**REGISTERED CHARITY NUMBER: 1068929**
## Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 August 2024
for
## Fraser Peckham Trust
Altus Business Consulting Ltd 88-89 High Street Wordsley Stourbridge West Midlands DY8 5SB
Fraser Peckham Trust
Contents of the Financial Statements for the Year Ended 31 August 2024
|||Page||
|---|---|---|---|
|Report of the Trustees|1|to|2|
|Independent Examiner's Report||3||
|Statement of Financial Activities||4||
|Balance Sheet||5||
|Notes to the Financial Statements|6|to|10|
|Detailed Statement of Financial Activities||11||
Fraser Peckham Trust
Report of the Trustees for the Year Ended 31 August 2024
The trustees present their report with the financial statements of the charity for the year ended 31 August 2024. The trustees have adopted the provisions of 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).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The objectives of the charity are the advancement of the Christian faith and the relief of poverty mainly but not exclusively by training Christian workers abroad or in the UK.
## **Significant activities**
Ongoing grants were made to Africa Rural Trainers (ART) Trust in Kenya that included a number of donations made to the Trust that were designated either for general support for ART or for a specific translation project being conducted for ART.
## **Grantmaking**
The trustees normally meet once or twice yearly to set the budget and consider what grants will be made and to review progress and effectiveness of the activities of organisations that have previously been provided grants. Occasional unsolicited requests are received for grants and these are evaluated in the light of available funds and whether they meet the objectives of the FPT. The trustees travel in the UK and abroad where necessary support of the Trusts objectives.
## **Volunteers**
The trustees are all voluntary and take no income from the trust
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
Africa Rural Trainers (ART) Trust continues to be a major beneficiary of grants from the Fraser Peckham Trust and the impact continues to be significant. Regular meetings are held with the General Manager of ART to review progress and to monitor how the grants are spent. Over 400 students were continuing training during the year with around half expected to graduate in the Autumn of 2024.
## **Fundraising activities**
Several donations were made to the FPT during the year to support the work of ART in Kenya.
## **Investment performance**
Investment income increased slightly during the year but there was a significant increase in the underlying value of the investments from the previous year resulting in an uplift in the total funds carried forward.
## **FUTURE PLANS**
The Trust expects to continue funding the work of ART continues to encourage ART to find other partners to provide grants alongside the FPT given the increasing amounts of funding that ART requests each year.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
## **Recruitment and appointment of new trustees**
The chair of trustees is responsible for the induction of any new trustee. This involves awareness of a trustee's responsibilities, the governing document, administrative procedures, the history and philosophical approach of the charity.
## **Safeguarding**
Although not actively working directly with children either in the UK or overseas, the Trustees decided to introduce a Safeguarding policy and this was implemented during the year. The new Trustee was required to sign up to the policy.
Page 1
Fraser Peckham Trust
## Report of the Trustees
## for the Year Ended 31 August 2024
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1068929
## **Principal address**
Wassell Wood House Habberley Road Bewdley Worcestershire DY12 1LD
## **Trustees**
J Peckham J Peckham J Pullen (appointed 16.6.24)
## **Independent Examiner**
Altus Business Consulting Ltd 88-89 High Street Wordsley Stourbridge West Midlands DY8 5SB
## **COMMENCEMENT OF ACTIVITIES**
The trust was established on 5th March 1998
Approved by order of the board of trustees on 9 June 2025 and signed on its behalf by:
J Peckham - Trustee
Page 2
Independent Examiner's Report to the Trustees of Fraser Peckham Trust
## **Independent examiner's report to the trustees of Fraser Peckham Trust**
I report to the charity trustees on my examination of the accounts of Fraser Peckham Trust (the Trust) for the year ended 31 August 2024.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts 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.
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 accounts to be reached.
Richard Ashmore BA, FCA
Altus Business Consulting Ltd 88-89 High Street Wordsley Stourbridge West Midlands DY8 5SB
9 June 2025
Page 3
Fraser Peckham Trust
## Statement of Financial Activities for the Year Ended 31 August 2024
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
291
Investment income
2
17,655
**Total**
17,946
**EXPENDITURE ON**
**Charitable activities**
Africa Rural Trainers
-
Administration
2,988
**Total**
2,988
Net gains on investments
66,769
**NET INCOME**
81,727
**RECONCILIATION OF FUNDS**
Total funds brought forward
593,431
**TOTAL FUNDS CARRIED FORWARD**
675,158|Restricted
fund
£
81,880
-
81,880
80,000
-
80,000
-
1,880
-
1,880|31.8.24
Total
funds
£
82,171
17,655
99,826
80,000
2,988
82,988
66,769
83,607
593,431
677,038|31.8.23
Total
funds
£
57,464
16,765|
|---|---|---|---|
||||74,229|
||||90,350
4,209|
||||94,559|
||||24,585|
||||4,255
589,176|
||||593,431|
The notes form part of these financial statements
Page 4
Fraser Peckham Trust
## Balance Sheet
## 31 August 2024
|Notes
**FIXED ASSETS**
Investments
5
**CURRENT ASSETS**
Cash in hand
**CREDITORS**
Amounts falling due within one year
6
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
7
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
fund
£
565,231
110,287
(360)
109,927
675,158
675,158|Restricted
fund
£
-
1,880
-
1,880
1,880
1,880|31.8.24
Total
funds
£
565,231
112,167
(360)
111,807
677,038
677,038
675,158
1,880
677,038|31.8.23
Total
funds
£
493,495
100,296
(360)
99,936
593,431
593,431
593,431
-
593,431|
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 6 June 2025 and were signed on its behalf by:
J Peckham - Trustee
The notes form part of these financial statements
Page 5
Fraser Peckham Trust
Notes to the Financial Statements for the Year Ended 31 August 2024
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **2. INVESTMENT INCOME**
||31.8.24|31.8.23|
|---|---|---|
||£|£|
|Other fixed asset invest - FII|16,011|16,678|
|Deposit account interest|1,644|87|
||17,655|16,765|
continued...
Page 6
Fraser Peckham Trust
Notes to the Financial Statements - continued for the Year Ended 31 August 2024
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 August 2024 nor for the year ended 31 August 2023.
## **4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
16,459
Investment income
16,765
**Total**
33,224
**EXPENDITURE ON**
**Charitable activities**
Africa Rural Trainers
49,345
Administration
4,209
**Total**
53,554
Net gains on investments
24,585
**NET INCOME**
4,255
**RECONCILIATION OF FUNDS**
Total funds brought forward
589,176
**TOTAL FUNDS CARRIED FORWARD**
593,431|Restricted
fund
£
41,005
-
41,005
41,005
-
41,005
-
-
-
-|Total
funds
£
57,464
16,765|
|---|---|---|
|||74,229|
|||90,350
4,209|
|||94,559|
|||24,585|
|||4,255
589,176|
|||593,431|
## **5. FIXED ASSET INVESTMENTS**
The investment portfolio is revalued at each year end. At the 31st August 2024 the value of the investment was £565,230 (2023 £493,495)
The investment portfolio is managed by a UK based investment management company. the portfolio is a mixture of UK and US investments.
continued...
Page 7
Fraser Peckham Trust
Notes to the Financial Statements - continued for the Year Ended 31 August 2024
## **6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Other creditors
**7.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**Restricted funds**
Africa Rural Trainers
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
17,946
**Restricted funds**
Africa Rural Trainers
81,880
**TOTAL FUNDS**
99,826
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.9.23
£
593,431
-
593,431
Resources
expended
£
(2,988)
(80,000)
(82,988)
At 1.9.22
£
589,176
589,176|31.8.24
31.8.23
£
£
360
360
Net
movement
At
in funds
31.8.24
£
£
81,727
675,158
1,880
1,880
83,607
677,038
Gains and
Movement
losses
in funds
£
£
66,769
81,727
-
1,880
66,769
83,607
Net
movement
At
in funds
31.8.23
£
£
4,255
593,431
4,255
593,431|
|---|---|---|
continued...
Page 8
Fraser Peckham Trust
Notes to the Financial Statements - continued for the Year Ended 31 August 2024
## **7. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|
||resources|expended|losses|in funds|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|33,224|(53,554)|24,585|4,255|
|**Restricted funds**|||||
|Africa Rural Trainers|41,005|(41,005)|-|-|
|**TOTAL FUNDS**|74,229|(94,559)|24,585|4,255|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Africa Rural Trainers
**TOTAL FUNDS**|At 1.9.22
£
589,176
-
589,176|Net
movement
in funds
£
85,982
1,880
87,862|At
31.8.24
£
675,158
1,880|
|---|---|---|---|
||||677,038|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|
||resources|expended|losses|in funds|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|51,170|(56,542)|91,354|85,982|
|**Restricted funds**|||||
|Africa Rural Trainers|122,885|(121,005)|-|1,880|
|**TOTAL FUNDS**|174,055|(177,547)|91,354|87,862|
continued...
Page 9
Fraser Peckham Trust
Notes to the Financial Statements - continued for the Year Ended 31 August 2024
## **8. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 August 2024.
Page 10
Fraser Peckham Trust
Detailed Statement of Financial Activities for the Year Ended 31 August 2024
|Detailed Statement of Financial Activities
for the Year Ended 31 August 2024|||
|---|---|---|
||31.8.24|31.8.23|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Gifts|(1)|-|
|Donations|82,172|41,005|
|Gift aid|-|16,459|
||82,171|57,464|
|**Investment income**|||
|Other fixed asset invest - FII|16,011|16,678|
|Deposit account interest|1,644|87|
||17,655|16,765|
|**Total incoming resources**|99,826|74,229|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Grants to institutions|80,000|90,350|
|**Support costs**|||
|**Management**|||
|No description|2,988|3,739|
|No description|-|360|
||2,988|4,099|
|**Finance**|||
|Bank charges|-|110|
|Total resources expended|82,988|94,559|
|**Net income/(expenditure) before gains and**|||
|**losses**|16,838|(20,330)|
|**Realised recognised gains and losses**|||
|Realised gains/(losses) on fixed asset investments|66,769|24,585|
|**Net income**|83,607|4,255|
This page does not form part of the statutory financial statements
Page 11