The Graham and Diane Smith Charitable Trust Registered No. 1115178 The Trustees, report for the twelve months ending 05.04.2024 l The Trustees who served for the whole period were:_ Graham Smith, Diane Smith, Mark Graham Anthony Smith 2 Advisers Solicitors Ward Hardaway 5 Wellington Place Leeds LSI 4AP Bank Virgin Money Waver Green Pudsey LS87 7BG Accountants Brosnans Aireside House Royd Ing Avenue Keighley BD214BZ Stockbroker Charles Stanley & Co 25 Luke Street London EC2A 4AR
contd. 3 Structure. Governance and Management The Charity constituted as a Trust and is governed by a trust deed dated 27.12.05 Objectives a nd Activities The Trustees continue to try and identify charities and not for profit organisations which have a sensible business plan, that with initial funding from the Trust, will enable the recipient organisation to become self-sustaining from recurring trading revenues. A number of projects have been appraised during the last twelve months but none have met our key criteria for funding. The model that the charity supports has been successfully adopted by Ilkley Community Enterprise and the Yeadon Town Hall Management Company. Both these organisations now generate an annual surplus from their trading activities which enables them to fund and develop their charitable objectives going f orward without continual recourse to uncertain annual funding applications. The Trustees continue to look out for other charitable and not for profit organisations that with support from the Trust can develop in the same way. 5 Reserves The charity intends to maintain sufficient reserves to Eenerate a regularinvestment income in excess of £30,000 per annum.
contd... 6 Financial Information In the year to April 2024 the charity made a loss of £18,708 compared to the previous year's surplus of £106,626. The loss was due to losses on the quoted investment portfolio based on market values at the year end. Based on current market values at the end of July the quoted investment portfolio is currently worth over £50,000 than the value recorded at the April 2024 year end. 7 The trustees declare that they have approved the Trustees, Annual Report as set out above. GRAHAM SMITH DIANE SMITH TRUSTEE TRUSTEE I g. LF DATED......
GRAHAM & DIANE SMITH CHARITABLE TRUST YEAR ENDED 5 APRIL 2024 STATEMENT OF FINANCIAL ACTIVITIES
| Incoming resources HMRC Gift Aid Dividends received Interest received Surplus on rental income Total incoming resources Resources expended Charitable donations Support & governance costs Cost of managing unquoted investments Total resources expended Net incoming resources Realised gain on properties Realied (losses) on quoted investments Unrealised gains/(losses) on quoted investments Loan provision Net movement in funds Total funds brought forward Total funds carried forward |
2024 2023 £ £ - 11,012 29,679 16,739 1,229 853 10,471 864 |
|---|---|
| 41,379 29,468 |
|
| 27,500 3,000 739 2,138 - 16,216 |
|
| 28,239 21,353 |
|
| 13,140 8,114 - 96,757 (20,185) (4,375) (11,663) 6,130 - - |
|
| (18,708) 106,626 1,165,761 1,059,135 |
|
| 1,147,053 1,165,761 |
GRAHAM & DIANE SMITH CHARITABLE TRUST YEAR ENDED 5 APRIL 2024 BALANCE SHEET
| Fixed assets Freehold property Quoted investments Unquoted investments Loans net of provisions Current assets Current account Cash held by investment managers Income Tax recoverable Creditors Loan from Trustee Accruals Net current assets Net assets Represented by Unrestricted funds |
£ 70,475 920 - |
2024 £ £ 329,248 577,525 1,086,239 190,200 2,183,212 36,712 1,308 39,006 77,026 (1,102,454) (5,100) (1,036,159) 1,147,053 1,147,053 |
2023 £ 329,248 580,602 1,086,239 200,200 |
|---|---|---|---|
| 2,196,289 (1,030,528) |
|||
| 71,396 (1,102,454) (5,100) |
|||
| 1,165,761 | |||
| 1,165,761 |
Approved by the trustees on 24 July 2024 and signed on their behalf by
G Smith
Mrs D Smith
The Graham & Diane Smith Charitable Trust
Independent Examiners’ Report For the year ended 5 April 2024
I report to the Trustees on the Accounts of the Graham & Diane Smith Charitable Trust for the year ended 5 April 2024.
Responsibilities and basis of report
As the Trust’s Trustees 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 the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Basis of Independent Examiner's Report
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did 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.
Malcolm V Walker B Mus FCA
Brosnans Limited Chartered Accountants Aireside House Royd Ings Avenue Keighley BD21 4BZ 24 July 2024