital base for the long teim future of the Charity. The Ashworth portfolio moved from an advisory to a discretionary basis during the year and the Trustees give due consideration to the ethical implications of their investments within the context of Charity Commission guidelines {on balance. risk and the intentions of the original founder). d. Summary The attached financial statements show the current £tate of the finances of the Trust. Investment income for the year amounted to £199,754 (2023: £194,705) and grants payable were as noted above. The value of the investments as at 5 April 2024 was £5,728,901 (2023: £5,725,006). The Trustees continue to monitor the value of its investrnents closely. e. Plans for future periods The Trustees do not expect any signrficant changes in the objectives of the Charity in the forthccming year and intend to continue to make grants based on totsl retwn wthin the capability of the fund. Structure, governance and management a. Constitution The Ashworth Charitable Trust is a registered charity, number 1045492, and is constituted under a Trust deed. b. Organisational structure and decision-making policies Trustees who have served during the year and since the year end are set out on page 1. Decisions are made at Trustees. meetings or in ben meetings by a majorty of Trustees. The right to appoint new Trustees is vested in the Founders. The present Trustees will ensure that future Trustees are eased into the role, made aware of their responsibilities, and provided with information relating to the objectives and governance of the Charity. Page 3
VirtualskJnatyreTransac R. WYBR-JTHT-3KKG 21 Jul 2024 17:30(11 W IUTC +11 D 111 P 6118 THE ASHWORTH CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 statement of 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 (United 'ngdorn Generally Accepted Acwunting PraCts.). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the TTUStees are required to: select suitable accounting policies and then apply them consistently, observe the methods and principles of the Charities SORP (FRS 102)., make judgments and accounting estimates that are reasonable and prudent" state whether applicable UK Accountlng sn(Jar¢I$ (FRS .102) have been followecl, Subje to any matenal departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charty will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Chariws transactions and disclose with reasonable accuracy at any b'me the financial position of the Charity and enable them to ensure that the financial statements comply wth the Charities Act 2011. the Charty (Accounts and Reports) Regulations 2008 and the provisions of the Twst deed. They are also responsible for safeguarding the assets of the Chanty and hence foi taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Tiustees and signed on their behalf by: Mrs K A Gray (Founder) Date= 21 July 2024 Page 4
T¢th W. WYBR4THT.3KKG 21 224 17.'30%11 BST Iisrc +11 D 111 P 7118 THE ASHWORTH CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2024 Independent Examiner's Report lo the Trustees of The Ashworth Charitable Trusl ('the Charity) I report to the charty Trustees on my examination ofthe accounts of the Charty for the year ended 5 April 2024. Responsibilities and Basis of Report As the Trustees of the Charty you are responsible for the preparation of the accounts in accordance wth the requirements of the Charities Act 2011 (Ihe 2011 A..). I report in re=pect of my examination of the Charty'_ account- carricd out undcr ocction 145 of thc - 011 Act and in carrwng out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)Ib} of the 2011 Act. Independent Examiner's Slatement Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reports-ng Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charrties: Statement of Recommended Practice issued on 1 April 2005 vthich is referred to in the extant regulations bui has been wthdrawn. l understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practs'ce effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confimi that nc matters have come to my attention in connection with the examinats.on giving me cause to beIve that in any rnaterial respect: accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Acl: or the accounts do not accord with those records; or the accounts do 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 fairf view which is not a matter considered as part of an independent examination. I have no concerns and have come across no o'.her matters in connection with the examination to which attention should be drawn in this report in order to eTr3ble a proper understanding of the accounts to be reached. This report is made solely to the Chariws Trustees, as a body, in accordance with Part 4 of the Charities {Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters l am required to state to them in an IrKlependent examiner's report and for no other purpose. To the fullest extent pemiitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charitys Trustees as a body. for my'Nork or for this report. Signed: Dated: 11 October 2024 Mrs S L Watts FCCA DChA ICAEW Westcotts 7C Cranmere Road Okehampton Devon EX29 1 UE Page 5
T¢th W. WYBR4THT.3KKG 21 224 17'.30%11 BST Iisrc +11 D 111 P 8118 THE ASHWORTH CHARITABLE TRUST STATEMENT OF FINANCIAL ACTivrriES FOR THE YEAR ENDED 5 APRIL 2024 Unrestricted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Invesknents 199,754 199,754 194. 705 Tolal income 199,754 199,754 194, 705 Expenditure on: Raising funds.. Investrnent management costs Charitable activities 31,709 200,974 31,709 200,974 31,905 228,631 Total expenditure 232,683 232,683 260,536 Net expenditure before net gainslllosses) on investments Net gainsl(losses) on investments (32,929) 14,169 (32,929} 14,169 (65,831) (348,538) Net movement in funds (18,760) (18,760) (414,369) Reconciliation of funds: Total funds brought fOard Net movement in funds 5,839,224 (18,760) 5,839,224 (18,760} 6,253,593 (414,369) Total funds carried forward 5,820,464 5,820,464 5,839,224 The Statement of Financial Activities indudes all gains and losses recognised in the year. The notes on pages 8 to 16 forni part of these financial ststements. Page 6
VirtualskJnatyreTransac R. WYBR-JTHT-3KKG 21 Jul 2024 17:30(11 W IUTC +11 D 111 P 9118 THE ASHWORTH CHARITABLE TRUST BALANCE SHEEr AS AT5 APRIL 2024 2024 2023 Note Fixed assets Invesknents 5,728,901 5, 725,006 5,728,901 5, 725,006 Current assets VWV client account 1,153 124.435 Cash at bank and in hand 104,181 104.181 125,588 Creditors: amounts falling due wthin one year 10 (12,618) (11,370) Net current assets 91,563 114,218 Total net assets 5,820,464 5,839.224 Charity funds Unrestricted funds 5,820,464 5,839,224 Total funds 5,820,464 5,839,224 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: Mrs K A Gray (Founder) Date: 21 July 2024 The notes on pages 8 to 16 form part of these financial statements. Page 7
T¢th W. WYBR4THT.3KKG 21 224 17.'30%11 BST Iisrc +11 D 111 P 10118 THE ASHWORTH CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 General information The Ashworth Charitable Trust is a registered charity in England and Wales. The address of its registered office is Veale Wasbrough Vizards LLP, Second Floor, 3 8rindleyplace, Birmingham, B12J8. Accounting policies 2.1 Basis orpreparation or rinancial staiements The financial ststements have been prepared in accordance wth the Chartties SORP (FRS 102) Accounting and Reporting by Charities.. Ststement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leff#ctive 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireld IFRS 1021 and the Charities Act 2011. The financial statements have been prepared to give a 'lTue and fair, view and have departed from the Charities (Accounts and Reports) Re3ulations 2008 only to the extent required to provide a Irue and fair, view. The Ashworth Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are inits'ally recognised at hBtorical cost or transaction value unless otherwise stated in the relevant accounting policy. 2.2 Income All income is recognised once the Ch¥ity has entilement lo the income, it is probable that the income will be received and the amount cf income receivable can be measured reliably. 2.3 Expendlture Expenditure is recognised once there is G legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activty. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each acts'vity. Direct costs attributable to a single activity are allocated directly to that activity. Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs ol all fundraising activities events and non-charrtable trading. Expenditure on charitable activities is Incrred on directly undertaking the activities which further the Charity's objectives, as well as any assooated support costs. Grants payable are charged in the year M'hen the offer is made except in those cases where the offer is conditional, such grants being recognised as expendrture when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as commitment, but not accrued as expendilure. All expenditure is inclusive of Irrecoverab VAT. 2.4 Investments Fixed asset investments are a forni ol financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date. Investment gains and losses, whether realised or uniealised, are combined and presented as 'Gainsl(Losses) on investments, in the Statement of financial activities. Page 8
T¢th W. WYBR4THT.3KKG 21 224 17'.30%11 BST Iisrc +11 D 111 P 11118 THE ASHWORTH CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Accounting policies (conlinued) 2.5 Cash at bank and In hand Cash at bank and in hand includes cash and short-temi highly liquid investments with a short maturty of three months or less from the date of acquisition or opening of the deposit or similar account. 2.6 Liabilities and prnvisions Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of eccnomic benefit will be required in settlemenc and the amount of the settlement can be estimated reliably. 2.7 Fund accountlng General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Investment income, gains and losses are allocated to the appropriate fund. Investment income Unrestricted funds 2024 Total funds 2024 Total fvnds 2023 Income from listed investments 199,754 199,754 194, 705 Analysis of expenditure on charitable activities Summary by fund type Unrestricted funds 2024 Total 2024 Total 2023 Charitable activib'es 200.974 200,974 228,631 Page 9
T¢th W. WYBR4THT.3KKG 21 224 17.'30%11 BST Iisrc +11 D 111 P 1W18 THE ASHWORTH CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Analysis of expenditure by activities Grant funding of activities 2024 Support costs 2024 Total funds 2024 Total fvnds 2023 Charitable activits'es 181.075 19,899 200,974 228,631 Total 2023 209,241 19,390 228,631 Analysis of support costs Total funds 2024 Total funds 2023 Trustee indemnty insurance Accountancy fees Independent examination Solicitors fees Administration expenses 824 6,720 1,128 7,740 3,487 1,001 6,600 7, 740 3, 105 19,899 19,390 Page 10
T¢th W. WYBR4THT.3KKG 21 224 17.'30%11 BST Iisrc +11 D 111 P 13118 THE ASHWORTH CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Analysis of grants 2024 Local Pollyfield Community Centre Rp.Ad FAqy IIK 4.250 3.g29 Natlonal 8.179 Altematives to Violence Project Aspirations Program Be Kind Movement Children's Hospital Pyiamas Cumbernauld and Kilsyth Care Kent Enterprise Trust Knight Support CIO New Leaf Support Priority Youth Project Sunshine Wishes Children's Charty Transport for All 4.000 3,000 3,000 5,000 3,000 3,000 4,000 2,704 4,084 3,000 3.000 37,788 Intematlonal Bumba Foundation child.org International COCO (Comrades of Children Overseas) CRESS UK Freedom Kit Bags Freedom to Learn Friends of Monze Green Shoots Foundation Jacaranda UK Foundation Joshua Orphan and Community Care Let's educate them Love the One Manisha UK 5,000 4,000 3,117 3,000 5,000 5,000 1,800 5,000 3,000 4,800 4,000 3,000 4,800 3,000 2,600 Mojatu Foundation Made with Hope MULTI AGENCY INTERNATIONAL TRAINING AND SUPPORT (MAITS) Otra Cosa Neork Refugee Biriyani & Bananas Reseed RLABS UK The Kianh Foundation 3,000 3,000 10,000 3,000 3,000 3,156 Page11
T¢th W. WYBR4THT.3KKG 21 224 17.'30%11 BST Iisrc +11 D 111 P 14118 THE ASHWORTH CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 The Turning Point Trust The Zena Launchpad To Live in H.O.P.E. Tools for Inner Peace Tusome Africa Wamba Communty Trust Zambia Orphans Aid UK 3.000 4.000 5,000 4,800 4,000 4,000 4.035 111,108 Other BASED UK Hospiscare {4 x £3,000) Ironbridge Gorge Museum Trust Limited 6,000 12.000 6,000 24,000 181.075 These grants do not imply any pattern of giving on the part of Ihe Trustees as regards the future, or any general obligations on the part of the Trustees to make further such grants in the future. Independenl examiner's remuneration The independent examinerfs remuneration amounts to an independent examiner fee of £1,128 (2023 - £944). Trustees. remuneration and expenses During the year, no Twstees received any rerruneration or other benefits (2023 - £NIL). During the year ended 5 April 2024. expense5 were reimbursed or paid directly to 4 Trustees (2022: 4> broken down as follows: 2024 2023 Travel Accommodation Insurance Independent examination 262 1.140 179 1.035 1,001 900 1,402 3,115 Page 12
T¢th W. WYBR4THT.3KKG 21 224 17.'30%11 BST Iisrc +11 D 111 P 15118 THE ASHWORTH CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Fixed asset investments Listed investments Cost or valuation At 6 April 2023 Additions Disposals Revaluations .72J.OOG 1.149,995 (708,236) (437.864) At 5 April 2024 5,728,901 Net book value At 5 April 2024 5,728,901 At 5 April 2023 5, 725,(K)6 The historical cost of the listed investments at 5 April 2024 was £4,335,967 (2023.. £3,894,208). 10. Creditors: Amounts falling due within one year 2024 2023 Accruals and deferred income 12,618 11,370 Page 13
T¢th W. WYBR4THT.3KKG 21 224 17.'30%11 BST Iisrc +11 D 111 P 16118 THE ASHWORTH CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 11. Statement of funds Statement of funds - current year Balance at 6 April 2023 Transfers inlout Gainsl Balance at 5 (Losses) April 2024 Income Expenditure Unrestricted funds General Income Fund Capital Fund 199,754 1232,683) 32,929 {32,929) 5,839,224 14,169 5,820,464 5,839,224 199,754 1232,683) 14,169 5,820,464 The General Income Fund exists to further the general objects of the Charity. The primary purpose, at present. of the Capital Fund is to provKle the future income to enable the Trustees to carry out their objects'ves. Statement of funds - prior year Balance at l Apnl 2022 Transfers in/out Gains/ Balance at (Losses) 5 April 2023 Income Expenditure Unrestrlcted funds General Income Fund Capital Fund 194, 705 (228,631) (31,905) 33,926 (33,926) 6,253,593 (348.538) 5.839,224 6,253,593 194, 705 (260,536) (348,538) 5,839,224 Page 14
T¢th W. WYBR4THT.3KKG 21 224 17'.30%11 BST Iisrc +11 D 111 P 17118 THE ASHWORTH CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 12. Summary of funds Summary of funds- current year Balance at 6 April 2023 Transfers inlout Gainsl Balance at 5 (Losses) April 2024 Income Expenditure General funds 5.839.224 199.754 {232,683) 5,820.464 Summary of funds- prior year Balance at l Apnl 2022 Transfers in/out Gains/ Balance at (Losses) 5 April 2023 Income Expenditure General funds 6,253,593 194, 705 (260,536) (348,538) 5.839,224 13. Analysis of net assets between funds Analysis of net assets between funds - current period Unrestricted funds 2024 Total funds 2024 Fixed asset investments Current assets Creditors due within one year 5,728,901 104,181 {12,618) 5,728,901 104,181 112,618) Total 5,820,464 5,820,464 Analysis of net assets between funds - pricr period Unrestricted funds 2023 Total fvnds 2023 Fixed asset investments 5, 725,006 125,588 (11,370) 5, 725,006 125,588 (11.370) Current assets Creditors due within one year Total 5,839,224 5,839,224 Page 15
T¢th W. WYBR4THT.3KKG 21 224 17.'30%11 BST Iisrc +11 D 111 P 18118 THE ASHWORTH CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 14. Related party transactions During the year accountancy fees of £6,720 P023: £6,600) were payable to James Cowper Kreston for services provided to the charty. The Trustee Mr l D Miles was a partner of James Cowper Kreston during the prevuS year. Mr l D Miles retired from James Cowper Kreston on 30 April 2023 and conb'nues to provide consultancy services to the firm. During the year a grant of £nil (2023: £3,000) was pald io Wldows Righis Iniematlonal. Dr W Momen Is a Trustee of the charity and is a Trustee of Widows Rights Intemational. Page 16