CHARTfY NUMBER 1068492 DANIEL PARSOIYS EDUCATIONAL CHAIUTY TRUSTEES REPORT AIYD FINANCIAL STATEMENTS 12 MONTHS TO 31 DECEMBER 2023 DANtEL PARSONS EDUCATIONAL CHARITY Contents Page Trustee8 Annual Report Financial Statements Independent Examiner's Report DANIEL PARSONS EDUCATIONAL CHARITY TRUSTEES ANI¥UAL REPORT 12 month5 to 31 December 2023 Reglstered charlty number 1068492 Charlty's principal addres$ 53 Thc Broadway Dudley West Midlands DYI 4AP Charlty trustees who have Jerved from l January 2023 to the date of approval of these accounts R. T. V. Evans D. F. Hughes Chairnian P Marsh J. K. West T P Westley Independenl examfiner J H Wilkes FCA 14 Richmond Gardens Wombourn¢ West Midlands WV5 OLQ Bankeri Lloyds Bank 63 High Street Dudley DYI IPY Investment Advisers EFG Harris Allday 33 Great Charles Sireet Bimiingham B3 3JN Page I DANIEL PARSONS EDUCATIOIYAL CHARITY TRUSTEES ANNUAL REPORT- eontlnued 12 months to 31 December 2023 Structurey governance and management Tn4s¢ Scheme The Charity is regulat￿ by a scheme that was sealed on 6 April 1996 replacing a scb¢me sealed in 1863. Policies and PrOcedUr￿fOr the Induclion and Training of Trnstees Trustees ar¢ w-opted by the existing trustees. Once appointed. new trustees are briefed on the bistory, organisation and future objectives of the Charity. Organisalion The Trustces meet regularly throughout the yw to review and to decide on any grants to be made within the objectives of the Charity. Riskmanagement Th¢ Tn￿te¢S have ass¢ss¢d the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to any major risks. ObJe¢ttves and a¢tlvltle8 The object of the charity is the promotion of education of persons under the age of 25 years who, or whose parents are resident in Dudlcy and lh¢ surrounding n¢ighbourhood, have at any time attended at a school in the area. Public beneflt The Trustees have referred to the guidance contained in the Charity Commission'8 general guidance on public benefit when reviewing their aims and objectives. The focus of their activity remains in providing financial support for the promotion of edu¢ation for individuals from th¢ Dudley area. Acblevement5 and perforniance The Charity has made grants of £5,400 during the year; totsl fwid5 of £200,190 are available for distribukion if only sultable applicants can be found. At 31 December 2023, the Endowment Fund of the Charity was valued at £232,30/ Investments (including cash retained for investment) held by the Charity f¢ll in value during the year by £34,313, (a fall of £23,322 of the pernian¢nt endowment and £1 0,991 in unrestrict¢d funds). Charlty's policy on reserves Th¢ Trustees cnd¢avour to r¢tain a minimum of an averag¢ year's income {£15,(K)O) to meet any unexpected necd or expense. Plan8 for future perlods The Charity has no outside source of income and is dcpendent upon thc income from its Anvestmcnts. The trust¢¢s will continue to use thc Income, as it arAS¢S, to meet thc prcscribed objectives of the Charity. There are no anticipated plans to change tkn's policy in the foreseeable future. Declaratlon Th¢ Trnstees declare that they have approved the trust¢es' report abov¢. Signed on behalf of th¢ charity's trust¢¢s D F Hughes - Chainnan Page 2 DANIEL PARSONS EDUCATIONAL CHARITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted Endowment Total Fund Fund Funds Last Year RECEIPTS AND PAYMENTS ACCOUNT Receipts Investment income 16,319/ 39 6564 120 1021 159 758J 265 031 16,319/ 15,972 Asset and iDvestment sales. etc. Total receipts Payments Grants Postages etc. Investment advisers, fees Examiner's f¢¢ 5,400 / 62/ 5,4001 62 3,1571 200T 8,819 15,538 69 1,814 200 3.157/ 200/ 5,662 3,157. 17.621 Assel and investment purchases, etc. Total payments 40895/ 115 58 / 156479 272 826 Excess of ayment ver eceipts 9,418 1,361 10,779 (9,444) Cash funds last year end 102 678 544 102 134 111578 Cash funds this year end STATEMENT OF ASSETS AND LIABILITIES CAsh Funds Cambridge & Counties Bank Lloyds Bank EFG Harris Allday 70,098 / 38,560 / 70,098 38,5601 68,706 29,633 8171 Investment Assets Shares and securities at market value Accrued expenses - examiner's fee Signed on behalf of the charity's trustees D F Hughes- Chainnan Page 3 INDEPENDE￿ ELIMINER'S REPORT TO THE TRUSTEES OF THE DAIYIEL PARSONS EDUCATIONAL CHARTrY I report to the charity trustees on my examinatlon of the accounts of th8 charty for the yèar ended 31 December 2023, whlch are sat out on page 3. Respon$lbllltle$ and ba$ls of report A5 the charity's Iruslees you ar8 responsible for the preparakn'on of the accounts in accordance with the requirements of the Charitles Act 2011 {'the Act.). I report In r8spe¢t of my examination of the charity's accounts carried oul under section 145 of the Act and in carrying out rny exarnlnatlon I have followed all the applicable Dlrectlons glven by the Charlty Commission under section 145(51(b) of the Act. Indepondent examlneffg Statom•nt I have completed my examlnation. I conflmi that no material matt8rs have come to my attention in connectlon wlth the examlnation giving rne cause to bell8V6 that In any matprial respect: accounting records were not kept In respect of the charfty as required by sectlon 130 of Ihe Act; or the accounts do not accord with those records; or the accounts do not comply with the applicable requirements concernlng the form and content of accounts set out In the Charities (Accounts and Reports) Regulations 2008 other than any requlrement that th8 accounts give a 'true and f8ir view, which Is not a matter considered as part of an Independent examlnation. I hav8 no concems and have come across no other matters in connectlon w￿h the examlnatlon to whlch attentlon should be drawn In this report In order to enable a proper understanding of the accounts to be reached. J H Wilkes FCA Page 4