Charity number 1114129
The Elizabeth and Richard Wilson Charitable Fund
Trustees’ Report and Accounts
For The Year Ended 10 May 2025
(CG mha
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THE ELIZABETH AND RICHARD WILSON CHARITABLE FUND
CONTENTS
YEAR ENDED 10 MAY 2025
| Page | |
|---|---|
| Trustees’ Annual Report | 1 |
| Independent Examiner's Report | 4 |
| Receipts and Payments Account | 5 |
| Statement ofAssets and Liabilities | 7 |
| NotestotheAccounts | 8 |
THE ELIZABETH AND RICHARD WILSON CHARITABLE FUND
TRUSTEES’ ANNUAL REPORT
YEAR ENDED 10 MAY 2025
The trustees have pleasure in presenting their report and the unaudited accounts of the Charity for the year ended 10 May 2025.
Constitution and Objectives
The Trust was established following the death of Richard Wilson on 25 February 2004 under the terms of his will dated 01 March 2002 as amended by a deed of variation dated 01 September 2006, with the objects of:
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a) Donating 10 % of income to the vicar and churchwardens of the parish church of Warton for the upkeep of the graveyard.
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b) Donating 10 % of income to the superintendent minister of the circuit in the Methodist connection for the Warton Methodist Chapel.
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Cc) Donating 10 % of income to Warton Parish Council for annual educational grants.
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d) Applying 70 % of income of the fund for the following objects as the Trustees in their absolute discretion consider fit:
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i) The furtherance of the religious and other charitable work of the Church of England in Lancaster, Morecambe and Carnforth and the surrounding rural areas.
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ii) The furtherance of the religious and other charitable work of the Methodist Church in Lancaster, Morecambe and Carnforth and the surrounding rural areas.
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iii) Enabling parish churches in Lancaster, Morecambe and Carnforth and the surrounding rural areas to be kept in good order and repair.
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iv) Enabling Methodist parishes in Lancaster, Morecambe and Carnforth and the surrounding rural areas to be kept in good order and repair.
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v) Helping young people resident in Lancaster, Morecambe and Carnforth and the surrounding rural areas so as to develop their physical, mental and spiritual capacities that they may grow to full maturity as individuals and members of society.
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vi) Awarding scholarships, exhibitions, bursaries or maintenance allowances tenable to any school or other educational establishment approved by the trustees to persons under the age of 18 years who are resident in Lancaster, Morecambe and Carnforth and the surrounding rural areas. :
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vii) The furtherance of the objects of the Scout Association or any unit thereof, the Guide Association or any unit thereof or any other charitable youth organisations in Lancaster, Morecambe and Carnforth and the surrounding rural areas.
The Trust was registered as a charity on 10 May 2006 with registration number 1114129.
1
THE ELIZABETH AND RICHARD WILSON CHARITABLE FUND
TRUSTEES’ ANNUAL REPORT (continued)
YEAR ENDED 10 MAY 2025
The Trustees
The trustees who served during the year were as follows:
Susan Elizabeth Hodgson Sally Margaret Richardson
Michael Rowlinson
John Shakespeare
The trustees were all appointed following the registration of the Charity with the Charity Commission. Further trustees would be recruited and appointed on recommendation from or to the existing board.
Activities, achievements and year end position
In planning our activities for the year we kept in mind the Charity Commission’s guidance on public benefit. Various charities and individuals have benefitted from the support of the Trust in accordance with its objectives.
Applications for funding are welcomed from charities and individuals in Lancaster, Morecambe, Carnforth and the surrounding rural areas and donations of £23,849 (2024: £19,890) have been made during the year.
At the year end the charity had total monetary and non-monetary assets of £1,127,474 (2024: £1,111,286).
Reserves Policy
The Capital reserve is held with the purpose of generating future income. The income reserve is to be distributed in accordance with the object set out in the governing document. Any unspent income is carried forward for distribution in future periods.
Independent examiner
The Trustees appointed Jack Steer of MHA, Chartered Accountants and Business Advisors, as Independent Examiner, to carry out the Independent Examination of the Charity's accounts.
Other relevant organisations
Investment managers Atomos Investments Limited 2nd Floor
5 Hatfields London SE1 9PG
PA
THE ELIZABETH AND RICHARD WILSON CHARITABLE FUND
TRUSTEES’ ANNUAL REPORT (continued)
YEAR ENDED 10 MAY 2025
Signed on behalf of the Trustees on 30 ery ORS by:
Qe duaduioa aehemecinanetin eee S E Hodgson \ wi f VAY, * C naa Kuckard fo dg IMA Woche defn. S M Richardson — WR M Rowlinson i J Shakespeare Principal Office clo Joseph A Jones & Co 6 Fenton Street Lancaster LA1 1TE
3
THE ELIZABETH AND RICHARD WILSON CHARITABLE FUND
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE ELIZABETH AND RICHARD WILSON CHARITABLE FUND
FOR THE YEAR ENDED 10 MAY 2025
| report to the charity trustees on my examination of the accounts of the charity for the year ended 10 May 2025 which are set out on pages 5 to 13.
Responsibilities and basis of report
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
| report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
| have completed my examination. | 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 charity as required by section 130 of the Act; or 2. the accounts do not accord with those records
| 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.
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Jack Steer BA(Hons) ACA Independent Examiner MHA Chartered Accountants
14 Mannin Way
Lancaster Business Way Lancaster Lancashire LA1 3SW
4
THE ELIZABETH AND RICHARD WILSON CHARITABLE FUND
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED 10 MAY 2025
| Note | 2025 | 2025 | 2025 | 2024 | |
|---|---|---|---|---|---|
| Income | Movement | ||||
| and | on | Total | Total | ||
| Expenses | Investments | ||||
| £ | £ | £ | £ | ||
| Income Receipts | |||||
| Bank Deposit Interest | 1,010 | - | 1,010 | 1,393 | |
| Investment Dividends (Net) | 3 | 34,251 | - | 34,251 | 29,093 |
| Proceeds from Sale of Investments | 5/6 | - | 100,728 | 100,728 | 1,207,615 |
| 35,261 | 100,728 | 135,989 | 1,238,101 | ||
| Other Payments | |||||
| Purchase of Investments | 5 | - | 131,708 | 131,708 | 1,147,346 |
| Administrative Expenditure | |||||
| Independent Examinerfees | 1,548 | - | 1,548 | 1,410 | |
| Joseph A Jones professional fees | 5,454 | - | 5,454 | 7,438 | |
| Sanlam Management professional | fees | 9,740 | - | 9,740 | 8,761 |
| The Insurance Centre | 359 | - | 359 | 316 | |
| Bank Charges | 46 | = | 46 | 46 | |
| Sundry Expenses | 101 | - | 101 | 92 | |
| 17,248 | 131,708 | 148,956 | 1,165,409 | ||
| Receipts less otherpayments | 18,013 | (30,980) | (12,967) | 72,692 | |
| Donations | |||||
| Donations made | |||||
| Warton Parish Church Churchyard | 1,242 | - | 1,242 | - | |
| Trust | |||||
| Warton Methodist Church - not cashed | - | - | - | - | |
| Warton Parish Council | 1,242 | - | 1,242 | - | |
| Other | 7 | 21,365 | - | 21,365 | 19,890 |
| 23,849 | - | 23,849 | 19,890 |
The Notes on pages 8 to 13 form part of these Accounts
5
THE ELIZABETH AND RICHARD WILSON CHARITABLE FUND
RECEIPTS AND PAYMENTS ACCOUNT (continued)
FOR THE YEAR ENDED 10 MAY 2025
| Note | 2025 | 2025 | 2025 | 2024 | ||
|---|---|---|---|---|---|---|
| Income | Movement | |||||
| and | on | Total | Total | |||
| Expenses | Investments | |||||
| £ | £ | £ | £ | |||
| Net Receipts / (Payments) | (5,836) | (30,980) | (36,816) | 52,802 | ||
| Bank Balances at | 11 May2024 | (72,534) | 139,639 | 67,105 | 14,303 | |
| Reallocation offunds for distribution | 5,591 | (5,591) | - | - | ||
| BankBalancesas | at10May2025 | (72,779) | 103,068 | 30,289 | 67,105 |
The Notes on pages 8 to 13 form part of these Accounts
6
THE ELIZABETH AND RICHARD WILSON CHARITABLE FUND
STATEMENT OF ASSETS AND LIABILITIES
AS AT ENDED 10 MAY 2025
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Note 2025 2024
£ £
Monetary Assets
Cash at Bank
Atomos Private Investments Cash Accounts 24,416 64,436
Cumberland Building Society 5,873 2,669
30,289 67,105
Non-Monetary Assets
Investment Assets (at Valuation)
Atomos Private Investments Portfolio 4/5 1,097,185 1,044,181
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These accounts were approved by the Trustees on 39 Ine ¢O252?
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S E Hodgson Ssa
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J Shakespeare Gla.
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The Notes on pages 8 to 13 form part of these Accounts
7
THE ELIZABETH AND RICHARD WILSON CHARITABLE FUND
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 10 MAY 2025
- 1 Accounting Policies
Basis of Preparation
The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Accounting Practice.
However, the Trust qualifies as a small charity and in accordance with section 133 of the Act, the accounts are presented on a receipts and payments basis.
2 Outstanding Payments
At 10 May 2025 the Charity has no liabilities relating to the period that had not yet been invoiced.
8
THE ELIZABETH AND RICHARD WILSON CHARITABLE FUND
NOTES TO THE ACCOUNTS (continued)
FOR THE YEAR ENDED 10 MAY 2025
| 3. | Investment Income (net) | Investment Income (net) | UK Equity | Overseas | |||||
|---|---|---|---|---|---|---|---|---|---|
| & Unit | Unit | Alternative | UK Fixed | Overseas | |||||
| Fixed | |||||||||
| Trust | Trust | Investment | Income | Income | |||||
| Dividends | Dividends | _Dividends | Distributions | Distributions | Total | ||||
| £ | £ | £ | £ | 22 | £ | ||||
| Atlas | 1,031 | - | - | - | - | 1,031 | |||
| Axa Fixed Interest | - | - | - | 933 | - | 933 | |||
| Blackrock FM LTD | 1,548 | - | - | - | - | 1,548 | |||
| Bny Mellon Efficient US | 2,984 | - | - | - | - | 2,984 | |||
| Bny Mellon High Yield | 6,396 | - | - | - | - | 6,396 | |||
| Brown | 64 | - | - | - | - | 64 | |||
| European Spec InvM&G | M&G Cred InvA | 717 | - | - | - | - | 717 | ||
| iShares USD | 870 | - | - | - | - | 870 | |||
| iShares Core UK | 436 | - | - | - | - | 436 | |||
| iShares USD 20 years | 1,891 | - | - | - | - | 1,891 | |||
| Jupiter | 224 | - | - | - | - | 224 | |||
| Legal and General UT Short Dated | 669 | - | - | - | - | 669 | |||
| MI Metropolis | 144 | - | - | - | - | 144 | |||
| Robeco | 1,214 | - | - | - | - | 1,214 | |||
| State St Global Japan Screened | 296 | - | - | - | - | 296 | |||
| State St Global Pac | Ex-Japan Screened | 208 | - | - | - | - | 208 | ||
| State Street Global | US | 464 | - | - | - | - | 464 | ||
| State Street Global | Multifactor | 2,559 | - | - | - | - | 2,559 | ||
| State St Global Tsy | 631 | - | - | - | - | 631 | |||
| State St Global Emerging Markets | 3,945 | ~ | - | - | - | 3,945 | |||
| State Street Global | Aggregated | 1,641 | - | - | - | - | 1,641 | ||
| State Street Global | Advis SSWLD ESG | 719 | - | - | - | - | 719 | ||
| State Street Global | Europe | 310 | - | - | - | - | 310 | ||
| State Street Global World Screened | 1,132 | - | - | - | - | 1,132 | |||
| State St Global Emerging Markets Screenex | 1,108 | - | - | - | - | 1,108 | |||
| State Street Sus Climate | 1,932 | - | - | - | - | 1,932 | |||
| Veritas | 81 | - | - | - | - | 81 | |||
| Vulcan | 104 | - | - | - | - | 104 | |||
| 33,318 | - | - | 933 | - | 34,251 |
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THE ELIZABETH AND RICHARD WILSON CHARITABLE FUND
NOTES TO THE ACCOUNTS (continued)
FOR THE YEAR ENDED 10 MAY 2025
| 4 | InvestmentAssets | Nominal | Book | Market |
|---|---|---|---|---|
| Amount | Cost | Value | ||
| @ 10/5/25 | @ 10/5/25 | @ 10/5/25 | ||
| No | £ | £ | ||
| Atlas Global Infra B GBP UNH Inc |
145 | 20,906 | 20,857 | |
| Axa Fixed Int InvAxa Crbn Trnstn Buy Inc | 20,712 | 20,184 | 20,920 | |
| Blackrock ishares UK Equity Index (UK) D Inc | 39,911 | 44,024 | 45,689 | |
| BnyMellom Glb Fds Efficient US Fall Angl Beta Inc | 46,109 | 38,114 | 37,136 | |
| Bny Mellom Glb FdsUS Hi Yld Beta GBP Dis H Inc | 99,055 | 84,185 | 84,048 | |
| Brown Advisory Fds Global Leaders SI GBP Dis Inc | 855 | 11,908 | 14,363 | |
| European Spec Inv M&G Cred Inv AGBP Hgd Dis |
203 | 21,466 | 22,320 | |
| Insight Liquidity ILF GBP Lqdty Plus 2 Acc | 1,743 | 2,672 | 2,815 | |
| iShares FTSE All stocks GILT | 2,152 | 22,084 | 24,552 | |
| Ishares lv Plc USD Treasur Bd 20Yr Ucit ETF | 15,523 | 48,579 | 46,383 | |
| Jupiter Gbl Val Eqty |
GBP Inc | 13,045 | 8,439 | |
| Legal & Gen Gb! R/e L&G Gbl R/est Div IdxC Dis | 35,632 | 20,560 | 20,531 | |
| MI Metropolis Value Fd S D Inc | 3,930 | 11,761 | 14,006 | |
| Robeco Cap Gth Fds Robeco QI Gbl Multi FactorZ | 207 | 21,389 | 21,569 | |
| SSGA State Street MultiFac Glb ESG Eq B GBP Inc | 11,524 | 120,204 | 145,505 | |
| SSGA State Street Sust ClmtWId Eq B GBP Inc | 10,230 | 117,399 | 146,256 | |
| State St Gbl Advis SS Emg Mkts Hard Ccy Govt B | 5,235 | 53,623 | 54,315 | |
| State St Gbl Advis SS Gb! Emg Mkt Screened IdxB | 4,298 | 44,070 | 47,686 | |
| State St Gbl Advis SS Jpn Screened Idx Eqty B GBP Inc | 1,370 | 15,654 | 16,033 | |
| State St Gbl Advis SS Pac Ex-Japan Screened GBP Inc | 537 | 5,122 | 5,558 | |
| State St Gbl Advis SsWid ESG Idx Eq B GBP Dis Inc | 4,044 | 45,525 | 50,544 | |
| State St Gbl Advis State St Us Screened Inc | 3,033 | 41,739 | 50,586 | |
| State St Gbl Advis State St Europe Screene Inc | 927 | 10,011 | 11,173 | |
| State St Gbl Advis State StWid Screened Inc | 5,763 | 71,199 | 82,710 | |
| State StGbl Advis State Street Gbl Aggrg Bd Inc | 5,593 | 57,050 | 58,497 | |
| State StGbl Advis State Street Gbl Tsy Bd Idx nc | 2,422 | 25,453 | 25,291 | |
| Veritas Funds Plc Veritas Gbl Focus D Dis Inc | 184 | 11,835 | 13,586 | |
| Vulcan Gbl Val Fd Vulcan Val Eqty iiiGBP Dis Inc | 67 | 7,336 | 8,813 | |
| 1,002,491 | 1,097,185 |
Investment assets are included in the statement of assets at their market value.
10
THE ELIZABETH AND RICHARD WILSON CHARITABLE FUND
NOTES TO THE ACCOUNTS (continued)
FOR THE YEAR ENDED 10 MAY 2025
| 5 | Movement on Valuation | |||||||
|---|---|---|---|---|---|---|---|---|
| Increase/ | ||||||||
| Valuation | Purchases | (Decrease) | Valuation | |||||
| @ 10/5/24 | at Cost | Disposals | in Valuation | @ 10/5/25 | ||||
| £ | £ | 2 | £ | & | ||||
| Atlas Global Infra B GBP UNH Inc |
20,720 | - | - | 137 | 20,857 | |||
| Axa Fixed Int InvAxa Crbn Trnstn Buy Inc | 21,147 | - | - | (228) | 20,919 | |||
| Blackrock ishares UK Equity Index (UK) D Inc | 44,848 | - | - | 841 | 45,689 | |||
| Bny Mellom Glb Fds Efficient US Fall Angl Beta Inc | 29,740 | 8,615 | - | (1,218) | 37,137 | |||
| BnyMellom Glib FdsUS HiYld BetaGBP Dis H Inc | 62,048 | 22,552 | - | (552) | 84,048 | |||
| Brown Advisory Fds Global Leaders SI GBP Dis Inc | 13,798 | - | - | 565 | 14,363 | |||
| European Spec InvM&G Cred InvAGBP Hgd Dis | 21,406 | - | - | 915 | 22,321 | |||
| Insight Liquidity ILFGBP Lqdty Plus 2 Acc | 2,675 | - | - | 140 | 2,815 | |||
| iShares FTSE All stocks GILT | - | 22,084 | - | (532) | 21,552 | |||
| Ishares lv PlcUSD TreasurBd 20Yr UcitETF | 48,700 | 22,863 | 24,810 | (370) | 46,383 | |||
| iShares USD Tips UCITS ETFGBP Dis | 25,572 | - | 25,659 | 87 | - | |||
| JupiterGb! Val Eqty |
GBP Inc | 8,828 | - | - | (385) | |||
| Legal & Gen Gbl R/e L&G Gbl R/est Div Idx C Dis |
20,531 | - | - | = | 20,531 | |||
| MI Metropolis Value Fd S D Inc | 13,773 | - | - | 233 | 14,006 | |||
| Robeco Cap Gth Fds Robeco QI Gbl Multi FactorZ | 21,594 | - | - | (25) | 21,569 | |||
| SSGA State Street MultiFac Glb ESG Eq B GBP Inc | 142,190 | - | - | 3,316 | 145,506 | |||
| SSGA State Street Sust ClmtWid Eq B GBP Inc | 149,167 | - | 13,704 | 10,793 | 146,256 | |||
| State StGb] Advis SS Emg Mkts Hard Ccy Govt B | 39,918 | 14,489 | - | (93) | 54,314 | |||
| State St Gbl AdvisSS Gbl Emg MktScreened Idx B | 47,635 | - | “ | 51 | 47,686 | |||
| State St Gbl AdvisSS Jpn Screened Idx Eqty B GBP Inc | 16,019 | - | - | 14 | 16,033 | |||
| State St Gb! AdvisSS Pac Ex-Japan Screened GBP Inc | 5,467 | - | - | 90 | 5,557 | |||
| State St Gbl Advis Ss Wid ESG Idx Eq B GBP Dis Inc | 49,495 | - | - | 1,049 | 50,544 | |||
| State St Gbl Advis State St Us Screened Inc | 49,460 | - | - | 1,126 | 50,586 | |||
| State St Gbl Advis State St Europe Screene Inc | 11,134 | - | - | 39 | 11,173 | |||
| State St Gbl Advis State StWid Screened Inc | 61,276 | 21,077 | 4,105 | 4,462 | 82,710 | |||
| State St Gbl Advis State Street Gbl Aggrg Bd Inc | 57,243 | - | - | 1,254 | 58,497 | |||
| State StGbl Advis State Street Gbl TsyBd Idxnc | 37,530 | 20,028 | 32,450 | 183 | 25,291 | |||
| Veritas Funds Plc Veritas Gbl Focus D Dis Inc | 13,409 | 177 | 13,586 | |||||
| Vulcan Gbl Val Fd Vulcan Val Eqty iii GBP Dis Inc | 8,858 | - | - | (45) | 8,813 | |||
| 1,044,181 | 131,708 | 100,728 | 22,024 | 1,097,185 |
__————————————————
THE ELIZABETH AND RICHARD WILSON CHARITABLE FUND
NOTES TO THE ACCOUNTS (continued)
FOR THE YEAR ENDED 10 MAY 2025
6 Profit/(Loss) on Sale of Investment Assets
| Profit/(Loss) on Sale of Investment Assets | |||||
|---|---|---|---|---|---|
| Proportion | |||||
| Cost prior | ofHolding | ‘Cost’ | Profit/ | ||
| to sale | Sold | of Sale | Proceeds | (Loss) | |
| £ | £ | £ | £ | ||
| Ishares lv Plc USD Treasur Bd 20Yr Ucit ETF | 49,021 | 48% | 23,305 | 24,810 | 1,505 |
| iShares USD Tips UCITS ETF GBP Dis | 25,965 | 100% | 25,965 | 25,659 | (306) |
| SSGA State Street Sust ClmtWid Eq B GBP Inc | 128,760 | 9% | 11,361 | 13,704 | 2,343 |
| State St Gbl Advis State StWid Screened Inc | 53,563 | 6% | 3,441 | 4,105 | 664 |
| State St Gbl Advis State Street Gbl Tsy Bd Idx nc | 37,534 | 86% | 32,109 | 32,450 | 341 |
| 294,842 | 96,181 | 100,728 | 4,547 |
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THE ELIZABETH AND RICHARD WILSON CHARITABLE FUND
NOTES TO THE ACCOUNTS (continued)
FOR THE YEAR ENDED 10 MAY 2025
7 Other Charitable Donations made
| Other Charitable Donations made | 2025 | |
|---|---|---|
| £ | ||
| 1st Halton Beavers | Attendance ofthe RedRoseCamp | 750 |
| Lancasterand District Festival Ltd | LitFest 2025 - the bigreadandArtists inresidenceprogramme | 1,000 |
| St Pauls PCC | SundayCluband Youthgroup | 1,000 |
| Lancaster Christ Church PCC | Evaluate the chimney, pinnacle androoftimberwith viewofrepair/ | 1,000 |
| Elizabeth and Luke Cameron | £500each -Fund trips toDubrovnikandMalawi | 1,000 |
| LancasterBoysand Girls Club | Towardsstaff costs | 1,615 |
| Salt Ayre Cogset | Upgrading toilet facilities atthe track | 3,000 |
| St Lukes Skerton PCC | RepairingandMaintaining thechurch | 2,000 |
| Our Lady's Catholic College | EncounterProgramto visitrefugees in Calais | 3,000 |
| St Barnabas Parish Church, Heysham | Rpairing thechurch organ | 3,000 |
| Friends of the Roods at Warton | Newplaygroundequipment | 3,000 |
| PCC ofWarton | FitSolarPVsystem to roofofchruch | 1,000 |
| 21,365 |
13