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Annesley (CLW) Trust
Accounts and Trustees’ Report
for the year ended
5 April 2025
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,
HSP Tax & Accounts Ltd Unit F, Whiteacres Cambridge Road Whetstone Leicestershire LE8 6ZG
Annesley (CLW) Trust
Index to accounts dated 5 April 2025
| Page (s) | |
|---|---|
| Trustees’ Report | 1-3 |
| IndependentExaminer’s Report | 4 |
| Statement ofFinancial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the accounts | 7-8 |
| Investments | 9-13 |
| Incomefrominvestments | 14-15 |
Page 1
Annesley (CLW) Trust
Report of the trustees for the year ended 5 April 2025
The trust was created by the Will of Christopher Lewis Wykes who died on 20 April 1985. It is registered as a charity under Charity Commission reference number 1114065. The principal registered address is:
Whitewings 3 Southmeads Road Oadby Leicester LE2 2LR
The trustees at the date of this report, both of whom have held office throughout the year, are:
Mrs Elizabeth Margaret Evans Dr David Lewis Wykes
The power of appointment of new trustees is vested in the present trustees.
The trustees’ agents are:
Bankers: CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Solicitors: Shakespeare Martineau LLP Two Colton Square Leicester . ,; LE! 1QH Accountants: HSP Tax & Accounts Ltd Unit F, Whiteacres Whetstone Leicestershire LE8 6ZG
- Stockbrokers: Charles Stanley & Co. Limited Mercury Place St George Street Leicester LE1 1QG
Independent examiner: T D Fowler, FCA Unit F, Whiteacres Whetstone Leicestershire LE8 6ZG
Page 2
Annesley (CLW) Trust
Report of the trustees for the year ended 5 April 2025 (continued)
Objectives and organisation:
The object of the trust is to distribute income and/or capital for charitable purposes or-to charitable institutions as the trustees may in their absolute discretion from time to time determine.
The income of the trust is derived from its investments and from funds on deposit. The trustees meet regularly to consider appeals for financial assistance and agree the amounts to be donated in each case.
There have been no changes during the year to the objectives of the trust or to the policies adopted in order to achieve those objectives. ,
Investment powers:
The trustees have unrestricted powers of investment.
Review of the year:
Accounts for the year ended 5 April 2025 are attached to this report. The trustees confirm that the accounts comply with current statutory requirements and with the terms of the testator’s Will.
During the year the trustees received gross income of £48,295 from investments and cash deposits. Administration expenses amounted to £6,631. In accordance with the Trust objectives, 7 donations were made amounting to £38,550.
The market value at 5 April 2025 of assets less liabilities was £1,397,408.
Page 3
Annesley (CLW) Trust
Report of the trustees for the year ended 5 April 2025 (continued)
Trustees’ policies:
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Reserves:|The trustees do not consider that there|is|a need for a reserves policy as they|
|.|make donations|to|charitable|purposes|as|and when funds|are|available.|
|Investments:|The|objective|of investment policy|is|to|achieve|a balance|between|capital|
|growth|and|income.|
|Risk management:|The|trust|is|mainly|invested|in|stocks|and|shares|and|the|trustees|do|not|
|consider there is a need for a risk management policy, apart from monitoring|
|the performance|of the|investment|managers.|
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Statement of Trustees’ Responsibilities
The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
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:
-
e select suitable accounting policies and then apply them consistently; e observe the methods and principles in the Charities SORP;
-
e make judgements and estimates that are reasonable and prudent;
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e state whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements; and
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e prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The Trustees are responsible for keeping sufficient accounting records which 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 provision of the Charity’s Constitution. 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.
Mrs Elizabeth Margaret Evans Trustee
Date
- Page 4
Annesley (CLW) Trust
Independent Examiner’s Report to the Trustees of the Annesley (CLW) Trust
I report to the trustees on my examination of the accounts of the Trust for the year ended 5 April 2025, which are set out on pages 5 to 8.
Responsibilities and basis of report
,
As trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no 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 charity as required by Section 130 of the 2011 Act; or
-
‘ the accounts do not accord with those records; or
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. 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.
T D Fowler BA FCA Unit F, Whiteacres Whetstone Leicestershire LE8 6ZG
Date
Page 5
Annesley (CLW) Trust
Statement of Financial Activities for the year ended 5 April 2025
| Unrestricted funds | Unrestricted funds | ||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Note | |||
| Income and expenditure: | |||
| Incomingresources: | |||
| Investment income | 2 | 47,780 | 44,909 |
| Deposit and other interest | 2 | 515 | 323 |
| Total incoming resources | 48,295 | 45,232 | |
| Resources expended: | |||
| Donations | 6&2 | 38,550 | 38,900 |
| Administration expenses | 3 | 6,631 | 6,203 |
| Total resources expended | 45,181 | 45,103 | |
| Net (outgoing)/ incoming resources for theyear | 3,114 | 129 | |
| Other recognised gainsand losses | |||
| Gains/(losses) on investments | 4 | ||
| Realised | 980 | 23,418 | |
| Unrealised | (129,496) | 206,334 | |
| Netmovement in funds | (125,402) | 229,881 | |
| Balance brought forward at 6 April 2024 | 1,522,810 | 1,292,929 | |
| Balancecarriedforwardat5April2025 | £1,397,408 | £1,522,810 |
The notes on pages 7 and 8 form part of these accounts
Annesley (CLW) Trust
Page 6
Balance Sheet at 5 April 2025
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|---|---|---|---|---|---|---|
|2025|2024|
|£|£|
|Note|
|Fixed|assets:|
|Investments|4&2|1,373,708|1,505,500|
|Current|assets:|
|Bank balances|19,689|15,871|
|Stockbrokers’|client|account balances|6,319|3,709|
|26,008|19,580|
|Current|liabilities:|
|Creditors|falling|due within|one year|5|2,308|2,270|
|Net current|assets|23,700|17,310|
|Net|assets:|£1,397,408|£1,522,810|
|Funds:|
|Unrestricted|£1,397,408|£1,522,810|
|Approved by the|trustees|on|
|and|signed on their behalf by|
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Mrs Elizabeth Margaret Evans Trustee
The notes on pages 7 and 8 form part of these accounts
Page 7
Annesley (CLW) Trust
Notes to the accounts for the year ended 5 April 2025
- All funds held during the period are unrestricted and available for the general purposes of the Trust °
2. Basis of preparation
The financial statements have been prepared in accordance with the charities governing document, the Charities Act 2011, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’ ('FRS 102') and the Charities SORP ‘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 charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The trustees consider that there are no material uncertainties about the ability to continue as a going concern.
Accounting policies:
-
a) Income from investments and interest on deposits are included in the accounts when credited or due to be received.
-
b) Administration expenses are dealt with on an accruals basis.
-
c) Donations and grants for charitable purposes are included when paid.
-
d) Investments are shown at their market values
3. Management and administration of the charity
| , | |||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Stockbrokers' charges | 5,695 | 5,267 | |
| Bank charges | 66 | 66 | |
| Accountancyfeespaid tothe Independent | |||
| Examiner | 870 | 870 | |
| 6,631 | 6,203 |
No trustees received remuneration for the the year ended 5 April 2025 or 5 April 2024.
Annesley (CLW) Trust
Page 8
Notes to the accounts for the year ended 5 April 2025 (continued)
| 4. | Fixed asset investments: | Fixed asset investments: | ||
|---|---|---|---|---|
| 2025 | 2024 | |||
| £ | £ | |||
| Listed investments: | ||||
| Marketvalue at 6April 2024 | 1,505,500 | 1,276,717 | ||
| Additions | 0 | 59,415 | ||
| Disposals - proceeds | (3,276) | (60,384) | ||
| - realised gains/(losses) | 980 | 23,418 | ||
| Netunrealised gains/(losses) | (129,496) | 206,334 | ||
| Market value at 5 April 2025 | 1,373,708 | 1,505,500 | ||
| - | Historical cost at 5 April 2025 | 768,809 | 772,139 | |
| 5. | Liabilities -amounts fallingdue withinone year: |
|||
| £ | £ | |||
| Creditors forprofessional fees | 2,285 | 2,270 | ||
| Other creditors | 23 | - | ||
| 2,308 | 2,270 | |||
| 6. | Donations: | £ | £ | |
| Blood CancerUK | 5,000 | |||
| BritishRed Cross | 10,000 | 20,000 | ||
| ChichesterDistrict Scouts | 10,000 | - | ||
| Crisis | 10,000 | - | ||
| GreatMeetingUnitarian Chapel, Leicester | - | 5,000 | ||
| Harris ManchesterCollege | 2,500 | 2,500 | ||
| Royal Holloway&BedfordNew College | 500 | |||
| The Princes’ Trust | - | 5,000 | ||
| The Trussell Trust | - | 5,000 | ||
| West Sussex Music Trust | 550 | 1,400 | ||
| £38,550 | £38,900 |
- There were no outstanding commitments at 5 April 2025
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Page 14
Income from investments - year ended 5 April 2025
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Unit trustinterest (gross): | ||
| Liontrust | 1,026 | 982 |
| JanusHenderson StrategicBond | 736 | 653 |
| JanusHendersonFixed Interest | 1,938 | 1,763 |
| 3,700 | 3,398 | |
| Overseas Interest: | ||
| RoyalLondon SterlingExtra YieldBondFund | 3,448 | 3,374 |
| Morgan StanleyFixed Income | 1,593 | 436 |
| 5,041 | 3,810 | |
| Property income distributions (gross): | ||
| Land Securities Group | 2,821 | 2,765 |
| 2,821 | 2,765 | |
| Unit trust dividends: | ||
| Artemis FundManagers | 1,739 | 1,696 |
| BNYMellonFund | 1,441 | 1,471 |
| 3,180 | 3,167 |
Annesley (CLW) Trust
Page 15
Income from investments - year ended 5 April 2025
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| UKcompany dividends: | ||
| Barclays | 473 | 450 |
| BP | 2,689 | 2,496 |
| Experian | 1,434 | 1,314 |
| GlaxoSmithKline | 976 | 892 |
| Haleon | 124 | 84 |
| Henderson | 1,740 | 1,740 |
| HSBC Holdings | 3,875 | 2,544 |
| JP MorganAmerican Investment Trust | 758 | 687 |
| JP Morgan Global | 1,113 | - |
| LloydsBanking Group | 1,144 | 994 |
| ReckittBenckiserGroup | 1,639 | 1,561 |
| Smiths Group | 306 | 291 |
| SSE | 2,056 | 2,947 |
| Temple BarInvestment Trust | 773 | 660 |
| Tesco | 1,974 | 1,721 |
| Value& Income Trust | 2,723 | 2,643 |
| Worldwide Healthcare Trust | 1,135 | 1,256 |
| 24,932 | 22,280 | |
| Overseas dividends: | ||
| Ferguson | 4,278 | 5,655 |
| GCP Infrastructure Investments | 1,540 | 1,540 |
| JP Morgan Global CoreReal Assets | 630 | 840 |
| Veritas GlobalEqIncome | 1,658 | 1,454 |
| 8,106 | 9,489 | |
| TOTAL | £47,780 | £44,909 |