WEAVERS FULLERS & SHEARMEN CHARMES LIMITED ILlmlt8d by Gu8rantso1 UNAUDITED FINANCIAL STATEMENTS Year Endad 31 March 2022 CHARITY NUMBER 1052124 COMPANY NUMBER 2434328
VIEAVERS FULLERS & SHEARMEN CHARITIES UMITED YEAR ENDED 31 MARCH 2022 CONTENTS P•g• Legol & Administrative Information TIu8t889' Report 24 Indep8nd8nt Ex8mlner'8 R8POrt St8ternent of FSn&nclal A¢tlvltlo8 Balanc9 Sheet Noie8 to the Fln8ncial Statom8nts 9-11
WEAVERS FULLERS & SHEARMEN CHARrriES UMrrED LEGAL AND ADMINISTRAINE INFORMATION TRUSTEES H A Parkln l T Gardner J Gaisford (Flgsioned 1 July 20221 P Hilson IRasigned 1 July 20221 N Sprague R MBr8h (Appolnted 1 July 20221 J Brookes (Appointed 1 July 20221 SECREfAB Y Michelmore8 LLP (Resigned 28 Febru8ry 20211 Fl Thom89 IAppointed 28 February 20211 REGISTERED OFFICE BLssh & Co Llmlted 2 Bgrnfleld Crescent Exetar EX1 IQT INDEPENDENT EXAMINER C Dymond FCCA, AC& CTA 8ush & Co Limited 2 Barnlield Crgscent Exetor EX11aT 8ANKERS Lloyds B8nk Ple High Street Exeter soucrroRS Michelmores LLP WoodwBter Hou$• Pynes Hill Exeter EX2 5WR
WEAVERS FULLERS & SHEARMEN CHARITIES LIMITED TRUSTEES, REPORT YEAR ENDED 31 MARCH 2022 GOVERNANCE Thi5 report a160 seNes as a dir6Ctors' report as required by company law. Thg Company wa8 incorporatsd in England and Wales on 20 October 1989 Ond Is 1Smltod by guaranteg und8r Company number 02434328. It is a registered Charity under number 1052124 and is governed by its M8morandum and Articles of Association. The directors of the charitable compBny I the ch8rity"18re its trustees for the purpose of charity law and throughout this report are collectively referred to a3 the trust88s. Trustees are appointed by the members ol the charitable company 8tt6nding the Annual General Meetino. Each year on8 ihird ol the Trusto69 retirg *rom office but ar6 eligible lor 18-el8Ction. Th8 number of tree$ sh811 not be less ihAn 3 nor more than 20. Th8 Truste8s de16got8 deusions to an ExacutSvo Committea of the Incorporation of W8avers Fullers & She8rm8n who are 8ppolnted annually. All administration functions are car¥i8d out bv the Clork. Th8 Tru$tee$ ere appointed from The Court of Asslstants of The Incorporation of Weavers Fuller8 & Sh¢arm¢n, who conB18t of promln8nt local bu81ne68 people who lJ6come essist8nts bv Invlt8tlon and ar8 provided with 8 lull history of the Charity, its objectives ond management pro¢edures. They are also Trugt889 of Tucker8 Ho11 IExeterl Llmited, charity number 0291764, ompany number 1885892. PUBUC BENEFIT STATEMENT The Trustees have revi8W8d the outcomes and 8chievements of our obleetives ?nd 8CtlvStl8$ for the ye¥r, to ensure they remain focused on our charitsble aims, and continua to deliver banelits to the public. We have complièd wilh the duty under the Charities Act 2006 10 hav8 du8 rogard to public benefit guidonce publi5h8d by th8 Commi8950n. OWECTS AND ACTNMES The obj•et ot the Charity 18 to relieve ¢0808 of need, hard8hip or di8tre88 8uffer8d by resld¥nts In the county of 08von, GRA MAKING POUCY Grant$ 8r8 m8d# to local Devon p8riyhe8 and a further grant is maée to 8 ch8rlty choson by the eurrent Mast8r ot the Incorporlon of W¥avers Fullers & Shearmen. ACHIEVEMENTS AND PERFORMANCE £10,497 12021.. £8.1001. including gift aid, has been raS88d in the financial year with further donations promlsed in fulur8 years. Total income for the year was £31,077 12021.. £23,21218nd tot81 expenditure £2.49312021.. £33,339). After gains on investmgnts. the net income for the year was £33,70512021.' £4,4021. Charitable payment iotalling £60012D21= £1.0001 were made during the post veer in re9pect of the ch8rity'$ main objective. Two gSfts totalling £60012021.. £6001 were made to local churches in two P8rishes in Devon. It Is anticipgted that a 8imiI8r 5evel of grants will be made nexi year.
WEAVERS FULLERS & SHEARMEN CHARrriES LIMITED TRUSTEES, REPORT YEAR ENDED 31 MARCH 2022 All work done on behalf of the charity by the Trustees and the Executwe Ctsmmltt6e was entlrelv voluntary. Thg eherities reseN8s are h¢ld and Invested to produce 08 high an Income ag possible without prejudicing the long term capital valu8 of the investments. At the year end the reserves amout)ted to £204.00812021 £170,303). In March 2020, the charity purchased a commercial propgrty in Exatèr for £274,515 fundad partly from the charity's own resource5 and by a £200,000 loan from a private iftdividual. The loan is interast free and repayable ovor 20 years. The reason for tho purch080 19 to enable a eompanv C8116d The Hair Academy to reloceto Its business withir* Exeter 83 it had to vacatè 11$ existSng premises. The Hair Ac8d8my, run by Mary Pugsley MBE. h8lp8 di88dvant8ggd young peopl8 in the local area to obtsin tr2ining, p8rtlcularly In the hair sector, enabling them to obtain skills that they can use to support thgmselvès in the luiure. This fit6 Wlth the alms and objectives of the charity to help young peop18 locally into thg workpl8C8. The Hair Acedemy enter8d into a 1S year commercial lea8e with the ehgrity as at 1 June 2020, the income from which will enobl$ the loan to be repaid and 8190 from which grants can be m£de. The ch8rlty renovated the building in the oarly months of 2020 pritsr to it t)eing occupied by The Hair Academy. Thi$ brc)ught the building up to stand8rd prior to the granting of the new lea86. Tho eh8rltl88 Investments comprlsè 8 holdlng In M&G Ch8rifttnd Units. The capital value ol inve8tmonts has increased in the year. The trustee9 aim to maintain tho1ovg1 of re88rv8S to ensure thal the income is suffi¢ignt to meet charitable givlt)g. RELATED PARTIES The charity ha$ common Trustee8 wlth Tu¢kers H811 (Exeterl Limited charities werg Sot up by the Incorporation of Wèavers Fullers & Shgarmgn. another charlty. 80th TRUSTEes RESPONSIBIUTIES IN REL4TK>N TO THE FINANCIAL 8TATEMENTS Company law r8qulres the trustees to prep8re financi81 statements for eo¢h financial year which show a true 8nd f8ir view of the state of aff8irs ol th& charity and its tot81 incom8 for that period. In pparIng the linanclal ststem8nt8 th8 trustees are required to,. select suitable a¢countSng policies and then apply them consistently.. make judgtsmonts and 8Stimate$ that ora reasonable and prudonL' state whother applicable aGcountSng $tsndards and gtotements of recommended pra¢tlce have been followed, subject to any deporturos disc105ed and explained in the financial statements: and prep8re the financial statemen19 on the going ¢oncern basis unless it is in8ppropr10te to pr8sume that the charity will continue in operational exi9tence. The trustees are rggponsible for keeping proper accounting records which disclosa with reasonable accuracy at ony time the financial position of the charity and to enable them to eftsute that the finan¢ial statements comply with the Companies Act 2006 and the Charities Act 2011. The Irusie85 are also responsible for safeguarding tho assets of the charity and hence for taking ¥easonable 5tot)s for prevention and detection of fraud 8nd other irregulartties.
STATUS OF REPORT This report, which has be8n prepared in accordan¢& with the special provisions of P8rt 15 of the Companies Act 2006 relating to 8mall companie8. wa3 approved by the Bo8rd on and si9ned on Its behalf. l Gardner Chalrman
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF WEAVERS FULLERS & SHEARMEN CHARMES UMITED I report on the accounts of the Charity for the tr ¢nded 31 M8r¢h 2022. which are set out on pages6to 11. RKp•ctl¥• Rwon8iblllti•s of TYust8•8 and Examlner The trustees (who are also the directors ol ihe company for Ihe purposes ol company lawl are responsible for the preparation of the accounis. The eharfty's trusteès consider that an audit is not reqUred for this year under Section 144121 of the Ch8rr(ies Act 2011 (the 2011 Aetl and that an Ind$pondent examination is needed. H8ving satisfied myself ihat the Charity ig not $ubjed t¢ audit undel company law and 18 ellgible for an independent ex8min8tion it i¥ my 3ponSIbl111Y to: 8xamine the 8coounts under section 145 of tho 2011 Act., to follow th& proc&d(Jr88 loid down in the G8ner81 Dlrectiong glven by the Charity CommigsSon und¢r Section 14515llbl of tho 2011 Act.. 8nd to 8tate wheiher partlcul8r m8tter8 hava com8 to my attèntlon. 8a81s of Ind8p•nd•nt Examln•r'8 Rèport My examination was carried out in accordance with the General DirectSong given by tha Ch8rlty Commission. An examination includes a review of th8 accounting reeords kept by the ¢harity and comparison of the accounts presented wilh those record8. It also Includes conslderatSon ol any unusu81 items or disclosures in the $¢count¥, und the seeking of ¢xplgnation8 from you a8 trustee8 ¢oncernlng any gu¢h matters. The pr¢¢edur$$ undertaken do not prtsvlde 811 th¢ ovidence thet would be required In an eudlt and, consequently, no opinSon 18 given as to whether the accounts present a '*ruo and fair view and the raport 1$ limited to those mattors Sgt gut in the st8tomgnt below. Ind•p•nd•nt Examln•r'8 Stst•m•nt In connection with my examination, no matter has come to my attention.. whSch give8 me r8880nable caLt$e to bellovo thaL In ony matorlal wpect, the requliements to keep aountIng records In accordance with section 388 of the Companies Act 2006,. 8nd bl to preparè 8ccouni8 whleh aeeord with the accounting records, eomply with ihe accounting requirementg of section 396 the Companies Act gnd with methods and prin¢iplo$ of the St8t•m&nt of R8comm8nd8d Prale6 Accountlng ané Reporting by Charities hgvè not beBn met or io whlch. in my Dplnlon. attenilon should be drawn In order io enable a proper understanding of the accounts to b8 reached. C Dym(md FC. ACA CTA Bush & Co Limlted Chartered Awouftt•n 2 B2rnfield Crescent Exeter EX1 1QT
WEAVERS FULLERS & SHEARMEN CHAAMES LIMITED STATEME OF FINANCIAL ACTIVITIES IINCLUDING INCOME AND EXPENDITURE ACCOUNTI YEAR ENDEO 31 MARCH 2022 Not• Unr•8trlct•d Incom• Fund• 2022 2021 INCOME FROM Donations and L•gè¢io8'. Gifts and Donations Gifi Aid Recoverable 8.506 1,991 6.500 1,600 Inv••tm•nts'. Rent received Dividends Recaived Interest Fleceived 17,000 3,580 12,030 3,079 TOTAL INCOME 31,077 23,212 EXPENDtruRE ON CharSt8blo Actlvltl•$ Grants Payable In Furth•rn¢• ol th• Ch•Hty Charitabl? Gi*tB Donations Supportcostr. Clerk's Foes Fees for Ind8pendent Examinatlon Property R8pair$ Insurenca Light and Heat Sundry Expenses L89814nd Profe6Bion81 Fees 000 600 eoo 1,000 12401 1,520 1.657 28,729 223 13 73 775 TOTAL EXPENDITURE 2.493 33.339 ILOSSESIIGAINS ON INVESTMENTS 5.121 14.529 NET IEXPENDITUREIIINCOME 33,70S 4.402 Fund b&lances brought forw8rd 170.303 165.901 Fund Balanc•s carrl•d fonNard 204.008 170.303 The notss on pages 9 to 11 form part of th858 financia5 ststements.
WEAVERS FULLERS & SHEARMEN CHARITIES UMITED BALANCE SHEET IRegistsred Number 24343281 AS AT 31 MARCH 2022 2022 2021 FIXED ASSETS Inv8stm8nt Prop8tty ¥tments 2B3A52 75.398 283,452 70.277 358,850 363,729 JRRENT A%8grs Cash at Bank Glft Aid Debtor 43.120 2.103 21,414 1,600 45,223 23,014 CURAeNT LIABILITies Codltors AccrualB D•ftrrrod In¢om8 Loan 4,288 1,527 4.260 10,QOO 1,690 4,260 10,000 20,066 18,440 NET CLVIRENT ASSET8 26,168 8,5?4 LQNG.ThM UAWLmE8 Loan 1180,0001 1190,0001 NET AssEr8 204,008 170.303 RESERVES Unroutrictod fund8 10 204,008 170,303 Th& fin8nclal ststements were &pproved by thg Bo?rd of Trust•8# on Tha company 18 8nlltled to exemption from audli under the CharStles Act 2011 and Sectlon 477 of thé Companies Act 2008 for the Year anded 31 March 2021. The *rember8 have not required tha ctsmpany to obialn an 8udlt of Its financlal statements lor thè ygor ended 31 March 2021 In accordance wlth the Charities Act 2011 and So¢tion 476 of the Compan188 Act 2006. The director8 &cknowl&dg8 Ihelr r86pon61biliti8s for.. ensuring that the company k9ep8 8ecountlng records which comply with Sections 388 and 387 of 7he Companigs Act 2006 8nd bl pr8p8Ting financial st8temenis which give a tru8 and fair vi8w of tha ststo of affairs of the comDany as St 1hè end tsf aach flnanclal year and of its Profit or 1088 for eHch fin3ncial year in 8¢cordanc8 Wlth the reouir8ments of Sections 394 and 395 and which otherwi88 comply with the reauirement8 of the CompaniES Act 2006 relating to financial $t8tsments, 80 lar as 8pplicable to tha compans,.
The fin8Wi81 statsTHents hav8 b89n prepared In accordance with thé provislons applieabla to companies subject to ihe small ¢omp8ni8s regime. Th8 fin8ncial 6tstsments w8rs approvod by the board of trustees on ................................. and warè 6igned by." l Gardner (Trusteel The notee on p8986 9 10 11 form part of thesè fingn¢ial 8tstem8nt8.
WEAVERS FULLERS & SHEARMEN CHARITIES LIMITED NOTES TO THE FINAN(XAL STATEMENTS YEAR ENDED 31 MARCH 2022 ACCOUTrrnNG POUCIES Acwunting Convohtio The finan¢ial statem8nts of the charitabl8 company. which is a public benefrt entity under FRS 102. h8ve been pr8P8red in accordencg Wlth th8 Ch8rit1è8 SQRP IFRS 1021 'Accounting and Reporting by Charities.. Statement ol Recommend8d Pr8ctlC8 8pplic8ble to charitles preparing their accounts in accordance with the Financial Reportino Standard applicable in Ihe UK and Republlc of Ireland IFRS 1021 leffective 1 J8nu8ry 20151,. Section 1A -Sm811 Entities" of Financial Reporting S1andard 102 'The Fln8nci31 Reponing Standard appliceblo in the UK and Republic of Ireland, and the Companies Act 2008. The fin8nci81 statements hyve been prepared under the htstorical cost convention with ihe exception of inv88tments which are included at market value. Golng Con¢•m The finan¢ial $t8tsments havo b86n prepared on a goino concern basis as there ara no material uncertaint188 about the Charity's abllity to ¢ontlnue operatlng. R•coqnltlon of Incom• and Expendituro Ineoming regources are Included in the f1nancf818ttM8nts when rtcèlv8ble. Re$ourc88 expended are recognisad In the period In whlch they are incurred, Inv••tm•nts Investmenis are stated at market value at tho b•lin¢e 9heet date and the galn or 105519 taken to the Statement ol Fin8nci81 Activities. Dgbtor8 Debtors ara included at the 88ttlement amount dug. Co8h &t bank Cash at bank include¥ ¢g¥h and ghort term highly liquid inv8gtmentg Wlth a short maturity of threg months or le85 from tho d8t¢ of openSng of the dep091t. Creditorn Creditors 8re recognS8ed where the charity has a present oblig8tion arislng from 8 p88t èvent that will probably result in the tfansfor of funds to 8 thlrd party and the amount due lo settle thg oblig8tion can bo moasured or estimated Teli8bly. Creditor8 are re¢ogni8gd 81 their 88ttlement amount. Gr•nts Payabl• Gr8nt8 pay8ble are charged in the year when the ¢)ff&r 1$ conveyed to ihe reclpient. Fln8nclal Instrumonts The charity only has linancial assets and liabilities of 8 kind that quelify 8$ b8$i¢ fift8n¢i81 snstruments. B8$ic financi?1 instruments arg initially recoanised at tr8n$aetit)n v81uè 8nd SUDS8qU8ntly m8#sur•d at thair settlement value. TAXATTON Thg Charitable Company is exempt from corporation tax on its charitable activittes.
WEAVERS FULLERS & SHEARMEN CHARMES LIMrrED NOTES TO THE FINANCIAL STATEMEW YEAR ENDED 31 MARCH 2022 TRUSTEES. REMUNERAYION ANO EXPENSES No remuner8tion directly or indirectly out of the funds of ihe ¢h8rity was paid or peyable for the yearlo any trustee or to 8ny person or persong known to b8 ¢onn8¢ted with 8ny of them. No reirnbur5ement of expen888 h88 b88n made or Ss du¢ to be m8d8 to 8ny of the twstees in ro$pect of the year. AVERAGE EMPLOYEES The av8ro90 number of employees durlno the year was nil12021: nlll. GIFfs. GRANTS AND DONATIONS PAYABLE 2022 Clft¥ Vicar of Stokenham VIc8r of Ottery St MBry 300 300 300 300 600 600 Donatlonl Hospice Carg Mayors Charity Halr 8t the Academy 1,000 100 500 600 1,0 FIXED ASSET8 Inv•8tm•nt Prnp•rty Balan¢9 gt 1 Aprll 2021 283,452 8al8nce at 31 M8rch 2022 283.452 The 5nve8tment prep•rty w08 valued on an op•n mark•l basis on 31 M8rch 2022 by the trusts. Ir+lVESTMENTS These consist of 4.7?2.92 income units in The M & G Equities Investment Fund for ChBrlti•8 Icharilundl as lolluvr8'. Balanc8 at 1 April 2021 R8valualion to Market Value 70,277 5,121 8alanco ot 31 March 2022 75,398 Historic81 Cost at 31 March 2022 49,847 10
WEAVERS FULLERS & SHEARMEN CHARrriES UMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022 CREorroRs: AMOUNTS FALLING DUE WffHIN ONE YEAR 2022 Crgditors Gifts payable Accruals Deferred Incomé Loan 3,688 600 1,527 4,260 10,000 600 1,590 4.250 10.000 20.065 18,440 CREDITORS,, AMOUPnS FALUNG DUE APTER MORE THAN ONE YEAR 2022 2021 Loan 180,000 190,000 Thls108n is Interest free with annual repayments of £10.000. 10. RESERVES Unr•8tyl•d Incom• Fund• Incomfr and EMp•ndltur• Balan brought foward 170.303 Not incoming resources befor¥ other Recognised gains and IoB388 28,584 Unrealisod g8inlllog81 on rgvaluation ol 8880ts held for investment purposes. 5,121 Balance ¢$rried forward 204,008 11. COMPANY UMITED BY GUARANTEE Ev8ry member of th8 comp8ny undert8keB to ¢ontribute guch amounts 88 may ba rèqulrad (not excèoding £1 I to the assets of the company if it should be wound up while hg 18 member or within one year after he ceases to be a member, for payment of the cornp8ny'$ debts and liabilities coNracted before he ceases to be 8 member, and of the costs. charges and expenses of winding up. and for the adju*meni of the rights of the ¢ontributories among themselves.