Charity registration number 1059736
BRIAN WILSON CHARITABLE TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
BRIAN WILSON CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Trustees Mrs R E Downes Mrs M V Roberts Mrs ML Occleston MrJ B Pickup Charity number 1059736 Principal address 36 Landswood Park Hartford Northwich Cheshire CW8 INF
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 offinancial activities | 4 |
| Balance sheet | 5 |
| Notestothefinancialstatements | 6-13 |
BRIAN WILSON CHARITABLE TRUST
TRUSTEES’ REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their annual report and financial statements for the year ended 31 December 2024,
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to 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 benefit
Grants totalling £140,000 (2023 £185,750) 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.
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BRIAN WILSON CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
The charity aims to distribute its reserves to local and national charities by way of grants.
The Trustees keep sufficient reserves in an instant access account to meet day to day running costs of the organisation.
The Trustees are confident that the charity has sufficient reserves to enable the payment of grants to local charities to continue at normal levels for the foreseeable future.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems 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.
The trustees who served during the year and up to the date of signature of the financial statements were: Mrs R E Downes
Mrs M V Roberts
Mrs ML Occleston MrJ B Pickup
The Trustees are well connected in the Local Business Community and are confident that new Trustees 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 MrJ 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.
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Boner~Trustee
Dated: 4 June 2025
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BRIAN WILSON CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF BRIAN WILSON CHARITABLE TRUST
| report to the trustees on my examination of the financial statements of Brian Wilson Charitable Trust (the charity) for the year ended 31 December 2024.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
| report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 _ the financial statements do not accord with those records; or
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3 the financial statements 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 fair view which is not a matter considered as part of an independent examination.
| 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.
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Fran Johnson BSc BFP FCA
WR Partners
7
Drake House
Gadbrook Park Northwich
CW9 7RA
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Dated: ...6.2.6:.25
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BRIAN WILSON CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Notes | £ | £ | |
| Income from: | |||
| Investments | 2 | 131,343 | 130,360 |
| Expenditure on: | |||
| Raisingfunds | 3 | 16,682 | 18,335 |
| Charitable activities | 4 | 143,006 | 188,680 |
| Total resources expended | 159,688 | 207,015 | |
| Netgains/(losses) on investments | 10 | 156,553 | 215,744 |
| Net movement in funds | 128,208 | 139,089 | |
| Fund balances at 1 January2024 | 4,172,981 | 4,033,892 | |
| Fundbalancesat31December2024 | 4,301,189 | 4,172,981 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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BRIAN WILSON CHARITABLE TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Fixed assets | |||||
| Investment property | 11 | 240,000 | 165,000 | ||
| Investments | 12 | 4,004,975 | 3,938,954 | ||
| 4,244,975 | 4,103,954 | ||||
| Current assets | |||||
| Cash at bank and in hand | 58,329 | 71,233 | |||
| Creditors:amounts fallingdue within | |||||
| oneyear | 13 | (2,115) | (2,206) | ||
| Net current assets | 56,214 | 69,027 | |||
| Total assets less current liabilities | 4,301,189 | 4,172,981 | |||
| Income funds | |||||
| Unrestricted funds | 4,301,189 | 4,172,981 | |||
| 4,301,189 | 4,172,981 |
The financial statements were approved by the Trustees on 4 June 2025
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rJ ic ~ FE ek
Trustee
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BRIAN WILSON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 Accounting policies
Charity information
Brian Wilson Charitable Trust is an unincorporated charity governed by a deed of trust.
- 1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, 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) (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.
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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the 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.
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BRIAN WILSON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 Accounting policies
(Continued)
- 1.5 Resources expended
Expenditure is recognised once there is a 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 activity. The costs of each activity are made up of the total of direct costs and 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:
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Costs of raising funds comprise investment management charges.
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Expenditure on charitable activities includes the costs of grants paid to local charities.
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.
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, 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.
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BRIAN WILSON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors 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.
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 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.
Derecognition offinancial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.
2 investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Rental income | 8,100 | 7,567 |
| Income from listed investments | 103,674 | 114,212 |
| Interest receivable | 19,569 | 8,581 |
| 131,343 | 130,360 |
26’
BRIAN WILSON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
3 _ Raising funds
| Unrestricted | Total | |
|---|---|---|
| funds | ||
| 2024 | 2023 | |
| £ | £ | |
| Investment management | 16,682 | 18,335 |
| 16,682 | 18,335 | |
| Charitable activities | ||
| 2024 | 2023 | |
| £ | £ | |
| Property costs | - | 135 |
| Insurance | 467 | 406 |
| 467 | 541 | |
| Grant fundingof activities (see note 6) | 140,000 | 185,750 |
| Share ofsupport costs (see note 5) | 409 | 128 |
| Share ofgovernance costs (see note 5) | 2,130 | 2,261 |
| 143,006 | 188,680 |
4 Charitable activities
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BRIAN WILSON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
5 Support costs
| Support costs | ||||||
|---|---|---|---|---|---|---|
| Support | Governance | 2024 | SupportGovernance | Governance | 2023 | |
| costs | costs | costs | costs | |||
| £ | £ | £ | £ | £ | £ | |
| Bank charges | 119 | - | 119 | 128 | - | 128 |
| Postage | 290 | - | 290 | - | - | - |
| Independent | ||||||
| examination fee | - | 2,130 | 2,130 | - | 2,261 | 2,261 |
| 409 | 2,130 | 2,539 | 128 | 2,261 | 2,389 | |
| Analysed between | ||||||
| Charitableactivities | 409 | 2,130 | 2,539 | 128 | 2,261 | 2,389 |
Governance costs represent payments to the Independent examiner of £2,261, (2023- £2,048) for the independent examination of the financial statements.
6 Grants payable
During the year the charity paid 39 grants totalling £145,000 to local charities (2023: 46 grants totalling £185,750).
One grant of £5,000 awarded in the previous year was returned as the project did not proceed.
es Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
8 Employees
The average monthly number of employees during the year was:
| 2024 | 2023 | |
|---|---|---|
| Number | Number | |
| Total | ‘= | : |
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BRIAN WILSON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
8 Employees
(Continued)
There were no employees whose annual remuneration was more than £60,000.
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 | |
| 2024 | 2023 | |
| £ | £ | |
| Revaluation of investments | 63,752 | 216,920 |
| Loss on sale of investments | 17,801 | (1,176) |
| Revaluation ofinvestment properties | 75,000 | - |
| 156,553 | 215,744 |
11. Investment property
| 2024 | |
|---|---|
| £ | |
| Fairvalue | |
| At 1 January2024 | 165,000 |
| Netgains or lossesthrough fairvalueadjustments | 75,000 |
| At31December2024 | 240,000 |
Investment property comprises freehold residential property. The fair value of the investment property has been revalued by an external chartered surveyor on the basis of a walk pass viewing and consideration of property values in the area.
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BRIAN WILSON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
11. ‘Investment property
(Continued)
If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Cost | 105,000 | 105,000 |
| Accumulated depreciation | - | - |
| Carryingamount | 105,000 | 105,000 |
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BRIAN WILSON CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
12 Fixed asset investments
| Managed Fund | |
|---|---|
| £ | |
| Cost orvaluation | |
| At 1 January 2024 | 3,938,954 |
| Additions | 2,269 |
| Valuation changes | 63,799 |
| At 31 December 2024 | 4,005,022 |
| Carryingamount | |
| At 31 December 2024 | 4,005,022 |
| At31December2023 | 3,938,954 |
Fixed asset investments revalued
The investments comprise a managed fund which is valued at open market value. The historic cost of the investments is £2,874,096.
13 Creditors: amounts falling due within one year
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Accruals | and | deferred | income | 2,115 | 2,206 |
14 Related party transactions
There were no disclosable related party transactions during the year (2023 - none).
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