THE BELLASIS TRUST ANNUAL REPORT AND ACCOUNTS YEAR ENDED 5 APRIL 2024 Registered Charity Number 1085972 THE BELLASIS TRUST l N D EX Year ended 5 Aprll 2024 General information Annual report Independent examiner's report Ststement of receipts and payments Statement of assets and Ilabilities Accountlng poliaes N¢ces to the financial statements THE BELLASIS TRUST GENERAL INFORMA TION Year ended S April 2024 Established by Deed 29 December 2000 Trustees PCRWatrs ABTWates A L M Elliot Reglstered charlty number 1085972 Prlnclpal office Wates House Station Approach Leatherhead Surrey KT22 7SW Trust summary The tharity bvas established by a deed dated 29 December 2000. The income and capital of the thariw is held by the trustees for such persons as the trustees See fit. and in particular it Is the intentlon of the trustees to support local charltles for dl$advantaged persons. Independent examlner D C Mellor ACA CTA Dixon Wilson 22 Chancery Lane London WC2A I LS Bankers C. Hoare & Co. 37 Fleet Streec London EC4P 4DQ THE BELLASIS TRUST ANNUAL REPOR T Year ended S April 2024 The trustees submit their report and accounts for the year ended 5 April 2024. A summary of general. information is presentsd on page l and should be read in conjunttion with this report. Trustees The trustees who have served during the year are those shown on page 2. New trustees are recommended by one or more of the existing trus￿eS, and their appointment is considered by the other truS￿e$. The trustees have the power co invest as they think fit any funds not immediately required. Oblèets The oblect of che trust as set out in the Trust Deed is to apply che trust funds, at the trustees. absolu* discretion, to any charitable body, association, or orsanisation in the United Kingdom for charitable purposes, and it is the In￿n(lon of the trustees to mainly sUPPOrt local charitie5 for disadvantaged young people. There have been no changes in these policies since the last annual report. Risk management The truscees have examined the malor strategic, busines5. and operational risks which the charity faces and confirm that systems have been established to enable them to review the financial p051tion so that the necessary steps can be taken co minimise the potential impac¢ of these risks. Public beneflt The crustees, having regard to the public benefit guidance published by the Charicy Commission in accordance with section 17 of the Charities Act 201 I, consider that the purpose and ac¢ivitie5 of the charity 5ati5fy the requirement5 of the public benefic test set out in section 4 of the same att. Organisation The charity is governed by its trustees who may exercise all the powers contained within the trust deed. The management of the financial affairs of the charity is overseen by the trustees. Reserves The tyustees have determined rhat rhe donation of £604.392 received from the Langron Trust on l O April 2001 should be retained. The unexpended net income generated from this gift is available for fucure donations, and is retained by the trustees until suicable donees are identified. Revlew of the year In the year to 5 April 2024. investment income generxted incomlng resources of £56,803 Q023 - £51,414) and £61.805 (2023 - £32,380) was paid out ¢0 34 (2023 29) different causes. Incoming and outgoing resource5 for the year are set out in the Statement of receipts and payments on page 5. In the opinion of the trustees, the chariry's general progress is sat15faccory. Financial statements These are set out on page5 5 to 9. They have been drawn up in compliance with the relevant provi5ion5 of the Charities Act 201 I, and with the Trust Deed. For n behalf of the truste PCRWITES I 20 THE BELLASIS TRUST I NDEPENDENT EXAMINER'S REPOR T Year ended S Aprll 2024 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BELLASIS TRUST I report to the trustee5 on my examinatyon of the accounts of the Trust for the year ended 5 April 2024. Responslbillties and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with Ehe requirements of the Charities Act 2011 ('the Act,). You are satisfied that an audit is not required for this year under charity law and that an independent examination is needed. I rgport in respect of my examlnation of the Trust's accounts carried out under section 145 of the 201 l Art and in carryirsg out my examlnation I have followed all the applicable directions given by the Charity Commission under secrion 145(5){bl of the Act. Dixon Wilson, a flrm of Chariered Accouncants of which l am a partner has provlded bookkeeping services to the Trust and I have applied the FRC'S Revised Ethical Sfandard in carrying out my examination. An independenc examination does not involve gathering all the evidence that would be required In an audit and consequently does not cover all rhe matter5 rhan an auditor considers In giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance Ihat an independent examination can provide. Consequently. l express no opinion as ro whether the accounts presenr a 'true and falr, view and my report is Ilmlted to those specific matters set out ill the independent examiner's statement. Independent examlner's statement l am qualified ¢0 undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales. I have completed my examination. I confirm that no material Mat￿r5 have come to my attention in connection with the examination giving me cause to believe that in any material respect: accountlng racords were not kept in respect of the Trust as required by section 130 of the Act; or the accounts do not accord wlth those records. I have no concerns and have come across no matters in connection with the examlnation co which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. D C Mellor ACA CTA Dixon Wilson 22 Chancery Lane London WC2A I LS 2025 THE BELLASIS TRUST ST A TEMENT OF RECEIPTS AND PA YMENTS Year ended S April 2024 Note Unrestricted Funds 2024 Unrestricted Funds 2023 Receipts Incoming resources Investment income: Dividends Deposit interest Total incomlng resources 49,953 6.850 48.667 2.747 56.803 51.414 Payments Charitable artivities: Charlcable donatlon$ 61,805 32,380 Governance costs". Accoununcy fees Independent examination fee Investment management fee5 Other costs 6.802 1,000 2.978 370 2.878 3.258 11.150 Total payments 65,063 43.530 Net (outzoln8)Ilncomin¥ resource$ for the year (8,260) 7.884 Cash funds at 5 April 2023 Cash funds at 5 Aprll 2024 (page 6) 222.426 214,542 214.166 222.426 All amount5 are in respect of continuing operdtions. THE BELLASIS TRUST ST A TE M ENT OF ASSETS AN D LIABI LITI ES At S Aprll 2024 Note 2024 2023 Flxed assets Investments at market value 946,258 942,360 Current asset$ Short term deposit Cash at bank and in hand {page 5) 1.000 214,166 1,000 222.426 223,426 (2.260) 221.166 215,166 Creditor&' amounts falling due wlthln one year Net current assets (4.660) 210.506 Net usets 1.156,764 1,163.526 Unrestrlcted fund 1,156.764 1.163,526 The receipts and payments accounts on page5 S to 9 Nvere approyed by the trustees on and signed by:_ 2025 PCRWATES ABTWATES A L M ELLIOT THE BELLASIS TRUST ACCOUNTING POLICIES Year ended 5 Aprll 2024 The financial statements have been prepared in accordance with applicable atcounting standards. The particular accounting policies adopted are described below. Basis of accounting The accounts have been prepared on a receipts and payments basis. Investments Investments are included in the Statement of Assets and Liabilitles at their market value. THE BELLASIS TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended 5 April 2024 Charitable donations 2024 2023 Countryside Alliance Dementia Support Institute for Cancer Vaccines and Immunotherapy Mickleham PCC QEF Royal Botanical Gardens Kew Royal Horticultur21 Society Royal Opera House Covent Garden Foundation The Royal Marsden Cancer Charity William Wates Memorial Trust Sunshine & Smiles Smile Train UK Emanuel School General Charitable Trust G.O.S.H The Bank5 Archive Project Ditch the Label 1.000 3.000 1.000 5.000 1.000 3.750 4.280 3,000 1500 750 i 0.000 15.000 4,325 4,280 4,000 540 10.000 1.000 1,000 1,000 Other donations of £500 or less 8,660 8.100 Total 61,805 32,380 Accountan¢y and profe$$ional fees 2024 2023 Accountancy fees Independent examiner's fee 1,900 500 6.802 1.000 2,4C 7.802 THE BELLASIS TRUST NOTES TO THE FI NANCIAL ST A TEMENTS Year ended 5 April 2024 Investments The trustees, investments were made up as follows.. Market value at 5 April 2024 % of total investments Cazenove Invescment Portfolio 946.258 loo% Movement in fixed asset Investments Market value Market value it 6 Aprll 2023 Additions Disposals Reali5ed gain on d1SF￿SaI5 Net unrealised loss on reyaluarlon 942.360 3,898 Market value at 5 April 2024 Investments at market value consist ol 946.258 UK listed investments 946,258 At 5 April 2024 946.258 Credltor&' amounts falling due within one year 2024 2023 Accountancy fee5 Independent examiner's fee 3,660 1.760 500 4,660 2,260 Tru$tee$' remuneratlon and èxpenses Neither the trustees nor any person connected with them received any remuneratlon or reimbursement of expense5 during the year. Related party disclosures During the year donations cotalling £500 (2023 - £750) were made to the William Wate5 memori￿ Trust. One of the trustees of the William Wate5 Memorial Trust is a close family member of a trustee of the Bellasis Trux. There were no specific terms or conditions attached to the donation5 made.