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2023-12-31-accounts

Charity registration number 1059736

BRIAN WILSON CHARITABLE TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

BRIAN WILSON CHARITABLE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mrs R E Downes
Mrs M V Roberts
Mr J B Pickup
Mrs M L Occleston
Charity number 1059736
Principal address 36 Landswood Park
Hartford
Northwich
Cheshire
CW8 1NF
Independent examiner Fran Johnson BSc BFP FCA
WR Partners
Drake House
Gadbrook Park
Northwich
Cheshire
CW9 7RA

BRIAN WILSON CHARITABLE TRUST

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of fnancial activities 4
Balance sheet 5
Notes to the fnancial statements 6 - 12

BRIAN WILSON CHARITABLE TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

the financial statements and comply with the charity's deed of trust, the 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 Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)

Objectives and activities

The objectives and aims of the charity are to make payments to and for purposes of such Charities and Charitable Institutions in such shares between them, if more than one, as the Trustees shall from time to time think fit with power to apply the whole or any part of the income or capital of the trust fund in or towards the establishment of any charitable institution or organisation.

Public bene�t

Grants totalling £185,750 (2022 £238,500) have been made during the year to charities involved in a wide range of good causes. By carefully selecting the charities to which grants are made the trustees aim to ensure that the public benefit is maximised.

The trustees have had due regard to the guidance published by the Charities Commission on public benefit.

Grantmaking

Grants are made to charitable organisations after going through a stringent checking process.

Volunteers

The Charity does not recruit or have a need to recruit volunteers currently.

Achievements and performance

Fundraising activities

The charity does not seek to Fundraise but instead looks to maximise returns from Investments and uses the services of a Professional advisor namely Rathbones.

Investment performance

The charity is seeking to maximise its Investment Performance in a tough economic climate. Rathbones are responsible for advising on Investment decisions and the Trustees monitor the rate of interest received on the deposit account and seek to maximise the rate received where possible.

Financial review

The Charity funding has come from the estate of the Late Brian Wilson after whom the Charity is named. No further funding sources are anticipated to be received in the future.

BRIAN WILSON CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

The charity aims to distribute its reserves to local and national charities by way of grants.

organisation.

charities to continue at normal levels for the foreseeable future.

are in place to mitigate exposure to the major risks.

The trustees are continuing to consider applications from a number of charitable institutions which require funds.

Structure, governance and management

The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.

Mrs R E Downes

Mrs M V Roberts Mr J B Pickup Mrs M L Occleston

with the necessary skills can be recruited as required.

The four Trustees meet on a quarterly basis to approve donations, consider requests for grants and carry out the administration required for the charity to operate successfully. Day to day transactions are carried out by Mr J B Pickup.

New Trustees receive training from existing Trustees and are also provided with details of the Trusts aims and objectives together with information from the Charity Commission website.

The trustees' report was approved by the Board of Trustees.

..............................

Mr J B Pickup Trustee Dated: ......................... 30/04/2024

BRIAN WILSON CHARITABLE TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF BRIAN WILSON CHARITABLE TRUST

(the charity) for the year ended 31 December 2023.

Responsibilities and basis of report

in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

with the examination giving me cause to believe that in any material respect:

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 financial statements to be reached.

Fran Johnson BSc BFP FCA WR Partners

Drake House Gadbrook Park Northwich CW9 7RA

20/05/2024 Dated: .........................

BRIAN WILSON CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted Unrestricted
funds funds
2023 2022
Notes £ £
Income from:
Investments 2 130,360 182,519
Expenditure on:
Raising funds 3 18,335 24,216
Charitable activities 4 188,680 241,714
Total resources expended 207,015 265,930
Net gains/(losses) on investments 10 215,744 (184,660)
Net movement in funds 139,089 (268,071)
Fund balances at 1 January 2023 4,033,892 4,301,963
Fund balances at 31 December 2023 4,172,981 4,033,892

All income and expenditure derive from continuing activities.

BRIAN WILSON CHARITABLE TRUST

BALANCE SHEET

AS AT 31 DECEMBER 2023

2023 2022
Notes £ £ £ £
Fixed assets
Investment property 11 165,000 165,000
Investments 12 3,938,954 3,741,845
4,103,954 3,906,845
Current assets
Cash at bank and in hand 71,233 129,091
Creditors: amounts falling due within
one year 13 (2,206) (2,044)
Net current assets 69,027 127,047
Total assets less current liabilities 4,172,981 4,033,892
Income funds
Unrestricted funds 4,172,981 4,033,892
4,172,981 4,033,892

30/04/2024

.............................. Mr J B Pickup Trustee

BRIAN WILSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

Charity information

Brian Wilson Charitable Trust is an unincorporated charity governed by a deed of trust.

1.1 Accounting convention

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 Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

accounting policies adopted are set out below.

1.2 Going concern

charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

1.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Incoming resources comprise returns on investments in the form of rents, dividends and interest. Rental income is recognised as it becomes due and income from dividends and interest are recognised when they are paid.

BRIAN WILSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

1.5 Resources expended

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.

shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

1.6 Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Cash and cash equivalents

Cash and cash equivalents 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 overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

BRIAN WILSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

(Continued)

and bank loans 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.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations 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.

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2 Investments

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Rental income 7,567 7,740
Income from listed investments 114,212 173,875
Interest receivable 8,581 904
130,360 182,519

BRIAN WILSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

3 Raising funds

Unrestricted
funds
2023
£
Investment management
18,335
18,335		 Total
2022
£
24,216
24,216

4 Charitable activities

Property costs
Insurance
Grant funding of activities (see note 6)
Share of support costs (see note 5)
Share of governance costs (see note 5)		 2023
£
135
406
541
185,750
128
2,261
188,680		 2022
£
719
273
992
238,500
174
2,048
241,714

BRIAN WILSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

5 Support costs

Support costs
Support
costs
Governance
costs
£
£
Bank charges
128
-
Postage
-
-
Independent
examination fee
-
2,261
128
2,261
Analysed between
Charitable activities
128
2,261		 2023
Support
costs
Governance
costs
£
£
£
128
124
-
-
50
-
2,261
-
2,048
2,389
174
2,048
2,389
174
2,048		 2022
£
124
50
2,048
2,222
2,222

Governance costs represent payments to the Independent examiner of £2,261, (2022- £2,048) for the independent examination of the financial statements.

6 Grants payable

During the year the charity paid 46 grants totalling £185,750 to local charities (2022: 22 grants totalling £238,500).

7 Trustees

the charity during the year.

8 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
Total - -

There were no employees whose annual remuneration was more than £60,000.

BRIAN WILSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

9 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

10 Net gains/(losses) on investments

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Revaluation of investments 216,920 (180,683)
Loss on sale of investments (1,176) (3,977)
215,744 (184,660)

11 Investment property

Investment property
2023
£
Fair value
At 1 January 2023 and 31 December 2023 165,000

Investment property comprises freehold residential property. The fair value of the investment property has been arrived at on the basis of a valuation carried out on 19 January 2017 by Meller Braggins Chartered Surveyors, who are not connected with the charity. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

property since the last valuation.

BRIAN WILSON CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

12 Fixed asset investments

Managed Fund
£
Cost or valuation
At 1 January 2023 & 31 December 2023 3,741,845
Carrying amount
At 31 December 2023 3,741,845
At 31 December 2022 3,741,845

Fixed asset investments revalued

The investments comprise a managed fund which is valued at open market value. The historic cost of the investments is £2,716,234.

13 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
2023 2022
£ £
Accruals and deferred income 2,206 2,044

14 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

Document Activity Report

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