The Calmcott Trust Annual Report and Financial Statements for the year ended 5 April 2024 Charity Commisslon Reference Nurnber 1058522 Calm Cottage Malton Road York Y032 9TH
The Calmcott Trust Year ended 5 April 2024 Contents Trustees, Report 2105 Independent Examiner's Report Slalemenl of Financial Activities 8alance Sheet Notes lo the Financial Slalemenls 91012
The Calmcott Trust Trustees, Report for the year ended 5 April 2024 Legal and administrative information Charity number.. 1058522 Trustees.. Jane Barbara Ingham (chair) Philip William Ingham Independent Examiner.. Karen Rae, Armstrong Watson LLP Accountants.. Armstrong Watson LLP Third Floor 10 South Parade Leeds LS1 5QS Bankers: Bank of Scotland plc 33 Old Broad Street London BX2 1 LB Investment Managers.. Ralhbone Investment Management 1 Curzon Street London W1J 5FB Princlpal address.. Calm Coltage Mallon Road York Y032 9TH Solicitors.. Wrigleys LLP 3 Wellington Place Leeds LS14AP The Trustees present their report together with the financial statements of the charity for the year ended 5 April 2024. The financial slaternents have been prepared in accordance with the accounting policies sel out in note 1 to the accounts and comply with the charity's trust deed, the Charities Act 2011, the Charities (Accounting and Reports} Regulations 2008 and the Statement of Recommended Praclice"Accounting and Reporting by Charilies" (Charities SORP (FRS102}1. Objectives and activities The object of the trust in accordance with the trust deeé is lo make distributions lo such charitable institutions or purposes as the trustees in their absolute discretion select. Donations are made al the dis¢relion of the Trustees and charitable donations are normally made lo health, arts, education and social need charitie5. Donations lo individuals will not be considered. Appeals should be in writing only to the trust managers. Unsuccessful appeals will not necessarily be acknowledged.
The Calmcott Trust Trustees, Report leontinuedl for the year ended 5 April 2024 Strategies for achieving objectives The trust is managed by the Trustees and policy decisions are determined by consensus The capila,. fund ',s Invested in a portfolbo of equity based quoted investments Inveslmenis are managed by Ihe invesimenl manager on a discretionary basis with the objective of obtaining an accep12ble leve5 of income with a rtsasonaDl• proFppci ni medii Im-Ip.rrn ranilal growth Appropriate policies are determined to achieve a balanced investment strategy iaking account of the investment risks to which the portfolio is exposed. Grant-making poll¢ies Grants will normally be made out of incorne and not capital. The Iruslees may, however, al thelr discretion, use the capital of the trust for charitable purposes. Al the Iruslees, discretion, some charities are supported on a regular basis, but the Iruslees will also consider individual appeals on a one-off basis. The grants lo be awarded are decided al the Iruslee meetings. Achievements and performance Maln achievements of the charity The year proved successful in terms of the number of grants awarded. The grants paid in the year are lisled in note 7 to the financial slalemenls. Public beneflt statement The Trustees of the Calmcoll Trust confirm Ihal they have complied with their duly under section 17 of the Charities Act 2011 to have due regard lo the Charity Commission's general guidance on public benefit. Flnancial review Going ¢on¢ern After making appropriate enquiries, the Iruslees have a reasonable expectation that the trust has adequa18 resources lo continue in operational existence for the foreseeable future. For this reason, they continue lo adopt the going concern basis in preparing Ihe financial slalemenls. Furlher details regarding the adoption of the going concern basis can be found in the accounting policies. Resarves policy 11 is the policy of the charity lo maintain unreslricled funds, which are the free reserves of the charity, to ensure that management and admini51ralive expenditure for twelve months can be mel out of undislribuled investment income. The trustees review both the reserves policy and the reserves position on a regular basis. The Trustees aim lo maintain the existing inveslmenl portfolio al currenl levels and lo make charitable donations in line with their income each year. Reserves al 5 April 2024 amounted to £1,S67,605 and are held for the generation of income and furtherance of the charity's objeclives. Investment policy There are no reslriclions on the Iruslees, powers lo invest. The Iruslees sel the inveslmenl strategy taking inlo account the income requirements, fisk profile and the inveslmenl m3nager's view of economic market conditions. The portfolio risk profile is medium. The trust aims lo obtain a balanced return from capital growth and income. This policy Is reviewed annually by Ihe Iruslees and the portfolio is rnonilofed by them regularly
The Calmcott Trust Trustees, Report Icontinuedl forthe year ended 5 April 2024 Flnan¢lal activities and affair5 Investment income during the year amounted lo £32.57812023'. £31,572). This represents a yield of 2.2% on the average market value of the investments during Ihe year. The trust made charitable donations of £23,396 during the year12023'. £26,054) and total expendiluTe for the year was £35,311 12023- £37,458). Overall n61 expénditure for the year was £2,733 (2023. £5,866). Net gains realised on the sale of investments amounted to £20,73512023'. nel losses of £18.0831 and nel unrealised gains allribulable lo thé change in the market value of investment5 amounted to £100,410 (2023: net losses of £148,410). The overall net increase in funds for the year is £118,412 resulting in total funds of £1,567,605 to carry forward a15 April 2024. During the year under review, Ihe charity purchased investments at a cost of £346.111 and received proceeds of £353,468 from the sale of Investments. The market value of the charity's investments at 5 April 2024 amounted lo £1,543,711 12023.. £1,429,922). After taking into account the nel realisations during the year this represents a gain of 7%. The investments of the trust are administered by the porffolio managers on a discretionary basis. Environmental and ethical considerations are given on an individual basis when changes lo Ihe inveslmenls are discussed with the managers. The Trustees receive no remuneration and charge no expenses whilst acting in their capacity as Iruslee or otherwise. History and constitution The trust is an unincorporated trust consliluled under a trust deed dated 2n4 September 1996. The trust was established by an initial gift from Mrs J 8 Ingham and has been enhanced by 8ddilional funds received in satisfaction of her reversionary interest in the R M Burton 1956 Charitable Trust. Mrs J B Ingham settled funds upon the Iruslees for such charitable inslilulions, objecls or purposes as the Iruslees, in their absolute discretion, think fit. The trustees have an option lo accumulate income for a period of 21 years under the trust deed. The Iruslees have chosen an accounting reference dale of 5 April lo coincide with the lax year and lo facililale the efficient repayment of any incorne lax suffered. The trust does not fund raise and seeks lo continue the philanthropic intentions of the donor through the careful stewardship ol the existing resources. The trust is registered with Ihe Charity Commission under numbér 1058522. Structure, management and governance The Calmcolt Trust is a registered charily. number 1058522, and Is consliluled under a Trust Deed. The Iruslees who have served during the year are sel out on page 2. The board of trustees 15 responsible for the appointment of Iruslees. The tru51 is managed by the Iruslees who hold meeling$ on a regular bas1S.
The Calmcott Trust Trustees, Report Icontinuedl for the year cnded 5 April 2024 Structure, management and governance IconLinuedl No Iruslees remuneralion or expenses were paid Ir) the year. There are no related oaty Iransaclions. Methods of appointment or election of Trustees The management of the charity is the responsibility of the trustees who are elected and co-opted under the lerms of the Trust Deed. Risk managemènt The charity's Trustees have considered the majof risks lo which the trust is exposed to and lake steps lo lessen them. Plans for the future The trust will continue lo support charitable organisations that benefit health. arts, education and social needs. Trustees. responslbillty for the financial statements The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounling Standards (United Kingdom Generally Accepted Accounting Praclicel. The law applicable lo charities in ErTrgland & Wales required the Trustees lo prepare financial slalemenls for each financial year which givè a true and fair view of the slate of affairs of Ihe charity and of ils incoming resources and application of resources. including ils income and expenditure. for that period. In preparing the financial slalements, Ihe Trustees are required lo.. select suitable accounting policies and apply them consislenlly; observe the methods and principles of the Charilies SORP IFRS 102)., make judgements and accounting eslimales Ihal are reasonable and prudent., slate whether applicable UK Accounting Standard IFRS 1021 have been followed, subject to any material departures disclosed and explained sn the financial slalemenls.. prepare financial slalemenls on the going concern basis unless il is inappropriate lo presume Ihal the charity will continue in operation. The Truslees are responsible for keeping adequate accounting records that are sufficient lo show and explain the charily's transactions and disclose with reasonable accuracy al any lime the financial position of the charity and enable them to ensure that any financial slalemenls comply with the requirements of the Chaflties (Accounting and Reports) Regulalions 2008 and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and Iof kIng reasonable steps for the prevention and detection of rraud and olher irregularities. Trustees Approval The Trustees. Report was approved by the Trustees and signed on their behalf by Jane Ingham JLI.'l j L> IiigiiJrri Trustee Dale.. 3110312025
The Calmcott Trust Sndependent Examlner's Report to the Trustees for the year ended 5 Aprll 2024 Charity Commission Reference Number 1058522 I report to the Iruslees on my examination of the financial statements of thè Calm¢ott Trust on pages 7 10 12. Responsibilities and basis of report As the charity Iruslees of the Trust you are responsible for the preparation of the accounts in accordanc6 wilh the quirementS of the Charities Act 2011 {'Ihe Charities 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(5llbl of the Act. Independent exarniner's statement I have completed rny examination. l ¢onfirm no material matters have come lo my allenlion in connection with the examination giving me cause lo believe that in any material respect.. the accounting records were not kept in respect of the Trust as required by section 130 of the Act,. or the accounts do not accord with those records., or the accounts do not comply with the applicable requiremenis concerning the form and conlenl of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other Ihan any requiremènt that the accounts give a 'lrue and lair. view which is not a maller considered as parl of an independent examination. I have no ¢on¢erns and have come acros5 no other mallers in connection with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached. This report is made solely lo the Charity's Trustees, as a body, in accordance with Part 4 of the Charities {Accounls and Reports) Regulations 2008. My work has been undertaken so th311 might slate lo the Charity's Trustees those mallers l am required lo stale lo them in an Independent Examiner's Report and for no olher purpose. To the fullest exlenl permilled by law, I do not accept or assume responSiblI1Y lo anyone other than the Charily and the Charity's Trustees as a body, for my work or for this report. (Iceii Rclè I ityl<il Jl, 2025 16.'14 GlvlT+ll Karen Rae FCCA Independent Examiner Armstrong Walson LLP Third Floor 10 South Parade Leeds LS1 SQS Dale 3110312025
The Calmcotl Trust Statement of Financial Activities for th e iiear nnded 5 April 7024 Unrestricted funds Capital 2024 Income Total Total 2024 2024 2023 Note Income and expenditure Income Income frorn investments Deposit interest 32.160 418 32.160 418 31,370 202 Total income 32,578 32,578 31,572 Expendlture Charitable donations 23.396 23,396 26.054 Admini51rallve expenditure Accountancy and independent examination Inve51menl management 1,87S 8,165 1.875 3,750 8,165 3,450 7,954 Total expenditure 10,040 25,271 35.311 37,458 Net in¢omel{expenditural 110,0401 7,307 12,7331 15.8861 Other recognised gains and losses Gains on charitable investment assets Realised gainslllossesl on disposals Unrealised gainslllossesl on revalualion 20,735 100,410 20,735 100.410 118,0831 1148.4101 Total other recognised gains 121,145 121,145 1166,4931 Recon¢illation of funds Nel movernenls in funds Fund5 brought forward 111,105 1,307,112 7,307 142.081 118,412 1,449,193 1172,379} 1,621,572 Funds carried forward 1,418,217 149,388 1.567.605 1,449,193 The slalernenl of financial activities includes all gains and losses in Ihe year and Iherefore a stalernenl of lola recognised gains and losses has not been presented. iee noie b" on page 11 ror ine noie or n1510ricai cost Income ano expenijiiure. I ne noies on pages Y io I2 Torm pari or Inese iinanciai siaiemenis.
The Calm¢ott Trust Balance Sheet as at S April 2024 Unrestrtcted funds Capital fund Income fund Total Total 2024 2024 2024 2023 Note FSxed assets Inveslmenls 1,543,711 1,543.711 1,429.922 Current assets Cash held by investment adviser Cash al bank 16,007 {137,4901 {121,4831 1,910 149,353 17,917 11,863 18,448 6.255 151,263 29,780 24,703 Credltors.. Amounts falllng due withln one year 4,011 1,875 5,886 5,432 Net current assets (125,494} 149,388 23,894 19,271 Net assets 1.418,217 149,388 1.567,605 1,449,193 Funds 1.418,217 149,388 1.567,605 1.449.193 The notes on pages 9 to 12 form part of these financial 51alemenls. The financial slalemenls were approved by the Iruslees and signed on their behalf by: JkniwITIll Jane Ingham Trustee Dale. 31
The Calmcott Trust Notes to the f inancial statements for the year endod 5 April 2024 Accounting policies Charity inlormation The Calmcol! Trust is a charity WhCh 1s regislered with the Charity Commission for Englarid and Wales under the registered number 1058522. The principal address is Calm Collage, Mallon Road, Vr%rk., Y03? 9TH. Tne. r.nArily Is a oublic benefit enlily Basis of a¢¢ounting The financial slalement5 are prepared in accordance with FRS102 and The Charities SORP IFRS1021, and are in complian¢e with the Charities (Accounts and Reports) Regulations 2008 issued under the Charities Act 2011. The financial slalemenls are prepared under the historical cosl convention, modified lo include investments al fair value. The financial slalemenls are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial slal8menls are rounded lo the nearest £. Going concern There are no material uncertainties about the charity's ability lo continue as a going concern for a period of al least 12 months from the dale of approval of the accounts. The charity has adequate reserves lo meet its liabilities as they fall du8. Income Oonalions are accounted for when the charity becomes unconditionally enlilled lo the income. Investment income is slated nel of unrecoverable foreign lax and is accounted for as and when received by the charity. All other income is accounted for in the financial slalemenls on an accruals basis. Expenditure on charitable a¢tlvltles Charitable grants are included in the financial statements as and when unconditionally commilled by the Irusl. Oiher expenditure Other expenditure is included in the financial slalernenls on an accruals basis. Taxation The Charity is exempl from income and capital gains tax to the exlenl that income and gains are applied for charitable purposes, The charity is able lo recover income lax deducted al source from investment income. The charity Is unable lo recover value added tax on ils expenditure and accordingly expenses are shown gross of value added lax. Investments nveslmenls are slated in the balance shéet at their open market value. Both realised and unrealised ga1ns and losses on investments are included in other recognised gains and losses on the Slalement of Financial Aclivilies. Realised gains and losses on investments are calculated as the difference between disposal proceeds and carrying value al Ihe dale of disposal. Carrying value is the sum of market value brought forward al the beginning of the accounting period and the cost of subsequent acquisilions. Trustees. remuneration None of the Iruslees receive any remuneration for Iheir work as a trustee.
Tho Calm¢ott Trust Notes to the financial statements (continued) for the year ended 5 April 2024 3. Income from investments Investment income arose from the following sources.. 2024 2023 United Kingdom Companies Collectives Government bonds Overseas Companies Government bonds 4,812 17.770 1.592 5,142 16,134 585 5.789 2.197 6,941 2,568 32.160 31,370 4. Investments 2024 2023 Market value brought forward Additions al cost Revaluation lo carrying value Disposal al carrying value Market value carried lorward 1.429,922 346,111 100,410 332,732 1,543.711 1,616,604 199,454 1148,4101 237,726 1.429,922 Historical cost 1,147,565 1,130,734 All inveslmenls are lisled on a recognised slo¢k exchange and are held within the following categories.. 2024 2023 United Kingdom based org8nisalions.. Companies Collectives 312.643 523.157 835.800 379,261 580,922 960,183 Overseas based organi5alions'. Companies and collectives 707,911 1,543,711 469,739 1,429,922 nveslmenls are held in nominee accounts on behalf ol the Iruslees bul in all other respects are considered lo be directly held inveslmenls. 5. Creditors 2024 2023 Investment management fees Accounlancy and examination fees 2.136 3,750 5,886 1,982 3.450 5,432 10
The Calmcolt Trust Notes to the financial statements Icontinuedl for the year ended 5 April 2024 i Ote of nislorical cost Income ano e-pendilure 2024 2023 Nel expendilure lor the year Re31ised gains on inveslrneni% calculated using cost 12,7331 24,458 15.8861 1,938 Historical cost income and expenditure 21.725 {3,9481 Difference beiween the historical cost gain arising from Ihe realisalion of investments and the actual gain calculated using carrying values (3,723} 120.0211 Unrealised gainl{loss) on revaluation of investments 100,410 1148,410} Movement in funds on Statement of Financial Activities 118.412 {172,379) 7. Charitable donations During the year ended 5 April 2024 grants amounting lo £23,396 were made lo charitable inslilulions 12023.. £26.0541. A list of Ihe individual recipients of the grants analysed by seclor is shown below and on page 12. Conservation Conservalion Volunteers The Jewish Museum World Monuments Fund York Archaeological Trust York Civic Trust York Historic Churches Trusl yorkshi Arboretum 1.000 1.000 200 26 50 500 3,300 6.076 Education and arts Accessible Arts Baildon Imagination Library Friends of Opera North Leeds Arl Collective Northern Ballet Northern Aldborough Feslival Ryedale Festival Trust The Friends of Yag Yorkshire Ballet Yorkshire Music Future Fund 1.000 600 200 100 600 50 3.600 120 1.500 50 7.820
The Calmcott Trust Notes to the financial statements Icontinuedl for the year ended 5 April 2024 Charitable donations Icontinuedl Health Candlelighlers Dementia Forward Great Ormond Sireel Aospilal Leeds MIND Macmillan Cancer Support Marie Curie Tommy 5 500 200 1,000 1,000 1.000 100 1,000 4,800 Social Welfare Charle WalSer Trust Coram Future Hope UK Groundwork Hull Hope and Homes lor Children Nightingale Hammerson SASH Youth on the Move Zarach 1.000 1.000 100 300 200 500 500 100 500 4.200 Thlrd World and Overseas Karen 4illlribes 500 500 Funds The capital fund comprises investment assets held lor the generation of income. The Income fund comprises assets lo ILind charitable don81ions. Th8 Irusiees are free lo use both Ihe income and capital funds accordance with the objects of the charity. Related party transactions There were no related party transactions during the year