Charlty Regl•tratlon No. 1078555 THE SANTS CHARITABLE TRUST REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
THE SANTS CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trusteos HWHSants C J S8nts J H Ovens A Sants EKRSants AFJ Sanls Charlty numbèr 1078555 Prlnclpal addro8• Cobstones Turvi118 Henley on Thames Oxfordshire RG9 6QL Ind•p•ndont •xamln•r Kerry Gallagher FCA DChA RSM UK Tax and Accounllng Limited Davidson House Forbury Square Rèading Berkshire RG13EU Banker• Coutts & Co 440 Strand London WC2R OQS Inve8trn•nt advlsor• C8zenove C8Pltal Management Limil¢d 1 London W811 Plac8 London EC2Y SAU
THE SANTS CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2024 The Truslees present théir report and financial staternents for the year ended 5 April 2024. The finanaal slalemenls have been prepaTrd in accordance with the Accounting arKI Repx)rting by Charllies.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard apiCable in Ihe UK and Republic ol Ireland {FRS 1021 (eff8Gtive 1 January 20191, th8 Ch8rilies Ad 2011 and in accordance with the trust deed. Obj•ctivfrs and actlvitlos The objects, purpose and activities of the charlty, as set out in the trust deed. arn foT such excluslve charitable purposes, in any parl of Ilie world, a¥ th¥ Trustees may detefrnine. This includes the adivtty of supportin9 Smiill charities helping children and young people In and around Oxfordshire and Buckinghamshire, especially those with a Christian lovndatlon. Publ1¢ benefit The Trustees have complied wilh their duty to hav8 due regard lo the guidance on public beneflt published by the Charity Commission. Grant making pollcy The Tiuslees decide on the gr8nls to bo mad8 withln the scope of th8 Trust's objectives and lo furth•r the charity's purpose for the public beneflt. Achlevom•nts and porformanc8 16 grants lotalling £26,250 wer8 paid to instllullon3 during tho year12023: 13 grants tolalling £41.7501. In all cases fulfilling the main objective of the charity. Flnanclal r•vl•w Tlie results are sel out in Ihe Stalement ol Financial Activities on page 5. The Tru51 made grants of £28,250 12023.. £41.7501 and receiv8d income of £55,245 (2023.. £47,271 }. The res6Thes Caled fomard are £1.098,645 12023.. £1,037,830), which are considered to bo satisfactory for futura na8ds. Re8or¥o$ poII¢y The Trustees. policy is to maintain the Endowment Fund so as to maximi8e in¢ome lo pay donations and grants for charllable purposes. The Endowmeni Fund is to be maintainod at £l,000.000, The Endowment Fund at the year end is £1,098,64512023.. £1,037,830) which is an Increa$e12023' decrease) compared to last year, largely due to 8 n81 gain 12023.. net lossl on investments In the year. The Trusteos continu8 to monitor th8 level of ieserv8s. Rl8k manag¢m•nt The affairs of the Trust are on 8 sm811 scale and are handled directly by the Trusleèg. The Tru91'$ quoted $8curities are manag8d by Cazenove Capital Management Limited which has b8en instru¢tod to structure these for low risk. The Trustees monitor the p8rfomiance of the investment managers bul they do rv)t consider that addibonal rfsk management procedures are necessary for a Trust ol this size. Plans for ftrtur• p•rlod• The aim of the Trustees for the next year is to contsnue making donatiorbs to various ¢harilles. Structure, govomanco and manag•ment The Sanls Charitable Trust is constituted under a trust deed dated 21 July 1999, as arnended by a deèd of appointment and variation dalgd 11 November 1999. under which the founders of The Sants Charitable Trust appointed themselves as the original Trustees of the charity wth the power to appoint new or additional Trustees to the charity as and when necessary.
THE SANTS CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Structure. gov•manco and managomont IcontSnuod) The Tru3188s who saNed during the year and to the datg of this report were: HWHSanls C J Sanls J H Oven6 A Sants EKRSanls AFJSanls The Trustees. Report was approved by the B08rd of Trustees. S•nts Trustee 08ted'.
THE SANTS CHARITABLE TRUST STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 5 APRIL 2024 The Trustees are responsible for preparing the Trustees, Report and the financial statements in accKfyrdancg with applicable law and United Kingdom Accounting Standards induding Financial Reporting Stsndard 102.. The Finan¢ial Reporring Swidard applicable in the UK and Republic of Ireland (United Kingdom Generally A¢¢epted Accounting Practice). The law applicable lo charities in England and Wales requires lh8 Trustees lo prepare finandal statements for ea financial year which give a true and fair view of the stale of affairs of the charity and of the incA)m8 and expenditure of the charity for that year. In preparlng th8s& financial statemènts, tha TTUStaes ara requir8d to.. - selèct sullable accountlng pollcies and then pY them consistenlly., - observe the methods and princlpl8s In the Charities SORP., make ludgem&nts and acUntIng esllmales that are reasonable and prudent; stale whether applicable accounting 8tsndards have been followed, subject to any materlal departures disclosed and explained in thg financial statements,. and prepare the flnanclal statemen18 on the going concem ba$18 unless it Is inappropri8te lo presum8 that th8 ch8rlly wlll conllnue In operation. The Trustees are responsible lor keeplng sufficient accounting records Ih8t disclose with reasonable accufacy al any time the financial position of the charity and enable them lo ensure that the flnanoal stslemenls comply with the Charities Act 2011, th8 Charity (Accovnls and Reports) Regulatlons 2008 and the provisions of tho Ifust deed. They are also Tesponsible for saleguarding the assets of the charity and hance for taking reasonable sleps for the prevention and deleth'on of fraud and other irregularities.
THE SANTS CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SANTS CHARITABLE TRUST I report lo the Trustees on my examinafjon of the financial statements of The San1$ Charilable Trust I'lhe charity'} for the year ended 5 April 2024, which are set out on pages 5 10 12. Responslbllltlfjs 8nd ba¥ls of r•port As the Trustees of the charity you are responsible for the preparation of the finanG1815tatements in accordance with th6 requirements of th• Charities Act 2011 {'Ihe 2011 Act'l. I report in respecl of my examination of the charity'8 financial statements carried out under secilon 145 of the 2011 Act and in carying out my examination I have followed all the applicable Dire¢tlon$ glven by the Charity Commission under section 14515)Ib) ol the 2011 Act. An independent examination does not involve gathering all the evidence that would be roquired in an audit and consequently does not cover all th8 matt8rs that an audilor considers in givlng thèir opinion on the financial stslemenls. The planning and conduct of an audit goes beyond the limited assurance Ihal an Independent oxaminalion can provide. Consequently, l express no opini¢)n as to whether the finan¢ial statements present 'true and fair view, and my report is limlted lo thosè specific matters set out in the indepondent examiner's statement. Ind•p•nd•nt •x•rnln•V8 8tat•m•nl I have compleled my examinallon. l ¢onfimi that no material m8tt8r8 have come to my attention in connecllon with the examination givlng me reasonable cause to believo that in any malerl81 respect.. accounting rocords wpre not kept in respect of tho ¢harity as requirod by section 130 of the 2011 AGI,. ar the financial stst8m8nts do not accord with thos8 records., or 3. the financial slalemenls do not comply with the applicable requirements con¢eming the fom and content of financial statements 981 out In tho Charities (Accounts and Reports) Rogulalions 2008 olher than any requirement that the financial statements give a 'tru8 and fair view, which is not a matter considered as part of an independent examir$81ion. I have no concarns and have come across no other matt8rs in connection with thè 8xamination lo which attention should be drawn In this report in ord8r lo enabl8 a proper understanding of the flnancial slalemenls lo b8 re8chod. Kery Gallagher FCA DChA Inslllute of Chartered Accountsnts In England and Wales On behalf of.. RSM UK Tax and Accounting Limited Chartered Accounlanls Dawdson House Forbury Squar8 Reading Berkshire RG13EU Dated.. 15 January 2025
THE SANTS CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024 UnrnstrlGted Endowment funds fund Total 2024 Total 2023 Not Donations Investments 10.C4JO 45,245 10,000 45,245 4,400 42,871 Total Incom• 55.245 55.245 47.271 endlture Raising funds Charltsble activities 3.120 3.120 35.264 3.166 50.330 35.264 Total •xp•ndltur• 35.264 3.120 38,384 53,496 N&t Incomel{exp•ndlturn) b•foro galn•lllo8•0•) on Investmènts 19,981 19,981 {3,0591 Nel g8ins/llossesl on investments 43,954 43.954 160,5051 N•t Ineorn•llexp•ndlturn) beforn tr•n8f•rn 19,981 40,834 80,815 166,7301 Gross transfers baeen funds 12 119.981) 19,981 Net rnovernant In fund• 60.815 60,815 166,7301 Total funds brought forward 1,037.830 1.037.830 1,104,560 Total funds carrled fonvard 12 1,098.645 1.098.645 1,037,830
THE SANTS CHARITABLE TRUST Charlty Roglstratlon No. 1078555 BALANCE SHEET AS AT SAPRIL2024 2024 2023 Not•s Flx•d a•sot• Inveslmanls 1,080.943 1,030.070 Curr•nt assots Cash al bank and in hand 27,506 17.1H Crndltors: amounts falllng du• wlthln one year 10 19.804) 19,384) Net curr•nt asuts 17.702 7,760 Total a880ts l•B• curr•nt Ilabllltlo• 1,098,645 1,037.830 Fund• Endowment fund 12 1.098,645 1,037.830 1.098,645 1.037,830 Tho financial slalemen18 from pages 5 10 12 were approved by the Trustees on thélr behalf b 15101125 and slgned on H Sanl Trust••
THE SANTS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Accountlng poll¢lo• Charlty Infomiatlon The Sants Charilablo Trust is a charity registered in England and Wal8s by th8 Charity Commission (charity number 1078555). Details of the piincipal address are given on the legal and adminislratsv8 information pago of the financial stalemenls. The charity's operations and principal activities are described in the Tru$tee$' Report. Accountlng conventlon The financial slalem8nls have been prepared in accordance with applicable accounting standards under the hisloncal convention with a$$&ts and liabililigs initially recognised al hlstorical cost except for certain investments which are held at market valuation, as staled in the relevant notes to th6s8 accounts. Th8 financial statements have been prepared in accordance with the Accounling and Reportlng by Charili8S preparing their accounts in accordance with the Financial Roporting Standard applicable in th8 UK and Republic of Ireland IFRS 1021 second edition leffeetsve l January 20191 and the Charities Act 2011. The flnanclal statements have departed from the Charlll8s (Accounts and Reports) Regulations 2008 only to the exlenl required lo provide a true and fair view. This departure has involved following the Statement of R8comm8nded Practice for Charits'es applying FRS 102 rather than the version of the Statement of Recomm8nded Practice which is referred to in the R8gulalions but which ha8 since been withdrawn. The charity constitutes a public benefit entity a8 d8finod by FRS 102. The financlal stslemenls ar8 prepared In sterling, which is the funcllonal currency of the ch8rSly. Monetary amounts in Ihese financial statements are rounded to Ihe nearest £. Golng conc•rn The Trusleos are not aware of any material uncertainties rolated to events or conditions that may cast significant doubl about the ability of the charity to continue as a going con¢am and hav8 a r8asonable expectation that the charity has adequate resources lo continue in operational existence for the foreseeable future. In the view of the Trustees, the charity has sufficient reserv&s to fX*ntlnue In operation for al least velve months after the approval of th8 financial stalemenls. Thus they conllnu8 lo adopt the going concem ba81s of accounting In preparing the financial stalemenls. Charltabl• funds The funds of the charity are Segregaled betsveen the Unrestricted A¢¢umulated Income Fund and the expendable Endowment Fund in the year the incomelexpenditure is ree¢ived or spent. Donations, investment Income, grants paid and sUPPOrt costs are allocated to the Unrestricted Accumulated Income Fur)d. At the end of each year, the net movement of the Unreslrlcted Accumvlaled Income Fund Is transferred lomrom the Endowment Fund and carri8d forward in the Endowment Fund ras6rva$. The Unre5tricled Accumulated Income Fund is 8vailable lor the Trusteeg to use in 8cco¥dance with the charity's objects and the Endowment Fund is used 10 8UPPOrt the Unr88trict6¢ Accumulatad Income Fund. Income All income is recognised once the charity has entstlement to il. it is probable that it will be received and the amounl receivable can be measured reliably. Donations Donations are accounted for on a recelv8ble bas1S.
THE SANTS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Accountlng pollGlo• (Continuèd) Invostrnent Incom• Interest on funds held on deposit is Included when recelv8ble and the amount can be measured reliably by the charily., this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the divldend has been dedared and notification has been received of the dividend due. Thls Is normally upon notiflcalion by tho investment advisor of divid8nd yiéld of the investment portfolio. Expondltur• Liabilities are recognised as expenditure as soon as there Is a legal or con3tructlve oblig8tion committing the charity lo the expendilure,11 is probable Ihal settlement will be required and Ihe amount of th6 obligation can be measured reliably. Ail oxpanditure is acunted for on an accruals basis. AJI oxpenses, includin9 $UPPOrt cost8 and governance costs, are alloGaled or apportioned lo the applicable expènditure headlng. Grants payable aTe payments made lo Ihird p8rtie8 in furtherance of the charilable objectives and are charged in the year when tha offer is conveyed lo the r8ciplent. Gov8mance costs relat8 to the public a¢countabllity of the charity and regulatory ¢ompliance. Govemance costs are apportioned to chadtable actsvlti. Flxed asset Invg•tm•nl• Investments are a form of ba81¢ financial instrument and ar8 Initially cognISed at thelr transaction value and Jubsequently measur8d at their fair value as at lh8 balance sheet dale uslng the Ing quoted market price. The Statement of Financial Actsvilies includes the net gains and loss6s arising on revaluation throughout the year. Crltlcal accountlng ••llmat•• and ludgom•nts In thé application of the charfty's ac(y)untlng poll¢les, the Trustaes afe required to make judgements, Bstimat96 and assumptions about tho carrying amount of assets and li8bilities Ihal are not readily apparent from olh&r sources. The estimates and associated assumptlons ar8 based on h151ofical experlence and olher factors th81 are considered to be rel8vanl. Actual results may differ from these estsmates. The eslimates and underfying assumptlons are reviewed on an ongolng basls. Revlsions lo accounting eslim8tes are r0exnISed in the period in whlch the estlmate is revised. The Trustees do not ¢on8ider thal thore are any critical 851imates or areas of iudgement th8t need to be brought to th8 attgntion of the readers of the financlal ststements. Don•tlon• 2024 2023 Donatlons rèceiv8d 10,000 4,400 Durin9 the year, donations were £10,000 12023.. £4,400) of which £10,000 (2023: £4,400) related to unrestricted funds.
THE SANTS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Inv•stm•nts 2024 2023 Interest income from listed Investmonls Dividend income from Ilst8d Investments 2.609 42,636 1,263 41.608 45.245 42.871 Durlng the year. Income from investments was £45,24512023.' £42,871 } of whlch £45,24512023: £42,871) related to unr8Btrictgd funds. Ral8lng funds 2024 2023 Inveslmenl management co818 3,120 3.166 Ourlng the year, expenditure on raising funds was £3,12012023'. £3,166) of which £3,120 12023.. £3.166} related to the 8ndowm8nl fund. Charltable actlvltlo• 2024 2023 Grants lo inslilution8 Inote 7) 26,250 41,750 Support coBt• 88nk charges F&8$ payable lo independent examiner for independent examination for accounts preparation 14 4,140 4,860 3,960 4,620 35,264 50,330 During the year, expenditure on charitable acllvlties was £35.264 (2023.. £50,330) of which £35,264 12023". £50.3301 related to unrestricted funds.
THE SANTS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Grants to Instltutlons No. of grant# 2024 Orants pay4blo 2024 No. of grants 2023 Grants payable 2023 Arts and Creativi Garsinglon Opera Royal Opora Hous8 Covènt Garden Foundallon Oxford Lieder lo,Cl 9,000 500 19,500 christs.an Activili88'. Holy Trinity chUh Brornpton Friends of Mucknell Abbey Wycombe Deanery The Lambeth P8rtnership Womiinghall Parochial Church Council Buckinghamshire Hislorlc Church8S Trust All Saints Marlow The Centre for Cultural Wltness Friends of Fawlèy Church 5,500 50 1,000 2,600 8,000 so 1,000 3,000 1,200 600 2,500 2,500 5,000 100 10,000 20.850 21,350 nit Develo menl.. Bucklngharnshire Foundallon Cornwall Community Th8 Amb8r Foundallon 100 500 500 100 500 1.100 600 Educatlonal Su Trinity College Thé University of Oxford 300 3,IKIO 300 3,300 300 Counselling Pastoral Trust Turmle Sdion Tms 500 500 1.000 Total grants payable 16 26,250 13 41,750 10-
THE SANTS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Trustees The Trustèes. who are considèred lo be the key management personnel. received no remuneration or gxpens95 for their sgrvicos (2023- £nill. Thorg wgro no gmployggs during the year or the pnor year. Flxed asset Investments Llsted InvoJtm8nts 2024 Valuatlon of MultlA88ot Fund8 Al 6 April 2023 Gain on revalualton 974,347 43,954 At 5 Aprll 2024 1,018,301 Investment accnunt balances are splil as follows.. 2024 2023 Mullb*A8601 Fund8 Cash 1,018,301 62.642 974,347 55,723 1.080,943 1.030.070 10 Crodltorn: amounts falllng duè wlthln one yeaf 2024 2023 A¢¢ruals 9,384 11 Flnancl81 In8trum•nts 2024 2023 Carrylng amount of flnanclal a$sgts Instruments measured al fair value through profit or 1,018,301 974,347 12 Movement In funds Balance at 6 Aprll 2023 Income Expendtture Galns and Transfers BalaTrce at 5 AprS12024 Unreslncted hjnds Endowment fund 55.245 135.2641 {3.1201 119,981} 19.981 1,037,830 43.954 1,098,645 1,037,830 55,245 138,3841 43,954 1,098.645 11
THE SANTS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 12 Movement In funds Icontlnuad) Comparatlv• movement In funds 8alanc8 at 6 Aprll 2022 Income Exp•ndltur• Galns and Transfors Balanc• at 5 Aprll 2023 Unrestricted funds En¢Jowmeni fijnd 47.271 1,104.560 (50.3301 {3.1661 3.059 (3,059) (80.505) 1,037,830 1,104,560 47,271 {53,4961 160,5051 1,037,830 13 Analys1• of net a88•t• b•tweon fund• Endowffl•nt Unre8trl¢tsd Fund Fund8 Total Fund balances al 5 April 2024 are rapresonled by.. Inveslfflents N61 current 888ets 1,080.943 17.702 1,080,943 17,702 1,098,645 1,098,645 Comparatlve analy•l• of net a•s•ts betW•on funds Endowmént Unr•strl¢ted Fund Fund8 Total Fund balances al 5 April 2023 are represented by: Invesimenis Nat ¢urrent a8sels 1,030,OTO 7,760 1,030,070 7.760 1.037,830 1,037.830 14 Relat•d party tran8a¢tlons Durlng the year, unrestricted donations of £10,000 were recelved from Tru$tees12023.' £4.4001- S68 noto 8 for details of Trustees. remuner8tion and expenses. 12-