REGISTERED CHARITY NUMBER: 1127201
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 30 September 2021
for
The Woodspring Trust
A J Bennewith FCA, FCPA, FFA, FFTA,
FIPA, DChA, FRSA
3 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU
The Woodspring Trust
Contents of the Financial Statements
for the Year Ended 30 September 2021
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Page |
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Report of the Trustees |
1 |
to |
2 |
Independent Examiner's Report |
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3 |
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Statement of Financial Activities |
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4 |
|
Balance Sheet |
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5 |
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Notes to the Financial Statements |
6 |
to |
11 |
Detailed Statement of Financial Activities |
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12 |
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The Woodspring Trust
Report of the Trustees for the Year Ended 30 September 2021
The trusteespresenttheirreportwiththe financialstatementsof the charityfor the yearended30 September2021. The
trusteeshaveadoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommended Practice
applicableto charitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableinthe UK
and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
Thelongandshorttermaimsaretoissuegrantstoindividuals,organisationsandcharitiestopromoteresearchfor the
public benefit in the protection, improvement and conservation of the physical and natural environment and biodiversity.
ACHIEVEMENT AND PERFORMANCE
Duringtheyearthecharitycontinuedtolookforgrantmakingopportunitiestofulfilitsaimsandobjectives.Two grants
totalling £40,728 were made to registered UK charities.
The trusteesconsiderthat they have compliedwith the duty in section17(5)of the CharitiesAct 2011to have due regard
to public benefit guidance published by the Charity Commission.
FINANCIAL REVIEW
Investment policy and objectives
Investmentsareheldinshares,corporatebondsandgilt-edgedsecurities.Thecharity'sinvestmentportfolio is
maintained by Quilter Cheviot Limited.
Reserves policy
Duringtheyearthecharitymaintaineditsinvestmentportfolioandpreparedthefundstoenableanysuitablegrants or
sponsorship identified to be undertaken.
FUTURE PLANS
In the future the trustees intend to identify grant making opportunities and offer sponsorship for research.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
New trustees are appointed when necessary, by the existing trustees. Full training is given to all new trustees.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1127201
Principal address
Hart Brown Solicitors
Resolution House
Riverview, Walnut Tree Close
Guildford
Surrey
GU1 4UX
Page 1
The Woodspring Trust
Report of the Trustees for the Year Ended 30 September 2021
Trustees
Mrs M Jack
C V Honey (resigned 29.11.21)
P A Tobias (resigned 29.11.21)
J Lamont (appointed 29.11.21)
Ms S Murrell (appointed 29.11.21)
Independent Examiner
A J Bennewith FCA, FCPA, FFA, FFTA,
FIPA, DChA, FRSA
3 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
..........................................................................
J Lamont - Trustee
Page 2
Independent Examiner's Report to the Trustees of The Woodspring Trust
Independent examiner's report to the trustees of The Woodspring Trust
I reportto the charitytrusteeson my examinationof the accountsof The WoodspringTrust (the Trust)for the year ended
30 September 2021.
Responsibilities and basis of report
AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordancewith the
requirements of the Charities Act 2011 ('the Act').
I reportin respectof my examinationof theTrust'saccountscarriedoutundersection145of theActandin carrying out
my examinationI havefollowedallapplicableDirectionsgivenbytheCharityCommissionundersection145(5)(b)of the
Act.
Independent examiner's statement
I havecompletedmy examination.I confirmthatnomaterialmattershavecometo my attentioninconnectionwith the
examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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 concernsand have come acrossno othermattersin connectionwith the examinationto whichattention should
be drawn in this report in order to enable a proper understanding of the accounts to be reached.
A J Bennewith FCA, FCPA, FFA, FFTA,
FIPA, DChA, FRSA
3 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU
Date: .............................................
Page 3
The Woodspring Trust
Statement of Financial Activities
for the Year Ended 30 September 2021
30.9.21
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
17,844
Investment income
2
10,475
Total
28,319
EXPENDITURE ON
Raising funds
3
7,249
Charitable activities
Charitable expenditure
55,003
Total
62,252
Net gains/(losses) on investments
41,483
NET INCOME/(EXPENDITURE)
7,550
RECONCILIATION OF FUNDS
Total funds brought forward
403,012
TOTAL FUNDS CARRIED FORWARD
410,562 |
30.9.20
Total
funds
£
3,673
9,468 |
|
13,141
6,035
85,550 |
|
91,585
(8,348) |
|
(86,792)
489,804 |
|
403,012 |
The notes form part of these financial statements
Page 4
The Woodspring Trust
Balance Sheet
30 September 2021
30.9.21
Unrestricted
fund
Notes
£
FIXED ASSETS
Investments
6
388,986
CURRENT ASSETS
Debtors
7
6,387
Cash at bank
21,849
28,236
CREDITORS
Amounts falling due within one year
8
(6,660)
NET CURRENT ASSETS
21,576
TOTAL ASSETS LESS CURRENT LIABILITIES
410,562
NET ASSETS
410,562
FUNDS
9
Unrestricted funds
410,562
TOTAL FUNDS
410,562 |
30.9.20
Total
funds
£
387,587
1,306
20,779 |
|
22,085
(6,660) |
|
15,425 |
|
403,012 |
|
403,012 |
|
403,012 |
|
403,012 |
The financialstatementswere approvedby the Boardof Trusteesand authorisedfor issueon .............................................
and were signed on its behalf by:
.............................................
J Lamont - Trustee
The notes form part of these financial statements
Page 5
The Woodspring Trust
Notes to the Financial Statements for the Year Ended 30 September 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,havebeenprepared in
accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicableto charitiespreparingtheir accountsin accordancewith the Financial Reporting
StandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January2019)',Financial Reporting
Standard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the Charities Act
2011.Thefinancialstatementshavebeenpreparedunderthehistoricalcostconvention,withtheexception of
investments which are included at market value, as modified by the revaluation of certain assets.
Income
All incomeis recognisedin the Statementof FinancialActivitiesoncethe charityhas entitlementto the funds,it is
probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethata transferofeconomicbenefitswillberequiredinsettlement and
the amountof the obligationcan be measuredreliably.Expenditureis accountedfor on an accrualsbasisand has
beenclassifiedunderheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbe directly
attributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwiththeuse of
resources.
Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedasa commitment
but not accrued as expenditure.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfundscan onlybe usedfor particularrestrictedpurposeswithinthe objectsof the charity. Restrictions
arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
INVESTMENT INCOME |
|
|
|
30.9.21 |
30.9.20 |
|
£ |
£ |
Income from listed investments |
10,475 |
9,468 |
continued...
Page 6
The Woodspring Trust
Notes to the Financial Statements - continued
for the Year Ended 30 September 2021
3. RAISING FUNDS
Investment management costs
Investment management costs |
|
|
|
30.9.21 |
30.9.20 |
|
£ |
£ |
Portfolio management |
7,249 |
6,035 |
4. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended30September2021norforthe year
ended 30 September 2020.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended30September2021norfortheyear ended
30 September 2020.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
|
|
Unrestricted |
|
fund |
|
£ |
INCOME AND ENDOWMENTS FROM |
|
Donations and legacies |
3,673 |
Investment income |
9,468 |
Total |
13,141 |
EXPENDITURE ON |
|
Raising funds |
6,035 |
Charitable activities |
|
Charitable expenditure |
85,550 |
Total |
91,585 |
Net gains/(losses) on investments |
(8,348) |
NET INCOME/(EXPENDITURE) |
(86,792) |
RECONCILIATION OF FUNDS |
|
Total funds brought forward |
489,804 |
TOTAL FUNDS CARRIED FORWARD |
403,012 |
continued...
Page 7
The Woodspring Trust
Notes to the Financial Statements - continued
for the Year Ended 30 September 2021
6. FIXED ASSET INVESTMENTS
FIXED ASSET INVESTMENTS |
|
|
MARKET VALUE
At 1 October 2020
Additions
Disposals
Revaluations
At 30 September 2021
NET BOOK VALUE
At 30 September 2021
At 30 September 2020 |
Listed
investments
£
387,587
40,226
(80,310)
41,483
388,986
388,986
387,587 |
|
The market value of the investments held at the year-end is represented by: |
|
|
|
|
|
|
30.9.21 |
30.9.20
£
315,365
72,222
387,587 |
|
£ |
|
|
|
|
Investment assets in the UK |
304,558 |
|
Investment assets outside the UK |
84,428 |
|
|
|
|
|
388,986 |
|
|
|
|
All investments are listed on a recognised stock exchange.
Cost or valuation at 30 September 2021 is represented by:
|
|
Listed |
|
|
investments |
|
|
£ |
Valuation in |
2021 |
388,986 |
Ifthefixedassetinvestmentshadnotbeenrevaluedtheywouldhavebeenincludedatthefollowing historical
cost:
|
30.9.21 |
30.9.20 |
|
£ |
£ |
Cost |
317,005 |
326,034 |
The fixed asset investments were valued on an open market basis on 30 September 2021 by Quilter Cheviot.
continued...
Page 8
The Woodspring Trust
Notes to the Financial Statements - continued for the Year Ended 30 September 2021
7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
8.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
9.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
28,319
TOTAL FUNDS
28,319 |
At
1.10.20
£
403,012
403,012
Resources
expended
£
(62,252)
(62,252) |
30.9.21
30.9.20
£
£
6,387
1,306
30.9.21
30.9.20
£
£
6,660
6,660
Net
movement
At
in funds
30.9.21
£
£
7,550
410,562
7,550
410,562
Gains and
Movement
losses
in funds
£
£
41,483
7,550
41,483
7,550 |
30.9.20
£
1,306
30.9.20
£
6,660
At
30.9.21
£
410,562 |
30.9.20
£
1,306
30.9.20
£
6,660
At
30.9.21
£
410,562 |
|
|
|
410,562 |
|
|
|
|
|
7,550 |
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS |
At
1.10.19
£
489,804
489,804 |
Net
movement
in funds
£
(86,792)
(86,792) |
At
30.9.20
£
403,012 |
|
|
|
403,012 |
continued...
Page 9
The Woodspring Trust
Notes to the Financial Statements - continued for the Year Ended 30 September 2021
9. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
13,141
TOTAL FUNDS
13,141
A current year 12 months and prior year 12 months combined position
Unrestricted funds
General fund
TOTAL FUNDS |
Resources
expended
£
(91,585)
(91,585)
is as follows:
At
1.10.19
£
489,804
489,804 |
Gains and
Movement
losses
in funds
£
£
(8,348)
(86,792)
(8,348)
(86,792)
Net
movement
At
in funds
30.9.21
£
£
(79,242)
410,562
(79,242)
410,562 |
|
|
|
A currentyear12 monthsandprioryear12 monthscombinednetmovementin funds,includedin theabove are
as follows:
|
Incoming |
Resources |
Gains and |
Movement |
|
resources |
expended |
losses |
in funds |
|
£ |
£ |
£ |
£ |
Unrestricted funds |
|
|
|
|
General fund |
41,460 |
(153,837) |
33,135 |
(79,242) |
TOTAL FUNDS |
41,460 |
(153,837) |
33,135 |
(79,242) |
continued...
Page 10
The Woodspring Trust
Notes to the Financial Statements - continued for the Year Ended 30 September 2021
10. RELATED PARTY DISCLOSURES
One of the trustees of The Woodspring Trust, Mr J Lamont, is a partner of Hart Brown Solicitors.
Duringthe year ended30 September2021 The WoodspringTrust paid legal fees of £11,340(2020:£3,780)to Hart
Brown Solicitors. The fees are calculated on an arms-length basis.
Page 11
The Woodspring Trust
INCOME AND ENDOWMENTS
Donations and legacies
Gifts
Gift aid
Investment income
Income from listed investments
Total incoming resources
EXPENDITURE
Investment management costs
Portfolio management
Charitable activities
Grants to institutions
Support costs
Management
Insurance
Finance
Bank charges
Governance costs
Accountancy
Legal fees
Total resources expended
Net expenditure |
Detailed Statement of Financial Activities
for the Year Ended 30 September 2021
30.9.21
30.9.20
£
£
14,275
2,935
3,569
738
17,844
3,673
10,475
9,468
28,319
13,141
7,249
6,035
40,728
78,815
1,495
1,495
-
20
1,440
1,440
11,340
3,780
12,780
5,220
62,252
91,585
(33,933)
(78,444) |
Detailed Statement of Financial Activities
for the Year Ended 30 September 2021
30.9.21
30.9.20
£
£
14,275
2,935
3,569
738
17,844
3,673
10,475
9,468
28,319
13,141
7,249
6,035
40,728
78,815
1,495
1,495
-
20
1,440
1,440
11,340
3,780
12,780
5,220
62,252
91,585
(33,933)
(78,444) |
|
|
|
|
|
3,673
9,468 |
|
|
13,141
6,035
78,815
1,495
20
1,440
3,780 |
|
|
5,220 |
|
|
91,585 |
|
|
(78,444) |
This page does not form part of the statutory financial statements
Page 12