Registered Charity No. 1084664
` BRIAN AND JILL MOSS CHARITABLE TRUST Report and Financial Statements Year Ended 5 April 2025 gf
BRIAN AND JILL MOSS CHARITABLE TRUST
CONTENTS
Page
Officers and professional advisers 1 Trustees’ report 2-3 Trustees’ responsibilities statement 4 Independent Examiners' Report 5 Statement of financial activities 6 Balance sheet 7 Notes to the financial statements 8-11 sf
BRIAN AND JILL MOSS CHARITABLE TRUST
OFFICERS AND PROFESSIONAL ADVISERS
REGISTERED CHARITY NUMBER
1084664
TRUSTEES AND OFFICERS
Mrs Jill Moss Mr David Paul Moss Mrs Sarah Levy
BANKERS
Coutts & Co 440 Strand London WC2R 0QS INDEPENDENT EXAMINER Bevan Buckland LLP Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA INVESTMENT MANAGERS Evelyn Partners 45 Gresham Street London E2V 7BG REGISTERED OFFICE c/o Deloitte LLP Fusion Point 2 Dumballs Road Cardiff CF10 5BF[a] 1
BRIAN AND JILL MOSS CHARITABLE TRUST
TRUSTEES’ REPORT
TRUSTEES’ REPORT
The Trustees of the charity present their annual Trustees’ Report on the affairs of the charity, together with the financial statements and examinor’s report for the year ended 5 April 2025.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Brian and Jill Moss Charitable Trust is a registered charity, number 1084664 (charitable status obtained on 23 January 2001), the governing instrument being the trust deed dated 2 August 2000. The trustees, who served throughout the year, are summarised on page 1. Appointment of new trustees is at the discretion of the existing trustees. New trustees are briefed about the charity’s objectives and how they have been achieved in the past. RISK MANAGEMENT As part of its business planning process, the trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks. A key risk identified by the Trustees is a potential fall in valuation of investments. To mitigate these risks investment managers are engaged to diversify the investment portfolio. OBJECTIVES AND ACTIVITIES The charity’s income is derived from a portfolio of listed investments, any remaining income after the deduction of expenses is then donated or granted. Donations and grants are made for the benefit of such exclusively charitable objects and purposes that the trustees feel appropriate and towards those in need. Appeals are considered as they are received and the trustees will make donations throughout the year. PUBLIC BENEFIT As the charity is a public benefit entity, the trustees have had due regard to the guidance contained in the Charity Commission’s guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities. In particular the trustees consider how planned activities will contribute to the charity’s aims and the objectives they have set. They consider that they have complied with their duty under section 17(5) of the Charities Act 2011. The charity’s main activities, achievements and benefits are described below. ACHIEVEMENTS AND PERFORMANCE (INCORPORATING FINANCIAL REVIEW AND PLANS FOR THE FUTURE) Gift Aid donations of £100,000 were received during the year from the charity’s trustees (2024 - £100,000). The trustees have claimed a tax repayment of £25,000 in relation to the donations (2024 - £25,000). Investment income for the year was £125,644 (2024 - £120,054). The trust donated a total of £183,200 during the year (2024 – £201,700). The donations, each in isolation, are not material and therefore they are not detailed in the accounts. Ignoring gains on revaluation and disposal of investment assets, the net incoming resources amount to £27,013 (2024 – outgoing £2,646). There was a negative movement of funds for the year of £156,514 (2024 – positive £266,611) which has been transferred to unrestricted funds. The balance of the unrestricted funds at 5 April 2025 amounted to £5,139,663 (2024 - £5,296,177). The value of the investments under management was £4,722,108 at 5 April 2025 (2024 – £4,844,680). The investment portfolio is under discretionary management with the stockbrokers, who undertake a moderate risk investment policy and review the investment performance regularly with the trustees.[f] 2
PUBLIC BENEFIT As the charity is a public benefit entity, the trustees have had due regard to the guidance contained in the Charity Commission’s guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities. In particular the trustees consider how planned activities will contribute to the charity’s aims and the objectives they have set. They consider that they have complied with their duty under section 17(5) of the Charities Act 2011. The charity’s main activities, achievements and benefits are described below. ACHIEVEMENTS AND PERFORMANCE (INCORPORATING FINANCIAL REVIEW AND PLANS FOR THE FUTURE)
BRIAN AND JILL MOSS CHARITABLE TRUST
TRUSTEES’ REPORT (continued)
The trustees intend to continue with their policy of distributing the approximate amount of annual income each year, retaining flexibility over the timing and scale of donations made.
RESERVES
The trustees operate a single unrestricted fund that is represented by the market value of investments and net cash deposits required to generate resources from which charitable donations are made. The capital base of investment is used to generate income for distribution on an annual basis. The trustees have reviewed movements and are comfortable with the position. GOING CONCERN In accordance with their responsibilities, the trustees have considered the appropriateness of the going concern basis for the preparation of the financial statements. After making enquiries, the trustees have reasonable expectation that the Charity has adequate resources to continue in operational existence for the current financial year to 5 April 2025 and for the foreseeable future and that adequate resources are available to meet all obligations. For this reason, the trustees continue to adopt the going concern basis in preparing the financial statements. INDEPENDENT EXAMINERS Each of the persons who is a trustee at the date of approval of this report confirms that: • so far as the trustee is aware, there is no relevant audit information of which the charity’s Independent Examiner is unaware; and • the trustee has taken all the steps that he/she ought to have taken as a trustee to make himself/herself aware of any relevant audit information and to establish that the company’s Independent Examiner is aware of that information. Bevan Buckland LLP have been appointed as Independent Examiners for the year and have indicated their willingness to continue in office as the charity’s Independent Examiner and a resolution for their reappointment will be proposed at the forthcoming Annual General Meeting. The Trustee’s Report, including the Strategic Report, were approved by the Board and signed on its behalf by: ………………………………………. Chair of Trustees David Paul Moss[f] 3
INDEPENDENT EXAMINERS
Each of the persons who is a trustee at the date of approval of this report confirms that:
- so far as the trustee is aware, there is no relevant audit information of which the charity’s Independent Examiner is unaware; and
BRIAN AND JILL MOSS CHARITABLE TRUST
TRUSTEES’ RESPONSIBILITIES STATEMENT
The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: • select suitable accounting policies and then apply them consistently; • observe the methods and principles in the Charities SORP; • make judgments and estimates that are reasonable and prudent; • state whether applicable accounting standards have been followed; and • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.[f] 4
BRIAN AND JILL MOSS CHARITABLE TRUST
INDEPENDENT EXAMINER’S REPORT Year ended 5 April 2025
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF BRIAN AND JILL MOSS CHARITABLE TRUST
I report to the charity trustees on my examination of the accounts of Brian & Jill Moss Charitable Trust for the year ended 5 April 2025. 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 Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. 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. Michael Jones Bevan Buckland LLP Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA Date: .............[gf]
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BRIAN AND JILL MOSS CHARITABLE TRUST
| STATEMENT OF FINANCIAL ACTIVITIES | ||
|---|---|---|
| Year ended 5 April 2025 | ||
| Note | Total | Total |
| Funds | Funds | |
| 2025 | 2024 | |
| £ | £ | |
| INCOME FROM: | ||
| Donations and Legacies: Gift aid donations 100,000 Income tax receivable 25,000 Tax repayment supplement - Investments: Accrued income Interest receivable Quoted securities (217) 4,940 125,644 TOTAL INCOME 255,367 EXPENDITURE ON: Charitable activities 2 183,200 Support costs 3 45,154 TOTAL EXPENDITURE 228,354 NET INCOME Net (Loss)/Profit on investments Prior year book cost adjustment 9 8 27,013 (183,135) (392) NET MOVEMENT IN FUNDS (156,514) Total funds brought forward 5,296,177 Total funds carried forward 8 5,139,663 The above activities relate entirely to unrestricted funds. The following notes form an integral part of these financial statements. There were no other recognised gains or losses other than those listed above and the net income for the year. All income and expenditure derives from continuing activities. ~~&~~ |
100,000 25,000 - (217) (37) 5,477 120,054 250,494 201,700 51,440 253,140 (183,135) (392) (2,646) 269,621 (364) (156,514) 266,611 5,029,566 5,296,177 There were no other recognised gains or losses other than those listed above and the net income for the year. All |
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BRIAN AND JILL MOSS CHARITABLE TRUST
BALANCE SHEET Year ended 5 April 2025
| Note | |||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| FIXED ASSETS | |||
| Investments | 9 | 4,722,108 | 4,844,680 |
| CURRENT ASSETS | |||
| Cash at bank and in hand | 440,533 | 465,120 | |
| Debtors | 4 | 272 | 497 |
| Tax recoverable - 5,162,913 CREDITORS:amounts falling due within one year 5 (23,250) NET CURRENT ASSETS 5,139,663 FUNDS Unrestricted funds 5,139,663 The financial statements of Brian and Jill Moss Charitable Trust, registered charity number 1084664, were approved by the Trustees and authorised for issue on .................................................... They were signed on its behalf by: .................................................. David Paul Moss Chair of Trustees o~~f~~ |
25,000 5,335,297 (39,120) 5,296,177 5,296,177 The financial statements of Brian and Jill Moss Charitable Trust, registered charity number 1084664, were |
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BRIAN AND JILL MOSS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS Year ended 5 April 2025
1. ACCOUNTING POLICIES Basis of accounting 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 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. The accounting policies that the Trust has adopted to determine the amounts included in respect of material items shown in the Balance sheet and also to determine the income and expenditure have been applied consistently in the current and preceding year and are shown below. Going concern The charity’s activities, results and future plans are disclosed in the trustees’ annual report. The trustees have assessed the balance sheet and likely future cash flows of the charity at the date of approving the financial statements. The trustees believe that the charity is well placed to manage its business risks successfully despite the current uncertain economic outlook. The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The Trustees therefore consider that the going concern assumption is an appropriate basis on which to prepare these financial statements. Income Income is recognised when the Charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably. Income from investments is recognised when receivable and the amount can be measured reliably by the charity. Income from donations is recognised when received by the charity. Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation. Income tax recoverable in relation to the investment income is recognised at the time the investment income is receivable. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid. Expenditure 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. Liabilities are recognised when an obligation arises to transfer economic benefits as a result of past transactions and events. Expenditure is classified under the following activity headings: Expenditure on raising funds includes the costs incurred in generating investment income. Expenditure on charitable activities are the donations payable to registered charities. Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include governance costs which support the Trusts activities. The basis on which support costs have been allocated are set out in note 3. All expenditure is accounted for on an accrual basis, inclusive of any VAT, which cannot be recovered and[f] is recognised when there is a legal or constructive obligation to pay for expenditure. 8
The charity’s activities, results and future plans are disclosed in the trustees’ annual report. The trustees have assessed the balance sheet and likely future cash flows of the charity at the date of approving the financial statements. The trustees believe that the charity is well placed to manage its business risks successfully despite the current uncertain economic outlook. The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The Trustees therefore consider that the going concern assumption is an appropriate basis on which to prepare these financial statements.
BRIAN AND JILL MOSS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS Year ended 5 April 2025 Fund accounting All funds are unrestricted and may be spent at the discretion of the trustees in furtherance of the objectives of the charity. Taxation Brian and Jill Moss Charitable Trust is a registered charity, subject to the taxation reliefs applicable to charities. As all income is applied to furtherance of the objectives of the charity, it is exempt from corporation taxation. Investments Investment assets are stated at valuation. Cash and cash equivalents Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than twenty-four hours. Cash equivalents are highly liquid investments that mature no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change and value. Creditors Creditors are recognised at the settlement amounts Debtors Debtors are recognised at the settlement amounts Financial Instruments The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Critical accounting judgements and key sources of estimation and uncertainty In applying the company’s accounting policies, the Directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates; however, during the year to 5 April 2025 no significant estimates have been made. Cash flow statement A statement of cash flows has not been prepared as the Charity has taken advantage of the exemption available in the SORP for smaller charities. 2. ANALYSIS OF EXPENDITURE Total Total 2025 2024 £ Charitable activities 183,200 Support costs 45,154 228,354 All support costs have been allocated to one charitable activity. None of the Trustees received any remuneration or expense during the year (2024 – Nil).[e][f] 9
| Charitable activities Support costs [e][f][f] |
Total 2025 £ 183,200 45,154 228,354 |
Total 2024 £ 201,700 51,440 253,140 |
|---|---|---|
BRIAN AND JILL MOSS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS Year ended 5 April 2025
| 3. | ANALYSIS OF SUPPORT COSTS | ||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Accountancy fees | 10,080 | 11,070 | |
| Accountancy fees – administration | 2,016 | 1,823 | |
| Accountancy fees – repayment claims | 1,344 | 1,728 | |
| Accountancy fees – (over)/underprovision in | |||
| 4. 5. 6. 7. |
prior year Bank charges Dividend collection charges Independent Examiners fee Investment management fees LEI Fees (4,700) 100 350 1,104 35,058 72 Investment management fees (over)/underprovision in prior year (270) 45,154 DEBTORS Amounts falling due within one year: 2025 £ Accrued income 272 CREDITORS Amounts falling due within one year: 2025 £ Accruals 23,250 ULTIMATE CONTROLLING PARTY The charity is controlled by the trustees of Brian and Jill Moss Charitable Trust. RELATED PARTY TRANSACTIONS Donations of £100,000 (2024 - £100,000) were received from the charity’s trustees in the year. There were no other related party transactions. ~~&~~ |
2,304 100 299 1,020 33,024 72 - 51,440 2025 £ 2024 £ 272 497 2025 £ 2024 £ 23,250 39,120 Donations of £100,000 (2024 - £100,000) were received from the charity’s trustees in the year. There were |
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BRIAN AND JILL MOSS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS Year ended 5 April 2025
8. MOVEMENT IN UNRESTRICTED FUNDS 2025 Balance Income Expenditure Gains/Losses Book Cost Balance brought Adjustment carried forward forward £ £ £ £ £ £ General Funds 5,296,177 255,367 (228,354) (183,135) (392) 5,139,663 2024 Balance Income Expenditure Gains/Losses Book Cost Balance brought Adjustment carried forward forward £ £ £ £ £ £ General Funds 5,029,566 250,494 (253,140) 269,621 (364) 5,296,177 9. FIXED ASSET INVESTMENTS All investments except £182,256 which is the trustee's cash held by the investors are listed or traded on a recognised stock exchange, these are held at valuation. 2025 2024 £ £ Balance brought forward 4,844,680 4,529,860 Acquisitions 593,733 618,816 Proceeds (533,170) (573,617) (Loss)/Profit on realised gains (37,350) 32,342 (Loss)/Profit on unrealised gains (145,785) 237,279 Balance carried forward 4,722,108 4,844,680 ~~&~~ 11