2025-03-31-accounts - The Kingslakes Charitable Trust

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REGISTERED CHARITY NUMBER: 1092882

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

THE KINGSLAKES CHARITABLE TRUST

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

	Page
Reference and Administrative Details	1
Report of the Trustees	2 to 3
Independent Examiner's Report	4
Statement of Financial Activities	5
Balance Sheet	6
Notes to the Financial Statements	7 to 12

THE KINGSLAKES CHARITABLE TRUST

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2025

TRUSTEES	Mrs B J Kingslake
	J C O'Connor
	A H Johnson
	S J Turner
	R A Hughes (resigned 27.1.2025)
	Mrs L L Gilman
PRINCIPAL ADDRESS	Lawnswood
	Bowmer Lane
	Fritchley
	Belper
	Derbyshire
	DE56 2FY
REGISTERED CHARITY	1092882
NUMBER
INDEPENDENT EXAMINER	Philip Barnes & Co Limited
	Chartered Accountants
	The Old Council Chambers
	Halford Street
	Tamworth
	Staffordshire
	B79 7RB
BANKERS	Lloyds Bank plc
	17 George Street
	Tamworth
	Staffordshire
	B79 7LW

Page 1

THE KINGSLAKES CHARITABLE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. 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).

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and 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 published in October 2019.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The charity's objectives which are primarily, but not exclusively, for the benefit of the inhabitants of Tamworth and its surrounding villages, are to promote a good community spirit; to promote the advancement of children with special needs; and to improve the quality of life of those adults who are sick, convalescent, disabled, handicapped or infirm. The trustees will not contribute for care at home or residential care.

Significant activities

The Trusts objectives are currently met by way of grant making activities.

Public benefit

The trustees have had due regard to guidance published by the Charity Commission on public benefit and believe all the charity's activities during the period were undertaken for the public benefit.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

During the year trustees made a total of 49 separate grant awards, the majority of which were directly for the benefit of the inhabitants of the local area.

FINANCIAL REVIEW

Review

The endowment funds are invested in accordance with the investment policy below and yielded £121,906 investment income in the period. The overall income and expenditure for the year and valuation movements are shown in the attached financial statements.

Principal funding sources

The principal source of funding received in the year, other than donations, was income generated from the investments.

Investment policy and objectives

The investment return on capital is the only source of on-going income although the trustees have the power to spend the expendable endowment. The trustees have set a policy that the expendable endowment monies should be invested to give a reasonable yield whilst at the same time minimising the level of investment risk. During the year available funds were invested in income and accumulation units of the COIF Charities Investment Fund and a Brewin Dolphin investment portfolio.

Reserves policy

The free reserves of the charity are represented by unrestricted funds not committed or invested in tangible fixed assets and at 31 March 2025 these were £184,712. The trustees maintain sufficient reserves to meet governance costs and utilise the remainder for charitable activities. After the year end the board of trustees approved grant awards of approximately £175,000.

Page 2

THE KINGSLAKES CHARITABLE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a Deed of Trust dated 16 April 2002, and constitutes an unincorporated charity. Both the initial donation and additional amounts donated since have been under terms which allow the trustees to either retain the amounts as capital or to spend them.

Recruitment and appointment of new trustees

The Trusts Settlor has a power of appointment for new trustees and over the years has exercised this power.

Organisational structure

The charity is managed by the trustees which shall number no less than two at any time. The trustees meet formally at least once a year.

Approved by order of the board of trustees on 28 January 2026 and signed on its behalf by:

Mrs B J Kingslake - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE KINGSLAKES CHARITABLE TRUST

Independent examiner's report to the trustees of The Kingslakes Charitable Trust

I report to the charity trustees on my examination of the accounts of The Kingslakes Charitable Trust (the Trust) for the year ended 31 March 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

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:

accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
the accounts do not accord with those records; or
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.

C J Humphreys FCA

Philip Barnes & Co Limited Chartered Accountants The Old Council Chambers Halford Street Tamworth Staffordshire B79 7RB

28 January 2026

Page 4

THE KINGSLAKES CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

Notes INCOME AND ENDOWMENTS FROM Donations and legacies Investment income 3 Total EXPENDITURE ON Raising funds 4 Charitable activities 5 Total Net gains/(losses) on investments NET INCOME / (EXPENDITURE) / NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	Unrestricted fund £ 20,000 121,722 141,722 - 156,500 156,500 - (14,778) 199,490 184,712	Endowment fund £ - 184 184 6,100 - 6,100 (193,833) (199,749) 6,144,739 5,944,990	2025 Total funds £ 20,000 121,906 141,906 6,100 156,500 162,600 (193,833) (214,527) 6,344,229 6,129,702	2024 Total funds £ 60,000 120,912 180,912 5,429 161,930 167,359 549,452 563,005 5,781,224 6,344,229

The notes form part of these financial statements

Page 5

THE KINGSLAKES CHARITABLE TRUST

BALANCE SHEET 31 MARCH 2025

Notes FIXED ASSETS Investments 9 CURRENT ASSETS Debtors 10 Cash at bank CREDITORS Amounts falling due within one year 11 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 12 Unrestricted funds Endowment funds TOTAL FUNDS	Unrestricted fund £ - 1,062 184,850 185,912 (1,200) 184,712 184,712 184,712	Endowment fund £ 5,945,640 - - - (650) (650) 5,944,990 5,944,990	2025 Total funds £ 5,945,640 1,062 184,850 185,912 (1,850) 184,062 6,129,702 6,129,702 184,712 5,944,990 6,129,702	2024 Total funds £ 6,146,039 1,539 198,851 200,390 (2,200) 198,190 6,344,229 6,344,229 199,490 6,144,739 6,344,229

The financial statements were approved by the Board of Trustees and authorised for issue on 28 January 2026 and were signed on its behalf by:

B J Kingslake - Trustee

The notes form part of these financial statements

Page 6

THE KINGSLAKES CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. STATUTORY INFORMATION

The Kingslakes Charitable Trust is an unincorporated charity registered in England and Wales. The charity's address and registered number can be found on page 1 of these financial statements.

2. 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.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following the 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) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

There are no material uncertainties about the charity's ability to continue as a going concern.

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.

Income generated from the COIF Investment Fund and Brewin Dolphin portfolio is unrestricted income and is shown in the general fund.

Donations are recognised when they have been received or communicated in writing with notification of both the amount and settlement date.

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. All expenses, including support costs and governance costs, are allocated or apportioned to the applicable expenditure headings in the statement of financial activities.

Irrecoverable VAT is charged against the expenditure heading for which it was incurred.

Grants payable are payments made to third parties in the furtherance of the charitable objects of the Trust. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award.

continued...

Page 7

THE KINGSLAKES CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

2. ACCOUNTING POLICIES - continued

Raising funds

Expenditure on raising funds includes the endowment fund investment portfolio identifiable management costs. It is not practicable to identify management fees within the COIF investment.

Charitable activities

The expenditure on charitable activities includes grants made, governance costs and a full apportionment of support costs.

Governance costs

Governance costs comprise those costs associated with meeting the constitutional and statutory requirements of the charity and include accountancy fees and costs associated with the strategic management of the charity.

Taxation

The charity is exempt from tax on its charitable activities.

Investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

Investments held for resale or pending their sale and cash and cash equivalents with a maturity date of less than one year are treated as current asset investments.

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. The charity does not hold any restricted funds.

The endowment fund represents an expendable endowment which is increased from time to time by further donations. The trust deed allows this fund to be spent as income or retained as capital at the trustees' discretion. The income arising from the expendable endowment is unrestricted.

3. INVESTMENT INCOME

COIF investment income Portfolio income	2025 £ 99,909 21,997 121,906	2024 £ 97,948 22,964 120,912

continued...

Page 8

THE KINGSLAKES CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

4. RAISING FUNDS

Investment management costs

Investment management costs
	2025	2024
	£	£
Portfolio management	6,100	5,429

5. CHARITABLE ACTIVITIES COSTS Grant funding of activities (see note 6) £ Grant and donation making 154,500 6. GRANTS PAYABLE Grant and donation making The total grants paid to institutions during the year was as follows: Local community based organisations Other charitable organisations The above comprises:- Number of grant awards Number of separate organisations	Support costs £ 2,000 2025 £ 154,500 2025 £ 107,500 47,000 154,500 Local 26 23	Totals £ 156,500
		2024 £ 160,250
		2024 £ 119,000 41,250
		160,250
		Other 23 23

The charity has opted to take advantage of the exemption not to provide names of grant recipients and amounts of such grants during the lifetime of the settlor.

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

continued...

Page 9

THE KINGSLAKES CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

8. INDEPENDENT EXAMINATION

The amount payable to the independent examiner comprised an accountancy and independent examination fee of £1,200 (2024 - £900).

9. FIXED ASSET INVESTMENTS

MARKET VALUE At 1 April 2024 Additions Disposals Revaluations At 31 March 2025	Listed investments £ 6,146,039 141,658 (147,105) (194,952) 5,945,640

The listed investments comprise income and accumulation units in COIF Charities Investment Fund and a portfolio managed by Brewin Dolphin.

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Accrued income 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accrued expenses	2025 £ 1,062 2025 £ 1,850	2024 £ 1,539
		2024 £ 2,200

continued...

Page 10

THE KINGSLAKES CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

12. MOVEMENT IN FUNDS

Unrestricted funds General fund Endowment funds Expendable endowment TOTAL FUNDS Net movement in funds, included in the above are Unrestricted funds General fund Endowment funds Expendable endowment TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Endowment funds Expendable endowment TOTAL FUNDS	as follows: Incoming resources £ 141,722 184 141,906	At 1.4.24 £ 199,490 6,144,739 6,344,229 Resources expended £ (156,500) (6,100) (162,600) At 1.4.23 £ 180,957 5,600,267 5,781,224		Net movement in funds £ (14,778) (199,749) (214,527) Gains and losses £ - (193,833) (193,833) Net movement in funds £ 18,533 544,472 563,005	At 31.3.25 £ 184,712 5,944,990 6,129,702 Movement in funds £ (14,778) (199,749) (214,527) At 31.3.24 £ 199,490 6,144,739 6,344,229

continued...

Page 11

THE KINGSLAKES CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

12. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds General fund Endowment funds Expendable endowment TOTAL FUNDS	Incoming resources £ 180,463 449 180,912	Resources expended £ (161,930) (5,429) (167,359)	Gains and Movement losses in funds £ £ - 18,533 549,452 544,472 549,452 563,005

13. RELATED PARTY DISCLOSURES

During the year a grant award of £8,000 was made to one local charity in which Trustee R A Hughes was also a Trustee. Later in the year R A Hughes was appointed trustee of another local charity which had already received a grant award of £1,000 in the year to 31 March 2025.

During the year donations totalling £20,000 were received without conditions from other related parties.

Page 12