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The Oliver Morland Charitable Trust Charity Number 1076213
Unudited Financial Statements For The Year Ended 5 April 2025
The Oliver Morland Charitable Trust
‘ Year ended 5 April 2025
Reference and Administrative Information
Board of Trustees
The trustees at the date of this report and holding office during the year were:
Kate Lovell (Chairman) Simon Rutter Jennifer Pittard David Pittard Simon Pittard Charlotte Jones Eleanor Jaques
Registered Charity Number
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1076213
Registered Address
Thomas's House Stour Row Shaftesbury Dorset SP7 OQW
Bankers
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CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
Investment Advisers
Evelyn Partners Group Limited 45 Gresham Street London EC2V 7BG
Independent Examiners
Hub Accountants Ltd Innovation House Wincombe Lane Shaftesbury Dorset SP7 8FG
The Oliver Morland Charitable Trust
‘ Year ended 5 April 2025 Reference and Administrative Information
Index
| Page | |
|---|---|
| Annual report of the Trustees | |
| Independent Examiners report | 2 |
| Statement of financial activities | 3 |
| Balance sheet | 4 |
| Notestotheaccounts | 5-6 |
The Oliver Morland Charitable Trust ‘ Year ended 5 April 2025 Trustees Report
The Trustees present their report and the unaudited financial statements of the Charity for the year ended 5 April 2025. The financial statements have been prepared in accordance with the accounting policies set out in note | to the accounts and comply with the Charities Act 2011 and the Statement of Recommended Practice Accounting and Reporting for Charities (FRS102).
The Charity is constituted and governed by a Declaration of Trust dated 11 July 1951 as amended by Deed and Declaration of Trust dated 31 March 1999.
Principal Objects for public benefit
The principal objects of the Charity are to pay or apply the income of the trust fund and such parts of the capital thereof (which the Trustees shall raise as required by sale of the requisite part of the Trust Fund), to or for such charitable institutions or charitable purposes and in such shares and proportions as the settlor shall at any time or times and from time to time appoint and after the death of the settlor as the Trustees shall from time to time in their absolute discretion determine.
- ) Financial report
The investment portfolio, now managed by Evelyn Partners Group Limited, has seen a reduction in its value due to continued volatility in the world markets. The Trustees have remained cautious in their grants programme and looked to sustain their current level of awards.
Report on Activities during the year
The trustees were able to maintain the level of grants in 2024/25 and it is hoped that the performance of our portfolio will again enable us to continue the present level of grants. It is hoped that our portfolio's performance will continue to enable us to reach our target of grants payable of £100,000. We continue to receive a significant number of new appeals but the trustees find it difficult to resoond to new requests. Our current commitments take priority.
Trustees' responsibilities in respect of the preparation of the Accounts
The Trustees are required by Law to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity for that period. In preparing those financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently:
~make judgements and estimates that are reasonable and prudent
- prepare the financial statements on a going concern basis unless it is appropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approval n This report was approved by the Board of Trustees on 6' Nose be, 2025 signed on its behalf by:
Kate Lovell Chairman
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Independent Examiner's Report to the Trustees of The Oliver Morland Charitable Trust * Charity Number 1076213
| report to the charity trustees on my examination of the accounts of the trust for the year ended 5 April 2025 which are set out on pages 3 to 6.
Respective responsibilities of trustees and examiner
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act"). | 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, | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
| have completed my examination. | confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any ) material respect: e the accounting records were not kept in accordance with section 130 of the Charities Act; or
- e the accounts did not accord with the accounting records; or e the accounts did 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 accounts to be reached.
Paul Stacey FCA
, For and on behalf of ’ Hub Accountants Ltd Chartered Accountants Innovation House Wincombe Lane
Shaftesbury Dorset SP7 8FG
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Page 2
The Oliver Morland Charitable Trust * Statement of Financial Activities
Year ended 5 April 2025
| Unrestricted Funds | ||||
|---|---|---|---|---|
| Notes | 2025 | 2024 | ||
| Income | £ | £ | ||
| Investment income | 2 | 51,475 | 43,475 | |
| 51,475 | 43,475 | |||
| Expenditure | ||||
| Charitable activities | 3 | 101,200 | 102,400 | |
| Support costs | 4 | 17,750 | 20,322 | |
| 118,950 | 122,722 | |||
| ) | Net outgoing resources | (67,475) | (79,247) | |
| Other gains and losses | ||||
| (Losses) \gains on investments | 5) | (121,632) | 229 284 | |
| Netmovement in funds | (189,107) | 150,037 | ||
| Funds broughtforward | 2,697,604 | 2,547,567 | ||
| Fundscarriedforward | 6 | 2,508,497 | 2,697,604 |
Page 3
The Oliver Morland Charitable Trust
- Balance sheet as at 5 April 2025
| Unrestricted | Funds | |||
|---|---|---|---|---|
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed Assets | ||||
| Investments | 5 | 2,902,152 | 2,693,388 | |
| Current Assets | ||||
| Cash at bank | 5,082 | 4,032 | ||
| Accrued income | 2,259 | 1,132 | ||
| 7 34] | 5,164 | |||
| Current Liabilities | ||||
| Accruals | (996) | (948) | ||
| ) | Net current assets | 6,345 | 4,216 | |
| Net Assets | 2,508,497 | 2,697,604 | ||
| Net Assets | ||||
| Fund balances | ||||
| Unrestrictedfunds | $ | 2,508,497 | 2,697,604 |
On behalf of the Trustees of The Oliver Morland Charitable Trust we approve the financial statements set out on pages 3 to 6.
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RTA ELAS AORTA Simon Rutter
Trustee
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Page 4
The Oliver Morland Charitable Trust * Notes to the financial statements Year ended 5 April 2025
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1.4
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1 Principal Accounting Policies
1.1 Basis of preparation of accounts
These accounts have been prepared under the historical cost convention(except that investments are shown at market value) in accordance with the Statement of Recommended Practice, "Accounting and Reporting by Charities" preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective January 2019) and the Charities Act 2011. The Charity has taken advantage of the exemption in Financial Reporting Standard 1 from the requirement to produce a cash flow statement on the grounds that it qualifies as a small charity.
The presentation currency of the financial statements is Pound Sterling.
The charity meets the definition of a public benefit entity under FRS102.
Fund Accounting
Unrestricted funds comprise those funds which the Trustees are free to use for any purpose in furtherance of the charitable objectives. There are no designated or restricted funds.
Incoming Resources
All incoming resources are recognised once the funds have been received in the Charity's bank account.
Expenditure
Liabilities are recognised and expended as soon as there is a legal and constructive obligation committing the Charity to the expenditure. All expenditure is included on an accruals basis and has been classified under headings that aggregate all costs related to that category.
Governance cost comprise all costs involving the public accountability of the Charity and its compliance with regulation and good practice. These costs include costs relating to accountancy services.
Costs of charitable activities include costs directly associated with the charitable activities of the Charity.
1.5
Investments
Investments are shown at market value at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. The investments are held on the Charities behalf by Evelyn Partners Group Limited are to provide an investment return for the Charity.
| Investment income | 2025 | 2024 |
|---|---|---|
| £ | £ | |
| Evelyn Partners investment income | 51,454 | 43,452 |
| Bank interest received | 2) | 23 |
| 51,475 | 43,475 |
Page 5
The Oliver Morland Charitable Trust
- Notes to the financial statements (continued) Year Ended 5 April 2025
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| Charitable activities | 2025 | 2024 |
|---|---|---|
| £ | £ | |
| Grants | 101,200 | 102,400 |
| Support costs | 2025 | 2024 |
| £ | £ | |
| Investment charges | 16,135 | 18,637 |
| Bank charges | 82 | 89 |
| Trustees expenses | 146 | 288 |
| Meeting expenses | 293 | 262 |
| Subscriptions | 98 | 98 |
| Independent examination fees | 996 | 948 |
| 17,750 | 20,322 | |
| Investments | 2025 | 2024 |
| £ | £ | |
| Market value brought forward | 2,679,270 | 2,485,859 |
| Additions | 389,043 | 521,738 |
| Disposals | (466,406) | (557,611) |
| Unrealised (losses)\gains on investments | (178,749) | 159,015 |
| Realised gains on investments | 57,117 | 70,269 |
| 2,480,275 | 2,679,270 | |
| Cash held | 21,877 | 14,118 |
| Market value carried forward | 2,902,152 | 2,693,388 |
| Movement in funds | 2025 | 2024 |
| £ | £ | |
| At 6 April 2024 | 2,697 604 | 2,547,567 |
| Net movement in funds | (189,107) | 150,037 |
| At5April2025 | 2,508,497 | 2,697,604 |
Trustees remuneration and expenses
During the current and previous year, no remuneration was payable to the Trustees by the charity. Trustees claimed back mileage costs to attend meetings totalling £502 (2024: £288).
Related party transactions
There were no related party transactions during the current or previous year.
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